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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F HOLDINGS REPORT

Systematic Alpha Investments, LLC

Quarter ended Q2 2023 · Filed May 15, 2023 · Accession 0001806755-23-000003

Total Value
$1.90B
Positions
303
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (303)

#IssuerTicker / CUSIPSharesValue% of Filing
1Vanguard S&P 500 ETF9229083631,132,544$425.9M22.39%
2Vanguard Value ETF922908744894,868$123.6M6.50%
3Eli Lilly and CompanyLLY279,303$95.9M5.04%
4Apple Inc.AAPL576,144$95.0M4.99%
5Microsoft CorporationMSFT251,402$72.5M3.81%
6Vanguard Dividend Appreciation ETF921908844353,000$54.4M2.86%
7Merck & Co., Inc.MRK410,682$43.7M2.30%
8Applied Materials, Inc.038222105320,128$39.3M2.07%
9Travelers Companies, Inc.TRV215,208$36.9M1.94%
10PepsiCo, Inc.PEP193,425$35.3M1.85%
11Vanguard Growth ETF922908736130,672$32.6M1.71%
12Alphabet Inc. Class AGOOG308,599$32.0M1.68%
13Vanguard Information Technology ETF92204A70282,300$31.7M1.67%
14Invesco S&P Smallcap 600 Pure Value ETFIVZ306,488$27.8M1.46%
15UnitedHealth Group IncorporatedUNH57,323$27.1M1.42%
16McDonald's CorporationMCD96,001$26.8M1.41%
17NVIDIA CorporationNVDA90,042$25.0M1.31%
18Waste Management, Inc.94106L109149,216$24.3M1.28%
19Vanguard Short-Term Inflation-Protected Securities ETF922020805495,000$23.7M1.24%
20Amazon.com, Inc.AMZN225,499$23.3M1.22%
21Home Depot, Inc.HD75,320$22.2M1.17%
22Mastercard Incorporated Class AMA59,876$21.8M1.14%
23Bristol-Myers Squibb CompanyCELG-RI296,292$20.5M1.08%
24American Electric Power Company, Inc.025537101217,000$19.7M1.04%
25Target CorporationTGT114,786$19.0M1.00%
26Union Pacific CorporationUNP93,348$18.8M0.99%
27Eversource EnergyES226,152$17.7M0.93%
28Kimberly-Clark CorporationKMB131,859$17.7M0.93%
29Pfizer Inc.PFE424,515$17.3M0.91%
30Alphabet Inc. Class CGOOG158,759$16.5M0.87%
31Cisco Systems, Inc.CSCO314,568$16.4M0.86%
32MetLife, Inc.MET-PF280,471$16.3M0.85%
33AbbVie, Inc.ABBV98,285$15.7M0.82%
34Meta Platforms Inc. Class AMETA73,470$15.6M0.82%
35Allstate CorporationALL-PJ126,941$14.1M0.74%
36Raytheon Technologies CorporationRTX134,190$13.1M0.69%
37Yum! Brands, Inc.YUM99,234$13.1M0.69%
38Avery Dennison CorporationAVY70,644$12.6M0.66%
39Verizon Communications Inc.VZ308,920$12.0M0.63%
40Sun Life Financial Inc.SUNFF250,808$11.7M0.62%
41Coca-Cola CompanyKO172,300$10.7M0.56%
42T-Mobile US, Inc.TMUSZ73,020$10.6M0.56%
43SPDR S&P 500 ETF TrustSPY25,170$10.3M0.54%
44Altria Group, Inc.MO212,638$9.5M0.50%
45Edison International281020107130,188$9.2M0.48%
46BrightSphere Investment Group, Inc.AAMI370,108$8.7M0.46%
47Financial Select Sector SPDR Fund81369Y605248,410$8.0M0.42%
48Truist Financial Corporation89832Q109233,937$8.0M0.42%
49Unilever PLC Sponsored ADRUNLYF147,881$7.7M0.40%
50iShares Core U.S. Aggregate Bond ETF46428722672,000$7.2M0.38%
51Intel CorporationINTC215,388$7.0M0.37%
52Microchip Technology IncorporatedMCHPP79,000$6.6M0.35%
53Netflix, Inc.NFLX16,761$5.8M0.30%
54Lam Research CorporationLRCX10,889$5.8M0.30%
55Tesla, Inc.TSLA27,228$5.6M0.30%
56SPDR Portfolio S&P 500 High Dividend ETF78468R788147,601$5.6M0.29%
57Advanced Micro Devices, Inc.AMD54,613$5.4M0.28%
58JPMorgan Chase & Co.VYLD36,804$4.8M0.25%
59Broadcom Inc.AVGO7,356$4.7M0.25%
60SLM CorpSLMBP277,906$3.4M0.18%
61Franklin Resources, Inc.BEN126,200$3.4M0.18%
62Adobe IncorporatedADBE8,120$3.1M0.16%
63Salesforce, Inc.CRM15,624$3.1M0.16%
64QUALCOMM IncorporatedQCOM22,342$2.9M0.15%
65Public StoragePSA-PS9,030$2.7M0.14%
66V.F. CorporationVFC116,777$2.7M0.14%
67Chevron CorporationCVX14,854$2.4M0.13%
68Medtronic PlcMDT29,701$2.4M0.13%
69Freeport-McMoRan, Inc.FCX53,157$2.2M0.11%
70Walmart Inc.WMT14,700$2.2M0.11%
71Boeing CompanyBA-PA10,038$2.1M0.11%
72Southern CompanySOMN30,000$2.1M0.11%
73Invesco Ltd.IVZ126,193$2.1M0.11%
74Leidos Holdings, Inc.LDOS21,781$2.0M0.11%
75Visa Inc. Class AV8,673$2.0M0.10%
76Bank of America Corp06050510467,508$1.9M0.10%
77Align Technology, Inc.ALGN5,266$1.8M0.09%
78APA CorporationAPA48,003$1.7M0.09%
79Diamondback Energy, Inc.FANG12,013$1.6M0.09%
80Otis Worldwide CorporationOTIS18,610$1.6M0.08%
81HP Inc.HPQ53,000$1.6M0.08%
82O'Reilly Automotive, Inc.67103H1071,800$1.5M0.08%
83Morgan StanleyMS-PQ17,326$1.5M0.08%
84Chipotle Mexican Grill, Inc.CMG782$1.3M0.07%
85Thermo Fisher Scientific Inc.TMO2,296$1.3M0.07%
86MGM Resorts InternationalMGM29,270$1.3M0.07%
87Walgreens Boots Alliance, Inc.93142710836,400$1.3M0.07%
88Carrier Global Corp.CARR25,789$1.2M0.06%
89Celanese CorporationCE10,000$1.1M0.06%
90Boston Scientific CorporationBSX21,760$1.1M0.06%
91Brady Corporation Class ABRC20,200$1.1M0.06%
92Nucor CorporationNUE7,020$1.1M0.06%
93Pitney Bowes Inc.PBI-PB275,000$1.1M0.06%
94Schlumberger N.V.SLB21,425$1.1M0.06%
95Goldman Sachs Group, Inc.GSCE3,194$1.0M0.05%
96Marriott International, Inc. Class A5719032026,143$1.0M0.05%
97Ford Motor Company34537086079,942$1.0M0.05%
98Invesco QQQ TrustIVZ3,130$1.0M0.05%
99Samsung Electronics Co., Ltd. Sponsored GDR796050888800$983,2160.05%
100Arista Networks, Inc.ANET5,824$977,6170.05%
101Organon & Co.OGN41,067$965,8960.05%
102Teradyne, Inc.TER8,500$913,8350.05%
103Lennar Corporation Class ALEN-B8,639$908,0450.05%
104Tecnoglass Inc.TGLS21,500$902,1400.05%
105Hershey CompanyHSY3,401$865,2480.05%
106Royal Caribbean GroupV7780T10313,214$862,8740.05%
107Pioneer Natural Resources Company7237871074,198$857,3990.05%
108Marathon Petroleum CorporationMARA6,315$851,4510.04%
109Etsy, Inc.ETSY7,528$838,0920.04%
110Synopsys, Inc.SNPS2,053$792,9710.04%
111HSBC Holdings PLC Sponsored ADRHBCYF23,000$784,9900.04%
112Northrop Grumman Corp.NOC1,700$784,9240.04%
113KLA CorporationKLAC1,961$782,7720.04%
114PulteGroup, Inc.74586710113,088$762,7680.04%
115Elevance Health, Inc.ELV1,597$734,3160.04%
116Alibaba Group Holding Limited Sponsored ADRBBAAY7,100$725,4780.04%
117Cigna Group1255231002,821$720,8500.04%
118Albemarle CorporationALB-PA3,237$715,5060.04%
119Copart, Inc.CPRT9,486$713,4420.04%
120Baker Hughes Company Class ABKR23,912$690,1000.04%
121Fortinet, Inc.FTNT10,359$688,5250.04%
122Grupo Aeroportuario del Sureste SAB de CV Sponsored ADR Class B40051E2022,200$674,2340.04%
123United Rentals, Inc.URI1,674$662,5020.03%
124Hess CorporationHESM4,980$659,0530.03%
125Marathon Oil CorporationMARA26,098$625,3080.03%
126Newell Brands IncNWL50,000$622,0000.03%
127CBRE Group, Inc. Class ACBRE8,328$606,3610.03%
128Western Digital CorporationWDC16,000$602,7200.03%
129SPDR S&P Dividend ETF78464A7634,800$593,8080.03%
130Chemed CorporationCHE1,100$591,5250.03%
131Atkore IncATKR4,200$590,0160.03%
132ServiceNow, Inc.NOW1,247$579,5050.03%
133Magnolia Oil & Gas Corp. Class AMGY25,400$555,7520.03%
134Regions Financial CorporationRF-PF29,615$549,6540.03%
135Mosaic CompanyMOS11,633$533,7220.03%
136Raymond James Financial, Inc.7547301095,700$531,6390.03%
137Cadence Design Systems, Inc.CDNS2,498$524,8040.03%
138FirstCash Holdings, Inc.FCFS5,500$524,5350.03%
139Campbell Soup CompanyCPB9,500$522,3100.03%
140Univar Solutions Inc.91336L10714,700$514,9410.03%
141Euronet Worldwide, Inc.EEFT4,600$514,7400.03%
142Big Lots, Inc.08930210346,600$510,7360.03%
143Viatris, Inc.VTRS52,730$507,2720.03%
144Devon Energy Corporation25179M1039,918$501,9500.03%
145Kroger Co.KR9,700$478,8890.03%
146Walt Disney Company2546871064,731$473,7150.02%
147Lincoln National Corp53418710920,738$465,9820.02%
148CTS CorporationCTS9,360$462,9450.02%
149ConocoPhillipsCOP4,610$457,3580.02%
150Amdocs LimitedDOX4,700$451,3410.02%
151Companhia de Saneamento Basico do Estado de Sao Paulo SABESP Sponsored ADRSBS44,800$448,4480.02%
152Corteva IncCTVA7,400$446,2940.02%
153PayPal Holdings, Inc.PYPL5,761$437,4900.02%
154Halliburton CompanyHAL13,816$437,1380.02%
155Insight Enterprises, Inc.NSIT2,950$421,7320.02%
156Berkshire Hathaway Inc. Class BBRK-A1,346$415,6040.02%
157Quanta Services, Inc.74762E1022,493$415,4330.02%
158News Corporation Class ANWSLL23,740$409,9890.02%
159Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR8740391004,400$409,2880.02%
160Vanguard FTSE Emerging Markets ETF92204285810,115$408,6460.02%
161ORIX Corporation Sponsored ADRORXCF4,962$407,2810.02%
162General Electric Company3696043014,243$405,6300.02%
163Deckers Outdoor CorporationDECK900$404,5950.02%
164DXC Technology Co.DXC15,578$398,1730.02%
165Grupo Financiero Banorte SAB de CV Sponsored ADR Class O40052P1079,400$394,9310.02%
166Centene CorporationCNC6,134$387,7300.02%
167Bath & Body Works, Inc.BBWI10,370$379,3340.02%
168FMC CorporationFMC3,000$366,3900.02%
169United Microelectronics Corp. Sponsored ADRUMC41,800$366,1680.02%
170American Tower Corporation03027X1001,764$360,4550.02%
171Kinsale Capital Group, Inc.49714P1081,200$360,1800.02%
172Toll Brothers, Inc.TOL5,900$354,1770.02%
173Paycom Software, Inc.PAYC1,137$345,6590.02%
174Hilton Worldwide Holdings IncHLT2,438$343,4410.02%
175eBay Inc.EBAY7,580$336,3240.02%
176Activision Blizzard, Inc.00507V1093,908$334,4850.02%
177Academy Sports and Outdoors, Inc.ASO5,100$332,7750.02%
178KT Corporation Sponsored ADRKT28,500$323,1900.02%
179McKesson CorporationMCK900$320,4450.02%
180Analog Devices, Inc.ADI1,567$309,0430.02%
181Webster Financial Corporation9478901097,792$307,1600.02%
182Gen Digital Inc.GENVR17,776$305,0360.02%
183Danaher Corporation2358511021,205$303,7080.02%
184Allison Transmission Holdings, Inc.ALSN6,600$298,5840.02%
185State Street CorporationSTT-PG3,798$287,4700.02%
186World Wrestling Entertainment, Inc. Class A98156Q1083,100$282,9060.01%
187PVH Corp.PVH3,169$282,5480.01%
188Dr. Reddy's Laboratories Ltd. Sponsored ADR2561352034,900$278,9570.01%
189Dow, Inc.DOW5,020$275,1960.01%
190International Business Machines CorporationINTR2,040$267,4230.01%
191Intuitive Surgical, Inc.ISRG1,029$262,8780.01%
192UFP Industries, Inc.UFPI3,200$254,3040.01%
193DexCom, Inc.DXCM2,172$252,3430.01%
194Discover Financial Services2547091082,547$251,7450.01%
195LKQ CorporationLKQ4,336$246,1110.01%
196ICICI Bank Limited Sponsored ADRIBN11,300$243,8540.01%
197Electronic Arts Inc.EA2,020$243,3090.01%
198Johnson Controls International plcG515021053,909$235,4000.01%
199Paramount Global Class B92556H20610,428$232,6480.01%
200iShares Core S&P 500 ETF464287200544$223,6270.01%
201United Airlines Holdings, Inc.UNTCW5,047$223,3290.01%
202Edwards Lifesciences CorporationEW2,670$220,8890.01%
203Qorvo, Inc.QRVO2,160$219,3910.01%
204Immersion CorporationIMMR24,400$218,1360.01%
205Darden Restaurants, Inc.DRI1,380$214,1200.01%
206Capital One Financial Corp14040H1052,181$209,7250.01%
207Masonite International Corp.5753851092,300$208,7710.01%
208Ingersoll Rand Inc.IR3,562$207,2370.01%
209Aptiv PLCAPTV1,798$201,7170.01%
210Linde plcLIN564$200,4680.01%
211News Corporation Class BNWSLL11,500$200,4450.01%
212Citigroup Inc.C-PR4,238$198,7190.01%
213Old Dominion Freight Line, Inc.ODFL581$198,0280.01%
214HCA Healthcare IncHCA738$194,5950.01%
215Starbucks CorporationSBUX1,776$184,9340.01%
216Sendas Distribuidora SA Sponsored ADR81689T10412,000$184,8000.01%
217KeyCorp49326710814,601$182,8040.01%
218Capri Holdings LimitedCPRI3,875$182,1250.01%
219Lowe's Companies, Inc.548661107903$180,5720.01%
220Progressive Corporation7433151031,257$179,8260.01%
221Expedia Group, Inc.EXPE1,837$178,2440.01%
222Norwegian Cruise Line Holdings Ltd.NCLH12,708$170,9220.01%
223Weyerhaeuser CompanyWY5,350$161,1950.01%
224LPL Financial Holdings Inc.50212V100760$153,8240.01%
225Micron Technology, Inc.MU2,461$148,4960.01%
226ChipMOS TECHNOLOGIES INC Sponsored ADRIMOS5,710$143,3780.01%
227FinVolution Group Sponsored ADR Class AFVGPY34,100$142,1970.01%
228CVS Health CorporationCVS1,904$141,4860.01%
229ONEOK, Inc.OKE2,218$140,9310.01%
230FirstEnergy Corp.FE3,500$140,2100.01%
231SBA Communications Corp. Class ASBAC516$134,7120.01%
232Live Nation Entertainment, Inc.LYV1,847$129,2900.01%
233Western Alliance BancorpWAL-PA3,620$128,6540.01%
234Vanguard High Dividend Yield Index ETF9219464061,150$121,3250.01%
235Texas Instruments Incorporated882508104651$121,0920.01%
236Autodesk, Inc.ADSK574$119,4830.01%
237Prologis, Inc.PLDGP954$119,0300.01%
238Victoria's Secret & Company9264001023,456$118,0220.01%
239Citizens Financial Group, Inc.CIA3,860$117,2280.01%
240CSPC Pharmaceutical Group Limited Unsponsored ADR12591J20729,700$116,8390.01%
241Philip Morris International Inc.7181721091,126$109,5030.01%
242Zimmer Biomet Holdings, Inc.ZBH761$98,3210.01%
243Silicon Motion Technology Corporation Sponsored ADRSIMO1,500$98,2800.01%
244TechnipFMC plcFTI7,162$97,7610.01%
245Westinghouse Air Brake Technologies Corporation929740108965$97,5220.01%
246Grupo Simec SAB de CV Sponsored ADR Class B4004911062,800$97,4680.01%
247Sociedad Quimica y Minera de Chile S.A. Sponsored ADR Pfd Series B8336351051,200$97,2720.01%
248Fiserv, Inc.FISV844$95,3970.01%
249Synchrony FinancialSYF-PB3,258$94,7420.00%
250Comerica Incorporated2003401072,180$94,6550.00%
251Intercontinental Exchange, Inc.45866F104901$93,9650.00%
252BB Seguridade Participacoes SA Sponsored ADR05541J10313,900$89,0990.00%
253iShares Europe ETF4642878611,600$80,0320.00%
254Global Payments Inc.37940X102686$72,1940.00%
255Kyndryl Holdings IncorporationKD4,808$70,9660.00%
256Carnival CorporationCUKPF6,934$70,3800.00%
257Simon Property Group, Inc.828806109614$68,7490.00%
258Wynn Resorts, LimitedWYNN614$68,7120.00%
259Block, Inc. Class ABSQKZ1,000$68,6500.00%
260Global X Lithium & Battery Tech ETF37954Y8551,000$63,5500.00%
261Comcast Corporation Class ACCZ1,643$62,2860.00%
262Gap, Inc.GAP6,173$61,9760.00%
263EOG Resources, Inc.EOG535$61,3270.00%
264MasTec, Inc.MTZ629$59,4020.00%
265Prudential Financial, Inc.PUKPF707$58,4970.00%
266Amphenol Corporation Class A032095101700$57,2040.00%
267CBIZ, Inc.CBZ1,118$55,3290.00%
268PDD Holdings Inc. Sponsored ADR Class APDD700$53,1300.00%
269Kimco Realty Corporation49446R1092,698$52,6910.00%
270Sysco CorporationSYY680$52,5160.00%
271Principal Financial Group, Inc.PFG700$52,0240.00%
272Stanley Black & Decker, Inc.SWK608$48,9920.00%
273Vanguard FTSE Europe ETF922042874800$48,7600.00%
274Companhia Energetica de Minas Gerais SA Sponsored ADR20440988214,000$48,0200.00%
275Gerdau S.A. Pfd Sponsored ADR Repr 1 Pfd ShGGB9,660$47,6230.00%
276WH Group Ltd. (HK) Sponsored ADR92890T2053,972$47,3620.00%
277Occidental Petroleum Corporation Warrant 2020-03.08.27 on Occidental Pete6745991621,080$44,2800.00%
278Warner Bros. Discovery, Inc. Series AWBD2,840$42,8840.00%
279Charles Schwab CorpSCHW-PJ781$40,9080.00%
280Banco Santander (Mexico) SA Institucion de Banca Multiple Grupo Financiero Santander Sponsored ADR Class B05969B1035,834$39,4960.00%
281Fortive Corp.FTV550$37,4930.00%
282Flowserve CorporationFLS1,101$37,4340.00%
283Vale S.A. Sponsored ADRVALE2,316$36,5460.00%
284Wyndham Hotels & Resorts, Inc.WH532$36,0960.00%
285AUO Corporation Sponsored ADR0022554045,712$34,5220.00%
286Daqo New Energy Corp Sponsored ADRDQ700$32,7880.00%
287Uber Technologies, Inc.UBER1,000$31,7000.00%
288Technip Energies NV Sponsored ADR87854Y1091,432$30,5780.00%
289Ventas, Inc.VTR705$30,5610.00%
290Williams Companies, Inc.969457100841$25,1120.00%
291Travel and Leisure Co.894164102532$20,8540.00%
292Vitru Ltd.G9440D103880$20,0280.00%
293NIO Inc. Sponsored ADR Class ANIOIF1,900$19,9690.00%
294SPDR S&P Emerging Markets Dividend ETF78463X533750$19,6420.00%
295Arconic Corp.03966V107675$17,7050.00%
296Antero Midstream Corp.AM1,353$14,1920.00%
297Beyond Meat, Inc.BYND700$11,3610.00%
298Green Dot Corporation Class AGDOT653$11,2180.00%
299Chow Tai Fook Jewellery Group Limited Unsponsored ADR17044P106500$9,9230.00%
300ETFMG Alternative Harvest ETFMG Alternative Harvest26924G5082,700$9,5040.00%
301Oil company LUKOIL PJSC Sponsored ADR69343P105943$6,5630.00%
302CD Projekt S.A. Unsponsored ADR125105106900$5,8080.00%
303SVB Financial Group78486Q1011,470$1,3300.00%