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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

Azimuth Capital Investment Management LLC

Quarter ended Q1 2023 · Filed February 14, 2023 · Accession 0001942364-23-000001

Total Value
$1.97B
Positions
304
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (304)

#IssuerTicker / CUSIPSharesValue% of Filing
1Apple Computer IncAAPL367,518$47.8M2.42%
2Pepsico IncPEP262,766$47.5M2.41%
3Microsoft CorpMSFT159,812$38.3M1.94%
4Chubb LtdCB155,254$34.2M1.74%
5Exxon Mobil CorpXOM294,838$32.5M1.65%
6Reins Grp of America759351604222,330$31.6M1.60%
7Johnson & JohnsonJNJ162,775$28.8M1.46%
8Pfizer IncPFE523,956$26.8M1.36%
9Schlumberger LtdSLB501,511$26.8M1.36%
10Merck & Co IncMRK237,469$26.3M1.34%
11Visa Inc Cl AV126,273$26.2M1.33%
12General DynamicsGD102,656$25.5M1.29%
13Broadcom IncAVGO44,824$25.1M1.27%
14United Health GroupUNH45,602$24.2M1.23%
15Starbucks CorpSBUX236,309$23.4M1.19%
16CDW CorpCDW128,832$23.0M1.17%
17Booz Allen Hamilton Cl ABAH213,715$22.3M1.13%
18CVS Health CorpCVS236,246$22.0M1.12%
19Eli Lilly & CoLLY56,765$20.8M1.05%
20Chevron CorpCVX113,571$20.4M1.03%
21Constellation Brands Inc Cl ASTZ87,305$20.2M1.03%
22IBMINTR140,992$19.9M1.01%
23Vanguard S&P 500 Growth ETF92193250591,815$19.4M0.98%
24EPAM SystemsEPAM58,309$19.1M0.97%
25JP Morgan Chase & CoVYLD140,414$18.8M0.95%
26Palo Alto NetworksPANW128,585$17.9M0.91%
27Walmart IncWMT124,529$17.7M0.90%
28Enphase Energy IncENPH66,542$17.6M0.89%
29Republic Services760759100133,828$17.3M0.88%
30Agilent TechnologiesA112,121$16.8M0.85%
31AbbVie IncABBV100,893$16.3M0.83%
32Lululemon Athletica IncLULU50,776$16.3M0.83%
33Alphabet Inc Cl AGOOG183,111$16.2M0.82%
34Home Depot IncHD51,121$16.1M0.82%
35Costco WholesaleCOST35,042$16.0M0.81%
36Amphenol Corp Cl A032095101209,475$15.9M0.81%
37Marsh & McLennan57174810296,237$15.9M0.81%
38Linde PLC FLIN47,817$15.6M0.79%
39Ross StoresROST127,760$14.8M0.75%
40Mastercard Inc-AMA42,575$14.8M0.75%
41Intuitive Surgical IncISRG54,074$14.3M0.73%
42Bank of NY Mellon064058100314,885$14.3M0.73%
43Boeing CoBA-PA73,764$14.1M0.71%
44ResMed IncRSMDF66,110$13.8M0.70%
45DBS Group23304y100133,352$13.5M0.68%
46Intuit IncINTU34,403$13.4M0.68%
47Stryker CorpSYK54,218$13.3M0.67%
48Martin Marietta Materials57328410638,483$13.0M0.66%
49Vertex Pharmaceuticals92532f10043,783$12.6M0.64%
50Fastenal CoFAST266,086$12.6M0.64%
51Procter & Gamble Co74271810982,582$12.5M0.63%
52Axon Enterprise IncAXON75,360$12.5M0.63%
53CoStar Group IncCSGP158,590$12.3M0.62%
54Emerson Electric CoEMR124,880$12.0M0.61%
55Gilead Sciences IncGILD130,110$11.2M0.57%
56NVIDIA CorpNVDA75,913$11.1M0.56%
57Walt Disney Co254687106125,159$10.9M0.55%
58Canadian Nat'l Railway13637510289,905$10.7M0.54%
59WNS Holdings Ltd-ADR92932M101133,128$10.6M0.54%
60Walgreens Boots Alliance Inc931427108283,965$10.6M0.54%
61Automatic Data ProcADP42,757$10.2M0.52%
62Mondelez Int'l Inc609207105152,217$10.1M0.51%
63McDonald's CorpMCD37,282$9.8M0.50%
64The Trade Desk Inc Cl A88339j105217,565$9.8M0.49%
65Bristol-Myers SquibbCELG-RI134,102$9.6M0.49%
66Cisco Systems IncCSCO200,684$9.6M0.48%
67Monolithic Power Sys Inc60983910526,808$9.5M0.48%
68Intel CorpINTC342,687$9.1M0.46%
69Accenture LTD Cl AACN33,116$8.8M0.45%
70iShares S&P 500 Growth464287309150,244$8.8M0.45%
71Zoetis IncZTS58,210$8.5M0.43%
72Nike IncNKE70,984$8.3M0.42%
73IDEXX Laboratories Inc45168d10420,341$8.3M0.42%
74West Pharmaceutical Services95530610535,046$8.2M0.42%
75Abbott LabsABLZF74,506$8.2M0.41%
76Weyerhaeuser CoWY259,459$8.0M0.41%
77BlackRock, IncBLK11,283$8.0M0.41%
78Union Pacific CorpUNP38,567$8.0M0.41%
79Clorox CoCLX56,817$8.0M0.40%
80Amazon.com IncAMZN94,848$8.0M0.40%
81Kimberly-Clark CorpKMB58,364$7.9M0.40%
82Penumbra IncPEN35,558$7.9M0.40%
83Toronto-Dominion BankTORO120,208$7.8M0.39%
84iShares MSCI EU Financial464289180443,500$7.8M0.39%
85Bank of America060505104231,751$7.7M0.39%
86Graco IncGGG113,020$7.6M0.39%
87AT&T IncT-PC410,274$7.6M0.38%
88Estee Lauder Cl A51843910430,417$7.5M0.38%
89HDFC Bank Ltd ADRHDB110,253$7.5M0.38%
90Lockheed MartinLMT15,334$7.5M0.38%
91Coca-Cola CoKO117,231$7.5M0.38%
92ServiceNow, IncNOW19,183$7.4M0.38%
93Raytheon Technologies CoRTX73,494$7.4M0.38%
94Rockwell AutomationROK28,623$7.4M0.37%
95Discover Financial25470910875,190$7.4M0.37%
96Capgemini13961r100219,500$7.3M0.37%
97Workday Inc Cl AWDAY43,498$7.3M0.37%
98Edwards LifesciencesEW97,084$7.2M0.37%
99Diageo PLC ADRDGEAF40,164$7.2M0.36%
100Sherwin WilliamsSHW29,736$7.1M0.36%
101Taiwan Semiconductor87403910093,270$6.9M0.35%
102Baxter Int'l Inc071813109135,555$6.9M0.35%
103Japan Index (ETF)46434g822125,320$6.8M0.35%
104NICE Systems LtdNCSYF34,898$6.7M0.34%
105Check Point SoftwareCHKP53,133$6.7M0.34%
106MSCI IncMSCI14,356$6.7M0.34%
107Vanguard US Tot Mkt ETF92290876934,896$6.7M0.34%
108TELUS CorpTU341,065$6.6M0.33%
109Valero Energy CorpVLO51,812$6.6M0.33%
110Dow IncDOW130,149$6.6M0.33%
111Tyler Technologies IncTYL20,196$6.5M0.33%
112Ball CorpBALL125,320$6.4M0.33%
113Verizon Comm IncVZ159,045$6.3M0.32%
114PayPal Holdings IncPYPL87,620$6.2M0.32%
115Terreno Realty CorpTRNO109,625$6.2M0.32%
116Veeva Systems IncVEEV38,321$6.2M0.31%
117Kraft Heinz CoKHC149,603$6.1M0.31%
118Amgen IncAMGN23,040$6.1M0.31%
119Texas Instruments88250810435,413$5.9M0.30%
120Magna Int'l Cl A559222401103,020$5.8M0.29%
121Berkshire Hathaway Cl BBRK-A17,941$5.5M0.28%
122Meta PlatformsMETA45,775$5.5M0.28%
123Comcast Corp Cl ACCZ156,550$5.5M0.28%
124Grupo Aeroportuario Cen-ADR40050110288,220$5.5M0.28%
125Honeywell Int'l Inc43851610625,018$5.4M0.27%
126Newmont CorpNEMCL113,210$5.3M0.27%
127Iron Mountain IncIRM106,845$5.3M0.27%
128Kinder Morgan IncEP-PC294,562$5.3M0.27%
129Global Pmts IncGPN53,057$5.3M0.27%
130Cogent Communications Hldgs InCCOI91,080$5.2M0.26%
131TJX Companies87254010963,814$5.1M0.26%
132Garmin LtdGRMN54,859$5.1M0.26%
133Lonza Group AG54338v101102,285$5.0M0.25%
134WEC Energy Group IncWEC53,011$5.0M0.25%
135Realty Income CorpO77,963$4.9M0.25%
136Shell PLC Fun Spon ADRRYDAF86,370$4.9M0.25%
1373M CoMMM40,812$4.9M0.25%
138Omnicell IncOMCL95,675$4.8M0.24%
139Euronet Worldwide IncEEFT49,912$4.7M0.24%
140iShares MSCI Emerging Mkts464287234122,353$4.6M0.24%
141Ecolab IncECL31,627$4.6M0.23%
142AstraZeneca PLCAZN66,680$4.5M0.23%
143WisdomTree Europe Hedged Eq FuWT63,915$4.5M0.23%
144Experian PLC30215c101128,220$4.3M0.22%
145Salesforce.comCRM32,199$4.3M0.22%
146Colgate-Palmolive CoCL53,665$4.2M0.21%
147Vanguard S&P 500 ETF92290836311,824$4.2M0.21%
148MSC Industrial Direct Co-A55353010649,760$4.1M0.21%
149Target CorpTGT27,086$4.0M0.20%
150United Parcel ServiceUPS23,158$4.0M0.20%
151Fleetcor Technologies33904110521,610$4.0M0.20%
152Paychex IncPAYX34,276$4.0M0.20%
153Nestle SA ADR64106940634,154$4.0M0.20%
154Welltower IncWELL60,252$3.9M0.20%
155ASML Holdings NV NY Reg SharesASMLF7,191$3.9M0.20%
156Zscaler IncZS35,013$3.9M0.20%
157Air Products & ChemAIIR12,700$3.9M0.20%
158Globant SAGLOB23,175$3.9M0.20%
159Digital Realty Trust Inc25386810338,213$3.8M0.19%
160Aflac IncAFL52,935$3.8M0.19%
161Icon PLCICLR19,210$3.7M0.19%
162The Toro CoTORO32,925$3.7M0.19%
163Duke Energy CorpDUKB35,956$3.7M0.19%
164MTU Aero Engines AG62473g10234,290$3.7M0.19%
165Bank of Montreal06367110140,680$3.7M0.19%
166Dassault Systems SA237545108102,171$3.7M0.19%
167ConocoPhillipsCOP30,818$3.6M0.18%
168Endava PlcDAVA46,717$3.6M0.18%
169Techtronic INDS LTD SP ADR87873r10162,376$3.5M0.18%
170Pinnacle Financial PartnersPNFP-PA43,332$3.2M0.16%
171ProShares S&P 500 Div Aristocr74348a46734,775$3.1M0.16%
172Atlassian Corp PLCTEAM23,760$3.1M0.16%
173Caterpillar IncCAT12,465$3.0M0.15%
174American ExpressAXP20,160$3.0M0.15%
175Vanguard Short-Term Corp Bond92206c40939,309$3.0M0.15%
176Brookfield Corp Cl F11271j10793,149$2.9M0.15%
177Applied Materials Inc03822210528,010$2.7M0.14%
178Gentex CorpGNTX99,160$2.7M0.14%
179Vanguard Total Bond Market ETF92193783534,415$2.5M0.13%
180BP PLC ADRBPPFF70,660$2.5M0.13%
181Deere & CoDE5,735$2.5M0.12%
182Travelers Company IncTRV13,027$2.4M0.12%
183Vanguard Total Intl Stk ETF92190976846,130$2.4M0.12%
184Progressive Corp74331510318,045$2.3M0.12%
185Oracle CorpORCL-PD25,801$2.1M0.11%
186Cardinal HealthCAH26,898$2.1M0.10%
187NextEra EnergyNEE-PW24,394$2.0M0.10%
188Truist Financial CorpTFC-PR44,358$1.9M0.10%
189Ford Motor Co345370860164,055$1.9M0.10%
190Nordson CorporationNDSN7,870$1.9M0.09%
191Wells Fargo & Co94974610144,990$1.9M0.09%
192Southern CoSOMN26,010$1.9M0.09%
193VF CorpVFC66,110$1.8M0.09%
194Comerica Inc20034010727,176$1.8M0.09%
195iShares S&P MidCap 4004642875077,477$1.8M0.09%
196iShares-Russell 200046428765510,140$1.8M0.09%
197Pinnacle West Cap CorpPNW23,135$1.8M0.09%
198Ingredion IncINGR17,730$1.7M0.09%
199First Republic Bk/CA33616c10013,625$1.7M0.08%
200Hershey CoHSY7,125$1.6M0.08%
201iShares MSCI EAFE46428746524,386$1.6M0.08%
202Vanguard Mid-Cap ETF9229086297,405$1.5M0.08%
203Microchip TechnologyMCHPP20,860$1.5M0.07%
204Vanguard Small Cap ETF9229087517,930$1.5M0.07%
205CME Group IncCME8,623$1.5M0.07%
206DTE Energy CoDTK12,300$1.4M0.07%
207Thermo Fisher Sci IncTMO2,555$1.4M0.07%
2081/100 Berkshire CLA 100=1 BRKBRK-A300$1.4M0.07%
209Alphabet Inc Cl CGOOG14,320$1.3M0.06%
210Neogen CorpNEOG81,609$1.2M0.06%
211Sysco CorpSYY15,420$1.2M0.06%
212iShares S&P PFD Stock Fund46428868737,600$1.1M0.06%
213Federal Rlty Invt Tr31374510111,015$1.1M0.06%
214Motorola SolutionsMSI4,265$1.1M0.06%
215Qualcomm IncQCOM9,956$1.1M0.06%
216SPDR S&P 500 ETF TrustSPY2,833$1.1M0.05%
217Dominion Energy IncD17,335$1.1M0.05%
218Vanguard Short-Term Treas ETF92206c10217,475$1.0M0.05%
219iShares S&P 500 Val4642874086,802$986,7660.05%
220DuPont de Nemours IncDD14,246$977,7550.05%
221Genuine Parts CoGPC5,396$936,2590.05%
222Lowe's Companies5486611074,690$934,4350.05%
223PPG Industries Inc6935061077,294$917,1470.05%
224Illinois Tool Works4523081094,075$897,7220.05%
225Eaton Corp PLCETN5,640$885,1980.04%
226Intermediate Gov/Credit ETF4642886128,590$880,1310.04%
227General Electric Co36960430110,389$870,4940.04%
228F5 Networks IncFFIV5,702$818,2940.04%
229Allstate CorpALL-PJ5,860$794,6160.04%
230iShares-Russell 10004642876223,324$699,7680.04%
231Grainger W.W. Inc3848021041,250$695,3120.04%
232iShares Trust S&P 5004642872001,807$694,2670.04%
233NuVasive IncNU16,791$692,4600.04%
234Brookfield Asset Mgmt Cl A11300410523,120$662,8500.03%
235Philip Morris Int'l7181721096,250$632,5620.03%
236PNC Financial6934751054,005$632,5490.03%
237Adobe Systems IncADBE1,866$627,9640.03%
238Yum! Brands IncYUM4,863$622,8530.03%
239RPM Int'l Inc7496851036,323$616,1760.03%
240Viatris IncVTRS54,500$606,5850.03%
241Huntington BancsharesHBANP42,869$604,4520.03%
242Avery Dennison CorpAVY3,235$585,5350.03%
243Analog DevicesADI3,497$573,6120.03%
244Enbridge IncENNPF14,551$568,3780.03%
245Blackstone Group IncBX7,450$552,7150.03%
246General Mills Inc3703341046,435$539,5740.03%
2471-3yr Treasury Bond ETF4642874576,611$536,6140.03%
248J M Smucker Co8326964053,228$511,5080.03%
249Goldman Sachs GrpGSCE1,488$510,9490.03%
250Marathon Petroleum CorpMPC4,375$509,2060.03%
251FedEx CorpFDX2,918$505,3970.03%
252Cincinnati Financial Corp1720621014,823$493,8260.03%
253Parker Hannifin CorpPH1,650$480,1500.02%
254First Horizon CorpFHN-PH19,270$472,1150.02%
255Consolidated EdisonED4,950$471,7840.02%
256Exelon CorpEXC10,856$469,3040.02%
257Lamb Weston HoldingsLW5,083$454,2160.02%
258Vanguard Intermediate-Term Cor92206c8705,600$434,0560.02%
259iShares S&P Smallcap 600 Value4642878794,670$426,4510.02%
260Snap-On IncSNA1,791$409,2250.02%
261Conagra Foods IncCAG10,475$405,3820.02%
262iShares Gold TrustIAU11,443$395,8130.02%
263DT Midstream IncDTM7,140$394,5560.02%
264Pentair PlcPNR8,440$379,6310.02%
265Altria Group IncMO8,100$370,2510.02%
266Donaldson Co IncDCI6,100$359,1070.02%
267Vanguard High DVD Yield ETF9219464063,288$355,7940.02%
268iShares iBonds Dec 2024 Corp E46434vbg414,500$354,0900.02%
269Charles Schwab CorpSCHW-PJ4,250$353,8550.02%
270McCormick & CoMKC-V4,260$353,1110.02%
271iShares Floating Rate Bond ETF46429b6556,690$336,7070.02%
272Medtronic PLCMDT4,315$335,3940.02%
273STERIS PlcSTE1,755$324,1300.02%
274Carrier Global CorpCARR7,739$319,2330.02%
275Aptiv PLCAPTV3,390$315,7100.02%
276Otis Worldwide CorpOTIS3,965$310,4990.02%
277Mercantile Bank Corp5873761049,189$307,6470.02%
278Moderna IncMRNA1,708$306,7900.02%
279iShares DJ Select DVD Index4642871682,484$299,6420.02%
280SPDR S&P 600 Small Cap Value E78464a3003,850$285,7470.01%
281Globus Medical IncGMED3,700$274,7990.01%
282Cullen/Frost BankersCFR-PB2,050$274,0850.01%
283S&P Global IncSPGI815$272,9760.01%
284iShares iBonds Dec 2025 Corp E46434vbd111,000$267,5200.01%
285Danaher Corp235851102994$263,8270.01%
286US BancorpUSB-PS5,937$258,9120.01%
287Essex Property Trust Inc2971781051,200$254,3040.01%
288Roper Industries IncROP578$249,7480.01%
289Halliburton CoHAL6,300$247,9050.01%
290SPDR Gold TrustGLD1,450$245,9780.01%
291Phillips 66PSX2,349$244,4830.01%
292Brookfield Renewable PartnersG162581089,275$235,0280.01%
293Becton DickinsonBDX923$234,7180.01%
294Expeditors Int'l of WA3021301092,250$233,8200.01%
295Apache CorpAPA5,000$233,4000.01%
296CMS Energy CorpCMS-PC3,622$229,3810.01%
297FortinetFTNT4,665$228,0710.01%
298Wolfspeed Inc.WOLF3,150$217,4760.01%
299iShares Broad USD Inv Grade C4642886204,351$213,6770.01%
300Amer Electric Power0255371012,250$213,6370.01%
301Hormel Foods CorpHRL4,672$212,8090.01%
302Waste Management IncWM1,300$203,9440.01%
303Wallbridge Mining Co Ltd93239710210,000$1,3250.00%
304Invesco Van Kampen Muni.Op.TrIVZ43,613$00.00%