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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 Q2 2023 · Filed May 15, 2023 · Accession 0001942364-23-000002

Total Value
$2.03B
Positions
303
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (303)

#IssuerTicker / CUSIPSharesValue% of Filing
1Apple Computer IncAAPL357,261$58.9M2.90%
2Pepsico IncPEP258,718$47.2M2.32%
3Microsoft CorpMSFT157,186$45.3M2.23%
4Exxon Mobil CorpXOM288,015$31.6M1.55%
5Chubb LtdCB152,189$29.6M1.45%
6Broadcom IncAVGO44,094$28.3M1.39%
7Visa Inc Cl AV124,987$28.2M1.39%
8Reins Grp of America759351604200,847$26.7M1.31%
9Johnson & JohnsonJNJ161,666$25.1M1.23%
10Merck & Co IncMRK233,853$24.9M1.22%
11Starbucks CorpSBUX234,470$24.4M1.20%
12Schlumberger LtdSLB493,015$24.2M1.19%
13Linde PLC FLIN64,978$23.1M1.14%
14CDW CorpCDW117,676$22.9M1.13%
15Palo Alto NetworksPANW110,149$22.0M1.08%
16Mastercard Inc-AMA58,747$21.3M1.05%
17Pfizer IncPFE521,906$21.3M1.05%
18United Health GroupUNH44,922$21.2M1.04%
19Stryker CorpSYK73,787$21.1M1.04%
20NVIDIA CorpNVDA74,447$20.7M1.02%
21Booz Allen Hamilton Cl ABAH211,420$19.6M0.96%
22Eli Lilly & CoLLY55,845$19.2M0.94%
23Alphabet Inc Cl AGOOG182,870$19.0M0.93%
24General DynamicsGD81,321$18.6M0.91%
25IBMINTR140,553$18.4M0.91%
26Mondelez Int'l Inc609207105262,215$18.3M0.90%
27Walmart IncWMT122,933$18.1M0.89%
28JP Morgan Chase & CoVYLD138,464$18.0M0.89%
29Republic Services760759100131,410$17.8M0.87%
30Costco WholesaleCOST34,499$17.1M0.84%
31Axon Enterprise IncAXON74,999$16.9M0.83%
32Zoetis IncZTS96,243$16.0M0.79%
33AbbVie IncABBV98,835$15.8M0.78%
34Marsh & McLennan57174810293,437$15.6M0.77%
35Agilent TechnologiesA109,694$15.2M0.75%
36Enphase Energy IncENPH72,129$15.2M0.75%
37Intuit IncINTU33,981$15.1M0.75%
38Intuitive Surgical IncISRG58,857$15.0M0.74%
39Home Depot IncHD50,480$14.9M0.73%
40Constellation Brands Inc Cl ASTZ65,570$14.8M0.73%
41Thermo Fisher Sci IncTMO25,644$14.8M0.73%
42Boeing CoBA-PA69,359$14.7M0.73%
43ServiceNow, IncNOW31,495$14.6M0.72%
44ResMed IncRSMDF65,820$14.4M0.71%
45Bank of NY Mellon064058100313,210$14.2M0.70%
46Salesforce.comCRM70,801$14.1M0.70%
47Fastenal CoFAST261,441$14.1M0.69%
48IDEXX Laboratories Inc45168d10428,009$14.0M0.69%
49The Trade Desk Inc Cl A88339j105229,900$14.0M0.69%
50Vertex Pharmaceuticals92532f10043,891$13.8M0.68%
51Chevron CorpCVX84,110$13.7M0.68%
52CVS Health CorpCVS181,166$13.5M0.66%
53Ross StoresROST125,650$13.3M0.66%
54CoStar Group IncCSGP192,445$13.2M0.65%
55Monolithic Power Sys Inc60983910526,318$13.2M0.65%
56Walt Disney Co254687106125,068$12.5M0.62%
57WNS Holdings Ltd-ADR92932M101132,785$12.4M0.61%
58Procter & Gamble Co74271810980,518$12.0M0.59%
59West Pharmaceutical Services95530610533,496$11.6M0.57%
60Fleetcor Technologies33904110554,685$11.5M0.57%
61Zscaler IncZS93,750$11.0M0.54%
62Globant SAGLOB66,512$10.9M0.54%
63Gilead Sciences IncGILD129,955$10.8M0.53%
64Cisco Systems IncCSCO200,541$10.5M0.52%
65Walgreens Boots Alliance Inc931427108298,835$10.3M0.51%
66McDonald's CorpMCD36,322$10.2M0.50%
67Amazon.com IncAMZN95,088$9.8M0.48%
68Meta PlatformsMETA45,339$9.6M0.47%
69Automatic Data ProcADP42,157$9.4M0.46%
70Accenture LTD Cl AACN32,734$9.4M0.46%
71Amphenol Corp Cl A032095101112,880$9.2M0.45%
72Bristol-Myers SquibbCELG-RI133,017$9.2M0.45%
73Clorox CoCLX57,652$9.1M0.45%
74Workday Inc Cl AWDAY43,370$9.0M0.44%
75Texas Instruments88250810448,064$8.9M0.44%
76Nike IncNKE70,502$8.6M0.43%
77Lululemon Athletica IncLULU23,641$8.6M0.42%
78Taiwan Semiconductor87403910092,470$8.6M0.42%
79Verizon Comm IncVZ215,277$8.4M0.41%
80MSCI IncMSCI14,899$8.3M0.41%
81iShares MSCI EU Financial464289180445,300$8.3M0.41%
82Intel CorpINTC254,484$8.3M0.41%
83Rockwell AutomationROK28,188$8.3M0.41%
84Graco IncGGG112,035$8.2M0.40%
85Martin Marietta Materials57328410622,967$8.2M0.40%
86MTU Aero Engines AG62473g10265,020$8.1M0.40%
87Canadian Nat'l Railway13637510268,540$8.1M0.40%
88Capgemini13961r100217,785$8.1M0.40%
89NICE Systems LtdNCSYF35,263$8.1M0.40%
90Coca-Cola CoKO128,602$8.0M0.39%
91ASML Holdings NV NY Reg SharesASMLF11,540$7.9M0.39%
92Weyerhaeuser CoWY260,388$7.8M0.39%
93DBS Group23304y10078,872$7.8M0.39%
94Kimberly-Clark CorpKMB58,234$7.8M0.38%
95Edwards LifesciencesEW94,275$7.8M0.38%
96MercadoLibre IncMELI5,898$7.8M0.38%
97Union Pacific CorpUNP37,975$7.6M0.38%
98Xylem IncXYL72,600$7.6M0.37%
99Comcast Corp Cl ACCZ199,383$7.6M0.37%
100BlackRock, IncBLK11,183$7.5M0.37%
101HDFC Bank Ltd ADRHDB112,043$7.5M0.37%
102Discover Financial25470910874,645$7.4M0.36%
103Japan Index (ETF)46434g822125,300$7.4M0.36%
104Estee Lauder Cl A51843910429,607$7.3M0.36%
105Lockheed MartinLMT15,429$7.3M0.36%
106Toronto-Dominion BankTORO121,438$7.3M0.36%
107Vanguard US Tot Mkt ETF92290876935,631$7.3M0.36%
108Abbott LabsABLZF71,747$7.3M0.36%
109Emerson Electric CoEMR83,205$7.3M0.36%
110Diageo PLC ADRDGEAF40,009$7.2M0.36%
111Penumbra IncPEN25,960$7.2M0.36%
112Raytheon Technologies CoRTX73,274$7.2M0.35%
113EPAM SystemsEPAM23,940$7.2M0.35%
114Icon PLCICLR33,190$7.1M0.35%
115Terreno Realty CorpTRNO109,735$7.1M0.35%
116Veeva Systems IncVEEV38,451$7.1M0.35%
117Dow IncDOW128,779$7.1M0.35%
118Tyler Technologies IncTYL19,886$7.1M0.35%
119Newmont CorpNEMCL137,410$6.7M0.33%
120PayPal Holdings IncPYPL88,180$6.7M0.33%
121Sherwin WilliamsSHW29,743$6.7M0.33%
122Bank of America060505104232,536$6.7M0.33%
123Lonza Group AG54338v101102,145$6.1M0.30%
124Cogent Communications Hldgs InCCOI92,535$5.9M0.29%
125VF CorpVFC255,180$5.8M0.29%
126Berkshire Hathaway Cl BBRK-A18,799$5.8M0.29%
127Kraft Heinz CoKHC148,467$5.7M0.28%
128AT&T IncT-PC295,129$5.7M0.28%
129Amgen IncAMGN23,370$5.6M0.28%
130Iron Mountain IncIRM105,240$5.6M0.27%
131Garmin LtdGRMN55,134$5.6M0.27%
132Magna Int'l Cl A559222401103,655$5.6M0.27%
133Global Pmts IncGPN52,545$5.5M0.27%
134Ecolab IncECL32,877$5.4M0.27%
135WisdomTree Europe Hedged Eq FuWT65,265$5.4M0.26%
136Baxter Int'l Inc071813109130,855$5.3M0.26%
137iShares MSCI Emerging Mkts464287234132,018$5.2M0.26%
138Kinder Morgan IncEP-PC290,622$5.1M0.25%
139Euronet Worldwide IncEEFT45,197$5.1M0.25%
140Realty Income CorpO78,613$5.0M0.24%
141WEC Energy Group IncWEC52,321$5.0M0.24%
142TJX Companies87254010962,449$4.9M0.24%
143Shell PLC Fun Spon ADRRYDAF84,435$4.9M0.24%
144Grupo Aeroportuario Cen-ADR40050110254,045$4.8M0.24%
145Honeywell Int'l Inc43851610625,023$4.8M0.24%
146AstraZeneca PLCAZN65,195$4.5M0.22%
147Target CorpTGT27,186$4.5M0.22%
148United Parcel ServiceUPS23,023$4.5M0.22%
1493M CoMMM42,008$4.4M0.22%
150Welltower IncWELL60,192$4.3M0.21%
151Experian PLC30215c101128,970$4.2M0.21%
152Dassault Systems SA237545108102,436$4.2M0.21%
153Nestle SA ADR64106940634,329$4.2M0.21%
154MSC Industrial Direct Co-A55353010649,765$4.2M0.21%
155Atlassian Corp PLCTEAM24,088$4.1M0.20%
156Check Point SoftwareCHKP30,821$4.0M0.20%
157Colgate-Palmolive CoCL52,940$4.0M0.20%
158TELUS CorpTU199,905$4.0M0.20%
159Digital Realty Trust Inc25386810339,778$3.9M0.19%
160Vanguard S&P 500 ETF92290836310,364$3.9M0.19%
161Paychex IncPAYX33,881$3.9M0.19%
162The Toro CoTORO34,070$3.8M0.19%
163Air Products & ChemAIIR12,700$3.6M0.18%
164Whirlpool CorpWHR-PA27,495$3.6M0.18%
165Bank of Montreal06367110140,025$3.6M0.18%
166Duke Energy CorpDUKB36,426$3.5M0.17%
167Applied Materials Inc03822210528,290$3.5M0.17%
168Aflac IncAFL52,050$3.4M0.17%
169Techtronic INDS LTD SP ADR87873r10161,911$3.3M0.16%
170Valero Energy CorpVLO23,200$3.2M0.16%
171ProShares S&P 500 Div Aristocr74348a46734,925$3.2M0.16%
172Brookfield Asset Mgmt Cl A11300410597,121$3.2M0.16%
173Endava PlcDAVA46,927$3.2M0.16%
174American ExpressAXP19,010$3.1M0.15%
175Caterpillar IncCAT12,365$2.8M0.14%
176Gentex CorpGNTX98,850$2.8M0.14%
177Vanguard Short-Term Corp Bond92206c40934,734$2.6M0.13%
178BP PLC ADRBPPFF69,320$2.6M0.13%
179ConocoPhillipsCOP26,473$2.6M0.13%
180Vanguard Total Intl Stk ETF92190976846,440$2.6M0.13%
181Vanguard Total Bond Market ETF92193783534,615$2.6M0.13%
182Pinnacle Financial PartnersPNFP-PA44,757$2.5M0.12%
183Deere & CoDE5,735$2.4M0.12%
184Oracle CorpORCL-PD25,336$2.4M0.12%
185Progressive Corp74331510315,495$2.2M0.11%
186Travelers Company IncTRV12,427$2.1M0.10%
187Cardinal HealthCAH27,643$2.1M0.10%
188Neogen CorpNEOG112,407$2.1M0.10%
189Ford Motor Co345370860164,056$2.1M0.10%
190CME Group IncCME9,893$1.9M0.09%
191Pinnacle West Cap CorpPNW23,250$1.8M0.09%
192NextEra EnergyNEE-PW23,804$1.8M0.09%
193Nordson CorporationNDSN8,245$1.8M0.09%
194Ingredion IncINGR17,980$1.8M0.09%
195Southern CoSOMN26,240$1.8M0.09%
196iShares S&P MidCap 4004642875077,237$1.8M0.09%
197Hershey CoHSY7,075$1.8M0.09%
198iShares-Russell 20004642876559,801$1.7M0.09%
199Microchip TechnologyMCHPP20,705$1.7M0.09%
200Wells Fargo & Co94974610143,690$1.6M0.08%
201iShares MSCI EAFE46428746522,051$1.6M0.08%
202Vanguard Mid-Cap ETF9229086297,380$1.6M0.08%
203Vanguard Small Cap ETF9229087517,906$1.5M0.07%
204Alphabet Inc Cl CGOOG14,255$1.5M0.07%
205Truist Financial CorpTFC-PR42,930$1.5M0.07%
2061/100 Berkshire CLA 100=1 BRKBRK-A300$1.4M0.07%
207DTE Energy CoDTK11,800$1.3M0.06%
208Qualcomm IncQCOM9,986$1.3M0.06%
209Motorola SolutionsMSI4,265$1.2M0.06%
210Sysco CorpSYY15,420$1.2M0.06%
211Comerica Inc20034010727,176$1.2M0.06%
212Federal Rlty Invt Tr31374510111,655$1.2M0.06%
213iShares S&P PFD Stock Fund46428868736,750$1.1M0.06%
214Vanguard Short-Term Treas ETF92206c10217,675$1.0M0.05%
215Dominion Energy IncD18,058$1.0M0.05%
216Illinois Tool Works4523081093,975$967,7140.05%
217Eaton Corp PLCETN5,640$966,3580.05%
218PPG Industries Inc6935061077,179$958,9710.05%
219Intermediate Gov/Credit ETF4642886129,145$955,5610.05%
220DuPont de Nemours IncDD13,184$946,2350.05%
221Lowe's Companies5486611074,526$905,0640.04%
222Genuine Parts CoGPC5,396$902,8050.04%
223iShares S&P 500 Val4642874085,892$894,1700.04%
224F5 Networks IncFFIV6,082$886,0870.04%
225Medtronic PLCMDT10,765$867,9090.04%
226Grainger W.W. Inc3848021041,245$857,5680.04%
227General Electric Co3696043018,515$814,0340.04%
228Adobe Systems IncADBE1,866$719,1000.04%
229iShares Trust S&P 5004642872001,746$717,7460.04%
230iShares S&P 500 Growth46428730910,795$689,6930.03%
231Analog DevicesADI3,447$679,8170.03%
232FedEx CorpFDX2,918$666,7340.03%
233Blackstone Group IncBX7,450$654,4080.03%
234Yum! Brands IncYUM4,863$642,3050.03%
235Allstate CorpALL-PJ5,760$638,2660.03%
236iShares-Russell 10004642876222,749$619,1570.03%
237Philip Morris Int'l7181721096,250$607,8120.03%
2381-3yr Treasury Bond ETF4642874577,216$592,8670.03%
239NuVasive IncNU14,216$587,2630.03%
240Avery Dennison CorpAVY3,235$578,8390.03%
241Enbridge IncENNPF15,187$578,3230.03%
242Marathon Petroleum CorpMPC4,275$576,3980.03%
243RPM Int'l Inc7496851036,598$575,6100.03%
244SPDR S&P 500 ETF TrustSPY1,341$549,1480.03%
245Cincinnati Financial Corp1720621014,798$537,7600.03%
246Lamb Weston HoldingsLW4,683$489,4670.02%
247Goldman Sachs GrpGSCE1,488$486,7400.02%
248General Mills Inc3703341045,660$483,7040.02%
249Consolidated EdisonED5,000$478,3500.02%
250Huntington BancsharesHBANP42,569$476,7730.02%
251Parker Hannifin CorpPH1,400$470,5540.02%
252Exelon CorpEXC10,956$458,9470.02%
253iShares S&P Smallcap 600 Value4642878794,844$453,3850.02%
254Snap-On IncSNA1,791$442,1800.02%
255J M Smucker Co8326964052,750$432,7670.02%
256iShares Gold TrustIAU11,443$427,6250.02%
257Pentair PlcPNR7,440$411,2090.02%
258Donaldson Co IncDCI6,100$398,5740.02%
259Conagra Foods IncCAG10,225$384,0510.02%
260Viatris IncVTRS39,406$379,0860.02%
261Altria Group IncMO8,100$361,4220.02%
262Aptiv PLCAPTV3,215$360,6910.02%
263iShares Floating Rate Bond ETF46429b6557,105$358,0210.02%
264McCormick & CoMKC-V4,260$354,4750.02%
265PNC Financial6934751052,785$353,9730.02%
266Carrier Global CorpCARR7,365$336,9490.02%
267iShares iBonds Dec 2024 Corp E46434vbg413,300$327,0470.02%
268Vanguard Intermediate-Term Cor92206c8704,075$326,8960.02%
269Otis Worldwide CorpOTIS3,741$315,7400.02%
270FortinetFTNT4,615$306,7130.02%
271Stanley Black & Decker IncSWK3,725$300,1600.01%
272iShares Broad USD Inv Grade C4642886205,881$297,9310.01%
273DT Midstream IncDTM5,974$294,9360.01%
274SPDR S&P 600 Small Cap Value E78464a3003,850$293,2930.01%
275Mercantile Bank Corp5873761049,189$281,0000.01%
276S&P Global IncSPGI815$280,9880.01%
277Brookfield Renewable PartnersG162581088,775$276,5000.01%
278SPDR Gold TrustGLD1,500$274,8300.01%
279STERIS PlcSTE1,390$265,8790.01%
280Moderna IncMRNA1,708$262,3150.01%
281Essex Property Trust Inc2971781051,200$250,9680.01%
282Expeditors Int'l of WA3021301092,250$247,7700.01%
283Vanguard High DVD Yield ETF9219464062,318$244,5490.01%
284Danaher Corp235851102969$244,2270.01%
285Phillips 66PSX2,349$238,1420.01%
286Globus Medical IncGMED4,145$234,7730.01%
287GE Healthcare TechnologiesGEHC2,831$232,2270.01%
288Roper Industries IncROP525$231,3620.01%
289Becton DickinsonBDX923$228,4790.01%
290iShares DJ Select DVD Index4642871681,918$224,7050.01%
291CMS Energy CorpCMS-PC3,622$222,3180.01%
292Cullen/Frost BankersCFR-PB2,050$215,9470.01%
293US BancorpUSB-PS5,937$214,0290.01%
294Yum China Holding IncYUMC3,348$212,2300.01%
295Waste Management IncWM1,300$212,1210.01%
296BorgWarner IncBWA4,300$211,1730.01%
297iShares S&P Smallcap 6004642878042,139$206,8410.01%
298Amer Electric Power0255371012,250$204,7270.01%
299Wolfspeed Inc.WOLF3,150$204,5920.01%
300SPDR Barclays Capital HY78468r6222,198$204,0180.01%
301iShares Short Term Corp Bond E4642886464,000$202,1600.01%
302Wallbridge Mining Co Ltd93239710210,000$1,1500.00%
303Invesco Van Kampen Muni.Op.TrIVZ43,613$00.00%