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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 2025 · Filed August 13, 2025 · Accession 0001942364-25-000004

Total Value
$2.69B
Positions
299
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (299)

#IssuerTicker / CUSIPSharesValue% of Filing
1Microsoft CorpMSFT245,994$122.4M4.55%
2NVIDIA CorpNVDA564,966$89.3M3.32%
3Apple IncAAPL375,631$77.1M2.87%
4Broadcom IncAVGO276,632$76.3M2.84%
5Eli Lilly and CoLLY70,807$55.2M2.05%
6Alphabet Inc Cl AGOOG269,089$47.4M1.76%
7Wells Fargo & Co949746101532,148$42.6M1.59%
8Visa Inc Cl AV118,098$41.9M1.56%
9Netflix IncNFLX28,569$38.3M1.42%
10Bank of America Corp060505104803,802$38.0M1.42%
11Stryker CorpSYK94,928$37.6M1.40%
12Bank of New York Mellon Corp064058100407,612$37.1M1.38%
13Intercontinental Exchange IncICE195,508$35.9M1.33%
14Corteva IncCTVA452,208$33.7M1.25%
15Meta Platforms IncMETA41,802$30.9M1.15%
16JPMorgan Chase & CoVYLD103,068$29.9M1.11%
17Costco Wholesale CorpCOST28,105$27.8M1.04%
18HEICO CorpHEI-A83,771$27.5M1.02%
19Boeing CoBA-PA127,026$26.6M0.99%
20PepsiCo IncPEP200,609$26.5M0.99%
21Amazon.com IncAMZN117,903$25.9M0.96%
22T-Mobile US IncTMUSZ105,991$25.3M0.94%
23Axon Enterprise IncAXON30,183$25.0M0.93%
24Monolithic Power Systems Inc60983910533,797$24.7M0.92%
25Walmart IncWMT252,138$24.7M0.92%
26WEC Energy Group IncWEC228,925$23.9M0.89%
27Exxon Mobil CorpXOM219,680$23.7M0.88%
28IBMINTR78,691$23.2M0.86%
29ServiceNow IncNOW21,995$22.6M0.84%
30Autodesk IncADSK72,408$22.4M0.83%
31Republic Services Inc76075910087,582$21.6M0.80%
32Roper Technologies IncROP37,722$21.4M0.80%
33Fiserv IncFISV122,875$21.2M0.79%
34Uber Technologies IncUBER222,237$20.7M0.77%
35Mastercard Inc Cl AMA36,852$20.7M0.77%
36Intuit IncINTU26,021$20.5M0.76%
37Veeva Systems IncVEEV70,726$20.4M0.76%
38AbbVie IncABBV109,277$20.3M0.75%
39Penumbra IncPEN77,611$19.9M0.74%
40Intuitive Surgical IncISRG35,032$19.0M0.71%
41iShares MSCI Europe Financials464289180586,420$18.5M0.69%
42MSCI IncMSCI32,131$18.5M0.69%
43Fastenal CoFAST435,755$18.3M0.68%
44Amphenol Corp Cl A032095101184,999$18.3M0.68%
45Casey's General Stores Inc14752810335,451$18.1M0.67%
46Home Depot IncHD44,743$16.4M0.61%
47Workday Inc Cl AWDAY66,209$15.9M0.59%
48Marvell Technology IncMRVL202,838$15.7M0.58%
49CrowdStrike Holdings IncCRWD30,795$15.7M0.58%
50Nintendo Co Ltd ADRNODK651,436$15.6M0.58%
51MercadoLibre IncMELI5,804$15.2M0.56%
52ResMed IncRSMDF58,125$15.0M0.56%
53Chubb LtdCB51,435$14.9M0.55%
54General Dynamics CorpGD50,862$14.8M0.55%
55Palo Alto Networks IncPANW70,037$14.3M0.53%
56Chevron CorpCVX99,794$14.3M0.53%
57Johnson & JohnsonJNJ92,836$14.2M0.53%
58Duke Energy CorpDUKB117,373$13.9M0.52%
59Oracle CorpORCL-PD62,859$13.7M0.51%
60Taiwan Semiconductor Mfg Co Lt87403910059,877$13.6M0.50%
61BlackRock IncBLK12,679$13.3M0.50%
62Walt Disney Co254687106105,439$13.1M0.49%
63Mondelez International Inc609207105191,185$12.9M0.48%
64IDEXX Laboratories Inc45168d10423,750$12.7M0.47%
65London Stock Exchange Group PLLSEGY346,290$12.6M0.47%
66Linde PLCLIN26,758$12.6M0.47%
67Marsh & McLennan Companies Inc57174810256,806$12.4M0.46%
68iShares MSCI Emerging Markets464287234255,476$12.3M0.46%
69Citigroup IncC-PR144,623$12.3M0.46%
70Sherwin-Williams CoSHW35,715$12.3M0.46%
71Advanced Micro Devices IncAMD84,753$12.0M0.45%
72Xylem IncXYL92,135$11.9M0.44%
73Yum! Brands IncYUM79,940$11.8M0.44%
74MTU Aero Engines AG ADR62473g10253,258$11.8M0.44%
75State Street CorpSTT-PG107,858$11.5M0.43%
76Procter & Gamble Co74271810971,855$11.4M0.43%
77Reinsurance Group of America I75935160456,729$11.3M0.42%
78PNC Financial Services Group I69347510560,271$11.2M0.42%
79Merck & Co IncMRK140,964$11.2M0.42%
80Vanguard US Tot Mkt ETF92290876936,648$11.1M0.41%
81Salesforce IncCRM40,686$11.1M0.41%
82Texas Instruments Inc88250810453,412$11.1M0.41%
83Verizon Communications IncVZ256,272$11.1M0.41%
84Coca-Cola CoKO155,155$11.0M0.41%
85Terreno Realty CorpTRNO194,587$10.9M0.41%
863M CoMMM71,084$10.8M0.40%
87Starbucks CorpSBUX115,733$10.6M0.39%
88Chipotle Mexican Grill IncCMG188,496$10.6M0.39%
89Cisco Systems IncCSCO152,130$10.6M0.39%
90Gilead Sciences IncGILD94,430$10.5M0.39%
91Tyler Technologies IncTYL17,633$10.5M0.39%
92Union Pacific CorpUNP44,725$10.3M0.38%
93ASML Holding NV ADRASMLF12,569$10.1M0.37%
94Corpay IncCPAY30,265$10.0M0.37%
95Schlumberger LtdSLB291,507$9.9M0.37%
96HDFC Bank Ltd ADRHDB127,117$9.7M0.36%
97Booz Allen Hamilton Holding CoBAH93,009$9.7M0.36%
98Automatic Data Processing IncADP31,249$9.6M0.36%
99Ross Stores IncROST75,537$9.6M0.36%
100Airbus SE ADRAIIR184,138$9.6M0.36%
101Accenture Plc Cl AACN32,043$9.6M0.36%
102Southern CoSOMN104,100$9.6M0.36%
103Lonza Group AG ADR54338v101134,645$9.6M0.36%
104Zoetis IncZTS61,126$9.5M0.35%
105Emerson Electric CoEMR71,080$9.5M0.35%
106Vertex Pharmaceuticals Inc92532f10021,032$9.4M0.35%
107iShares MSCI Japan ETF46434g822122,925$9.2M0.34%
108Vanguard Total Bond Market ETF921937835124,875$9.2M0.34%
109Neurocrine Biosciences IncNBIX71,997$9.0M0.34%
110WisdomTree Europe Hedged EquitWT187,790$9.0M0.34%
111Atlassian CorpTEAM43,378$8.8M0.33%
112CME Group IncCME31,953$8.8M0.33%
113Pfizer IncPFE363,240$8.8M0.33%
114Welltower IncWELL57,094$8.8M0.33%
115Abbott LabsABLZF62,644$8.5M0.32%
116UnitedHealth Group IncUNH27,239$8.5M0.32%
117Daiichi Sankyo Co Ltd ADR23381d102360,840$8.4M0.31%
118CoStar Group IncCSGP104,274$8.4M0.31%
119Paychex IncPAYX56,475$8.2M0.31%
120AstraZeneca PLC ADRAZN114,975$8.0M0.30%
121Kinder Morgan IncEP-PC271,235$8.0M0.30%
122McDonald's CorpMCD26,946$7.9M0.29%
123RTX CorpRTX49,732$7.3M0.27%
124Iron Mountain IncIRM68,662$7.0M0.26%
125Trade Desk Inc Cl A88339j10597,152$7.0M0.26%
126Berkshire Hathaway Inc Cl BBRK-A13,802$6.7M0.25%
127Agilent Technologies IncA56,307$6.6M0.25%
128Constellation Brands Inc Cl ASTZ40,821$6.6M0.25%
129Rockwell Automation IncROK19,465$6.5M0.24%
130Principal Financial Group Inc74251v10278,590$6.2M0.23%
131Medtronic PLCMDT67,307$5.9M0.22%
132Ecolab IncECL21,164$5.7M0.21%
133iShares S&P Smallcap 600 Growt46428788742,470$5.7M0.21%
134Weyerhaeuser CoWY217,976$5.6M0.21%
135Check Point Software TechnologCHKP24,987$5.5M0.21%
136Experian PLC ADR30215c101103,045$5.3M0.20%
137Barclays PLC ADRBCLYF283,534$5.3M0.20%
138Amgen IncAMGN18,585$5.2M0.19%
139AT&T IncT-PC179,260$5.2M0.19%
140Lockheed Martin CorpLMT11,134$5.2M0.19%
141DBS Group Holdings Ltd ADR23304y10036,547$5.2M0.19%
142Invesco S&P 500 Eq Wt ETFIVZ28,285$5.1M0.19%
143Brookfield Asset Management Lt11300410591,018$5.0M0.19%
144Vanguard Total Intl Stk ETF92190976871,200$4.9M0.18%
145Aflac IncAFL46,495$4.9M0.18%
146TJX Companies Inc87254010938,849$4.8M0.18%
147Wal-Mart de Mexico SAB de CV A93114w107144,890$4.8M0.18%
148Anheuser-Busch Inbev ADRBUDFF67,808$4.7M0.17%
149Nestle SA ADR64106940646,919$4.6M0.17%
150Bristol-Myers Squibb CoCELG-RI100,252$4.6M0.17%
151NICE Ltd ADRNCSYF27,414$4.6M0.17%
152Target CorpTGT46,591$4.6M0.17%
153Colgate-Palmolive CoCL48,750$4.4M0.16%
154Shell PLC ADRRYDAF62,800$4.4M0.16%
155Techtronic Industries Co Ltd A87873r10180,240$4.4M0.16%
156Dassault Systemes SE ADR237545108120,770$4.4M0.16%
157Kimberly-Clark CorpKMB33,592$4.3M0.16%
158Clorox CoCLX35,170$4.2M0.16%
159iShares MSCI EAFE ETF46428746546,547$4.2M0.15%
160Caterpillar IncCAT10,570$4.1M0.15%
161iShares S&P Smallcap 600 Value46428787938,774$3.9M0.14%
162Hershey CoHSY22,630$3.8M0.14%
163Public Storage REITPSA-PS12,326$3.6M0.13%
164Air Products & Chemicals IncAIIR12,312$3.5M0.13%
165Canadian National Railway Co13637510233,289$3.5M0.13%
166American Express CoAXP10,585$3.4M0.13%
167iShares Russell 1000 Growth ET4642876147,842$3.3M0.12%
168iShares Russell 1000 Value ETF46428759816,413$3.2M0.12%
169Realty Income CorpO54,305$3.1M0.12%
170Viper Energy IncVNOM80,575$3.1M0.11%
171Alphabet Inc Cl CGOOG16,152$2.9M0.11%
172Best Buy Co IncBBY42,405$2.8M0.11%
173Honeywell International Inc43851610612,199$2.8M0.11%
174Travelers Companies IncTRV9,772$2.6M0.10%
175Nordson CorpNDSN11,388$2.4M0.09%
176Pinnacle West Capital CorpPNW24,525$2.2M0.08%
177Cogent Communications HoldingsCCOI44,655$2.2M0.08%
178iShares S&P MidCap 40046428750733,060$2.1M0.08%
179Gentex CorpGNTX92,100$2.0M0.08%
180Deere & CoDE3,691$1.9M0.07%
181BP PLC ADRBPPFF62,100$1.9M0.07%
182GE Aerospace3696043017,148$1.8M0.07%
183Cardinal Health IncCAH10,928$1.8M0.07%
184Dow IncDOW65,934$1.7M0.06%
185Dominion Energy IncD30,841$1.7M0.06%
186Applied Materials Inc0382221059,113$1.7M0.06%
187NextEra Energy IncNEE-PW23,930$1.7M0.06%
188Intel CorpINTC73,755$1.7M0.06%
189Ford Motor Co345370860147,361$1.6M0.06%
190QUALCOMM IncQCOM9,870$1.6M0.06%
191iShares Russell 2000 ETF4642876556,971$1.5M0.06%
192Comerica Inc20034010725,024$1.5M0.06%
193Berkshire Hathaway Inc Cl ABRK-A2$1.5M0.05%
194Palantir Technologies Inc Cl APLTR10,400$1.4M0.05%
195Motorola Solutions IncMSI3,357$1.4M0.05%
196iShares Gold TrustIAU22,024$1.4M0.05%
197Thermo Fisher Scientific IncTMO3,363$1.4M0.05%
198Airbnb Inc Cl AABNB9,900$1.3M0.05%
199iShares S&P 500 Value ETF4642874086,323$1.2M0.05%
200ConocoPhillipsCOP13,223$1.2M0.04%
201Blackstone IncBX7,702$1.2M0.04%
202Progressive Corp7433151034,230$1.1M0.04%
203Sysco CorpSYY14,550$1.1M0.04%
204DTE Energy CoDTK8,282$1.1M0.04%
205Goldman Sachs Group IncGSCE1,486$1.1M0.04%
206GE Vernova IncGEV1,969$1.0M0.04%
207iShares Intermediate Gov/Credi4642886129,661$1.0M0.04%
208Lowe's Companies Inc5486611074,379$971,5690.04%
209Illinois Tool Works Inc4523081093,811$942,2700.04%
210SPDR Gold SharesGLD3,043$927,5980.03%
211W.W. Grainger Inc384802104880$915,4110.03%
212Vanguard S&P 500 ETF9229083631,611$914,9470.03%
213iShares S&P 500 Growth ETF4642873098,302$914,0500.03%
214Eaton Corp PLCETN2,491$889,2620.03%
215iShares Russell 1000 ETF4642876222,610$886,2780.03%
216Allstate CorpALL-PJ4,300$865,6330.03%
217Adobe IncADBE2,222$859,6470.03%
218Philip Morris International In7181721094,175$760,3930.03%
219Analog Devices IncADI3,047$725,2470.03%
220Huntington Bancshares IncHBANP41,886$702,0090.03%
221Fortinet IncFTNT6,410$677,6650.03%
222PPG Industries Inc6935061075,954$677,2670.03%
223Toro CoTORO9,565$676,0540.03%
224RPM International Inc7496851036,100$670,0240.02%
225CMS Energy CorpCMS-PC9,622$666,6120.02%
226PayPal Holdings IncPYPL8,805$654,3880.02%
227Cincinnati Financial Corp1720621014,298$640,0580.02%
228Globus Medical IncGMED10,608$626,0840.02%
229SPDR S&P 500 ETF TrustSPY999$617,2320.02%
230FedEx CorpFDX2,668$606,4630.02%
231United Parcel Service IncUPS6,000$605,6400.02%
232DuPont de Nemours IncDD8,815$604,6270.02%
233Altria Group IncMO10,100$592,1630.02%
234iShares Core S&P 500 ETF464287200948$588,6130.02%
235Ingredion IncINGR4,275$579,7750.02%
236Parker-Hannifin CorpPH830$579,7300.02%
237Marathon Petroleum CorpMPC3,475$577,2320.02%
238iShares 1-3 Year Treasury Bond4642874576,868$569,0820.02%
239Neogen CorpNEOG115,000$549,7000.02%
240Enbridge IncENNPF12,061$545,8960.02%
241DT Midstream IncDTM4,854$533,5030.02%
242Exelon CorpEXC11,850$514,5270.02%
243Avery Dennison CorpAVY2,910$510,6180.02%
244Snap-on IncSNA1,563$486,3740.02%
245Tesla IncTSLA1,517$481,8900.02%
246Newmont CorpNEMCL8,200$477,7320.02%
247McCormick & Co IncMKC-V6,035$457,5740.02%
248ProShares S&P 500 Div Aristocr74348a4674,535$456,6740.02%
249Vanguard Intermediate-Term Cor92206c8705,490$455,2310.02%
250Carrier Global CorpCARR6,206$454,2170.02%
251S&P Global IncSPGI840$442,9240.02%
252Genuine Parts CoGPC3,641$441,6900.02%
253Mercantile Bank Corp5873761049,189$426,4610.02%
254Waste Management IncWM1,800$411,8760.02%
255Consolidated Edison IncED4,102$411,6360.02%
256Valero Energy CorpVLO3,000$403,2600.02%
257Corning IncGLW7,650$402,3130.01%
258Donaldson Co IncDCI5,800$402,2300.01%
259Flutter Entertainment PLCFLUT1,363$389,4910.01%
260Cameco CorpCCJ5,230$388,2230.01%
261Shopify Inc Cl ASHOP3,315$382,3850.01%
262Danaher Corp2358511021,877$370,7830.01%
263SPDR Index Dvlpd Wrld Ex-US ET78463x8898,701$352,3030.01%
264Pentair PLCPNR3,400$349,0440.01%
265Expeditors Int'l of WA3021301093,050$348,4620.01%
266InterContinental Hotels GroupINTR3,000$346,0200.01%
267Essex Property Trust Inc2971781051,200$340,0800.01%
268STERIS PLCSTE1,408$338,2300.01%
269Zscaler IncZS1,050$329,6370.01%
270Constellation Energy CorpCEG981$316,6280.01%
271iShares S&P Smallcap 6004642878042,795$305,4660.01%
272Comcast Corp Cl ACCZ8,334$297,4400.01%
273Charles Schwab CorpSCHW-PJ3,149$287,3150.01%
274Private Bancorp of America Inc74274f1005,200$281,9440.01%
275Boston Scientific CorpBSX2,553$274,2180.01%
276First Horizon CorpFHN-PH12,900$273,4800.01%
277Baxter International Inc0718131098,500$257,3800.01%
278Garmin LtdGRMN1,203$251,0900.01%
279iShares Broad USD Inv Grade Co4642886204,818$247,8380.01%
280Becton Dickinson and CoBDX1,423$245,1120.01%
281General Mills Inc3703341044,685$242,7300.01%
282VanEck Gold Miners ETF92189f1064,515$235,0510.01%
283Heico Corp Cl AHEI-A900$232,8750.01%
284Unilever PLC ADRUNLYF3,735$228,4700.01%
285Delta Air Lines IncDAL4,612$226,8180.01%
286SPDR S&P 600 Small Cap Value E78464a3002,800$223,3280.01%
287Cintas CorpCTAS1,000$222,8700.01%
288Bank OZKOZKAP4,700$221,1820.01%
289General Motors Co37045v1004,454$219,1810.01%
290ProShares S&P 400 MidCap Div A74347b6802,650$216,0680.01%
291Kraft Heinz CoKHC8,283$213,8670.01%
292American Electric Power Co Inc0255371012,050$212,7080.01%
293iShares DJ Select DVD Index4642871681,567$208,1130.01%
294SPDR Bloomberg High Yield Bond78468r6222,128$206,9910.01%
295Brown-Forman Corp Cl BBF-B7,500$201,8250.01%
296Valley National Bancorp91979410719,450$173,6880.01%
297Esperion Therapeutics IncESPR22,000$21,6570.00%
298Wallbridge Mining Co Ltd93239710210,000$4780.00%
299Invesco Van Kampen Muni.Op.TrIVZ43,613$00.00%