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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 Q3 2025 · Filed November 14, 2025 · Accession 0001942364-25-000009

Total Value
$2.78B
Positions
298
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (298)

#IssuerTicker / CUSIPSharesValue% of Filing
1Microsoft CorpMSFT254,333$131.7M4.73%
2NVIDIA CorpNVDA568,289$106.0M3.81%
3Apple IncAAPL394,561$100.5M3.61%
4Broadcom IncAVGO254,298$83.9M3.01%
5Alphabet Inc Cl AGOOG261,897$63.7M2.29%
6Eli Lilly and CoLLY65,013$49.6M1.78%
7Wells Fargo & Co949746101532,533$44.6M1.60%
8Bank of New York Mellon Corp064058100400,707$43.7M1.57%
9Bank of America Corp060505104803,023$41.4M1.49%
10Visa Inc Cl AV118,270$40.4M1.45%
11Oracle CorpORCL-PD128,959$36.3M1.30%
12Stryker CorpSYK94,289$34.9M1.25%
13Netflix IncNFLX27,864$33.4M1.20%
14Intercontinental Exchange IncICE195,033$32.9M1.18%
15Meta Platforms IncMETA44,607$32.8M1.18%
16JPMorgan Chase & CoVYLD101,524$32.0M1.15%
17Monolithic Power Systems Inc60983910533,554$30.9M1.11%
18Corteva IncCTVA454,878$30.8M1.11%
19PepsiCo IncPEP205,275$28.8M1.04%
20Boeing CoBA-PA127,769$27.6M0.99%
21HEICO CorpHEI-A82,042$26.5M0.95%
22WEC Energy Group IncWEC228,733$26.2M0.94%
23Amazon.com IncAMZN116,720$25.6M0.92%
24T-Mobile US IncTMUSZ104,956$25.1M0.90%
25Walmart IncWMT241,197$24.9M0.89%
26AbbVie IncABBV107,196$24.8M0.89%
27Exxon Mobil CorpXOM219,266$24.7M0.89%
28Costco Wholesale CorpCOST25,028$23.2M0.83%
29Linde PLCLIN48,552$23.1M0.83%
30Autodesk IncADSK70,898$22.5M0.81%
31Amphenol Corp Cl A032095101181,496$22.5M0.81%
32IBMINTR77,370$21.8M0.78%
33Uber Technologies IncUBER218,999$21.5M0.77%
34Fastenal CoFAST435,191$21.3M0.77%
35Axon Enterprise IncAXON29,714$21.3M0.77%
36Mastercard Inc Cl AMA36,450$20.7M0.74%
37Veeva Systems IncVEEV69,581$20.7M0.74%
38IDEXX Laboratories Inc45168d10431,962$20.4M0.73%
39iShares MSCI Europe Financials464289180587,705$20.2M0.73%
40Casey's General Stores Inc14752810335,152$19.9M0.71%
41ServiceNow IncNOW21,545$19.8M0.71%
42Intuit IncINTU28,616$19.5M0.70%
43Workday Inc Cl AWDAY81,060$19.5M0.70%
44Penumbra IncPEN75,253$19.1M0.68%
45Advanced Micro Devices IncAMD115,634$18.7M0.67%
46Roper Technologies IncROP36,552$18.2M0.65%
47Republic Services Inc76075910079,117$18.2M0.65%
48MSCI IncMSCI31,808$18.0M0.65%
49Home Depot IncHD44,009$17.8M0.64%
50General Dynamics CorpGD51,186$17.5M0.63%
51Johnson & JohnsonJNJ92,676$17.2M0.62%
52Taiwan Semiconductor Mfg Co Lt87403910058,904$16.5M0.59%
53Airbus SE ADRAIIR267,970$15.5M0.56%
54Chevron CorpCVX99,641$15.5M0.56%
55ResMed IncRSMDF55,675$15.2M0.55%
56Intuitive Surgical IncISRG33,469$15.0M0.54%
57CrowdStrike Holdings IncCRWD30,397$14.9M0.54%
58BlackRock IncBLK12,708$14.8M0.53%
59Chubb LtdCB51,168$14.4M0.52%
60Duke Energy CorpDUKB116,696$14.4M0.52%
61Nintendo Co Ltd ADRNODK649,668$14.1M0.51%
62Palo Alto Networks IncPANW68,561$14.0M0.50%
63MercadoLibre IncMELI5,838$13.6M0.49%
64Xylem IncXYL91,733$13.5M0.49%
65Marvell Technology IncMRVL160,915$13.5M0.49%
66iShares MSCI Emerging Markets464287234252,738$13.5M0.48%
67Citigroup IncC-PR132,014$13.4M0.48%
68Vanguard US Tot Mkt ETF92290876939,745$13.0M0.47%
69Yum! Brands IncYUM82,957$12.6M0.45%
70Johnson Controls Int'lJCI113,160$12.4M0.45%
71State Street CorpSTT-PG107,107$12.4M0.45%
72MTU Aero Engines AG ADR62473g10253,118$12.2M0.44%
73Sherwin-Williams CoSHW35,214$12.2M0.44%
74PNC Financial Services Group I69347510559,542$12.0M0.43%
75ASML Holding NV ADRASMLF12,343$11.9M0.43%
76Mondelez International Inc609207105190,846$11.9M0.43%
77Walt Disney Co254687106103,022$11.8M0.42%
78Merck & Co IncMRK137,477$11.5M0.41%
79Verizon Communications IncVZ257,078$11.3M0.41%
80Principal Financial Group Inc74251v102134,405$11.1M0.40%
813M CoMMM71,665$11.1M0.40%
82Marsh & McLennan Companies Inc57174810255,034$11.1M0.40%
83Procter & Gamble Co74271810971,505$11.0M0.39%
84Ross Stores IncROST70,760$10.8M0.39%
85Union Pacific CorpUNP44,717$10.6M0.38%
86Texas Instruments Inc88250810457,203$10.5M0.38%
87Gilead Sciences IncGILD93,854$10.4M0.37%
88Terreno Realty CorpTRNO183,147$10.4M0.37%
89Coca-Cola CoKO155,352$10.3M0.37%
90Cisco Systems IncCSCO150,278$10.3M0.37%
91Welltower IncWELL56,349$10.0M0.36%
92iShares MSCI Japan ETF46434g822123,700$9.9M0.36%
93Neurocrine Biosciences IncNBIX70,678$9.9M0.36%
94Southern CoSOMN104,086$9.9M0.35%
95Starbucks CorpSBUX115,131$9.7M0.35%
96SLB LtdSLB280,477$9.6M0.35%
97WisdomTree Europe Hedged EquitWT188,715$9.5M0.34%
98Salesforce IncCRM39,898$9.5M0.34%
99Vanguard Total Bond Market ETF921937835124,875$9.3M0.33%
100Lonza Group AG ADR54338v101139,435$9.2M0.33%
101Fiserv IncFISV71,573$9.2M0.33%
102Emerson Electric CoEMR70,155$9.2M0.33%
103Pfizer IncPFE360,676$9.2M0.33%
104UnitedHealth Group IncUNH26,328$9.1M0.33%
105Experian PLC ADR30215c101181,172$9.1M0.33%
106Tyler Technologies IncTYL17,213$9.0M0.32%
107Automatic Data Processing IncADP30,474$8.9M0.32%
108AstraZeneca PLC ADRAZN116,275$8.9M0.32%
109HDFC Bank Ltd ADRHDB260,264$8.9M0.32%
110Zoetis IncZTS59,346$8.7M0.31%
111CoStar Group IncCSGP102,493$8.6M0.31%
112Corpay IncCPAY29,758$8.6M0.31%
113Abbott LabsABLZF61,755$8.3M0.30%
114RTX CorpRTX48,629$8.1M0.29%
115Vertex Pharmaceuticals Inc92532f10020,348$8.0M0.29%
116CME Group IncCME29,189$7.9M0.28%
117McDonald's CorpMCD25,924$7.9M0.28%
118Accenture Plc Cl AACN31,207$7.7M0.28%
119Kinder Morgan IncEP-PC269,735$7.6M0.27%
120Agilent Technologies IncA56,494$7.3M0.26%
121Paychex IncPAYX56,807$7.2M0.26%
122Iron Mountain IncIRM69,326$7.1M0.25%
123Atlassian CorpTEAM44,251$7.1M0.25%
124Chipotle Mexican Grill IncCMG179,591$7.0M0.25%
125Berkshire Hathaway Inc Cl BBRK-A13,857$7.0M0.25%
126Rockwell Automation IncROK19,202$6.7M0.24%
127Medtronic PLCMDT66,484$6.3M0.23%
128Barclays PLC ADRBCLYF290,968$6.0M0.22%
129iShares S&P Smallcap 600 Growt46428788741,470$5.9M0.21%
130Ecolab IncECL20,524$5.6M0.20%
131TJX Companies Inc87254010938,416$5.6M0.20%
132Lockheed Martin CorpLMT10,965$5.5M0.20%
133Weyerhaeuser CoWY218,534$5.4M0.19%
134Invesco S&P 500 Eq Wt ETFIVZ28,280$5.4M0.19%
135Amgen IncAMGN18,712$5.3M0.19%
136Brookfield Asset Management Lt11300410592,133$5.2M0.19%
137Vanguard Total Intl Stk ETF92190976871,200$5.2M0.19%
138Aflac IncAFL46,395$5.2M0.19%
139Check Point Software TechnologCHKP24,896$5.2M0.19%
140Techtronic Industries Co Ltd A87873r10180,230$5.1M0.18%
141DBS Group Holdings Ltd ADR23304y10031,270$5.0M0.18%
142AT&T IncT-PC175,481$5.0M0.18%
143Caterpillar IncCAT10,365$4.9M0.18%
144Bristol-Myers Squibb CoCELG-RI105,342$4.8M0.17%
145Wal-Mart de Mexico SAB de CV A93114w107145,230$4.5M0.16%
146Daiichi Sankyo Co Ltd ADR23381d102198,955$4.5M0.16%
147Shell PLC ADRRYDAF62,390$4.5M0.16%
148DSV A/S ADR26251a10842,656$4.2M0.15%
149London Stock Exchange Group PLLSEGY147,864$4.2M0.15%
150Clorox CoCLX34,302$4.2M0.15%
151Anheuser-Busch Inbev ADRBUDFF70,395$4.2M0.15%
152Hershey CoHSY22,390$4.2M0.15%
153iShares MSCI EAFE ETF46428746543,118$4.0M0.14%
154NICE Ltd ADRNCSYF27,737$4.0M0.14%
155Alphabet Inc Cl CGOOG16,307$4.0M0.14%
156iShares S&P Smallcap 600 Value46428787934,774$3.8M0.14%
157Colgate-Palmolive CoCL47,650$3.8M0.14%
158Nestle SA ADR64106940641,184$3.8M0.14%
159Kimberly-Clark CorpKMB28,942$3.6M0.13%
160Public Storage REITPSA-PS12,245$3.5M0.13%
161iShares Russell 1000 Growth ET4642876147,342$3.4M0.12%
162American Express CoAXP10,352$3.4M0.12%
163Air Products & Chemicals IncAIIR12,412$3.4M0.12%
164iShares Russell 1000 Value ETF46428759816,413$3.3M0.12%
165Realty Income CorpO54,388$3.3M0.12%
166Viper Energy IncVNOM85,540$3.3M0.12%
167Dominion Energy IncD51,541$3.2M0.11%
168Best Buy Co IncBBY41,362$3.1M0.11%
169Canadian National Railway Co13637510232,054$3.0M0.11%
170Nordson CorpNDSN11,788$2.7M0.10%
171Gentex CorpGNTX91,240$2.6M0.09%
172Travelers Companies IncTRV9,237$2.6M0.09%
173Honeywell International Inc43851610611,748$2.5M0.09%
174Intel CorpINTC71,875$2.4M0.09%
175Target CorpTGT25,683$2.3M0.08%
176Pinnacle West Capital CorpPNW24,500$2.2M0.08%
177GE Aerospace3696043017,148$2.2M0.08%
178BP PLC ADRBPPFF62,375$2.1M0.08%
179iShares S&P MidCap 40046428750731,060$2.0M0.07%
180NextEra Energy IncNEE-PW26,173$2.0M0.07%
181iShares Gold TrustIAU27,024$2.0M0.07%
182Applied Materials Inc0382221059,003$1.8M0.07%
183Comerica Inc20034010726,274$1.8M0.06%
184Ford Motor Co345370860147,361$1.8M0.06%
185Deere & CoDE3,656$1.7M0.06%
186QUALCOMM IncQCOM9,974$1.7M0.06%
187Palantir Technologies Inc Cl APLTR8,940$1.6M0.06%
188Thermo Fisher Scientific IncTMO3,333$1.6M0.06%
189Cardinal Health IncCAH10,018$1.6M0.06%
190Motorola Solutions IncMSI3,357$1.5M0.06%
191Berkshire Hathaway Inc Cl ABRK-A2$1.5M0.05%
192Blackstone IncBX8,002$1.4M0.05%
193ConocoPhillipsCOP13,166$1.2M0.04%
194iShares Russell 2000 ETF4642876555,062$1.2M0.04%
195GE Vernova IncGEV1,969$1.2M0.04%
196Airbnb Inc Cl AABNB9,900$1.2M0.04%
197Sysco CorpSYY14,450$1.2M0.04%
198Goldman Sachs Group IncGSCE1,486$1.2M0.04%
199iShares S&P 500 Growth ETF4642873099,708$1.2M0.04%
200DTE Energy CoDTK8,282$1.2M0.04%
201iShares S&P 500 Value ETF4642874085,493$1.1M0.04%
202Lowe's Companies Inc5486611074,354$1.1M0.04%
203SPDR Gold SharesGLD3,017$1.1M0.04%
204iShares Intermediate Gov/Credi4642886129,750$1.0M0.04%
205Progressive Corp7433151034,153$1.0M0.04%
206Vanguard S&P 500 ETF9229083631,592$974,7480.04%
207Eaton Corp PLCETN2,591$969,6820.03%
208Illinois Tool Works Inc4523081093,711$967,6800.03%
209iShares Russell 1000 ETF4642876222,556$934,1670.03%
210iShares S&P Smallcap 6004642878047,795$926,2800.03%
211Allstate CorpALL-PJ4,300$922,9950.03%
212W.W. Grainger Inc384802104880$838,6050.03%
213Adobe IncADBE2,222$783,8100.03%
214Huntington Bancshares IncHBANP42,093$726,9460.03%
215Analog Devices IncADI2,947$724,0780.03%
216Toro CoTORO9,430$718,5660.03%
217RPM International Inc7496851036,050$713,1740.03%
218CMS Energy CorpCMS-PC9,622$704,9080.03%
219Marathon Petroleum CorpMPC3,564$686,9250.02%
220DuPont de Nemours IncDD8,719$679,1900.02%
221Cincinnati Financial Corp1720621014,273$675,5610.02%
222Newmont CorpNEMCL8,000$674,4800.02%
223Tesla IncTSLA1,512$672,4170.02%
224Altria Group IncMO10,100$667,2060.02%
225Corning IncGLW8,100$664,4430.02%
226Philip Morris International In7181721094,075$660,9650.02%
227SPDR S&P 500 ETF TrustSPY990$659,5180.02%
228PPG Industries Inc6935061076,154$646,8470.02%
229Globus Medical IncGMED11,183$640,4500.02%
230iShares Core S&P 500 ETF464287200948$634,4960.02%
231Parker-Hannifin CorpPH830$629,2640.02%
232FedEx CorpFDX2,668$629,1410.02%
233Enbridge IncENNPF12,457$628,6690.02%
234PayPal Holdings IncPYPL8,805$590,4630.02%
235iShares 1-3 Year Treasury Bond4642874577,003$580,9690.02%
236DT Midstream IncDTM4,854$548,7930.02%
237Snap-on IncSNA1,563$541,6260.02%
238Fortinet IncFTNT6,410$538,9530.02%
239Shopify Inc Cl ASHOP3,540$526,0790.02%
240Exelon CorpEXC11,650$524,3660.02%
241Valero Energy CorpVLO3,000$510,7800.02%
242Ingredion IncINGR4,160$507,9780.02%
243Neogen CorpNEOG86,700$495,0570.02%
244Genuine Parts CoGPC3,491$483,8530.02%
245Donaldson Co IncDCI5,800$474,7300.02%
246Cameco CorpCCJ5,600$469,6160.02%
247Avery Dennison CorpAVY2,860$463,8060.02%
248McCormick & Co IncMKC-V6,635$443,9480.02%
249ProShares S&P 500 Div Aristocr74348a4674,235$436,5010.02%
250Mercantile Bank Corp5873761049,189$413,5050.01%
251S&P Global IncSPGI840$408,8360.01%
252Consolidated Edison IncED4,050$407,1060.01%
253Waste Management IncWM1,800$397,4940.01%
254Pentair PLCPNR3,400$376,5840.01%
255Expeditors Int'l of WA3021301093,050$373,8990.01%
256SPDR Index Dvlpd Wrld Ex-US ET78463x8898,701$372,3160.01%
257Carrier Global CorpCARR6,128$365,8420.01%
258InterContinental Hotels GroupINTR3,000$363,7800.01%
259United Parcel Service IncUPS4,250$355,0020.01%
260STERIS PLCSTE1,408$348,3960.01%
261Flutter Entertainment PLCFLUT1,363$346,2020.01%
262VanEck Gold Miners ETF92189f1064,515$344,9460.01%
263Essex Property Trust Inc2971781051,200$321,1920.01%
264Zscaler IncZS1,050$314,6430.01%
265Constellation Energy CorpCEG946$311,3000.01%
266Vanguard Intermediate-Term Cor92206c8703,655$307,4220.01%
267Private Bancorp of America Inc74274f1005,200$307,0600.01%
268Danaher Corp2358511021,542$305,7170.01%
269Charles Schwab CorpSCHW-PJ3,149$300,6350.01%
270Garmin LtdGRMN1,193$293,7400.01%
271First Horizon CorpFHN-PH12,950$292,7990.01%
272iShares Broad USD Inv Grade Co4642886204,958$258,9070.01%
273Delta Air Lines IncDAL4,525$256,7940.01%
274Boston Scientific CorpBSX2,553$249,2490.01%
275SPDR S&P 600 Small Cap Value E78464a3002,800$248,2200.01%
276General Mills Inc3703341044,810$242,5200.01%
277Bank OZKOZKAP4,700$239,6060.01%
278General Motors Co37045v1003,920$239,0020.01%
279Evercore Inc29977a105700$236,1240.01%
280American Electric Power Co Inc0255371012,050$230,6250.01%
281Novo Nordisk ADRNONOF4,150$230,2830.01%
282Heico Corp Cl AHEI-A900$228,6810.01%
283ProShares S&P 400 MidCap Div A74347b6802,650$226,1510.01%
284Comcast Corp Cl ACCZ7,185$225,7530.01%
285Eversource EnergyES3,157$224,5890.01%
286iShares DJ Select DVD Index4642871681,567$222,6710.01%
287Unilever PLC ADRUNLYF3,735$221,4110.01%
288Atmos Energy CorpATO1,275$217,7060.01%
289SPDR Bloomberg High Yield Bond78468r6222,176$213,2260.01%
290CVS Health CorpCVS2,793$210,5640.01%
291Stanley Black & Decker IncSWK2,775$206,2660.01%
292Valley National Bancorp91979410719,450$206,1700.01%
293Vanguard Mid-Cap ETF922908629700$205,6180.01%
294Cintas CorpCTAS1,000$205,2600.01%
295Dow IncDOW8,874$203,4810.01%
296Esperion Therapeutics IncESPR22,000$58,3000.00%
297Wallbridge Mining Co Ltd93239710210,000$8620.00%
298Invesco Van Kampen Muni.Op.TrIVZ43,613$00.00%