Smith, Salley & Associates Top Holdings and 13F Report (2025)

About Smith, Salley & Associates

Investment Activity

Smith, Salley & Associates has $1.94 billion in total holdings as of September 30, 2025.
Smith, Salley & Associates owns shares of 263 different stocks, but just 49 companies or ETFs make up 80% of its holdings.
Approximately 5.52% of the portfolio was purchased this quarter.
About 1.90% of the portfolio was sold this quarter.
This quarter, Smith, Salley & Associates has purchased 255 new stocks and bought additional shares in 120 stocks.
Smith, Salley & Associates sold shares of 76 stocks and completely divested from 9 stocks this quarter.

Largest Holdings

NVIDIA: $150,834,733
Microsoft: $121,708,624
Apple: $104,452,006
Alphabet: $66,723,688
Amazon.com: $60,337,265

Largest New Holdings this Quarter

654106103 - NIKE: $847,332 Holding
46435UAA9 - iShares iBonds Dec 2027 Term Corporate ETF: $542,247 Holding
46435GAA0 - iShares iBonds Dec 2026 Term Corporate ETF: $540,335 Holding
46435U515 - iShares iBonds Dec 2028 Term Corporate ETF: $326,554 Holding
46434VBD1 - iShares iBonds Dec 2025 Term Corporate ETF: $313,011 Holding

Largest Purchases this Quarter

Eli Lilly and Company: 17,754 shares (about $13.55M)
AstraZeneca: 120,577 shares (about $9.25M)
Colgate-Palmolive: 110,034 shares (about $8.80M)
Broadcom: 15,233 shares (about $5.03M)
Microsoft: 9,137 shares (about $4.73M)

Largest Sales this Quarter

Merck & Co., Inc.: 115,841 shares (about $9.72M)
Alphabet: 7,846 shares (about $1.91M)
Chemed: 2,981 shares (about $1.33M)
iShares U.S. Equity Factor ETF: 5,378 shares (about $371.51K)
Emerson Electric: 1,984 shares (about $260.26K)

Sector Allocation Over Time

Selling

Neutral

Buying

Latest 13F Holdings and Changes Since Previous Quarterly Filing

Issuer Name	Holdings Value	Approximate Purchase/Sale	Change in Shares	Shares Held	% of Portfolio	Sector
NVDA NVIDIA	$150,834,733	$1,940,244 ▲	1.3%	808,419	7.8%	Computer and Technology
MSFT Microsoft	$121,708,624	$4,732,518 ▲	4.0%	234,981	6.3%	Computer and Technology
AAPL Apple	$104,452,006	$864,469 ▲	0.8%	410,211	5.4%	Computer and Technology
GOOG Alphabet	$66,723,688	$2,183,426 ▲	3.4%	273,963	3.4%	Computer and Technology
AMZN Amazon.com	$60,337,265	$2,505,297 ▲	4.3%	274,797	3.1%	Retail/Wholesale
META Meta Platforms	$58,458,532	$2,098,847 ▲	3.7%	79,603	3.0%	Computer and Technology
JPM JPMorgan Chase & Co.	$53,334,112	$88,636 ▼	-0.2%	169,084	2.7%	Finance
BRK.B Berkshire Hathaway	$51,473,046	$853,150 ▲	1.7%	102,385	2.6%	Finance
TJX TJX Companies	$40,518,092	$967,119 ▲	2.4%	280,324	2.1%	Retail/Wholesale
V Visa	$40,333,570	$1,056,909 ▲	2.7%	118,149	2.1%	Business Services
RTX RTX	$38,013,168	$1,645,689 ▲	4.5%	227,175	2.0%	Aerospace
ABBV AbbVie	$36,795,578	$1,137,091 ▲	3.2%	158,917	1.9%	Medical
LOW Lowe's Companies	$33,438,135	$899,189 ▲	2.8%	133,055	1.7%	Retail/Wholesale
AVGO Broadcom	$31,891,165	$5,025,532 ▲	18.7%	96,666	1.6%	Computer and Technology
BN Brookfield	$30,136,100	$163,015 ▼	-0.5%	439,430	1.6%	Finance
MA Mastercard	$29,138,680	$142,204 ▼	-0.5%	51,227	1.5%	Business Services
ASML ASML	$28,987,237	$125,850 ▲	0.4%	29,943	1.5%	Computer and Technology
TMO Thermo Fisher Scientific	$28,541,424	$858,969 ▲	3.1%	58,846	1.5%	Medical
ARISTA NETWORKS INC	$28,092,066	$1,277,005 ▲	4.8%	192,794	1.4%	COM SHS
ADI Analog Devices	$26,883,618	$515,235 ▲	2.0%	109,416	1.4%	Computer and Technology
NEE NextEra Energy	$26,490,384	$995,488 ▲	3.9%	350,912	1.4%	Utilities
LINDE PLC	$25,361,702	$886,351 ▲	3.6%	53,393	1.3%	SHS
ABT Abbott Laboratories	$25,127,494	$740,017 ▲	3.0%	187,603	1.3%	Medical
PG Procter & Gamble	$24,862,975	$886,405 ▲	3.7%	161,816	1.3%	Consumer Staples
AME AMETEK	$24,676,332	$248,912 ▼	-1.0%	131,257	1.3%	Computer and Technology
MRVL Marvell Technology	$24,054,441	$194,370 ▲	0.8%	286,124	1.2%	Computer and Technology
CVX Chevron	$19,450,998	$171,440 ▼	-0.9%	125,256	1.0%	Energy
NXPI NXP Semiconductors	$18,934,283	$256,195 ▼	-1.3%	83,144	1.0%	Computer and Technology
SPGI S&P Global	$18,926,135	$256,495 ▲	1.4%	38,886	1.0%	Finance
UNP Union Pacific	$18,767,272	$444,375 ▲	2.4%	79,398	1.0%	Transportation
GOOGL Alphabet	$18,313,812	$1,907,375 ▼	-9.4%	75,334	0.9%	Computer and Technology
CW Curtiss-Wright	$17,911,452	$253,551 ▲	1.4%	32,990	0.9%	Aerospace
PEP PepsiCo	$17,864,914	$14,887 ▲	0.1%	127,207	0.9%	Consumer Staples
ROPER TECHNOLOGIES INC	$17,688,841	$206,455 ▼	-1.2%	35,471	0.9%	COM
MKL Markel Group	$17,631,373	$225,529 ▼	-1.3%	9,225	0.9%	Multi-Sector Conglomerates
CASY Casey's General Stores	$17,328,299	$2,261 ▼	0.0%	30,652	0.9%	Retail/Wholesale
PNC The PNC Financial Services Group	$15,587,667	$496,495 ▲	3.3%	77,578	0.8%	Finance
MDT Medtronic	$15,403,793	$98,287 ▼	-0.6%	161,737	0.8%	Medical
LLY Eli Lilly and Company	$14,844,178	$13,546,314 ▲	1,043.7%	19,455	0.8%	Medical
MBB iShares MBS ETF	$14,416,021	$849,977 ▲	6.3%	151,508	0.7%	ETF
ACN Accenture	$14,189,980	$349,435 ▲	2.5%	57,542	0.7%	Computer and Technology
NOC Northrop Grumman	$13,071,282	$99,930 ▼	-0.8%	21,452	0.7%	Aerospace
ELV Elevance Health	$12,876,991	$2,657,988 ▲	26.0%	39,852	0.7%	Medical
XYL Xylem	$12,037,939	$153,253 ▼	-1.3%	81,613	0.6%	Business Services
IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF	$10,958,936	$2,153,340 ▲	24.5%	206,655	0.6%	Manufacturing
TDG Transdigm Group	$10,690,046	$38,221 ▼	-0.4%	8,111	0.6%	Aerospace
AZN AstraZeneca	$10,451,416	$9,250,671 ▲	770.4%	136,228	0.5%	Medical
FTEC Fidelity MSCI Information Technology Index ETF	$10,118,497	$99,088 ▼	-1.0%	45,544	0.5%	ETF
CL Colgate-Palmolive	$10,055,452	$8,796,152 ▲	698.5%	125,787	0.5%	Consumer Staples
IEFA iShares Core MSCI EAFE ETF	$9,756,827	$79,190 ▼	-0.8%	111,749	0.5%	ETF
JNJ Johnson & Johnson	$9,536,165	$1,016,659 ▲	11.9%	51,430	0.5%	Medical
XOM Exxon Mobil	$8,476,049	$1,199,992 ▲	16.5%	75,176	0.4%	Energy
WMT Walmart	$8,397,911	$629,076 ▲	8.1%	81,486	0.4%	Retail/Wholesale
HD Home Depot	$8,070,900	$55,105 ▲	0.7%	19,919	0.4%	Retail/Wholesale
BAC Bank of America	$7,302,217	$834,160 ▲	12.9%	141,543	0.4%	Finance
CAT Caterpillar	$7,282,520	$1,051,607 ▲	16.9%	15,263	0.4%	Industrials
IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF	$7,160,164	$433,369 ▲	6.4%	132,375	0.4%	Manufacturing
TLT iShares 20+ Year Treasury Bond ETF	$6,779,126	$438,536 ▲	6.9%	75,855	0.3%	ETF
DUK Duke Energy	$6,759,418	$50,737 ▲	0.8%	54,622	0.3%	Utilities
CHE Chemed	$6,523,761	$1,334,752 ▼	-17.0%	14,570	0.3%	Medical
BAM Brookfield Asset Management	$6,516,653	$101,638 ▼	-1.5%	114,448	0.3%	Finance
ETN Eaton	$6,285,942	$347,306 ▲	5.8%	16,796	0.3%	Industrials
FBNC First Bancorp	$5,851,961	$52,890 ▼	-0.9%	110,644	0.3%	Finance
KO CocaCola	$5,189,309	$843,784 ▲	19.4%	78,247	0.3%	Consumer Staples
MCO Moody's	$5,145,886	$163,430 ▲	3.3%	10,800	0.3%	Finance
CSCO Cisco Systems	$4,889,382	$137,662 ▲	2.9%	71,461	0.3%	Computer and Technology
VGT Vanguard Information Technology ETF	$4,799,572	$26,133 ▼	-0.5%	6,428	0.2%	ETF
VTI Vanguard Total Stock Market ETF	$4,586,832		0.0%	13,977	0.2%	ETF
IEMG iShares Core MSCI Emerging Markets ETF	$4,564,872	$38,629 ▼	-0.8%	69,249	0.2%	ETF
SHYG iShares 0-5 Year High Yield Corporate Bond ETF	$4,525,842	$254,560 ▲	6.0%	104,523	0.2%	ETF
UNH UnitedHealth Group	$4,445,000	$2,099,057 ▲	89.5%	12,873	0.2%	Medical
BLACKROCK INC	$4,307,987	$750,837 ▲	21.1%	3,695	0.2%	COM
AXP American Express	$4,300,476	$74,404 ▼	-1.7%	12,947	0.2%	Finance
FNCL Fidelity MSCI Financials Index ETF	$4,282,843	$176,880 ▲	4.3%	56,102	0.2%	ETF
FCOM Fidelity MSCI Communication Services Index ETF	$4,122,878	$38,537 ▼	-0.9%	58,093	0.2%	ETF
MS Morgan Stanley	$4,092,404	$695,446 ▲	20.5%	25,745	0.2%	Finance
IBM International Business Machines	$3,984,717	$18,341 ▲	0.5%	14,122	0.2%	Computer and Technology
MELI MercadoLibre	$3,963,450	$147,227 ▲	3.9%	1,696	0.2%	Retail/Wholesale
T AT&T	$3,962,994	$464,406 ▲	13.3%	140,333	0.2%	Computer and Technology
WFC Wells Fargo & Company	$3,679,198	$55,154 ▲	1.5%	43,894	0.2%	Finance
TXN Texas Instruments	$3,631,978	$138,716 ▲	4.0%	19,768	0.2%	Computer and Technology
QQQ Invesco QQQ	$3,613,763	$892,183 ▲	32.8%	6,019	0.2%	Finance
SBUX Starbucks	$3,512,127	$56,766 ▼	-1.6%	41,515	0.2%	Retail/Wholesale
MCD McDonald's	$3,485,402	$646,998 ▲	22.8%	11,469	0.2%	Retail/Wholesale
ENB Enbridge	$3,420,979	$71,199 ▲	2.1%	67,796	0.2%	Energy
VRT Vertiv	$3,402,676	$148,598 ▲	4.6%	22,555	0.2%	Computer and Technology
QCOM QUALCOMM	$3,398,203	$121,608 ▲	3.7%	20,427	0.2%	Computer and Technology
NOW ServiceNow	$3,303,805	$854,940 ▲	34.9%	3,590	0.2%	Computer and Technology
AEP American Electric Power	$3,277,204	$1,912 ▼	-0.1%	29,131	0.2%	Utilities
MRK Merck & Co., Inc.	$3,259,993	$9,722,487 ▼	-74.9%	38,842	0.2%	Medical
BKNG Booking	$3,235,523	$680,594 ▲	26.6%	599	0.2%	Retail/Wholesale
CRM Salesforce	$3,209,278	$939,723 ▲	41.4%	13,541	0.2%	Computer and Technology
SPY SPDR S&P 500 ETF Trust	$3,154,755	$99,918 ▼	-3.1%	4,736	0.2%	Finance
TSLA Tesla	$3,107,036	$672,465 ▲	27.6%	6,986	0.2%	Auto/Tires/Trucks
HBAN Huntington Bancshares	$3,084,874	$58,424 ▲	1.9%	178,626	0.2%	Finance
NFLX Netflix	$3,075,230	$424,418 ▲	16.0%	2,565	0.2%	Consumer Discretionary
VUG Vanguard Growth ETF	$3,071,496	$135,253 ▼	-4.2%	6,404	0.2%	ETF
AMGN Amgen	$3,035,212	$14,956 ▲	0.5%	10,756	0.2%	Medical
FHLC Fidelity MSCI Health Care Index ETF	$2,907,152	$46,942 ▼	-1.6%	43,475	0.1%	ETF
EMR Emerson Electric	$2,907,053	$260,259 ▼	-8.2%	22,161	0.1%	Industrials

Showing largest 100 holdings. View all holdings.

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Smith, Salley & Associates Top Holdings and 13F Report (2025)

About Smith, Salley & Associates

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

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Smith, Salley & Associates Top Holdings and 13F Report (2025)

About Smith, Salley & Associates

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Map of 500 Largest Holdings ofSmith, Salley & Associates

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools