Smith Salley Wealth Management

GREENSBORO, NC · CIK 1482012 · 13F filing filed 2023-02-03

SEC-registered investment adviser since 2003 · limited liability company

Assets managed$2.9bn
Staff18 · 15 in investment roles
Main clients (by assets)High net worth individuals 86%, Individuals 6%, Companies 6%
Websitesmith-salley.com
Form ADV · 2026-09-09SEC adviser record

$1.2bn reported value +8.8% vs Q3 2022

223positions

28.8%in top 10

16 new 77 added 101 reduced 8 sold out vs Q3 2022

This report includes the holdings of 1 other manager that shares the investment decisions:

AMERICAN NATIONAL BANK & TRUST CO /VA/ – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q4 2022

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	MICROSOFT CORP COM MSFT	MSFT	253,395	$60.8m5.20%	5.20%	Added +597	+597 0.2%
2	APPLE INC COM AAPL	AAPL	420,574	$54.6m4.67%	4.67%	Added +624	+624 0.1%
3	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	109,606	$33.9m2.90%	2.90%	Added +789	+789 0.7%
4	ABBVIE INC COM ABBV	ABBV	194,704	$31.5m2.69%	2.69%	Added +889	+889 0.5%
5	CHEVRON CORP NEW COM CVX	CVX	159,001	$28.5m2.44%	2.44%	Added +2.3k	+2,337 1.5%
6	JPMORGAN CHASE & CO COM JPM	JPM	207,886	$27.9m2.38%	2.38%	Added +494	+494 0.2%
7	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	45,934	$25.3m2.16%	2.16%	Added +216	+216 0.5%
8	PROCTER AND GAMBLE CO COM PG	PG	166,842	$25.3m2.16%	2.16%	Reduced -607	-607 -0.4%
9	TJX COS INC NEW COM TJX	TJX	310,083	$24.7m2.11%	2.11%	Added +689	+689 0.2%
10	VISA INC COM CL A V	V	118,314	$24.6m2.10%	2.10%	Reduced -295	-295 -0.2%
11	LOWES COS INC COM LOW	LOW	121,203	$24.1m2.07%	2.07%	Added +524	+524 0.4%
12	ALPHABET INC CAP STK CL C GOOG	GOOG	265,797	$23.6m2.02%	2.02%	Reduced -1.1k	-1,076 -0.4%
13	RTX CORPORATION COM RTX	RTX	209,523	$21.1m1.81%	1.81%	Added +418	+418 0.2%
14	AMAZON COM INC COM AMZN	AMZN	251,139	$21.1m1.80%	1.80%	Reduced -4.0k	-4,042 -1.6%
15	DIAGEO PLC SPON ADR NEW DEO	DEO	117,073	$20.9m1.78%	1.78%	Added +174	+174 0.1%
16	MERCK & CO INC COM MRK	MRK	187,348	$20.8m1.78%	1.78%	Added +9.5k	+9,537 5.4%
17	PEPSICO INC COM PEP	PEP	109,884	$19.9m1.70%	1.70%	Added +207	+207 0.2%
18	ABBOTT LABS COM ABT	ABT	174,158	$19.1m1.64%	1.64%	Reduced -308	-308 -0.2%
19	AMETEK INC COM AME	AME	136,765	$19.1m1.63%	1.63%	Added +545	+545 0.4%
20	MASTERCARD INCORPORATED CL A MA	MA	53,137	$18.5m1.58%	1.58%	Added +211	+211 0.4%
21	ANALOG DEVICES INC COM ADI	ADI	105,699	$17.3m1.48%	1.48%	Reduced -495	-495 -0.5%
22	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	43,806	$16.8m1.43%	1.43%	Added +15.9k	+15,899 57.0%
23	NXP SEMICONDUCTORS N V COM NXPI	NXPI	104,147	$16.5m1.41%	1.41%	Reduced -444	-444 -0.4%
24	ROPER TECHNOLOGIES INC COM ROP	ROP	37,964	$16.4m1.40%	1.40%	Reduced -26	-26 -0.1%
25	CONSTELLATION BRANDS INC CL A STZ	STZ	70,758	$16.4m1.40%	1.40%	Reduced -107	-107 -0.1%
26	LINDE PLC SHS 99952EUR	99952EUR	47,024	$15.3m1.31%	1.31%	Added +86	+86 0.2%
27	UNION PAC CORP COM UNP	UNP	71,975	$14.9m1.27%	1.27%	Added +38	+38 0.1%
28	BROOKFIELD CORP CL A LTD VT SH BN	BN	469,807	$14.8m1.26%	1.26%	New
29	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	52,969	$14.1m1.21%	1.21%	Added +210	+210 0.4%
30	HONEYWELL INTL INC COM COM		64,789	$13.9m1.19%	1.19%	Added +452	+452 0.7%
31	LABORATORY CORP AMER HLDGS COM NEW COM NEW		57,505	$13.5m1.16%	1.16%	Reduced -124	-124 -0.2%
32	S&P GLOBAL INC COM SPGI	SPGI	40,382	$13.5m1.16%	1.16%	Reduced -411	-411 -1.0%
33	MARKEL GROUP INC COM MKL	MKL	9,916	$13.1m1.12%	1.12%	Added +65	+65 0.7%
34	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	21,527	$11.8m1.01%	1.01%	Added +19.6k	+19,627 1033.0%
35	PNC FINL SVCS GROUP INC COM PNC	PNC	69,284	$10.9m0.94%	0.94%	Reduced -240	-240 -0.3%
36	MEDTRONIC PLC SHS MDT	MDT	135,743	$10.5m0.90%	0.90%	Reduced -53.4k	-53,385 -28.2%
37	JOHNSON & JOHNSON COM JNJ	JNJ	59,687	$10.5m0.90%	0.90%	Added +9.3k	+9,333 18.5%
38	DOMINION ENERGY INC COM D	D	168,868	$10.4m0.89%	0.89%	Reduced -60.3k	-60,347 -26.3%
39	XYLEM INC COM XYL	XYL	91,575	$10.1m0.87%	0.87%	Added +873	+873 1.0%
40	ISHARES TR CORE TOTAL USD IUSB	IUSB	218,991	$9.8m0.84%	0.84%	Added +7.3k	+7,346 3.5%
41	DISNEY WALT CO COM DIS	DIS	109,458	$9.5m0.81%	0.81%	Reduced -8.5k	-8,503 -7.2%
42	NVIDIA CORPORATION COM NVDA	NVDA	63,707	$9.3m0.80%	0.80%	Reduced -2.6k	-2,608 -3.9%
43	ISHARES TR 7-10 YR TRSY BD IEF	IEF	96,078	$9.2m0.79%	0.79%	Added +46.8k	+46,803 95.0%
44	META PLATFORMS INC CL A META	META	75,860	$9.1m0.78%	0.78%	Added +36.5k	+36,488 92.7%
45	CHEMED CORP NEW COM CHE	CHE	17,720	$9.0m0.77%	0.77%	Reduced -209	-209 -1.2%
46	ISHARES TR USD INV GRDE ETF USIG	USIG	181,660	$8.9m0.76%	0.76%	Added +39.5k	+39,477 27.8%
47	AMERICAN NATL BANKSHARES INC COM AMNB	AMNB	241,518	$8.9m0.76%	0.76%	Added +1.0k	+1,006 0.4%
48	BROADCOM INC COM AVGO	AVGO	15,075	$8.4m0.72%	0.72%	Added +102	+102 0.7%
49	DUKE ENERGY CORP NEW COM NEW DUK	DUK	78,864	$8.1m0.69%	0.69%	Added +203	+203 0.3%
50	CISCO SYS INC COM CSCO	CSCO	156,206	$7.4m0.64%	0.64%	Reduced -252.6k	-252,563 -61.8%
51	ISHARES TR CORE MSCI EAFE IEFA	IEFA	114,927	$7.1m0.61%	0.61%	Added +1.1k	+1,054 0.9%
52	TE CONNECTIVITY LTD SHS TEL1USD	TEL1USD	58,160	$6.7m0.57%	0.57%	Reduced -2.9k	-2,941 -4.8%
53	HOME DEPOT INC COM HD	HD	19,337	$6.1m0.52%	0.52%	Added +78	+78 0.4%
54	INTEL CORP COM INTC	INTC	226,881	$6.0m0.51%	0.51%	Reduced -568	-568 -0.2%
55	ENBRIDGE INC COM ENB	ENB	142,838	$5.6m0.48%	0.48%	Added +3.1k	+3,126 2.2%
56	COCA COLA CO COM KO	KO	84,718	$5.4m0.46%	0.46%	Added +16.0k	+15,982 23.2%
57	VANGUARD WHITEHALL FDS HIGH DIV YLD VYM	VYM	49,027	$5.3m0.45%	0.45%	Added +34.1k	+34,117 228.8%
58	FIDELITY COVINGTON TRUST MSCI INFO TECH I FTEC	FTEC	53,412	$5.0m0.43%	0.43%	Added +2	+2 0.0%
59	EATON CORP PLC SHS ETN	ETN	31,125	$4.9m0.42%	0.42%	Added +80	+80 0.3%
60	FIRST BANCORP N C COM FBNC	FBNC	113,894	$4.9m0.42%	0.42%	Unchanged
61	ISHARES TR MSCI EAFE ETF EFA	EFA	72,280	$4.7m0.41%	0.41%	Added +4.7k	+4,670 6.9%
62	TEXAS INSTRS INC COM TXN	TXN	28,143	$4.6m0.40%	0.40%	Added +23	+23 0.1%
63	HUNTINGTON BANCSHARES INC COM HBAN	HBAN	319,631	$4.5m0.39%	0.39%	Added +3.1k	+3,058 1.0%
64	QUALCOMM INC COM QCOM	QCOM	40,415	$4.4m0.38%	0.38%	Added +247	+247 0.6%
65	ALPHABET INC CAP STK CL A GOOGL	GOOGL	50,059	$4.4m0.38%	0.38%	Added +1.9k	+1,924 4.0%
66	GENERAL MLS INC COM GIS	GIS	52,648	$4.4m0.38%	0.38%	Added +192	+192 0.4%
67	TRUIST FINL CORP COM TFC	TFC	100,740	$4.3m0.37%	0.37%	Reduced -18.3k	-18,329 -15.4%
68	ISHARES TR BLACKROCK ULTRA ICSH	ICSH	84,088	$4.2m0.36%	0.36%	Reduced -36.6k	-36,586 -30.3%
69	STARBUCKS CORP COM SBUX	SBUX	41,258	$4.1m0.35%	0.35%	Added +326	+326 0.8%
70	AIR PRODS & CHEMS INC COM APD	APD	12,704	$3.9m0.33%	0.33%	Reduced -3	-3 -0.0%
71	AMGEN INC COM AMGN	AMGN	14,219	$3.7m0.32%	0.32%	Reduced -3.2k	-3,207 -18.4%
72	J P MORGAN EXCHANGE TRADED F ULTRA SHRT ETF JPST	JPST	73,498	$3.7m0.32%	0.32%	Reduced -61.8k	-61,829 -45.7%
73	EXXON MOBIL CORP COM XOM	XOM	32,691	$3.6m0.31%	0.31%	Added +14.6k	+14,573 80.4%
74	LOCKHEED MARTIN CORP COM LMT	LMT	7,161	$3.5m0.30%	0.30%	Added +37	+37 0.5%
75	ISHARES TR INTRM GOV CR ETF GVI	GVI	33,953	$3.5m0.30%	0.30%	Reduced -8.0k	-7,963 -19.0%
76	EMERSON ELEC CO COM EMR	EMR	36,067	$3.5m0.30%	0.30%	Reduced -84	-84 -0.2%
77	TARGET CORP COM TGT	TGT	22,703	$3.4m0.29%	0.29%	Reduced -399	-399 -1.7%
78	PAYCHEX INC COM PAYX	PAYX	29,026	$3.4m0.29%	0.29%	Added +74	+74 0.3%
79	MONDELEZ INTL INC CL A MDLZ	MDLZ	47,923	$3.2m0.27%	0.27%	Added +798	+798 1.7%
80	DIGITAL RLTY TR INC COM DLR	DLR	29,576	$3.0m0.25%	0.25%	Reduced -1.3k	-1,262 -4.1%
81	UNITED PARCEL SERVICE INC CL B UPS	UPS	16,745	$2.9m0.25%	0.25%	Added +369	+369 2.2%
82	INVESCO EXCH TRADED FD TR II TAXABLE MUN BD BAB	BAB	113,079	$2.9m0.25%	0.25%	Added +8.7k	+8,667 8.3%
83	ABB LTD SPONSORED ADR ABBNY	ABBNY	93,002	$2.8m0.24%	0.24%	Reduced -161	-161 -0.2%
84	NIKE INC CL B NKE	NKE	23,775	$2.8m0.24%	0.24%	Added +23	+23 0.1%
85	VANGUARD WORLD FD INF TECH ETF VGT	VGT	8,025	$2.6m0.22%	0.22%	Reduced -306	-306 -3.7%
86	US BANCORP DEL COM NEW USB	USB	57,391	$2.5m0.21%	0.21%	Reduced -12.1k	-12,080 -17.4%
87	BANK AMERICA CORP COM BAC	BAC	73,159	$2.4m0.21%	0.21%	Added +1.5k	+1,511 2.1%
88	CHUBB LIMITED COM CB	CB	10,927	$2.4m0.21%	0.21%	Added +376	+376 3.6%
89	FIDELITY COVINGTON TRUST MSCI HLTH CARE I FHLC	FHLC	37,165	$2.4m0.20%	0.20%	Reduced -372	-372 -1.0%
90	AT&T INC COM T	T	129,083	$2.4m0.20%	0.20%	Reduced -26.0k	-25,971 -16.8%
91	VANGUARD SPECIALIZED FUNDS DIV APP ETF VIG	VIG	15,246	$2.3m0.20%	0.20%	Unchanged
92	BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS BAM	BAM	75,963	$2.2m0.19%	0.19%	New
93	CROWN CASTLE INC COM CCI	CCI	15,732	$2.1m0.18%	0.18%	Reduced -824	-824 -5.0%
94	FIDELITY COVINGTON TRUST MSCI FINLS IDX FNCL	FNCL	44,185	$2.1m0.18%	0.18%	Reduced -1.8k	-1,776 -3.9%
95	CATERPILLAR INC COM CAT	CAT	8,641	$2.1m0.18%	0.18%	Reduced -53	-53 -0.6%
96	BROOKFIELD RENEWABLE CORP CL A SUB VTG CL A SUB VTG		75,023	$2.1m0.18%	0.18%	Reduced -4.2k	-4,233 -5.3%
97	ISHARES INC CORE MSCI EMKT IEMG	IEMG	43,262	$2.0m0.17%	0.17%	Reduced -31	-31 -0.1%
98	AMCOR PLC ORD AMCR	AMCR	164,287	$2.0m0.17%	0.17%	Reduced -239	-239 -0.1%
99	ARISTA NETWORKS INC COM COM		16,095	$2.0m0.17%	0.17%	Reduced -93	-93 -0.6%
100	ISHARES TR CORE US AGGBD ET AGG	AGG	19,683	$1.9m0.16%	0.16%	Added +2.7k	+2,692 15.8%

Sold out since Q3 2022

Security	Ticker	Shares held before	Value then
BROOKFIELD ASSET MGMT INC		468,455	$19.2m468.5k shares
ALIBABA GROUP HLDG LTD BABA	BABA	62,391	$5.0m62.4k shares
ISHARES TR SHYG	SHYG	40,305	$1.6m40.3k shares
ISHARES TR IEI	IEI	4,971	$568.0k5.0k shares
INVESCO EXCHANGE TRADED FD T PRF	PRF	2,851	$396.0k2.9k shares
VANGUARD SCOTTSDALE FDS VMBS	VMBS	8,448	$381.0k8.4k shares
VANGUARD INTL EQUITY INDEX F VT	VT	2,601	$205.0k2.6k shares
MOBILE TELESYSTEMS PUB JT ST MBT	MBT	15,000	$015.0k shares