Smith Salley Wealth Management

GREENSBORO, NC · CIK 1482012 · 13F filing filed 2023-08-04

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

$1.4bn reported value +7.8% vs Q1 2023

226positions

31.3%in top 10

11 new 113 added 81 reduced 11 sold out vs Q1 2023

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, Q2 2023

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	256,807	$87.5m6.45%	6.45%	Added +1.3k	+1,291 0.5%
2	APPLE INC COM AAPL	AAPL	434,788	$84.3m6.22%	6.22%	Added +7.1k	+7,135 1.7%
3	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	112,942	$38.5m2.84%	2.84%	Added +1.5k	+1,499 1.4%
4	AMAZON COM INC COM AMZN	AMZN	260,155	$33.9m2.50%	2.50%	Added +700	+700 0.3%
5	ALPHABET INC CAP STK CL C GOOG	GOOG	275,548	$33.3m2.46%	2.46%	Reduced -2.6k	-2,617 -0.9%
6	LOWES COS INC COM LOW	LOW	139,140	$31.4m2.32%	2.32%	Added +12.8k	+12,768 10.1%
7	JPMORGAN CHASE & CO COM JPM	JPM	214,882	$31.3m2.31%	2.31%	Added +875	+875 0.4%
8	NVIDIA CORPORATION COM NVDA	NVDA	68,409	$28.9m2.13%	2.13%	Reduced -1.1k	-1,098 -1.6%
9	VISA INC COM CL A V	V	120,728	$28.7m2.12%	2.12%	Added +754	+754 0.6%
10	TJX COS INC NEW COM TJX	TJX	319,837	$27.1m2.00%	2.00%	Added +1.2k	+1,206 0.4%
11	ABBVIE INC COM ABBV	ABBV	200,798	$27.1m2.00%	2.00%	Added +949	+949 0.5%
12	PROCTER AND GAMBLE CO COM PG	PG	173,098	$26.3m1.94%	1.94%	Added +1.2k	+1,162 0.7%
13	CHEVRON CORP NEW COM CVX	CVX	165,084	$26.0m1.92%	1.92%	Added +1.4k	+1,380 0.8%
14	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	47,778	$24.9m1.84%	1.84%	Added +658	+658 1.4%
15	META PLATFORMS INC CL A META	META	85,039	$24.4m1.80%	1.80%	Added +2.4k	+2,441 3.0%
16	PEPSICO INC COM PEP	PEP	125,154	$23.2m1.71%	1.71%	Added +840	+840 0.7%
17	AMETEK INC COM AME	AME	140,000	$22.7m1.67%	1.67%	Added +399	+399 0.3%
18	MERCK & CO INC COM MRK	MRK	191,923	$22.1m1.63%	1.63%	Added +1.1k	+1,102 0.6%
19	NXP SEMICONDUCTORS N V COM NXPI	NXPI	106,154	$21.7m1.60%	1.60%	Added +284	+284 0.3%
20	ANALOG DEVICES INC COM ADI	ADI	108,853	$21.2m1.56%	1.56%	Added +683	+683 0.6%
21	MASTERCARD INCORPORATED CL A MA	MA	53,572	$21.1m1.55%	1.55%	Reduced -315	-315 -0.6%
22	RTX CORPORATION COM RTX	RTX	213,967	$21.0m1.55%	1.55%	Added +891	+891 0.4%
23	DIAGEO PLC SPON ADR NEW DEO	DEO	120,295	$20.9m1.54%	1.54%	Added +300	+300 0.2%
24	ABBOTT LABS COM ABT	ABT	178,428	$19.5m1.44%	1.44%	Reduced -39	-39 -0.0%
25	ROPER TECHNOLOGIES INC COM ROP	ROP	38,945	$18.7m1.38%	1.38%	Added +24	+24 0.1%
26	LINDE PLC SHS LIN	LIN	47,799	$18.2m1.34%	1.34%	Added +69	+69 0.1%
27	CONSTELLATION BRANDS INC CL A STZ	STZ	72,827	$17.9m1.32%	1.32%	Added +677	+677 0.9%
28	S&P GLOBAL INC COM SPGI	SPGI	42,453	$17.0m1.26%	1.26%	Added +517	+517 1.2%
29	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	22,804	$16.5m1.22%	1.22%	Added +67	+67 0.3%
30	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	53,249	$16.4m1.21%	1.21%	Reduced -274	-274 -0.5%
31	BROOKFIELD CORP CL A LTD VT SH BN	BN	479,625	$16.1m1.19%	1.19%	Reduced -3.2k	-3,157 -0.7%
32	HONEYWELL INTL INC COM COM		77,458	$16.1m1.19%	1.19%	Added +11.1k	+11,126 16.8%
33	MEDTRONIC PLC SHS MDT	MDT	180,790	$15.9m1.18%	1.18%	Added +2.3k	+2,264 1.3%
34	UNION PAC CORP COM UNP	UNP	73,433	$15.0m1.11%	1.11%	Reduced -170	-170 -0.2%
35	MARKEL GROUP INC COM MKL	MKL	10,167	$14.1m1.04%	1.04%	Added +7	+7 0.1%
36	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	28,425	$12.6m0.93%	0.93%	Reduced -398	-398 -1.4%
37	BROADCOM INC COM AVGO	AVGO	14,217	$12.3m0.91%	0.91%	Reduced -1.1k	-1,096 -7.2%
38	INTEL CORP COM INTC	INTC	363,547	$12.2m0.90%	0.90%	Added +127.0k	+126,974 53.7%
39	NORTHROP GRUMMAN CORP COM NOC	NOC	26,007	$11.9m0.87%	0.87%	New
40	ISHARES TR CORE TOTAL USD IUSB	IUSB	241,898	$11.0m0.81%	0.81%	Added +12.1k	+12,135 5.3%
41	NEXTERA ENERGY INC COM NEE	NEE	144,698	$10.7m0.79%	0.79%	Added +2.9k	+2,857 2.0%
42	XYLEM INC COM XYL	XYL	92,734	$10.4m0.77%	0.77%	Reduced -528	-528 -0.6%
43	ELEVANCE HEALTH INC COM ELV	ELV	23,351	$10.4m0.77%	0.77%	New
44	JOHNSON & JOHNSON COM JNJ	JNJ	61,110	$10.1m0.75%	0.75%	Added +341	+341 0.6%
45	CHEMED CORP NEW COM CHE	CHE	18,397	$10.0m0.74%	0.74%	Added +95	+95 0.5%
46	PNC FINL SVCS GROUP INC COM PNC	PNC	69,111	$8.7m0.64%	0.64%	Reduced -1.2k	-1,232 -1.8%
47	TE CONNECTIVITY LTD SHS TEL1USD	TEL1USD	60,644	$8.5m0.63%	0.63%	Added +307	+307 0.5%
48	ISHARES TR 7-10 YR TRSY BD IEF	IEF	82,429	$8.0m0.59%	0.59%	Added +4.8k	+4,765 6.1%
49	ISHARES TR USD INV GRDE ETF USIG	USIG	156,967	$7.9m0.58%	0.58%	Added +8.8k	+8,826 6.0%
50	CISCO SYS INC COM CSCO	CSCO	151,240	$7.8m0.58%	0.58%	Reduced -3.1k	-3,097 -2.0%
51	HOME DEPOT INC COM HD	HD	23,896	$7.4m0.55%	0.55%	Added +4.2k	+4,247 21.6%
52	ISHARES TR CORE MSCI EAFE IEFA	IEFA	104,426	$7.0m0.52%	0.52%	Added +6.7k	+6,692 6.8%
53	DUKE ENERGY CORP NEW COM NEW DUK	DUK	78,529	$7.0m0.52%	0.52%	Reduced -1.6k	-1,579 -2.0%
54	FIDELITY COVINGTON TRUST MSCI INFO TECH I FTEC	FTEC	49,399	$6.5m0.48%	0.48%	Reduced -657	-657 -1.3%
55	EATON CORP PLC SHS ETN	ETN	32,075	$6.5m0.48%	0.48%	Added +412	+412 1.3%
56	AMERICAN NATL BANKSHARES INC COM AMNB	AMNB	206,608	$6.0m0.44%	0.44%	Reduced -21.1k	-21,128 -9.3%
57	ALPHABET INC CAP STK CL A GOOGL	GOOGL	49,865	$6.0m0.44%	0.44%	Added +1.3k	+1,292 2.7%
58	EXXON MOBIL CORP COM XOM	XOM	53,698	$5.8m0.42%	0.42%	Added +12.5k	+12,512 30.4%
59	ISHARES TR 3 7 YR TREAS BD IEI	IEI	49,269	$5.7m0.42%	0.42%	Added +5.0k	+4,955 11.2%
60	COCA COLA CO COM KO	KO	87,480	$5.3m0.39%	0.39%	Added +432	+432 0.5%
61	TEXAS INSTRS INC COM TXN	TXN	28,877	$5.2m0.38%	0.38%	Added +150	+150 0.5%
62	ISHARES TR MSCI EAFE ETF EFA	EFA	71,437	$5.2m0.38%	0.38%	Reduced -774	-774 -1.1%
63	QUALCOMM INC COM QCOM	QCOM	41,015	$4.9m0.36%	0.36%	Reduced -358	-358 -0.9%
64	BANK AMERICA CORP COM BAC	BAC	165,926	$4.8m0.35%	0.35%	Added +92.0k	+91,988 124.4%
65	ENBRIDGE INC COM ENB	ENB	115,790	$4.3m0.32%	0.32%	Reduced -29.4k	-29,422 -20.3%
66	STARBUCKS CORP COM SBUX	SBUX	42,778	$4.2m0.31%	0.31%	Added +576	+576 1.4%
67	AMGEN INC COM AMGN	AMGN	18,622	$4.1m0.31%	0.31%	Added +4.2k	+4,196 29.1%
68	GENERAL MLS INC COM GIS	GIS	52,986	$4.1m0.30%	0.30%	Reduced -924	-924 -1.7%
69	UNITED PARCEL SERVICE INC CL B UPS	UPS	22,262	$4.0m0.29%	0.29%	Added +5.5k	+5,451 32.4%
70	AIR PRODS & CHEMS INC COM APD	APD	13,061	$3.9m0.29%	0.29%	Reduced -66	-66 -0.5%
71	MONDELEZ INTL INC CL A MDLZ	MDLZ	49,415	$3.6m0.27%	0.27%	Added +330	+330 0.7%
72	INVESCO EXCH TRADED FD TR II TAXABLE MUN BD BAB	BAB	134,131	$3.6m0.26%	0.26%	Added +9.7k	+9,692 7.8%
73	FIRST BANCORP N C COM FBNC	FBNC	113,894	$3.4m0.25%	0.25%	Unchanged
74	LOCKHEED MARTIN CORP COM LMT	LMT	7,251	$3.3m0.25%	0.25%	Added +31	+31 0.4%
75	EMERSON ELEC CO COM EMR	EMR	36,471	$3.3m0.24%	0.24%	Reduced -405	-405 -1.1%
76	VANGUARD WORLD FD INF TECH ETF VGT	VGT	7,441	$3.3m0.24%	0.24%	Reduced -396	-396 -5.0%
77	PAYCHEX INC COM PAYX	PAYX	28,651	$3.2m0.24%	0.24%	Reduced -1.1k	-1,142 -3.8%
78	ISHARES INC CORE MSCI EMKT IEMG	IEMG	63,258	$3.1m0.23%	0.23%	Added +1.9k	+1,915 3.1%
79	FIDELITY COVINGTON TRUST MSCI HLTH CARE I FHLC	FHLC	47,416	$3.0m0.22%	0.22%	Added +9.8k	+9,848 26.2%
80	TARGET CORP COM TGT	TGT	22,464	$3.0m0.22%	0.22%	Reduced -1.0k	-1,013 -4.3%
81	ABB LTD SPONSORED ADR ABBNY	ABBNY	73,076	$2.9m0.21%	0.21%	Reduced -21.1k	-21,062 -22.4%
82	BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS BAM	BAM	83,105	$2.7m0.20%	0.20%	Added +2.9k	+2,874 3.6%
83	NIKE INC CL B NKE	NKE	24,222	$2.7m0.20%	0.20%	Reduced -72	-72 -0.3%
84	AMERICAN ELEC PWR CO INC COM AEP	AEP	31,204	$2.6m0.19%	0.19%	Added +21	+21 0.1%
85	HUNTINGTON BANCSHARES INC COM HBAN	HBAN	239,745	$2.6m0.19%	0.19%	Reduced -87.9k	-87,898 -26.8%
86	AT&T INC COM T	T	159,469	$2.5m0.19%	0.19%	Reduced -1.3k	-1,315 -0.8%
87	ARISTA NETWORKS INC COM COM		15,654	$2.5m0.19%	0.19%	Added +190	+190 1.2%
88	BROOKFIELD RENEWABLE CORP CL A SUB VTG CL A SUB VTG		77,826	$2.5m0.18%	0.18%	Reduced -358	-358 -0.5%
89	CATERPILLAR INC COM CAT	CAT	9,861	$2.4m0.18%	0.18%	Added +1.1k	+1,055 12.0%
90	ADOBE INC COM ADBE	ADBE	4,866	$2.4m0.18%	0.18%	Added +561	+561 13.0%
91	MOODYS CORP COM MCO	MCO	6,705	$2.3m0.17%	0.17%	Added +73	+73 1.1%
92	VANGUARD SPECIALIZED FUNDS DIV APP ETF VIG	VIG	13,847	$2.2m0.17%	0.17%	Reduced -578	-578 -4.0%
93	AMERICAN EXPRESS CO COM AXP	AXP	12,897	$2.2m0.17%	0.17%	Added +429	+429 3.4%
94	CHUBB LIMITED COM CB	CB	11,423	$2.2m0.16%	0.16%	Reduced -17	-17 -0.1%
95	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	9,961	$2.2m0.16%	0.16%	Reduced -583	-583 -5.5%
96	COSTCO WHSL CORP NEW COM COST	COST	4,046	$2.2m0.16%	0.16%	Reduced -59	-59 -1.4%
97	CME GROUP INC COM CME	CME	11,618	$2.2m0.16%	0.16%	Added +287	+287 2.5%
98	DOMINION ENERGY INC COM D	D	40,740	$2.1m0.16%	0.16%	Reduced -3.2k	-3,187 -7.3%
99	VERIZON COMMUNICATIONS INC COM VZ	VZ	55,786	$2.1m0.15%	0.15%	Reduced -284	-284 -0.5%
100	FIDELITY COVINGTON TRUST MSCI COMMNTN SVC FCOM	FCOM	51,104	$2.1m0.15%	0.15%	Added +3.4k	+3,359 7.0%

Sold out since Q1 2023

Security	Ticker	Shares held before	Value then
US BANCORP DEL USB	USB	70,374	$2.5m70.4k shares
CROWN CASTLE INC CCI	CCI	14,744	$2.0m14.7k shares
AMCOR PLC AMCR	AMCR	168,203	$1.9m168.2k shares
J P MORGAN EXCHANGE TRADED F JPST	JPST	18,783	$945.0k18.8k shares
ISHARES TR ICSH	ICSH	9,984	$501.7k10.0k shares
ISHARES TR LQD	LQD	3,965	$434.6k4.0k shares
ELANCO ANIMAL HEALTH INC ELAN	ELAN	29,374	$276.1k29.4k shares
ILLUMINA INC ILMN	ILMN	1,153	$268.1k1.2k shares
ISHARES TR IGSB	IGSB	4,027	$203.5k4.0k shares
DARDEN RESTAURANTS INC DRI	DRI	1,293	$200.6k1.3k shares
VODAFONE GROUP PLC NEW VOD	VOD	16,756	$185.0k16.8k shares