Smith Salley Wealth Management

GREENSBORO, NC · CIK 1482012 · 13F filing filed 2024-01-24

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

$1.5bn reported value +14.8% vs Q3 2023

242positions

31.9%in top 10

19 new 111 added 91 reduced 6 sold out vs Q3 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, Q4 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	272,160	$102.3m6.61%	6.61%	Added +7.2k	+7,179 2.7%
2	APPLE INC COM AAPL	AAPL	472,447	$91.0m5.88%	5.88%	Added +13.0k	+13,039 2.8%
3	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	120,294	$42.9m2.77%	2.77%	Added +3.7k	+3,673 3.1%
4	AMAZON COM INC COM AMZN	AMZN	280,728	$42.7m2.76%	2.76%	Added +10.4k	+10,394 3.8%
5	ALPHABET INC CAP STK CL C GOOG	GOOG	292,137	$41.2m2.66%	2.66%	Added +6.8k	+6,848 2.4%
6	JPMORGAN CHASE & CO COM JPM	JPM	222,242	$37.8m2.44%	2.44%	Added +1.1k	+1,114 0.5%
7	NVIDIA CORPORATION COM NVDA	NVDA	73,427	$36.4m2.35%	2.35%	Added +2.2k	+2,250 3.2%
8	VISA INC COM CL A V	V	130,727	$34.0m2.20%	2.20%	Added +4.4k	+4,435 3.5%
9	META PLATFORMS INC CL A META	META	92,937	$32.9m2.13%	2.13%	Added +3.4k	+3,437 3.8%
10	ABBVIE INC COM ABBV	ABBV	210,548	$32.6m2.11%	2.11%	Added +3.8k	+3,815 1.9%
11	LOWES COS INC COM LOW	LOW	135,337	$30.1m1.95%	1.95%	Added +4.8k	+4,820 3.7%
12	TJX COS INC NEW COM TJX	TJX	311,742	$29.2m1.89%	1.89%	Added +10.5k	+10,530 3.5%
13	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	50,837	$27.0m1.74%	1.74%	Added +1.8k	+1,774 3.6%
14	PROCTER AND GAMBLE CO COM PG	PG	182,404	$26.7m1.73%	1.73%	Added +3.8k	+3,848 2.2%
15	NXP SEMICONDUCTORS N V COM NXPI	NXPI	113,037	$26.0m1.68%	1.68%	Added +3.1k	+3,123 2.8%
16	CHEVRON CORP NEW COM CVX	CVX	173,016	$25.8m1.67%	1.67%	Added +1.6k	+1,649 1.0%
17	AMETEK INC COM AME	AME	151,867	$25.0m1.62%	1.62%	Added +5.5k	+5,513 3.8%
18	MASTERCARD INCORPORATED CL A MA	MA	57,608	$24.6m1.59%	1.59%	Added +1.7k	+1,710 3.1%
19	PEPSICO INC COM PEP	PEP	139,028	$23.6m1.53%	1.53%	Added +5.8k	+5,821 4.4%
20	ANALOG DEVICES INC COM ADI	ADI	118,067	$23.4m1.51%	1.51%	Added +4.4k	+4,382 3.9%
21	ROPER TECHNOLOGIES INC COM ROP	ROP	41,885	$22.8m1.48%	1.48%	Added +1.3k	+1,294 3.2%
22	MERCK & CO INC COM MRK	MRK	207,975	$22.7m1.47%	1.47%	Added +3.5k	+3,480 1.7%
23	LINDE PLC SHS LIN	LIN	52,157	$21.4m1.38%	1.38%	Added +1.9k	+1,858 3.7%
24	ABBOTT LABS COM ABT	ABT	190,330	$20.9m1.35%	1.35%	Added +6.1k	+6,066 3.3%
25	BROOKFIELD CORP CL A LTD VT SH BN	BN	521,220	$20.9m1.35%	1.35%	Added +12.2k	+12,190 2.4%
26	INTEL CORP COM INTC	INTC	400,562	$20.1m1.30%	1.30%	Added +19.2k	+19,199 5.0%
27	S&P GLOBAL INC COM SPGI	SPGI	45,502	$20.0m1.30%	1.30%	Added +1.3k	+1,324 3.0%
28	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	56,962	$20.0m1.29%	1.29%	Added +1.8k	+1,805 3.3%
29	UNION PAC CORP COM UNP	UNP	79,196	$19.5m1.26%	1.26%	Added +2.6k	+2,588 3.4%
30	RTX CORPORATION COM RTX	RTX	228,381	$19.2m1.24%	1.24%	Added +5.4k	+5,423 2.4%
31	CONSTELLATION BRANDS INC CL A STZ	STZ	78,475	$19.0m1.23%	1.23%	Added +2.6k	+2,575 3.4%
32	NEXTERA ENERGY INC COM NEE	NEE	311,709	$18.9m1.22%	1.22%	Added +59.1k	+59,120 23.4%
33	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	24,349	$18.4m1.19%	1.19%	Added +762	+762 3.2%
34	DIAGEO PLC SPON ADR NEW DEO	DEO	125,333	$18.3m1.18%	1.18%	Added +559	+559 0.5%
35	HONEYWELL INTL INC COM COM		84,795	$17.8m1.15%	1.15%	Added +1.4k	+1,430 1.7%
36	MEDTRONIC PLC SHS MDT	MDT	189,487	$15.6m1.01%	1.01%	Added +2.2k	+2,211 1.2%
37	ELEVANCE HEALTH INC COM ELV	ELV	31,987	$15.1m0.97%	0.97%	Added +1.6k	+1,556 5.1%
38	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	31,156	$14.8m0.96%	0.96%	Added +1.7k	+1,745 5.9%
39	BROADCOM INC COM AVGO	AVGO	12,980	$14.5m0.94%	0.94%	Reduced -1.2k	-1,174 -8.3%
40	NORTHROP GRUMMAN CORP COM NOC	NOC	28,397	$13.3m0.86%	0.86%	Added +1.1k	+1,068 3.9%
41	ISHARES TR CORE TOTAL USD IUSB	IUSB	253,496	$11.7m0.75%	0.75%	Added +6.1k	+6,092 2.5%
42	CHEMED CORP NEW COM CHE	CHE	19,838	$11.6m0.75%	0.75%	Added +681	+681 3.5%
43	PNC FINL SVCS GROUP INC COM PNC	PNC	73,850	$11.4m0.74%	0.74%	Added +2.1k	+2,078 2.9%
44	XYLEM INC COM XYL	XYL	99,693	$11.4m0.74%	0.74%	Added +3.8k	+3,809 4.0%
45	DOLLAR GEN CORP NEW COM DG	DG	82,977	$11.3m0.73%	0.73%	Added +6.0k	+6,047 7.9%
46	MARKEL GROUP INC COM MKL	MKL	7,751	$11.0m0.71%	0.71%	Added +310	+310 4.2%
47	ISHARES TR 1 3 YR TREAS BD SHY	SHY	126,497	$10.4m0.67%	0.67%	Added +100.5k	+100,524 387.0%
48	JOHNSON & JOHNSON COM JNJ	JNJ	58,979	$9.2m0.60%	0.60%	Reduced -1.9k	-1,934 -3.2%
49	TE CONNECTIVITY LTD SHS TEL1USD	TEL1USD	64,757	$9.1m0.59%	0.59%	Added +1.5k	+1,488 2.4%
50	ISHARES TR 7-10 YR TRSY BD IEF	IEF	86,043	$8.3m0.54%	0.54%	Added +1.3k	+1,323 1.6%
51	HOME DEPOT INC COM HD	HD	22,248	$7.7m0.50%	0.50%	Reduced -472	-472 -2.1%
52	ALPHABET INC CAP STK CL A GOOGL	GOOGL	55,176	$7.7m0.50%	0.50%	Added +2.0k	+2,010 3.8%
53	ISHARES TR CORE MSCI EAFE IEFA	IEFA	105,608	$7.4m0.48%	0.48%	Reduced -475	-475 -0.5%
54	CISCO SYS INC COM CSCO	CSCO	142,100	$7.2m0.46%	0.46%	Reduced -8.5k	-8,457 -5.6%
55	FIDELITY COVINGTON TRUST MSCI INFO TECH I FTEC	FTEC	48,890	$7.0m0.45%	0.45%	Reduced -301	-301 -0.6%
56	EATON CORP PLC SHS ETN	ETN	25,756	$6.2m0.40%	0.40%	Reduced -455	-455 -1.7%
57	ISHARES TR 3 7 YR TREAS BD IEI	IEI	52,471	$6.1m0.40%	0.40%	Added +1.1k	+1,098 2.1%
58	AMERICAN NATL BANKSHARES INC COM AMNB	AMNB	124,702	$6.1m0.39%	0.39%	Unchanged
59	DUKE ENERGY CORP NEW COM NEW DUK	DUK	61,653	$6.0m0.39%	0.39%	Reduced -5.2k	-5,236 -7.8%
60	QUALCOMM INC COM QCOM	QCOM	39,753	$5.7m0.37%	0.37%	Reduced -1.1k	-1,063 -2.6%
61	ISHARES TR MSCI EAFE ETF EFA	EFA	71,706	$5.4m0.35%	0.35%	Reduced -185	-185 -0.3%
62	AMGEN INC COM AMGN	AMGN	18,080	$5.2m0.34%	0.34%	Reduced -480	-480 -2.6%
63	EXXON MOBIL CORP COM XOM	XOM	50,421	$5.0m0.33%	0.33%	Reduced -1.0k	-1,025 -2.0%
64	COCA COLA CO COM KO	KO	85,489	$5.0m0.33%	0.33%	Reduced -1.4k	-1,369 -1.6%
65	BANK AMERICA CORP COM BAC	BAC	145,115	$4.9m0.32%	0.32%	Reduced -16.8k	-16,802 -10.4%
66	TEXAS INSTRS INC COM TXN	TXN	27,999	$4.8m0.31%	0.31%	Reduced -115	-115 -0.4%
67	FIRST BANCORP N C COM FBNC	FBNC	113,742	$4.2m0.27%	0.27%	Reduced -152	-152 -0.1%
68	STARBUCKS CORP COM SBUX	SBUX	43,642	$4.2m0.27%	0.27%	Added +429	+429 1.0%
69	WALMART INC COM WMT	WMT	24,544	$3.9m0.25%	0.25%	Added +9.9k	+9,930 68.0%
70	ENBRIDGE INC COM ENB	ENB	106,607	$3.8m0.25%	0.25%	Reduced -7.1k	-7,142 -6.3%
71	INVESCO EXCH TRADED FD TR II TAXABLE MUN BD BAB	BAB	141,908	$3.8m0.25%	0.25%	Added +3.6k	+3,631 2.6%
72	BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS BAM	BAM	92,958	$3.7m0.24%	0.24%	Added +5.1k	+5,081 5.8%
73	VANGUARD WORLD FD INF TECH ETF VGT	VGT	7,207	$3.5m0.23%	0.23%	Reduced -77	-77 -1.1%
74	MONDELEZ INTL INC CL A MDLZ	MDLZ	47,562	$3.4m0.22%	0.22%	Reduced -1.5k	-1,505 -3.1%
75	EMERSON ELEC CO COM EMR	EMR	35,312	$3.4m0.22%	0.22%	Reduced -1.1k	-1,130 -3.1%
76	AIR PRODS & CHEMS INC COM APD	APD	12,465	$3.4m0.22%	0.22%	Reduced -530	-530 -4.1%
77	ARISTA NETWORKS INC COM COM		14,476	$3.4m0.22%	0.22%	Added +549	+549 3.9%
78	UNITED PARCEL SERVICE INC CL B UPS	UPS	21,594	$3.4m0.22%	0.22%	Reduced -493	-493 -2.2%
79	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	14,307	$3.4m0.22%	0.22%	Added +508	+508 3.7%
80	ISHARES INC CORE MSCI EMKT IEMG	IEMG	63,426	$3.2m0.21%	0.21%	Added +4.2k	+4,188 7.1%
81	ADOBE INC COM ADBE	ADBE	5,341	$3.2m0.21%	0.21%	Added +224	+224 4.4%
82	VULCAN MATLS CO COM VMC	VMC	14,030	$3.2m0.21%	0.21%	New
83	LOCKHEED MARTIN CORP COM LMT	LMT	7,015	$3.2m0.21%	0.21%	Reduced -228	-228 -3.1%
84	MCDONALDS CORP COM MCD	MCD	10,669	$3.2m0.20%	0.20%	Added +60	+60 0.6%
85	FIDELITY COVINGTON TRUST MSCI HLTH CARE I FHLC	FHLC	47,144	$3.0m0.20%	0.20%	Added +2.9k	+2,926 6.6%
86	WELLS FARGO CO NEW COM WFC	WFC	60,470	$3.0m0.19%	0.19%	Added +15.0k	+14,979 32.9%
87	HUNTINGTON BANCSHARES INC COM HBAN	HBAN	231,623	$2.9m0.19%	0.19%	Reduced -6.2k	-6,223 -2.6%
88	MOODYS CORP COM MCO	MCO	7,389	$2.9m0.19%	0.19%	Added +314	+314 4.4%
89	NIKE INC CL B NKE	NKE	25,719	$2.8m0.18%	0.18%	Added +1.0k	+1,049 4.2%
90	PAYCHEX INC COM PAYX	PAYX	23,026	$2.7m0.18%	0.18%	Reduced -90	-90 -0.4%
91	COSTCO WHSL CORP NEW COM COST	COST	4,000	$2.6m0.17%	0.17%	Reduced -341	-341 -7.9%
92	FIDELITY COVINGTON TRUST MSCI COMMNTN SVC FCOM	FCOM	59,035	$2.6m0.17%	0.17%	Added +63	+63 0.1%
93	AT&T INC COM T	T	154,230	$2.6m0.17%	0.17%	Reduced -2.6k	-2,566 -1.6%
94	GENERAL MLS INC COM GIS	GIS	39,486	$2.6m0.17%	0.17%	Reduced -953	-953 -2.4%
95	CATERPILLAR INC COM CAT	CAT	8,672	$2.6m0.17%	0.17%	Reduced -1.1k	-1,084 -11.1%
96	CHUBB LIMITED COM CB	CB	10,937	$2.5m0.16%	0.16%	Reduced -343	-343 -3.0%
97	AMERICAN EXPRESS CO COM AXP	AXP	13,094	$2.5m0.16%	0.16%	Added +300	+300 2.3%
98	NORFOLK SOUTHN CORP COM NSC	NSC	10,168	$2.4m0.16%	0.16%	Added +7.2k	+7,233 246.4%
99	US BANCORP DEL COM NEW USB	USB	54,723	$2.4m0.15%	0.15%	New
100	AMERICAN ELEC PWR CO INC COM AEP	AEP	28,764	$2.3m0.15%	0.15%	Reduced -1.9k	-1,852 -6.0%

Sold out since Q3 2023

Security	Ticker	Shares held before	Value then
ISHARES TR USIG	USIG	160,016	$7.7m160.0k shares
CITIGROUP INC C	C	37,345	$1.5m37.3k shares
YUM CHINA HLDGS INC YUMC	YUMC	4,329	$241.2k4.3k shares
CHENIERE ENERGY INC LNG	LNG	1,270	$210.8k1.3k shares
F N B CORP FNB	FNB	12,366	$133.4k12.4k shares
NEXIMMUNE INC		10,000	$2.1k10.0k shares