Smith Salley Wealth Management

GREENSBORO, NC · CIK 1482012 · 13F filing filed 2024-05-02

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

$1.3bn reported value -16.7% vs Q4 2023

222positions

33.2%in top 10

15 new 49 added 143 reduced 35 sold out vs Q4 2023

Holdings, Q1 2024

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	196,883	$82.8m6.43%	6.43%	Reduced -75.3k	-75,277 -27.7%
2	APPLE INC COM AAPL	AAPL	337,276	$57.8m4.49%	4.49%	Reduced -135.2k	-135,171 -28.6%
3	NVIDIA CORPORATION COM NVDA	NVDA	57,498	$52.0m4.03%	4.03%	Reduced -15.9k	-15,929 -21.7%
4	AMAZON COM INC COM AMZN	AMZN	220,948	$39.9m3.09%	3.09%	Reduced -59.8k	-59,780 -21.3%
5	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	90,589	$38.1m2.96%	2.96%	Reduced -29.7k	-29,705 -24.7%
6	JPMORGAN CHASE & CO COM JPM	JPM	174,704	$35.0m2.72%	2.72%	Reduced -47.5k	-47,538 -21.4%
7	META PLATFORMS INC CL A META	META	70,033	$34.0m2.64%	2.64%	Reduced -22.9k	-22,904 -24.6%
8	ALPHABET INC CAP STK CL C GOOG	GOOG	211,689	$32.2m2.50%	2.50%	Reduced -80.4k	-80,448 -27.5%
9	ABBVIE INC COM ABBV	ABBV	157,004	$28.6m2.22%	2.22%	Reduced -53.5k	-53,544 -25.4%
10	VISA INC COM CL A V	V	99,620	$27.8m2.16%	2.16%	Reduced -31.1k	-31,107 -23.8%
11	LOWES COS INC COM LOW	LOW	107,356	$27.3m2.12%	2.12%	Reduced -28.0k	-27,981 -20.7%
12	TJX COS INC NEW COM TJX	TJX	235,107	$23.8m1.85%	1.85%	Reduced -76.6k	-76,635 -24.6%
13	PROCTER AND GAMBLE CO COM PG	PG	141,054	$22.9m1.78%	1.78%	Reduced -41.4k	-41,350 -22.7%
14	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	39,343	$22.9m1.77%	1.77%	Reduced -11.5k	-11,494 -22.6%
15	NXP SEMICONDUCTORS N V COM NXPI	NXPI	88,492	$21.9m1.70%	1.70%	Reduced -24.5k	-24,545 -21.7%
16	AMETEK INC COM AME	AME	116,686	$21.3m1.66%	1.66%	Reduced -35.2k	-35,181 -23.2%
17	PEPSICO INC COM PEP	PEP	118,931	$20.8m1.62%	1.62%	Reduced -20.1k	-20,097 -14.5%
18	MASTERCARD INCORPORATED CL A MA	MA	43,220	$20.8m1.61%	1.61%	Reduced -14.4k	-14,388 -25.0%
19	MERCK & CO INC COM MRK	MRK	156,227	$20.6m1.60%	1.60%	Reduced -51.7k	-51,748 -24.9%
20	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	19,098	$18.5m1.44%	1.44%	Reduced -5.3k	-5,251 -21.6%
21	LINDE PLC SHS LIN	LIN	39,876	$18.5m1.44%	1.44%	Reduced -12.3k	-12,281 -23.6%
22	ANALOG DEVICES INC COM ADI	ADI	92,161	$18.2m1.41%	1.41%	Reduced -25.9k	-25,906 -21.9%
23	CHEVRON CORP NEW COM CVX	CVX	115,302	$18.2m1.41%	1.41%	Reduced -57.7k	-57,714 -33.4%
24	ROPER TECHNOLOGIES INC COM ROP	ROP	31,441	$17.6m1.37%	1.37%	Reduced -10.4k	-10,444 -24.9%
25	UNION PAC CORP COM UNP	UNP	70,688	$17.4m1.35%	1.35%	Reduced -8.5k	-8,508 -10.7%
26	NEXTERA ENERGY INC COM NEE	NEE	270,053	$17.3m1.34%	1.34%	Reduced -41.7k	-41,656 -13.4%
27	RTX CORPORATION COM RTX	RTX	174,697	$17.0m1.32%	1.32%	Reduced -53.7k	-53,684 -23.5%
28	ABBOTT LABS COM ABT	ABT	148,114	$16.8m1.31%	1.31%	Reduced -42.2k	-42,216 -22.2%
29	CONSTELLATION BRANDS INC CL A STZ	STZ	60,884	$16.5m1.28%	1.28%	Reduced -17.6k	-17,591 -22.4%
30	BROOKFIELD CORP CL A LTD VT SH BN	BN	393,532	$16.5m1.28%	1.28%	Reduced -127.7k	-127,688 -24.5%
31	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	44,223	$15.3m1.19%	1.19%	Reduced -12.7k	-12,739 -22.4%
32	ELEVANCE HEALTH INC COM ELV	ELV	28,511	$14.8m1.15%	1.15%	Reduced -3.5k	-3,476 -10.9%
33	DIAGEO PLC SPON ADR NEW DEO	DEO	97,930	$14.6m1.13%	1.13%	Reduced -27.4k	-27,403 -21.9%
34	S&P GLOBAL INC COM SPGI	SPGI	34,011	$14.5m1.12%	1.12%	Reduced -11.5k	-11,491 -25.2%
35	MEDTRONIC PLC SHS MDT	MDT	153,686	$13.4m1.04%	1.04%	Reduced -35.8k	-35,801 -18.9%
36	INTEL CORP COM INTC	INTC	302,860	$13.4m1.04%	1.04%	Reduced -97.7k	-97,702 -24.4%
37	HONEYWELL INTL INC COM COM		63,068	$12.9m1.00%	1.00%	Reduced -21.7k	-21,727 -25.6%
38	MARKEL GROUP INC COM MKL	MKL	8,314	$12.6m0.98%	0.98%	Added +563	+563 7.3%
39	NORTHROP GRUMMAN CORP COM NOC	NOC	22,058	$10.6m0.82%	0.82%	Reduced -6.3k	-6,339 -22.3%
40	ISHARES TR CORE TOTAL USD IUSB	IUSB	225,244	$10.3m0.80%	0.80%	Reduced -28.3k	-28,252 -11.1%
41	DOLLAR GEN CORP NEW COM DG	DG	62,692	$9.8m0.76%	0.76%	Reduced -20.3k	-20,285 -24.4%
42	CHEMED CORP NEW COM CHE	CHE	15,216	$9.8m0.76%	0.76%	Reduced -4.6k	-4,622 -23.3%
43	XYLEM INC COM XYL	XYL	74,293	$9.6m0.75%	0.75%	Reduced -25.4k	-25,400 -25.5%
44	BROADCOM INC COM AVGO	AVGO	7,171	$9.5m0.74%	0.74%	Reduced -5.8k	-5,809 -44.8%
45	PNC FINL SVCS GROUP INC COM PNC	PNC	57,998	$9.4m0.73%	0.73%	Reduced -15.9k	-15,852 -21.5%
46	ALPHABET INC CAP STK CL A GOOGL	GOOGL	58,087	$8.8m0.68%	0.68%	Added +2.9k	+2,911 5.3%
47	CASEYS GEN STORES INC COM CASY	CASY	25,800	$8.2m0.64%	0.64%	New
48	ISHARES TR CORE MSCI EAFE IEFA	IEFA	105,418	$7.8m0.61%	0.61%	Reduced -190	-190 -0.2%
49	ISHARES TR 7-10 YR TRSY BD IEF	IEF	74,034	$7.0m0.54%	0.54%	Reduced -12.0k	-12,009 -14.0%
50	FIDELITY COVINGTON TRUST MSCI INFO TECH I FTEC	FTEC	44,300	$6.9m0.54%	0.54%	Reduced -4.6k	-4,590 -9.4%
51	JOHNSON & JOHNSON COM JNJ	JNJ	43,554	$6.9m0.53%	0.53%	Reduced -15.4k	-15,425 -26.1%
52	HOME DEPOT INC COM HD	HD	16,943	$6.5m0.50%	0.50%	Reduced -5.3k	-5,305 -23.8%
53	EXXON MOBIL CORP COM XOM	XOM	54,268	$6.3m0.49%	0.49%	Added +3.8k	+3,847 7.6%
54	ISHARES TR 1 3 YR TREAS BD SHY	SHY	76,569	$6.3m0.49%	0.49%	Reduced -49.9k	-49,928 -39.5%
55	DUKE ENERGY CORP NEW COM NEW DUK	DUK	58,606	$5.7m0.44%	0.44%	Reduced -3.0k	-3,047 -4.9%
56	ISHARES TR 3 7 YR TREAS BD IEI	IEI	45,593	$5.3m0.41%	0.41%	Reduced -6.9k	-6,878 -13.1%
57	EATON CORP PLC SHS ETN	ETN	16,846	$5.3m0.41%	0.41%	Reduced -8.9k	-8,910 -34.6%
58	BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS BAM	BAM	102,223	$4.3m0.33%	0.33%	Added +9.3k	+9,265 10.0%
59	AMGEN INC COM AMGN	AMGN	14,512	$4.1m0.32%	0.32%	Reduced -3.6k	-3,568 -19.7%
60	BANK AMERICA CORP COM BAC	BAC	106,844	$4.1m0.31%	0.31%	Reduced -38.3k	-38,271 -26.4%
61	ARISTA NETWORKS INC COM COM		13,390	$3.9m0.30%	0.30%	Reduced -1.1k	-1,086 -7.5%
62	ISHARES TR 20 YR TR BD ETF TLT	TLT	40,135	$3.8m0.29%	0.29%	New
63	WALMART INC COM WMT	WMT	62,062	$3.7m0.29%	0.29%	Reduced -11.6k	-11,570 -15.7%
64	ISHARES TR MBS ETF MBB	MBB	40,104	$3.7m0.29%	0.29%	New
65	VANGUARD WORLD FD INF TECH ETF VGT	VGT	7,066	$3.7m0.29%	0.29%	Reduced -141	-141 -2.0%
66	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	14,141	$3.7m0.29%	0.29%	Reduced -166	-166 -1.2%
67	ISHARES INC CORE MSCI EMKT IEMG	IEMG	70,472	$3.6m0.28%	0.28%	Added +7.0k	+7,046 11.1%
68	QUALCOMM INC COM QCOM	QCOM	21,312	$3.6m0.28%	0.28%	Reduced -18.4k	-18,441 -46.4%
69	COCA COLA CO COM KO	KO	58,472	$3.6m0.28%	0.28%	Reduced -27.0k	-27,017 -31.6%
70	CISCO SYS INC COM CSCO	CSCO	68,218	$3.4m0.26%	0.26%	Reduced -73.9k	-73,882 -52.0%
71	TEXAS INSTRS INC COM TXN	TXN	18,362	$3.2m0.25%	0.25%	Reduced -9.6k	-9,637 -34.4%
72	STARBUCKS CORP COM SBUX	SBUX	34,016	$3.1m0.24%	0.24%	Reduced -9.6k	-9,626 -22.1%
73	MOODYS CORP COM MCO	MCO	7,905	$3.1m0.24%	0.24%	Added +516	+516 7.0%
74	FIDELITY COVINGTON TRUST MSCI HLTH CARE I FHLC	FHLC	43,947	$3.1m0.24%	0.24%	Reduced -3.2k	-3,197 -6.8%
75	CATERPILLAR INC COM CAT	CAT	8,277	$3.0m0.24%	0.24%	Reduced -395	-395 -4.5%
76	AMERICAN EXPRESS CO COM AXP	AXP	13,183	$3.0m0.23%	0.23%	Added +89	+89 0.7%
77	FIDELITY COVINGTON TRUST MSCI COMMNTN SVC FCOM	FCOM	58,853	$2.9m0.23%	0.23%	Reduced -182	-182 -0.3%
78	EMERSON ELEC CO COM EMR	EMR	25,105	$2.8m0.22%	0.22%	Reduced -10.2k	-10,207 -28.9%
79	ADOBE INC COM ADBE	ADBE	5,428	$2.7m0.21%	0.21%	Added +87	+87 1.6%
80	FIDELITY COVINGTON TRUST MSCI FINLS IDX FNCL	FNCL	40,615	$2.4m0.19%	0.19%	Added +5.8k	+5,766 16.6%
81	WELLS FARGO CO NEW COM WFC	WFC	41,231	$2.4m0.19%	0.19%	Reduced -19.2k	-19,239 -31.8%
82	VANGUARD SPECIALIZED FUNDS DIV APP ETF VIG	VIG	13,033	$2.4m0.18%	0.18%	Added +6	+6 0.1%
83	HUNTINGTON BANCSHARES INC COM HBAN	HBAN	167,040	$2.3m0.18%	0.18%	Reduced -64.6k	-64,583 -27.9%
84	NIKE INC CL B NKE	NKE	24,787	$2.3m0.18%	0.18%	Reduced -932	-932 -3.6%
85	AT&T INC COM T	T	131,183	$2.3m0.18%	0.18%	Reduced -23.0k	-23,047 -14.9%
86	CHUBB LIMITED COM CB	CB	8,848	$2.3m0.18%	0.18%	Reduced -2.1k	-2,089 -19.1%
87	INVESCO EXCHANGE TRADED FD T RAFI US 1000 ETF PRF	PRF	59,400	$2.3m0.18%	0.18%	Unchanged
88	IQVIA HLDGS INC COM IQV	IQV	8,945	$2.3m0.18%	0.18%	Added +2.1k	+2,118 31.0%
89	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	6,515	$2.2m0.17%	0.17%	Reduced -181	-181 -2.7%
90	MONDELEZ INTL INC CL A MDLZ	MDLZ	31,948	$2.2m0.17%	0.17%	Reduced -15.6k	-15,614 -32.8%
91	AMERICAN ELEC PWR CO INC COM AEP	AEP	25,848	$2.2m0.17%	0.17%	Reduced -2.9k	-2,916 -10.1%
92	ENBRIDGE INC COM ENB	ENB	61,118	$2.2m0.17%	0.17%	Reduced -45.5k	-45,489 -42.7%
93	MCDONALDS CORP COM MCD	MCD	7,690	$2.2m0.17%	0.17%	Reduced -3.0k	-2,979 -27.9%
94	LOCKHEED MARTIN CORP COM LMT	LMT	4,711	$2.1m0.17%	0.17%	Reduced -2.3k	-2,304 -32.8%
95	FIDELITY COVINGTON TRUST MSCI INDL INDX FIDU	FIDU	30,767	$2.1m0.16%	0.16%	Added +4.9k	+4,902 18.9%
96	PAYCHEX INC COM PAYX	PAYX	16,591	$2.0m0.16%	0.16%	Reduced -6.4k	-6,435 -27.9%
97	FIDELITY COVINGTON TRUST MSCI CONSM DIS FDIS	FDIS	24,249	$2.0m0.16%	0.16%	Added +1.0k	+1,002 4.3%
98	GARTNER INC COM IT	IT	4,129	$2.0m0.15%	0.15%	Reduced -273	-273 -6.2%
99	US BANCORP DEL COM NEW USB	USB	42,120	$1.9m0.15%	0.15%	Reduced -12.6k	-12,603 -23.0%
100	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	3,491	$1.8m0.14%	0.14%	Reduced -27.7k	-27,665 -88.8%

Sold out since Q4 2023

Security	Ticker	Shares held before	Value then
AMERICAN NATL BANKSHARES INC AMNB	AMNB	124,702	$6.1m124.7k shares
ISHARES TR EFA	EFA	71,706	$5.4m71.7k shares
FIRST BANCORP N C FBNC	FBNC	113,742	$4.2m113.7k shares
INVESCO EXCH TRADED FD TR II BAB	BAB	141,908	$3.8m141.9k shares
VULCAN MATLS CO VMC	VMC	14,030	$3.2m14.0k shares
GENERAL MLS INC GIS	GIS	39,486	$2.6m39.5k shares
ISHARES TR IWR	IWR	26,497	$2.1m26.5k shares
CAPITAL ONE FINL CORP COF	COF	12,048	$1.6m12.0k shares
CARRIER GLOBAL CORPORATION CARR	CARR	26,718	$1.5m26.7k shares
ISHARES TR GVI	GVI	11,225	$1.2m11.2k shares
OTIS WORLDWIDE CORP OTIS	OTIS	12,437	$1.1m12.4k shares
SPLUNK INC SPLK	SPLK	5,659	$862.1k5.7k shares
ISHARES TR IJR	IJR	7,589	$821.5k7.6k shares
GILEAD SCIENCES INC GILD	GILD	10,099	$818.1k10.1k shares
ISHARES TR MUB	MUB	7,419	$804.3k7.4k shares
HOOKER FURNISHINGS CORPORATI HOFT	HOFT	27,890	$727.1k27.9k shares
COLGATE PALMOLIVE CO CL	CL	8,741	$696.7k8.7k shares
TRACTOR SUPPLY CO TSCO	TSCO	3,213	$690.9k3.2k shares
DOMINION ENERGY INC D	D	14,335	$673.7k14.3k shares
ISHARES TR ITA	ITA	4,437	$561.8k4.4k shares
BERKSHIRE HATHAWAY INC DEL BRK.A	BRK.A	1	$542.6k1 shares
NUVEEN VIRGINIA QLTY MUNCPL NPV	NPV	46,002	$495.9k46.0k shares
ISHARES TR IWM	IWM	2,034	$408.2k2.0k shares
PFIZER INC PFE	PFE	11,929	$343.4k11.9k shares
LABORATORY CORP AMER HLDGS		1,401	$318.4k1.4k shares