Smith Salley Wealth Management

GREENSBORO, NC · CIK 1482012 · 13F filing filed 2025-10-20

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

$1.9bn reported value +12.4% vs Q2 2025

263positions

38.5%in top 10

17 new 120 added 76 reduced 9 sold out vs Q2 2025

Holdings, Q3 2025

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	NVIDIA CORPORATION COM NVDA	NVDA	808,419	$150.8m7.76%	7.76%	Added +10.4k	+10,399 1.3%
2	MICROSOFT CORP COM MSFT	MSFT	234,981	$121.7m6.26%	6.26%	Added +9.1k	+9,137 4.0%
3	APPLE INC COM AAPL	AAPL	410,211	$104.5m5.38%	5.38%	Added +3.4k	+3,395 0.8%
4	ALPHABET INC CAP STK CL C GOOG	GOOG	273,963	$66.7m3.43%	3.43%	Added +9.0k	+8,965 3.4%
5	AMAZON COM INC COM AMZN	AMZN	274,797	$60.3m3.10%	3.10%	Added +11.4k	+11,410 4.3%
6	META PLATFORMS INC CL A META	META	79,603	$58.5m3.01%	3.01%	Added +2.9k	+2,858 3.7%
7	JPMORGAN CHASE & CO COM JPM	JPM	169,084	$53.3m2.74%	2.74%	Reduced -281	-281 -0.2%
8	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	102,385	$51.5m2.65%	2.65%	Added +1.7k	+1,697 1.7%
9	TJX COS INC NEW COM TJX	TJX	280,324	$40.5m2.09%	2.09%	Added +6.7k	+6,691 2.5%
10	VISA INC COM CL A V	V	118,149	$40.3m2.08%	2.08%	Added +3.1k	+3,096 2.7%
11	RTX CORPORATION COM RTX	RTX	227,175	$38.0m1.96%	1.96%	Added +9.8k	+9,835 4.5%
12	ABBVIE INC COM ABBV	ABBV	158,917	$36.8m1.89%	1.89%	Added +4.9k	+4,911 3.2%
13	LOWES COS INC COM LOW	LOW	133,055	$33.4m1.72%	1.72%	Added +3.6k	+3,578 2.8%
14	BROADCOM INC COM AVGO	AVGO	96,666	$31.9m1.64%	1.64%	Added +15.2k	+15,233 18.7%
15	BROOKFIELD CORP CL A LTD VT SH BN	BN	439,430	$30.1m1.55%	1.55%	Reduced -2.4k	-2,377 -0.5%
16	MASTERCARD INCORPORATED CL A MA	MA	51,227	$29.1m1.50%	1.50%	Reduced -250	-250 -0.5%
17	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	29,943	$29.0m1.49%	1.49%	Added +130	+130 0.4%
18	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	58,846	$28.5m1.47%	1.47%	Added +1.8k	+1,771 3.1%
19	ARISTA NETWORKS INC COM SHS ANET	ANET	192,794	$28.1m1.45%	1.45%	Added +8.8k	+8,764 4.8%
20	ANALOG DEVICES INC COM ADI	ADI	109,416	$26.9m1.38%	1.38%	Added +2.1k	+2,097 1.9%
21	NEXTERA ENERGY INC COM NEE	NEE	350,912	$26.5m1.36%	1.36%	Added +13.2k	+13,187 3.9%
22	LINDE PLC SHS LIN	LIN	53,393	$25.4m1.31%	1.31%	Added +1.9k	+1,866 3.6%
23	ABBOTT LABS COM ABT	ABT	187,603	$25.1m1.29%	1.29%	Added +5.5k	+5,525 3.0%
24	PROCTER AND GAMBLE CO COM PG	PG	161,816	$24.9m1.28%	1.28%	Added +5.8k	+5,769 3.7%
25	AMETEK INC COM AME	AME	131,257	$24.7m1.27%	1.27%	Reduced -1.3k	-1,324 -1.0%
26	MARVELL TECHNOLOGY INC COM MRVL	MRVL	286,124	$24.1m1.24%	1.24%	Added +2.3k	+2,312 0.8%
27	CHEVRON CORP NEW COM CVX	CVX	125,256	$19.5m1.00%	1.00%	Reduced -1.1k	-1,104 -0.9%
28	NXP SEMICONDUCTORS N V COM NXPI	NXPI	83,144	$18.9m0.97%	0.97%	Reduced -1.1k	-1,125 -1.3%
29	S&P GLOBAL INC COM SPGI	SPGI	38,886	$18.9m0.97%	0.97%	Added +527	+527 1.4%
30	UNION PAC CORP COM UNP	UNP	79,398	$18.8m0.97%	0.97%	Added +1.9k	+1,880 2.4%
31	ALPHABET INC CAP STK CL A GOOGL	GOOGL	75,334	$18.3m0.94%	0.94%	Reduced -7.8k	-7,846 -9.4%
32	CURTISS WRIGHT CORP COM CW	CW	32,990	$17.9m0.92%	0.92%	Added +467	+467 1.4%
33	PEPSICO INC COM PEP	PEP	127,207	$17.9m0.92%	0.92%	Added +106	+106 0.1%
34	ROPER TECHNOLOGIES INC COM ROP	ROP	35,471	$17.7m0.91%	0.91%	Reduced -414	-414 -1.1%
35	MARKEL GROUP INC COM MKL	MKL	9,225	$17.6m0.91%	0.91%	Reduced -118	-118 -1.3%
36	CASEYS GEN STORES INC COM CASY	CASY	30,652	$17.3m0.89%	0.89%	Reduced -4	-4 -0.0%
37	PNC FINL SVCS GROUP INC COM PNC	PNC	77,578	$15.6m0.80%	0.80%	Added +2.5k	+2,471 3.3%
38	MEDTRONIC PLC SHS MDT	MDT	161,737	$15.4m0.79%	0.79%	Reduced -1.0k	-1,032 -0.6%
39	ELI LILLY & CO COM LLY	LLY	19,455	$14.8m0.76%	0.76%	Added +17.8k	+17,754 1043.7%
40	ISHARES TR MBS ETF MBB	MBB	151,508	$14.4m0.74%	0.74%	Added +8.9k	+8,933 6.3%
41	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	57,542	$14.2m0.73%	0.73%	Added +1.4k	+1,417 2.5%
42	NORTHROP GRUMMAN CORP COM NOC	NOC	21,452	$13.1m0.67%	0.67%	Reduced -164	-164 -0.8%
43	ELEVANCE HEALTH INC COM ELV	ELV	39,852	$12.9m0.66%	0.66%	Added +8.2k	+8,226 26.0%
44	XYLEM INC COM XYL	XYL	81,613	$12.0m0.62%	0.62%	Reduced -1.0k	-1,039 -1.3%
45	ISHARES TR ISHS 1-5YR INVS IGSB	IGSB	206,655	$11.0m0.56%	0.56%	Added +40.6k	+40,606 24.4%
46	TRANSDIGM GROUP INC COM TDG	TDG	8,111	$10.7m0.55%	0.55%	Reduced -29	-29 -0.4%
47	ASTRAZENECA PLC SPONSORED ADR SPONSORED ADR		136,228	$10.5m0.54%	0.54%	Added +120.6k	+120,577 770.4%
48	FIDELITY COVINGTON TRUST MSCI INFO TECH I FTEC	FTEC	45,544	$10.1m0.52%	0.52%	Reduced -446	-446 -1.0%
49	COLGATE PALMOLIVE CO COM CL	CL	125,787	$10.1m0.52%	0.52%	Added +110.0k	+110,034 698.5%
50	ISHARES TR CORE MSCI EAFE IEFA	IEFA	111,749	$9.8m0.50%	0.50%	Reduced -907	-907 -0.8%
51	JOHNSON & JOHNSON COM JNJ	JNJ	51,430	$9.5m0.49%	0.49%	Added +5.5k	+5,483 11.9%
52	EXXON MOBIL CORP COM XOM	XOM	75,176	$8.5m0.44%	0.44%	Added +10.6k	+10,643 16.5%
53	WALMART INC COM WMT	WMT	81,486	$8.4m0.43%	0.43%	Added +6.1k	+6,104 8.1%
54	HOME DEPOT INC COM HD	HD	19,919	$8.1m0.42%	0.42%	Added +136	+136 0.7%
55	BANK AMERICA CORP COM BAC	BAC	141,543	$7.3m0.38%	0.38%	Added +16.2k	+16,169 12.9%
56	CATERPILLAR INC COM CAT	CAT	15,263	$7.3m0.37%	0.37%	Added +2.2k	+2,204 16.9%
57	ISHARES TR ISHS 5-10YR INVT IGIB	IGIB	132,375	$7.2m0.37%	0.37%	Added +8.0k	+8,012 6.4%
58	ISHARES TR 20 YR TR BD ETF TLT	TLT	75,855	$6.8m0.35%	0.35%	Added +4.9k	+4,907 6.9%
59	DUKE ENERGY CORP NEW COM NEW DUK	DUK	54,622	$6.8m0.35%	0.35%	Added +410	+410 0.8%
60	CHEMED CORP NEW COM CHE	CHE	14,570	$6.5m0.34%	0.34%	Reduced -3.0k	-2,981 -17.0%
61	BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS BAM	BAM	114,448	$6.5m0.34%	0.34%	Reduced -1.8k	-1,785 -1.5%
62	EATON CORP PLC SHS ETN	ETN	16,796	$6.3m0.32%	0.32%	Added +928	+928 5.8%
63	FIRST BANCORP N C COM FBNC	FBNC	110,644	$5.9m0.30%	0.30%	Reduced -1.0k	-1,000 -0.9%
64	COCA COLA CO COM KO	KO	78,247	$5.2m0.27%	0.27%	Added +12.7k	+12,723 19.4%
65	MOODYS CORP COM MCO	MCO	10,800	$5.1m0.26%	0.26%	Added +343	+343 3.3%
66	CISCO SYS INC COM CSCO	CSCO	71,461	$4.9m0.25%	0.25%	Added +2.0k	+2,012 2.9%
67	VANGUARD WORLD FD INF TECH ETF VGT	VGT	6,428	$4.8m0.25%	0.25%	Reduced -35	-35 -0.5%
68	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	13,977	$4.6m0.24%	0.24%	Unchanged
69	ISHARES INC CORE MSCI EMKT IEMG	IEMG	69,249	$4.6m0.23%	0.23%	Reduced -586	-586 -0.8%
70	ISHARES TR 0-5YR HI YL CP SHYG	SHYG	104,523	$4.5m0.23%	0.23%	Added +5.9k	+5,879 6.0%
71	UNITEDHEALTH GROUP INC COM UNH	UNH	12,873	$4.4m0.23%	0.23%	Added +6.1k	+6,079 89.5%
72	BLACKROCK INC COM BLK	BLK	3,695	$4.3m0.22%	0.22%	Added +644	+644 21.1%
73	AMERICAN EXPRESS CO COM AXP	AXP	12,947	$4.3m0.22%	0.22%	Reduced -224	-224 -1.7%
74	FIDELITY COVINGTON TRUST MSCI FINLS IDX FNCL	FNCL	56,102	$4.3m0.22%	0.22%	Added +2.3k	+2,317 4.3%
75	FIDELITY COVINGTON TRUST MSCI COMMNTN SVC FCOM	FCOM	58,093	$4.1m0.21%	0.21%	Reduced -543	-543 -0.9%
76	MORGAN STANLEY COM NEW MS	MS	25,745	$4.1m0.21%	0.21%	Added +4.4k	+4,375 20.5%
77	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	14,122	$4.0m0.21%	0.21%	Added +65	+65 0.5%
78	MERCADOLIBRE INC COM MELI	MELI	1,696	$4.0m0.20%	0.20%	Added +63	+63 3.9%
79	AT&T INC COM T	T	140,333	$4.0m0.20%	0.20%	Added +16.4k	+16,445 13.3%
80	WELLS FARGO CO NEW COM WFC	WFC	43,894	$3.7m0.19%	0.19%	Added +658	+658 1.5%
81	TEXAS INSTRS INC COM TXN	TXN	19,768	$3.6m0.19%	0.19%	Added +755	+755 4.0%
82	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	6,019	$3.6m0.19%	0.19%	Added +1.5k	+1,486 32.8%
83	STARBUCKS CORP COM SBUX	SBUX	41,515	$3.5m0.18%	0.18%	Reduced -671	-671 -1.6%
84	MCDONALDS CORP COM MCD	MCD	11,469	$3.5m0.18%	0.18%	Added +2.1k	+2,129 22.8%
85	ENBRIDGE INC COM ENB	ENB	67,796	$3.4m0.18%	0.18%	Added +1.4k	+1,411 2.1%
86	VERTIV HOLDINGS CO COM CL A VRT	VRT	22,555	$3.4m0.18%	0.18%	Added +985	+985 4.6%
87	QUALCOMM INC COM QCOM	QCOM	20,427	$3.4m0.17%	0.17%	Added +731	+731 3.7%
88	SERVICENOW INC COM NOW	NOW	3,590	$3.3m0.17%	0.17%	Added +929	+929 34.9%
89	AMERICAN ELEC PWR CO INC COM AEP	AEP	29,131	$3.3m0.17%	0.17%	Reduced -17	-17 -0.1%
90	MERCK & CO INC COM MRK	MRK	38,842	$3.3m0.17%	0.17%	Reduced -115.8k	-115,841 -74.9%
91	BOOKING HOLDINGS INC COM BKNG	BKNG	599	$3.2m0.17%	0.17%	Added +126	+126 26.6%
92	SALESFORCE INC COM CRM	CRM	13,541	$3.2m0.17%	0.17%	Added +4.0k	+3,965 41.4%
93	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	4,736	$3.2m0.16%	0.16%	Reduced -150	-150 -3.1%
94	TESLA INC COM TSLA	TSLA	6,986	$3.1m0.16%	0.16%	Added +1.5k	+1,512 27.6%
95	HUNTINGTON BANCSHARES INC COM HBAN	HBAN	178,626	$3.1m0.16%	0.16%	Added +3.4k	+3,383 1.9%
96	NETFLIX INC COM NFLX	NFLX	2,565	$3.1m0.16%	0.16%	Added +354	+354 16.0%
97	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	6,404	$3.1m0.16%	0.16%	Reduced -282	-282 -4.2%
98	AMGEN INC COM AMGN	AMGN	10,756	$3.0m0.16%	0.16%	Added +53	+53 0.5%
99	FIDELITY COVINGTON TRUST MSCI HLTH CARE I FHLC	FHLC	43,475	$2.9m0.15%	0.15%	Reduced -702	-702 -1.6%
100	EMERSON ELEC CO COM EMR	EMR	22,161	$2.9m0.15%	0.15%	Reduced -2.0k	-1,984 -8.2%

Sold out since Q2 2025

Security	Ticker	Shares held before	Value then
CONSTELLATION BRANDS INC STZ	STZ	71,830	$11.7m71.8k shares
PAYCHEX INC PAYX	PAYX	16,619	$2.4m16.6k shares
GARTNER INC IT	IT	5,884	$2.4m5.9k shares
EOG RES INC EOG	EOG	5,718	$684.0k5.7k shares
ADOBE INC ADBE	ADBE	633	$244.9k633 shares
DISNEY WALT CO DIS	DIS	1,879	$233.0k1.9k shares
HUBSPOT INC HUBS	HUBS	400	$222.7k400 shares
VANGUARD INDEX FDS VB	VB	913	$216.4k913 shares
VICTORY PORTFOLIOS II VFLO	VFLO	5,875	$207.7k5.9k shares