# Richard W. Paul & Associates, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1964203. Source: https://holderbook.com/funds/1964203-richard-w-paul-associates-llc/

- Reported value: $327.0M
- Positions: 320
- Weight of the ten largest: 36.9%
- Filed: 2026-08-10

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES TR | [IUSV](https://holderbook.com/stocks/IUSV/) | $20.3M | 184,588 | 6.2% | 15 |
| ISHARES TR | [IUSG](https://holderbook.com/stocks/IUSG/) | $18.9M | 100,700 | 5.8% | 15 |
| ISHARES TR | [TLT](https://holderbook.com/stocks/TLT/) | $11.6M | 134,132 | 3.5% | 15 |
| J P MORGAN EXCHANGE TRADED F | [JPIE](https://holderbook.com/stocks/JPIE/) | $11.4M | 247,862 | 3.5% | 13 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $11.3M | 117,424 | 3.5% | 15 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $10.4M | 69,807 | 3.2% | 15 |
| PIMCO ETF TR | [BOND](https://holderbook.com/stocks/BOND/) | $10.3M | 111,468 | 3.1% | 6 |
| PIMCO ETF TR | [PYLD](https://holderbook.com/stocks/PYLD/) | $9.9M | 374,816 | 3.0% | 6 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $8.4M | 39,568 | 2.6% | 14 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $8.2M | 11,069 | 2.5% | 15 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $7.6M | 72,892 | 2.3% | 15 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $7.0M | 84,321 | 2.1% | 15 |
| FIDELITY COVINGTON TRUST | [FESM](https://holderbook.com/stocks/FESM/) | $6.7M | 139,079 | 2.1% | 2 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $5.2M | 18,102 | 1.6% | 15 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $4.8M | 6,399 | 1.5% | 15 |
| FIDELITY MERRIMACK STR TR | [FBND](https://holderbook.com/stocks/FBND/) | $4.5M | 98,755 | 1.4% | 2 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $4.4M | 11,839 | 1.4% | 15 |
| ISHARES TR | [IUSB](https://holderbook.com/stocks/IUSB/) | $4.2M | 91,544 | 1.3% | 10 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $3.9M | 19,388 | 1.2% | 15 |
| ISHARES TR | [SCZ](https://holderbook.com/stocks/SCZ/) | $3.9M | 46,878 | 1.2% | 15 |
| ISHARES TR | [EEM](https://holderbook.com/stocks/EEM/) | $3.8M | 55,443 | 1.2% | 15 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $3.7M | 47,623 | 1.1% | 15 |
| VANGUARD WHITEHALL FDS | [VYMI](https://holderbook.com/stocks/VYMI/) | $3.3M | 33,727 | 1.0% | 11 |
| ISHARES TR | [IAGG](https://holderbook.com/stocks/IAGG/) | $2.8M | 55,552 | 0.9% | 15 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $2.6M | 2,257 | 0.8% | 15 |
| ISHARES TR | [ISTB](https://holderbook.com/stocks/ISTB/) | $2.6M | 52,973 | 0.8% | 15 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $2.4M | 24,744 | 0.7% | 15 |
| VANGUARD WHITEHALL FDS | [VYM](https://holderbook.com/stocks/VYM/) | $2.4M | 15,110 | 0.7% | 15 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $2.4M | 4,221 | 0.7% | 15 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $2.4M | 9,961 | 0.7% | 15 |
| FIRST TR EXCHNG TRADED FD VI | [BUFD](https://holderbook.com/stocks/BUFD/) | $2.3M | 76,899 | 0.7% | 3 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $2.2M | 6,858 | 0.7% | 15 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $2.1M | 6,007 | 0.6% | 15 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $2.1M | 3,635 | 0.6% | 15 |
| ISHARES TR | [EMB](https://holderbook.com/stocks/EMB/) | $2.1M | 21,268 | 0.6% | 3 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $2.0M | 11,147 | 0.6% | 15 |
| JANUS DETROIT STR TR | [JMBS](https://holderbook.com/stocks/JMBS/) | $2.0M | 44,729 | 0.6% | 3 |
| FIRST TR EXCHNG TRADED FD VI | [BUFR](https://holderbook.com/stocks/BUFR/) | $2.0M | 54,540 | 0.6% | 8 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $1.9M | 4,664 | 0.6% | 15 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $1.9M | 5,124 | 0.6% | 15 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $1.9M | 7,599 | 0.6% | 15 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $1.9M | 950 | 0.6% | 7 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $1.9M | 17,286 | 0.6% | 15 |
| ISHARES TR | [IGF](https://holderbook.com/stocks/IGF/) | $1.7M | 25,801 | 0.5% | 2 |
| SPDR SERIES TRUST | [SPYM](https://holderbook.com/stocks/SPYM/) | $1.7M | 19,408 | 0.5% | 15 |
| SEAGATE TECHNOLOGY HLDNGS PL | [STX](https://holderbook.com/stocks/STX/) | $1.7M | 1,767 | 0.5% | 15 |
| ALIGN TECHNOLOGY INC | [ALGN](https://holderbook.com/stocks/ALGN/) | $1.7M | 10,089 | 0.5% | 4 |
| ISHARES TR | [MCHI](https://holderbook.com/stocks/MCHI/) | $1.7M | 32,870 | 0.5% | 14 |
| NORWEGIAN CRUISE LINE HLDGS | [NCLH](https://holderbook.com/stocks/NCLH/) | $1.6M | 76,116 | 0.5% | 3 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $1.6M | 4,440 | 0.5% | 15 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $1.6M | 36,655 | 0.5% | 15 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $1.5M | 4,305 | 0.5% | 15 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $1.5M | 11,886 | 0.5% | 15 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $1.5M | 14,594 | 0.5% | 15 |
| FIDELITY ETHEREUM FD | [FETH](https://holderbook.com/stocks/FETH/) | $1.5M | 95,021 | 0.5% | 8 |
| DOMINION ENERGY INC | [D](https://holderbook.com/stocks/D/) | $1.5M | 21,898 | 0.5% | 15 |
| VERTIV HOLDINGS CO | [VRT](https://holderbook.com/stocks/VRT/) | $1.5M | 4,421 | 0.5% | 15 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $1.5M | 10,019 | 0.4% | 15 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $1.5M | 1,221 | 0.4% | 15 |
| TARGET CORP | [TGT](https://holderbook.com/stocks/TGT/) | $1.4M | 10,575 | 0.4% | 5 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $1.4M | 19,140 | 0.4% | 15 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $1.4M | 7,203 | 0.4% | 15 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $1.4M | 5,402 | 0.4% | 15 |
| COINBASE GLOBAL INC | [COIN](https://holderbook.com/stocks/COIN/) | $1.4M | 9,293 | 0.4% | 15 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $1.4M | 4,510 | 0.4% | 15 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $1.3M | 1,440 | 0.4% | 15 |
| ULTA BEAUTY INC | [ULTA](https://holderbook.com/stocks/ULTA/) | $1.3M | 2,921 | 0.4% | 15 |
| FIRST TR EXCHANGE TRADED FD | [CIBR](https://holderbook.com/stocks/CIBR/) | $1.3M | 14,615 | 0.4% | 15 |
| SELECT SECTOR SPDR TR | [XLV](https://holderbook.com/stocks/XLV/) | $1.3M | 8,187 | 0.4% | 15 |
| NOVO-NORDISK A S | [NVO](https://holderbook.com/stocks/NVO/) | $1.3M | 26,795 | 0.4% | 15 |
| FIRST SOLAR INC | [FSLR](https://holderbook.com/stocks/FSLR/) | $1.2M | 5,279 | 0.4% | 15 |
| ISHARES TR | [HYG](https://holderbook.com/stocks/HYG/) | $1.2M | 15,289 | 0.4% | 15 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $1.2M | 17,087 | 0.4% | 15 |
| ALIBABA GROUP HLDG LTD | [BABA](https://holderbook.com/stocks/BABA/) | $1.2M | 12,658 | 0.4% | 15 |
| JANUS DETROIT STR TR | [JAAA](https://holderbook.com/stocks/JAAA/) | $1.2M | 23,872 | 0.4% | 6 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $1.2M | 13,660 | 0.4% | 15 |
| BOSTON SCIENTIFIC CORP | [BSX](https://holderbook.com/stocks/BSX/) | $1.2M | 27,127 | 0.4% | 14 |
| NIKE INC | [NKE](https://holderbook.com/stocks/NKE/) | $1.2M | 28,190 | 0.4% | 1 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $1.1M | 6,166 | 0.3% | 15 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $1.1M | 7,018 | 0.3% | 13 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $1.1M | 2,137 | 0.3% | 15 |
| INVESCO EXCH TRADED FD TR II | [QQQM](https://holderbook.com/stocks/QQQM/) | $1.1M | 3,585 | 0.3% | 15 |
| BROADRIDGE FINL SOLUTIONS IN | [BR](https://holderbook.com/stocks/BR/) | $1.1M | 7,926 | 0.3% | 1 |
| APOLLO GLOBAL MGMT INC | [APO](https://holderbook.com/stocks/APO/) | $1.1M | 9,167 | 0.3% | 3 |
| SAP SE | [SAP](https://holderbook.com/stocks/SAP/) | $1.1M | 6,841 | 0.3% | 1 |
| SPDR SERIES TRUST | [BIL](https://holderbook.com/stocks/BIL/) | $1.0M | 11,334 | 0.3% | 15 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $1.0M | 8,955 | 0.3% | 15 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $997.8K | 48,205 | 0.3% | 15 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $990.2K | 1,326 | 0.3% | 15 |
| FISERV INC | [FISV](https://holderbook.com/stocks/FISV/) | $982.4K | 20,028 | 0.3% | 15 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $971.8K | 5,101 | 0.3% | 15 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $932.3K | 13,084 | 0.3% | 15 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $929.5K | 7,469 | 0.3% | 15 |
| SELECT SECTOR SPDR TR | [XLP](https://holderbook.com/stocks/XLP/) | $904.1K | 10,884 | 0.3% | 15 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $883.0K | 10,865 | 0.3% | 15 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $880.4K | 2,954 | 0.3% | 15 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $863.1K | 14,980 | 0.3% | 15 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $838.9K | 1,936 | 0.3% | 6 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $834.6K | 14,647 | 0.3% | 15 |
| PRUDENTIAL FINL INC | [PRU](https://holderbook.com/stocks/PRU/) | $820.6K | 7,603 | 0.3% | 15 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +10.7% | +14.8% | -4.1% | 100% |
| Q1 2026 | -2.2% | -4.6% | +2.4% | 100% |
| Q4 2025 | +1.5% | +2.4% | -0.8% | 100% |
| Q3 2025 | +6.4% | +7.8% | -1.4% | 100% |
| Q2 2025 | +8.2% | +10.5% | -2.3% | 100% |
| Q1 2025 | -3.3% | -4.6% | +1.3% | 100% |
| Q4 2024 | -0.6% | +2.1% | -2.8% | 100% |
| Q3 2024 | +6.2% | +5.4% | +0.7% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $327.0M | 320 |
| Q1 2026 | $297.1M | 300 |
| Q4 2025 | $301.2M | 294 |
| Q3 2025 | $292.9M | 316 |
| Q2 2025 | $276.6M | 337 |
| Q1 2025 | $255.0M | 337 |
| Q4 2024 | $274.5M | 513 |
| Q3 2024 | $278.4M | 506 |
| Q2 2024 | $259.1M | 497 |
| Q1 2024 | $250.5M | 512 |
| Q4 2023 | $238.1M | 503 |
| Q3 2023 | $218.6M | 511 |