# L. Roy Papp & Associates, LLP

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 809339. Source: https://holderbook.com/funds/809339-l-roy-papp-associates-llp/

- Reported value: $951.4M
- Positions: 193
- Weight of the ten largest: 40.7%
- Filed: 2026-07-23

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 |
|---|---|---|---|---|---|
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $65.4M | 226,042 | 6.9% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $52.9M | 149,783 | 5.6% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $45.0M | 120,590 | 4.7% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $35.4M | 103,237 | 3.7% | 31 |
| BLACKROCK INC | [BLK](https://holderbook.com/stocks/BLK/) | $35.1M | 36,515 | 3.7% | 7 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $33.7M | 94,355 | 3.5% | 31 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $33.3M | 111,672 | 3.5% | 21 |
| OREILLY AUTOMOTIVE INC | [ORLY](https://holderbook.com/stocks/ORLY/) | $30.6M | 332,328 | 3.2% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $30.1M | 118,647 | 3.2% | 31 |
| EXPEDITORS INTL WASH INC | [EXPD](https://holderbook.com/stocks/EXPD/) | $26.0M | 159,685 | 2.7% | 31 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $25.8M | 51,509 | 2.7% | 31 |
| EOG RES INC | [EOG](https://holderbook.com/stocks/EOG/) | $23.2M | 179,017 | 2.4% | 31 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $22.3M | 23,794 | 2.3% | 31 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $22.0M | 62,411 | 2.3% | 31 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $21.6M | 68,570 | 2.3% | 31 |
| SPDR SERIES TRUST | [XBI](https://holderbook.com/stocks/XBI/) | $21.2M | 134,181 | 2.2% | 31 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $15.9M | 133,614 | 1.7% | 31 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $15.5M | 72,831 | 1.6% | 31 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $14.9M | 37,611 | 1.6% | 31 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $13.4M | 107,951 | 1.4% | 31 |
| METTLER TOLEDO INTERNATIONAL | [MTD](https://holderbook.com/stocks/MTD/) | $13.3M | 10,383 | 1.4% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $13.2M | 40,201 | 1.4% | 31 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $13.0M | 25,310 | 1.4% | 31 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $11.5M | 83,856 | 1.2% | 31 |
| AMETEK INC | [AME](https://holderbook.com/stocks/AME/) | $11.5M | 47,384 | 1.2% | 31 |
| ROCKWELL AUTOMATION INC | [ROK](https://holderbook.com/stocks/ROK/) | $11.3M | 22,910 | 1.2% | 31 |
| SCHWAB STRATEGIC TR | [SCHO](https://holderbook.com/stocks/SCHO/) | $11.3M | 467,341 | 1.2% | 29 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $10.5M | 55,162 | 1.1% | 31 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $10.0M | 35,957 | 1.1% | 31 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $9.8M | 67,086 | 1.0% | 31 |
| VALMONT INDS INC | [VMI](https://holderbook.com/stocks/VMI/) | $8.5M | 14,767 | 0.9% | 22 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $7.8M | 54,443 | 0.8% | 31 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $7.7M | 38,622 | 0.8% | 10 |
| ISHARES TR | [USMV](https://holderbook.com/stocks/USMV/) | $7.5M | 77,300 | 0.8% | 31 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $6.9M | 13,212 | 0.7% | 14 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $6.7M | 49,554 | 0.7% | 31 |
| WEYERHAEUSER CO | [WY](https://holderbook.com/stocks/WY/) | $6.5M | 272,920 | 0.7% | 29 |
| RBC BEARINGS INC | [RBC](https://holderbook.com/stocks/RBC/) | $6.4M | 9,968 | 0.7% | 31 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $6.1M | 36,897 | 0.6% | 31 |
| ISHARES TR | [IGSB](https://holderbook.com/stocks/IGSB/) | $5.9M | 111,774 | 0.6% | 3 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $5.7M | 5,387 | 0.6% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $5.7M | 11,357 | 0.6% | 31 |
| NXP SEMICONDUCTORS N V | [NXPI](https://holderbook.com/stocks/NXPI/) | $5.6M | 20,040 | 0.6% | 31 |
| WASTE CONNECTIONS INC | [WCN](https://holderbook.com/stocks/WCN/) | $4.5M | 27,178 | 0.5% | 31 |
| WASTE MGMT INC DEL | [WM](https://holderbook.com/stocks/WM/) | $4.2M | 18,969 | 0.4% | 31 |
| VANGUARD WORLD FD | [VGT](https://holderbook.com/stocks/VGT/) | $4.2M | 34,992 | 0.4% | 21 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $4.1M | 15,089 | 0.4% | 31 |
| SCHWAB STRATEGIC TR | [SCHB](https://holderbook.com/stocks/SCHB/) | $4.0M | 139,075 | 0.4% | 31 |
| TRIMBLE INC | [TRMB](https://holderbook.com/stocks/TRMB/) | $3.9M | 76,078 | 0.4% | 31 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $3.9M | 16,295 | 0.4% | 31 |
| FACTSET RESH SYS INC | [FDS](https://holderbook.com/stocks/FDS/) | $3.4M | 14,896 | 0.4% | 31 |
| RESMED INC | [RMD](https://holderbook.com/stocks/RMD/) | $3.2M | 16,582 | 0.3% | 31 |
| PRICE T ROWE GROUP INC | [TROW](https://holderbook.com/stocks/TROW/) | $3.1M | 27,496 | 0.3% | 31 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $3.1M | 16,252 | 0.3% | 25 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $3.1M | 12,845 | 0.3% | 31 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $3.0M | 34,879 | 0.3% | 31 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $2.8M | 7,669 | 0.3% | 31 |
| IDEX CORP | [IEX](https://holderbook.com/stocks/IEX/) | $2.7M | 12,075 | 0.3% | 31 |
| BIO-TECHNE CORP | [TECH](https://holderbook.com/stocks/TECH/) | $2.7M | 38,650 | 0.3% | 31 |
| YETI HLDGS INC | [YETI](https://holderbook.com/stocks/YETI/) | $2.6M | 52,795 | 0.3% | 17 |
| MICROCHIP TECHNOLOGY INC. | [MCHP](https://holderbook.com/stocks/MCHP/) | $2.5M | 27,177 | 0.3% | 31 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $2.4M | 30,049 | 0.3% | 31 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $2.3M | 6,448 | 0.2% | 31 |
| SHERWIN WILLIAMS CO | [SHW](https://holderbook.com/stocks/SHW/) | $2.3M | 6,725 | 0.2% | 31 |
| ENTERPRISE PRODS PARTNERS L | [EPD](https://holderbook.com/stocks/EPD/) | $2.3M | 61,858 | 0.2% | 8 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $2.2M | 1,847 | 0.2% | 27 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $2.2M | 9,602 | 0.2% | 31 |
| WW GRAINGER INC | [GWW](https://holderbook.com/stocks/GWW/) | $2.1M | 1,575 | 0.2% | 31 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $2.1M | 14,956 | 0.2% | 31 |
| SYSCO CORP | [SYY](https://holderbook.com/stocks/SYY/) | $2.0M | 23,968 | 0.2% | 31 |
| INTUIT | [INTU](https://holderbook.com/stocks/INTU/) | $2.0M | 7,608 | 0.2% | 30 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $2.0M | 16,895 | 0.2% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $1.9M | 7,581 | 0.2% | 31 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $1.9M | 16,598 | 0.2% | 31 |
| PERMIAN RESOURCES CORP | [PR](https://holderbook.com/stocks/PR/) | $1.9M | 101,918 | 0.2% | 9 |
| STATE STR CORP | [STT](https://holderbook.com/stocks/STT/) | $1.9M | 11,027 | 0.2% | 31 |
| CHURCH & DWIGHT CO INC | [CHD](https://holderbook.com/stocks/CHD/) | $1.8M | 18,658 | 0.2% | 31 |
| VANGUARD MALVERN FDS | [VTIP](https://holderbook.com/stocks/VTIP/) | $1.7M | 34,697 | 0.2% | 29 |
| SILICON LABORATORIES INC | [SLAB](https://holderbook.com/stocks/SLAB/) | $1.7M | 7,809 | 0.2% | 31 |
| MCCORMICK & CO INC | [MKC](https://holderbook.com/stocks/MKC/) | $1.7M | 33,670 | 0.2% | 31 |
| SELECT SECTOR SPDR TR | [XLE](https://holderbook.com/stocks/XLE/) | $1.7M | 31,373 | 0.2% | 31 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $1.6M | 4,779 | 0.2% | 31 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $1.6M | 2,133 | 0.2% | 31 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $1.6M | 7,678 | 0.2% | 31 |
| COLGATE PALMOLIVE CO | [CL](https://holderbook.com/stocks/CL/) | $1.5M | 16,613 | 0.2% | 31 |
| DYNATRACE INC | [DT](https://holderbook.com/stocks/DT/) | $1.4M | 32,046 | 0.1% | 7 |
| EASTGROUP PPTYS INC | [EGP](https://holderbook.com/stocks/EGP/) | $1.3M | 6,378 | 0.1% | 31 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $1.3M | 4,518 | 0.1% | 31 |
| KINDER MORGAN INC DEL | [KMI](https://holderbook.com/stocks/KMI/) | $1.2M | 38,743 | 0.1% | 22 |
| PEGASYSTEMS INC | [PEGA](https://holderbook.com/stocks/PEGA/) | $1.2M | 40,375 | 0.1% | 31 |
| SYNOPSYS INC | [SNPS](https://holderbook.com/stocks/SNPS/) | $1.1M | 2,578 | 0.1% | 4 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $1.1M | 8,457 | 0.1% | 31 |
| VALVOLINE INC | [VVV](https://holderbook.com/stocks/VVV/) | $1.0M | 26,154 | 0.1% | 12 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $1.0M | 2,419 | 0.1% | 29 |
| ISHARES SILVER TR | [SLV](https://holderbook.com/stocks/SLV/) | $1.0M | 19,000 | 0.1% | 29 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $963.9K | 1,711 | 0.1% | 31 |
| ISHARES TR | [STIP](https://holderbook.com/stocks/STIP/) | $960.3K | 9,400 | 0.1% | 1 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $952.3K | 11,820 | 0.1% | 25 |
| NIKE INC | [NKE](https://holderbook.com/stocks/NKE/) | $947.2K | 23,074 | 0.1% | 31 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $907.4K | 1,255 | 0.1% | 13 |

## 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 | +9.5% | +14.8% | -5.3% | 100% |
| Q1 2026 | -4.0% | -4.6% | +0.6% | 100% |
| Q4 2025 | +2.5% | +2.4% | +0.2% | 100% |
| Q3 2025 | +6.2% | +7.8% | -1.7% | 100% |
| Q2 2025 | +3.3% | +10.5% | -7.1% | 100% |
| Q1 2025 | -3.4% | -4.6% | +1.1% | 100% |
| Q4 2024 | -0.3% | +2.1% | -2.4% | 100% |
| Q3 2024 | +5.6% | +5.4% | +0.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $951.4M | 193 |
| Q1 2026 | $867.4M | 184 |
| Q4 2025 | $904.5M | 185 |
| Q3 2025 | $889.6M | 182 |
| Q2 2025 | $841.8M | 180 |
| Q1 2025 | $815.2M | 174 |
| Q4 2024 | $856.6M | 178 |
| Q3 2024 | $826.2M | 177 |
| Q2 2024 | $825.2M | 172 |
| Q1 2024 | $840.1M | 176 |
| Q4 2023 | $805.6M | 174 |
| Q3 2023 | $738.0M | 165 |