L. Roy Papp & Associates, LLP
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 29, 2025), L. Roy Papp & Associates, LLP reported 178 stock positions worth $856.6 million. Its top holding was Apple (AAPL) at 7.4% of the portfolio, followed by Microsoft (MSFT, 6.0%) and BlackRock (BLK, 4.6%). Compared with Q3 2024, it opened 6 new positions, sold out of 5, added to 40 and reduced 70. The biggest buy was a new position in BlackRock (BLK) and the biggest sale Mettler-Toledo International (MTD, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- Phoenix, AZ
- CIK
- 0000809339
- Portfolio Value
- $856.6M (Q4 2024)
- SEC Filing
- 0001667731-25-000155 ↗ filed Jan 29, 2025
Holdings Value
Holdings 178 stocks · $856.6M
| AAPL Apple Inc. | 7.39% | 252,681 | $63.3M | Reduce -1.1% |
| MSFT Microsoft Corp. | 5.99% | 121,684 | $51.3M | Reduce -0.4% |
| BLK BlackRock Inc. | 4.62% | 38,626 | $39.6M | New |
| ACN Accenture PLC Class A | 4.56% | 111,011 | $39.1M | Reduce -0.9% |
| V Visa Inc. Class A | 3.87% | 104,975 | $33.2M | Reduce -0.7% |
| GOOG Alphabet Inc. Class C | 3.86% | 173,812 | $33.1M | Reduce -0.8% |
| ORLY O'reilly Automotive Inc. | 3.53% | 25,494 | $30.2M | Reduce -2.5% |
| COST Costco Wholesale Corp. | 3.05% | 28,526 | $26.1M | Reduce -3.1% |
| TMO Thermo Fisher Scientific Inc. | 2.97% | 48,916 | $25.4M | Add +0.4% |
| HD Home Depot Inc. | 2.69% | 59,205 | $23.0M | Add +0.2% |
| EOG EOG Resources Inc. | 2.67% | 186,806 | $22.9M | Reduce -3.2% |
| SYK Stryker Corp. | 2.62% | 62,282 | $22.4M | Reduce -1.1% |
| GOOGL Alphabet Inc. Class A | 2.47% | 111,943 | $21.2M | Reduce -0.3% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 2.26% | 171,442 | $19.4M | Reduce -0.6% |
| EXPD Expeditors Intl Wash Inc. | 2.12% | 164,305 | $18.2M | Add +0.2% |
| JNJ Johnson & Johnson | 2.00% | 118,361 | $17.1M | Add +0.1% |
| CNI Canadian Natl Railway Co. | 1.65% | 139,282 | $14.1M | Reduce -1.1% |
| XBI SS SPDR S&P Biotech ETF | 1.59% | 151,007 | $13.6M | Reduce -2.3% |
| MA Mastercard Inc. Class A | 1.59% | 25,804 | $13.6M | No change |
| FISV Fiserv Inc. | 1.46% | 60,842 | $12.5M | Add +0.5% |
| MTD Mettler-Toledo International | 1.46% | 10,193 | $12.5M | Reduce -0.9% |
| MRVL Marvell Technology Inc. | 1.39% | 107,895 | $11.9M | Add +0.3% |
| RSP Invesco S&P 500 Equal Weight | 1.34% | 65,304 | $11.4M | Add +1.4% |
| PG The Procter & Gamble Co. | 1.26% | 64,426 | $10.8M | Reduce -1.1% |
| XOM Exxon Mobil Corp. | 1.21% | 96,486 | $10.4M | Reduce -0.2% |
| FDS Factset Research Systems Inc. | 1.06% | 18,853 | $9.1M | Reduce -1.1% |
| ECL Ecolab Inc. | 0.98% | 35,777 | $8.4M | Add +0.3% |
| ADI Analog Devices Inc. | 0.91% | 36,805 | $7.8M | Add +1.3% |
| WY Weyerhaeuser Co. | 0.90% | 272,920 | $7.7M | No change |
| EMR Emerson Electric Co. | 0.85% | 58,820 | $7.3M | Reduce -1.9% |
| USMV iShares MSCI USA Min Vol Fac | 0.83% | 80,264 | $7.1M | Add +5.7% |
| XLK SS Technology Select Sector | 0.82% | 30,227 | $7.0M | Add +0.9% |
| PEP Pepsico Inc. | 0.82% | 46,196 | $7.0M | Add +0.3% |
| BDX Becton Dickinson and Co. | 0.79% | 29,775 | $6.8M | Reduce -7.5% |
| JPM JPMorgan Chase & Co. | 0.72% | 25,642 | $6.1M | Reduce -0.0% |
| AME Ametek Inc. | 0.71% | 33,517 | $6.0M | Reduce -5.6% |
| TRMB Trimble Inc. | 0.65% | 79,072 | $5.6M | Reduce -1.5% |
| CVX Chevron Corp. | 0.62% | 36,535 | $5.3M | Add +1.4% |
| WCN Waste Connections Inc. | 0.60% | 30,178 | $5.2M | No change |
| ROK Rockwell Automation Inc. | 0.60% | 18,006 | $5.1M | Add +3.5% |
| INTU Intuit Inc. | 0.57% | 7,802 | $4.9M | Add +0.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.53% | 9,940 | $4.5M | No change |
| NXPI NXP Semiconductors NV | 0.51% | 20,868 | $4.3M | Reduce -3.4% |
| NKE Nike Inc. Class B | 0.50% | 56,974 | $4.3M | Reduce -4.9% |
| VMI Valmont Industries | 0.50% | 13,921 | $4.3M | Reduce -0.3% |
| RBC RBC Bearings Inc. | 0.43% | 12,248 | $3.7M | Reduce -2.6% |
| ADBE Adobe Inc. | 0.41% | 7,873 | $3.5M | No change |
| SCHB Schwab US Broad Market ETF | 0.39% | 147,672 | $3.4M | Add +4.9% |
| VIG Vanguard Dividend Apprec ETF | 0.36% | 15,925 | $3.1M | Add +1.2% |
| ANSS Ansys Inc. | 0.36% | 9,206 | $3.1M | Reduce -4.3% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.35% | 7,369 | $3.0M | Add +1.7% |
| AMZN Amazon.com Inc. | 0.35% | 13,534 | $3.0M | Add +0.8% |
| IEX Idex Corp. | 0.35% | 14,165 | $3.0M | Reduce -3.6% |
| MKC McCormick & Co.-Non VTG SHRS | 0.34% | 38,626 | $2.9M | Reduce -0.5% |
| ADP Automatic Data Processing | 0.33% | 9,602 | $2.8M | No change |
| CLX Clorox Company | 0.30% | 15,770 | $2.6M | Reduce -0.6% |
| SHW The Sherwin-Williams Co. | 0.30% | 7,460 | $2.5M | Reduce -14.3% |
| CSGP Costar Group Inc. | 0.29% | 34,740 | $2.5M | Reduce -1.8% |
| WM Waste Management Inc. | 0.28% | 11,847 | $2.4M | No change |
| VGT Vanguard Info Tech ETF | 0.28% | 3,835 | $2.4M | No change |
| MCD McDonald's Corp. | 0.28% | 8,204 | $2.4M | Reduce -0.8% |
| CHD Church & Dwight Co. Inc. | 0.27% | 21,885 | $2.3M | Reduce -2.1% |
| UPS United Parcel Service Class B | 0.26% | 17,551 | $2.2M | Reduce -2.2% |
| PEGA Pegasystems Inc. | 0.25% | 23,400 | $2.2M | Reduce -2.9% |
| CL Colgate-Palmolive Co. | 0.23% | 21,398 | $1.9M | No change |
| VTI VG Morningstar TS MKT ETF-US | 0.22% | 6,584 | $1.9M | Reduce -0.6% |
| SYY Sysco Corp. | 0.22% | 24,842 | $1.9M | Reduce -0.4% |
| CSCO Cisco Systems Inc. | 0.22% | 31,995 | $1.9M | No change |
| RMD Resmed Inc. | 0.21% | 7,975 | $1.8M | Reduce -2.0% |
| CAT Caterpillar Inc. | 0.21% | 4,982 | $1.8M | No change |
| KO The Coca-Cola Co. | 0.21% | 28,817 | $1.8M | Add +0.1% |
| ICLR Icon PLC | 0.21% | 8,483 | $1.8M | Reduce -42.0% |
| MCHP Microchip Technology Inc. | 0.21% | 30,881 | $1.8M | Reduce -0.5% |
| LLY Eli Lilly & Co. | 0.20% | 2,207 | $1.7M | Reduce -0.4% |
| VTIP Vanguard Short-Term Tips | 0.20% | 34,902 | $1.7M | Reduce -4.0% |
| AMGN Amgen Inc. | 0.20% | 6,458 | $1.7M | No change |
| RTX RTX Corp. | 0.19% | 14,241 | $1.6M | Add +0.5% |
| TECH Bio-Techne Corp. | 0.19% | 22,707 | $1.6M | Reduce -10.2% |
| YETI Yeti Holdings Inc. filed as YETI HLDGS INC | 0.19% | 41,720 | $1.6M | Reduce -5.0% |
| WMT Walmart Inc. | 0.18% | 17,007 | $1.5M | Reduce -5.5% |
| ORCL Oracle Corp. | 0.18% | 9,173 | $1.5M | Add +0.0% |
| EPD Enterprise Products Partners | 0.16% | 44,606 | $1.4M | Reduce -0.8% |
| ABBV Abbvie Inc. | 0.16% | 7,692 | $1.4M | Reduce -1.9% |
| AXP American Express Co. | 0.16% | 4,500 | $1.3M | Reduce -4.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.15% | 5,917 | $1.3M | Reduce -4.2% |
| INFA Informatica Inc. Class A | 0.15% | 49,960 | $1.3M | Reduce -9.7% |
| STT State Street Corp. | 0.15% | 12,976 | $1.3M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.15% | 2,144 | $1.3M | Add +2.4% |
| META Meta Platforms Inc. Class A | 0.15% | 2,145 | $1.3M | Add +3.6% |
| SLAB Silicon Laboratories Inc. | 0.13% | 9,140 | $1.1M | Reduce -0.6% |
| XLE SS Energy Select Sector | 0.13% | 12,917 | $1.1M | Add +0.2% |
| EGP Eastgroup Properties Inc. | 0.12% | 6,358 | $1.0M | No change |
| TSLA Tesla Inc. | 0.12% | 2,464 | $995K | Reduce -6.2% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.11% | 12,560 | $980K | Reduce -1.4% |
| ABT Abbott Laboratories | 0.11% | 8,478 | $959K | No change |
| LIN Linde PLC | 0.11% | 2,289 | $958K | No change |
| STIP iShares 0-5 Year Tips Bond E | 0.11% | 9,400 | $946K | No change |
| IQV Iqvia Holdings Inc. | 0.11% | 4,804 | $944K | No change |
| FHN First Horizon Corp. | 0.11% | 44,913 | $905K | New |
| MRK Merck & Co. Inc. | 0.10% | 9,017 | $897K | Add +0.0% |
Portfolio Sells Q3 2024 → Q4 2024
| MTD Mettler-Toledo International | Reduce -0.9% | 1.46% | −0.41 |
| MSFT Microsoft Corp. | Reduce -0.4% | 5.99% | −0.38 |
| CNI Canadian Natl Railway Co. | Reduce -1.1% | 1.65% | −0.35 |
| ICLR Icon PLC | Reduce -42.0% | 0.21% | −0.30 |
| XBI SS SPDR S&P Biotech ETF | Reduce -2.3% | 1.59% | −0.26 |
| ACN Accenture PLC Class A | Reduce -0.9% | 4.56% | −0.23 |
| EOG EOG Resources Inc. | Reduce -3.2% | 2.67% | −0.20 |
| XOM Exxon Mobil Corp. | Reduce -0.2% | 1.21% | −0.16 |
| BDX Becton Dickinson and Co. | Reduce -7.5% | 0.79% | −0.15 |
| NKE Nike Inc. Class B | Reduce -4.9% | 0.50% | −0.14 |
| SYK Stryker Corp. | Reduce -1.1% | 2.62% | −0.13 |
| NXPI NXP Semiconductors NV | Reduce -3.4% | 0.51% | −0.12 |
| ORLY O'reilly Automotive Inc. | Reduce -2.5% | 3.53% | −0.12 |
| COST Costco Wholesale Corp. | Reduce -3.1% | 3.05% | −0.11 |
| SHW The Sherwin-Williams Co. | Reduce -14.3% | 0.30% | −0.11 |
| PG The Procter & Gamble Co. | Reduce -1.1% | 1.26% | −0.11 |
| MCHP Microchip Technology Inc. | Reduce -0.5% | 0.21% | −0.10 |
| TECH Bio-Techne Corp. | Reduce -10.2% | 0.19% | −0.05 |
| MKC McCormick & Co.-Non VTG SHRS | Reduce -0.5% | 0.34% | −0.04 |
| LLY Eli Lilly & Co. | Reduce -0.4% | 0.20% | −0.04 |
| UPS United Parcel Service Class B | Reduce -2.2% | 0.26% | −0.04 |
| IEX Idex Corp. | Reduce -3.6% | 0.35% | −0.04 |
| AME Ametek Inc. | Reduce -5.6% | 0.71% | −0.03 |
| CSGP Costar Group Inc. | Reduce -1.8% | 0.29% | −0.03 |
| YETI Yeti Holdings Inc. | Reduce -5.0% | 0.19% | −0.03 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.03 |
| RBC RBC Bearings Inc. | Reduce -2.6% | 0.43% | −0.03 |
| ABBV Abbvie Inc. | Reduce -1.9% | 0.16% | −0.03 |
| RMD Resmed Inc. | Reduce -2.0% | 0.21% | −0.03 |
| MCD McDonald's Corp. | Reduce -0.8% | 0.28% | −0.03 |
| ITW Illinois Tool Works | Sold out | 0.00% | −0.03 |
| DHR Danaher Corp. | Sold out | 0.00% | −0.03 |
| CARR Carrier Global Corp. | Sold out | 0.00% | −0.03 |
| INTC Intel Corp. | Reduce -26.3% | 0.04% | −0.02 |
| MELI MercadoLibre Inc. | Sold out | 0.00% | −0.02 |
| MDT Medtronic PLC | Reduce -18.5% | 0.05% | −0.02 |
| VTIP Vanguard Short-Term Tips | Reduce -4.0% | 0.20% | −0.02 |
| INFA Informatica Inc. Class A | Reduce -9.7% | 0.15% | −0.02 |
| VVV Valvoline Inc. | Reduce -1.9% | 0.08% | −0.02 |
| DVN Devon Energy Corp. | Reduce -4.4% | 0.06% | −0.02 |
| CHD Church & Dwight Co. Inc. | Reduce -2.1% | 0.27% | −0.02 |
| SBUX Starbucks Corp. | Reduce -11.9% | 0.06% | −0.02 |
| WFC Wells Fargo & Co. | Reduce -28.7% | 0.09% | −0.01 |
| CLX Clorox Company | Reduce -0.6% | 0.30% | −0.01 |
| SYY Sysco Corp. | Reduce -0.4% | 0.22% | −0.01 |
| IBM Intl Business Machines Corp. | Reduce -4.2% | 0.15% | −0.01 |
| AMAT Applied Materials Inc. | Reduce -9.6% | 0.03% | −0.01 |
| TROW T Rowe Price Group Inc. | Reduce -0.6% | 2.26% | −0.01 |
| PFE Pfizer Inc. | Reduce -4.4% | 0.05% | −0.01 |
| FUL H.B. Fuller Co. | Reduce -6.5% | 0.03% | −0.01 |
Portfolio Buys Q3 2024 → Q4 2024
| BLK BlackRock Inc. | New | 4.62% | +4.62 |
| MRVL Marvell Technology Inc. | Add +0.3% | 1.39% | +0.45 |
| FISV Fiserv Inc. | Add +0.5% | 1.46% | +0.14 |
| FHN First Horizon Corp. | New | 0.11% | +0.11 |
| DT Dynatrace Inc. | New | 0.08% | +0.08 |
| POOL Pool Corp. | New | 0.08% | +0.08 |
| AMZN Amazon.com Inc. | Add +0.8% | 0.35% | +0.04 |
| ROK Rockwell Automation Inc. | Add +3.5% | 0.60% | +0.04 |
| PR Permian Resources Corp. Class A | Add +55.5% | 0.09% | +0.04 |
| DECK Deckers Outdoor Corp. | New | 0.03% | +0.03 |
| CRM Salesforce Inc. | New | 0.02% | +0.02 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +1.7% | 0.35% | +0.02 |
| SCHB Schwab US Broad Market ETF | Add +4.9% | 0.39% | +0.01 |
| KMI Kinder Morgan Inc. | Add +0.2% | 0.08% | +0.01 |
| VOO Vanguard S&P 500 ETF | Add +45.1% | 0.04% | +0.01 |
| IWP iShares Russell Mid-Cap Grow | Add +11.3% | 0.07% | +0.01 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +14.6% | 0.08% | +0.01 |
| META Meta Platforms Inc. Class A | Add +3.6% | 0.15% | +0.00 |
| XLK SS Technology Select Sector | Add +0.9% | 0.82% | +0.00 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +2.4% | 0.15% | +0.00 |
| IDXX Idexx Laboratories Inc. | Add +31.9% | 0.03% | +0.00 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +0.1% | 0.04% | −0.00 |
| SCHO Schwab Short-Term US Treas | Add +1.8% | 0.03% | −0.00 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Add +0.5% | 0.03% | −0.00 |
| DGRO iShares Core Dividend Growth | Add +1.7% | 0.04% | −0.00 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +3.8% | 0.07% | −0.00 |
| VT Vanguard Tot World STK ETF | Add +0.1% | 0.05% | −0.00 |
| VXUS Vanguard Total Intl Stock | Add +0.3% | 0.03% | −0.00 |
| USMV iShares MSCI USA Min Vol Fac | Add +5.7% | 0.83% | −0.01 |
| XLE SS Energy Select Sector | Add +0.2% | 0.13% | −0.01 |
| ORCL Oracle Corp. | Add +0.0% | 0.18% | −0.01 |
| INTU Intuit Inc. | Add +0.5% | 0.57% | −0.01 |
| FSLR First Solar Inc. | Add +11.3% | 0.04% | −0.01 |
| VIG Vanguard Dividend Apprec ETF | Add +1.2% | 0.36% | −0.01 |
| RTX RTX Corp. | Add +0.5% | 0.19% | −0.02 |
| MRK Merck & Co. Inc. | Add +0.0% | 0.10% | −0.02 |
| CVX Chevron Corp. | Add +1.4% | 0.62% | −0.02 |
| KO The Coca-Cola Co. | Add +0.1% | 0.21% | −0.04 |
| RSP Invesco S&P 500 Equal Weight | Add +1.4% | 1.34% | −0.06 |
| ADI Analog Devices Inc. | Add +1.3% | 0.91% | −0.10 |
| ECL Ecolab Inc. | Add +0.3% | 0.98% | −0.12 |
| PEP Pepsico Inc. | Add +0.3% | 0.82% | −0.13 |
| HD Home Depot Inc. | Add +0.2% | 2.69% | −0.21 |
| JNJ Johnson & Johnson | Add +0.1% | 2.00% | −0.32 |
| EXPD Expeditors Intl Wash Inc. | Add +0.2% | 2.12% | −0.48 |
| TMO Thermo Fisher Scientific Inc. | Add +0.4% | 2.97% | −0.68 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 193 | $951.4M | AAPL, GOOG, MSFT, V, BLK |
| Q1 2026 | 184 | $867.4M | AAPL, GOOG, MSFT, BLK, ORLY |
| Q4 2025 | 185 | $904.5M | AAPL, MSFT, GOOG, BLK, V |
| Q3 2025 | 182 | $889.6M | MSFT, AAPL, BLK, GOOG, ORLY |
| Q2 2025 | 180 | $841.8M | MSFT, AAPL, BLK, V, ACN |
| Q1 2025 | 174 | $815.2M | AAPL, MSFT, V, BLK, ORLY |
| Q4 2024 | 178 | $856.6M | AAPL, MSFT, BLK, ACN, V |
| Q3 2024 | 177 | $826.2M | AAPL, MSFT, ACN, TMO, ORLY |
| Q2 2024 | 172 | $825.2M | AAPL, MSFT, ACN, GOOG, BLK |
| Q1 2024 | 176 | $840.1M | MSFT, AAPL, ACN, BLK, ORLY |