L. Roy Papp & Associates, LLP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 14, 2026), L. Roy Papp & Associates, LLP reported 184 stock positions worth $867.4 million. Its top holding was Apple (AAPL) at 6.6% of the portfolio, followed by Alphabet Class C (GOOG, 5.2%) and Microsoft (MSFT, 5.0%). Compared with Q4 2025, it opened 6 new positions, sold out of 7, added to 60 and reduced 67. The biggest buy was Schwab Short-Term US Treas (SCHO, shares +168%) and the biggest sale Microsoft (MSFT, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- Phoenix, AZ
- CIK
- 0000809339
- Portfolio Value
- $867.4M (Q1 2026)
- SEC Filing
- 0002085853-26-000370 ↗ filed Apr 14, 2026
Holdings Value
Holdings 184 stocks · $867.4M
| AAPL Apple Inc. | 6.65% | 227,124 | $57.6M | Reduce -2.9% |
| GOOG Alphabet Inc. Class C | 5.17% | 156,202 | $44.8M | Reduce -7.1% |
| MSFT Microsoft Corp. | 5.00% | 117,221 | $43.4M | Reduce -0.1% |
| BLK BlackRock Inc. | 3.99% | 36,017 | $34.6M | Reduce -1.2% |
| ORLY O'reilly Automotive Inc. | 3.54% | 332,865 | $30.7M | Reduce -2.7% |
| V Visa Inc. Class A | 3.53% | 101,168 | $30.6M | Reduce -0.3% |
| JNJ Johnson & Johnson | 3.30% | 117,203 | $28.6M | Reduce -1.0% |
| GOOGL Alphabet Inc. Class A | 3.25% | 98,138 | $28.2M | Reduce -7.9% |
| EOG EOG Resources Inc. | 3.00% | 179,961 | $26.0M | Reduce -1.6% |
| TMO Thermo Fisher Scientific Inc. | 2.88% | 50,802 | $25.0M | Reduce -1.4% |
| COST Costco Wholesale Corp. | 2.74% | 23,840 | $23.8M | Reduce -3.2% |
| EXPD Expeditors Intl Wash Inc. | 2.65% | 160,765 | $23.0M | Reduce -1.4% |
| ACN Accenture PLC Class A | 2.55% | 111,449 | $22.1M | Reduce -0.9% |
| SYK Stryker Corp. | 2.48% | 65,547 | $21.5M | Add +1.3% |
| HD Home Depot Inc. | 2.36% | 62,153 | $20.4M | Add +0.2% |
| XBI SS SPDR S&P Biotech ETF | 1.97% | 133,599 | $17.1M | Reduce -1.9% |
| XOM Exxon Mobil Corp. | 1.76% | 90,103 | $15.3M | Add +0.2% |
| RSP Invesco S&P 500 Equal Weight | 1.56% | 70,473 | $13.5M | Add +8.6% |
| CNI Canadian Natl Railway Co. | 1.56% | 131,499 | $13.5M | Reduce -0.2% |
| MTD Mettler-Toledo International | 1.52% | 10,450 | $13.2M | Reduce -1.7% |
| MA Mastercard Inc. Class A | 1.46% | 25,291 | $12.6M | Reduce -0.7% |
| MRVL Marvell Technology Inc. | 1.40% | 122,813 | $12.2M | Add +1.6% |
| ADI Analog Devices Inc. | 1.35% | 36,789 | $11.7M | Reduce -4.7% |
| SCHO Schwab Short-Term US Treas | 1.32% | 472,480 | $11.5M | Add +168.4% |
| AME Ametek Inc. | 1.15% | 46,717 | $10.0M | Add +3.0% |
| PG The Procter & Gamble Co. | 1.10% | 66,249 | $9.6M | Add +0.0% |
| ECL Ecolab Inc. | 1.08% | 35,254 | $9.4M | Reduce -3.3% |
| JPM JPMorgan Chase & Co. | 1.04% | 30,799 | $9.1M | Add +16.7% |
| XLK SS Technology Select Sector | 0.97% | 63,362 | $8.4M | Add +2.0% |
| ROK Rockwell Automation Inc. | 0.93% | 22,376 | $8.0M | Reduce -0.4% |
| CVX Chevron Corp. | 0.89% | 37,165 | $7.7M | Add +0.4% |
| PEP Pepsico Inc. | 0.87% | 48,823 | $7.6M | Reduce -0.9% |
| USMV iShares MSCI USA Min Vol Fac | 0.84% | 78,980 | $7.3M | Reduce -0.1% |
| EMR Emerson Electric Co. | 0.82% | 54,279 | $7.1M | Add +0.1% |
| NVDA Nvidia Corp. | 0.78% | 38,566 | $6.7M | Reduce -0.2% |
| WY Weyerhaeuser Co. | 0.77% | 272,920 | $6.7M | No change |
| VMI Valmont Industries | 0.69% | 14,951 | $6.0M | Add +3.1% |
| RBC RBC Bearings Inc. | 0.65% | 10,457 | $5.7M | Reduce -14.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.64% | 11,552 | $5.5M | Add +2.3% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.61% | 100,135 | $5.3M | Add +48.1% |
| TRMB Trimble Inc. | 0.59% | 77,991 | $5.1M | Add +0.2% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 0.58% | 55,784 | $5.0M | Reduce -18.2% |
| WCN Waste Connections Inc. | 0.51% | 27,178 | $4.4M | No change |
| RMD Resmed Inc. | 0.47% | 18,069 | $4.1M | Add +9.5% |
| LIN Linde PLC | 0.46% | 8,113 | $4.0M | Add +228.5% |
| NXPI NXP Semiconductors NV | 0.44% | 19,528 | $3.8M | Reduce -4.7% |
| CAT Caterpillar Inc. | 0.42% | 5,117 | $3.6M | Reduce -0.0% |
| VIG Vanguard Dividend Apprec ETF | 0.42% | 16,745 | $3.6M | Add +0.5% |
| SCHB Schwab US Broad Market ETF | 0.40% | 138,988 | $3.5M | Reduce -2.4% |
| FDS Factset Research Systems Inc. | 0.38% | 15,381 | $3.3M | Reduce -12.5% |
| INTU Intuit Inc. | 0.38% | 7,676 | $3.3M | Reduce -5.5% |
| WM Waste Management Inc. | 0.35% | 13,312 | $3.1M | Add +0.8% |
| VGT Vanguard Info Tech ETF | 0.35% | 4,374 | $3.1M | No change |
| RTX RTX Corp. | 0.34% | 15,304 | $3.0M | Add +9.1% |
| MCD McDonald's Corp. | 0.33% | 9,098 | $2.8M | Add +11.4% |
| AMZN Amazon.com Inc. | 0.31% | 12,799 | $2.7M | Add +0.4% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.30% | 5,898 | $2.6M | Reduce -2.4% |
| IEX Idex Corp. | 0.29% | 13,289 | $2.5M | Reduce -0.9% |
| VTI VG Morningstar TS MKT ETF-US | 0.29% | 7,724 | $2.5M | Reduce -3.4% |
| CSCO Cisco Systems Inc. | 0.28% | 30,895 | $2.4M | Add +0.3% |
| EPD Enterprise Products Partners | 0.27% | 61,858 | $2.3M | Add +0.0% |
| KO The Coca-Cola Co. | 0.26% | 30,035 | $2.3M | Add +3.6% |
| AMGN Amgen Inc. | 0.26% | 6,457 | $2.3M | No change |
| SHW The Sherwin-Williams Co. | 0.25% | 6,725 | $2.2M | Reduce -3.4% |
| WMT Walmart Inc. | 0.25% | 17,148 | $2.1M | Add +0.8% |
| PR Permian Resources Corp. Class A | 0.24% | 97,495 | $2.1M | Add +1.3% |
| ADP Automatic Data Processing | 0.22% | 9,602 | $2.0M | No change |
| YETI Yeti Holdings Inc. filed as YETI HLDGS INC | 0.22% | 53,100 | $1.9M | Add +0.0% |
| CHD Church & Dwight Co. Inc. | 0.22% | 20,540 | $1.9M | Reduce -0.9% |
| MKC McCormick & Co.-Non VTG SHRS | 0.22% | 37,402 | $1.9M | Reduce -1.7% |
| PEGA Pegasystems Inc. | 0.22% | 44,073 | $1.9M | Reduce -0.8% |
| ADBE Adobe Inc. | 0.22% | 7,678 | $1.9M | Reduce -1.1% |
| XLE SS Energy Select Sector | 0.21% | 30,303 | $1.9M | Add +1.4% |
| MCHP Microchip Technology Inc. | 0.21% | 28,052 | $1.8M | Add +0.1% |
| SLAB Silicon Laboratories Inc. | 0.21% | 8,575 | $1.8M | Reduce -0.9% |
| VTIP Vanguard Short-Term Tips | 0.20% | 34,697 | $1.7M | No change |
| TECH Bio-Techne Corp. | 0.20% | 32,741 | $1.7M | Add +0.0% |
| SYY Sysco Corp. | 0.20% | 23,960 | $1.7M | Reduce -0.7% |
| ABBV Abbvie Inc. | 0.19% | 7,612 | $1.7M | Add +1.5% |
| AXP American Express Co. | 0.17% | 4,779 | $1.4M | No change |
| STT State Street Corp. | 0.16% | 11,277 | $1.4M | Add +3.7% |
| CL Colgate-Palmolive Co. | 0.16% | 16,643 | $1.4M | No change |
| CLX Clorox Company | 0.16% | 13,687 | $1.4M | Add +0.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.16% | 2,154 | $1.4M | Add +8.6% |
| LLY Eli Lilly & Co. | 0.16% | 1,517 | $1.4M | No change |
| CSGP Costar Group Inc. | 0.15% | 32,889 | $1.3M | Reduce -1.1% |
| NKE Nike Inc. Class B | 0.15% | 24,728 | $1.3M | Reduce -14.3% |
| SLV iShares Silver Trust | 0.15% | 19,000 | $1.3M | No change |
| DT Dynatrace Inc. | 0.15% | 34,375 | $1.3M | Add +16.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.14% | 5,143 | $1.2M | Add +0.4% |
| KMI Kinder Morgan Inc. | 0.14% | 35,794 | $1.2M | Add +1.1% |
| EGP Eastgroup Properties Inc. | 0.14% | 6,378 | $1.2M | No change |
| ORCL Oracle Corp. | 0.13% | 7,906 | $1.2M | Reduce -6.1% |
| SNPS Synopsys Inc. | 0.13% | 2,835 | $1.1M | Reduce -0.9% |
| MRK Merck & Co. Inc. | 0.12% | 8,826 | $1.1M | Add +0.6% |
| META Meta Platforms Inc. Class A | 0.11% | 1,711 | $979K | No change |
| VVV Valvoline Inc. | 0.11% | 28,780 | $969K | Reduce -0.9% |
| TSLA Tesla Inc. | 0.10% | 2,448 | $910K | Add +0.4% |
| GLD SPDR Gold Shares | 0.10% | 2,055 | $884K | Add +0.8% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.10% | 10,975 | $870K | Reduce -7.8% |
Portfolio Sells Q4 2025 → Q1 2026
| MSFT Microsoft Corp. | Reduce -0.1% | 5.00% | −1.27 |
| ACN Accenture PLC Class A | Reduce -0.9% | 2.55% | −0.79 |
| GOOG Alphabet Inc. Class C | Reduce -7.1% | 5.17% | −0.67 |
| GOOGL Alphabet Inc. Class A | Reduce -7.9% | 3.25% | −0.43 |
| TMO Thermo Fisher Scientific Inc. | Reduce -1.4% | 2.88% | −0.42 |
| V Visa Inc. Class A | Reduce -0.3% | 3.53% | −0.41 |
| AAPL Apple Inc. | Reduce -2.9% | 6.65% | −0.39 |
| BLK BlackRock Inc. | Reduce -1.2% | 3.99% | −0.32 |
| INTU Intuit Inc. | Reduce -5.5% | 0.38% | −0.21 |
| TROW T Rowe Price Group Inc. | Reduce -18.2% | 0.58% | −0.19 |
| FDS Factset Research Systems Inc. | Reduce -12.5% | 0.38% | −0.18 |
| MA Mastercard Inc. Class A | Reduce -0.7% | 1.46% | −0.15 |
| MTD Mettler-Toledo International | Reduce -1.7% | 1.52% | −0.12 |
| STIP iShares 0-5 Year Tips Bond E | Sold out | 0.00% | −0.11 |
| CSGP Costar Group Inc. | Reduce -1.1% | 0.15% | −0.09 |
| ADBE Adobe Inc. | Reduce -1.1% | 0.22% | −0.09 |
| PEGA Pegasystems Inc. | Reduce -0.8% | 0.22% | −0.08 |
| MKC McCormick & Co.-Non VTG SHRS | Reduce -1.7% | 0.22% | −0.07 |
| FHN First Horizon Corp. | Sold out | 0.00% | −0.06 |
| NKE Nike Inc. Class B | Reduce -14.3% | 0.15% | −0.05 |
| NXPI NXP Semiconductors NV | Reduce -4.7% | 0.44% | −0.05 |
| ICLR Icon PLC | Reduce -47.5% | 0.02% | −0.05 |
| ORCL Oracle Corp. | Reduce -6.1% | 0.13% | −0.05 |
| FISV Fiserv Inc. | Reduce -55.7% | 0.03% | −0.05 |
| ITOT iShares Core S&P Total U.S. | Sold out | 0.00% | −0.04 |
| ROK Rockwell Automation Inc. | Reduce -0.4% | 0.93% | −0.04 |
| UPS United Parcel Service Class B | Sold out | 0.00% | −0.03 |
| EXPD Expeditors Intl Wash Inc. | Reduce -1.4% | 2.65% | −0.03 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -2.4% | 0.30% | −0.03 |
| COF Capital One Financial Corp. | Sold out | 0.00% | −0.03 |
| BBSI Barrett Business SVCS Inc. | Sold out | 0.00% | −0.02 |
| MELI MercadoLibre Inc. | Sold out | 0.00% | −0.02 |
| NVDA Nvidia Corp. | Reduce -0.2% | 0.78% | −0.02 |
| ABT Abbott Laboratories | Reduce -4.7% | 0.09% | −0.02 |
| IQV Iqvia Holdings Inc. | Reduce -7.2% | 0.05% | −0.02 |
| SNPS Synopsys Inc. | Reduce -0.9% | 0.13% | −0.02 |
| SCHB Schwab US Broad Market ETF | Reduce -2.4% | 0.40% | −0.01 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -3.4% | 0.29% | −0.01 |
| BDX Becton Dickinson and Co. | Reduce -4.1% | 0.04% | −0.01 |
| SCHX Schwab US Large-Cap ETF | Reduce -9.3% | 0.08% | −0.01 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -16.0% | 0.07% | −0.01 |
| SCHG Schwab US Large-Cap Growth | Reduce -2.0% | 0.07% | −0.01 |
| IVV iShares Core S&P 500 ETF | Reduce -6.5% | 0.08% | −0.01 |
| POOL Pool Corp. | Reduce -0.7% | 0.06% | −0.01 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -7.8% | 0.10% | −0.00 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -1.4% | 0.06% | −0.00 |
| AZO AutoZone Inc. | Reduce -6.7% | 0.03% | −0.00 |
| VOO Vanguard S&P 500 ETF | Reduce -1.8% | 0.04% | −0.00 |
| SHW The Sherwin-Williams Co. | Reduce -3.4% | 0.25% | −0.00 |
| AMAT Applied Materials Inc. | Reduce -28.7% | 0.06% | −0.00 |
Portfolio Buys Q4 2025 → Q1 2026
| SCHO Schwab Short-Term US Treas | Add +168.4% | 1.32% | +0.85 |
| XOM Exxon Mobil Corp. | Add +0.2% | 1.76% | +0.57 |
| LIN Linde PLC | Add +228.5% | 0.46% | +0.35 |
| MRVL Marvell Technology Inc. | Add +1.6% | 1.40% | +0.27 |
| CVX Chevron Corp. | Add +0.4% | 0.89% | +0.26 |
| IGSB iShares 1-5Y Inv Grade Corp. | Add +48.1% | 0.61% | +0.21 |
| RSP Invesco S&P 500 Equal Weight | Add +8.6% | 1.56% | +0.19 |
| AME Ametek Inc. | Add +3.0% | 1.15% | +0.12 |
| JPM JPMorgan Chase & Co. | Add +16.7% | 1.04% | +0.10 |
| PR Permian Resources Corp. Class A | Add +1.3% | 0.24% | +0.09 |
| XLE SS Energy Select Sector | Add +1.4% | 0.21% | +0.07 |
| VSDM Vanguard Short Tax-Ex Bond | New | 0.06% | +0.06 |
| RTX RTX Corp. | Add +9.1% | 0.34% | +0.06 |
| PG The Procter & Gamble Co. | Add +0.0% | 1.10% | +0.05 |
| EPD Enterprise Products Partners | Add +0.0% | 0.27% | +0.05 |
| MCD McDonald's Corp. | Add +11.4% | 0.33% | +0.05 |
| VMI Valmont Industries | Add +3.1% | 0.69% | +0.04 |
| KO The Coca-Cola Co. | Add +3.6% | 0.26% | +0.04 |
| NOC Northrop Grumman Corp. | Add +92.6% | 0.07% | +0.04 |
| WMT Walmart Inc. | Add +0.8% | 0.25% | +0.04 |
| WM Waste Management Inc. | Add +0.8% | 0.35% | +0.03 |
| KMI Kinder Morgan Inc. | Add +1.1% | 0.14% | +0.03 |
| GWW WW Grainger Inc. | Add +37.4% | 0.09% | +0.03 |
| PSX Phillips 66 | New | 0.03% | +0.03 |
| RMD Resmed Inc. | Add +9.5% | 0.47% | +0.03 |
| SUB iShares Short-Term National | Add +37.4% | 0.09% | +0.03 |
| EMR Emerson Electric Co. | Add +0.1% | 0.82% | +0.02 |
| NFLX Netflix Inc. | New | 0.02% | +0.02 |
| APD Air Products & Chemicals Inc. | New | 0.02% | +0.02 |
| AEM Agnico Eagle Mines Ltd. | New | 0.02% | +0.02 |
| STRL Sterling Infrastructure Inc. | New | 0.02% | +0.02 |
| MRK Merck & Co. Inc. | Add +0.6% | 0.12% | +0.02 |
| NEE Nextera Energy Inc. | Add +20.7% | 0.06% | +0.02 |
| INTC Intel Corp. | Add +3.5% | 0.08% | +0.02 |
| CSX CSX Corp. | Add +22.6% | 0.05% | +0.02 |
| CSCO Cisco Systems Inc. | Add +0.3% | 0.28% | +0.01 |
| GLD SPDR Gold Shares | Add +0.8% | 0.10% | +0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +8.6% | 0.16% | +0.01 |
| CLX Clorox Company | Add +0.5% | 0.16% | +0.01 |
| MCHP Microchip Technology Inc. | Add +0.1% | 0.21% | +0.01 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +2.3% | 0.64% | +0.01 |
| VIG Vanguard Dividend Apprec ETF | Add +0.5% | 0.42% | +0.01 |
| STT State Street Corp. | Add +3.7% | 0.16% | +0.01 |
| DUK Duke Energy Corp. | Add +10.0% | 0.04% | +0.01 |
| BMY Bristol-Myers Squibb Co. | Add +0.9% | 0.06% | +0.01 |
| UNP Union Pacific Corp. | Add +14.2% | 0.04% | +0.01 |
| PFE Pfizer Inc. | Add +0.9% | 0.04% | +0.01 |
| QYLD Global X Nasd 100 Cov Call | Add +16.8% | 0.03% | +0.01 |
| DT Dynatrace Inc. | Add +16.0% | 0.15% | +0.00 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +0.1% | 0.10% | +0.00 |
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 |