Richard W. Paul & Associates, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Richard W. Paul & Associates, LLC reported 336 stock positions worth $276.6 million. Its top holding was iShares Core S&P U.S. Value (IUSV) at 5.5% of the portfolio, followed by iShares Core S&P U.S. Growth (IUSG, 5.4%) and iShares Core U.S. Aggregate (AGG, 4.4%). Compared with Q1 2025, it opened 19 new positions, sold out of 18, added to 132 and reduced 118. The biggest buy was SS SPDR BB 1-3M T-Bill ETF (BIL, shares +95%) and the biggest sale iShares MSCI China ETF (MCHI, shares −44%).
- Most Recent 13F
- Q2 2026
- Location
- NOVI, MI
- CIK
- 0001964203
- Portfolio Value
- $276.6M (Q2 2025)
- SEC Filing
- 0001964203-25-000004 ↗ filed Aug 12, 2025
Holdings Value
Holdings 336 stocks · $276.6M
| IUSV iShares Core S&P U.S. Value | 5.54% | 161,976 | $15.3M | Add +0.5% |
| IUSG iShares Core S&P U.S. Growth | 5.41% | 99,410 | $15.0M | Reduce -0.9% |
| AGG iShares Core U.S. Aggregate | 4.41% | 123,041 | $12.2M | Add +2.3% |
| IJR iShares Core S&P Small-Cap E | 4.24% | 107,216 | $11.7M | Reduce -7.4% |
| TLT iShares 20+ Year Treasury BD | 3.88% | 121,594 | $10.7M | Add +5.7% |
| IEFA iShares Core MSCI Eafe ETF | 3.37% | 111,637 | $9.3M | Reduce -1.2% |
| JPIE JPMorgan Income ETF | 3.34% | 199,408 | $9.2M | Add +1.8% |
| RSP Invesco S&P 500 Equal Weight | 2.98% | 45,386 | $8.2M | Add +2.9% |
| QQQ Invesco QQQ Trust Series 1 | 2.51% | 12,580 | $6.9M | Reduce -21.0% |
| PYLD PIMCO Multisector Bond Actv | 2.05% | 213,595 | $5.7M | Add +2.3% |
| EFA iShares MSCI Eafe ETF | 1.98% | 61,265 | $5.5M | Reduce -5.1% |
| IEMG iShares Core MSCI Emerging | 1.85% | 85,093 | $5.1M | Reduce -0.7% |
| MSFT Microsoft Corp. | 1.68% | 9,349 | $4.7M | Add +0.5% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 1.67% | 50,432 | $4.6M | Add +95.2% |
| IVV iShares Core S&P 500 ETF | 1.49% | 6,626 | $4.1M | Reduce -1.5% |
| AAPL Apple Inc. | 1.39% | 18,746 | $3.8M | Add +4.0% |
| NVDA Nvidia Corp. | 1.29% | 22,627 | $3.6M | Reduce -0.1% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 1.21% | 72,177 | $3.3M | Reduce -1.3% |
| SCZ iShares MSCI Eafe Small-Cap | 1.16% | 43,993 | $3.2M | Reduce -0.9% |
| COIN Coinbase Global Inc. Class A | 1.11% | 8,772 | $3.1M | Reduce -1.1% |
| EEM iShares MSCI Emerging Market | 1.07% | 61,579 | $3.0M | Reduce -1.9% |
| IJH iShares Core S&P Midcap ETF | 1.06% | 47,158 | $2.9M | Add +3.9% |
| META Meta Platforms Inc. Class A | 0.89% | 3,320 | $2.5M | Reduce -0.8% |
| NFLX Netflix Inc. | 0.86% | 1,782 | $2.4M | Reduce -5.9% |
| IAGG iShares Intl Aggregate Bond | 0.79% | 42,889 | $2.2M | Reduce -1.1% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 0.78% | 39,838 | $2.2M | Add +6.5% |
| JEPI JPMorgan Equity Premium Inco | 0.76% | 36,961 | $2.1M | Add +3.2% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.73% | 25,208 | $2.0M | Add +81.1% |
| ISTB iShares Core 1-5 Year Usd Bo | 0.73% | 41,452 | $2.0M | Reduce -1.4% |
| AMZN Amazon.com Inc. | 0.71% | 9,002 | $2.0M | Add +0.3% |
| DSTL Distillate US Fundamental St | 0.71% | 35,291 | $2.0M | Add +1.5% |
| JPM JPMorgan Chase & Co. | 0.67% | 6,438 | $1.9M | Reduce -5.1% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.67% | 25,534 | $1.9M | Add +21.0% |
| MCHI iShares MSCI China ETF | 0.66% | 33,375 | $1.8M | Reduce -43.5% |
| AVGO Broadcom Inc. | 0.62% | 6,215 | $1.7M | Reduce -16.2% |
| FETH Fidelity Ethereum Fund | 0.59% | 65,374 | $1.6M | Add +35.4% |
| PYPL PayPal Holdings Inc. | 0.58% | 21,753 | $1.6M | Add +2.4% |
| QQEW First TR Nasdaq-100 Sel Eq | 0.58% | 11,771 | $1.6M | Reduce -1.4% |
| BABA Alibaba Group Holding-SP ADR | 0.55% | 13,461 | $1.5M | Reduce -1.6% |
| XLRE SS Real Estate Select Sector | 0.54% | 36,005 | $1.5M | Reduce -1.1% |
| ROKU Roku Inc. | 0.53% | 16,525 | $1.5M | Add +2.1% |
| ULTA Ulta Beauty Inc. | 0.51% | 2,990 | $1.4M | Add +0.8% |
| COST Costco Wholesale Corp. | 0.50% | 1,409 | $1.4M | Reduce -0.8% |
| GOOG Alphabet Inc. Class C | 0.50% | 7,851 | $1.4M | Add +1.5% |
| ABBV Abbvie Inc. | 0.49% | 7,372 | $1.4M | Reduce -2.7% |
| PM Philip Morris International | 0.49% | 7,412 | $1.3M | Reduce -25.4% |
| MU Micron Technology Inc. | 0.47% | 10,516 | $1.3M | Add +2.3% |
| QQQM Invesco Nasdaq 100 ETF | 0.46% | 5,561 | $1.3M | Add +32.1% |
| AMD Advanced Micro Devices | 0.46% | 8,875 | $1.3M | Add +5.8% |
| BOND PIMCO Active Bond Exchange-T | 0.45% | 13,553 | $1.2M | Add +1.4% |
| UNH Unitedhealth Group Inc. | 0.45% | 4,003 | $1.2M | Add +81.0% |
| VZ Verizon Communications Inc. | 0.45% | 28,732 | $1.2M | Reduce -0.6% |
| IWM iShares Russell 2000 ETF | 0.44% | 5,679 | $1.2M | Add +5.7% |
| HD Home Depot Inc. | 0.44% | 3,331 | $1.2M | Add +4.5% |
| STX Seagate Technology Holdings | 0.44% | 8,459 | $1.2M | Reduce -9.5% |
| ZTS Zoetis Inc. | 0.44% | 7,808 | $1.2M | Add +4.2% |
| XLV SS Health Care Select Sector | 0.44% | 8,983 | $1.2M | Add +2.3% |
| ORCL Oracle Corp. | 0.42% | 5,366 | $1.2M | Reduce -30.9% |
| XLK SS Technology Select Sector | 0.42% | 4,612 | $1.2M | Reduce -2.9% |
| CMG Chipotle Mexican Grill Inc. | 0.42% | 20,727 | $1.2M | Add +2.8% |
| FSLR First Solar Inc. | 0.41% | 6,884 | $1.1M | Add +2.1% |
| VRT Vertiv Holdings Co. Class A | 0.41% | 8,804 | $1.1M | Add +0.9% |
| INTU Intuit Inc. | 0.40% | 1,394 | $1.1M | Add +0.2% |
| CVS CVS Health Corp. | 0.40% | 15,910 | $1.1M | Reduce -1.1% |
| CIBR First Trust Nasdaq Cybersecu | 0.38% | 14,088 | $1.1M | Reduce -11.8% |
| JNK SS SPDR BB High Yield Bond | 0.37% | 10,623 | $1.0M | Add +100.5% |
| MA Mastercard Inc. Class A | 0.36% | 1,786 | $1.0M | Add +0.1% |
| T AT&T Inc. | 0.36% | 34,247 | $991K | Reduce -18.4% |
| MRK Merck & Co. Inc. | 0.35% | 12,256 | $970K | Add +43.5% |
| JAAA Janus Henderson Aaa Clo ETF | 0.35% | 19,029 | $966K | Reduce -1.2% |
| PFE Pfizer Inc. | 0.35% | 39,454 | $956K | Add +21.9% |
| LLY Eli Lilly & Co. | 0.35% | 1,225 | $955K | Add +5.2% |
| MO Altria Group Inc. | 0.34% | 16,070 | $942K | Reduce -10.3% |
| IBB iShares Biotechnology ETF | 0.33% | 7,289 | $922K | Add +8.3% |
| JNJ Johnson & Johnson | 0.33% | 6,031 | $921K | Reduce -2.6% |
| QCOM Qualcomm Inc. | 0.33% | 5,776 | $920K | Add +9.8% |
| UPS United Parcel Service Class B | 0.32% | 8,883 | $897K | Add +27.2% |
| VEA Vanguard Ftse Developed ETF | 0.32% | 15,584 | $888K | Reduce -3.4% |
| XLP SS Consumer Staples Sel Sect | 0.31% | 10,665 | $864K | Reduce -5.3% |
| PG The Procter & Gamble Co. | 0.31% | 5,419 | $863K | Add +2.0% |
| DHR Danaher Corp. | 0.31% | 4,362 | $862K | Add +6.1% |
| GOOGL Alphabet Inc. Class A | 0.31% | 4,863 | $857K | Reduce -0.1% |
| TGT Target Corp. | 0.31% | 8,682 | $856K | New |
| CSCO Cisco Systems Inc. | 0.30% | 12,049 | $836K | Reduce -25.9% |
| SBUX Starbucks Corp. | 0.30% | 9,083 | $832K | Reduce -8.5% |
| WMT Walmart Inc. | 0.29% | 8,299 | $811K | Reduce -17.2% |
| LULU Lululemon Athletica Inc. | 0.29% | 3,380 | $803K | Add +2.8% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.29% | 1,800 | $789K | Reduce -2.5% |
| ISRG Intuitive Surgical Inc. | 0.28% | 1,441 | $783K | Add +1.2% |
| ASML ASML Holding NV-NY Reg SHS | 0.28% | 964 | $773K | Add +8.9% |
| SPGI S&P Global Inc. | 0.27% | 1,439 | $759K | Add +1.7% |
| VIG Vanguard Dividend Apprec ETF | 0.27% | 3,632 | $743K | Reduce -4.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.27% | 1,189 | $735K | Add +13.8% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.26% | 4,026 | $712K | Reduce -1.3% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.25% | 10,947 | $691K | Reduce -21.2% |
| TXN Texas Instruments Inc. | 0.24% | 3,210 | $666K | Add +6.8% |
| XLSR SS US Sector Rotation | 0.24% | 12,002 | $659K | Reduce -5.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.24% | 13,870 | $656K | Reduce -3.9% |
| SHW The Sherwin-Williams Co. | 0.23% | 1,885 | $647K | Add +1.6% |
| PEP Pepsico Inc. | 0.23% | 4,871 | $643K | Add +6.6% |
Lines left out (1) · $2 — a value with no share or principal amount
| Security | Class | Shares | Value |
|---|---|---|---|
| BUZZ Vaneck Social Sentiment ETF | SOCIAL SENTIMENT | 0 | $2 |
Filed with a value but no share or principal amount (a cash line, a holding rounded to 0 shares), so they are kept out of the holdings, totals and percentages.
Total filed on the 13F, all lines: $276.6M.
Portfolio Sells Q1 2025 → Q2 2025
| MCHI iShares MSCI China ETF | Reduce -43.5% | 0.66% | −0.60 |
| IJR iShares Core S&P Small-Cap E | Reduce -7.4% | 4.24% | −0.51 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -21.0% | 2.51% | −0.42 |
| SHV iShares 0-1 Year Treasury Bo | Reduce -96.8% | 0.01% | −0.22 |
| BABA Alibaba Group Holding-SP ADR | Reduce -1.6% | 0.55% | −0.16 |
| DELL Dell Technologies -C | Reduce -98.5% | 0.00% | −0.14 |
| PM Philip Morris International | Reduce -25.4% | 0.49% | −0.13 |
| CRM Salesforce Inc. | Reduce -99.4% | 0.00% | −0.13 |
| SPDW Ste STR SPDR PT DW Eu ETF | Reduce -46.1% | 0.16% | −0.13 |
| ABBV Abbvie Inc. | Reduce -2.7% | 0.49% | −0.13 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Reduce -1.3% | 1.21% | −0.12 |
| T AT&T Inc. | Reduce -18.4% | 0.36% | −0.11 |
| XOM Exxon Mobil Corp. | Reduce -91.2% | 0.01% | −0.11 |
| CSCO Cisco Systems Inc. | Reduce -25.9% | 0.30% | −0.09 |
| EFA iShares MSCI Eafe ETF | Reduce -5.1% | 1.98% | −0.09 |
| JPST JPMorgan Ultra-Short Income | Reduce -97.6% | 0.00% | −0.09 |
| KO The Coca-Cola Co. | Reduce -20.1% | 0.23% | −0.09 |
| MINT PIMCO Enhanced Short Maturit | Reduce -97.1% | 0.00% | −0.09 |
| MO Altria Group Inc. | Reduce -10.3% | 0.34% | −0.08 |
| SBUX Starbucks Corp. | Reduce -8.5% | 0.30% | −0.08 |
| JNJ Johnson & Johnson | Reduce -2.6% | 0.33% | −0.07 |
| ISTB iShares Core 1-5 Year Usd Bo | Reduce -1.4% | 0.73% | −0.07 |
| VZ Verizon Communications Inc. | Reduce -0.6% | 0.45% | −0.06 |
| SPEM State Street SP PTF Em ETF | Reduce -26.0% | 0.17% | −0.06 |
| XLRE SS Real Estate Select Sector | Reduce -1.1% | 0.54% | −0.06 |
| IAGG iShares Intl Aggregate Bond | Reduce -1.1% | 0.79% | −0.06 |
| WMT Walmart Inc. | Reduce -17.2% | 0.29% | −0.05 |
| MCK McKesson Corp. | Reduce -25.5% | 0.15% | −0.05 |
| EMXC iShares MSCI Emr MRK Ex Chna | Reduce -21.2% | 0.25% | −0.05 |
| XLP SS Consumer Staples Sel Sect | Reduce -5.3% | 0.31% | −0.05 |
| MMM 3M Co. | Reduce -12.4% | 0.23% | −0.05 |
| SPEU State Street SPDR Portfolio | Reduce -95.0% | 0.00% | −0.04 |
| JAAA Janus Henderson Aaa Clo ETF | Reduce -1.2% | 0.35% | −0.03 |
| BSX Boston Scientific Corp. | Reduce -18.1% | 0.14% | −0.03 |
| CERY SS SPDR BBG En RY CM St N-Ui | Reduce -42.0% | 0.04% | −0.03 |
| CVS CVS Health Corp. | Reduce -1.1% | 0.40% | −0.03 |
| TMUS T-Mobile US Inc. | Reduce -0.1% | 0.13% | −0.03 |
| XLF SS Financial Select Sector | Reduce -12.1% | 0.15% | −0.03 |
| BNY Bank of New York Mellon Corp. | Reduce -11.6% | 0.18% | −0.02 |
| GPK Graphic Packaging Holding Co. | Reduce -0.3% | 0.07% | −0.02 |
| COST Costco Wholesale Corp. | Reduce -0.8% | 0.50% | −0.02 |
| VIG Vanguard Dividend Apprec ETF | Reduce -4.9% | 0.27% | −0.02 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -1.3% | 0.26% | −0.02 |
| LMT Lockheed Martin Corp. | Reduce -5.3% | 0.18% | −0.02 |
| IRM Iron Mountain Inc. | Reduce -21.6% | 0.10% | −0.02 |
| PPL PPL Corp. | Reduce -0.2% | 0.10% | −0.02 |
| XLSR SS US Sector Rotation | Reduce -5.8% | 0.24% | −0.02 |
| V Visa Inc. Class A | Reduce -0.4% | 0.20% | −0.01 |
| VYMI Vanguard Int High DVD YLD Inc. | Reduce -7.6% | 0.18% | −0.01 |
| KDP Keurig Dr Pepper Inc. | Reduce -0.2% | 0.10% | −0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +95.2% | 1.67% | +0.74 |
| MSFT Microsoft Corp. | Add +0.5% | 1.68% | +0.31 |
| TGT Target Corp. | New | 0.31% | +0.31 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +81.1% | 0.73% | +0.30 |
| FETH Fidelity Ethereum Fund | Add +35.4% | 0.59% | +0.25 |
| JNK SS SPDR BB High Yield Bond | Add +100.5% | 0.37% | +0.18 |
| VRT Vertiv Holdings Co. Class A | Add +0.9% | 0.41% | +0.16 |
| QQQM Invesco Nasdaq 100 ETF | Add +32.1% | 0.46% | +0.14 |
| EWW iShares MSCI Mexico ETF | New | 0.14% | +0.14 |
| SNPS Synopsys Inc. | New | 0.13% | +0.13 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +21.0% | 0.67% | +0.13 |
| ACN Accenture PLC Class A | Add +2563.0% | 0.13% | +0.13 |
| MU Micron Technology Inc. | Add +2.3% | 0.47% | +0.12 |
| AMD Advanced Micro Devices | Add +5.8% | 0.46% | +0.12 |
| FISR SS Fi Sector Rotation | Add +206.5% | 0.14% | +0.09 |
| LRCX Lam Research Corp. | Add +57.2% | 0.17% | +0.08 |
| ULTA Ulta Beauty Inc. | Add +0.8% | 0.51% | +0.08 |
| ROKU Roku Inc. | Add +2.1% | 0.53% | +0.08 |
| FSLR First Solar Inc. | Add +2.1% | 0.41% | +0.08 |
| SLB SLB Ltd. | Add +261.6% | 0.12% | +0.07 |
| INTU Intuit Inc. | Add +0.2% | 0.40% | +0.06 |
| ETHU 2X Ether ETF | New | 0.06% | +0.06 |
| RCL Royal Caribbean Cruises Ltd. | Add +0.2% | 0.19% | +0.06 |
| MRK Merck & Co. Inc. | Add +43.5% | 0.35% | +0.05 |
| IQV Iqvia Holdings Inc. | Add +93.2% | 0.13% | +0.05 |
| ASML ASML Holding NV-NY Reg SHS | Add +8.9% | 0.28% | +0.05 |
| AMZN Amazon.com Inc. | Add +0.3% | 0.71% | +0.04 |
| PYPL PayPal Holdings Inc. | Add +2.4% | 0.58% | +0.04 |
| IBKR Interactive Brokers Gro Class A | Add +1.4% | 0.20% | +0.04 |
| RWR SS SPDR Dow Jones REIT ETF | New | 0.04% | +0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +13.8% | 0.27% | +0.04 |
| SJNK SS SPDR BB St Hi Yield ETF | Add +96.4% | 0.07% | +0.03 |
| ADBE Adobe Inc. | Add +39.6% | 0.13% | +0.03 |
| GOOG Alphabet Inc. Class C | Add +1.5% | 0.50% | +0.03 |
| TXN Texas Instruments Inc. | Add +6.8% | 0.24% | +0.03 |
| WDAY Workday Inc. Class A | Add +36.3% | 0.13% | +0.03 |
| PFE Pfizer Inc. | Add +21.9% | 0.35% | +0.02 |
| JEPQ JPM Nasdaq Equity Premium | Add +6.5% | 0.78% | +0.02 |
| CMG Chipotle Mexican Grill Inc. | Add +2.8% | 0.42% | +0.02 |
| UPS United Parcel Service Class B | Add +27.2% | 0.32% | +0.02 |
| IWM iShares Russell 2000 ETF | Add +5.7% | 0.44% | +0.02 |
| IJH iShares Core S&P Midcap ETF | Add +3.9% | 1.06% | +0.02 |
| QCOM Qualcomm Inc. | Add +9.8% | 0.33% | +0.02 |
| LHX L3HARRIS Technologies Inc. | Add +0.7% | 0.14% | +0.01 |
| RWX State Street SPDR Dow Jones | New | 0.01% | +0.01 |
| GLPI Gaming and Leisure Propertie | Add +38.2% | 0.08% | +0.01 |
| SPSM SS SPDR P S&P 600 Small Cap | Add +12.9% | 0.13% | +0.01 |
| BTI British American Tob-SP ADR | New | 0.01% | +0.01 |
| ISRG Intuitive Surgical Inc. | Add +1.2% | 0.28% | +0.01 |
| ETHA iShares Ethereum Trust ETF | Add +8.1% | 0.02% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 319 | $327.0M | IUSV, IUSG, TLT, JPIE, IEFA |
| Q1 2026 | 299 | $297.1M | IUSV, IUSG, TLT, JPIE, IEFA |
| Q4 2025 | 293 | $301.2M | IUSV, IUSG, AGG, IJR, TLT |
| Q3 2025 | 315 | $292.9M | IUSV, IUSG, IJR, AGG, TLT |
| Q2 2025 | 336 | $276.6M | IUSV, IUSG, AGG, IJR, TLT |
| Q1 2025 | 335 | $255.0M | IUSV, IUSG, IJR, AGG, TLT |
| Q4 2024 | 512 | $274.5M | IUSV, IUSG, IJR, AGG, TLT |
| Q3 2024 | 504 | $278.4M | IUSV, IUSG, IJR, AGG, TLT |
| Q2 2024 | 495 | $259.1M | IUSG, IUSV, IJR, AGG, TLT |
| Q1 2024 | 511 | $250.5M | IUSV, IUSG, IJR, AGG, TLT |