Richard W. Paul & Associates, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Richard W. Paul & Associates, LLC reported 315 stock positions worth $292.9 million. Its top holding was iShares Core S&P U.S. Value (IUSV) at 5.6% of the portfolio, followed by iShares Core S&P U.S. Growth (IUSG, 5.6%) and iShares Core S&P Small-Cap E (IJR, 4.4%). Compared with Q2 2025, it opened 16 new positions, sold out of 37, added to 114 and reduced 129. The biggest buy was a new position in Align Technology (ALGN) and the biggest sale Chipotle Mexican Grill (CMG, shares −100%).
- Most Recent 13F
- Q2 2026
- Location
- NOVI, MI
- CIK
- 0001964203
- Portfolio Value
- $292.9M (Q3 2025)
- SEC Filing
- 0001964203-25-000005 ↗ filed Nov 13, 2025
Holdings Value
Holdings 315 stocks · $292.9M
| IUSV iShares Core S&P U.S. Value | 5.62% | 164,818 | $16.5M | Add +1.8% |
| IUSG iShares Core S&P U.S. Growth | 5.59% | 99,604 | $16.4M | Add +0.2% |
| IJR iShares Core S&P Small-Cap E | 4.40% | 108,592 | $12.9M | Add +1.3% |
| AGG iShares Core U.S. Aggregate | 4.33% | 126,535 | $12.7M | Add +2.8% |
| TLT iShares 20+ Year Treasury BD | 3.79% | 124,333 | $11.1M | Add +2.3% |
| IEFA iShares Core MSCI Eafe ETF | 3.36% | 112,834 | $9.9M | Add +1.1% |
| JPIE JPMorgan Income ETF | 3.29% | 207,837 | $9.6M | Add +4.2% |
| RSP Invesco S&P 500 Equal Weight | 2.97% | 45,846 | $8.7M | Add +1.0% |
| QQQ Invesco QQQ Trust Series 1 | 2.58% | 12,595 | $7.6M | Add +0.1% |
| PYLD PIMCO Multisector Bond Actv | 2.00% | 217,955 | $5.8M | Add +2.0% |
| EFA iShares MSCI Eafe ETF | 1.99% | 62,582 | $5.8M | Add +2.1% |
| IEMG iShares Core MSCI Emerging | 1.93% | 85,851 | $5.7M | Add +0.9% |
| AAPL Apple Inc. | 1.69% | 19,491 | $5.0M | Add +4.0% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 1.62% | 51,870 | $4.8M | Add +2.9% |
| MSFT Microsoft Corp. | 1.59% | 9,005 | $4.7M | Reduce -3.7% |
| IVV iShares Core S&P 500 ETF | 1.53% | 6,685 | $4.5M | Add +0.9% |
| NVDA Nvidia Corp. | 1.30% | 20,337 | $3.8M | Reduce -10.1% |
| SCZ iShares MSCI Eafe Small-Cap | 1.16% | 44,437 | $3.4M | Add +1.0% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 1.16% | 72,525 | $3.4M | Add +0.5% |
| EEM iShares MSCI Emerging Market | 1.13% | 62,222 | $3.3M | Add +1.0% |
| IJH iShares Core S&P Midcap ETF | 1.07% | 47,960 | $3.1M | Add +1.7% |
| FETH Fidelity Ethereum Fund | 0.87% | 61,319 | $2.5M | Reduce -6.2% |
| GOOG Alphabet Inc. Class C | 0.85% | 10,249 | $2.5M | Add +30.5% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 0.80% | 40,674 | $2.3M | Add +2.1% |
| BABA Alibaba Group Holding-SP ADR | 0.79% | 12,868 | $2.3M | Reduce -4.4% |
| MCHI iShares MSCI China ETF | 0.75% | 33,501 | $2.2M | Add +0.4% |
| IAGG iShares Intl Aggregate Bond | 0.75% | 42,985 | $2.2M | Add +0.2% |
| JEPI JPMorgan Equity Premium Inco | 0.74% | 38,016 | $2.2M | Add +2.9% |
| COIN Coinbase Global Inc. Class A | 0.73% | 6,364 | $2.1M | Reduce -27.4% |
| META Meta Platforms Inc. Class A | 0.72% | 2,860 | $2.1M | Reduce -13.9% |
| DSTL Distillate US Fundamental St | 0.71% | 36,107 | $2.1M | Add +2.3% |
| ISTB iShares Core 1-5 Year Usd Bo | 0.69% | 41,624 | $2.0M | Add +0.4% |
| JPM JPMorgan Chase & Co. | 0.68% | 6,293 | $2.0M | Reduce -2.3% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.66% | 23,925 | $1.9M | Reduce -5.1% |
| AMZN Amazon.com Inc. | 0.64% | 8,530 | $1.9M | Reduce -5.2% |
| AVGO Broadcom Inc. | 0.61% | 5,457 | $1.8M | Reduce -12.2% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.58% | 21,786 | $1.7M | Reduce -14.7% |
| PYPL PayPal Holdings Inc. | 0.57% | 24,791 | $1.7M | Add +14.0% |
| UNH Unitedhealth Group Inc. | 0.56% | 4,790 | $1.7M | Add +19.7% |
| ABBV Abbvie Inc. | 0.56% | 7,127 | $1.7M | Reduce -3.3% |
| QQEW First TR Nasdaq-100 Sel Eq | 0.55% | 11,514 | $1.6M | Reduce -2.2% |
| MU Micron Technology Inc. | 0.55% | 9,627 | $1.6M | Reduce -8.4% |
| NFLX Netflix Inc. | 0.54% | 1,312 | $1.6M | Reduce -26.4% |
| XLRE SS Real Estate Select Sector | 0.53% | 37,084 | $1.6M | Add +3.0% |
| ALGN Align Technology Inc. | 0.53% | 12,348 | $1.5M | New |
| ULTA Ulta Beauty Inc. | 0.52% | 2,778 | $1.5M | Reduce -7.1% |
| STX Seagate Technology Holdings | 0.51% | 6,372 | $1.5M | Reduce -24.7% |
| ROKU Roku Inc. | 0.51% | 14,960 | $1.5M | Reduce -9.5% |
| FSLR First Solar Inc. | 0.50% | 6,674 | $1.5M | Reduce -3.0% |
| BOND PIMCO Active Bond Exchange-T | 0.50% | 15,714 | $1.5M | Add +15.9% |
| ASML ASML Holding NV-NY Reg SHS | 0.50% | 1,499 | $1.5M | Add +55.5% |
| VZ Verizon Communications Inc. | 0.46% | 30,830 | $1.4M | Add +7.3% |
| COST Costco Wholesale Corp. | 0.46% | 1,458 | $1.3M | Add +3.5% |
| VRT Vertiv Holdings Co. Class A | 0.45% | 8,775 | $1.3M | Reduce -0.3% |
| AMD Advanced Micro Devices | 0.45% | 8,140 | $1.3M | Reduce -8.3% |
| QQQM Invesco Nasdaq 100 ETF | 0.45% | 5,326 | $1.3M | Reduce -4.2% |
| IWM iShares Russell 2000 ETF | 0.45% | 5,414 | $1.3M | Reduce -4.7% |
| PM Philip Morris International | 0.44% | 7,974 | $1.3M | Add +7.6% |
| UPS United Parcel Service Class B | 0.43% | 15,167 | $1.3M | Add +70.7% |
| XLK SS Technology Select Sector | 0.42% | 4,379 | $1.2M | Reduce -5.0% |
| DHR Danaher Corp. | 0.41% | 6,008 | $1.2M | Add +37.7% |
| XLV SS Health Care Select Sector | 0.40% | 8,502 | $1.2M | Reduce -5.3% |
| GOOGL Alphabet Inc. Class A | 0.40% | 4,852 | $1.2M | Reduce -0.2% |
| CVS CVS Health Corp. | 0.39% | 15,295 | $1.2M | Reduce -3.9% |
| ORCL Oracle Corp. | 0.39% | 4,019 | $1.1M | Reduce -25.1% |
| HD Home Depot Inc. | 0.38% | 2,754 | $1.1M | Reduce -17.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.38% | 1,669 | $1.1M | Add +40.4% |
| CIBR First Trust Nasdaq Cybersecu | 0.37% | 14,393 | $1.1M | Add +2.2% |
| IBB iShares Biotechnology ETF | 0.37% | 7,457 | $1.1M | Add +2.3% |
| MA Mastercard Inc. Class A | 0.37% | 1,891 | $1.1M | Add +5.9% |
| LLY Eli Lilly & Co. | 0.36% | 1,398 | $1.1M | Add +14.1% |
| JNJ Johnson & Johnson | 0.36% | 5,671 | $1.1M | Reduce -6.0% |
| JNK SS SPDR BB High Yield Bond | 0.36% | 10,679 | $1.0M | Add +0.5% |
| MO Altria Group Inc. | 0.34% | 15,228 | $1.0M | Reduce -5.2% |
| MRK Merck & Co. Inc. | 0.34% | 11,967 | $1.0M | Reduce -2.4% |
| QCOM Qualcomm Inc. | 0.34% | 6,014 | $1.0M | Add +4.1% |
| T AT&T Inc. | 0.34% | 35,081 | $991K | Add +2.4% |
| PFE Pfizer Inc. | 0.34% | 38,760 | $988K | Reduce -1.8% |
| JAAA Janus Henderson Aaa Clo ETF | 0.33% | 19,076 | $969K | Add +0.3% |
| ZTS Zoetis Inc. | 0.32% | 6,465 | $946K | Reduce -17.2% |
| INTU Intuit Inc. | 0.32% | 1,381 | $943K | Reduce -0.9% |
| VEA Vanguard Ftse Developed ETF | 0.32% | 15,595 | $934K | Add +0.1% |
| PG The Procter & Gamble Co. | 0.32% | 6,054 | $930K | Add +11.7% |
| LULU Lululemon Athletica Inc. | 0.30% | 5,007 | $891K | Add +48.1% |
| WMT Walmart Inc. | 0.29% | 8,385 | $864K | Add +1.0% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.29% | 1,792 | $859K | Reduce -0.4% |
| CSCO Cisco Systems Inc. | 0.29% | 12,251 | $838K | Add +1.7% |
| XLP SS Consumer Staples Sel Sect | 0.27% | 10,274 | $805K | Reduce -3.7% |
| TGT Target Corp. | 0.27% | 8,808 | $790K | Add +1.4% |
| VIG Vanguard Dividend Apprec ETF | 0.26% | 3,568 | $770K | Reduce -1.8% |
| SBUX Starbucks Corp. | 0.26% | 9,099 | $770K | Add +0.2% |
| SPGI S&P Global Inc. | 0.26% | 1,559 | $759K | Add +8.3% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.26% | 4,037 | $753K | Add +0.3% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.25% | 10,725 | $724K | Reduce -2.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.25% | 13,967 | $721K | Add +0.7% |
| ISRG Intuitive Surgical Inc. | 0.24% | 1,592 | $712K | Add +10.5% |
| XLSR SS US Sector Rotation | 0.24% | 11,797 | $703K | Reduce -1.7% |
| NEE Nextera Energy Inc. | 0.24% | 9,209 | $695K | Add +10.4% |
| SHW The Sherwin-Williams Co. | 0.24% | 1,989 | $689K | Add +5.5% |
| PEP Pepsico Inc. | 0.23% | 4,735 | $665K | Reduce -2.8% |
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: $292.9M.
Portfolio Sells Q2 2025 → Q3 2025
| CMG Chipotle Mexican Grill Inc. | Reduce -99.8% | 0.00% | −0.42 |
| COIN Coinbase Global Inc. Class A | Reduce -27.4% | 0.73% | −0.38 |
| NFLX Netflix Inc. | Reduce -26.4% | 0.54% | −0.33 |
| RCL Royal Caribbean Cruises Ltd. | Sold out | 0.00% | −0.19 |
| META Meta Platforms Inc. Class A | Reduce -13.9% | 0.72% | −0.17 |
| DPZ Domino's Pizza Inc. | Reduce -98.8% | 0.00% | −0.16 |
| BSX Boston Scientific Corp. | Reduce -99.4% | 0.00% | −0.14 |
| FISR SS Fi Sector Rotation | Reduce -97.7% | 0.00% | −0.13 |
| SNPS Synopsys Inc. | Sold out | 0.00% | −0.13 |
| ZTS Zoetis Inc. | Reduce -17.2% | 0.32% | −0.12 |
| RGA Reinsurance Group of America | Sold out | 0.00% | −0.11 |
| SPAB SS SPDR P Agg Bond ETF | Reduce -74.5% | 0.03% | −0.09 |
| MSFT Microsoft Corp. | Reduce -3.7% | 1.59% | −0.09 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Reduce -14.7% | 0.58% | −0.09 |
| ABX Abacus Global Management Inc. | Sold out | 0.00% | −0.09 |
| LIN Linde PLC | Sold out | 0.00% | −0.08 |
| INTU Intuit Inc. | Reduce -0.9% | 0.32% | −0.07 |
| AMZN Amazon.com Inc. | Reduce -5.2% | 0.64% | −0.07 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -5.1% | 0.66% | −0.07 |
| GPK Graphic Packaging Holding Co. | Sold out | 0.00% | −0.07 |
| HD Home Depot Inc. | Reduce -17.3% | 0.38% | −0.06 |
| SPTM SS SPDR P S&P 1500 Comp ETF | Sold out | 0.00% | −0.06 |
| SPLB SS SPDR P Long Term C ETF | Reduce -94.4% | 0.00% | −0.05 |
| V Visa Inc. Class A | Reduce -13.9% | 0.16% | −0.04 |
| RWR SS SPDR Dow Jones REIT ETF | Sold out | 0.00% | −0.04 |
| ORCL Oracle Corp. | Reduce -25.1% | 0.39% | −0.04 |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | Reduce -97.1% | 0.00% | −0.04 |
| XLP SS Consumer Staples Sel Sect | Reduce -3.7% | 0.27% | −0.04 |
| SPIB SS SPDR P Int C Corp. ETF | Reduce -97.2% | 0.00% | −0.04 |
| TDIV FT Nasdaq Tech DVD Index FD | Reduce -59.3% | 0.02% | −0.03 |
| XLV SS Health Care Select Sector | Reduce -5.3% | 0.40% | −0.03 |
| FTCS First Trust Capital Strength | Reduce -53.9% | 0.03% | −0.03 |
| KDP Keurig Dr Pepper Inc. | Reduce -0.2% | 0.07% | −0.03 |
| QQEW First TR Nasdaq-100 Sel Eq | Reduce -2.2% | 0.55% | −0.03 |
| UBER Uber Technologies Inc. | Reduce -15.0% | 0.13% | −0.02 |
| XLC SS Comm Select Sector SPDR | Reduce -16.0% | 0.15% | −0.02 |
| XLF SS Financial Select Sector | Reduce -11.8% | 0.13% | −0.02 |
| XNTK SS SPDR Nyse Tech ETF | Reduce -48.5% | 0.03% | −0.02 |
| XLI SS Industrial Select Sector | Reduce -8.6% | 0.16% | −0.02 |
| SPEM State Street SP PTF Em ETF | Reduce -12.5% | 0.16% | −0.02 |
| KR Kroger Co. | Reduce -0.4% | 0.12% | −0.02 |
| SCHR Schwab Intermediate-Term US | Sold out | 0.00% | −0.02 |
| SPTI SS SPDR P Int Term TSY ETF | Sold out | 0.00% | −0.02 |
| PH Parker Hannifin Corp. | Reduce -11.9% | 0.14% | −0.02 |
| TOTL SS Doubleline TR Tact ETF | Sold out | 0.00% | −0.02 |
| SPSB SS SPDR P St C Corp. ETF | Sold out | 0.00% | −0.02 |
| BUFR FT Vest Lad Buffervetf-Usd I | Reduce -23.6% | 0.05% | −0.01 |
| ROKU Roku Inc. | Reduce -9.5% | 0.51% | −0.01 |
| RWX State Street SPDR Dow Jones | Sold out | 0.00% | −0.01 |
| XAR SS SPDR S&P Aerospace Def | Sold out | 0.00% | −0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| ALGN Align Technology Inc. | New | 0.53% | +0.53 |
| GOOG Alphabet Inc. Class C | Add +30.5% | 0.85% | +0.35 |
| AAPL Apple Inc. | Add +4.0% | 1.69% | +0.30 |
| ASML ASML Holding NV-NY Reg SHS | Add +55.5% | 0.50% | +0.22 |
| IUSG iShares Core S&P U.S. Growth | Add +0.2% | 5.59% | +0.19 |
| CRH CRH PLC | New | 0.19% | +0.19 |
| IJR iShares Core S&P Small-Cap E | Add +1.3% | 4.40% | +0.17 |
| ADI Analog Devices Inc. | New | 0.16% | +0.16 |
| CCL Carnival Corp. | New | 0.13% | +0.13 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +40.4% | 0.38% | +0.11 |
| UNH Unitedhealth Group Inc. | Add +19.7% | 0.56% | +0.11 |
| UPS United Parcel Service Class B | Add +70.7% | 0.43% | +0.11 |
| DHR Danaher Corp. | Add +37.7% | 0.41% | +0.10 |
| MCHI iShares MSCI China ETF | Add +0.4% | 0.75% | +0.09 |
| IEMG iShares Core MSCI Emerging | Add +0.9% | 1.93% | +0.09 |
| IUSV iShares Core S&P U.S. Value | Add +1.8% | 5.62% | +0.08 |
| ALL Allstate Corp. | New | 0.08% | +0.08 |
| ETHU 2X Ether ETF | Add +3.5% | 0.14% | +0.08 |
| QQQ Invesco QQQ Trust Series 1 | Add +0.1% | 2.58% | +0.07 |
| INTC Intel Corp. | Add +2.8% | 0.22% | +0.07 |
| EEM iShares MSCI Emerging Market | Add +1.0% | 1.13% | +0.06 |
| ETHE Grayscale Ethereum Staking E | Add +1.9% | 0.15% | +0.05 |
| BOND PIMCO Active Bond Exchange-T | Add +15.9% | 0.50% | +0.05 |
| IVV iShares Core S&P 500 ETF | Add +0.9% | 1.53% | +0.04 |
| CERY SS SPDR BBG En RY CM St N-Ui | Add +101.0% | 0.07% | +0.04 |
| SPDW Ste STR SPDR PT DW Eu ETF | Add +22.2% | 0.19% | +0.03 |
| IBB iShares Biotechnology ETF | Add +2.3% | 0.37% | +0.03 |
| NEE Nextera Energy Inc. | Add +10.4% | 0.24% | +0.03 |
| TJX TJX Companies Inc. | Add +7.6% | 0.15% | +0.02 |
| PLD Prologis Inc. | Add +9.3% | 0.19% | +0.02 |
| LLY Eli Lilly & Co. | Add +14.1% | 0.36% | +0.02 |
| SPSM SS SPDR P S&P 600 Small Cap | Add +10.7% | 0.15% | +0.02 |
| JEPQ JPM Nasdaq Equity Premium | Add +2.1% | 0.80% | +0.02 |
| EFA iShares MSCI Eafe ETF | Add +2.1% | 1.99% | +0.01 |
| LULU Lululemon Athletica Inc. | Add +48.1% | 0.30% | +0.01 |
| VZ Verizon Communications Inc. | Add +7.3% | 0.46% | +0.01 |
| ETH Grayscale Ethereum Staking M | Add +0.9% | 0.03% | +0.01 |
| DAL Delta Air Lines Inc. | Add +0.2% | 0.13% | +0.01 |
| IJH iShares Core S&P Midcap ETF | Add +1.7% | 1.07% | +0.01 |
| WDAY Workday Inc. Class A | Add +14.2% | 0.14% | +0.01 |
| SBET Sharplink Inc. | New | 0.01% | +0.01 |
| QCOM Qualcomm Inc. | Add +4.1% | 0.34% | +0.01 |
| BAC Bank of America Corp. | Add +0.7% | 0.25% | +0.01 |
| DSTL Distillate US Fundamental St | Add +2.3% | 0.71% | +0.01 |
| SCZ iShares MSCI Eafe Small-Cap | Add +1.0% | 1.16% | +0.01 |
| LMT Lockheed Martin Corp. | Add +1.8% | 0.19% | +0.01 |
| PG The Procter & Gamble Co. | Add +11.7% | 0.32% | +0.01 |
| MA Mastercard Inc. Class A | Add +5.9% | 0.37% | +0.00 |
| SIXP Allian US Equ 6 Mon BU10-Usd | New | 0.00% | +0.00 |
| VWO Vanguard Ftse Emerging Marke | Add +0.1% | 0.10% | +0.00 |
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 |