Richard W. Paul & Associates, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), Richard W. Paul & Associates, LLC reported 293 stock positions worth $301.2 million. Its top holding was iShares Core S&P U.S. Value (IUSV) at 6.0% of the portfolio, followed by iShares Core S&P U.S. Growth (IUSG, 5.8%) and iShares Core U.S. Aggregate (AGG, 5.1%). Compared with Q3 2025, it opened 14 new positions, sold out of 36, added to 80 and reduced 145. The biggest buy was Vanguard Int High DVD YLD (VYMI, shares +536%) and the biggest sale SS SPDR BB 1-3M T-Bill ETF (BIL, shares −78%).
- Most Recent 13F
- Q2 2026
- Location
- NOVI, MI
- CIK
- 0001964203
- Portfolio Value
- $301.2M (Q4 2025)
- SEC Filing
- 0001964203-26-000001 ↗ filed Feb 12, 2026
Holdings Value
Holdings 293 stocks · $301.2M
| IUSV iShares Core S&P U.S. Value | 5.95% | 174,875 | $17.9M | Add +6.1% |
| IUSG iShares Core S&P U.S. Growth | 5.75% | 103,133 | $17.3M | Add +3.5% |
| AGG iShares Core U.S. Aggregate | 5.07% | 152,954 | $15.3M | Add +20.9% |
| IJR iShares Core S&P Small-Cap E | 4.46% | 111,693 | $13.4M | Add +2.9% |
| TLT iShares 20+ Year Treasury BD | 3.75% | 129,681 | $11.3M | Add +4.3% |
| IEFA iShares Core MSCI Eafe ETF | 3.53% | 118,909 | $10.6M | Add +5.4% |
| JPIE JPMorgan Income ETF | 3.46% | 225,353 | $10.4M | Add +8.4% |
| PYLD PIMCO Multisector Bond Actv | 2.46% | 277,680 | $7.4M | Add +27.4% |
| RSP Invesco S&P 500 Equal Weight | 2.44% | 38,422 | $7.4M | Reduce -16.2% |
| QQQ Invesco QQQ Trust Series 1 | 2.30% | 11,281 | $6.9M | Reduce -10.4% |
| IEMG iShares Core MSCI Emerging | 2.00% | 89,653 | $6.0M | Add +4.4% |
| EFA iShares MSCI Eafe ETF | 2.00% | 62,630 | $6.0M | Add +0.1% |
| AAPL Apple Inc. | 1.64% | 18,136 | $4.9M | Reduce -7.0% |
| IVV iShares Core S&P 500 ETF | 1.56% | 6,847 | $4.7M | Add +2.4% |
| MSFT Microsoft Corp. | 1.50% | 9,349 | $4.5M | Add +3.8% |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | 1.25% | 80,586 | $3.8M | Add +11.1% |
| NVDA Nvidia Corp. | 1.23% | 19,789 | $3.7M | Reduce -2.7% |
| SCZ iShares MSCI Eafe Small-Cap | 1.21% | 46,973 | $3.6M | Add +5.7% |
| VYMI Vanguard Int High DVD YLD Inc. | 1.13% | 37,673 | $3.4M | Add +535.7% |
| IJH iShares Core S&P Midcap ETF | 1.05% | 47,873 | $3.2M | Reduce -0.2% |
| EEM iShares MSCI Emerging Market | 1.03% | 56,733 | $3.1M | Reduce -8.8% |
| IAGG iShares Intl Aggregate Bond | 0.79% | 47,739 | $2.4M | Add +11.1% |
| GOOG Alphabet Inc. Class C | 0.79% | 7,579 | $2.4M | Reduce -26.1% |
| ISTB iShares Core 1-5 Year Usd Bo | 0.75% | 46,530 | $2.3M | Add +11.8% |
| FETH Fidelity Ethereum Fund | 0.73% | 74,241 | $2.2M | Add +21.1% |
| META Meta Platforms Inc. Class A | 0.73% | 3,326 | $2.2M | Add +16.3% |
| VYM Vanguard High DVD Yield ETF | 0.72% | 15,051 | $2.2M | Add +7136.1% |
| BUFD FT VST Lad Deep Buf ETF-Usdi | 0.70% | 75,144 | $2.1M | New |
| JPM JPMorgan Chase & Co. | 0.66% | 6,157 | $2.0M | Reduce -2.2% |
| EMB iShares JP Morgan Usd Emergi | 0.65% | 20,431 | $2.0M | New |
| JMBS Janus Henderson Mortg Backed | 0.65% | 43,003 | $2.0M | New |
| AMZN Amazon.com Inc. | 0.65% | 8,417 | $1.9M | Reduce -1.3% |
| MCHI iShares MSCI China ETF | 0.62% | 30,908 | $1.9M | Reduce -7.7% |
| BUFR FT Vest Lad Buffervetf-Usd I | 0.61% | 53,706 | $1.8M | Add +1224.4% |
| BOND PIMCO Active Bond Exchange-T | 0.60% | 19,545 | $1.8M | Add +24.4% |
| AVGO Broadcom Inc. | 0.58% | 5,014 | $1.7M | Reduce -8.1% |
| ULTA Ulta Beauty Inc. | 0.57% | 2,828 | $1.7M | Add +1.8% |
| COIN Coinbase Global Inc. Class A | 0.57% | 7,540 | $1.7M | Add +18.5% |
| ALGN Align Technology Inc. | 0.57% | 10,910 | $1.7M | Reduce -11.7% |
| XLRE SS Real Estate Select Sector | 0.55% | 41,131 | $1.7M | Add +10.9% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.55% | 20,483 | $1.7M | Reduce -14.4% |
| PYPL PayPal Holdings Inc. | 0.55% | 28,263 | $1.6M | Add +14.0% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.53% | 19,776 | $1.6M | Reduce -9.2% |
| ABBV Abbvie Inc. | 0.52% | 6,896 | $1.6M | Reduce -3.2% |
| UPS United Parcel Service Class B | 0.50% | 15,317 | $1.5M | Add +1.0% |
| PM Philip Morris International | 0.50% | 9,472 | $1.5M | Add +18.8% |
| MU Micron Technology Inc. | 0.50% | 5,316 | $1.5M | Reduce -44.8% |
| UNH Unitedhealth Group Inc. | 0.50% | 4,519 | $1.5M | Reduce -5.7% |
| NCLH Norwegian Cruise Line Holdin | 0.49% | 66,717 | $1.5M | New |
| LULU Lululemon Athletica Inc. | 0.49% | 7,086 | $1.5M | Add +41.5% |
| BABA Alibaba Group Holding-SP ADR | 0.48% | 9,935 | $1.5M | Reduce -22.8% |
| ACN Accenture PLC Class A | 0.48% | 5,427 | $1.5M | Add +256.6% |
| VZ Verizon Communications Inc. | 0.48% | 35,672 | $1.5M | Add +15.7% |
| ASML ASML Holding NV-NY Reg SHS | 0.47% | 1,324 | $1.4M | Reduce -11.7% |
| NFLX Netflix Inc. | 0.47% | 15,091 | $1.4M | Add +15.0% |
| COST Costco Wholesale Corp. | 0.47% | 1,639 | $1.4M | Add +12.4% |
| GOOGL Alphabet Inc. Class A | 0.46% | 4,463 | $1.4M | Reduce -8.0% |
| LLY Eli Lilly & Co. | 0.45% | 1,273 | $1.4M | Reduce -8.9% |
| DHR Danaher Corp. | 0.45% | 5,958 | $1.4M | Reduce -0.8% |
| AMD Advanced Micro Devices | 0.45% | 6,365 | $1.4M | Reduce -21.8% |
| FISV Fiserv Inc. | 0.44% | 19,761 | $1.3M | Add +98705.0% |
| XLV SS Health Care Select Sector | 0.43% | 8,339 | $1.3M | Reduce -1.9% |
| MRK Merck & Co. Inc. | 0.42% | 12,160 | $1.3M | Add +1.6% |
| D Dominion Energy Inc. | 0.41% | 20,847 | $1.2M | Add +156.3% |
| FSLR First Solar Inc. | 0.41% | 4,671 | $1.2M | Reduce -30.0% |
| MA Mastercard Inc. Class A | 0.39% | 2,080 | $1.2M | Add +10.0% |
| IWM iShares Russell 2000 ETF | 0.39% | 4,748 | $1.2M | Reduce -12.3% |
| QQEW First TR Nasdaq-100 Sel Eq | 0.38% | 8,135 | $1.2M | Reduce -29.4% |
| JNJ Johnson & Johnson | 0.38% | 5,476 | $1.1M | Reduce -3.4% |
| VRT Vertiv Holdings Co. Class A | 0.37% | 6,961 | $1.1M | Reduce -20.7% |
| CVS CVS Health Corp. | 0.37% | 14,007 | $1.1M | Reduce -8.4% |
| INTU Intuit Inc. | 0.37% | 1,672 | $1.1M | Add +21.1% |
| APO Apollo Global Management Inc. | 0.36% | 7,584 | $1.1M | New |
| STX Seagate Technology Holdings | 0.36% | 3,936 | $1.1M | Reduce -38.2% |
| ZTS Zoetis Inc. | 0.36% | 8,594 | $1.1M | Add +32.9% |
| MO Altria Group Inc. | 0.36% | 18,691 | $1.1M | Add +22.7% |
| T AT&T Inc. | 0.36% | 43,204 | $1.1M | Add +23.1% |
| JAAA Janus Henderson Aaa Clo ETF | 0.36% | 21,173 | $1.1M | Add +11.0% |
| TGT Target Corp. | 0.36% | 10,945 | $1.1M | Add +24.3% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.35% | 11,577 | $1.1M | Reduce -77.7% |
| HD Home Depot Inc. | 0.35% | 3,066 | $1.1M | Add +11.3% |
| NEE Nextera Energy Inc. | 0.35% | 13,009 | $1.0M | Add +41.3% |
| PFE Pfizer Inc. | 0.34% | 41,194 | $1.0M | Add +6.3% |
| QCOM Qualcomm Inc. | 0.34% | 5,970 | $1.0M | Reduce -0.7% |
| CIBR First Trust Nasdaq Cybersecu | 0.33% | 14,109 | $1.0M | Reduce -2.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.33% | 1,475 | $1.0M | Reduce -11.6% |
| SPGI S&P Global Inc. | 0.33% | 1,886 | $986K | Add +21.0% |
| VEA Vanguard Ftse Developed ETF | 0.32% | 15,637 | $977K | Add +0.3% |
| WMT Walmart Inc. | 0.32% | 8,744 | $974K | Add +4.3% |
| PG The Procter & Gamble Co. | 0.32% | 6,792 | $973K | Add +12.2% |
| CSCO Cisco Systems Inc. | 0.32% | 12,560 | $968K | Add +2.5% |
| QQQM Invesco Nasdaq 100 ETF | 0.31% | 3,744 | $947K | Reduce -29.7% |
| ISRG Intuitive Surgical Inc. | 0.30% | 1,619 | $917K | Add +1.7% |
| XLP SS Consumer Staples Sel Sect | 0.29% | 11,372 | $883K | Add +10.7% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.29% | 1,785 | $871K | Reduce -0.4% |
| BMY Bristol-Myers Squibb Co. | 0.27% | 15,115 | $815K | Add +8.6% |
| XLK SS Technology Select Sector | 0.27% | 5,589 | $805K | Reduce -36.2% |
| JNK SS SPDR BB High Yield Bond | 0.26% | 8,132 | $791K | Reduce -23.9% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.26% | 4,107 | $784K | Add +1.7% |
| PRU Prudential Financial Inc. | 0.26% | 6,809 | $769K | Add +9.0% |
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: $301.2M.
Portfolio Sells Q3 2025 → Q4 2025
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -77.7% | 0.35% | −1.27 |
| JEPQ JPM Nasdaq Equity Premium | Sold out | 0.00% | −0.80 |
| JEPI JPMorgan Equity Premium Inco | Sold out | 0.00% | −0.74 |
| DSTL Distillate US Fundamental St | Reduce -99.6% | 0.00% | −0.71 |
| RSP Invesco S&P 500 Equal Weight | Reduce -16.2% | 2.44% | −0.53 |
| ROKU Roku Inc. | Reduce -99.5% | 0.00% | −0.51 |
| ORCL Oracle Corp. | Reduce -99.0% | 0.00% | −0.38 |
| IBB iShares Biotechnology ETF | Reduce -99.6% | 0.00% | −0.37 |
| BABA Alibaba Group Holding-SP ADR | Reduce -22.8% | 0.48% | −0.30 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -10.4% | 2.30% | −0.28 |
| SBUX Starbucks Corp. | Reduce -99.5% | 0.00% | −0.26 |
| INTC Intel Corp. | Reduce -99.7% | 0.00% | −0.22 |
| MMM 3M Co. | Reduce -99.6% | 0.00% | −0.22 |
| CRH CRH PLC | Reduce -99.3% | 0.00% | −0.19 |
| QQEW First TR Nasdaq-100 Sel Eq | Reduce -29.4% | 0.38% | −0.17 |
| XLK SS Technology Select Sector | Reduce -36.2% | 0.27% | −0.15 |
| STX Seagate Technology Holdings | Reduce -38.2% | 0.36% | −0.15 |
| EWW iShares MSCI Mexico ETF | Sold out | 0.00% | −0.14 |
| MCHI iShares MSCI China ETF | Reduce -7.7% | 0.62% | −0.14 |
| QQQM Invesco Nasdaq 100 ETF | Reduce -29.7% | 0.31% | −0.13 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -14.4% | 0.55% | −0.11 |
| EEM iShares MSCI Emerging Market | Reduce -8.8% | 1.03% | −0.10 |
| FSLR First Solar Inc. | Reduce -30.0% | 0.41% | −0.10 |
| JNK SS SPDR BB High Yield Bond | Reduce -23.9% | 0.26% | −0.09 |
| IRM Iron Mountain Inc. | Reduce -98.1% | 0.00% | −0.09 |
| VRT Vertiv Holdings Co. Class A | Reduce -20.7% | 0.37% | −0.08 |
| GLPI Gaming and Leisure Propertie | Sold out | 0.00% | −0.07 |
| XLY SS Consumer Disc Select Sect | Reduce -30.3% | 0.15% | −0.07 |
| NVDA Nvidia Corp. | Reduce -2.7% | 1.23% | −0.07 |
| UNH Unitedhealth Group Inc. | Reduce -5.7% | 0.50% | −0.07 |
| GOOG Alphabet Inc. Class C | Reduce -26.1% | 0.79% | −0.06 |
| IWM iShares Russell 2000 ETF | Reduce -12.3% | 0.39% | −0.06 |
| AAPL Apple Inc. | Reduce -7.0% | 1.64% | −0.06 |
| AMT American Tower Corp. | Reduce -20.9% | 0.13% | −0.06 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Reduce -9.2% | 0.53% | −0.06 |
| MU Micron Technology Inc. | Reduce -44.8% | 0.50% | −0.05 |
| ETHE Grayscale Ethereum Staking E | Reduce -0.7% | 0.10% | −0.05 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -11.6% | 0.33% | −0.05 |
| LRCX Lam Research Corp. | Reduce -35.7% | 0.18% | −0.04 |
| ABBV Abbvie Inc. | Reduce -3.2% | 0.52% | −0.04 |
| CIBR First Trust Nasdaq Cybersecu | Reduce -2.0% | 0.33% | −0.04 |
| AVGO Broadcom Inc. | Reduce -8.1% | 0.58% | −0.04 |
| CERY SS SPDR BBG En RY CM St N-Ui | Reduce -46.6% | 0.04% | −0.03 |
| UBER Uber Technologies Inc. | Reduce -7.1% | 0.10% | −0.03 |
| XLSR SS US Sector Rotation | Reduce -14.8% | 0.21% | −0.03 |
| EMXC iShares MSCI Emr MRK Ex Chna | Reduce -16.7% | 0.22% | −0.03 |
| PHM Pultegroup Inc. | Reduce -7.3% | 0.13% | −0.03 |
| SPSM SS SPDR P S&P 600 Small Cap | Reduce -18.3% | 0.12% | −0.03 |
| TMUS T-Mobile US Inc. | Reduce -6.9% | 0.10% | −0.03 |
| IBKR Interactive Brokers Gro Class A | Reduce -7.2% | 0.15% | −0.03 |
Portfolio Buys Q3 2025 → Q4 2025
| VYMI Vanguard Int High DVD YLD Inc. | Add +535.7% | 1.13% | +0.95 |
| AGG iShares Core U.S. Aggregate | Add +20.9% | 5.07% | +0.74 |
| VYM Vanguard High DVD Yield ETF | Add +7136.1% | 0.72% | +0.71 |
| BUFD FT VST Lad Deep Buf ETF-Usdi | New | 0.70% | +0.70 |
| EMB iShares JP Morgan Usd Emergi | New | 0.65% | +0.65 |
| JMBS Janus Henderson Mortg Backed | New | 0.65% | +0.65 |
| BUFR FT Vest Lad Buffervetf-Usd I | Add +1224.4% | 0.61% | +0.56 |
| NCLH Norwegian Cruise Line Holdin | New | 0.49% | +0.49 |
| PYLD PIMCO Multisector Bond Actv | Add +27.4% | 2.46% | +0.46 |
| FISV Fiserv Inc. | Add +98705.0% | 0.44% | +0.44 |
| APO Apollo Global Management Inc. | New | 0.36% | +0.36 |
| ACN Accenture PLC Class A | Add +256.6% | 0.48% | +0.36 |
| IUSV iShares Core S&P U.S. Value | Add +6.1% | 5.95% | +0.33 |
| D Dominion Energy Inc. | Add +156.3% | 0.41% | +0.24 |
| LULU Lululemon Athletica Inc. | Add +41.5% | 0.49% | +0.18 |
| JPIE JPMorgan Income ETF | Add +8.4% | 3.46% | +0.17 |
| IEFA iShares Core MSCI Eafe ETF | Add +5.4% | 3.53% | +0.17 |
| IUSG iShares Core S&P U.S. Growth | Add +3.5% | 5.75% | +0.16 |
| STE Steris PLC | New | 0.15% | +0.15 |
| LIN Linde PLC | New | 0.12% | +0.12 |
| NEE Nextera Energy Inc. | Add +41.3% | 0.35% | +0.11 |
| BOND PIMCO Active Bond Exchange-T | Add +24.4% | 0.60% | +0.10 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Add +11.1% | 1.25% | +0.09 |
| TGT Target Corp. | Add +24.3% | 0.36% | +0.09 |
| MRK Merck & Co. Inc. | Add +1.6% | 0.42% | +0.08 |
| UPS United Parcel Service Class B | Add +1.0% | 0.50% | +0.07 |
| IEMG iShares Core MSCI Emerging | Add +4.4% | 2.00% | +0.07 |
| SPGI S&P Global Inc. | Add +21.0% | 0.33% | +0.07 |
| PM Philip Morris International | Add +18.8% | 0.50% | +0.06 |
| ISRG Intuitive Surgical Inc. | Add +1.7% | 0.30% | +0.06 |
| ISTB iShares Core 1-5 Year Usd Bo | Add +11.8% | 0.75% | +0.06 |
| BMY Bristol-Myers Squibb Co. | Add +8.6% | 0.27% | +0.06 |
| IJR iShares Core S&P Small-Cap E | Add +2.9% | 4.46% | +0.05 |
| ULTA Ulta Beauty Inc. | Add +1.8% | 0.57% | +0.05 |
| INTU Intuit Inc. | Add +21.1% | 0.37% | +0.05 |
| SCZ iShares MSCI Eafe Small-Cap | Add +5.7% | 1.21% | +0.05 |
| IAGG iShares Intl Aggregate Bond | Add +11.1% | 0.79% | +0.04 |
| TXN Texas Instruments Inc. | Add +28.0% | 0.25% | +0.04 |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | Add +3582.9% | 0.04% | +0.04 |
| ZTS Zoetis Inc. | Add +32.9% | 0.36% | +0.04 |
| CSCO Cisco Systems Inc. | Add +2.5% | 0.32% | +0.04 |
| PRU Prudential Financial Inc. | Add +9.0% | 0.26% | +0.03 |
| IVV iShares Core S&P 500 ETF | Add +2.4% | 1.56% | +0.03 |
| WMT Walmart Inc. | Add +4.3% | 0.32% | +0.03 |
| MA Mastercard Inc. Class A | Add +10.0% | 0.39% | +0.03 |
| JAAA Janus Henderson Aaa Clo ETF | Add +11.0% | 0.36% | +0.02 |
| KO The Coca-Cola Co. | Add +8.0% | 0.25% | +0.02 |
| VZ Verizon Communications Inc. | Add +15.7% | 0.48% | +0.02 |
| XLP SS Consumer Staples Sel Sect | Add +10.7% | 0.29% | +0.02 |
| T AT&T Inc. | Add +23.1% | 0.36% | +0.02 |
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 |