L. Roy Papp & Associates, LLP

Q3 2025 13F-HR Holdings

Location
Phoenix, AZ
Holdings as of
9/30/2025
Date filed
10/9/2025
Form type
13F-HR
Num holdings
182
Total value ($000)
$889,592
Net value change ($000)
+47,742 (5.7%)
New positions
6
Sold out positions
4
Turnover %
0.7%
Sector allocation + QoQ delta (equities-only)
Prev filing: 7/24/2025 Next filing: 1/28/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
GOOGL 11,320 36.5%
AAPL 11,219 22.7%
GOOGL 7,270 37.0%
ORLY 5,428 16.8%
TMO 4,679 23.0%
JNJ 4,070 22.7%
BLK 3,719 9.5%
HD 2,617 11.8%
XBI 2,007 16.9%
MSFT 1,859 3.1%
Top Reduces (Value $000, Stocks/ETFs)
ACN -5,209 -15.7%
FDS -3,276 -39.0%
AKX -3,115 -100.0%
TROW -2,820 -23.2%
COST -1,924 -7.4%
EOG -1,714 -7.6%
CNI -1,686 -11.7%
SYK -1,231 -4.9%
BDX -1,135 -55.5%
V -1,107 -3.1%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type