CIK: 0001964203
Total reported value
$297.1M
Reporting period: 2026-03-31 · Number of holdings: 300
Richard W. Paul & Associates, LLC disclosed 300 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $297.1M and a quarterly turnover rate of 19.0%.
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Richard W. Paul & Associates, LLC's disclosed holdings carry a Herfindahl concentration index of 0.019 — mathematically equivalent to about 52 equally-sized positions, well below its 300 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.18), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 32% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim AGG
-55.0% -$8.4M
Add BOND
+263.3% $4.7M
Trim IJR
-38.0% -$4.8M
Trim XLRE
-98.7% -$1.6M
Trim IUSG
-2.3% -$1.7M
Add IUSV
+4.1% $691.0K
Showing top 200 holdings (of 300 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IUSV | Ishares Core S&p U.s. Value | ETF-Other | 6.27% | +0.32% | +4.15% | |
| 2 | IUSG | Ishares Core S&p U.s. Growth | ETF-Other | 5.26% | -0.49% | -2.33% | |
| 3 | TLT | Ishares 20+ Year Treasury Bd | ETF-Gov Bonds | 3.98% | +0.23% | +5.06% | |
| 4 | JPIE | Jpmorgan Income ETF | ETF-Other | 3.64% | +0.18% | +4.17% | |
| 5 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 3.53% | — | -2.62% | |
| 6 | IJR | Ishares Core S&p Small-cap E | ETF-Small Cap | 2.90% | -1.56% | -38.01% | |
| 7 | PYLD | Pimco Multisector Bond Actv | ETF-Other | 2.55% | — | +4.18% | |
| 8 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 2.47% | — | -0.36% | |
| 9 | AGG | Ishares Core U.s. Aggregate | ETF-Other | 2.30% | -2.77% | -55.00% | |
| 10 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 2.23% | -0.07% | +1.63% | |
| 11 | BOND | Pimco Active Bond Exchange-t | ETF-Other | 2.21% | +1.61% | +263.25% | |
| 12 | EFA | Ishares Msci Eafe ETF | ETF-Other | 2.04% | — | -0.43% | |
| 13 | IEMG | Ishares Core Msci Emerging | ETF-Emerging Markets | 1.97% | — | -6.48% | |
| 14 | FESM | Fidelity Enhanced Small Cap | ETF-Small Cap | 1.82% | +1.82% | NEW | |
| 15 | AAPL | Apple INC | Stock-Tech | 1.55% | -0.09% | +0.33% | |
| 16 | FBND | Fidelity Total Bond ETF | ETF-Other | 1.48% | +1.48% | NEW | |
| 17 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 1.41% | -0.15% | -6.59% | |
| 18 | IUSB | Ishr Cr Unvrse Usd Bd Etf-ui | ETF-Other | 1.39% | +0.14% | +11.15% | |
| 19 | SCZ | Ishares Msci Eafe Small-cap | ETF-Other | 1.23% | — | -1.12% | |
| 20 | MSFT | Microsoft CORP | Stock-Tech | 1.20% | -0.30% | +3.21% | |
| 21 | VYMI | Vanguard Int High Dvd Yld In | ETF-Other | 1.17% | — | -2.34% | |
| 22 | NVDA | Nvidia CORP | Stock-Tech | 1.15% | -0.08% | -0.86% | |
| 23 | IJH | Ishares Core S&p Midcap ETF | ETF-Other | 1.08% | — | -0.34% | |
| 24 | EEM | Ishares Msci Emerging Market | ETF-Emerging Markets | 1.08% | — | -0.54% | |
| 25 | IAGG | Ishares Intl Aggregate Bond | ETF-Other | 0.92% | +0.13% | +14.84% | |
| 26 | ISTB | Ishares Core 1-5 Year Usd Bo | ETF-Other | 0.85% | +0.10% | +12.19% | |
| 27 | VYM | Vanguard High Dvd Yield ETF | ETF-Other | 0.75% | — | -0.03% | |
| 28 | BUFD | Ft Vst Lad Deep Buf Etf-usdi | ETF-Other | 0.72% | — | +1.33% | |
| 29 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.72% | -0.07% | -2.07% | |
| 30 | JMBS | Janus Henderson Mortg Backed | ETF-Other | 0.67% | — | +1.71% | |
| 31 | EMB | Ishares Jp Morgan Usd Emergi | ETF-Other | 0.66% | — | +1.78% | |
| 32 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.63% | -0.10% | -0.93% | |
| 33 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.62% | — | +2.11% | |
| 34 | BUFR | Ft Vest Lad Buffervetf-usd I | ETF-Other | 0.62% | — | +1.36% | |
| 35 | PM | Philip Morris International | Stock-Consumer Staples | 0.61% | +0.11% | +16.53% | |
| 36 | VZ | Verizon Communications INC | Stock-Comm Services | 0.60% | +0.12% | -1.02% | |
| 37 | MCHI | Ishares Msci China ETF | ETF-Emerging Markets | 0.59% | — | +1.77% | |
| 38 | FETH | Fidelity Ethereum Fund | ETF-Other | 0.59% | -0.14% | +13.11% | |
| 39 | ALGN | Align Technology INC | Stock-Healthcare | 0.59% | — | -6.41% | |
| 40 | AMZN | Amazon.com INC | Stock-Consumer Disc | 0.59% | — | -0.31% | |
| 41 | IGF | Ishares Global Infrastructur | ETF-Other | 0.57% | +0.57% | NEW | |
| 42 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.55% | +0.08% | -0.06% | |
| 43 | ASML | ASML Holding N.V. | Stock-Tech | 0.54% | — | -8.01% | |
| 44 | AVGO | Broadcom INC | Stock-Tech | 0.53% | — | +1.81% | |
| 45 | MU | Micron Technology INC | Stock-Tech | 0.53% | — | -13.05% | |
| 46 | VRT | Vertiv Holdings Co-a | Stock-Industrials | 0.52% | +0.15% | -10.66% | |
| 47 | ABBV | Abbvie INC | Stock-Healthcare | 0.51% | — | +1.93% | |
| 48 | UPS | United Parcel Service-cl B | Stock-Industrials | 0.51% | — | +1.02% | |
| 49 | NFLX | Netflix INC | Stock-Comm Services | 0.51% | — | +3.75% | |
| 50 | SPYM | Ste Str Spdr Pt S&p 500 ETF | ETF-Large Cap & Growth | 0.51% | — | -0.55% |
Performance for Q3 2026
+2.8%
Performance Last 4 Quarters
+16.7%
Based on 81% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 300 | $297.1M | 19 | |
| 2025-12-31 | 294 | $301.2M | 22 | |
| 2025-09-30 | 316 | $292.9M | 21 | |
| 2025-06-30 | 337 | $276.6M | 0 | |
| 2025-03-31 | 337 | $255.0M | 0 | |
| 2024-12-31 | 513 | $274.5M | 0 | |
| 2024-09-30 | 506 | $278.4M | 0 | |
| 2024-06-30 | 497 | $259.1M | 0 | |
| 2024-03-31 | 512 | $250.5M | 0 | |
| 2023-12-31 | 503 | $238.1M | 0 | |
| 2023-09-30 | 1205 | $218.6M | 0 | |
| 2023-06-30 | 1271 | $229.5M | 0 | |
| 2023-03-31 | 1284 | $217.2M | 0 | |
| 2022-12-31 | 1304 | $198.7M | 0 |
Richard W. Paul & Associates, LLC's most significant position changes for 2026-03-31: New buy: Fidelity Enhanced Small Cap (FESM); New buy: Fidelity Total Bond ETF (FBND); New buy: Ishares Global Infrastructur (IGF); New buy: Jm Smucker Co/the (SJM); Trim: Ishares Core U.s. Aggregate (AGG) — shares -55.00%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | BOND | Pimco Active Bond Exchange-t | +1.6% | +263.25% | Add |
| 2 | IUSV | Ishares Core S&p U.s. Value | +0.3% | +4.15% | Add |
| 3 | TLT | Ishares 20+ Year Treasury Bd | +0.2% | +5.06% | Add |
| 4 | JPIE | Jpmorgan Income ETF | +0.2% | +4.17% | Add |
| 5 | VRT | Vertiv Holdings Co-a | +0.2% | -10.66% | Trim |
| 6 | CSCO | Cisco Systems INC | +0.1% | +41.37% | Add |
| 7 | IUSB | Ishr Cr Unvrse Usd Bd Etf-ui | +0.1% | +11.15% | Add |
| 8 | ORCL | Oracle CORP | +0.1% | +6317.50% | Add |
| 9 | IAGG | Ishares Intl Aggregate Bond | +0.1% | +14.84% | Add |
| 10 | STX | Seagate Technology Holdings plc | +0.1% | -7.22% | Trim |
| 11 | VZ | Verizon Communications INC | +0.1% | -1.02% | Trim |
| 12 | BSX | Boston Scientific CORP | +0.1% | +24281.82% | Add |
| 13 | PM | Philip Morris International | +0.1% | +16.53% | Add |
| 14 | PG | Procter & Gamble Co/the | +0.1% | +29.05% | Add |
| 15 | ISTB | Ishares Core 1-5 Year Usd Bo | +0.1% | +12.19% | Add |
| 16 | COST | Costco Wholesale CORP | +0.1% | -0.06% | Trim |
| 17 | TGT | Target CORP | +0.1% | -2.67% | Trim |
| 18 | T | At&t INC | +0.1% | +2.14% | Add |
| 19 | QQQ | Invesco Qqq Trust Series 1 | -0.1% | +1.63% | Add |
| 20 | GOOG | Alphabet Inc-cl C | -0.1% | -2.07% | Trim |
| 21 | DHR | Danaher CORP | -0.1% | — | Unchanged |
| 22 | FISV | Fiserv INC | -0.1% | -0.78% | Trim |
| 23 | SPY | Ss Spdr S&p 500 ETF Trust-us | -0.1% | -18.37% | Trim |
| 24 | KDP | Keurig Dr Pepper INC | -0.1% | -99.33% | Trim |
| 25 | NCLH | Norwegian Cruise Line Holdings Ltd. | -0.1% | -3.49% | Trim |
| 26 | NVDA | Nvidia CORP | -0.1% | -0.86% | Trim |
| 27 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | -0.1% | -14.66% | Trim |
| 28 | COIN | Coinbase Global INC -class A | -0.1% | +9.89% | Add |
| 29 | AAPL | Apple INC | -0.1% | +0.33% | Add |
| 30 | ULTA | Ulta Beauty INC | -0.1% | -4.21% | Trim |
| 31 | FSLR | First Solar INC | -0.1% | +3.06% | Add |
| 32 | ACN | Accenture plc | -0.1% | +4.98% | Add |
| 33 | META | Meta Platforms Inc-class A | -0.1% | -0.93% | Trim |
| 34 | KR | Kroger Co | -0.1% | -96.80% | Trim |
| 35 | INTU | Intuit INC | -0.1% | +7.00% | Add |
| 36 | WDAY | Workday Inc-class A | -0.1% | -98.02% | Trim |
| 37 | ADBE | Adobe INC | -0.1% | -96.46% | Trim |
| 38 | LULU | Lululemon Athletica INC | -0.1% | +2.64% | Add |
| 39 | FETH | Fidelity Ethereum Fund | -0.1% | +13.11% | Add |
| 40 | STE | STERIS plc | -0.1% | -95.83% | Trim |
| 41 | IVV | Ishares Core S&p 500 ETF | -0.2% | -6.59% | Trim |
| 42 | MSFT | Microsoft CORP | -0.3% | +3.21% | Add |
| 43 | IUSG | Ishares Core S&p U.s. Growth | -0.5% | -2.33% | Trim |
| 44 | XLRE | Ss Real Estate Select Sector | -0.5% | -98.66% | Trim |
| 45 | IJR | Ishares Core S&p Small-cap E | -1.6% | -38.01% | Trim |
| 46 | AGG | Ishares Core U.s. Aggregate | -2.8% | -55.00% | Trim |
| 47 | FESM | Fidelity Enhanced Small Cap | — | NEW | New buy |
| 48 | FBND | Fidelity Total Bond ETF | — | NEW | New buy |
| 49 | IGF | Ishares Global Infrastructur | — | NEW | New buy |
| 50 | SJM | Jm Smucker Co/the | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-13 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-12 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-13 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-12 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-12 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-05 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-17 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-23 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-14 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-23 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-12 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-07-25 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-04-24 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-07 | 13F-HR | View on EDGAR |
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