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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F HOLDINGS REPORT

Richard W. Paul & Associates, LLC

Quarter ended Q2 2025 · Filed August 12, 2025 · Accession 0001964203-25-000004

Total Value
$276.6M
Positions
337
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (337)

#IssuerTicker / CUSIPSharesValue% of Filing
1ISHARES TR464287663161,976$15.3M5.54%
2ISHARES TR46428767199,410$15.0M5.41%
3ISHARES TR464287226123,041$12.2M4.41%
4ISHARES TR464287804107,216$11.7M4.24%
5ISHARES TR464287432121,594$10.7M3.88%
6ISHARES TR46432F842111,637$9.3M3.37%
7J P MORGAN EXCHANGE TRADED F46641Q159199,408$9.2M3.34%
8INVESCO EXCHANGE TRADED FD TIVZ45,386$8.2M2.98%
9INVESCO QQQ TRIVZ12,580$6.9M2.51%
10PIMCO ETF TR72201R585213,595$5.7M2.05%
11ISHARES TR46428746561,265$5.5M1.98%
12ISHARES INC46434G10385,093$5.1M1.85%
13MICROSOFT CORPMSFT9,349$4.7M1.68%
14SPDR SERIES TRUST78468R66350,432$4.6M1.67%
15ISHARES TR4642872006,626$4.1M1.49%
16APPLE INCAAPL18,746$3.8M1.39%
17NVIDIA CORPORATIONNVDA22,627$3.6M1.29%
18ISHARES TR46434V61372,177$3.3M1.21%
19ISHARES TR46428827343,993$3.2M1.16%
20COINBASE GLOBAL INCCOIN8,772$3.1M1.11%
21ISHARES TR46428723461,579$3.0M1.07%
22ISHARES TR46428750747,158$2.9M1.06%
23META PLATFORMS INCMETA3,320$2.5M0.89%
24NETFLIX INCNFLX1,782$2.4M0.86%
25ISHARES TR46435G67242,889$2.2M0.79%
26J P MORGAN EXCHANGE TRADED F46654Q20339,838$2.2M0.78%
27J P MORGAN EXCHANGE TRADED F46641Q33236,961$2.1M0.76%
28ISHARES TR46428851325,208$2.0M0.73%
29ISHARES TR46432F85941,452$2.0M0.73%
30AMAZON COM INCAMZN9,002$2.0M0.71%
31ETF SER SOLUTIONS26922A32135,291$2.0M0.71%
32JPMORGAN CHASE & CO.VYLD6,438$1.9M0.67%
33SPDR SERIES TRUST78464A85425,534$1.9M0.67%
34ISHARES TR46429B67133,375$1.8M0.66%
35BROADCOM INCAVGO6,215$1.7M0.62%
36FIDELITY ETHEREUM FD31613E10365,374$1.6M0.59%
37PAYPAL HLDGS INCPYPL21,753$1.6M0.58%
38FIRST TR EXCHANGE-TRADED FD33734410511,771$1.6M0.58%
39ALIBABA GROUP HLDG LTDBBAAY13,461$1.5M0.55%
40SELECT SECTOR SPDR TR81369Y86036,005$1.5M0.54%
41ROKU INCROKU16,525$1.5M0.53%
42ULTA BEAUTY INCULTA2,990$1.4M0.51%
43COSTCO WHSL CORP NEW22160K1051,409$1.4M0.50%
44ALPHABET INCGOOG7,851$1.4M0.50%
45ABBVIE INCABBV7,372$1.4M0.49%
46PHILIP MORRIS INTL INC7181721097,412$1.3M0.49%
47MICRON TECHNOLOGY INCMU10,516$1.3M0.47%
48INVESCO EXCH TRADED FD TR IIIVZ5,561$1.3M0.46%
49ADVANCED MICRO DEVICES INCAMD8,875$1.3M0.46%
50PIMCO ETF TR72201R77513,553$1.2M0.45%
51UNITEDHEALTH GROUP INCUNH4,003$1.2M0.45%
52VERIZON COMMUNICATIONS INCVZ28,732$1.2M0.45%
53ISHARES TR4642876555,679$1.2M0.44%
54HOME DEPOT INCHD3,331$1.2M0.44%
55SEAGATE TECHNOLOGY HLDNGS PLSE8,459$1.2M0.44%
56ZOETIS INCZTS7,808$1.2M0.44%
57SELECT SECTOR SPDR TR81369Y2098,983$1.2M0.44%
58ORACLE CORPORCL-PD5,366$1.2M0.42%
59SELECT SECTOR SPDR TR81369Y8034,612$1.2M0.42%
60CHIPOTLE MEXICAN GRILL INCCMG20,727$1.2M0.42%
61FIRST SOLAR INCFSLR6,884$1.1M0.41%
62VERTIV HOLDINGS COVRT8,804$1.1M0.41%
63INTUITINTU1,394$1.1M0.40%
64CVS HEALTH CORPCVS15,910$1.1M0.40%
65FIRST TR EXCHANGE TRADED FD33734X84614,088$1.1M0.38%
66SPDR SERIES TRUST78468R62210,623$1.0M0.37%
67MASTERCARD INCORPORATEDMA1,786$1.0M0.36%
68AT&T INCT-PC34,247$991,1170.36%
69MERCK & CO INCMRK12,256$970,1460.35%
70JANUS DETROIT STR TR47103U84519,029$965,7060.35%
71PFIZER INCPFE39,454$956,3720.35%
72ELI LILLY & COLLY1,225$954,8900.35%
73ALTRIA GROUP INCMO16,070$942,1990.34%
74ISHARES TR4642875567,289$922,0840.33%
75JOHNSON & JOHNSONJNJ6,031$921,2290.33%
76QUALCOMM INCQCOM5,776$919,8180.33%
77UNITED PARCEL SERVICE INCUPS8,883$896,6810.32%
78VANGUARD TAX-MANAGED FDS92194385815,584$888,4690.32%
79SELECT SECTOR SPDR TR81369Y30810,665$863,5780.31%
80PROCTER AND GAMBLE CO7427181095,419$863,3000.31%
81DANAHER CORPORATION2358511024,362$861,7150.31%
82ALPHABET INCGOOG4,863$856,9740.31%
83TARGET CORPTGT8,682$856,4790.31%
84CISCO SYS INCCSCO12,049$835,9650.30%
85STARBUCKS CORPSBUX9,083$832,3070.30%
86WALMART INCWMT8,299$811,4550.29%
87LULULEMON ATHLETICA INCLULU3,380$803,0200.29%
88VANGUARD INDEX FDS9229087361,800$789,1270.29%
89INTUITIVE SURGICAL INCISRG1,441$783,0540.28%
90ASML HOLDING N VASMLF964$772,6110.28%
91S&P GLOBAL INCSPGI1,439$758,5770.27%
92VANGUARD SPECIALIZED FUNDS9219088443,632$743,2660.27%
93SPDR S&P 500 ETF TRSPY1,189$734,6240.27%
94VANGUARD INDEX FDS9229087444,026$711,5470.26%
95ISHARES INC46434G76410,947$691,2030.25%
96TEXAS INSTRS INC8825081043,210$666,4180.24%
97SSGA ACTIVE TR78470P40812,002$659,1500.24%
98BANK AMERICA CORP06050510413,870$656,3390.24%
99SHERWIN WILLIAMS COSHW1,885$647,1950.23%
100PEPSICO INCPEP4,871$643,1800.23%
1013M COMMM4,219$642,3230.23%
102COCA COLA COKO9,044$639,8830.23%
103PRUDENTIAL FINL INCPUKPF5,837$627,1770.23%
104BRISTOL-MYERS SQUIBB COCELG-RI13,493$624,6060.23%
105SELECT SECTOR SPDR TR81369Y4072,777$603,5750.22%
106NEXTERA ENERGY INCNEE-PW8,340$578,9470.21%
107AMERICAN TOWER CORP NEW03027X1002,489$550,2070.20%
108VISA INCV1,549$550,1020.20%
109INTERACTIVE BROKERS GROUP IN45841N1079,741$539,7630.20%
110ROYAL CARIBBEAN GROUPV7780T1031,677$525,2300.19%
111AMERICAN EXPRESS COAXP1,621$517,2050.19%
112WELLS FARGO CO NEW9497461016,356$509,2440.18%
113LOCKHEED MARTIN CORPLMT1,079$499,8540.18%
114BANK NEW YORK MELLON CORP0640581005,468$498,1590.18%
115SELECT SECTOR SPDR TR81369Y7043,376$498,0460.18%
116VANGUARD WHITEHALL FDS9219467946,070$486,2830.18%
117SELECT SECTOR SPDR TR81369Y8524,415$479,1700.17%
118DOMINION ENERGY INCD8,472$478,8480.17%
119SPDR INDEX SHS FDS78463X50911,161$477,0210.17%
120LAM RESEARCH CORPLRCX4,890$475,9930.17%
121PROLOGIS INC.PLDGP4,482$471,1220.17%
122SPDR INDEX SHS FDS78463X88910,900$441,3410.16%
123DOMINOS PIZZA INCDPZ970$437,2740.16%
124UBER TECHNOLOGIES INCUBER4,674$436,0840.16%
125PARKER-HANNIFIN CORPPH623$435,2830.16%
126INTEL CORPINTC19,093$427,6730.15%
127MCKESSON CORPMCK570$417,9200.15%
128SELECT SECTOR SPDR TR81369Y6057,733$404,9740.15%
129KROGER COKR5,392$386,7780.14%
130L3HARRIS TECHNOLOGIES INCLHX1,534$384,9120.14%
131SSGA ACTIVE TR78470P50714,689$379,5640.14%
132BOSTON SCIENTIFIC CORPBSX3,507$376,6870.14%
133ISHARES INC4642868226,217$376,4830.14%
134T-MOBILE US INCTMUSZ1,563$372,3830.13%
135ADOBE INCADBE958$370,6310.13%
136SPDR SERIES TRUST78468R8538,664$369,0860.13%
137IQVIA HLDGS INCIQV2,338$368,4450.13%
138ACCENTURE PLC IRELANDACN1,225$366,1400.13%
139PULTE GROUP INC7458671013,469$365,8760.13%
140WORKDAY INCWDAY1,482$355,6800.13%
141SPDR SERIES TRUST78464A5086,790$355,3890.13%
142SYNOPSYS INCSNPS693$355,2870.13%
143SERVICENOW INCNOW345$354,6880.13%
144SPDR SERIES TRUST78464A64913,425$343,6800.12%
145DIAMONDBACK ENERGY INCFANG2,475$340,0740.12%
146TJX COS INC NEW8725401092,733$337,4660.12%
147RESTAURANT BRANDS INTL INC76131D1035,038$333,9840.12%
148DELTA AIR LINES INC DELDAL6,716$330,2880.12%
149SCHLUMBERGER LTDSLB9,518$321,7000.12%
150REINSURANCE GRP OF AMERICA I7593516041,523$302,1620.11%
151SYSCO CORPSYY3,767$285,3020.10%
152KEURIG DR PEPPER INCKDP8,576$283,5240.10%
153KIMBERLY-CLARK CORPKMB2,191$282,4480.10%
154PPL CORPPPLC8,272$280,3430.10%
155IRON MTN INC DEL46284V1012,700$276,9390.10%
156DISNEY WALT CO2546871062,143$265,7790.10%
157VANGUARD INTL EQUITY INDEX F9220428585,324$263,3320.10%
158GRAYSCALE ETHEREUM TRUST ETF38963810712,357$257,7670.09%
159CENTERPOINT ENERGY INCCNP6,721$246,9330.09%
160ABACUS GLOBAL MGMT INC00258Y10447,072$241,9500.09%
161LINDE PLCLIN489$229,5760.08%
162EA SERIES TRUST02072L5651,949$219,6130.08%
163GAMING & LEISURE PPTYS INC36467J1084,587$214,1160.08%
164VANGUARD CHARLOTTE FDS92203J4074,101$203,0410.07%
165VANGUARD INDEX FDS922908751848$201,0210.07%
166SPDR SERIES TRUST78468R4087,767$197,9150.07%
167GRAPHIC PACKAGING HLDG COGPK8,922$187,9870.07%
168VANGUARD BD INDEX FDS9219378272,314$182,1120.07%
169VOLATILITY SHS TR92864M7982,987$169,0640.06%
170FIRST TR EXCHNG TRADED FD VI33740F7555,305$168,6990.06%
171SPDR SERIES TRUST78464A8052,210$165,5070.06%
172FIRST TR EXCHANGE-TRADED FD33733E1041,799$163,5110.06%
173FIRST TR EXCHANGE TRADED FD33738R1181,806$162,8470.06%
174SPDR SERIES TRUST78464A8472,779$151,1220.05%
175SPDR SERIES TRUST78464A3676,266$141,4240.05%
176SPDR GOLD TRGLD454$138,3930.05%
177SPDR INDEX SHS FDS78463X8713,656$135,9300.05%
178SPDR SERIES TRUST78464A102551$130,7410.05%
179SPDR SERIES TRUST78464A6644,082$108,5000.04%
180SPDR SERIES TRUST78464A6071,116$107,6270.04%
181VANGUARD SCOTTSDALE FDS92206C7712,287$105,9800.04%
182SPDR SERIES TRUST78464A3753,035$101,9150.04%
183SPDR SERIES TRUST78468R4403,625$98,7090.04%
184VANGUARD BD INDEX FDS9219378191,240$95,9020.03%
185VANGUARD BD INDEX FDS9219377931,289$89,6370.03%
186CLOUDFLARE INCNET456$89,2980.03%
187SPDR SERIES TRUST78464A409934$89,0290.03%
188SSGA ACTIVE ETF TR78467V6081,908$79,3380.03%
189SPDR SERIES TRUST78468R5153,211$79,0230.03%
190SPDR SERIES TRUST78464A3912,927$62,6380.02%
191ISHARES ETHEREUM TR46438R1053,224$61,4820.02%
192GRAYSCALE ETHEREUM MINI TR E38964R2032,543$60,3200.02%
193FIRST TR EXCHNG TRADED FD VI33740F8051,275$55,9600.02%
194FIDELITY WISE ORIGIN BITCOINFBTC533$50,0970.02%
195SCHWAB STRATEGIC TR8085248541,720$43,0520.02%
196SPDR SERIES TRUST78464A6721,495$43,0110.02%
197SSGA ACTIVE ETF TR78467V8481,050$42,1160.02%
198SPDR SERIES TRUST78464A4741,380$41,6620.02%
199SPDR INDEX SHS FDS78463X8631,378$37,7570.01%
200SPDR SERIES TRUST78464A631166$35,0160.01%
201ISHARES TR464289438141$34,7580.01%
202VANGUARD INDEX FDS922908553382$34,0210.01%
203ISHARES TR464287481208$28,8450.01%
204NATIONAL GRID PLCNMPWP384$28,5730.01%
205SPDR SERIES TRUST78464A870339$28,1130.01%
206VANGUARD WHITEHALL FDS921946406208$27,7280.01%
207ENBRIDGE INCENNPF595$26,9650.01%
208TOTALENERGIES SETTE435$26,7050.01%
209ISHARES TR464287598126$24,4730.01%
210PNC FINL SVCS GROUP INC693475105131$24,4210.01%
211SPDR SERIES TRUST78464A86292$23,5990.01%
212SANOFISNYNF486$23,4790.01%
213EXXON MOBIL CORPXOM216$23,2850.01%
214CHEVRON CORP NEWCVX153$21,9080.01%
215XCEL ENERGY INCXELLL319$21,7240.01%
216AMGEN INCAMGN76$21,2200.01%
217US BANCORP DELUSB-PS468$21,1770.01%
218GLOBAL X FDS37954Y673473$20,6130.01%
219BRITISH AMERN TOB PLC110448107419$19,8310.01%
220VANECK ETF TRUST92189F437649$19,0030.01%
221REALTY INCOME CORPO328$18,8960.01%
222ISHARES TR464288679164$18,1090.01%
223DUKE ENERGY CORP NEWDUKB147$17,3460.01%
224GSK PLCGLAXF433$16,6270.01%
225TRUIST FINL CORP89832Q109383$16,4650.01%
226TC ENERGY CORPTRPRF335$16,3450.01%
227TWILIO INCTWLO131$16,2910.01%
228HUNTINGTON BANCSHARES INCHBANP963$16,1400.01%
229BANK MONTREAL QUE063671101143$15,8200.01%
230AMERICAN ELEC PWR CO INC025537101149$15,4600.01%
231FIRSTENERGY CORPFE378$15,2180.01%
232GILEAD SCIENCES INCGILD135$14,9670.01%
233ISHARES TR46435U556336$13,7760.00%
234SCHWAB STRATEGIC TR808524870514$13,7140.00%
235SUPER MICRO COMPUTER INCSMCI270$13,2330.00%
236INVESCO EXCH TRADED FD TR IIIVZ712$13,1440.00%
237INVESCO EXCHANGE TRADED FD TIVZ112$12,0620.00%
238KENVUE INCKVUE539$11,2810.00%
239DIAGEO PLCDGEAF102$10,2860.00%
240AIM ETF PRODUCTS TRUST00888H877299$9,9000.00%
241ALEXANDRIA REAL ESTATE EQ IN015271109135$9,8050.00%
242ISHARES TR46435U135182$9,6840.00%
243ETF SER SOLUTIONS26922A388328$9,4270.00%
244SOUTHERN COSOMN100$9,1830.00%
245APPLIED MATLS INC03822210550$9,1540.00%
246MORGAN STANLEYMS-PQ61$8,5920.00%
247WEC ENERGY GROUP INCWEC80$8,3360.00%
248CANADIAN IMPERIAL BK COMMCNDIF111$7,8620.00%
249WILLIAMS COS INC969457100120$7,5370.00%
250LYONDELLBASELL INDUSTRIES NLYB128$7,4060.00%
251FIRST TR EXCHANGE-TRADED FD33737K20575$7,2970.00%
252DELL TECHNOLOGIES INCDELL59$7,2330.00%
253GLOBAL X FDS37954Y236384$7,1580.00%
254AMCOR PLCAMCCF778$7,1500.00%
255ISHARES TR46428886955$7,0210.00%
256AIM ETF PRODUCTS TRUST00888H794220$6,9510.00%
257PIMCO ETF TR72201R83365$6,5350.00%
258AIM ETF PRODUCTS TRUST00888H802186$6,4980.00%
259FIRST TR EXCHANGE-TRADED FD33733B10059$6,3710.00%
260SPDR INDEX SHS FDS78463X103128$6,2030.00%
261CROWDSTRIKE HLDGS INCCRWD12$6,1120.00%
262MAGNITE INCMGNI248$5,9820.00%
263FISERV INCFISV34$5,8620.00%
264AIM ETF PRODUCTS TRUST00888H505153$5,6630.00%
265J P MORGAN EXCHANGE TRADED F46641Q837111$5,6250.00%
266OREILLY AUTOMOTIVE INC67103H10760$5,4080.00%
267SIMPLIFY EXCHANGE TRADED FUN82889N657233$5,1310.00%
268TAPESTRY INCTPR54$4,7420.00%
269HOWMET AEROSPACE INCHWM24$4,4670.00%
270GENERAL MTRS CO37045V10088$4,3300.00%
271JOHNSON CTLS INTL PLCG5150210540$4,2250.00%
272ELEVATION SERIES TRUST210322509165$4,0790.00%
273ARK ETF TR00214Q302160$3,8960.00%
274ARK ETF TR00214Q70877$3,8680.00%
275COMCAST CORP NEWCCZ101$3,6050.00%
276LISTED FDS TR53656F71487$3,4660.00%
277CDW CORPCDW19$3,3930.00%
278WEATHERFORD INTL PLCG4883311864$3,2200.00%
279FIRST TR EXCHANGE TRADED FD33737A10822$3,0580.00%
280AUTOLIV INCALV27$3,0210.00%
281CLEAN HARBORS INCCLH13$3,0050.00%
282FIRST TR EXCHANGE-TRADED FD33736G106154$2,7940.00%
283GENUINE PARTS COGPC23$2,7900.00%
284TAIWAN SEMICONDUCTOR MFG LTD87403910012$2,7180.00%
285GLOBAL X FDS37954Y285246$2,6840.00%
286GLOBAL X FDS37954Y77283$2,6490.00%
287DIGITAL RLTY TR INC25386810315$2,6150.00%
288GLOBAL X FDS37954Y85568$2,6110.00%
289PIMCO ETF TR72201R57725$2,5500.00%
290ZEBRA TECHNOLOGIES CORPORATIZBRA8$2,4670.00%
291THERMO FISHER SCIENTIFIC INCTMO6$2,4330.00%
292ISHARES TR46428715018$2,4310.00%
293CATERPILLAR INCCAT6$2,3290.00%
294TESLA INCTSLA7$2,2240.00%
295MARRIOTT INTL INC NEW5719032028$2,1860.00%
296SALESFORCE INCCRM8$2,1820.00%
297ISHARES GOLD TRIAU66$2,1770.00%
298STAG INDL INC85254J10258$2,1040.00%
299REGENERON PHARMACEUTICALSREGN4$2,1000.00%
300PORTLAND GEN ELEC CO73650884748$1,9500.00%
301INVESCO ACTVELY MNGD ETC FDIVZ143$1,8650.00%
302SIMPLIFY EXCHANGE TRADED FUN82889N20246$1,7530.00%
303AIM ETF PRODUCTS TRUST00888H57063$1,7350.00%
304MSCI INCMSCI3$1,7300.00%
305ELEVATION SERIES TRUST21032260868$1,7180.00%
306ELEVATION SERIES TRUST21032240067$1,7090.00%
307MARATHON PETE CORPMARA10$1,6610.00%
308PALO ALTO NETWORKS INCPANW8$1,6370.00%
309AIM ETF PRODUCTS TRUST00888H86950$1,6010.00%
310SIMPLIFY EXCHANGE TRADED FUN82889N798118$1,5960.00%
311NORFOLK SOUTHN CORP6558441086$1,5360.00%
312ISHARES TR46435G10216$1,4420.00%
313BEST BUY INCBBY21$1,4100.00%
314NOVO-NORDISK A SNONOF20$1,3800.00%
315PIMCO ETF TR72201R78314$1,3300.00%
316SPDR SERIES TRUST78468R86165$1,2440.00%
317ISHARES TR46435U85331$1,1630.00%
318CHURCH & DWIGHT CO INCCHD12$1,1530.00%
319DBX ETF TR23305143231$1,1450.00%
320LINCOLN ELEC HLDGS INC5339001065$1,0370.00%
321ISHARES TR4642871769$9900.00%
322SPDR SERIES TRUST78468R20030$9250.00%
323SIMPLIFY EXCHANGE TRADED FUN82889N10322$9110.00%
324LISTED FDS TR53656F68021$8820.00%
325AIM ETF PRODUCTS TRUST00888H63829$8780.00%
326SIMPLIFY EXCHANGE TRADED FUN82889N30119$8510.00%
327AIM ETF PRODUCTS TRUST00888H53932$8500.00%
328AIM ETF PRODUCTS TRUST00888H54732$8410.00%
329LISTED FDS TR53656F69820$8280.00%
330RINGCENTRAL INCRNG23$6520.00%
331SOLVENTUM CORPSOLV5$3790.00%
332BAKER HUGHES COMPANYBKR8$3070.00%
333ISHARES TR46432F8342$1550.00%
334BLACKSTONE INCBX1$1500.00%
335WARNER BROS DISCOVERY INCWBD4$460.00%
336BAYTEX ENERGY CORPBTE7$130.00%
337VANECK ETF TRUST92189H8390$20.00%