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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 Q3 2025 · Filed November 13, 2025 · Accession 0001964203-25-000005

Total Value
$292.9M
Positions
316
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (316)

#IssuerTicker / CUSIPSharesValue% of Filing
1ISHARES TR464287663164,818$16.5M5.62%
2ISHARES TR46428767199,604$16.4M5.59%
3ISHARES TR464287804108,592$12.9M4.40%
4ISHARES TR464287226126,535$12.7M4.33%
5ISHARES TR464287432124,333$11.1M3.79%
6ISHARES TR46432F842112,834$9.9M3.36%
7J P MORGAN EXCHANGE TRADED F46641Q159207,837$9.6M3.29%
8INVESCO EXCHANGE TRADED FD TIVZ45,846$8.7M2.97%
9INVESCO QQQ TRIVZ12,595$7.6M2.58%
10PIMCO ETF TR72201R585217,955$5.8M2.00%
11ISHARES TR46428746562,582$5.8M1.99%
12ISHARES INC46434G10385,851$5.7M1.93%
13APPLE INCAAPL19,491$5.0M1.69%
14SPDR SERIES TRUST78468R66351,870$4.8M1.62%
15MICROSOFT CORPMSFT9,005$4.7M1.59%
16ISHARES TR4642872006,685$4.5M1.53%
17NVIDIA CORPORATIONNVDA20,337$3.8M1.30%
18ISHARES TR46428827344,437$3.4M1.16%
19ISHARES TR46434V61372,525$3.4M1.16%
20ISHARES TR46428723462,222$3.3M1.13%
21ISHARES TR46428750747,960$3.1M1.07%
22FIDELITY ETHEREUM FD31613E10361,319$2.5M0.87%
23ALPHABET INCGOOG10,249$2.5M0.85%
24J P MORGAN EXCHANGE TRADED F46654Q20340,674$2.3M0.80%
25ALIBABA GROUP HLDG LTDBBAAY12,868$2.3M0.79%
26ISHARES TR46429B67133,501$2.2M0.75%
27ISHARES TR46435G67242,985$2.2M0.75%
28J P MORGAN EXCHANGE TRADED F46641Q33238,016$2.2M0.74%
29COINBASE GLOBAL INCCOIN6,364$2.1M0.73%
30META PLATFORMS INCMETA2,860$2.1M0.72%
31ETF SER SOLUTIONS26922A32136,107$2.1M0.71%
32ISHARES TR46432F85941,624$2.0M0.69%
33JPMORGAN CHASE & CO.VYLD6,293$2.0M0.68%
34ISHARES TR46428851323,925$1.9M0.66%
35AMAZON COM INCAMZN8,530$1.9M0.64%
36BROADCOM INCAVGO5,457$1.8M0.61%
37SPDR SERIES TRUST78464A85421,786$1.7M0.58%
38PAYPAL HLDGS INCPYPL24,791$1.7M0.57%
39UNITEDHEALTH GROUP INCUNH4,790$1.7M0.56%
40ABBVIE INCABBV7,127$1.7M0.56%
41FIRST TR EXCHANGE-TRADED FD33734410511,514$1.6M0.55%
42MICRON TECHNOLOGY INCMU9,627$1.6M0.55%
43NETFLIX INCNFLX1,312$1.6M0.54%
44SELECT SECTOR SPDR TR81369Y86037,084$1.6M0.53%
45ALIGN TECHNOLOGY INCALGN12,348$1.5M0.53%
46ULTA BEAUTY INCULTA2,778$1.5M0.52%
47SEAGATE TECHNOLOGY HLDNGS PLSE6,372$1.5M0.51%
48ROKU INCROKU14,960$1.5M0.51%
49FIRST SOLAR INCFSLR6,674$1.5M0.50%
50PIMCO ETF TR72201R77515,714$1.5M0.50%
51ASML HOLDING N VASMLF1,499$1.5M0.50%
52VERIZON COMMUNICATIONS INCVZ30,830$1.4M0.46%
53COSTCO WHSL CORP NEW22160K1051,458$1.3M0.46%
54VERTIV HOLDINGS COVRT8,775$1.3M0.45%
55ADVANCED MICRO DEVICES INCAMD8,140$1.3M0.45%
56INVESCO EXCH TRADED FD TR IIIVZ5,326$1.3M0.45%
57ISHARES TR4642876555,414$1.3M0.45%
58PHILIP MORRIS INTL INC7181721097,974$1.3M0.44%
59UNITED PARCEL SERVICE INCUPS15,167$1.3M0.43%
60SELECT SECTOR SPDR TR81369Y8034,379$1.2M0.42%
61DANAHER CORPORATION2358511026,008$1.2M0.41%
62SELECT SECTOR SPDR TR81369Y2098,502$1.2M0.40%
63ALPHABET INCGOOG4,852$1.2M0.40%
64CVS HEALTH CORPCVS15,295$1.2M0.39%
65ORACLE CORPORCL-PD4,019$1.1M0.39%
66HOME DEPOT INCHD2,754$1.1M0.38%
67SPDR S&P 500 ETF TRSPY1,669$1.1M0.38%
68FIRST TR EXCHANGE TRADED FD33734X84614,393$1.1M0.37%
69ISHARES TR4642875567,457$1.1M0.37%
70MASTERCARD INCORPORATEDMA1,891$1.1M0.37%
71ELI LILLY & COLLY1,398$1.1M0.36%
72JOHNSON & JOHNSONJNJ5,671$1.1M0.36%
73SPDR SERIES TRUST78468R62210,679$1.0M0.36%
74ALTRIA GROUP INCMO15,228$1.0M0.34%
75MERCK & CO INCMRK11,967$1.0M0.34%
76QUALCOMM INCQCOM6,014$1.0M0.34%
77AT&T INCT-PC35,081$990,7020.34%
78PFIZER INCPFE38,760$987,6000.34%
79JANUS DETROIT STR TR47103U84519,076$968,7040.33%
80ZOETIS INCZTS6,465$945,9990.32%
81INTUITINTU1,381$942,9320.32%
82VANGUARD TAX-MANAGED FDS92194385815,595$934,4790.32%
83PROCTER AND GAMBLE CO7427181096,054$930,1520.32%
84LULULEMON ATHLETICA INCLULU5,007$890,8960.30%
85WALMART INCWMT8,385$864,1920.29%
86VANGUARD INDEX FDS9229087361,792$859,4690.29%
87CISCO SYS INCCSCO12,251$838,1850.29%
88SELECT SECTOR SPDR TR81369Y30810,274$805,2050.27%
89TARGET CORPTGT8,808$790,0960.27%
90VANGUARD SPECIALIZED FUNDS9219088443,568$769,8860.26%
91STARBUCKS CORPSBUX9,099$769,7790.26%
92S&P GLOBAL INCSPGI1,559$758,6620.26%
93VANGUARD INDEX FDS9229087444,037$752,8510.26%
94ISHARES INC46434G76410,725$724,0540.25%
95BANK AMERICA CORP06050510413,967$720,5700.25%
96INTUITIVE SURGICAL INCISRG1,592$711,9900.24%
97SSGA ACTIVE TR78470P40811,797$703,2190.24%
98NEXTERA ENERGY INCNEE-PW9,209$695,1670.24%
99SHERWIN WILLIAMS COSHW1,989$688,7360.24%
100PEPSICO INCPEP4,735$665,0320.23%
101INTEL CORPINTC19,623$658,3370.22%
1023M COMMM4,203$652,1720.22%
103LAM RESEARCH CORPLRCX4,865$651,4770.22%
104COCA COLA COKO9,815$650,9070.22%
105PRUDENTIAL FINL INCPUKPF6,249$648,2340.22%
106SELECT SECTOR SPDR TR81369Y4072,701$647,3400.22%
107BRISTOL-MYERS SQUIBB COCELG-RI13,919$627,7600.21%
108TEXAS INSTRS INC8825081043,367$618,6970.21%
109BANK NEW YORK MELLON CORP0640581005,327$580,4780.20%
110SPDR INDEX SHS FDS78463X88913,315$569,7490.19%
111AMERICAN TOWER CORP NEW03027X1002,921$561,8110.19%
112PROLOGIS INC.PLDGP4,898$560,9220.19%
113CRH PLCCRH4,620$553,8830.19%
114LOCKHEED MARTIN CORPLMT1,098$548,3740.19%
115INTERACTIVE BROKERS GROUP IN45841N1077,789$535,9280.18%
116AMERICAN EXPRESS COAXP1,610$534,6300.18%
117WELLS FARGO CO NEW9497461016,039$506,1820.17%
118VANGUARD WHITEHALL FDS9219467945,926$501,8090.17%
119DOMINION ENERGY INCD8,133$497,4950.17%
120SELECT SECTOR SPDR TR81369Y7043,086$476,0020.16%
121L3HARRIS TECHNOLOGIES INCLHX1,521$464,4430.16%
122ANALOG DEVICES INCADI1,881$462,1620.16%
123PULTE GROUP INC7458671013,464$457,6350.16%
124SPDR INDEX SHS FDS78463X5099,762$456,9590.16%
125VISA INCV1,333$455,2050.16%
126SPDR SERIES TRUST78468R8539,587$444,0700.15%
127IQVIA HLDGS INCIQV2,315$439,7110.15%
128SELECT SECTOR SPDR TR81369Y8523,707$438,8310.15%
129MCKESSON CORPMCK567$438,2900.15%
130GRAYSCALE ETHEREUM TRUST ETF38963810712,586$431,3220.15%
131TJX COS INC NEW8725401092,940$424,9560.15%
132PARKER-HANNIFIN CORPPH549$416,4020.14%
133ISHARES INC4642868226,068$413,8770.14%
134WORKDAY INCWDAY1,692$407,3150.14%
135VOLATILITY SHS TR92864M7983,091$401,3970.14%
136ADOBE INCADBE1,137$401,0770.14%
137UBER TECHNOLOGIES INCUBER3,972$389,1370.13%
138DELTA AIR LINES INC DELDAL6,731$381,9650.13%
139ACCENTURE PLC IRELANDACN1,522$375,3850.13%
140CARNIVAL CORPCUKPF12,880$372,3610.13%
141T-MOBILE US INCTMUSZ1,545$369,8610.13%
142SELECT SECTOR SPDR TR81369Y6056,817$367,2450.13%
143KROGER COKR5,371$362,0530.12%
144SPDR SERIES TRUST78464A5086,436$356,1040.12%
145DIAMONDBACK ENERGY INCFANG2,469$353,2710.12%
146RESTAURANT BRANDS INTL INC76131D1035,269$337,9220.12%
147SCHLUMBERGER LTDSLB9,541$327,9380.11%
148SERVICENOW INCNOW346$318,4170.11%
149SYSCO CORPSYY3,723$306,5160.10%
150PPL CORPPPLC8,226$305,6950.10%
151VANGUARD INTL EQUITY INDEX F9220428585,330$288,7870.10%
152DISNEY WALT CO2546871062,495$285,6240.10%
153KIMBERLY-CLARK CORPKMB2,233$277,7080.09%
154IRON MTN INC DEL46284V1012,692$274,3790.09%
155CENTERPOINT ENERGY INCCNP6,690$259,5790.09%
156ALLSTATE CORPALL-PJ1,092$234,3980.08%
157EA SERIES TRUST02072L5651,949$221,9130.08%
158KEURIG DR PEPPER INCKDP8,556$218,2680.07%
159VANGUARD INDEX FDS922908751849$215,9510.07%
160GAMING & LEISURE PPTYS INC36467J1084,554$212,2640.07%
161SPDR SERIES TRUST78468R4407,287$208,7730.07%
162VANGUARD CHARLOTTE FDS92203J4074,127$204,1210.07%
163SPDR SERIES TRUST78468R4087,412$189,7560.06%
164VANGUARD BD INDEX FDS9219378272,323$183,3080.06%
165SPDR SERIES TRUST78464A8472,814$160,9330.05%
166SPDR GOLD TRGLD384$136,5000.05%
167FIRST TR EXCHNG TRADED FD VI33740F7554,055$135,5180.05%
168SPDR INDEX SHS FDS78463X8713,175$127,5720.04%
169VANGUARD SCOTTSDALE FDS92206C7712,297$107,8670.04%
170GRAYSCALE ETHEREUM MINI TR E38964R2032,566$100,5360.03%
171CLOUDFLARE INCNET456$97,8530.03%
172VANGUARD BD INDEX FDS9219378191,245$97,2220.03%
173ISHARES ETHEREUM TR46438R1052,952$93,0180.03%
174VANGUARD BD INDEX FDS9219377931,294$91,6800.03%
175SPDR SERIES TRUST78464A6493,425$88,5360.03%
176SSGA ACTIVE ETF TR78467V6082,026$84,2280.03%
177SPDR SERIES TRUST78468R5153,300$83,1370.03%
178SPDR SERIES TRUST78464A409750$78,3830.03%
179FIRST TR EXCHANGE-TRADED FD33733E104829$77,6280.03%
180SPDR SERIES TRUST78464A102284$77,3130.03%
181FIRST TR EXCHANGE TRADED FD33738R118735$72,4640.02%
182FIDELITY WISE ORIGIN BITCOINFBTC533$53,1990.02%
183FIRST TR EXCHNG TRADED FD VI33740F8051,004$44,5980.02%
184SPDR SERIES TRUST78464A3912,005$42,8270.01%
185VANGUARD INDEX FDS922908553382$34,9220.01%
186ENBRIDGE INCENNPF594$29,9730.01%
187ISHARES TR464287481208$29,6210.01%
188VANGUARD WHITEHALL FDS921946406208$29,3180.01%
189TOTALENERGIES SETTE484$28,8900.01%
190SHARPLINK GAMING INCSBET1,680$28,5720.01%
191NATIONAL GRID PLCNMPWP383$27,8330.01%
192PNC FINL SVCS GROUP INC693475105135$27,1260.01%
193US BANCORP DELUSB-PS558$26,9680.01%
194XCEL ENERGY INCXELLL318$25,6470.01%
195BRITISH AMERN TOB PLC110448107468$24,8410.01%
196CHEVRON CORP NEWCVX153$23,7590.01%
197SANOFI SASNYNF488$23,0340.01%
198EXXON MOBIL CORPXOM202$22,7760.01%
199TRUIST FINL CORP89832Q109488$22,3110.01%
200AMGEN INCAMGN79$22,2940.01%
201REALTY INCOME CORPO327$19,8780.01%
202FIRSTENERGY CORPFE431$19,7480.01%
203VANECK ETF TRUST92189F437649$19,2950.01%
204BANK MONTREAL QUE063671101143$18,6260.01%
205ISHARES TR46428943868$18,6080.01%
206DUKE ENERGY CORP NEWDUKB147$18,1910.01%
207TC ENERGY CORPTRPRF334$18,1730.01%
208GSK PLCGLAXF420$18,1270.01%
209ISHARES TR464288679164$18,1200.01%
210HUNTINGTON BANCSHARES INCHBANP988$17,0630.01%
211AMCOR PLCAMCCF2,085$17,0550.01%
212AMERICAN ELEC PWR CO INC025537101147$16,5380.01%
213SCHWAB STRATEGIC TR808524870514$13,8520.00%
214APPLIED MATLS INC03822210565$13,3080.00%
215INVESCO EXCH TRADED FD TR IIIVZ712$13,2290.00%
216ISHARES TR46428759861$12,4190.00%
217TWILIO INCTWLO122$12,2110.00%
218AIM ETF PRODUCTS TRUST00888H661389$11,9850.00%
219ALEXANDRIA REAL ESTATE EQ IN015271109135$11,2510.00%
220GILEAD SCIENCES INCGILD100$11,1000.00%
221GLOBAL X FDS37954Y673228$10,8600.00%
222DIAGEO PLCDGEAF102$9,7340.00%
223WEC ENERGY GROUP INCWEC81$9,2820.00%
224TAIWAN SEMICONDUCTOR MFG LTD87403910032$8,9370.00%
225SSGA ACTIVE TR78470P507337$8,7810.00%
226DELL TECHNOLOGIES INCDELL59$8,3640.00%
227ISHARES TR46428886955$8,2000.00%
228SPDR SERIES TRUST78464A367353$8,1610.00%
229ISHARES TR46435U556169$7,7370.00%
230WILLIAMS COS INC969457100122$7,7290.00%
231SUPER MICRO COMPUTER INCSMCI160$7,6700.00%
232SOUTHERN COSOMN78$7,3920.00%
233AIM ETF PRODUCTS TRUST00888H794221$7,2910.00%
234AIM ETF PRODUCTS TRUST00888H687212$6,6580.00%
235PIMCO ETF TR72201R83365$6,5450.00%
236INVESCO EXCHANGE TRADED FD TIVZ57$6,4760.00%
237OREILLY AUTOMOTIVE INC67103H10760$6,4690.00%
238SPDR INDEX SHS FDS78463X103128$6,3760.00%
239HANESBRANDS INC410345102925$6,0960.00%
240ELEVATION SERIES TRUST210322509244$6,0200.00%
241CROWDSTRIKE HLDGS INCCRWD12$5,8850.00%
242AIM ETF PRODUCTS TRUST00888H406150$5,7610.00%
243SIMPLIFY EXCHANGE TRADED FUN82889N657263$5,7470.00%
244J P MORGAN EXCHANGE TRADED F46641Q837111$5,6310.00%
245GENERAL MTRS CO37045V10088$5,3650.00%
246DOMINOS PIZZA INCDPZ12$5,1810.00%
247ISHARES TR46435U13590$4,7100.00%
248MP MATERIALS CORPMP70$4,6950.00%
249TAPESTRY INCTPR41$4,6420.00%
250AIM ETF PRODUCTS TRUST00888H521168$4,5160.00%
251SPDR SERIES TRUST78464A87044$4,4090.00%
252PIMCO ETF TR72201R57743$4,3110.00%
253GENUINE PARTS COGPC29$4,0190.00%
254GLOBAL X FDS37954Y236193$3,9530.00%
255JOHNSON CTLS INTL PLCG5150210535$3,8480.00%
256FIRST TR EXCHANGE-TRADED FD33737K20536$3,7290.00%
257HOWMET AEROSPACE INCHWM19$3,7280.00%
258ELEVATION SERIES TRUST21032279887$3,6830.00%
259ELEVATION SERIES TRUST210322608135$3,5790.00%
260AUTOLIV INCALV27$3,3350.00%
261FIRST TR EXCHANGE-TRADED FD33733B10029$3,2580.00%
262ISHARES TR46428715022$3,2040.00%
263MAGNITE INCMGNI147$3,2020.00%
264COMCAST CORP NEWCCZ101$3,1730.00%
265SPDR SERIES TRUST78464A664117$3,1530.00%
266TESLA INCTSLA7$3,1130.00%
267CDW CORPCDW19$3,0260.00%
268SPDR SERIES TRUST78464A37586$2,9150.00%
269THERMO FISHER SCIENTIFIC INCTMO6$2,9100.00%
270CATERPILLAR INCCAT6$2,8630.00%
271DIGITAL RLTY TR INC25386810315$2,5930.00%
272FISERV INCFISV20$2,5790.00%
273ISHARES GOLD TRIAU66$2,5410.00%
274ZEBRA TECHNOLOGIES CORPORATIZBRA8$2,3770.00%
275REGENERON PHARMACEUTICALSREGN4$2,2490.00%
276FERGUSON ENTERPRISES INCFERG10$2,2460.00%
277BOSTON SCIENTIFIC CORPBSX22$2,1480.00%
278PORTLAND GEN ELEC CO73650884748$2,1120.00%
279STAG INDL INC85254J10258$2,0470.00%
280CHIPOTLE MEXICAN GRILL INCCMG50$1,9600.00%
281MARATHON PETE CORPMARA10$1,9270.00%
282INVESCO ACTVELY MNGD ETC FDIVZ143$1,9200.00%
283SALESFORCE INCCRM8$1,8960.00%
284GLOBAL X FDS37954Y85533$1,8760.00%
285ELEVATION SERIES TRUST21032276445$1,8330.00%
286SIMPLIFY EXCHANGE TRADED FUN82889N20246$1,8270.00%
287MSCI INCMSCI3$1,7020.00%
288ARK ETF TR00214Q30261$1,6940.00%
289FIRST TR EXCHANGE TRADED FD33737A10811$1,6620.00%
290CORNING INCGLW20$1,6410.00%
291PALO ALTO NETWORKS INCPANW8$1,6290.00%
292ISHARES TR46435G10216$1,6010.00%
293BEST BUY INCBBY21$1,5880.00%
294FIRST TR EXCHANGE-TRADED FD33736G10680$1,5370.00%
295GLOBAL X FDS37954Y77241$1,3720.00%
296PIMCO ETF TR72201R78314$1,3400.00%
297GLOBAL X FDS37954Y13740$1,2780.00%
298SPDR SERIES TRUST78468R86164$1,2350.00%
299OCCIDENTAL PETE CORP67459910525$1,1810.00%
300ISHARES TR46435U85331$1,1710.00%
301DBX ETF TR23305143231$1,1500.00%
302NOVO-NORDISK A SNONOF20$1,1100.00%
303CHURCH & DWIGHT CO INCCHD12$1,0520.00%
304MARRIOTT INTL INC NEW5719032024$1,0420.00%
305ISHARES TR4642871769$1,0010.00%
306SIMPLIFY EXCHANGE TRADED FUN82889N10322$9470.00%
307AIM ETF PRODUCTS TRUST00888H57032$9360.00%
308SPDR SERIES TRUST78468R20030$9260.00%
309NORFOLK SOUTHN CORP6558441083$9010.00%
310CORTEVA INCCTVA10$6760.00%
311SOLVENTUM CORPSOLV5$3650.00%
312BLACKSTONE INCBX1$1710.00%
313ISHARES TR46432F8342$1650.00%
314WARNER BROS DISCOVERY INCWBD4$780.00%
315BAYTEX ENERGY CORPBTE7$160.00%
316VANECK ETF TRUST92189H8390$20.00%