13F HOLDINGS REPORT
PAPP L ROY & ASSOCIATES
Quarter ended Q4 2025 · Filed January 28, 2026 · Accession 0002085853-26-000127
Total Value
$904.5M
Positions
185
Other Managers
0
Confidential Omitted
No
Holdings (185)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | APPLE INC | AAPL | 233,943 | $63.6M | 7.03% |
| 2 | MICROSOFT CORP | MSFT | 117,289 | $56.7M | 6.27% |
| 3 | ALPHABET INC | GOOG | 168,150 | $52.8M | 5.83% |
| 4 | BLACKROCK INC | BLK | 36,442 | $39.0M | 4.31% |
| 5 | VISA INC | V | 101,419 | $35.6M | 3.93% |
| 6 | ALPHABET INC | GOOG | 106,511 | $33.3M | 3.69% |
| 7 | OREILLY AUTOMOTIVE INC | 67103H107 | 342,247 | $31.2M | 3.45% |
| 8 | ACCENTURE PLC IRELAND | ACN | 112,516 | $30.2M | 3.34% |
| 9 | THERMO FISHER SCIENTIFIC INC | TMO | 51,516 | $29.9M | 3.30% |
| 10 | JOHNSON & JOHNSON | JNJ | 118,358 | $24.5M | 2.71% |
| 11 | EXPEDITORS INTL WASH INC | 302130109 | 163,041 | $24.3M | 2.69% |
| 12 | STRYKER CORPORATION | SYK | 64,681 | $22.7M | 2.51% |
| 13 | HOME DEPOT INC | HD | 62,011 | $21.3M | 2.36% |
| 14 | COSTCO WHSL CORP NEW | 22160K105 | 24,630 | $21.2M | 2.35% |
| 15 | EOG RES INC | EOG | 182,818 | $19.2M | 2.12% |
| 16 | SPDR SERIES TRUST | 78464A870 | 136,229 | $16.6M | 1.84% |
| 17 | METTLER TOLEDO INTERNATIONAL | MTD | 10,635 | $14.8M | 1.64% |
| 18 | MASTERCARD INCORPORATED | MA | 25,471 | $14.5M | 1.61% |
| 19 | CANADIAN NATL RY CO | 136375102 | 131,724 | $13.0M | 1.44% |
| 20 | INVESCO EXCHANGE TRADED FD T | IVZ | 64,880 | $12.4M | 1.37% |
| 21 | EXXON MOBIL CORP | XOM | 89,961 | $10.8M | 1.20% |
| 22 | ANALOG DEVICES INC | ADI | 38,609 | $10.5M | 1.16% |
| 23 | MARVELL TECHNOLOGY INC | MRVL | 120,839 | $10.3M | 1.14% |
| 24 | ECOLAB INC | ECL | 36,466 | $9.6M | 1.06% |
| 25 | PROCTER AND GAMBLE CO | 742718109 | 66,223 | $9.5M | 1.05% |
| 26 | AMETEK INC | AME | 45,371 | $9.3M | 1.03% |
| 27 | SELECT SECTOR SPDR TR | 81369Y803 | 62,102 | $8.9M | 0.99% |
| 28 | ROCKWELL AUTOMATION INC | ROK | 22,468 | $8.7M | 0.97% |
| 29 | JPMORGAN CHASE & CO. | VYLD | 26,399 | $8.5M | 0.94% |
| 30 | ISHARES TR | 46429B697 | 79,084 | $7.4M | 0.82% |
| 31 | NVIDIA CORPORATION | NVDA | 38,631 | $7.2M | 0.80% |
| 32 | EMERSON ELEC CO | EMR | 54,203 | $7.2M | 0.80% |
| 33 | PEPSICO INC | PEP | 49,264 | $7.1M | 0.78% |
| 34 | PRICE T ROWE GROUP INC | TROW | 68,230 | $7.0M | 0.77% |
| 35 | WEYERHAEUSER CO MTN BE | WY | 272,920 | $6.5M | 0.71% |
| 36 | TRIMBLE INC | TRMB | 77,801 | $6.1M | 0.67% |
| 37 | VALMONT INDS INC | 920253101 | 14,506 | $5.8M | 0.65% |
| 38 | BERKSHIRE HATHAWAY INC DEL | BRK-A | 11,297 | $5.7M | 0.63% |
| 39 | CHEVRON CORP NEW | CVX | 37,003 | $5.6M | 0.62% |
| 40 | RBC BEARINGS INC | RBC | 12,171 | $5.5M | 0.60% |
| 41 | INTUIT | INTU | 8,124 | $5.4M | 0.59% |
| 42 | FACTSET RESH SYS INC | 303075105 | 17,574 | $5.1M | 0.56% |
| 43 | WASTE CONNECTIONS INC | WCN | 27,178 | $4.8M | 0.53% |
| 44 | NXP SEMICONDUCTORS N V | NXPI | 20,498 | $4.4M | 0.49% |
| 45 | SCHWAB STRATEGIC TR | 808524862 | 176,047 | $4.3M | 0.47% |
| 46 | RESMED INC | RSMDF | 16,500 | $4.0M | 0.44% |
| 47 | SCHWAB STRATEGIC TR | 808524102 | 142,359 | $3.7M | 0.41% |
| 48 | VANGUARD SPECIALIZED FUNDS | 921908844 | 16,658 | $3.7M | 0.40% |
| 49 | ISHARES TR | 464288646 | 67,605 | $3.6M | 0.40% |
| 50 | VANGUARD WORLD FD | 92204A702 | 4,374 | $3.3M | 0.36% |
| 51 | VANGUARD INDEX FDS | 922908736 | 6,042 | $2.9M | 0.33% |
| 52 | AMAZON COM INC | AMZN | 12,751 | $2.9M | 0.33% |
| 53 | CATERPILLAR INC | CAT | 5,118 | $2.9M | 0.32% |
| 54 | WASTE MGMT INC DEL | 94106L109 | 13,212 | $2.9M | 0.32% |
| 55 | ADOBE INC | ADBE | 7,763 | $2.7M | 0.30% |
| 56 | VANGUARD INDEX FDS | 922908769 | 7,994 | $2.7M | 0.30% |
| 57 | PEGASYSTEMS INC | PEGA | 44,443 | $2.7M | 0.29% |
| 58 | MCCORMICK & CO INC | MKC-V | 38,042 | $2.6M | 0.29% |
| 59 | RTX CORPORATION | RTX | 14,022 | $2.6M | 0.28% |
| 60 | MCDONALDS CORP | MCD | 8,163 | $2.5M | 0.28% |
| 61 | AUTOMATIC DATA PROCESSING IN | ADP | 9,602 | $2.5M | 0.27% |
| 62 | IDEX CORP | 45167R104 | 13,409 | $2.4M | 0.26% |
| 63 | CISCO SYS INC | CSCO | 30,795 | $2.4M | 0.26% |
| 64 | YETI HLDGS INC | YETI | 53,095 | $2.3M | 0.26% |
| 65 | SHERWIN WILLIAMS CO | SHW | 6,960 | $2.3M | 0.25% |
| 66 | COSTAR GROUP INC | CSGP | 33,254 | $2.2M | 0.25% |
| 67 | AMGEN INC | AMGN | 6,457 | $2.1M | 0.23% |
| 68 | COCA COLA CO | KO | 28,980 | $2.0M | 0.22% |
| 69 | ENTERPRISE PRODS PARTNERS L | 293792107 | 61,845 | $2.0M | 0.22% |
| 70 | BIO-TECHNE CORP | TECH | 32,727 | $1.9M | 0.21% |
| 71 | WALMART INC | WMT | 17,021 | $1.9M | 0.21% |
| 72 | NIKE INC | NKE | 28,872 | $1.8M | 0.20% |
| 73 | MICROCHIP TECHNOLOGY INC. | MCHPP | 28,019 | $1.8M | 0.20% |
| 74 | SYSCO CORP | SYY | 24,132 | $1.8M | 0.20% |
| 75 | AMERICAN EXPRESS CO | AXP | 4,779 | $1.8M | 0.20% |
| 76 | CHURCH & DWIGHT CO INC | CHD | 20,720 | $1.7M | 0.19% |
| 77 | VANGUARD MALVERN FDS | 922020805 | 34,697 | $1.7M | 0.19% |
| 78 | ABBVIE INC | ABBV | 7,499 | $1.7M | 0.19% |
| 79 | ORACLE CORP | ORCL-PD | 8,421 | $1.6M | 0.18% |
| 80 | ELI LILLY & CO | LLY | 1,517 | $1.6M | 0.18% |
| 81 | INTERNATIONAL BUSINESS MACHS | INTR | 5,122 | $1.5M | 0.17% |
| 82 | STATE STR CORP | STT-PG | 10,872 | $1.4M | 0.16% |
| 83 | CLOROX CO DEL | CLX | 13,616 | $1.4M | 0.15% |
| 84 | SPDR S&P 500 ETF TR | SPY | 1,983 | $1.4M | 0.15% |
| 85 | PERMIAN RESOURCES CORP | PR | 96,205 | $1.3M | 0.15% |
| 86 | SYNOPSYS INC | SNPS | 2,860 | $1.3M | 0.15% |
| 87 | SELECT SECTOR SPDR TR | 81369Y506 | 29,888 | $1.3M | 0.15% |
| 88 | COLGATE PALMOLIVE CO | CL | 16,643 | $1.3M | 0.15% |
| 89 | DYNATRACE INC | DT | 29,635 | $1.3M | 0.14% |
| 90 | ISHARES SILVER TR | SLV | 19,000 | $1.2M | 0.14% |
| 91 | EASTGROUP PPTYS INC | 277276101 | 6,378 | $1.1M | 0.13% |
| 92 | SILICON LABORATORIES INC | SLAB | 8,650 | $1.1M | 0.12% |
| 93 | META PLATFORMS INC | META | 1,711 | $1.1M | 0.12% |
| 94 | TESLA INC | TSLA | 2,438 | $1.1M | 0.12% |
| 95 | LINDE PLC | LIN | 2,470 | $1.1M | 0.12% |
| 96 | ABBOTT LABS | ABLZF | 7,927 | $993,174 | 0.11% |
| 97 | KINDER MORGAN INC DEL | EP-PC | 35,414 | $973,542 | 0.11% |
| 98 | ISHARES TR | 46429B747 | 9,400 | $962,466 | 0.11% |
| 99 | VANGUARD SCOTTSDALE FDS | 92206C409 | 11,900 | $948,787 | 0.10% |
| 100 | MERCK & CO INC | MRK | 8,774 | $923,527 | 0.10% |
| 101 | VANGUARD INDEX FDS | 922908629 | 2,912 | $845,115 | 0.09% |
| 102 | VALVOLINE INC | VVV | 29,035 | $843,758 | 0.09% |
| 103 | SPDR GOLD TR | GLD | 2,038 | $807,680 | 0.09% |
| 104 | SCHWAB STRATEGIC TR | 808524201 | 28,721 | $772,883 | 0.09% |
| 105 | ISHARES TR | 464287200 | 1,068 | $731,516 | 0.08% |
| 106 | WABTEC | 929740108 | 3,376 | $720,706 | 0.08% |
| 107 | ROSS STORES INC | ROST | 4,000 | $720,560 | 0.08% |
| 108 | NORFOLK SOUTHN CORP | 655844108 | 2,494 | $720,068 | 0.08% |
| 109 | FIRST SOLAR INC | FSLR | 2,742 | $716,293 | 0.08% |
| 110 | SPDR INDEX SHS FDS | 78463X301 | 5,150 | $714,666 | 0.08% |
| 111 | ISHARES TR | 464287481 | 5,093 | $697,424 | 0.08% |
| 112 | VANGUARD INDEX FDS | 922908744 | 3,592 | $685,978 | 0.08% |
| 113 | WELLS FARGO CO NEW | 949746101 | 7,310 | $681,292 | 0.08% |
| 114 | FISERV INC | FISV | 10,017 | $672,842 | 0.07% |
| 115 | SCHWAB STRATEGIC TR | 808524300 | 20,412 | $665,840 | 0.07% |
| 116 | MEDTRONIC PLC | MDT | 6,734 | $646,869 | 0.07% |
| 117 | ICON PLC | ICLR | 3,549 | $646,699 | 0.07% |
| 118 | IQVIA HLDGS INC | IQV | 2,859 | $644,448 | 0.07% |
| 119 | HONEYWELL INTL INC | 438516106 | 3,303 | $644,383 | 0.07% |
| 120 | KROGER CO | KR | 9,815 | $613,242 | 0.07% |
| 121 | POOL CORP | POOL | 2,656 | $607,560 | 0.07% |
| 122 | ISHARES TR | 464288158 | 5,350 | $570,845 | 0.06% |
| 123 | FIRST HORIZON CORPORATION | FHN-PH | 23,341 | $557,850 | 0.06% |
| 124 | INVESCO QQQ TR | IVZ | 901 | $553,494 | 0.06% |
| 125 | GE AEROSPACE | 369604301 | 1,772 | $545,830 | 0.06% |
| 126 | INTEL CORP | INTC | 14,456 | $533,427 | 0.06% |
| 127 | VANGUARD INTL EQUITY INDEX F | 922042742 | 3,767 | $531,350 | 0.06% |
| 128 | DISNEY WALT CO | 254687106 | 4,584 | $521,525 | 0.06% |
| 129 | VANGUARD INDEX FDS | 922908652 | 2,447 | $511,655 | 0.06% |
| 130 | APPLIED MATLS INC | 038222105 | 1,970 | $506,271 | 0.06% |
| 131 | WW GRAINGER INC | 384802104 | 498 | $502,507 | 0.06% |
| 132 | BECTON DICKINSON & CO | BDX | 2,558 | $496,432 | 0.05% |
| 133 | ISHARES TR | 46432F339 | 2,461 | $488,804 | 0.05% |
| 134 | DIAMONDBACK ENERGY INC | FANG | 3,174 | $477,148 | 0.05% |
| 135 | J P MORGAN EXCHANGE TRADED F | 46654Q559 | 9,259 | $464,987 | 0.05% |
| 136 | UMB FINL CORP | 902788108 | 4,030 | $463,612 | 0.05% |
| 137 | ISHARES TR | 46432F396 | 1,845 | $461,822 | 0.05% |
| 138 | VANGUARD WHITEHALL FDS | 921946406 | 3,191 | $458,043 | 0.05% |
| 139 | BRISTOL-MYERS SQUIBB CO | CELG-RI | 8,176 | $441,016 | 0.05% |
| 140 | VANGUARD MUN BD FDS | 922907746 | 8,668 | $435,914 | 0.05% |
| 141 | FIRST TR EXCHANGE-TRADED ALP | 33733F101 | 2,596 | $420,169 | 0.05% |
| 142 | ARISTA NETWORKS INC | ANET | 3,010 | $394,401 | 0.04% |
| 143 | IDEXX LABS INC | 45168D104 | 570 | $385,623 | 0.04% |
| 144 | ISHARES TR | 464287150 | 2,488 | $369,941 | 0.04% |
| 145 | NEXTERA ENERGY INC | NEE-PW | 4,596 | $368,967 | 0.04% |
| 146 | GE VERNOVA INC | GEV | 531 | $347,046 | 0.04% |
| 147 | VANGUARD INDEX FDS | 922908363 | 553 | $346,553 | 0.04% |
| 148 | SPDR SERIES TRUST | 78468R739 | 7,080 | $339,770 | 0.04% |
| 149 | CSX CORP | CSX | 9,300 | $337,125 | 0.04% |
| 150 | VANGUARD INDEX FDS | 922908751 | 1,287 | $331,871 | 0.04% |
| 151 | PFIZER INC | PFE | 13,203 | $328,755 | 0.04% |
| 152 | TJX COS INC NEW | 872540109 | 2,105 | $323,350 | 0.04% |
| 153 | DEVON ENERGY CORP NEW | 25179M103 | 8,720 | $319,408 | 0.04% |
| 154 | FIRST TR EXCHANGE TRADED FD | 33734X176 | 1,843 | $310,141 | 0.03% |
| 155 | ISHARES TR | 464287861 | 4,500 | $308,700 | 0.03% |
| 156 | LOWES COS INC | 548661107 | 1,269 | $306,033 | 0.03% |
| 157 | FIRST TR EXCHANGE-TRADED FD | 33733E104 | 3,260 | $301,588 | 0.03% |
| 158 | VANGUARD INDEX FDS | 922908538 | 1,077 | $300,555 | 0.03% |
| 159 | ODYSSEY MARINE EXPL INC | OMEX | 152,461 | $298,824 | 0.03% |
| 160 | DUKE ENERGY CORP NEW | DUKB | 2,490 | $291,853 | 0.03% |
| 161 | VANGUARD STAR FDS | 921909768 | 3,854 | $290,724 | 0.03% |
| 162 | CRH PLC | CRH | 2,300 | $287,040 | 0.03% |
| 163 | ISHARES INC | 46434G822 | 3,555 | $287,031 | 0.03% |
| 164 | UNITED PARCEL SERVICE INC | UPS | 2,880 | $285,668 | 0.03% |
| 165 | ZOETIS INC | ZTS | 2,221 | $279,447 | 0.03% |
| 166 | CINCINNATI FINL CORP | 172062101 | 1,688 | $275,685 | 0.03% |
| 167 | FIRST TR EXCHANGE TRADED FD | 33734X192 | 2,004 | $260,681 | 0.03% |
| 168 | VANGUARD INDEX FDS | 922908611 | 1,225 | $259,530 | 0.03% |
| 169 | UNION PAC CORP | UNP | 1,105 | $255,609 | 0.03% |
| 170 | AUTOZONE INC | AZO | 75 | $254,363 | 0.03% |
| 171 | STARBUCKS CORP | SBUX | 2,994 | $252,125 | 0.03% |
| 172 | SCHWAB CHARLES CORP | SCHW-PJ | 2,522 | $252,020 | 0.03% |
| 173 | GLOBAL X FDS | 37954Y483 | 14,213 | $251,144 | 0.03% |
| 174 | NORTHROP GRUMMAN CORP | NOC | 432 | $246,086 | 0.03% |
| 175 | SCHWAB STRATEGIC TR | 808524797 | 8,595 | $235,761 | 0.03% |
| 176 | NORTHERN TR CORP | NTRSO | 1,724 | $235,482 | 0.03% |
| 177 | BANK NEW YORK MELLON CORP | 064058100 | 2,000 | $232,180 | 0.03% |
| 178 | CAPITAL ONE FINL CORP | 14040H105 | 952 | $230,727 | 0.03% |
| 179 | ISHARES TR | 464287655 | 917 | $225,729 | 0.02% |
| 180 | SPDR SERIES TRUST | 78464A631 | 923 | $222,665 | 0.02% |
| 181 | FULLER H B CO | FUL | 3,740 | $222,381 | 0.02% |
| 182 | VANECK ETF TRUST | 92189F676 | 600 | $216,078 | 0.02% |
| 183 | RIO TINTO PLC | RTNTF | 2,550 | $204,077 | 0.02% |
| 184 | BARRETT BUSINESS SVCS INC | 068463108 | 5,630 | $203,863 | 0.02% |
| 185 | MERCADOLIBRE INC | MELI | 100 | $201,426 | 0.02% |