Richard W. Paul & Associates, LLC

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CIK 1964203

13F portfolio (2026-Q1)

$297M

Positions

300

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

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As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

300

Top 5

22.7%

Top 10

35.1%

Effective N

52.3

HHI

0.019

This quarter

13 new · 1 exit →

By sector

Unclassified66.7%

Information Technology8.8%

Financials4.6%

Industrials4.0%

Health Care4.0%

Consumer Discretionary3.9%

Communication Services3.5%

Consumer Staples2.0%

Other2.4%

By market cap

Unknown67.8%

Mega (>$200B)15.9%

Large ($10–200B)15.3%

Small ($300M–2B)0.6%

Mid ($2–10B)0.4%

By region

Other66.7%

North America32.3%

Europe0.6%

Asia-Pacific0.4%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	66.72%	124
Semiconductors & Semiconductor Equipment	3.96%	12
Specialty Retail	3.17%	10
Technology Hardware & Equipment	2.88%	7
Pharmaceuticals & Biotechnology	2.88%	11
Commercial Services & Supplies	2.50%	9
Banks	2.42%	14
Software & IT Services	1.78%	4
Software	1.70%	9
Diversified Telecommunication Services	1.13%	3
Utilities	1.10%	12
Tobacco	1.05%	3
Health Care Equipment & Supplies	0.96%	5
Machinery	0.83%	6
Insurance	0.76%	4
Chemicals	0.58%	3
Beverages	0.55%	3
Road & Rail	0.51%	1
Media & Entertainment	0.51%	3
Marine	0.51%	2
Capital Markets	0.47%	5
Aerospace & Defense	0.38%	2
Textiles, Apparel & Luxury Goods	0.38%	3
Equity Real Estate Investment Trusts (REITs)	0.36%	5
Food & Staples Retailing	0.35%	2
Oil, Gas & Consumable Fuels	0.34%	9
Communications Equipment	0.28%	1
Distributors	0.24%	5
Airlines	0.14%	1
Hotels, Restaurants & Leisure	0.13%	4
Construction & Engineering	0.12%	1
Life Sciences Tools & Services	0.12%	1
Food Products	0.09%	2
Entertainment	0.08%	2
Professional Services	0.01%	1
Leisure Products	0.01%	1
Paper & Forest Products	0.01%	1
Automobiles & Components	0.00%	3
Metals & Mining	0.00%	3
Construction Materials	0.00%	1
Industrial Conglomerates	0.00%	1
Agricultural Products	0.00%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	IUSV	ISHARES TR	Unclassified	6.27%
2	IUSG	ISHARES TR	Unclassified	5.26%
3	TLT	ISHARES TR	Unclassified	3.98%
4	JPIE	J P MORGAN EXCHANGE TRADED F	Unclassified	3.64%
5	IEFA	ISHARES TR	Unclassified	3.53%
6	IJR	ISHARES TR	Unclassified	2.90%
7	PYLD	PIMCO MULTISECTOR BOND ACTIVE EXCHANGE-TRADED FUND	Unclassified	2.55%
8	RSP	INVESCO EXCHANGE TRADED FD T	Unclassified	2.47%
9	AGG	ISHARES TR	Unclassified	2.30%
10	QQQ	INVESCO QQQ TR	Unclassified	2.23%

176/300 names classified · sector 33.3% of weight · industry 33.3% · mkt cap 32.2%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 14 quarters

Information TechnologyAAPL, MSFT, NVDA, AVGO, ADBE · other

Consumer DiscretionaryAMZN, COST, ULTA, HD, TSLA · other

FinancialsCOIN, JPM, PYPL, UNH, FETH · other

Communication ServicesMETA, GOOG, NFLX, VZ, GOOGL · other

Health CareABBV, MRK, JNJ, PFE, ALGN · other

IndustrialsBABA, UPS, ACN, ASML, NCLH · other

Consumer StaplesPM, MO, KO, PEP, CVS · other

MaterialsPG, ALB, KMB, LIN, CRH · other

UtilitiesNEE, D, DTE, PPL, ES · other

Real EstateAMT, PLD, IRM, DLR, GLPI · other

EnergyMPC, FANG, SLB, XOM, OVV · other

UnclassifiedIUSV, IUSG, IJR, AGG, BIL · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 33.3% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 32% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (156 classified)Richard W. Paul & Associates, LLC centroid (Large Core)

Information TechnologyFinancialsHealth CareConsumer DiscretionaryCommunication ServicesIndustrialsConsumer StaplesUtilitiesMaterialsReal EstateEnergy

Style box summary for Richard W. Paul & Associates, LLC: centroid Large Core. Heaviest cells: Large Growth 10.9%, Large Value 7.2%, Large Core 6.3%.

Classified: 31.6% of book weight (156/300 names) · unclassified 68.4%: IUSV, IUSG, TLT, JPIE, IEFA, IJR, PYLD, RSP, AGG, QQQ +134 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 300 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	IUSVISHARES TR	182,128	$19M	6.3%	ADD 4%
2	IUSGISHARES TR	100,734	$16M	5.3%	TRIM −2%
3	TLTISHARES TR	136,243	$12M	4.0%	ADD 5%
4	JPIEJ P MORGAN EXCHANGE TRADED F	234,753	$11M	3.6%	ADD 4%
5	IEFAISHARES TR	115,797	$10M	3.5%	TRIM −3%
6	IJRISHARES TR	69,236	$9M	2.9%	TRIM −38%
7	PYLDPIMCO MULTISECTOR BOND ACTIVE EXCHANGE-TRADED FUND	289,287	$8M	2.6%	ADD 4%
8	RSPINVESCO EXCHANGE TRADED FD T	38,282	$7M	2.5%	HOLD
9	AGGISHARES TR	68,830	$7M	2.3%	TRIM −55%
10	QQQINVESCO QQQ TR	11,465	$7M	2.2%	HOLD
11	BONDPIMCO ETF TR	70,998	$7M	2.2%	ADD 263%
12	EFAISHARES TR	62,361	$6M	2.0%	HOLD
13	IEMGISHARES INC	83,842	$6M	2.0%	TRIM −6%
14	FESMFIDELITY COVINGTON TRUST	142,132	$5M	1.8%	NEW
15	AAPLAPPLE INC	18,195	$5M	1.6%	HOLD
16	FBNDFIDELITY TOTAL BOND ETF	96,600	$4M	1.5%	NEW
17	IVVISHARES TR	6,396	$4M	1.4%	TRIM −7%
18	IUSBISHARES TR	89,575	$4M	1.4%	ADD 11%
19	SCZISHARES TR	46,446	$4M	1.2%	HOLD
20	MSFTMICROSOFT CORP	9,649	$4M	1.2%	ADD 3%
21	VYMIVANGUARD WHITEHALL FDS	36,790	$3M	1.2%	TRIM −2%
22	NVDANVIDIA CORPORATION	19,618	$3M	1.2%	HOLD
23	IJHISHARES TR	47,708	$3M	1.1%	HOLD
24	EEMISHARES TR	56,427	$3M	1.1%	HOLD
25	IAGGISHARES TR	54,823	$3M	0.9%	ADD 15%
26	ISTBISHARES TR	52,204	$3M	0.9%	ADD 12%
27	VYMVANGUARD WHITEHALL FDS	15,046	$2M	0.7%	HOLD
28	BUFDFIRST TR EXCHNG TRADED FD VI	76,141	$2M	0.7%	HOLD
29	GOOGALPHABET INC	7,422	$2M	0.7%	TRIM −2%
30	JMBSJANUS DETROIT STR TR	43,739	$2M	0.7%	HOLD
31	EMBISHARES TR	20,794	$2M	0.7%	HOLD
32	METAMETA PLATFORMS INC	3,295	$2M	0.6%	HOLD
33	JPMJPMORGAN CHASE & CO	6,287	$2M	0.6%	ADD 2%
34	BUFRFIRST TR EXCHNG TRADED FD VI	54,435	$2M	0.6%	HOLD
35	PMPHILIP MORRIS INTL INC	11,038	$2M	0.6%	ADD 17%
36	VZVERIZON COMMUNICATIONS INC	35,308	$2M	0.6%	HOLD
37	MCHIISHARES TR MSCI CHINA ETF	31,456	$2M	0.6%	HOLD
38	FETHFIDELITY ETHEREUM FD	83,976	$2M	0.6%	ADD 13%
39	ALGNALIGN TECHNOLOGY INC	10,211	$2M	0.6%	TRIM −6%
40	AMZNAMAZON COM INC	8,391	$2M	0.6%	HOLD
41	IGFISHARES TR	25,362	$2M	0.6%	NEW
42	COSTCOSTCO WHSL CORP NEW	1,638	$2M	0.5%	HOLD
43	ASMLASML HOLDING N V	1,218	$2M	0.5%	TRIM −8%
44	AVGOBROADCOM INC	5,105	$2M	0.5%	HOLD
45	MUMICRON TECHNOLOGY INC	4,622	$2M	0.5%	TRIM −13%
46	VRTVERTIV HOLDINGS CO	6,219	$2M	0.5%	TRIM −11%
47	ABBVABBVIE INC	7,029	$2M	0.5%	HOLD
48	UPSUNITED PARCEL SERVICE INC	15,473	$2M	0.5%	HOLD
49	NFLXNETFLIX INC	15,657	$2M	0.5%	ADD 4%
50	SPYMSPDR SERIES TRUST	19,668	$2M	0.5%	HOLD
51	PYPLPAYPAL HLDGS INC	32,495	$1M	0.5%	ADD 15%
52	COINCOINBASE GLOBAL INC	8,286	$1M	0.5%	ADD 10%
53	STXSEAGATE TECHNOLOGY HLDNGS PL	3,652	$1M	0.5%	TRIM −7%
54	ULTAULTA BEAUTY INC	2,709	$1M	0.5%	TRIM −4%
55	MRKMERCK & CO INC	11,769	$1M	0.5%	TRIM −3%
56	HYGISHARES TR	17,481	$1M	0.5%	TRIM −15%
57	CSCOCISCO SYS INC	17,756	$1M	0.5%	ADD 41%
58	DDOMINION ENERGY INC	21,498	$1M	0.4%	ADD 3%
59	AMDADVANCED MICRO DEVICES INC	6,414	$1M	0.4%	HOLD
60	JNJJOHNSON & JOHNSON	5,299	$1M	0.4%	TRIM −3%
61	UNHUNITEDHEALTH GROUP INC	4,776	$1M	0.4%	ADD 6%
62	TGTTARGET CORP	10,653	$1M	0.4%	TRIM −3%
63	TAT&T INC	44,130	$1M	0.4%	ADD 2%
64	BABAALIBABA GROUP HLDG LTD	10,123	$1M	0.4%	HOLD
65	PGPROCTER AND GAMBLE CO	8,765	$1M	0.4%	ADD 29%
66	GOOGLALPHABET INC	4,392	$1M	0.4%	HOLD
67	MOALTRIA GROUP INC	19,033	$1M	0.4%	HOLD
68	NEENEXTERA ENERGY INC	13,320	$1M	0.4%	ADD 2%
69	XLVSELECT SECTOR SPDR TR	8,243	$1M	0.4%	HOLD
70	NCLHNORWEGIAN CRUISE LINE HLDGS	64,387	$1M	0.4%	TRIM −3%
71	JAAAJANUS DETROIT STR TR	23,604	$1M	0.4%	ADD 11%
72	PFEPFIZER INC	42,149	$1M	0.4%	ADD 2%
73	LLYELI LILLY & CO	1,267	$1M	0.4%	HOLD
74	IWMISHARES TR	4,667	$1M	0.4%	HOLD
75	DHRDANAHER CORP DEL	5,958	$1M	0.4%	HOLD
76	ACNACCENTURE PLC IRELAND	5,697	$1M	0.4%	ADD 5%
77	LULULULULEMON ATHLETICA INC	7,273	$1M	0.4%	ADD 3%
78	WMTWALMART INC	8,814	$1M	0.4%	HOLD
79	FISVFISERV INC	19,606	$1M	0.4%	HOLD
80	BILSPDR SERIES TRUST	11,848	$1M	0.4%	ADD 2%
81	HDHOME DEPOT INC	3,193	$1M	0.4%	ADD 4%
82	CVSCVS HEALTH CORP	14,510	$1M	0.4%	ADD 4%
83	MAMASTERCARD INCORPORATED	2,079	$1M	0.3%	HOLD
84	QQEWFirst Trust NASDAQ-100 Equal Wtd ETF	8,169	$1M	0.3%	HOLD
85	ZTSZOETIS INC	8,606	$1M	0.3%	HOLD
86	FSLRFIRST SOLAR INC	4,814	$949,610	0.3%	ADD 3%
87	VEAVANGUARD TAX-MANAGED FDS	14,755	$945,529	0.3%	TRIM −6%
88	CIBRFIRST TR EXCHANGE-TRADED FD	14,529	$910,673	0.3%	ADD 3%
89	BMYBRISTOL-MYERS SQUIBB CO	14,875	$902,173	0.3%	HOLD
90	XLPSELECT SECTOR SPDR TR	10,968	$899,122	0.3%	TRIM −4%
91	APOAPOLLO GLOBAL MGMT INC	8,050	$896,937	0.3%	ADD 6%
92	QQQMINVESCO EXCH TRADED FD TR II	3,717	$883,262	0.3%	HOLD
93	QCOMQUALCOMM INC	6,509	$838,293	0.3%	ADD 9%
94	TXNTEXAS INSTRS INC	4,280	$830,918	0.3%	HOLD
95	KOCOCA COLA CO	10,834	$823,900	0.3%	ADD 2%
96	PEPPEPSICO INC	5,252	$815,590	0.3%	ADD 3%
97	VTVVANGUARD INDEX FDS	4,097	$803,822	0.3%	HOLD
98	SPGIS&P GLOBAL INC	1,875	$797,556	0.3%	HOLD
99	SPYSTATE STR SPDR S&P 500 ETF T	1,204	$783,009	0.3%	TRIM −18%
100	VUGVANGUARD INDEX FDS	1,771	$773,562	0.3%	HOLD
101	INTUINTUIT	1,789	$773,543	0.3%	ADD 7%
102	ISRGINTUITIVE SURGICAL INC	1,616	$744,960	0.3%	HOLD
103	XLKSELECT SECTOR SPDR TR	5,565	$739,647	0.2%	HOLD
104	SHWSHERWIN WILLIAMS CO	2,290	$733,911	0.2%	HOLD
105	JNKSPDR SER TR	7,577	$725,310	0.2%	TRIM −7%
106	VIGVANGUARD SPECIALIZED FUNDS	3,323	$714,720	0.2%	HOLD
107	PRUPRUDENTIAL FINL INC	7,046	$688,277	0.2%	ADD 3%
108	EMXCISHARES INC	8,571	$674,173	0.2%	TRIM −4%
109	BACBANK AMERICA CORP	13,765	$671,055	0.2%	ADD 4%
110	LMTLOCKHEED MARTIN CORP	1,092	$659,926	0.2%	TRIM −3%
111	PLDPROLOGIS INC.	4,643	$613,745	0.2%	HOLD
112	XLSRSSGA ACTIVE TR	10,453	$603,556	0.2%	ADD 4%
113	SPDWSPDR INDEX SHS FDS	12,861	$587,105	0.2%	TRIM −9%
114	ADIANALOG DEVICES INC	1,602	$509,798	0.2%	TRIM −9%
115	IBKRINTERACTIVE BROKERS GROUP IN	7,041	$472,238	0.2%	TRIM −3%
116	LHXL3HARRIS TECHNOLOGIES INC	1,361	$469,785	0.2%	TRIM −4%
117	SLBSCHLUMBERGER LTD	8,774	$450,875	0.2%	HOLD
118	MCKMCKESSON CORP	520	$450,304	0.2%	TRIM −3%
119	XLISELECT SECTOR SPDR TR	2,757	$445,820	0.2%	TRIM −3%
120	AXPAMERICAN EXPRESS CO	1,464	$442,755	0.1%	HOLD
121	BNYBANK NEW YORK MELLON CORP	3,696	$438,422	0.1%	TRIM −25%
122	TJXTJX COS INC NEW	2,745	$438,313	0.1%	TRIM −2%
123	WFCWELLS FARGO CO NEW	5,489	$436,952	0.1%	TRIM −2%
124	LRCXLAM RESEARCH CORP	2,045	$436,908	0.1%	TRIM −35%
125	FANGDIAMONDBACK ENERGY INC	2,208	$436,667	0.1%	HOLD
126	LINLINDE PLC	864	$428,438	0.1%	HOLD
127	PHPARKER-HANNIFIN CORP	471	$421,919	0.1%	TRIM −5%
128	AMTAMERICAN TOWER CORP	2,425	$418,479	0.1%	ADD 5%
129	DALDELTA AIR LINES INC	6,251	$415,569	0.1%	HOLD
130	XLYSELECT SECTOR SPDR TR	3,750	$408,656	0.1%	HOLD
131	SPEMSPDR INDEX SHS FDS	8,596	$403,238	0.1%	HOLD
132	ORCLORACLE CORP	2,567	$377,631	0.1%	ADD 6318%
133	VVISA INC	1,228	$371,021	0.1%	HOLD
134	PHMPULTE GROUP INC	3,143	$369,633	0.1%	TRIM −2%
135	QSRRESTAURANT BRANDS INTL INC	4,977	$367,810	0.1%	HOLD
136	IQVIQVIA HLDGS INC	2,133	$363,762	0.1%	HOLD
137	XLCSELECT SECTOR SPDR TR	3,190	$353,595	0.1%	HOLD
138	SPYVSPDR SERIES TRUST	6,228	$352,380	0.1%	HOLD
139	BSXBOSTON SCIENTIFIC CORP	5,364	$336,591	0.1%	ADD 24282%
140	SPSMSPDR SERIES TRUST	6,907	$333,746	0.1%	TRIM −12%
141	XLFSELECT SECTOR SPDR TR	6,547	$323,224	0.1%	HOLD
142	CCLCARNIVAL CORP	11,896	$307,878	0.1%	HOLD
143	TMUST-MOBILE US INC	1,423	$298,969	0.1%	HOLD
144	PPLPPL CORP	7,583	$289,659	0.1%	HOLD
145	VWOVANGUARD INTL EQUITY INDEX F	5,068	$273,933	0.1%	TRIM −5%
146	SYYSYSCO CORP	3,780	$269,627	0.1%	ADD 9%
147	CNPCENTERPOINT ENERGY INC	6,106	$263,538	0.1%	HOLD
148	ALLALLSTATE CORP	1,260	$261,286	0.1%	ADD 23%
149	UBERUBER TECHNOLOGIES INC	3,623	$260,602	0.1%	HOLD
150	SJMSMUCKER J M CO	2,595	$250,262	0.1%	NEW
151	NOWSERVICENOW INC	2,254	$235,656	0.1%	HOLD
152	VBVANGUARD INDEX FDS	880	$230,558	0.1%	ADD 3%
153	BNDXVANGUARD CHARLOTTE FDS	4,675	$224,634	0.1%	ADD 16%
154	DISDISNEY WALT CO	2,313	$222,938	0.1%	HOLD
155	ETHEGRAYSCALE ETHEREUM STAKING E	12,198	$208,220	0.1%	TRIM −2%
156	BSVVANGUARD BD INDEX FDS	2,599	$203,788	0.1%	ADD 16%
157	CERYSPDR SERIES TRUST	5,401	$190,331	0.1%	ADD 39%
158	BOXXEA SERIES TRUST	1,539	$178,970	0.1%	TRIM −21%
159	SPMDSPDR SERIES TRUST	2,438	$144,378	0.0%	TRIM −3%
160	FISRSSGA ACTIVE TR	5,427	$139,582	0.0%	ADD 123%
161	SJNKSPDR SERIES TRUST	5,486	$137,043	0.0%	TRIM −14%
162	VMBSVANGUARD SCOTTSDALE FDS	2,532	$118,877	0.0%	ADD 14%
163	SPLBSPDR SERIES TRUST	5,142	$114,255	0.0%	ADD 208%
164	GWXSPDR INDEX SHS FDS	2,694	$113,768	0.0%	TRIM −6%
165	BIVVANGUARD BD INDEX FDS	1,424	$109,904	0.0%	ADD 20%
166	GLDSPDR GOLD TR	252	$108,433	0.0%	TRIM −15%
167	BLVVANGUARD BD INDEX FDS	1,489	$102,413	0.0%	ADD 18%
168	FTCSFIRST TR EXCHANGE-TRADED FD	829	$76,898	0.0%	HOLD
169	EMHCSPDR SERIES TRUST	3,079	$76,359	0.0%	HOLD
170	SRLNSSGA ACTIVE ETF TR	1,894	$76,017	0.0%	HOLD
171	SPTLSPDR SERIES TRUST	2,889	$75,981	0.0%	TRIM −33%
172	XNTKSPDR SERIES TRUST	284	$72,500	0.0%	HOLD
173	FBTCFIDELITY WISE ORIGIN BITCOIN	1,199	$70,777	0.0%	ADD 125%
174	ETHUVOLATILITY SHS TR	3,091	$69,084	0.0%	HOLD
175	SPYGSPDR SERIES TRUST STATE STREET SPD	648	$63,446	0.0%	HOLD
176	NETCLOUDFLARE INC	266	$54,886	0.0%	TRIM −42%
177	ETHGRAYSCALE ETHEREUM STAKING	2,435	$48,359	0.0%	TRIM −5%
178	ETHAISHARES ETHEREUM TR	2,952	$46,730	0.0%	HOLD
179	BMNRBITMINE IMMERSION TECNOLOGIE	2,291	$45,316	0.0%	ADD 317%
180	FIXDFIRST TR EXCHNG TRADED FD VI	1,004	$43,764	0.0%	HOLD
181	TTETotalEnergies SE	469	$42,670	0.0%	HOLD
182	EBNDSPDR SERIES TRUST	1,847	$38,122	0.0%	HOLD
183	CVXCHEVRON CORP NEW	177	$36,621	0.0%	ADD 14%
184	TDIVFIRST TR EXCHANGE TRADED FD	370	$34,654	0.0%	TRIM −50%
185	VNQVANGUARD INDEX FDS	382	$33,883	0.0%	HOLD
186	ENBENBRIDGE INC	599	$32,430	0.0%	HOLD
187	MINTPIMCO ETF TR	309	$31,076	0.0%	ADD 54%
188	SNYSANOFI SA	636	$30,642	0.0%	ADD 31%
189	BTIBRITISH AMERN TOB PLC	505	$29,527	0.0%	ADD 8%
190	FEFIRSTENERGY CORP	572	$28,978	0.0%	ADD 31%
191	USBUS BANCORP	546	$28,397	0.0%	HOLD
192	PNCPNC FINL SVCS GROUP INC	134	$27,884	0.0%	HOLD
193	PAYXPAYCHEX INC	290	$26,715	0.0%	ADD 125%
194	IWPISHARES TR	208	$26,649	0.0%	HOLD
195	CMECME GROUP INC	89	$26,286	0.0%	ADD 53%
196	XLRESELECT SECTOR SPDR TR	553	$22,579	0.0%	TRIM −99%
197	AMCRAMCOR PLC ORD	561	$22,300	0.0%	NEW
198	NGGNATIONAL GRID PLC	263	$22,250	0.0%	TRIM −32%
199	TFCTRUIST FINL CORP	484	$22,249	0.0%	HOLD
200	AMATAPPLIED MATLS INC	65	$22,216	0.0%	HOLD

showing the top 200 by weight

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

IUSVISHARES TR

161K

162K

165K

175K

182K

$19M

IUSGISHARES TR

104K

100K

99K

100K

103K

101K

$16M

TLTISHARES TR

113K

115K

122K

124K

130K

136K

$12M

JPIEJ P MORGAN EXCHANGE TRADED F

195K

196K

199K

208K

225K

235K

$11M

IEFAISHARES TR

111K

113K

112K

113K

119K

116K

$10M

IJRISHARES TR

115K

116K

107K

109K

112K

69K

$9M

PYLDPIMCO MULTISECTOR BOND ACTIVE EXCHANGE-TRADED FUND

—

209K

214K

218K

278K

289K

$8M

RSPINVESCO EXCHANGE TRADED FD T

44K

45K

46K

38K

$7M

AGGISHARES TR

114K

120K

123K

127K

153K

69K

$7M

QQQINVESCO QQQ TR

17K

16K

13K

11K

$7M

BONDPIMCO ETF TR

—

13K

14K

16K

20K

71K

$7M

EFAISHARES TR

63K

65K

61K

63K

62K

$6M

IEMGISHARES INC

85K

86K

85K

86K

90K

84K

$6M

FESMFIDELITY COVINGTON TRUST

—

142K

$5M

AAPLAPPLE INC

23K

18K

19K

18K

$5M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆Richard W. Paul & Associates, LLC

Implied return what this book implies · modeled, not advice methodology →

Exposures · what this manager owns, by sector & size (2026-Q1)

By sector

By market cap

By region

By industry group GICS — finer than sector

Top holdings

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Contribution holdings-based, any period

Holdings· 300 positions (2026-Q1) · largest first · Δ vs 2025-Q4

Position trends· top 15 holdings · shares held over 6 quarters

Related· where to look next

Richard W. Paul & Associates, LLC