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L. Roy Papp & Associates, LLP
L. Roy Papp & Associates, LLP is a Phoenix, Arizona-based SEC-registered investment adviser, founded in 1978. The firm specializes in providing comprehensive, customized wealth management services to high net worth individuals, pension and profit sharing plans, charities, corporations, endowments, and other not-for-profits. With a focus on stable, conservative investment management, the firm employs a team including 11 partners, 8 CFA charterholders, and 1 CPA, with approximately 10-11 employees in total. L. Roy Papp & Associates is known for a fee-based advisory approach and a high level of professional expertise.
Investment Strategy
L. Roy Papp & Associates, LLP focuses on conservative, stable investment management structured around each client’s distinct financial needs and long-term goals. The firm emphasizes comprehensive wealth management, with a particular specialization in small and mid-cap growth companies, as reflected in their advisory to mutual funds such as the Papp Small & Mid-Cap Growth Fund. Their philosophy includes individualized portfolio construction, risk management, and a collaborative research-driven investment process, led predominantly by professionals holding CFA charters. They manage portfolios for high net worth individuals, institutions, and nonprofit entities utilizing a disciplined, long-term investment approach.
Latest 13F Filing Activity
L. Roy Papp & Associates, LLP filed their most recent 13F report on Sep 30, 2025 disclosing 182 equity positions with a total 13F market value of $890M. The fund increased holdings in Alphabet Inc., Apple Inc., Alphabet Inc. among other positions. L. Roy Papp & Associates, LLP reduced exposure to Accenture PLC Ireland, Factset Resh SYS Inc., Ansys Inc. among others.
Top Holdings
Equity Positions (182)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
M MSFT | MICROSOFT CORP | 6.93% | $61.7M | 119,084 | $64.72 | $517.95 | +$1.9M |
A AAPL | APPLE INC | 6.82% | $60.6M | 238,148 | $31.89 | $254.63 | +$11.2M |
B BLK | BLACKROCK INC | 4.83% | $42.9M | 36,829 | $1025.18 | $1165.87 | +$3.7M |
G GOOG | ALPHABET INC | 4.76% | $42.3M | 173,835 | $59.93 | $243.55 | +$11.3M |
O ORLY | OREILLY AUTOMOTIVE INC | 4.24% | $37.7M | 349,792 | $92.88 | $107.81 | +$5.4M |
Industry Allocation
Investment Team (5)
| Name | Role | Location | |
|---|---|---|---|
B Brian Riordan | Partner - Senior Research Analyst | Phoenix, AZ , United States | |
 | Partner and Senior Portfolio Manager | Phoenix, AZ , United States | |
 | Partner - Sr. Research Analyst | Phoenix, AZ , United States | |
 | Managing Partner | Phoenix, AZ , United States | |
A Alex Arnon | Portfolio Manager | Phoenix, AZ , United States |
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