PAPP L ROY & ASSOCIATES

RIA/Wealth

PAPP L ROY & ASSOCIATES is a RIA/Wealth based in Phoenix, AZ led by Jeffrey Nels Edwards, reporting $1.5B in AUM as of Q3 2025 with MSFT as the largest holding (7% allocation).

Managing PartnerJeffrey Nels Edwards

Portfolio Value: $889.6M
Positions: 182
Top Holding: MSFT at 6.93%
Last Reported: Q3 2025

Address2201 E. Camelback Road, Suite 227b, Phoenix, AZ, 85016, United States

Top Holdings

Largest long holdings in PAPP L ROY & ASSOCIATES's portfolio (43.3% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Microsoft MSFT	Software - Infrastructure Technology	$61.7M	6.93%	-$611.2K Sold	0.00% 119.1K shares	≤ Q2 2013 Held for 12y 5m+
2 Apple AAPL	Consumer Electronics Technology	$60.6M	6.82%	-$694.9K Sold	0.00% 238.1K shares	≤ Q2 2013 Held for 12y 5m+
3 Blackrock BLK	Asset Management Financial Services	$42.9M	4.83%	-$641.2K Sold	0.02% 36.8K shares	≤ Q2 2013 Held for 12y 5m+
4 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$42.3M	4.76%	-$248.7K Sold	0.00% 173.8K shares	Q2 2014 Held for 11y 5m
5 O'Reilly Automotive ORLY	Specialty Retail Consumer Cyclical	$37.7M	4.24%	-$904.4K Sold	0.04% 349.8K shares	≤ Q2 2013 Held for 12y 5m+
6 Visa V	Financial - Credit Services Financial Services	$35.0M	3.93%	+$283.0K Bought	0.01% 102.5K shares	≤ Q2 2013 Held for 12y 5m+
7 Accenture ACN	Information Technology Services Technology	$27.9M	3.14%	+$582.5K Bought	0.02% 113.1K shares	≤ Q2 2013 Held for 12y 5m+
8 Alphabet Inc. GOOGL	Internet Content & Information Communication Services	$26.9M	3.03%	-$189.4K Sold	0.00% 110.8K shares	≤ Q2 2013 Held for 12y 5m+
9 Thermo Fisher Scientific TMO	Medical - Diagnostics & Research Healthcare	$25.0M	2.81%	+$689.2K Bought	0.01% 51.6K shares	Q1 2015 Held for 10y 8m
10 Home Depot HD	Home Improvement Consumer Cyclical	$24.7M	2.78%	+$293.0K Bought	0.01% 61.0K shares	≤ Q2 2013 Held for 12y 5m+

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in PAPP L ROY & ASSOCIATES's latest filing

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Market Value

$889.6M

Prior: $841.8M

Q/Q Change

+5.67%

+$47.7M

Net Flows % of MV

-0.52%

Turnover Ratio

1.82%

New Purchases

4 stocks

$2.1M

Added To

55 stocks

+$11.5M

Sold Out Of

4 stocks

$3.9M

Reduced Holdings

67 stocks

-$14.3M

Increased Positions

Position	Shares Δ	Change
1 Synopsys SNPS	New	0 → 2.9K +$1.4M
2 Northrop Grumman NOC	New	0 → 432.0 +$262.9K
3 Bank of New York Mellon BK	New	0 → 2.0K +$217.9K
4 SPDR S&P Aerospace & Defense ETF XAR	New	0 → 923.0 +$216.9K
5 Dynatrace DT	+85.44%	12.5K → 23.2K +$518.9K

Decreased Positions

Position	Shares Δ	Change
1 Ansys ANSS	Sold	8.9K → 0 −$3.1M
2 iShares Core Dividend Growth DGRO	Sold	6.2K → 0 −$398.5K
3 Air Products and Chemicals APD	Sold	739.0 → 0 −$208.4K
4 Advanced Micro Devices AMD	Sold	1.4K → 0 −$202.8K
5 Becton, Dickinson and Company BDX	-59.04%	11.9K → 4.9K −$1.3M