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Institutional Investment Manager
L. Roy Papp & Associates, LLP
L. Roy Papp & Associates, LLP (CIK: 0000809339) incorporated in Arizona, located at 2201 E. Camelback Road, Phoenix, AZ. Institutional holdings reported to the SEC.

Institutional Holdings (2014Q2)
Portfolio Summary: 138 holdings with a total value of $444,378,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 NIKE INC 29,033 2,252,000 0.51%
52 COLGATE PALMOLIVE CO 31,629 2,156,000 0.49%
53 MCCORMICK & CO INC 25,858 1,851,000 0.42%
54 VANGUARD INDEX FDS 18,644 1,844,000 0.41%
55 IDEX CORP 22,728 1,835,000 0.41%
56 Walgreens 24,535 1,819,000 0.41%
57 COACH INC 52,630 1,799,000 0.40%
58 FMC TECHNOLOGIES INC 27,952 1,707,000 0.38%
59 SELECT SECTOR SPDR TR 16,925 1,694,000 0.38%
60 AIRGAS INC 15,200 1,655,000 0.37%
61 GENERAL MLS INC 30,730 1,615,000 0.36%
62 UMB FINL CORP 23,945 1,518,000 0.34%
63 SYSCO CORP 40,133 1,503,000 0.34%
64 ADOBE INC 19,450 1,407,000 0.32%
65 E M C CORP MASS COM 53,195 1,401,000 0.32%
66 Linear Technology Corp 29,016 1,366,000 0.31%
67 CATAMARAN CORP COM 30,592 1,351,000 0.30%
68 STERICYCLE INC 11,133 1,318,000 0.30%
69 GRAINGER W W INC 5,160 1,312,000 0.30%
70 CISCO SYS INC 52,648 1,308,000 0.29%
71 ORACLE CORP 31,639 1,282,000 0.29%
72 SPDR S&P 500 Fund 6,513 1,275,000 0.29%
73 VALMONT INDS INC 8,378 1,273,000 0.29%
74 Micros Systems 18,568 1,261,000 0.28%
75 COSTCO WHSL CORP NEW 10,670 1,229,000 0.28%
76 IHS INC A 8,976 1,218,000 0.27%
77 SIGMA ALDRICH 11,475 1,164,000 0.26%
78 MCDONALDS CORP 11,427 1,151,000 0.26%
79 AMERICAN EXPRESS CO 11,763 1,116,000 0.25%
80 SELECT SECTOR SPDR TRUST THE T 28,450 1,091,000 0.25%
81 SHERWIN WILLIAMS CO 5,250 1,086,000 0.24%
82 VANGUARD INDEX FDS 10,142 977,000 0.22%
83 PETSMART 16,260 972,000 0.22%
84 NORTHERN TRUST 14,873 955,000 0.21%
85 AMGEN INC 8,060 954,000 0.21%
86 HOME DEPOT INC 10,826 876,000 0.20%
87 AUTOMATIC DATA PROCESSING IN 10,800 856,000 0.19%
88 SCHWAB U.S. LARGE-CAP GROWTH ETF 15,663 760,000 0.17%
89 COSTAR GROUP 4,799 759,000 0.17%
90 CHURCH & DWIGHT 10,803 756,000 0.17%
91 WHOLE FOODS MKT INC 19,276 745,000 0.17%
92 VANGUARD INDEX FDS 7,257 739,000 0.17%
93 COCA COLA CO 16,962 718,000 0.16%
94 DISNEY WALT CO 8,359 717,000 0.16%
95 Techne Corp Common 7,100 657,000 0.15%
96 MERCK & CO INC 11,138 644,000 0.14%
97 CONTINENTAL RESOURE 4,025 636,000 0.14%
98 ISHARES TR 10,000 627,000 0.14%
99 VANGUARD SPECIALIZED FUNDS 8,001 624,000 0.14%
100 SPDR INDEX SHS FDS 7,270 601,000 0.14%
Page 2 of 3

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001172661-14-001290, filed 2014.08.01).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.