Report for the Calendar Year or Quarter Ended: 12/31/98
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one): [ ] is a restatement [ ] adds new
holdings entries
Insitutional Investment Manager Filing this Report:
Name: L. Roy Papp & Associates
Address: 6225 North 24th Street, Suite 150, Phoenix, AZ 85016
13F File Number: 28-1889
The institutional investment manager filing this report and the person
by whom it is signed hereby reprsent that the person signing the report
is authorized to submit it, that all information contained herein is true,
correct and complete, and that it is understood that all required items,
statements, schedules, lists, and tables, are considered integral parts
of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: L. Roy Papp
Title: Managing Partner
Phone: 602.956.0980
Signature, Place, and Date of Signing:
L. Roy Papp
Phoenix, Arizona
1/15/99
Report Type (check only one):
[xx] 13F HOLDINGS REPORT. (check here if all holdings of this
reporting manager are reported in this report.)
[ ] 13F NOTICE. (check here if no holdings reported are in this report,
and all holdings are reported by other reporting managers.)
[ ] 13F COMBINATION REPORT. (check here if a portion of the holdings
for this reporting manager are reported in this report and a portion
are reported by other reporting managers.)
Report Summary:
Number of Other Included Managers: None
Form 13F Information Table Entry Total: 126
Form 13F Information Table Value Total: $1,201,820 (thousands)
Provide a numbered list of the names and 13F file numbers of all
institutional investment managers with respect to which this report
is filed, other than the manager filing this report. None.
<TABLE>
<C> <C>
L. ROY PAPP & ASSOCIATES
Form 13F
December 31, 1998
Fair
Market Investment Discretion Voting Authority
Value
Issuer Class CUSIP (000'S Shares Sole Share Sole Share None
ABBOTT LABS COM 002824-10-0 4,880 104,249 0 104,249 0 0 104,249
AIR EXPRESS INT'L COM 009104-10-0 9,658 638,524 463,500 175,024 459,000 4,500 175,024
AIRTOUCH COMMUNICATIONS COM 00949T-10-0 304 3,150 0 3,150 0 0 3,150
ALBERTSON'S COM 013104-10-4 13,862 254,648 27,500 227,148 11,000 16,500 227,148
ALLTEL CORP COM 020039-10-3 262 4,195 0 4,195 0 0 4,195
AMERICAN HOME PRODUCTS COM 026609-10-7 24,472 375,052 76,600 298,452 52,600 24,000 298,452
AMERCIAN INTL GROUP COM 026874-10-7 11,870 98,405 85,750 12,655 85,750 0 12,655
AMERICAN POWER CONVERSION COM 029066-10-7 35,483 1,314,190 820,400 493,790 813,400 7000 493,790
AMGEN COM 031162-10-0 419 5,600 0 5,600 0 0 5,600
ANHEUSER-BUSCH COM 035229-10-3 4,724 62,050 0 62,050 0 0 62,050
ASTRA COM 046298-10-5 8,079 352,213 271,700 80,513 271,700 0 80,513
AUTO DATA PROCESSING COM 053015-10-3 5,728 138,442 35,000 103,442 35,000 0 103,442
BMC SOFTWARE COM 055921-10-0 5,591 150,854 123,100 27,754 123,100 0 27,754
BOK FINANCIAL COM 05561Q-20-1 535 20,759 0 20,759 0 0 20,759
BP AMOCO PLC. COM 055622-10-4 1,163 11,510 0 11,510 0 0 11,510
BELL SOUTH COM 079860-10-2 298 7,438 0 7,438 0 0 7,438
BERKSHIRE HATHWAY COM 084670-10-8 714 10 0 10 0 0 10
BIOMET COM 090613-10-0 2,860 68,200 43,600 24,600 43,600 0 24,600
BRISTOL MYERS SQUIBB COM 110122-10-8 3,382 52,740 0 52,740 0 0 52,740
BURLINGTON COM 122014-10-3 203 5,093 0 5,093 0 0 5,093
CENTURY TELEPHONE COM 156686-10-7 710 10,100 10,000 100 10,000 0 100
CVS CORPORATION COM 126650-10-0 589 12,400 0 12,400 0 0 12,400
CISCO SYSTEMS COM 17275R-10-2 2,679 24,450 20,000 4,450 20,000 0 4,450
CLOROX COM 189054-10-9 41,106 350,774 50,200 300,574 42,200 8,000 300,574
COCA COLA COM 191216-10-0 2,479 40,393 0 40,393 0 0 40,393
COLGATE PALMOLIVE COM 194162-10-3 336 3,652 0 3,652 0 0 3,652
COMPAQ COMPUTER COM 204493-10-0 1,415 44,668 0 44,668 0 0 44,668
COVANCE COM 222816-10-0 1,237 49,350 20,000 29,350 20,000 0 29,350
DAIMLER CHRYSLER AG F COM D1668R-12-3 207 2,415 0 2,415 0 0 2,415
DAYTON HUDSON COM 239753-10-6 3,662 54,960 0 54,960 0 0 54,960
DEL GLOBAL TECH COM 245073-10-1 121 14,000 14,000 0 14,000 0 0
DISNEY, WALT COM 254687-10-6 650 20,874 0 20,874 0 0 20,874
DONNELLEY R. R. COM 257867-10-1 509 15,800 0 15,800 0 0 15,800
EMC CORP MASS COM 268648-10-2 6,317 49,450 43,000 6,450 43,000 0 6,450
EMERSON ELEC COM 291011-10-4 13,703 258,845 40,000 218,845 40,000 0 218,845
ERICSSON ADR COM 294821-40-0 6,576 276,150 142,400 133,750 142,400 0 133,750
EXPEDITORS INT'L COM 302130-10-9 683 12,650 11,700 950 11,700 0 950
EXXON COM 302290-10-1 5,717 81,019 0 81,019 0 0 81,019
FANNIE MAE COM 313586-10-9 229 3,300 0 3,300 0 0 3,300
FIRST UNION CORP COM 337358-10-5 2,023 37,864 0 37,864 0 0 37,864
G & K SERVICES COM 361268-10-5 19,496 422,102 127,100 295,002 127,100 0 295,002
GTE COM 362,320,103 387 6,400 0 6,400 0 0 6,400
GENERAL ELECTRIC COM 369604-10-3 39,145 353,849 201,100 152,749 201,100 0 152,749
GENERAL INSTRUMENT COM 370120-10-7 221 7,300 0 7,300 0 0 7,300
GENERAL MILLS COM 370334-10-4 336 4,450 0 4,450 0 0 4,450
GILETTE COMPANY COM 375766-10-2 2,389 40,200 34,000 6,200 34,000 0 6,200
GLATFELTER, PH COM 377316-10-4 180 16,116 0 16,116 0 0 16,116
GLAXO WELLCOME ADR COM 37733W-10-5 248 3,700 0 3,700 0 0 3,700
GRAINGER, W W COM 384802-10-4 6,707 155,756 0 155,756 0 0 155,756
GUIDANT CORP COM 401698-10-5 876 14,484 0 14,484 0 0 14,484
H B FULLER COM 359694-10-6 477 8,100 4,500 3,600 0 4,500 3,600
HCC INSURANCE HOLDING COM 404132-10-2 217 11,250 0 11,250 0 0 11,250
HEINZ COM 423074-10-3 2,162 45,634 0 45,634 0 0 45,634
HEWLETT PACKARD COM 428236-10-3 45,941 677,478 224,600 452,878 224,600 0 452,878
HILLENBRAND COM 431573-10-4 406 8,800 4,000 4,800 0 4,000 4,800
HOME DEPOT INC COM 437076-10-2 1,161 18,646 0 18,646 0 0 18,646
HONG KONG TELECOM COM 438579-20-3 2,303 117,726 108,000 9,726 108,000 0 9,726
HOUGHTON MIFF COM 441560-10-9 422 9,000 0 9,000 0 0 9,000
IBM CORP COM 459200-10-1 10,166 57,353 44,000 13,353 44,000 0 13,353
INTEL CORPORATION COM 458140-10-0 79,167 665,971 350,500 315,471 342,500 8,000 315,471
INTERPUBLIC GROUP CO. COM 460690-10-0 77,376 993,597 521,400 472,197 515,400 6,000 472,197
JOHNSON & JOHNSON COM 478160-10-4 29,351 313,916 197,300 116,616 197,300 0 116,616
LILLY, ELI COM 532457-10-8 18,348 216,181 30,200 185,981 26,200 4,000 185,981
LUCENT TECH COM 549463-10-7 669 6,194 0 6,194 0 0 6,194
MCI WORLD COM COM 98155K-10-2 218 2,463 0 2,463 0 0 2,463
MANPOWER INC. COM 56418H-10-0 7,754 331,720 215,000 116,720 215,000 0 116,720
MARSH & McLENNAN COM 571748-10-2 1,366 18,394 0 18,394 0 0 18,394
MARSHALL INDUSTRIES COM 572393-10-6 394 29,200 12,000 17,200 0 12,000 17,200
MATTEL, INC. COM 577081-10-2 18,613 746,403 450,300 296,103 450,300 0 296,103
MAY DEPT STORES COM 577778-10-3 1,651 42,195 0 42,195 0 0 42,195
McCORMICK & CO COM 579780-20-6 203 7,015 0 7,015 0 0 7,015
McDONALDS COM 580135-10-1 53,306 1,176,407 610,400 566,007 601,800 8,600 566,007
MC KESSON COM 581557-10-5 209 3,172 0 3,172 0 0 3,172
MEDTRONICS COM 585055-10-6 8,065 112,210 98,400 13,810 98,400 0 13,810
MELLON BANK COM 585509-10-2 4,513 64,139 0 64,139 0 0 64,139
MERCK COM 589331-10-7 59,509 742,699 393,500 349,199 393,500 0 349,199
MICROSOFT CORP. COM 594918-10-4 74,399 830,114 388,400 441,714 368,400 20,000 441,714
MMM COM 604059-10-5 561 7,930 800 7,130 0 800 7,130
MOBIL COM 607056-10-2 200 2,276 0 2,276 0 0 2,276
MOLEX CLASS A 608554-20-0 17,741 685,655 502,400 183,255 502,400 0 183,255
MONSANTO COM 611662-10-7 331 7,200 0 7,200 0 0 7,200
MOTOROLA COM 620076-10-9 17,324 236,510 28,500 208,010 25,500 3,000 208,010
NATIONAL INSTRUMENTS COM 636518-10-2 214 7,500 7,500 0 7,500 0 0
NOBLE AFFILIATES COM 654894-10-4 290 10,000 0 10,000 0 0 10,000
NORTHERN TRUST COM 665859-10-4 14,472 162,950 34,000 128,950 34,000 0 128,950
OKLAHOMA G & E COM 670837-10-1 226 10,000 0 10,000 0 0 10,000
OFFICE DEPOT COM 676220-10-6 60,180 1,607,480 940,100 667,380 931,100 9,000 667,380
OMNICOM GROUP COM 681919-10-6 10,448 130,704 107,000 23,704 107,000 0 23,704
ORACLE SYSTEMS COM 68389X-10-5 334 12,675 0 12,675 0 0 12,675
PACIFIC CENTURY COM 694058-10-8 265 12,700 0 12,700 0 0 12,700
PEPSICO INC. COM 713448-10-8 280 7,150 0 7,150 0 0 7,150
PFIZER COM 717081-10-3 6,446 46,460 9,000 37,460 9,000 0 37,460
PHILIP MORRIS COM 718154-10-7 232 6,600 0 6,600 0 0 6,600
PITNEY BOWES COM 724479-10-0 10,756 168,720 0 168,720 0 0 168,720
PIONEER HI-BRED COM 723686-10-1 237 6,300 0 6,300 0 0 6,300
PROCTER & GAMBLE COM 742718-10-9 9,018 92,084 3,000 89,084 0 3,000 89,084
REGENERON PHARMACEUTICALS COM 75886F-10-7 131 19,800 0 19,800 0 0 19,800
RPM COM 749685-10-3 222 13,898 0 13,898 0 0 13,898
ROYAL DUTCH COM 780257-80-4 727 13,980 0 13,980 0 0 13,980
SBC COMMUNICATIONS COM 78387G-10-3 1,381 29,272 0 29,272 0 0 29,272
SAFESKIN CORP COM 786454-10-8 2,232 300,050 0 300,050 0 0 300,050
SARA LEE COM 803111-10-3 4,649 187,826 2,000 185,826 0 2,000 185,826
SCHERING PLOUGH COM 806605-10-1 691 12,500 0 12,500 0 0 12,500
SCHLUMBERGER LTD COM 806857-10-8 359 5,960 0 5,960 0 0 5,960
SCHWAB, CHARLES COM 808513-10-5 2,228 23,175 0 23,175 0 0 23,175
SERVICE CORP COM 817565-10-4 19,625 1,377,195 534,000 843,195 522,000 12,000 843,195
SIGMA-ALDRICH COM 826552-10-1 4,581 156,615 2,000 154,615 0 2,000 154,615
SPRINT CORP COM 852061-10-0 2,591 26,400 0 26,400 0 0 26,400
SPRINT PCS COM 69325R-10-3 585 13,199 0 13,199 0 0 13,199
STAPLES COM 855030-10-2 399 12,150 0 12,150 0 0 12,150
STATE STREET CORP. COM 857477-10-3 114,736 1,394,969 512,200 882,769 487,200 25,000 882,769
STEINER LEISURE LTD COM P8744Y-10-2 13,738 446,775 395,800 50,975 395,800 0 50,975
STRYKER CORP. COM 863667-10-1 1,513 30,000 28,500 1,500 28,500 0 1,500
SYSCO CORP. COM 871829-10-7 7,755 294,739 0 294,739 0 0 294,739
T. ROWE PRICE COM 741477-10-3 15,349 446,525 188,000 258,525 188,000 0 258,525
TECHNE COM 878377-10-0 419 14,500 14,500 0 14,500 0 0
TORCHMARK CORP COM 891027-10-4 351 11,104 0 11,104 0 0 11,104
US TRUST CORP COM 91288L-10-5 438 5,900 5,900 0 1,400 4,500 0
UNILEVER N.V. COM 904784-50-1 331 4,980 0 4,980 0 0 4,980
UNION PACIFIC COM 907818-10-8 267 5,000 0 5,000 0 0 5,000
WALGREEN COM 931422-10-9 16,226 574,380 108,000 466,380 108,000 0 466,380
WAL-MART COM 931142-10-3 210 2,275 0 2,275 0 0 2,275
WARNER LAMBERT COM 934488-10-7 651 9,825 6,000 3,825 6,000 0 3,825
Total 1,155,726 21,964,656
</TABLE>
