Heat the butter in a large Dutch oven over medium heat.
Add the onions and garlic and sauté until the onions are translucent and the garlic is fragrant.
Add the tomato paste, paprika, basil, salt, oregano and pepper to the onions and sauté for 5 additional minutes.
Deglaze the pan with ½ cup of the chicken stock and using a rubber spatula, scrape up and mix in any bits that are stuck to the bottom.
Add the fire roasted tomatoes, roasted red peppers, and the remaining chicken stock.
Bring to a boil over high heat, and then reduce to low and let simmer for 30 minutes. (The longer you let it simmer, the more the flavors will come together.)
Remove the pot from the heat.
Using an immersion blender, blend the soup until it is smooth and no chunks remain.
Add the cream to the soup and stir to combine.
Add the freshly shredded cheese, and stir for 1-2 minutes, until fully melted.
Taste the soup and season with salt and freshly cracked black pepper, to taste.