Lederer & Associates Investment Counsel
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 2, 2025), Lederer & Associates Investment Counsel reported 81 stock positions worth $136.6 million. Its top holding was Apple (AAPL) at 9.1% of the portfolio, followed by Microsoft (MSFT, 7.1%) and Nvidia (NVDA, 4.3%). Compared with Q4 2024, it opened 4 new positions, sold out of 8, added to 37 and reduced 25. The biggest buy was a new position in Blackstone (BX) and the biggest sale an exit from Hershey (HSY).
- Most Recent 13F
- Q2 2026
- Location
- LONG BEACH, CA
- CIK
- 0001089707
- Portfolio Value
- $136.6M (Q1 2025)
- SEC Filing
- 0001089707-25-000002 ↗ filed Apr 2, 2025
Holdings Value
Holdings 81 stocks · $136.6M
| AAPL Apple Inc. | 9.10% | 55,967 | $12.4M | Add +2.5% |
| MSFT Microsoft Corp. | 7.12% | 25,901 | $9.7M | Add +1.4% |
| NVDA Nvidia Corp. | 4.35% | 54,791 | $5.9M | Add +1.8% |
| AMZN Amazon.com Inc. | 3.22% | 23,138 | $4.4M | Add +3.9% |
| GOOGL Alphabet Inc. Class A | 3.22% | 28,424 | $4.4M | Add +0.6% |
| V Visa Inc. Class A | 2.92% | 11,368 | $4.0M | Add +0.7% |
| META Meta Platforms Inc. Class A | 2.92% | 6,910 | $4.0M | Add +3.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.72% | 6,988 | $3.7M | Reduce -0.2% |
| ADP Automatic Data Processing | 2.59% | 11,580 | $3.5M | Add +0.4% |
| BLK BlackRock Inc. | 1.92% | 2,775 | $2.6M | Reduce -1.8% |
| SYK Stryker Corp. | 1.76% | 6,443 | $2.4M | Add +0.2% |
| JNJ Johnson & Johnson | 1.73% | 14,270 | $2.4M | Add +0.7% |
| JPM JPMorgan Chase & Co. | 1.69% | 9,418 | $2.3M | Reduce -2.1% |
| AVGO Broadcom Inc. | 1.69% | 13,757 | $2.3M | Add +4.9% |
| CB Chubb Ltd. | 1.67% | 7,570 | $2.3M | Add +1.7% |
| ABBV Abbvie Inc. | 1.67% | 10,870 | $2.3M | Add +5.3% |
| SPGI S&P Global Inc. | 1.61% | 4,321 | $2.2M | Add +3.6% |
| AMGN Amgen Inc. | 1.57% | 6,894 | $2.1M | Reduce -0.7% |
| LLY Eli Lilly & Co. | 1.53% | 2,538 | $2.1M | Add +3.6% |
| GLD SPDR Gold Shares | 1.44% | 6,815 | $2.0M | No change |
| COST Costco Wholesale Corp. | 1.43% | 2,065 | $2.0M | Add +1.6% |
| WM Waste Management Inc. | 1.38% | 8,148 | $1.9M | Add +4.4% |
| NEE Nextera Energy Inc. | 1.37% | 26,313 | $1.9M | Add +1.9% |
| UNP Union Pacific Corp. | 1.36% | 7,864 | $1.9M | Add +5.2% |
| NFLX Netflix Inc. | 1.33% | 1,944 | $1.8M | Reduce -6.9% |
| FISV Fiserv Inc. | 1.26% | 7,769 | $1.7M | Add +10.5% |
| AWK American Water Works Co. Inc. | 1.25% | 11,617 | $1.7M | Reduce -8.2% |
| MLM Martin Marietta Materials | 1.25% | 3,563 | $1.7M | Add +11.9% |
| SCHV Schwab US Large-Cap Value | 1.22% | 62,460 | $1.7M | Add +0.1% |
| SCHP Schwab U.S. Tips ETF | 1.17% | 59,570 | $1.6M | Reduce -0.5% |
| KO The Coca-Cola Co. | 1.08% | 20,635 | $1.5M | No change |
| CSCO Cisco Systems Inc. | 1.07% | 23,683 | $1.5M | Reduce -9.1% |
| UBER Uber Technologies Inc. | 1.02% | 19,033 | $1.4M | Add +10.7% |
| CVX Chevron Corp. | 1.01% | 8,238 | $1.4M | Add +2.1% |
| MDT Medtronic PLC | 0.97% | 14,779 | $1.3M | Reduce -3.3% |
| FLUT Flutter Entertainment PLC-Di | 0.94% | 5,823 | $1.3M | Reduce -0.3% |
| BMY Bristol-Myers Squibb Co. | 0.94% | 21,122 | $1.3M | No change |
| GOOG Alphabet Inc. Class C | 0.93% | 8,095 | $1.3M | Reduce -1.1% |
| PEP Pepsico Inc. | 0.90% | 8,244 | $1.2M | Reduce -0.2% |
| XOM Exxon Mobil Corp. | 0.89% | 10,241 | $1.2M | Add +13.2% |
| WAT Waters Corp. | 0.85% | 3,155 | $1.2M | Add +1.0% |
| BX Blackstone Inc. | 0.84% | 8,216 | $1.1M | New |
| SCHH Schwab US REIT ETF | 0.82% | 52,118 | $1.1M | Add +0.0% |
| CME Cme Group Inc. | 0.80% | 4,129 | $1.1M | No change |
| HD Home Depot Inc. | 0.79% | 2,929 | $1.1M | Add +10.7% |
| SYY Sysco Corp. | 0.77% | 14,074 | $1.1M | No change |
| CRWD CrowdStrike Holdings Inc. Class A | 0.77% | 2,970 | $1.0M | Reduce -0.1% |
| PYPL PayPal Holdings Inc. | 0.71% | 14,938 | $975K | Add +2.1% |
| UNH Unitedhealth Group Inc. | 0.71% | 1,857 | $973K | Add +0.4% |
| CPAY Corpay Inc. | 0.69% | 2,713 | $946K | Add +0.4% |
| CTSH Cognizant Tech Solutions-A | 0.67% | 11,910 | $911K | No change |
| KMB Kimberly-Clark Corp. | 0.67% | 6,395 | $909K | No change |
| TRV The Travelers Cos Inc. | 0.65% | 3,358 | $888K | Reduce -0.5% |
| AMT American Tower Corp. | 0.64% | 3,988 | $868K | Reduce -1.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.61% | 20,000 | $835K | No change |
| HON Honeywell International Inc. | 0.61% | 3,926 | $831K | Reduce -0.2% |
| GS Goldman Sachs Group Inc. | 0.59% | 1,485 | $811K | Reduce -0.3% |
| MRK Merck & Co. Inc. | 0.59% | 8,943 | $803K | Reduce -0.3% |
| DAL Delta Air Lines Inc. | 0.56% | 17,571 | $766K | New |
| PLD Prologis Inc. | 0.52% | 6,394 | $715K | Reduce -1.9% |
| SCHD Schwab US DVD Equity ETF | 0.51% | 24,787 | $693K | Reduce -2.6% |
| PG The Procter & Gamble Co. | 0.50% | 4,045 | $689K | No change |
| VRT Vertiv Holdings Co. Class A | 0.50% | 9,384 | $678K | New |
| BA The Boeing Co. | 0.49% | 3,947 | $673K | New |
| SCHZ Schwab US Aggregate Bond ETF | 0.47% | 27,874 | $646K | Add +0.1% |
| EQIX Equinix Inc. | 0.47% | 783 | $638K | Reduce -1.9% |
| SCHG Schwab US Large-Cap Growth | 0.45% | 24,766 | $620K | Add +3.5% |
| SCHJ Schwab 1-5 YR Corp. BND ETF | 0.44% | 24,460 | $603K | Add +0.2% |
| SPG Simon Property Group Inc. | 0.35% | 2,846 | $473K | Reduce -1.8% |
| SCHR Schwab Intermediate-Term US | 0.34% | 18,408 | $458K | Add +0.2% |
| SCHO Schwab Short-Term US Treas | 0.32% | 17,790 | $433K | Add +0.1% |
| SCHB Schwab US Broad Market ETF | 0.30% | 18,999 | $409K | No change |
| PSA Public Storage | 0.29% | 1,329 | $398K | Reduce -1.8% |
| CCI Crown Castle Inc. | 0.29% | 3,747 | $391K | No change |
| DLR Digital Realty Trust Inc. | 0.26% | 2,458 | $352K | Reduce -1.8% |
| SCHM Schwab US Mid Cap ETF | 0.25% | 12,869 | $337K | Add +0.1% |
| AWR American States Water Co. filed as AMER STATES WTR CO | 0.22% | 3,750 | $295K | No change |
| AVB Avalonbay Communities Inc. | 0.19% | 1,209 | $259K | Reduce -1.8% |
| SBAC SBA Communications Corp. | 0.15% | 946 | $208K | No change |
| REZ Ishars Res and Multi Reales | 0.15% | 2,375 | $205K | No change |
| OPEN Opendoor Technologies Inc. | 0.01% | 10,000 | $10K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| HSY The Hershey Co. | Sold out | 0.00% | −1.28 |
| ADBE Adobe Inc. | Sold out | 0.00% | −1.25 |
| ELV Elevance Health Inc. | Sold out | 0.00% | −1.01 |
| LVMUY LVMH Moet Hennessy-Unsp ADR | Sold out | 0.00% | −0.74 |
| MCD McDonald's Corp. | Sold out | 0.00% | −0.72 |
| MDLZ Mondelez International Inc. Class A | Sold out | 0.00% | −0.54 |
| GPC Genuine Parts Co. | Sold out | 0.00% | −0.39 |
| GOOG Alphabet Inc. Class C | Reduce -1.1% | 0.93% | −0.16 |
| LMT Lockheed Martin Corp. | Sold out | 0.00% | −0.12 |
| FLUT Flutter Entertainment PLC-Di | Reduce -0.3% | 0.94% | −0.11 |
| BLK BlackRock Inc. | Reduce -1.8% | 1.92% | −0.10 |
| EQIX Equinix Inc. | Reduce -1.9% | 0.47% | −0.06 |
| DLR Digital Realty Trust Inc. | Reduce -1.8% | 0.26% | −0.05 |
| MRK Merck & Co. Inc. | Reduce -0.3% | 0.59% | −0.03 |
| HON Honeywell International Inc. | Reduce -0.2% | 0.61% | −0.01 |
| CSCO Cisco Systems Inc. | Reduce -9.1% | 1.07% | −0.01 |
| SPG Simon Property Group Inc. | Reduce -1.8% | 0.35% | −0.00 |
| GS Goldman Sachs Group Inc. | Reduce -0.3% | 0.59% | −0.00 |
| AVB Avalonbay Communities Inc. | Reduce -1.8% | 0.19% | +0.00 |
| PSA Public Storage | Reduce -1.8% | 0.29% | +0.01 |
| SCHD Schwab US DVD Equity ETF | Reduce -2.6% | 0.51% | +0.02 |
| NFLX Netflix Inc. | Reduce -6.9% | 1.33% | +0.03 |
| PEP Pepsico Inc. | Reduce -0.2% | 0.90% | +0.03 |
| PLD Prologis Inc. | Reduce -1.9% | 0.52% | +0.04 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -0.1% | 0.77% | +0.06 |
| JPM JPMorgan Chase & Co. | Reduce -2.1% | 1.69% | +0.08 |
| TRV The Travelers Cos Inc. | Reduce -0.5% | 0.65% | +0.08 |
| SCHP Schwab U.S. Tips ETF | Reduce -0.5% | 1.17% | +0.09 |
| AMT American Tower Corp. | Reduce -1.9% | 0.64% | +0.12 |
| MDT Medtronic PLC | Reduce -3.3% | 0.97% | +0.12 |
| AWK American Water Works Co. Inc. | Reduce -8.2% | 1.25% | +0.16 |
| AMGN Amgen Inc. | Reduce -0.7% | 1.57% | +0.31 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.2% | 2.72% | +0.51 |
Portfolio Buys Q4 2024 → Q1 2025
| BX Blackstone Inc. | New | 0.84% | +0.84 |
| DAL Delta Air Lines Inc. | New | 0.56% | +0.56 |
| VRT Vertiv Holdings Co. Class A | New | 0.50% | +0.50 |
| BA The Boeing Co. | New | 0.49% | +0.49 |
| V Visa Inc. Class A | Add +0.7% | 2.92% | +0.43 |
| ABBV Abbvie Inc. | Add +5.3% | 1.67% | +0.39 |
| JNJ Johnson & Johnson | Add +0.7% | 1.73% | +0.30 |
| UBER Uber Technologies Inc. | Add +10.7% | 1.02% | +0.29 |
| WM Waste Management Inc. | Add +4.4% | 1.38% | +0.28 |
| FISV Fiserv Inc. | Add +10.5% | 1.26% | +0.25 |
| CB Chubb Ltd. | Add +1.7% | 1.67% | +0.24 |
| ADP Automatic Data Processing | Add +0.4% | 2.59% | +0.23 |
| LLY Eli Lilly & Co. | Add +3.6% | 1.53% | +0.21 |
| XOM Exxon Mobil Corp. | Add +13.2% | 0.89% | +0.21 |
| CVX Chevron Corp. | Add +2.1% | 1.01% | +0.19 |
| META Meta Platforms Inc. Class A | Add +3.5% | 2.92% | +0.19 |
| UNP Union Pacific Corp. | Add +5.2% | 1.36% | +0.17 |
| SPGI S&P Global Inc. | Add +3.6% | 1.61% | +0.16 |
| SYK Stryker Corp. | Add +0.2% | 1.76% | +0.14 |
| COST Costco Wholesale Corp. | Add +1.6% | 1.43% | +0.13 |
| MLM Martin Marietta Materials | Add +11.9% | 1.25% | +0.10 |
| SCHV Schwab US Large-Cap Value | Add +0.1% | 1.22% | +0.08 |
| NEE Nextera Energy Inc. | Add +1.9% | 1.37% | +0.07 |
| HD Home Depot Inc. | Add +10.7% | 0.79% | +0.07 |
| UNH Unitedhealth Group Inc. | Add +0.4% | 0.71% | +0.06 |
| SCHH Schwab US REIT ETF | Add +0.0% | 0.82% | +0.05 |
| CPAY Corpay Inc. | Add +0.4% | 0.69% | +0.05 |
| WAT Waters Corp. | Add +1.0% | 0.85% | +0.04 |
| SCHZ Schwab US Aggregate Bond ETF | Add +0.1% | 0.47% | +0.03 |
| SCHJ Schwab 1-5 YR Corp. BND ETF | Add +0.2% | 0.44% | +0.03 |
| SCHR Schwab Intermediate-Term US | Add +0.2% | 0.34% | +0.02 |
| SCHO Schwab Short-Term US Treas | Add +0.1% | 0.32% | +0.02 |
| SCHM Schwab US Mid Cap ETF | Add +0.1% | 0.25% | −0.00 |
| SCHG Schwab US Large-Cap Growth | Add +3.5% | 0.45% | −0.01 |
| PYPL PayPal Holdings Inc. | Add +2.1% | 0.71% | −0.16 |
| AMZN Amazon.com Inc. | Add +3.9% | 3.22% | −0.19 |
| MSFT Microsoft Corp. | Add +1.4% | 7.12% | −0.40 |
| AVGO Broadcom Inc. | Add +4.9% | 1.69% | −0.44 |
| AAPL Apple Inc. | Add +2.5% | 9.10% | −0.45 |
| GOOGL Alphabet Inc. Class A | Add +0.6% | 3.22% | −0.52 |
| NVDA Nvidia Corp. | Add +1.8% | 4.35% | −0.70 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 84 | $151.9M | AAPL, NVDA, MSFT, GOOGL, AMZN |
| Q1 2026 | 83 | $141.2M | AAPL, MSFT, NVDA, GOOGL, AMZN |
| Q4 2025 | 83 | $149.0M | AAPL, MSFT, NVDA, GOOGL, AMZN |
| Q3 2025 | 85 | $154.0M | AAPL, MSFT, NVDA, GOOGL, AMZN |
| Q2 2025 | 83 | $151.2M | MSFT, AAPL, NVDA, AMZN, META |
| Q1 2025 | 81 | $136.6M | AAPL, MSFT, NVDA, AMZN, GOOGL |
| Q4 2024 | 85 | $143.2M | AAPL, MSFT, NVDA, GOOGL, AMZN |
| Q3 2024 | 84 | $142.1M | AAPL, MSFT, NVDA, GOOGL, AMZN |
| Q2 2024 | 84 | $138.2M | AAPL, MSFT, NVDA, GOOGL, AMZN |
| Q1 2024 | 89 | $143.9M | MSFT, AAPL, NVDA, GOOGL, AMZN |