Lederer & Associates Investment Counsel
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 14, 2025), Lederer & Associates Investment Counsel reported 83 stock positions worth $151.2 million. Its top holding was Microsoft (MSFT) at 8.1% of the portfolio, followed by Apple (AAPL, 7.5%) and Nvidia (NVDA, 5.7%). Compared with Q1 2025, it opened 7 new positions, sold out of 5, added to 25 and reduced 46. The biggest buy was a new position in Linde (LIN) and the biggest sale Apple (AAPL, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- LONG BEACH, CA
- CIK
- 0001089707
- Portfolio Value
- $151.2M (Q2 2025)
- SEC Filing
- 0001089707-25-000003 ↗ filed Jul 14, 2025
Holdings Value
Holdings 83 stocks · $151.2M
| MSFT Microsoft Corp. | 8.09% | 24,596 | $12.2M | Reduce -5.0% |
| AAPL Apple Inc. | 7.54% | 55,517 | $11.4M | Reduce -0.8% |
| NVDA Nvidia Corp. | 5.70% | 54,565 | $8.6M | Reduce -0.4% |
| AMZN Amazon.com Inc. | 3.41% | 23,465 | $5.1M | Add +1.4% |
| META Meta Platforms Inc. Class A | 3.37% | 6,892 | $5.1M | Reduce -0.3% |
| GOOGL Alphabet Inc. Class A | 2.93% | 25,126 | $4.4M | Reduce -11.6% |
| V Visa Inc. Class A | 2.67% | 11,354 | $4.0M | Reduce -0.1% |
| ADP Automatic Data Processing | 2.33% | 11,408 | $3.5M | Reduce -1.5% |
| AVGO Broadcom Inc. | 2.27% | 12,432 | $3.4M | Reduce -9.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.22% | 6,900 | $3.4M | Reduce -1.3% |
| BLK BlackRock Inc. | 1.88% | 2,712 | $2.8M | Reduce -2.3% |
| JPM JPMorgan Chase & Co. | 1.78% | 9,279 | $2.7M | Reduce -1.5% |
| NFLX Netflix Inc. | 1.68% | 1,898 | $2.5M | Reduce -2.4% |
| SYK Stryker Corp. | 1.62% | 6,197 | $2.5M | Reduce -3.8% |
| SPGI S&P Global Inc. | 1.49% | 4,273 | $2.3M | Reduce -1.1% |
| CB Chubb Ltd. | 1.45% | 7,545 | $2.2M | Reduce -0.3% |
| LLY Eli Lilly & Co. | 1.42% | 2,755 | $2.1M | Add +8.6% |
| COST Costco Wholesale Corp. | 1.42% | 2,165 | $2.1M | Add +4.8% |
| JNJ Johnson & Johnson | 1.38% | 13,690 | $2.1M | Reduce -4.1% |
| GLD SPDR Gold Shares | 1.37% | 6,815 | $2.1M | No change |
| ABBV Abbvie Inc. | 1.35% | 11,004 | $2.0M | Add +1.2% |
| MLM Martin Marietta Materials | 1.28% | 3,527 | $1.9M | Reduce -1.0% |
| AMGN Amgen Inc. | 1.27% | 6,858 | $1.9M | Reduce -0.5% |
| UNP Union Pacific Corp. | 1.22% | 8,021 | $1.8M | Add +2.0% |
| WM Waste Management Inc. | 1.20% | 7,908 | $1.8M | Reduce -3.0% |
| NEE Nextera Energy Inc. | 1.18% | 25,741 | $1.8M | Reduce -2.2% |
| UBER Uber Technologies Inc. | 1.18% | 19,033 | $1.8M | No change |
| FLUT Flutter Entertainment PLC-Di | 1.16% | 6,141 | $1.8M | Add +5.5% |
| SCHV Schwab US Large-Cap Value | 1.14% | 62,114 | $1.7M | Reduce -0.6% |
| LIN Linde PLC | 1.13% | 3,648 | $1.7M | New |
| FISV Fiserv Inc. | 1.08% | 9,512 | $1.6M | Add +22.4% |
| CSCO Cisco Systems Inc. | 1.08% | 23,428 | $1.6M | Reduce -1.1% |
| SCHP Schwab U.S. Tips ETF | 1.05% | 59,220 | $1.6M | Reduce -0.6% |
| BA The Boeing Co. | 1.01% | 7,269 | $1.5M | Add +84.2% |
| BX Blackstone Inc. | 0.99% | 10,035 | $1.5M | Add +22.1% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.99% | 2,933 | $1.5M | Reduce -1.3% |
| AWK American Water Works Co. Inc. | 0.95% | 10,372 | $1.4M | Reduce -10.7% |
| DAL Delta Air Lines Inc. | 0.87% | 26,788 | $1.3M | Add +52.5% |
| GLW Corning Inc. | 0.85% | 24,305 | $1.3M | New |
| MDT Medtronic PLC | 0.85% | 14,665 | $1.3M | Reduce -0.8% |
| SBUX Starbucks Corp. | 0.79% | 13,008 | $1.2M | New |
| CVX Chevron Corp. | 0.78% | 8,243 | $1.2M | Add +0.1% |
| CME Cme Group Inc. | 0.77% | 4,239 | $1.2M | Add +2.7% |
| WAT Waters Corp. | 0.74% | 3,210 | $1.1M | Add +1.7% |
| PYPL PayPal Holdings Inc. | 0.73% | 14,918 | $1.1M | Reduce -0.1% |
| XOM Exxon Mobil Corp. | 0.73% | 10,192 | $1.1M | Reduce -0.5% |
| SYY Sysco Corp. | 0.73% | 14,474 | $1.1M | Add +2.8% |
| SCHH Schwab US REIT ETF | 0.72% | 51,759 | $1.1M | Reduce -0.7% |
| ITW Illinois Tool Works | 0.72% | 4,423 | $1.1M | New |
| HD Home Depot Inc. | 0.71% | 2,926 | $1.1M | Reduce -0.1% |
| GS Goldman Sachs Group Inc. | 0.69% | 1,484 | $1.1M | Reduce -0.1% |
| BMY Bristol-Myers Squibb Co. | 0.66% | 21,597 | $1.0M | Add +2.3% |
| CRM Salesforce Inc. | 0.66% | 3,633 | $991K | New |
| KMB Kimberly-Clark Corp. | 0.63% | 7,342 | $947K | Add +14.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.63% | 20,000 | $946K | No change |
| PEP Pepsico Inc. | 0.62% | 7,077 | $934K | Reduce -14.2% |
| HON Honeywell International Inc. | 0.60% | 3,922 | $913K | Reduce -0.1% |
| CTSH Cognizant Tech Solutions-A | 0.60% | 11,598 | $905K | Reduce -2.6% |
| CPAY Corpay Inc. | 0.60% | 2,713 | $900K | No change |
| TRV The Travelers Cos Inc. | 0.59% | 3,355 | $898K | Reduce -0.1% |
| AMT American Tower Corp. | 0.56% | 3,812 | $843K | Reduce -4.4% |
| MRK Merck & Co. Inc. | 0.55% | 10,422 | $825K | Add +16.5% |
| PLD Prologis Inc. | 0.49% | 7,084 | $745K | Add +10.8% |
| KO The Coca-Cola Co. | 0.48% | 10,317 | $730K | Reduce -50.0% |
| WELL Welltower Inc. | 0.48% | 4,696 | $722K | New |
| SCHG Schwab US Large-Cap Growth | 0.47% | 24,524 | $716K | Reduce -1.0% |
| GOOG Alphabet Inc. Class C | 0.45% | 3,811 | $676K | Reduce -52.9% |
| SCHD Schwab US DVD Equity ETF | 0.44% | 25,162 | $667K | Add +1.5% |
| SCHZ Schwab US Aggregate Bond ETF | 0.43% | 27,914 | $649K | Add +0.1% |
| VRT Vertiv Holdings Co. Class A | 0.41% | 4,812 | $618K | Reduce -48.7% |
| SCHJ Schwab 1-5 YR Corp. BND ETF | 0.40% | 24,435 | $606K | Reduce -0.1% |
| SCHB Schwab US Broad Market ETF | 0.36% | 22,924 | $546K | Add +20.7% |
| PG The Procter & Gamble Co. | 0.35% | 3,285 | $523K | Reduce -18.8% |
| DLR Digital Realty Trust Inc. | 0.31% | 2,710 | $472K | Add +10.3% |
| SCHR Schwab Intermediate-Term US | 0.30% | 18,434 | $461K | Add +0.1% |
| EQIX Equinix Inc. | 0.29% | 560 | $445K | Reduce -28.5% |
| SCHO Schwab Short-Term US Treas | 0.29% | 17,820 | $434K | Add +0.2% |
| O Realty Income Corp. | 0.27% | 7,083 | $408K | New |
| SPG Simon Property Group Inc. | 0.27% | 2,525 | $406K | Reduce -11.3% |
| PSA Public Storage | 0.25% | 1,313 | $385K | Reduce -1.2% |
| CCI Crown Castle Inc. | 0.24% | 3,596 | $369K | Reduce -4.0% |
| SCHM Schwab US Mid Cap ETF | 0.24% | 12,874 | $361K | Add +0.0% |
| REZ Ishars Res and Multi Reales | 0.13% | 2,375 | $196K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| AAPL Apple Inc. | Reduce -0.8% | 7.54% | −1.57 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.71 |
| KO The Coca-Cola Co. | Reduce -50.0% | 0.48% | −0.60 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.3% | 2.22% | −0.51 |
| GOOG Alphabet Inc. Class C | Reduce -52.9% | 0.45% | −0.48 |
| JNJ Johnson & Johnson | Reduce -4.1% | 1.38% | −0.35 |
| AMGN Amgen Inc. | Reduce -0.5% | 1.27% | −0.31 |
| AWK American Water Works Co. Inc. | Reduce -10.7% | 0.95% | −0.30 |
| GOOGL Alphabet Inc. Class A | Reduce -11.6% | 2.93% | −0.29 |
| PEP Pepsico Inc. | Reduce -14.2% | 0.62% | −0.29 |
| ADP Automatic Data Processing | Reduce -1.5% | 2.33% | −0.26 |
| V Visa Inc. Class A | Reduce -0.1% | 2.67% | −0.25 |
| CB Chubb Ltd. | Reduce -0.3% | 1.45% | −0.23 |
| AWR American States Water Co. | Sold out | 0.00% | −0.22 |
| AVB Avalonbay Communities Inc. | Sold out | 0.00% | −0.19 |
| WM Waste Management Inc. | Reduce -3.0% | 1.20% | −0.18 |
| NEE Nextera Energy Inc. | Reduce -2.2% | 1.18% | −0.18 |
| EQIX Equinix Inc. | Reduce -28.5% | 0.29% | −0.17 |
| XOM Exxon Mobil Corp. | Reduce -0.5% | 0.73% | −0.16 |
| PG The Procter & Gamble Co. | Reduce -18.8% | 0.35% | −0.16 |
| SBAC SBA Communications Corp. | Sold out | 0.00% | −0.15 |
| SYK Stryker Corp. | Reduce -3.8% | 1.62% | −0.13 |
| SCHP Schwab U.S. Tips ETF | Reduce -0.6% | 1.05% | −0.13 |
| MDT Medtronic PLC | Reduce -0.8% | 0.85% | −0.13 |
| SPGI S&P Global Inc. | Reduce -1.1% | 1.49% | −0.12 |
| SCHH Schwab US REIT ETF | Reduce -0.7% | 0.72% | −0.10 |
| VRT Vertiv Holdings Co. Class A | Reduce -48.7% | 0.41% | −0.09 |
| SCHV Schwab US Large-Cap Value | Reduce -0.6% | 1.14% | −0.08 |
| AMT American Tower Corp. | Reduce -4.4% | 0.56% | −0.08 |
| SPG Simon Property Group Inc. | Reduce -11.3% | 0.27% | −0.08 |
| HD Home Depot Inc. | Reduce -0.1% | 0.71% | −0.08 |
| CTSH Cognizant Tech Solutions-A | Reduce -2.6% | 0.60% | −0.07 |
| TRV The Travelers Cos Inc. | Reduce -0.1% | 0.59% | −0.06 |
| CCI Crown Castle Inc. | Reduce -4.0% | 0.24% | −0.04 |
| SCHJ Schwab 1-5 YR Corp. BND ETF | Reduce -0.1% | 0.40% | −0.04 |
| BLK BlackRock Inc. | Reduce -2.3% | 1.88% | −0.04 |
| PSA Public Storage | Reduce -1.2% | 0.25% | −0.04 |
| OPEN Opendoor Technologies Inc. | Sold out | 0.00% | −0.01 |
| HON Honeywell International Inc. | Reduce -0.1% | 0.60% | −0.00 |
| CSCO Cisco Systems Inc. | Reduce -1.1% | 1.08% | +0.01 |
| SCHG Schwab US Large-Cap Growth | Reduce -1.0% | 0.47% | +0.02 |
| PYPL PayPal Holdings Inc. | Reduce -0.1% | 0.73% | +0.02 |
| MLM Martin Marietta Materials | Reduce -1.0% | 1.28% | +0.03 |
| JPM JPMorgan Chase & Co. | Reduce -1.5% | 1.78% | +0.09 |
| GS Goldman Sachs Group Inc. | Reduce -0.1% | 0.69% | +0.10 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -1.3% | 0.99% | +0.22 |
| NFLX Netflix Inc. | Reduce -2.4% | 1.68% | +0.35 |
| META Meta Platforms Inc. Class A | Reduce -0.3% | 3.37% | +0.45 |
| AVGO Broadcom Inc. | Reduce -9.6% | 2.27% | +0.58 |
| MSFT Microsoft Corp. | Reduce -5.0% | 8.09% | +0.98 |
Portfolio Buys Q1 2025 → Q2 2025
| LIN Linde PLC | New | 1.13% | +1.13 |
| GLW Corning Inc. | New | 0.85% | +0.85 |
| SBUX Starbucks Corp. | New | 0.79% | +0.79 |
| ITW Illinois Tool Works | New | 0.72% | +0.72 |
| CRM Salesforce Inc. | New | 0.66% | +0.66 |
| BA The Boeing Co. | Add +84.2% | 1.01% | +0.51 |
| WELL Welltower Inc. | New | 0.48% | +0.48 |
| DAL Delta Air Lines Inc. | Add +52.5% | 0.87% | +0.31 |
| O Realty Income Corp. | New | 0.27% | +0.27 |
| FLUT Flutter Entertainment PLC-Di | Add +5.5% | 1.16% | +0.22 |
| AMZN Amazon.com Inc. | Add +1.4% | 3.41% | +0.18 |
| BX Blackstone Inc. | Add +22.1% | 0.99% | +0.15 |
| SCHB Schwab US Broad Market ETF | Add +20.7% | 0.36% | +0.06 |
| DLR Digital Realty Trust Inc. | Add +10.3% | 0.31% | +0.05 |
| SCHM Schwab US Mid Cap ETF | Add +0.0% | 0.24% | −0.01 |
| COST Costco Wholesale Corp. | Add +4.8% | 1.42% | −0.01 |
| CME Cme Group Inc. | Add +2.7% | 0.77% | −0.03 |
| SCHO Schwab Short-Term US Treas | Add +0.2% | 0.29% | −0.03 |
| SCHR Schwab Intermediate-Term US | Add +0.1% | 0.30% | −0.03 |
| PLD Prologis Inc. | Add +10.8% | 0.49% | −0.03 |
| KMB Kimberly-Clark Corp. | Add +14.8% | 0.63% | −0.04 |
| MRK Merck & Co. Inc. | Add +16.5% | 0.55% | −0.04 |
| SCHZ Schwab US Aggregate Bond ETF | Add +0.1% | 0.43% | −0.04 |
| SYY Sysco Corp. | Add +2.8% | 0.73% | −0.05 |
| SCHD Schwab US DVD Equity ETF | Add +1.5% | 0.44% | −0.07 |
| WAT Waters Corp. | Add +1.7% | 0.74% | −0.11 |
| LLY Eli Lilly & Co. | Add +8.6% | 1.42% | −0.11 |
| UNP Union Pacific Corp. | Add +2.0% | 1.22% | −0.14 |
| FISV Fiserv Inc. | Add +22.4% | 1.08% | −0.17 |
| CVX Chevron Corp. | Add +0.1% | 0.78% | −0.23 |
| BMY Bristol-Myers Squibb Co. | Add +2.3% | 0.66% | −0.28 |
| ABBV Abbvie Inc. | Add +1.2% | 1.35% | −0.32 |
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 |