Lederer & Associates Investment Counsel
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 24, 2025), Lederer & Associates Investment Counsel reported 85 stock positions worth $154.0 million. Its top holding was Apple (AAPL) at 8.6% of the portfolio, followed by Microsoft (MSFT, 8.0%) and Nvidia (NVDA, 6.2%). Compared with Q2 2025, it opened 3 new positions, sold out of 1, added to 19 and reduced 55. The biggest buy was a new position in Fair Isaac (FICO) and the biggest sale Eli Lilly (LLY, shares −87%).
- Most Recent 13F
- Q2 2026
- Location
- LONG BEACH, CA
- CIK
- 0001089707
- Portfolio Value
- $154.0M (Q3 2025)
- SEC Filing
- 0001089707-25-000006 ↗ filed Oct 24, 2025
Holdings Value
Holdings 85 stocks · $154.0M
| AAPL Apple Inc. | 8.57% | 51,861 | $13.2M | Reduce -6.6% |
| MSFT Microsoft Corp. | 7.97% | 23,694 | $12.3M | Reduce -3.7% |
| NVDA Nvidia Corp. | 6.19% | 51,131 | $9.5M | Reduce -6.3% |
| GOOGL Alphabet Inc. Class A | 3.70% | 23,451 | $5.7M | Reduce -6.7% |
| AMZN Amazon.com Inc. | 3.35% | 23,499 | $5.2M | Add +0.1% |
| META Meta Platforms Inc. Class A | 3.08% | 6,462 | $4.7M | Reduce -6.2% |
| AVGO Broadcom Inc. | 2.49% | 11,648 | $3.8M | Reduce -6.3% |
| V Visa Inc. Class A | 2.32% | 10,490 | $3.6M | Reduce -7.6% |
| ADP Automatic Data Processing | 2.10% | 11,025 | $3.2M | Reduce -3.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.01% | 6,165 | $3.1M | Reduce -10.7% |
| BLK BlackRock Inc. | 2.00% | 2,648 | $3.1M | Reduce -2.4% |
| JPM JPMorgan Chase & Co. | 1.84% | 9,004 | $2.8M | Reduce -3.0% |
| ABBV Abbvie Inc. | 1.65% | 10,967 | $2.5M | Reduce -0.3% |
| JNJ Johnson & Johnson | 1.60% | 13,284 | $2.5M | Reduce -3.0% |
| GLD SPDR Gold Shares | 1.59% | 6,890 | $2.4M | Add +1.1% |
| NFLX Netflix Inc. | 1.39% | 1,785 | $2.1M | Reduce -6.0% |
| CB Chubb Ltd. | 1.36% | 7,422 | $2.1M | Reduce -1.6% |
| COST Costco Wholesale Corp. | 1.35% | 2,248 | $2.1M | Add +3.8% |
| MLM Martin Marietta Materials | 1.34% | 3,273 | $2.1M | Reduce -7.2% |
| SYK Stryker Corp. | 1.32% | 5,493 | $2.0M | Reduce -11.4% |
| LIN Linde PLC | 1.26% | 4,101 | $1.9M | Add +12.4% |
| SCHV Schwab US Large-Cap Value | 1.26% | 66,748 | $1.9M | Add +7.5% |
| SPGI S&P Global Inc. | 1.25% | 3,961 | $1.9M | Reduce -7.3% |
| NEE Nextera Energy Inc. | 1.24% | 25,351 | $1.9M | Reduce -1.5% |
| AMGN Amgen Inc. | 1.22% | 6,683 | $1.9M | Reduce -2.5% |
| WM Waste Management Inc. | 1.21% | 8,427 | $1.9M | Add +6.6% |
| UNP Union Pacific Corp. | 1.20% | 7,801 | $1.8M | Reduce -2.7% |
| XOM Exxon Mobil Corp. | 1.13% | 15,505 | $1.7M | Add +52.1% |
| UBER Uber Technologies Inc. | 1.11% | 17,476 | $1.7M | Reduce -8.2% |
| CSCO Cisco Systems Inc. | 1.06% | 23,916 | $1.6M | Add +2.1% |
| BX Blackstone Inc. | 1.04% | 9,405 | $1.6M | Reduce -6.3% |
| GLW Corning Inc. | 1.01% | 18,927 | $1.6M | Reduce -22.1% |
| SCHP Schwab U.S. Tips ETF | 1.00% | 57,130 | $1.5M | Reduce -3.5% |
| BA The Boeing Co. | 0.97% | 6,912 | $1.5M | Reduce -4.9% |
| FLUT Flutter Entertainment PLC-Di | 0.94% | 5,719 | $1.5M | Reduce -6.9% |
| AWK American Water Works Co. Inc. | 0.94% | 10,359 | $1.4M | Reduce -0.1% |
| DAL Delta Air Lines Inc. | 0.92% | 25,018 | $1.4M | Reduce -6.6% |
| SCHG Schwab US Large-Cap Growth | 0.91% | 43,971 | $1.4M | Add +79.3% |
| FISV Fiserv Inc. | 0.91% | 10,848 | $1.4M | Add +14.1% |
| MDT Medtronic PLC | 0.89% | 14,397 | $1.4M | Reduce -1.8% |
| CME Cme Group Inc. | 0.87% | 4,956 | $1.3M | Add +16.9% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.86% | 2,698 | $1.3M | Reduce -8.0% |
| HD Home Depot Inc. | 0.77% | 2,924 | $1.2M | Reduce -0.1% |
| ITW Illinois Tool Works | 0.77% | 4,535 | $1.2M | Add +2.5% |
| GS Goldman Sachs Group Inc. | 0.77% | 1,484 | $1.2M | No change |
| FICO Fair Isaac Corp. | 0.76% | 779 | $1.2M | New |
| SYY Sysco Corp. | 0.74% | 13,795 | $1.1M | Reduce -4.7% |
| SBUX Starbucks Corp. | 0.73% | 13,368 | $1.1M | Add +2.8% |
| SCHH Schwab US REIT ETF | 0.73% | 51,995 | $1.1M | Add +0.5% |
| TRV The Travelers Cos Inc. | 0.61% | 3,355 | $937K | No change |
| PYPL PayPal Holdings Inc. | 0.60% | 13,868 | $930K | Reduce -7.0% |
| WAT Waters Corp. | 0.59% | 3,035 | $910K | Reduce -5.5% |
| BMY Bristol-Myers Squibb Co. | 0.58% | 19,787 | $892K | Reduce -8.4% |
| PEP Pepsico Inc. | 0.57% | 6,247 | $877K | Reduce -11.7% |
| KMB Kimberly-Clark Corp. | 0.57% | 7,044 | $876K | Reduce -4.1% |
| CRM Salesforce Inc. | 0.56% | 3,633 | $861K | No change |
| WELL Welltower Inc. | 0.55% | 4,749 | $846K | Add +1.1% |
| HON Honeywell International Inc. | 0.54% | 3,922 | $826K | No change |
| MRK Merck & Co. Inc. | 0.53% | 9,733 | $817K | Reduce -6.6% |
| PLD Prologis Inc. | 0.51% | 6,814 | $780K | Reduce -3.8% |
| GOOG Alphabet Inc. Class C | 0.50% | 3,186 | $776K | Reduce -16.4% |
| VRT Vertiv Holdings Co. Class A | 0.50% | 5,094 | $768K | Add +5.9% |
| CPAY Corpay Inc. | 0.47% | 2,503 | $721K | Reduce -7.7% |
| CTSH Cognizant Tech Solutions-A | 0.46% | 10,598 | $711K | Reduce -8.6% |
| AMT American Tower Corp. | 0.46% | 3,653 | $703K | Reduce -4.2% |
| KO The Coca-Cola Co. | 0.44% | 10,317 | $684K | No change |
| SCHD Schwab US DVD Equity ETF | 0.42% | 23,912 | $653K | Reduce -5.0% |
| CVX Chevron Corp. | 0.42% | 4,155 | $645K | Reduce -49.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.40% | 12,000 | $619K | Reduce -40.0% |
| SCHZ Schwab US Aggregate Bond ETF | 0.36% | 23,600 | $554K | Reduce -15.4% |
| SCHB Schwab US Broad Market ETF | 0.34% | 20,474 | $526K | Reduce -10.7% |
| PG The Procter & Gamble Co. | 0.33% | 3,285 | $505K | No change |
| SCHJ Schwab 1-5 YR Corp. BND ETF | 0.32% | 19,650 | $490K | Reduce -19.6% |
| SPG Simon Property Group Inc. | 0.31% | 2,539 | $476K | Add +0.6% |
| DLR Digital Realty Trust Inc. | 0.31% | 2,741 | $474K | Add +1.1% |
| EQIX Equinix Inc. | 0.28% | 560 | $439K | No change |
| O Realty Income Corp. | 0.28% | 7,163 | $435K | Add +1.1% |
| PSA Public Storage | 0.24% | 1,261 | $364K | Reduce -4.0% |
| SCHR Schwab Intermediate-Term US | 0.23% | 14,152 | $356K | Reduce -23.2% |
| CCI Crown Castle Inc. | 0.22% | 3,445 | $332K | Reduce -4.2% |
| SCHO Schwab Short-Term US Treas | 0.20% | 12,910 | $315K | Reduce -27.6% |
| LLY Eli Lilly & Co. | 0.18% | 361 | $275K | Reduce -86.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.15% | 346 | $230K | New |
| MS Morgan Stanley | 0.13% | 1,275 | $203K | New |
| REZ Ishars Res and Multi Reales | 0.13% | 2,375 | $202K | No change |
Portfolio Sells Q2 2025 → Q3 2025
| LLY Eli Lilly & Co. | Reduce -86.9% | 0.18% | −1.24 |
| CVX Chevron Corp. | Reduce -49.6% | 0.42% | −0.36 |
| V Visa Inc. Class A | Reduce -7.6% | 2.32% | −0.34 |
| SYK Stryker Corp. | Reduce -11.4% | 1.32% | −0.30 |
| NFLX Netflix Inc. | Reduce -6.0% | 1.39% | −0.29 |
| META Meta Platforms Inc. Class A | Reduce -6.2% | 3.08% | −0.28 |
| SPGI S&P Global Inc. | Reduce -7.3% | 1.25% | −0.24 |
| SCHM Schwab US Mid Cap ETF | Sold out | 0.00% | −0.24 |
| ADP Automatic Data Processing | Reduce -3.4% | 2.10% | −0.23 |
| BAC Bank of America Corp. | Reduce -40.0% | 0.40% | −0.22 |
| FLUT Flutter Entertainment PLC-Di | Reduce -6.9% | 0.94% | −0.22 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -10.7% | 2.01% | −0.21 |
| WAT Waters Corp. | Reduce -5.5% | 0.59% | −0.15 |
| CTSH Cognizant Tech Solutions-A | Reduce -8.6% | 0.46% | −0.14 |
| PYPL PayPal Holdings Inc. | Reduce -7.0% | 0.60% | −0.13 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -8.0% | 0.86% | −0.13 |
| CPAY Corpay Inc. | Reduce -7.7% | 0.47% | −0.13 |
| MSFT Microsoft Corp. | Reduce -3.7% | 7.97% | −0.13 |
| AMT American Tower Corp. | Reduce -4.2% | 0.46% | −0.10 |
| CB Chubb Ltd. | Reduce -1.6% | 1.36% | −0.09 |
| SCHJ Schwab 1-5 YR Corp. BND ETF | Reduce -19.6% | 0.32% | −0.08 |
| SCHO Schwab Short-Term US Treas | Reduce -27.6% | 0.20% | −0.08 |
| BMY Bristol-Myers Squibb Co. | Reduce -8.4% | 0.58% | −0.08 |
| SCHR Schwab Intermediate-Term US | Reduce -23.2% | 0.23% | −0.07 |
| SCHZ Schwab US Aggregate Bond ETF | Reduce -15.4% | 0.36% | −0.07 |
| UBER Uber Technologies Inc. | Reduce -8.2% | 1.11% | −0.06 |
| KMB Kimberly-Clark Corp. | Reduce -4.1% | 0.57% | −0.06 |
| PEP Pepsico Inc. | Reduce -11.7% | 0.57% | −0.05 |
| SCHP Schwab U.S. Tips ETF | Reduce -3.5% | 1.00% | −0.05 |
| AMGN Amgen Inc. | Reduce -2.5% | 1.22% | −0.04 |
| BA The Boeing Co. | Reduce -4.9% | 0.97% | −0.04 |
| CCI Crown Castle Inc. | Reduce -4.2% | 0.22% | −0.03 |
| UNP Union Pacific Corp. | Reduce -2.7% | 1.20% | −0.02 |
| SCHB Schwab US Broad Market ETF | Reduce -10.7% | 0.34% | −0.02 |
| AWK American Water Works Co. Inc. | Reduce -0.1% | 0.94% | −0.02 |
| PSA Public Storage | Reduce -4.0% | 0.24% | −0.02 |
| SCHD Schwab US DVD Equity ETF | Reduce -5.0% | 0.42% | −0.02 |
| MRK Merck & Co. Inc. | Reduce -6.6% | 0.53% | −0.02 |
| SYY Sysco Corp. | Reduce -4.7% | 0.74% | +0.01 |
| PLD Prologis Inc. | Reduce -3.8% | 0.51% | +0.01 |
| MDT Medtronic PLC | Reduce -1.8% | 0.89% | +0.04 |
| BX Blackstone Inc. | Reduce -6.3% | 1.04% | +0.05 |
| DAL Delta Air Lines Inc. | Reduce -6.6% | 0.92% | +0.05 |
| GOOG Alphabet Inc. Class C | Reduce -16.4% | 0.50% | +0.06 |
| MLM Martin Marietta Materials | Reduce -7.2% | 1.34% | +0.06 |
| HD Home Depot Inc. | Reduce -0.1% | 0.77% | +0.06 |
| NEE Nextera Energy Inc. | Reduce -1.5% | 1.24% | +0.06 |
| JPM JPMorgan Chase & Co. | Reduce -3.0% | 1.84% | +0.06 |
| BLK BlackRock Inc. | Reduce -2.4% | 2.00% | +0.12 |
| GLW Corning Inc. | Reduce -22.1% | 1.01% | +0.16 |
Portfolio Buys Q2 2025 → Q3 2025
| FICO Fair Isaac Corp. | New | 0.76% | +0.76 |
| SCHG Schwab US Large-Cap Growth | Add +79.3% | 0.91% | +0.44 |
| XOM Exxon Mobil Corp. | Add +52.1% | 1.13% | +0.41 |
| GLD SPDR Gold Shares | Add +1.1% | 1.59% | +0.22 |
| SPY SS SPDR S&P 500 ETF Trust-US | New | 0.15% | +0.15 |
| LIN Linde PLC | Add +12.4% | 1.26% | +0.13 |
| MS Morgan Stanley | New | 0.13% | +0.13 |
| SCHV Schwab US Large-Cap Value | Add +7.5% | 1.26% | +0.12 |
| CME Cme Group Inc. | Add +16.9% | 0.87% | +0.10 |
| VRT Vertiv Holdings Co. Class A | Add +5.9% | 0.50% | +0.09 |
| WELL Welltower Inc. | Add +1.1% | 0.55% | +0.07 |
| ITW Illinois Tool Works | Add +2.5% | 0.77% | +0.04 |
| SPG Simon Property Group Inc. | Add +0.6% | 0.31% | +0.04 |
| O Realty Income Corp. | Add +1.1% | 0.28% | +0.01 |
| WM Waste Management Inc. | Add +6.6% | 1.21% | +0.01 |
| SCHH Schwab US REIT ETF | Add +0.5% | 0.73% | +0.00 |
| DLR Digital Realty Trust Inc. | Add +1.1% | 0.31% | −0.00 |
| CSCO Cisco Systems Inc. | Add +2.1% | 1.06% | −0.01 |
| SBUX Starbucks Corp. | Add +2.8% | 0.73% | −0.05 |
| AMZN Amazon.com Inc. | Add +0.1% | 3.35% | −0.06 |
| COST Costco Wholesale Corp. | Add +3.8% | 1.35% | −0.07 |
| FISV Fiserv Inc. | Add +14.1% | 0.91% | −0.18 |
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 |