Lederer & Associates Investment Counsel
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 26, 2026), Lederer & Associates Investment Counsel reported 83 stock positions worth $149.0 million. Its top holding was Apple (AAPL) at 8.8% of the portfolio, followed by Microsoft (MSFT, 7.3%) and Nvidia (NVDA, 5.8%). Compared with Q3 2025, it opened 2 new positions, sold out of 4, added to 15 and reduced 58. The biggest buy was a new position in Airbnb Class A (ABNB) and the biggest sale Microsoft (MSFT, shares −5%).
- Most Recent 13F
- Q2 2026
- Location
- LONG BEACH, CA
- CIK
- 0001089707
- Portfolio Value
- $149.0M (Q4 2025)
- SEC Filing
- 0001089707-26-000001 ↗ filed Jan 26, 2026
Holdings Value
Holdings 83 stocks · $149.0M
| AAPL Apple Inc. | 8.84% | 48,450 | $13.2M | Reduce -6.6% |
| MSFT Microsoft Corp. | 7.32% | 22,548 | $10.9M | Reduce -4.8% |
| NVDA Nvidia Corp. | 5.85% | 46,714 | $8.7M | Reduce -8.6% |
| GOOGL Alphabet Inc. Class A | 4.47% | 21,267 | $6.7M | Reduce -9.3% |
| AMZN Amazon.com Inc. | 3.36% | 21,701 | $5.0M | Reduce -7.7% |
| AVGO Broadcom Inc. | 2.67% | 11,500 | $4.0M | Reduce -1.3% |
| META Meta Platforms Inc. Class A | 2.67% | 6,021 | $4.0M | Reduce -6.8% |
| V Visa Inc. Class A | 2.25% | 9,561 | $3.4M | Reduce -8.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.00% | 5,925 | $3.0M | Reduce -3.9% |
| JPM JPMorgan Chase & Co. | 1.96% | 9,044 | $2.9M | Add +0.4% |
| BLK BlackRock Inc. | 1.92% | 2,673 | $2.9M | Add +0.9% |
| JNJ Johnson & Johnson | 1.84% | 13,256 | $2.7M | Reduce -0.2% |
| ADP Automatic Data Processing | 1.80% | 10,403 | $2.7M | Reduce -5.6% |
| ABBV Abbvie Inc. | 1.65% | 10,755 | $2.5M | Reduce -1.9% |
| GLD SPDR Gold Shares | 1.63% | 6,140 | $2.4M | Reduce -10.9% |
| CB Chubb Ltd. | 1.57% | 7,510 | $2.3M | Add +1.2% |
| NEE Nextera Energy Inc. | 1.49% | 27,648 | $2.2M | Add +9.1% |
| SPGI S&P Global Inc. | 1.47% | 4,185 | $2.2M | Add +5.7% |
| AMGN Amgen Inc. | 1.46% | 6,640 | $2.2M | Reduce -0.6% |
| WM Waste Management Inc. | 1.36% | 9,196 | $2.0M | Add +9.1% |
| SCHV Schwab US Large-Cap Value | 1.33% | 66,702 | $2.0M | Reduce -0.1% |
| LIN Linde PLC | 1.24% | 4,332 | $1.8M | Add +5.6% |
| MLM Martin Marietta Materials | 1.23% | 2,953 | $1.8M | Reduce -9.8% |
| XOM Exxon Mobil Corp. | 1.23% | 15,261 | $1.8M | Reduce -1.6% |
| COST Costco Wholesale Corp. | 1.23% | 2,121 | $1.8M | Reduce -5.7% |
| CSCO Cisco Systems Inc. | 1.21% | 23,446 | $1.8M | Reduce -2.0% |
| UNP Union Pacific Corp. | 1.21% | 7,792 | $1.8M | Reduce -0.1% |
| SYK Stryker Corp. | 1.17% | 4,966 | $1.7M | Reduce -9.6% |
| GLW Corning Inc. | 1.10% | 18,741 | $1.6M | Reduce -1.0% |
| NFLX Netflix Inc. | 1.08% | 17,103 | $1.6M | Reduce -4.2% |
| DAL Delta Air Lines Inc. | 1.06% | 22,678 | $1.6M | Reduce -9.3% |
| SCHP Schwab U.S. Tips ETF | 1.02% | 57,130 | $1.5M | No change |
| BA The Boeing Co. | 0.98% | 6,732 | $1.5M | Reduce -2.6% |
| SCHG Schwab US Large-Cap Growth | 0.96% | 43,714 | $1.4M | Reduce -0.6% |
| UBER Uber Technologies Inc. | 0.94% | 17,204 | $1.4M | Reduce -1.6% |
| MDT Medtronic PLC | 0.90% | 14,031 | $1.3M | Reduce -2.5% |
| CME Cme Group Inc. | 0.89% | 4,851 | $1.3M | Reduce -2.1% |
| BX Blackstone Inc. | 0.84% | 8,135 | $1.3M | Reduce -13.5% |
| ABNB Airbnb Inc. Class A | 0.83% | 9,166 | $1.2M | New |
| GS Goldman Sachs Group Inc. | 0.81% | 1,369 | $1.2M | Reduce -7.8% |
| AWK American Water Works Co. Inc. | 0.79% | 9,069 | $1.2M | Reduce -12.4% |
| HD Home Depot Inc. | 0.79% | 3,439 | $1.2M | Add +17.6% |
| FICO Fair Isaac Corp. | 0.79% | 692 | $1.2M | Reduce -11.2% |
| FLUT Flutter Entertainment PLC-Di | 0.77% | 5,339 | $1.1M | Reduce -6.6% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.74% | 2,351 | $1.1M | Reduce -12.9% |
| ITW Illinois Tool Works | 0.74% | 4,467 | $1.1M | Reduce -1.5% |
| SBUX Starbucks Corp. | 0.73% | 12,962 | $1.1M | Reduce -3.0% |
| MRK Merck & Co. Inc. | 0.68% | 9,664 | $1.0M | Reduce -0.7% |
| PG The Procter & Gamble Co. | 0.68% | 7,068 | $1.0M | Add +115.2% |
| SYY Sysco Corp. | 0.67% | 13,527 | $997K | Reduce -1.9% |
| GOOG Alphabet Inc. Class C | 0.63% | 2,986 | $937K | Reduce -6.3% |
| TRV The Travelers Cos Inc. | 0.62% | 3,208 | $931K | Reduce -4.4% |
| WAT Waters Corp. | 0.61% | 2,375 | $902K | Reduce -21.8% |
| PEP Pepsico Inc. | 0.60% | 6,247 | $897K | No change |
| OTIS Otis Worldwide Corp. | 0.59% | 10,077 | $880K | New |
| WELL Welltower Inc. | 0.58% | 4,649 | $863K | Reduce -2.1% |
| PLD Prologis Inc. | 0.57% | 6,665 | $851K | Reduce -2.2% |
| CPAY Corpay Inc. | 0.56% | 2,765 | $832K | Add +10.5% |
| CRM Salesforce Inc. | 0.55% | 3,113 | $825K | Reduce -14.3% |
| CTSH Cognizant Tech Solutions-A | 0.53% | 9,483 | $787K | Reduce -10.5% |
| VRT Vertiv Holdings Co. Class A | 0.52% | 4,779 | $774K | Reduce -6.2% |
| HON Honeywell International Inc. | 0.51% | 3,922 | $765K | No change |
| PYPL PayPal Holdings Inc. | 0.51% | 13,015 | $760K | Reduce -6.2% |
| KO The Coca-Cola Co. | 0.48% | 10,317 | $721K | No change |
| SCHD Schwab US DVD Equity ETF | 0.46% | 24,911 | $683K | Add +4.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.44% | 12,000 | $660K | No change |
| FISV Fiserv Inc. | 0.43% | 9,453 | $635K | Reduce -12.9% |
| CVX Chevron Corp. | 0.42% | 4,155 | $633K | No change |
| AMT American Tower Corp. | 0.42% | 3,574 | $627K | Reduce -2.2% |
| REZ Ishars Res and Multi Reales | 0.38% | 6,905 | $571K | Add +190.7% |
| SCHB Schwab US Broad Market ETF | 0.36% | 20,474 | $537K | No change |
| SCHJ Schwab 1-5 YR Corp. BND ETF | 0.33% | 19,821 | $494K | Add +0.9% |
| SPG Simon Property Group Inc. | 0.31% | 2,487 | $460K | Reduce -2.0% |
| EQIX Equinix Inc. | 0.28% | 549 | $421K | Reduce -2.0% |
| DLR Digital Realty Trust Inc. | 0.28% | 2,685 | $415K | Reduce -2.0% |
| SCHZ Schwab US Aggregate Bond ETF | 0.28% | 17,713 | $414K | Reduce -24.9% |
| O Realty Income Corp. | 0.27% | 7,013 | $395K | Reduce -2.1% |
| SCHH Schwab US REIT ETF | 0.25% | 17,984 | $376K | Reduce -65.4% |
| SCHR Schwab Intermediate-Term US | 0.24% | 14,393 | $361K | Add +1.7% |
| LLY Eli Lilly & Co. | 0.22% | 305 | $328K | Reduce -15.5% |
| PSA Public Storage | 0.21% | 1,234 | $320K | Reduce -2.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.17% | 361 | $246K | Add +4.3% |
| MS Morgan Stanley | 0.15% | 1,275 | $226K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Reduce -4.8% | 7.32% | −0.65 |
| BMY Bristol-Myers Squibb Co. | Sold out | 0.00% | −0.58 |
| KMB Kimberly-Clark Corp. | Sold out | 0.00% | −0.57 |
| FISV Fiserv Inc. | Reduce -12.9% | 0.43% | −0.48 |
| SCHH Schwab US REIT ETF | Reduce -65.4% | 0.25% | −0.48 |
| META Meta Platforms Inc. Class A | Reduce -6.8% | 2.67% | −0.41 |
| NVDA Nvidia Corp. | Reduce -8.6% | 5.85% | −0.35 |
| NFLX Netflix Inc. | Reduce -4.2% | 1.08% | −0.31 |
| ADP Automatic Data Processing | Reduce -5.6% | 1.80% | −0.30 |
| CCI Crown Castle Inc. | Sold out | 0.00% | −0.22 |
| SCHO Schwab Short-Term US Treas | Sold out | 0.00% | −0.20 |
| BX Blackstone Inc. | Reduce -13.5% | 0.84% | −0.20 |
| FLUT Flutter Entertainment PLC-Di | Reduce -6.6% | 0.77% | −0.17 |
| UBER Uber Technologies Inc. | Reduce -1.6% | 0.94% | −0.17 |
| SYK Stryker Corp. | Reduce -9.6% | 1.17% | −0.15 |
| AWK American Water Works Co. Inc. | Reduce -12.4% | 0.79% | −0.14 |
| COST Costco Wholesale Corp. | Reduce -5.7% | 1.23% | −0.12 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -12.9% | 0.74% | −0.12 |
| MLM Martin Marietta Materials | Reduce -9.8% | 1.23% | −0.10 |
| PYPL PayPal Holdings Inc. | Reduce -6.2% | 0.51% | −0.09 |
| SCHZ Schwab US Aggregate Bond ETF | Reduce -24.9% | 0.28% | −0.08 |
| V Visa Inc. Class A | Reduce -8.9% | 2.25% | −0.07 |
| SYY Sysco Corp. | Reduce -1.9% | 0.67% | −0.07 |
| AMT American Tower Corp. | Reduce -2.2% | 0.42% | −0.04 |
| ITW Illinois Tool Works | Reduce -1.5% | 0.74% | −0.03 |
| DLR Digital Realty Trust Inc. | Reduce -2.0% | 0.28% | −0.03 |
| PSA Public Storage | Reduce -2.1% | 0.21% | −0.02 |
| O Realty Income Corp. | Reduce -2.1% | 0.27% | −0.02 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -3.9% | 2.00% | −0.01 |
| CRM Salesforce Inc. | Reduce -14.3% | 0.55% | −0.01 |
| EQIX Equinix Inc. | Reduce -2.0% | 0.28% | −0.00 |
| SBUX Starbucks Corp. | Reduce -3.0% | 0.73% | −0.00 |
| SPG Simon Property Group Inc. | Reduce -2.0% | 0.31% | −0.00 |
| ABBV Abbvie Inc. | Reduce -1.9% | 1.65% | +0.00 |
| AMZN Amazon.com Inc. | Reduce -7.7% | 3.36% | +0.01 |
| UNP Union Pacific Corp. | Reduce -0.1% | 1.21% | +0.01 |
| BA The Boeing Co. | Reduce -2.6% | 0.98% | +0.01 |
| WAT Waters Corp. | Reduce -21.8% | 0.61% | +0.01 |
| MDT Medtronic PLC | Reduce -2.5% | 0.90% | +0.01 |
| TRV The Travelers Cos Inc. | Reduce -4.4% | 0.62% | +0.02 |
| CME Cme Group Inc. | Reduce -2.1% | 0.89% | +0.02 |
| VRT Vertiv Holdings Co. Class A | Reduce -6.2% | 0.52% | +0.02 |
| FICO Fair Isaac Corp. | Reduce -11.2% | 0.79% | +0.03 |
| WELL Welltower Inc. | Reduce -2.1% | 0.58% | +0.03 |
| GS Goldman Sachs Group Inc. | Reduce -7.8% | 0.81% | +0.04 |
| LLY Eli Lilly & Co. | Reduce -15.5% | 0.22% | +0.04 |
| GLD SPDR Gold Shares | Reduce -10.9% | 1.63% | +0.04 |
| SCHG Schwab US Large-Cap Growth | Reduce -0.6% | 0.96% | +0.05 |
| SCHV Schwab US Large-Cap Value | Reduce -0.1% | 1.33% | +0.06 |
| PLD Prologis Inc. | Reduce -2.2% | 0.57% | +0.06 |
Portfolio Buys Q3 2025 → Q4 2025
| ABNB Airbnb Inc. Class A | New | 0.83% | +0.83 |
| OTIS Otis Worldwide Corp. | New | 0.59% | +0.59 |
| PG The Procter & Gamble Co. | Add +115.2% | 0.68% | +0.35 |
| REZ Ishars Res and Multi Reales | Add +190.7% | 0.38% | +0.25 |
| NEE Nextera Energy Inc. | Add +9.1% | 1.49% | +0.25 |
| SPGI S&P Global Inc. | Add +5.7% | 1.47% | +0.22 |
| CB Chubb Ltd. | Add +1.2% | 1.57% | +0.21 |
| WM Waste Management Inc. | Add +9.1% | 1.36% | +0.15 |
| JPM JPMorgan Chase & Co. | Add +0.4% | 1.96% | +0.11 |
| CPAY Corpay Inc. | Add +10.5% | 0.56% | +0.09 |
| SCHD Schwab US DVD Equity ETF | Add +4.2% | 0.46% | +0.03 |
| HD Home Depot Inc. | Add +17.6% | 0.79% | +0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +4.3% | 0.17% | +0.02 |
| SCHJ Schwab 1-5 YR Corp. BND ETF | Add +0.9% | 0.33% | +0.01 |
| SCHR Schwab Intermediate-Term US | Add +1.7% | 0.24% | +0.01 |
| LIN Linde PLC | Add +5.6% | 1.24% | −0.02 |
| BLK BlackRock Inc. | Add +0.9% | 1.92% | −0.08 |
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 |