SEC 13F Intelligence

Managers / Q4 2023 · view latest →

LEDERER & ASSOCIATES INVESTMENT COUNSEL/CA

CIK 0001089707 · 5305 EAST 2ND STREET, STE 201, LONG BEACH, CA, 90803 · 5624345305

Reported Value
$135M
Q4 2023
Positions
87
Filings on Record
32
2019–present window
Filed
Jan 19, 2024
original filing

Summary

Lederer & Associates Investment Counsel/Ca reported $135M in U.S.-listed holdings across 87 positions for Q4 2023.

Its largest position, AAPL, represents 8.7% of the portfolio.

Compared with Q3 2023, the fund opened 2 new positions and exited 1.

Portfolio Metrics

Turnover
+3.3%
vs prior filed quarter
Top-10 Concentration
+35.9%
share of reported value
Largest Position
+8.7%
Apple
New / Exited
2 / 1
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $94MQ4 ’18Q1 ’19: $107MQ2 ’19: $109MQ3 ’19: $105MQ4 ’19: $115MQ4 ’19Q1 ’20: $88MQ2 ’20: $107MQ4 ’20: $130MQ1 ’21: $142MQ1 ’21Q2 ’21: $150MQ3 ’21: $155MQ4 ’21: $172MQ1 ’22: $163MQ1 ’22Q2 ’22: $130MQ3 ’22: $118MQ4 ’22: $122MQ1 ’23: $130MQ1 ’23Q2 ’23: $133MQ3 ’23: $126MQ4 ’23: $135MQ1 ’24: $144MQ1 ’24Q2 ’24: $138MQ3 ’24: $142MQ4 ’24: $143MQ1 ’25: $137MQ1 ’25Q2 ’25: $151MQ3 ’25: $154MQ4 ’25: $149MQ1 ’26: $141MQ1 ’26Q2 ’26: $152Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 86.5%ETP: 8.9%REIT: 3.3%ADR: 1.2%
  • Common Stock · 86.5% · $117M
  • ETP · 8.9% · $12M
  • REIT · 3.3% · $4M
  • ADR · 1.2% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
HSYThe Hershey CoNEW+7.5K7.5K+$1M$1M
VTIVanguard Total Stock Market ETFNEW+2.8K2.8K+$664,000$664,000
LMTLockheed Martin CorpSOLD OUT−6960−$285,000$0
CVXChevron CorpADDED+4.5K9.5K+$576,000$1M
EXMOCExxon Mobil CorpTRIMMED−6.3K8.2K−$888,000$825,000
SCHPSchwab US TIPS ETFTRIMMED−20.1K32.7K−$957,000$2M
BMYBristol-Myers Squibb CompanyTRIMMED−12.6K21.3K−$874,000$1M
KVUEKenvueTRIMMED−22.2K43.6K−$383,000$938,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2023

87 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLApple Inchistory →COM8.68%$12M60.9K
2MSFTMicrosoft Corphistory →COM7.76%$10M27.9K
3GOOGLAlphabet Inc Ahistory →COM3.17%$4M30.7K
4NVDANVIDIA Corphistory →COM2.93%$4M8.0K
5AMZNAmazon.com Inchistory →COM2.63%$4M23.4K
6VVisa Inc Class Ahistory →COM2.43%$3M12.6K
7ADPAutomatic Data Processing Inchistory →COM2.22%$3M12.9K
8JPMJPMorgan Chase & Cohistory →COM2.09%$3M16.6K
9METAMeta Platformshistory →COM1.98%$3M7.5K
10BRK/BBerkshire Hathaway Inc Bhistory →COM1.96%$3M7.4K
11BlackRock IncCOM1.95%$3M3.2K
12AMGNAmgen Inchistory →COM1.95%$3M9.1K
13JNJJohnson & Johnsonhistory →COM1.84%$2M15.8K
14MCDMcDonald s Corphistory →COM1.78%$2M8.1K
15ADBEAdobe Systems Inchistory →COM1.69%$2M3.8K
16SYKStryker Corphistory →COM1.63%$2M7.4K
17CBChubb Ltdhistory →COM1.61%$2M9.6K
18SPGIS&P Global Inchistory →COM1.56%$2M4.8K
19ELVElevance Healthhistory →COM1.50%$2M4.3K
20WMWaste Management Inchistory →COM1.45%$2M11.0K
21UNPUnion Pacific Corphistory →COM1.42%$2M7.8K
22AVGOBroadcom Inc Comhistory →COM1.41%$2M1.7K
23MLMMartin Marietta Materials Inchistory →COM1.39%$2M3.8K
24NEENextEra Energy Inchistory →COM1.37%$2M30.4K
25AWKAmerican Water Works Co Inchistory →COM1.32%$2M13.5K
26COSTCostco Wholesale Corphistory →COM1.27%$2M2.6K
27SCHPSchwab US TIPS ETFhistory →COM1.27%$2M32.7K
28LVMUYLouis Vuitton Moet Hennessyhistory →COM1.22%$2M10.2K
29CSCOCisco Systems Inchistory →COM1.13%$2M30.2K
30SBUXStarbucks Corphistory →COM1.09%$1M15.4K
31SYYSysco Corphistory →COM1.05%$1M19.5K
32SCHVSchwab US Large-Cap Value ETFhistory →COM1.05%$1M20.2K
33CVXChevron Corphistory →COM1.04%$1M9.5K
34HSYThe Hershey Cohistory →COM1.03%$1M7.5K
35NFLXNetflix Inchistory →COM1.02%$1M2.8K
36MDTMedtronic PLCCOM0.98%$1M16.1K
37GLDSPDR Gold SharesCOM0.96%$1M6.8K
38PEPPepsiCo IncCOM0.96%$1M7.7K
39GOOGAlphabet Inc CCOM0.90%$1M8.7K
40KOCoca-Cola CoCOM0.90%$1M20.6K
41FISVFiserv IncCOM0.87%$1M8.9K
42UNHUnitedHealth Group IncCOM0.86%$1M2.2K
43BMYBristol-Myers Squibb CompanyCOM0.81%$1M21.3K
44WATWaters CorpCOM0.81%$1M3.3K
45MRKMerck & Co IncCOM0.80%$1M9.9K
46MDLZMondelez International Inc Class ACOM0.79%$1M14.8K
47HDThe Home Depot IncCOM0.79%$1M3.1K
48Fleetcor Technologies IncCOM0.79%$1M3.8K
49SCHHSchwab US REIT ETFCOM0.78%$1M51.1K
50NKENike Inc BCOM0.73%$988,0009.1K
51CTSHCognizant Technology SolutionsCOM0.71%$961,00012.7K
52CMCSAComcast Corp Class ACOM0.71%$956,00021.8K
53KVUEKenvueCOM0.69%$938,00043.6K
54GSGoldman Sachs Group IncCOM0.68%$923,0002.4K
55KMBKimberly-Clark CorpCOM0.68%$920,0007.6K
56PYPLPayPal Holdings IncCOM0.67%$908,00014.8K
57AMTAmerican Tower CorpCOM0.66%$891,0004.1K
58PLDPrologis IncCOM0.65%$882,0006.6K
59TRVThe Travelers Companies IncCOM0.65%$874,0004.6K
60LYVLive Nation Entertainment IncCOM0.62%$839,0009.0K
61EXMOCExxon Mobil CorpCOM0.61%$825,0008.2K
62HONHoneywell International IncCOM0.57%$773,0003.7K
63PGProcter & Gamble CoCOM0.50%$670,0004.6K
64BACBank of America CorporationCOM0.49%$666,00019.8K
65VTIVanguard Total Stock Market ETFCOM0.49%$664,0002.8K
66EQIXEquinix IncCOM0.48%$653,000811
67SCHGSchwab US Large-Cap Growth ETFCOM0.48%$650,0007.8K
68SCHZSchwab US Aggregate Bond ETFCOM0.48%$648,00013.9K
69SCHDSchwab US Dividend Equity ETFCOM0.48%$646,0008.5K
70SCHJSchwab 1 5 Year Corp Bond ETFCOM0.45%$605,00012.5K
71SPYSPDR S&P 500 ETFCOM0.39%$532,0001.1K
72MSGSMadison Square Garden SportsCOM0.36%$481,0002.6K
73SCHRSchwab Int-Term US Treasury ETFCOM0.33%$441,0008.9K
74IJHiShares Core S&P Mid-CapCOM0.32%$430,0001.6K
75SPGSimon Property Group IncCOM0.31%$419,0002.9K
76PSAPublic StorageCOM0.31%$418,0001.4K
77SCHOSchwab Short-Term US Treasury ETFCOM0.31%$415,0008.6K
78CCICrown Castle International CorpCOM0.30%$401,0003.5K
79SCHBSchwab US Broad Market ETFCOM0.27%$371,0006.7K
80DLRDigital Realty Trust IncCOM0.25%$341,0002.5K
81SCHMSchwab US Mid-Cap ETFCOM0.24%$320,0004.3K
82AWRAmerican States Water CoCOM0.22%$302,0003.8K
83IJRiShares Core S&P Small-CapCOM0.22%$301,0002.8K
84VUGVanguard Growth ETFCOM0.22%$298,000960
85EFAiShares MSCI EAFECOM0.21%$280,0003.7K
86AVBAvalonBay Communities IncCOM0.17%$233,0001.2K
87SBACSBA Communications CorpCOM0.17%$223,000878

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q2 2026$152M84Jul 10, 202613F-HRchanges · EDGAR ↗
Q1 2026$141M83Apr 24, 202613F-HRchanges · EDGAR ↗
Q4 2025$149M83Jan 26, 202613F-HRchanges · EDGAR ↗
Q3 2025$154M85Oct 24, 202513F-HRchanges · EDGAR ↗
Q2 2025$151M83Jul 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$137M81Apr 2, 202513F-HRchanges · EDGAR ↗
Q4 2024$143M85Jan 24, 202513F-HRchanges · EDGAR ↗
Q3 2024$142M84Oct 24, 202413F-HRchanges · EDGAR ↗
Q2 2024$138M84Aug 2, 202413F-HRchanges · EDGAR ↗
Q1 2024$144M89Apr 29, 202413F-HRchanges · EDGAR ↗
Q4 2023$135M87Jan 19, 202413F-HRchanges · EDGAR ↗
Q3 2023$126M86Oct 23, 202313F-HRchanges · EDGAR ↗
Q2 2023$133M85Aug 7, 202313F-HRchanges · EDGAR ↗
Q1 2023$130M88Apr 17, 202313F-HRchanges · EDGAR ↗
Q4 2022$122M87Jan 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$118M87Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$130M88Aug 9, 202213F-HRchanges · EDGAR ↗
Q1 2022$163M90May 24, 202213F-HRchanges · EDGAR ↗
Q4 2021$172M88Jan 24, 202213F-HRchanges · EDGAR ↗
Q3 2021$155M86Oct 22, 202113F-HRchanges · EDGAR ↗
Q2 2021$150M85Jul 23, 202113F-HRchanges · EDGAR ↗
Q1 2021$142M154Apr 19, 202113F-HRchanges · EDGAR ↗
Q4 2020$130M87Jan 25, 2021RESTATEMENTchanges · EDGAR ↗
Q2 2020$107M78Jul 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$88M79Apr 20, 202013F-HRchanges · EDGAR ↗
Q4 2019$115M88Feb 7, 202013F-HRchanges · EDGAR ↗
Q3 2019$105M89Oct 7, 201913F-HRchanges · EDGAR ↗
Q2 2019$109M88Jul 19, 201913F-HRchanges · EDGAR ↗
Q1 2019$107M88Apr 12, 201913F-HRchanges · EDGAR ↗
Q4 2018$94M85Jan 25, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.