SEC 13F Intelligence

Managers / Q2 2025 · view latest →

LEDERER & ASSOCIATES INVESTMENT COUNSEL/CA

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

Reported Value
$151M
Q2 2025
Positions
83
Filings on Record
32
2019–present window
Filed
Jul 14, 2025
original filing

Summary

Lederer & Associates Investment Counsel/Ca reported $151M in U.S.-listed holdings across 83 positions for Q2 2025.

Its largest position, MSFT, represents 8.1% of the portfolio.

Compared with Q1 2025, the fund opened 7 new positions and exited 5.

Portfolio Metrics

Turnover
+5.2%
vs prior filed quarter
Top-10 Concentration
+40.5%
share of reported value
Largest Position
+8.1%
Microsoft
New / Exited
7 / 5
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: 89.5%ETP: 7.3%REIT: 3.2%
  • Common Stock · 89.5% · $135M
  • ETP · 7.3% · $11M
  • REIT · 3.2% · $5M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
LINLinde plcNEW+3.6K3.6K+$2M$2M
GLWCorning IncNEW+24.3K24.3K+$1M$1M
SBUXStarbucks CorpNEW+13.0K13.0K+$1M$1M
ITWIllinois Tool Works IncNEW+4.4K4.4K+$1M$1M
CRMSalesforce IncNEW+3.6K3.6K+$991,000$991,000
WELLWelltower Inc ComNEW+4.7K4.7K+$722,000$722,000
ORealty Income CorpNEW+7.1K7.1K+$408,000$408,000
UNHUnitedHealth Group IncSOLD OUT−1.9K0−$973,000$0

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

Holdings — Q2 2025

83 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMicrosoft Corphistory →COM8.09%$12M24.6K
2AAPLApple Inchistory →COM7.54%$11M55.5K
3NVDANVIDIA Corphistory →COM5.70%$9M54.6K
4AMZNAmazon.com Inchistory →COM3.41%$5M23.5K
5METAMeta Platformshistory →COM3.37%$5M6.9K
6GOOGLAlphabet Inc Ahistory →COM2.93%$4M25.1K
7VVisa Inc Class Ahistory →COM2.67%$4M11.4K
8ADPAutomatic Data Processing Inchistory →COM2.33%$4M11.4K
9AVGOBroadcom Inc Comhistory →COM2.27%$3M12.4K
10BRK/BBerkshire Hathaway Inc Bhistory →COM2.22%$3M6.9K
11BLKBlackRock Inchistory →COM1.88%$3M2.7K
12JPMJPMorgan Chase & Cohistory →COM1.78%$3M9.3K
13NFLXNetflix Inchistory →COM1.68%$3M1.9K
14SYKStryker Corphistory →COM1.62%$2M6.2K
15SPGIS&P Global Inchistory →COM1.49%$2M4.3K
16CBChubb Ltdhistory →COM1.45%$2M7.5K
17LLYEli Lilly and Cohistory →COM1.42%$2M2.8K
18COSTCostco Wholesale Corphistory →COM1.42%$2M2.2K
19JNJJohnson & Johnsonhistory →COM1.38%$2M13.7K
20GLDSPDR Gold Shareshistory →COM1.37%$2M6.8K
21ABBVAbbVie Inchistory →COM1.35%$2M11.0K
22MLMMartin Marietta Materials Inchistory →COM1.28%$2M3.5K
23AMGNAmgen Inchistory →COM1.27%$2M6.9K
24UNPUnion Pacific Corphistory →COM1.22%$2M8.0K
25WMWaste Management Inchistory →COM1.20%$2M7.9K
26NEENextEra Energy Inchistory →COM1.18%$2M25.7K
27UBERUber Technologies Inchistory →COM1.17%$2M19.0K
28FLUTFlutter Entertainment PLChistory →COM1.16%$2M6.1K
29SCHVSchwab US Large-Cap Value ETFhistory →COM1.14%$2M62.1K
30LINLinde plchistory →COM1.13%$2M3.6K
31FISVFiserv Inchistory →COM1.08%$2M9.5K
32CSCOCisco Systems Inchistory →COM1.08%$2M23.4K
33SCHPSchwab US TIPS ETFhistory →COM1.05%$2M59.2K
34BABoeing Cohistory →COM1.01%$2M7.3K
35BXBlackstone IncCOM0.99%$2M10.0K
36CRWDCrowdStrike Holdings IncCOM0.99%$1M2.9K
37AWKAmerican Water Works Co IncCOM0.95%$1M10.4K
38DALDelta Air Lines IncCOM0.87%$1M26.8K
39GLWCorning IncCOM0.85%$1M24.3K
40MDTMedtronic PLCCOM0.85%$1M14.7K
41SBUXStarbucks CorpCOM0.79%$1M13.0K
42CVXChevron CorpCOM0.78%$1M8.2K
43CMECME Group Inc Class ACOM0.77%$1M4.2K
44WATWaters CorpCOM0.74%$1M3.2K
45PYPLPayPal Holdings IncCOM0.73%$1M14.9K
46EXMOCExxon Mobil CorpCOM0.73%$1M10.2K
47SYYSysco CorpCOM0.73%$1M14.5K
48SCHHSchwab US REIT ETFCOM0.72%$1M51.8K
49ITWIllinois Tool Works IncCOM0.72%$1M4.4K
50HDThe Home Depot IncCOM0.71%$1M2.9K
51GSGoldman Sachs Group IncCOM0.69%$1M1.5K
52BMYBristol-Myers Squibb CompanyCOM0.66%$1M21.6K
53CRMSalesforce IncCOM0.66%$991,0003.6K
54KMBKimberly-Clark CorpCOM0.63%$947,0007.3K
55BACBank of America CorporationCOM0.63%$946,00020.0K
56PEPPepsiCo IncCOM0.62%$934,0007.1K
57HONHoneywell International IncCOM0.60%$913,0003.9K
58CTSHCognizant Technology SolutionsCOM0.60%$905,00011.6K
59CPAYCorpay IncCOM0.60%$900,0002.7K
60TRVThe Travelers Companies IncCOM0.59%$898,0003.4K
61AMTAmerican Tower CorpCOM0.56%$843,0003.8K
62MRKMerck & Co IncCOM0.55%$825,00010.4K
63PLDPrologis IncCOM0.49%$745,0007.1K
64KOCoca-Cola CoCOM0.48%$730,00010.3K
65WELLWelltower Inc ComCOM0.48%$722,0004.7K
66SCHGSchwab US Large-Cap Growth ETFCOM0.47%$716,00024.5K
67GOOGAlphabet Inc CCOM0.45%$676,0003.8K
68SCHDSchwab US Dividend Equity ETFCOM0.44%$667,00025.2K
69SCHZSchwab US Aggregate Bond ETFCOM0.43%$649,00027.9K
70VRTVertiv Holdings CoCOM0.41%$618,0004.8K
71SCHJSchwab 1 5 Year Corp Bond ETFCOM0.40%$606,00024.4K
72SCHBSchwab US Broad Market ETFCOM0.36%$546,00022.9K
73PGProcter & Gamble CoCOM0.35%$523,0003.3K
74DLRDigital Realty Trust IncCOM0.31%$472,0002.7K
75SCHRSchwab Int-Term US Treasury ETFCOM0.30%$461,00018.4K
76EQIXEquinix IncCOM0.29%$445,000560
77SCHOSchwab Short-Term US Treasury ETFCOM0.29%$434,00017.8K
78ORealty Income CorpCOM0.27%$408,0007.1K
79SPGSimon Property Group IncCOM0.27%$406,0002.5K
80PSAPublic StorageCOM0.25%$385,0001.3K
81CCICrown Castle International CorpCOM0.24%$369,0003.6K
82SCHMSchwab US Mid-Cap ETFCOM0.24%$361,00012.9K
83REZiShares Residential Real Estate Capd ETFCOM0.13%$196,0002.4K

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 ↗.