SEC 13F Intelligence

Managers / Q4 2025 · view latest →

LEDERER & ASSOCIATES INVESTMENT COUNSEL/CA

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

Reported Value
$149M
Q4 2025
Positions
83
Filings on Record
32
2019–present window
Filed
Jan 26, 2026
original filing

Summary

Lederer & Associates Investment Counsel/Ca reported $149M in U.S.-listed holdings across 83 positions for Q4 2025.

Its largest position, AAPL, represents 8.8% of the portfolio.

Compared with Q3 2025, the fund opened 2 new positions and exited 4.

Portfolio Metrics

Turnover
+4.7%
vs prior filed quarter
Top-10 Concentration
+41.4%
share of reported value
Largest Position
+8.8%
Apple
New / Exited
2 / 4
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: 89.7%ETP: 7.4%REIT: 2.9%
  • Common Stock · 89.7% · $134M
  • ETP · 7.4% · $11M
  • REIT · 2.9% · $4M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ABNBAirbnb IncNEW+9.2K9.2K+$1M$1M
OTISOtis Worldwide CorpNEW+10.1K10.1K+$880,000$880,000
NFLXNetflix IncADDED+15.3K17.1K−$536,000$2M
REZiShares Residential Real Estate Capd ETFADDED+4.5K6.9K+$369,000$571,000
PGProcter & Gamble CoADDED+3.8K7.1K+$508,000$1M
BMYBristol-Myers Squibb CompanySOLD OUT−19.8K0−$892,000$0
KMBKimberly-Clark CorpSOLD OUT−7.0K0−$876,000$0
CCICrown Castle International CorpSOLD OUT−3.4K0−$332,000$0

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

Holdings — Q4 2025

83 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLApple Inchistory →COM8.84%$13M48.5K
2MSFTMicrosoft Corphistory →COM7.32%$11M22.5K
3NVDANVIDIA Corphistory →COM5.85%$9M46.7K
4GOOGLAlphabet Inc Ahistory →COM4.47%$7M21.3K
5AMZNAmazon.com Inchistory →COM3.36%$5M21.7K
6AVGOBroadcom Inc Comhistory →COM2.67%$4M11.5K
7METAMeta Platformshistory →COM2.67%$4M6.0K
8VVisa Inc Class Ahistory →COM2.25%$3M9.6K
9BRK/BBerkshire Hathaway Inc Bhistory →COM2.00%$3M5.9K
10JPMJPMorgan Chase & Cohistory →COM1.96%$3M9.0K
11BLKBlackRock Inchistory →COM1.92%$3M2.7K
12JNJJohnson & Johnsonhistory →COM1.84%$3M13.3K
13ADPAutomatic Data Processing Inchistory →COM1.80%$3M10.4K
14ABBVAbbVie Inchistory →COM1.65%$2M10.8K
15GLDSPDR Gold Shareshistory →COM1.63%$2M6.1K
16CBChubb Ltdhistory →COM1.57%$2M7.5K
17NEENextEra Energy Inchistory →COM1.49%$2M27.6K
18SPGIS&P Global Inchistory →COM1.47%$2M4.2K
19AMGNAmgen Inchistory →COM1.46%$2M6.6K
20WMWaste Management Inchistory →COM1.36%$2M9.2K
21SCHVSchwab US Large-Cap Value ETFhistory →COM1.33%$2M66.7K
22LINLinde plchistory →COM1.24%$2M4.3K
23MLMMartin Marietta Materials Inchistory →COM1.23%$2M3.0K
24EXMOCExxon Mobil Corphistory →COM1.23%$2M15.3K
25COSTCostco Wholesale Corphistory →COM1.23%$2M2.1K
26CSCOCisco Systems Inchistory →COM1.21%$2M23.4K
27UNPUnion Pacific Corphistory →COM1.21%$2M7.8K
28SYKStryker Corphistory →COM1.17%$2M5.0K
29GLWCorning Inchistory →COM1.10%$2M18.7K
30NFLXNetflix Inchistory →COM1.08%$2M17.1K
31DALDelta Air Lines Inchistory →COM1.06%$2M22.7K
32SCHPSchwab US TIPS ETFhistory →COM1.02%$2M57.1K
33BABoeing CoCOM0.98%$1M6.7K
34SCHGSchwab US Large-Cap Growth ETFCOM0.96%$1M43.7K
35UBERUber Technologies IncCOM0.94%$1M17.2K
36MDTMedtronic PLCCOM0.90%$1M14.0K
37CMECME Group Inc Class ACOM0.89%$1M4.9K
38BXBlackstone IncCOM0.84%$1M8.1K
39ABNBAirbnb IncCOM0.84%$1M9.2K
40GSGoldman Sachs Group IncCOM0.81%$1M1.4K
41AWKAmerican Water Works Co IncCOM0.79%$1M9.1K
42HDThe Home Depot IncCOM0.79%$1M3.4K
43FICOFair Isaac CorpCOM0.79%$1M692
44FLUTFlutter Entertainment PLCCOM0.77%$1M5.3K
45CRWDCrowdStrike Holdings IncCOM0.74%$1M2.4K
46ITWIllinois Tool Works IncCOM0.74%$1M4.5K
47SBUXStarbucks CorpCOM0.73%$1M13.0K
48MRKMerck & Co IncCOM0.68%$1M9.7K
49PGProcter & Gamble CoCOM0.68%$1M7.1K
50SYYSysco CorpCOM0.67%$997,00013.5K
51GOOGAlphabet Inc CCOM0.63%$937,0003.0K
52TRVThe Travelers Companies IncCOM0.62%$931,0003.2K
53WATWaters CorpCOM0.61%$902,0002.4K
54PEPPepsiCo IncCOM0.60%$897,0006.2K
55OTISOtis Worldwide CorpCOM0.59%$880,00010.1K
56WELLWelltower Inc ComCOM0.58%$863,0004.6K
57PLDPrologis IncCOM0.57%$851,0006.7K
58CPAYCorpay IncCOM0.56%$832,0002.8K
59CRMSalesforce IncCOM0.55%$825,0003.1K
60CTSHCognizant Technology SolutionsCOM0.53%$787,0009.5K
61VRTVertiv Holdings CoCOM0.52%$774,0004.8K
62HONHoneywell International IncCOM0.51%$765,0003.9K
63PYPLPayPal Holdings IncCOM0.51%$760,00013.0K
64KOCoca-Cola CoCOM0.48%$721,00010.3K
65SCHDSchwab US Dividend Equity ETFCOM0.46%$683,00024.9K
66BACBank of America CorporationCOM0.44%$660,00012.0K
67FISVFiserv IncCOM0.43%$635,0009.5K
68CVXChevron CorpCOM0.42%$633,0004.2K
69AMTAmerican Tower CorpCOM0.42%$627,0003.6K
70REZiShares Residential Real Estate Capd ETFCOM0.38%$571,0006.9K
71SCHBSchwab US Broad Market ETFCOM0.36%$537,00020.5K
72SCHJSchwab 1 5 Year Corp Bond ETFCOM0.33%$494,00019.8K
73SPGSimon Property Group IncCOM0.31%$460,0002.5K
74EQIXEquinix IncCOM0.28%$421,000549
75DLRDigital Realty Trust IncCOM0.28%$415,0002.7K
76SCHZSchwab US Aggregate Bond ETFCOM0.28%$414,00017.7K
77ORealty Income CorpCOM0.27%$395,0007.0K
78SCHHSchwab US REIT ETFCOM0.25%$376,00018.0K
79SCHRSchwab Int-Term US Treasury ETFCOM0.24%$361,00014.4K
80LLYEli Lilly and CoCOM0.22%$328,000305
81PSAPublic StorageCOM0.21%$320,0001.2K
82SPYSPDR S&P 500 ETFCOM0.17%$246,000361
83MSMorgan StanleyCOM0.15%$226,0001.3K

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 ↗.