LEDERER & ASSOCIATES INVESTMENT COUNSEL/CA

CIK 1089707 · View on SEC EDGAR ↗

Portfolio value
$141K
#9,381 of 9,443 by 13F value · top 99.3%
Positions
83
As of
March 31, 2026 Data as of Q1 2026

Portfolio value QoQ: -5.2% 13F does not disclose cash

Top 10 holdings weight
38.75%
Top 25 holdings weight
63.65%
Positions above 1%
33
Effective number of positions
37.6

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q1 2026: 2.1% Est. buys $3,052 · sells $5,486

Median holding: 6.0 quarters Tracked Q4 2024–Q1 2026 · 77.6% still held

New positions
5
Increased
25
Decreased
30
Closed
5
On this page

Sector breakdown

Technology
25.0%
Industrials
12.9%
Communication Services
8.9%
Healthcare
8.6%
Financial Services
8.0%
Retail
6.1%
Financials
4.7%
Real Estate
3.3%
Utilities
2.7%
Energy
2.4%
Consumer Discretionary
1.6%
Materials
1.5%
Communications
1.4%
Consumer Staples
1.2%
Consumer products
0.9%
Other/Unmapped
10.6%

Full portfolio 83 positions

Type Streak 8Q trend
AAPL Apple Inc. - Common Stock $12,238 8.67% 48,222 $-934 Down ×4
MSFT Microsoft Corporation - Common Stock $8,355 5.92% 22,570 $-2,550 Up ×1
NVDA NVIDIA Corporation - Common Stock $8,098 5.74% 46,436 $-614 Down ×4
GOOGL Alphabet Inc. - Class A Common Stock $6,071 4.30% 21,113 $-586 Down ×4
AMZN Amazon.com, Inc. - Common Stock $4,471 3.17% 21,465 $-538 Down ×2
AVGO Broadcom Inc. - Common Stock $3,574 2.53% 11,547 $-406 Up ×1
META Meta Platforms, Inc. - Class A Common Stock $3,434 2.43% 6,003 $-540 Down ×4
V Visa Inc. $2,879 2.04% 9,524 $-474 Down ×4
GLD $2,807 1.99% 6,523 $374 Up ×1
JNJ Johnson & Johnson Common Stock $2,777 1.97% 11,359 $34 Down ×4
BRKB $2,748 1.95% 5,735 $-230 Down ×5
JPM JP Morgan Chase & Co. Common Stock $2,667 1.89% 9,067 $-247 Up ×2
BLK BlackRock, Inc. Common Stock $2,571 1.82% 2,673 $-290
GLW Corning Incorporated Common Stock $2,569 1.82% 18,893 $928 Up ×1
XOM Exxon Mobil Corporation Common Stock $2,566 1.82% 15,124 $729 Down ×2
NEE NextEra Energy, Inc. Common Stock $2,533 1.79% 27,277 $313 Down ×1
CB Chubb Limited Common Stock $2,447 1.73% 7,508 $103 Down ×1
ABBV AbbVie Inc. Common Stock $2,351 1.67% 10,808 $-106 Up ×1
LIN Linde plc - Ordinary Shares $2,157 1.53% 4,350 $310 Up ×3
ADP Automatic Data Processing, Inc. - Common Stock $2,151 1.52% 10,587 $-525 Up ×1
WM Waste Management, Inc. Common Stock $2,115 1.50% 9,206 $95 Up ×3
COST Costco Wholesale Corporation - Common Stock $2,102 1.49% 2,110 $273 Down ×2
AMGN Amgen Inc. - Common Stock $2,076 1.47% 5,899 $-97 Down ×5
SCHV $2,071 1.47% 67,888 $96 Up ×1
CSCO Cisco Systems, Inc. - Common Stock $2,036 1.44% 26,240 $230 Up ×1
NFLX Netflix, Inc. - Common Stock $1,807 1.28% 18,795 $203 Up ×2
SPGI S&P Global Inc. Common Stock $1,772 1.26% 4,165 $-415 Down ×1
MLM Martin Marietta Materials, Inc. Common Stock $1,725 1.22% 2,931 $-114 Down ×4
UNP Union Pacific Corporation Common Stock $1,666 1.18% 6,866 $-136 Down ×3
SYK Stryker Corporation Common Stock $1,628 1.15% 4,956 $-117 Down ×4
SCHP $1,520 1.08% 57,130 $7
DAL Delta Air Lines, Inc. Common Stock $1,508 1.07% 22,678 $-66
CME CME Group Inc. - Class A Common Stock $1,417 1.00% 4,797 $92 Down ×2
SCHG $1,339 0.95% 45,968 $-87 Up ×1
PG Procter & Gamble Company (The) Common Stock $1,323 0.94% 9,162 $310 Up ×2
BA Boeing Company (The) Common Stock $1,312 0.93% 6,591 $-150 Down ×3
UBER Uber Technologies, Inc. Common Stock $1,237 0.88% 17,194 $-169 Down ×3
AWK American Water Works Company, Inc. Common Stock $1,236 0.88% 9,085 $52 Up ×1
MDT Medtronic plc. Ordinary Shares $1,222 0.87% 14,099 $-126 Up ×1
SBUX Starbucks Corporation - Common Stock $1,165 0.83% 13,002 $73 Up ×1
ITW Illinois Tool Works Inc. Common Stock $1,159 0.82% 4,452 $59 Down ×2
VRT Vertiv Holdings, LLC Class A Common Stock $1,159 0.82% 4,624 $385 Down ×2
ABNB Airbnb, Inc. - Class A Common Stock $1,157 0.82% 9,166 $-87
MRK Merck & Company, Inc. Common Stock (new) $1,145 0.81% 9,519 $128 Down ×3
HD Home Depot, Inc. (The) Common Stock $1,121 0.79% 3,408 $-62 Down ×1
CRWD CrowdStrike Holdings, Inc. - Class A Common Stock $1,072 0.76% 2,745 $-30 Up ×1
GS Goldman Sachs Group, Inc. (The) Common Stock $954 0.68% 1,128 $-249 Down ×2
BX Blackstone Inc. Common Stock $935 0.66% 8,135 $-319
SYY Sysco Corporation Common Stock $930 0.66% 13,044 $-67 Down ×3
WELL Welltower Inc. Common Stock $919 0.65% 4,649 $56
PLD Prologis, Inc. Common Stock $881 0.62% 6,665 $30
CVX Chevron Corporation Common Stock $880 0.62% 4,255 $247 Up ×1
PEP PepsiCo, Inc. - Common Stock $880 0.62% 5,670 $-17 Down ×1
HON Honeywell International Inc. - Common Stock $874 0.62% 3,868 $109 Down ×1
TRV The Travelers Companies, Inc. Common Stock $873 0.62% 2,992 $-58 Down ×2
GOOG Alphabet Inc. - Class C Capital Stock $838 0.59% 2,922 $-99 Down ×5
CPAY Corpay, Inc. Common Stock $805 0.57% 2,765 $-27
KO Coca-Cola Company (The) Common Stock $785 0.56% 10,317 $64
OTIS Otis Worldwide Corporation Common Stock $784 0.56% 10,167 $-96 Up ×1
SCHD $764 0.54% 24,911 $81
FICO Fair Isaac Corporation Common Stock $739 0.52% 692 $-431
WAT Waters Corporation Common Stock $707 0.50% 2,375 $-195
AMT American Tower Corporation (REIT) Common Stock $617 0.44% 3,574 $-10
IBM International Business Machines Corporation Common Stock $614 0.43% 2,533 Up ×1
BAC Bank of America Corporation Common Stock $585 0.41% 12,000 $-75
CTSH Cognizant Technology Solutions Corporation - Class A Common Stock $582 0.41% 9,483 $-205
REZ $575 0.41% 6,905 $4
EQIX Equinix, Inc. - Common Stock $538 0.38% 549 $117
SCHB $514 0.36% 20,474 $-23
SCHJ $494 0.35% 19,971 $0 Up ×2
DLR Digital Realty Trust, Inc. Common Stock $484 0.34% 2,685 $69
SPG Simon Property Group, Inc. Common Stock $464 0.33% 2,487 $4
O Realty Income Corporation Common Stock $429 0.30% 7,013 $34
SCHZ $415 0.29% 17,884 $1 Up ×1
SATS EchoStar Corporation - Common stock $411 0.29% 3,510 Up ×1
SCHH $395 0.28% 18,373 $19 Up ×1
SCHR $362 0.26% 14,528 $1 Up ×2
PSA Public Storage Common Stock $334 0.24% 1,234 $14
SPY SPY $282 0.20% 434 $36 Up ×2
LLY Eli Lilly and Company Common Stock $281 0.20% 305 $-47
BNDX Vanguard Total International Bond ETF $248 0.18% 5,165 Up ×1
PICB $239 0.17% 10,330 Up ×1
GDX GDX $221 0.16% 2,405 Up ×1

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security Value % of portfolio Streak
LIN $2,157 1.53% up ×3
WM $2,115 1.50% up ×3

Biggest new bets

New positions opened this quarter, largest first.

Security Value Shares % of portfolio
IBM $614 2,533 0.43%
SATS $411 3,510 0.29%
BNDX $248 5,165 0.18%
PICB $239 10,330 0.17%
GDX $221 2,405 0.16%

Top movers (QoQ)

Security Action Shares Δ Value Δ
MSFT Bought more +22 -$3K
AAPL Trimmed -228 -$934
GLW Bought more +152 +$928
XOM Trimmed -137 +$729
NVDA Trimmed -278 -$614
GOOGL Trimmed -154 -$586
META Trimmed -18 -$540
AMZN Trimmed -236 -$538
ADP Bought more +184 -$525
V Trimmed -37 -$474

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarter Shares before Value before Price since exit
BLKXXXX March 31, 2025 2,826 $2,897 No longer tracked
HSY March 31, 2025 10,844 $1,836 9.9%
ADBE March 31, 2025 4,042 $1,797 -28.8%
ELV March 31, 2025 3,917 $1,445 -8.1%
FLUT March 31, 2026 5,339 $1,148 -2.1%
LVMUY March 31, 2025 8,081 $1,056 No longer tracked
MCD March 31, 2025 3,556 $1,031 -14.0%
UNH June 30, 2025 1,857 $973 24.2%
BMY Dec. 31, 2025 19,787 $892 22.5%
KMB Dec. 31, 2025 7,044 $876 7.5%
CRM March 31, 2026 3,113 $825 10.1%
MDLZ March 31, 2025 12,956 $774 -5.5%
PYPL March 31, 2026 13,015 $760 37.6%
FISV March 31, 2026 9,453 $635 -7.6%
GPC March 31, 2025 4,738 $553 12.5%
SCHM Sept. 30, 2025 12,874 $361 No longer tracked
CCI Dec. 31, 2025 3,445 $332 -14.5%
SCHO Dec. 31, 2025 12,910 $315 No longer tracked
AWR June 30, 2025 3,750 $295 16.5%
AVB June 30, 2025 1,209 $259 No longer tracked
MS March 31, 2026 1,275 $226 28.6%
SBAC June 30, 2025 946 $208 -22.2%
LMT March 31, 2025 365 $177 27.3%
OPEN June 30, 2025 10,000 $10 552.0%