L&
Lederer & Associates Investment Counsel/ca Institutional Portfolio & 13F Holdings (Q2 2026)
Lederer & Associates Investment Counsel/caCIK: 0001089707
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$151.9M
Reporting period: 2026-06-30 · Number of holdings: 84
LEDERER & ASSOCIATES INVESTMENT COUNSEL/CA disclosed 84 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $151.9M and a quarterly turnover rate of 18.9%.
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Personality snowflake
- Concentration
- 10.8
- Portfolio Stability
- 18.86
- Momentum
- 100
- Sector conviction
- 56.5
- Diversification
- 100
- Sizing Uniformity
- 88.68
Lederer & Associates Investment Counsel/ca's disclosed holdings carry a Herfindahl concentration index of 0.027 — mathematically equivalent to about 37 equally-sized positions, well below its 84 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.13), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out XOM
New buy 30233Q108
New buy MCD
New buy SCHW
Sold out DAL
Sold out HON
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AAPL | Apple Inc | Stock-Tech | 8.71% | +0.04% | -5.16% | |
| 2 | NVDA | Nvidia CORP | Stock-Tech | 6.11% | +0.37% | -0.17% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 5.59% | -0.33% | +0.84% | |
| 4 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 4.82% | +0.52% | -2.88% | |
| 5 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 3.36% | +0.19% | -0.32% | |
| 6 | AVGO | Broadcom Inc | Stock-Tech | 2.80% | +0.27% | -2.45% | |
| 7 | META | Meta Platforms Inc-class A | Stock-Comm Services | 2.33% | -0.10% | +4.55% | |
| 8 | V | Visa Inc-class A Shares | Stock-Financials | 2.15% | +0.11% | +0.03% | |
| 9 | CSCO | Cisco Systems Inc | Stock-Tech | 2.00% | +0.56% | -1.58% | |
| 10 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.92% | +0.03% | -1.85% | |
| 11 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.90% | -0.05% | +0.52% | |
| 12 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.87% | -0.10% | -1.73% | |
| 13 | ABBV | Abbvie Inc | Stock-Healthcare | 1.75% | +0.08% | -2.06% | |
| 14 | ADP | Automatic Data Processing | Stock-Tech | 1.70% | +0.18% | +8.63% | |
| 15 | GLW | Corning Inc | Stock-Tech | 1.69% | -0.13% | -46.76% | |
| 16 | BLK | Blackrock Inc | Stock-Financials | 1.66% | -0.16% | -1.80% | |
| 17 | CB | Chubb Limited | Stock-Financials | 1.65% | -0.08% | -1.88% | |
| 18 | GLD | Spdr Gold Shares | ETF-Commodities | 1.58% | -0.41% | — | |
| 19 | NEE | Nextera Energy Inc | Stock-Utilities | 1.55% | -0.24% | -1.36% | |
| 20 | LIN | Linde plc | Stock-Materials | 1.46% | -0.07% | -1.49% | |
| 21 | SCHV | Schwab US Large-cap Value | ETF-Other | 1.38% | -0.09% | -11.26% | |
| 22 | ✓ | Stock-Other | 1.34% | +1.34% | NEW | ||
| 23 | WM | Waste Management Inc | Stock-Industrials | 1.33% | -0.17% | -1.33% | |
| 24 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 1.30% | -0.19% | -0.19% | |
| 25 | AMGN | Amgen Inc | Stock-Healthcare | 1.26% | -0.21% | -10.31% | |
| 26 | UNP | Union Pacific CORP | Stock-Industrials | 1.21% | +0.03% | -1.50% | |
| 27 | SCHG | Schwab US Large-cap Growth | ETF-Other | 1.13% | +0.18% | +10.25% | |
| 28 | SYK | Stryker CORP | Stock-Healthcare | 1.12% | -0.03% | +8.92% | |
| 29 | SPGI | S&p Global Inc | Stock-Financials | 1.12% | -0.14% | +0.19% | |
| 30 | MLM | Martin Marietta Materials | Stock-Materials | 1.11% | -0.11% | -0.03% | |
| 31 | CRWD | Crowdstrike Holdings Inc - A | Stock-Tech | 1.09% | +0.33% | -20.73% | |
| 32 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 1.09% | +1.09% | NEW | |
| 33 | SCHW | Schwab (charles) CORP | Stock-Financials | 1.07% | +1.07% | NEW | |
| 34 | SCHP | Schwab U.s. Tips ETF | ETF-Other | 1.00% | -0.08% | — | |
| 35 | UBER | Uber Technologies Inc | Stock-Industrials | 0.94% | +0.06% | +14.75% | |
| 36 | BA | Boeing Co/the | Stock-Industrials | 0.91% | -0.02% | -2.78% | |
| 37 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.88% | -0.06% | -0.22% | |
| 38 | NFLX | Netflix Inc | Stock-Comm Services | 0.88% | -0.40% | -0.16% | |
| 39 | VRT | Vertiv Holdings Co-a | Stock-Industrials | 0.87% | +0.05% | -14.86% | |
| 40 | ABNB | Airbnb Inc-class A | Stock-Consumer Disc | 0.86% | +0.04% | — | |
| 41 | SBUX | Starbucks CORP | Stock-Consumer Disc | 0.85% | +0.02% | -2.54% | |
| 42 | HD | Home Depot Inc | Stock-Consumer Disc | 0.85% | +0.06% | +7.28% | |
| 43 | MRK | Merck & Co. Inc. | Stock-Healthcare | 0.81% | — | +0.88% | |
| 44 | CME | Cme Group Inc | Stock-Financials | 0.79% | -0.21% | +13.07% | |
| 45 | ITW | Illinois Tool Works | Stock-Industrials | 0.77% | -0.05% | -2.25% | |
| 46 | AWK | American Water Works Co Inc | Stock-Utilities | 0.77% | -0.11% | -1.65% | |
| 47 | GS | Goldman Sachs Group Inc | Stock-Financials | 0.76% | +0.08% | +0.62% | |
| 48 | MDT | Medtronic plc | Stock-Healthcare | 0.71% | -0.16% | -1.89% | |
| 49 | SYY | Sysco CORP | Stock-Consumer Staples | 0.70% | +0.04% | -2.13% | |
| 50 | WELL | Welltower Inc | Stock-Real Estate | 0.69% | +0.04% | — |
1–50 of 84
Portfolio Performance
Performance for Q3 2026
+3.9%
Performance Last 4 Quarters
+16.1%
- Stdev
- +11%
- Beta
- +0.81
- Alpha
- +0.1%
- Max Drawdown
- -6.2%
- Annualized Perf
- +16.9%
- Batting Avg vs S&P
- +38.9%
- Sortino
- +2.83
- Stutzer
- +0.43
- Treynor
- +0.2
- Sterling
- +1.12
- Calmar
- +2.71
- Information Ratio
- -0.89
- Tracking Error
- +4.1%
- Stdev Down
- +5.8%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +29.6%
- Worst 12 Months
- +8.7%
- Efficiency Ratio
- +0.59
- Sharpe
- +1.49
- Stdev Sectors
- +9.4%
- Skewness
- -0.18
- Kurtosis
- +0.25
- Upside Potential
- +4.33
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 84 | $151.9M | 19 | ||
| 2026 Q1 | 83 | $141.2M | 16 | ||
| 2025 Q4 | 83 | $149.0M | 13 | ||
| 2025 Q3 | 85 | $154.0M | 27 | ||
| 2025 Q2 | 83 | $151.2M | 0 | ||
| 2025 Q1 | 81 | $136.6M | 100 | ||
| 2024 Q4 | 85 | $143.2M | 0 | ||
| 2024 Q3 | 84 | $142.1M | 0 | ||
| 2024 Q2 | 84 | $138.2M | 0 | ||
| 2024 Q1 | 89 | $143.9M | 0 | ||
| 2023 Q4 | 87 | $135.1M | 0 | ||
| 2023 Q3 | 86 | $125.8M | 0 | ||
| 2023 Q2 | 85 | $132.5M | 0 | ||
| 2023 Q1 | 88 | $129.6M | 0 | ||
| 2022 Q4 | 87 | $122.3M | 0 | ||
| 2022 Q3 | 87 | $118.4M | 0 | ||
| 2022 Q2 | 88 | $129.8M | 0 | ||
| 2022 Q1 | 90 | $163.3M | 0 | ||
| 2021 Q4 | 88 | $172.5M | 0 | ||
| 2021 Q3 | 86 | $154.9M | 0 | ||
| 2021 Q2 | 85 | $150.2M | 97 | ||
| 2021 Q1 | 154 | $141.9M | 15 | ||
| 2020 Q4 | 87 | $130.3M | 11 | ||
| 2020 Q3 | 85 | $120.1M | 18 | ||
| 2020 Q2 | 78 | $107.0M | 39 | ||
| 2020 Q1 | 79 | $88.4M | 51 | ||
| 2019 Q4 | 88 | $115.1M | 18 | ||
| 2019 Q3 | 89 | $104.6M | 18 | ||
| 2019 Q2 | 88 | $108.9M | 16 | ||
| 2019 Q1 | 88 | $107.4M | 19 | ||
| 2018 Q4 | 85 | $93.5M | 33 | ||
| 2018 Q3 | 93 | $118.3M | 10 | ||
| 2018 Q2 | 93 | $110.8M | 11 | ||
| 2018 Q1 | 91 | $110.9M | 18 | ||
| 2017 Q4 | 87 | $111.6M | 13 | ||
| 2017 Q3 | 85 | $104.8M | 15 | ||
| 2017 Q2 | 85 | $103.8M | 17 | ||
| 2017 Q1 | 86 | $106.5M | 12 | ||
| 2016 Q4 | 83 | $100.8M | 58 | ||
| 2015 Q3 | 72 | $89.9M | 23 | ||
| 2015 Q2 | 71 | $97.4M | 18 | ||
| 2015 Q1 | 76 | $102.5M | 18 | ||
| 2014 Q4 | 74 | $100.8M | 0 |
Holding changes this quarter
Lederer & Associates Investment Counsel/ca's most significant position changes for 2026-06-30: Sold out: Exxon Mobil CORP (XOM); New buy: ; New buy: Mcdonald's CORP (MCD); New buy: Schwab (charles) CORP (SCHW); Sold out: Delta Air Lines Inc (DAL).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ✓ | +1.3% | NEW | New buy | |
| 2 | MCD | Mcdonald's CORP | +1.1% | NEW | New buy |
| 3 | SCHW | Schwab (charles) CORP | +1.1% | NEW | New buy |
| 4 | CSCO | Cisco Systems Inc | +0.6% | -1.58% | Trim |
| 5 | GOOGL | Alphabet Inc-cl A | +0.5% | -2.88% | Trim |
| 6 | GLDM | Spdr Gold Minishares Trust | +0.5% | NEW | New buy |
| 7 | NVDA | Nvidia CORP | +0.4% | -0.17% | Trim |
| 8 | CRWD | Crowdstrike Holdings Inc - A | +0.3% | -20.73% | Trim |
| 9 | ✓ | +0.3% | NEW | New buy | |
| 10 | ✓ | +0.3% | NEW | New buy | |
| 11 | AVGO | Broadcom Inc | +0.3% | -2.45% | Trim |
| 12 | IBM | Intl Business Machines CORP | +0.2% | +34.47% | Add |
| 13 | AMZN | Amazon.com Inc | +0.2% | -0.32% | Trim |
| 14 | ADP | Automatic Data Processing | +0.2% | +8.63% | Add |
| 15 | SCHG | Schwab US Large-cap Growth | +0.2% | +10.25% | Add |
| 16 | V | Visa Inc-class A Shares | +0.1% | +0.03% | Add |
| 17 | SCHD | Schwab US Dvd Equity ETF | +0.1% | +23.08% | Add |
| 18 | WAT | Waters CORP | +0.1% | — | Unchanged |
| 19 | ABBV | Abbvie Inc | +0.1% | -2.06% | Trim |
| 20 | GS | Goldman Sachs Group Inc | +0.1% | +0.62% | Add |
| 21 | UBER | Uber Technologies Inc | +0.1% | +14.75% | Add |
| 22 | HD | Home Depot Inc | +0.1% | +7.28% | Add |
| 23 | VRT | Vertiv Holdings Co-a | +0.1% | -14.86% | Trim |
| 24 | AAPL | Apple Inc | 0% | -5.16% | Trim |
| 25 | ABNB | Airbnb Inc-class A | 0% | — | Unchanged |
| 26 | SYY | Sysco CORP | 0% | -2.13% | Trim |
| 27 | WELL | Welltower Inc | 0% | — | Unchanged |
| 28 | CPAY | Corpay Inc | 0% | — | Unchanged |
| 29 | BAC | Bank Of America CORP | 0% | — | Unchanged |
| 30 | SPG | Simon Property Group Inc | 0% | — | Unchanged |
| 31 | LLY | Eli Lilly & Co | 0% | — | Unchanged |
| 32 | JPM | Jpmorgan Chase & Co | 0% | -1.85% | Trim |
| 33 | UNP | Union Pacific CORP | 0% | -1.50% | Trim |
| 34 | PEP | Pepsico Inc | 0% | +28.43% | Add |
| 35 | GOOG | Alphabet Inc-cl C | 0% | -8.80% | Trim |
| 36 | SCHB | Schwab US Broad Market ETF | 0% | — | Unchanged |
| 37 | SBUX | Starbucks CORP | 0% | -2.54% | Trim |
| 38 | FICO | Fair Isaac CORP | 0% | — | Unchanged |
| 39 | REZ | Ishars Res And Multi Reales | 0% | — | Unchanged |
| 40 | PSA | Public Storage | 0% | — | Unchanged |
| 41 | SPY | Ss Spdr S&p 500 ETF Trust-us | 0% | — | Unchanged |
| 42 | MRK | Merck & Co. Inc. | — | +0.88% | Add |
| 43 | TRV | Travelers Cos Inc/the | — | -4.88% | Trim |
| 44 | EQIX | Equinix Inc | — | — | Unchanged |
| 45 | SCHH | Schwab US Reit ETF | — | -2.67% | Trim |
| 46 | KO | Coca-cola Co/the | 0% | — | Unchanged |
| 47 | O | Realty Income CORP | 0% | — | Unchanged |
| 48 | PICB | Invesco International Corpor | 0% | — | Unchanged |
| 49 | BA | Boeing Co/the | 0% | -2.78% | Trim |
| 50 | SCHZ | Schwab US Aggregate Bond ETF | 0% | -2.12% | Trim |
1–50 of 89
Filing History
FAQ
What is Lederer & Associates Investment Counsel/ca and what type of investor is it?
Lederer & Associates Investment Counsel/ca is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $151.9M, spread across 84 disclosed positions.
What are Lederer & Associates Investment Counsel/ca's largest equity positions?
Based on the latest 13F filing, Lederer & Associates Investment Counsel/ca's top holdings by market value are:
1. Apple Inc (AAPL) — $13.2M (8.7%)
2. Nvidia CORP (NVDA) — $9.3M (6.1%)
3. Microsoft CORP (MSFT) — $8.5M (5.6%)
4. Alphabet Inc-cl A (GOOGL) — $7.3M (4.8%)
5. Amazon.com Inc (AMZN) — $5.1M (3.4%)
What changes did Lederer & Associates Investment Counsel/ca make in its most recent portfolio filing?
In the latest reported quarter, Lederer & Associates Investment Counsel/ca made 64 notable position adjustments: 6 new positions were initiated, 17 existing holdings were added to, 36 positions were partially reduced, and 5 were completely exited. The largest of these moves: Sold out: Exxon Mobil CORP (XOM); New buy: ; New buy: Mcdonald's CORP (MCD); New buy: Schwab (charles) CORP (SCHW); Sold out: Delta Air Lines Inc (DAL)
What sectors does Lederer & Associates Investment Counsel/ca focus on?
Lederer & Associates Investment Counsel/ca is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 36.2%
• Financials: 14.6%
• Communication Services: 10.2%
• Health Care: 9.5%
• Consumer Discretionary: 8.0%
• Industrials: 6.9%
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Investment Profile
Lederer & Associates Investment Counsel/ca returned an annualized 16.9% over the trailing 36 months — outperforming the S&P 500 by 0.1 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.81 (less volatile than the market) and a 39% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 36.2% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 19 over the past 4 quarters — a shift toward more active trading.
It has added to its CSCO position over the past two quarters (+$1.2M, now $3.0M), while trimming SPGI over the same stretch (-$488.0K, still holding $1.7M).
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