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DEARBORN PARTNERS LLC — 13F Holdings & Portfolio

CIK 1206792 · latest 13F-HR filed 2026-08-13

Backtest portfolio

DEARBORN PARTNERS LLC manages $1.85B in 13F-reported U.S. long-equity assets across 287 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are AAPL (5.80%), MSFT (3.82%), CASY (3.06%).

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$1.85B

Long-equity book

Holdings
287

Distinct positions

Period
2026-06-30

Filed 2026-08-13

Q/Q Activity
+0 / −0 / ↑0 / ↓0

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
AAPL6.5% · -6%MSFT4.3% · +6%APH2.5% · -10%CASY2.3% · -35%TXN2.2% · -11%ADP2.2% · +0%QCOM2.0% · -9%MCD2.0% · -17%WSO2.0% · -7%WEC1.9% · -10%XOM1.9% · -11%ATO1.8% · 0%NVDA1.8% · +248%CTVA1.8% · -10%MA1.7% · -8%CAT1.7% · -0%RSG1.7% · -10%ITW1.6% · -7%ABBV1.6% · -11%SHW1.6% · -8%JPM1.5% · -0%AJG1.5% · -8%PG1.5% · -8%VRSK1.4% · +24%VZ1.4% · -10%SNA1.4% · -34%COST1.3% · -23%WMT1.3% · -22%HD1.3% · -9%MSI1.2% · -11%SYK1.2% · -12%NDAQ1.2% · -9%CME1.2% · -8%JNJ1.1% · 0%STE1.1% · -11%NEE1.1% · 0%ECL1.1% · -11%EQIX1.1% · -12%SPGI1.0% · -11%AVGO1.0% · +292%CTAS1.0% · -12%GOOGL1.0% · +2%MKC.V0.9% · -10%TRI0.9% · -13%FAST0.9% · -13%TMUS0.9% · -14%GD0.9% · -0%AWK0.8% · -15%MDLZ0.8% · +2%EOG0.7% · -15%IBM0.7% · -4%ARES0.6% · +0%JKHY0.6% · -14%LNT0.6% · newRPM0.6% · 0%UNP0.6% · -1%INTU0.5% · -12%BR0.5% · -15%RS0.5% · -0%TJX0.5% · new

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

5 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 27.8%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Mar 23, 2026.

Assets Under Management
$2.74B
Discretionary
$2.74B
Employees
24
Accounts
2,124
Address
200 W MADISON ST
SUITE 1950
CHICAGO, IL 60606
Phone
(312) 795-1000
Website
Name Title / Status Ownership Type
ANDELMAN, MICHAEL, B ControlMEMBER
since Jan 2016
25–50%Individual
CELENTANI, JOHN, VINCENTMEMBER
since Mar 2022
5–10%Individual
DEAKOS, PETER, JMEMBER
since Mar 2022
5–10%Individual
LIPPMAN, CAROL, MILIUSMEMBER
since Jan 2017
10–25%Individual
MCKINNON, DONALD, GORDONCHIEF COMPLIANCE OFFICER
since Apr 2015
Less than 5%Individual
PAYNE, BRIAN, ASHTONMEMBER
since Mar 2022
10–25%Individual
Ownership & leadership changes · 16 filings with changes since Dec 6, 2011

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Mar 23, 2026 filing
  • ChangedPAYNE, BRIAN, ASHTON · ownership 5–10% → 10–25%
Mar 19, 2024 filing
  • No longer listedSEITZ, RICHARD, ROBERT · MEMBER · 10–25% · listed since Jan 2017
Mar 24, 2022 filing
  • AddedCELENTANI, JOHN, VINCENT · MEMBER · 5–10%
  • AddedDEAKOS, PETER, J · MEMBER · 5–10%
  • AddedPAYNE, BRIAN, ASHTON · MEMBER · 5–10%
  • ChangedLIPPMAN, CAROL, MILIUS · ownership 25–50% → 10–25%; no longer a control person
  • ChangedSEITZ, RICHARD, ROBERT · ownership 25–50% → 10–25%; no longer a control person
Dec 21, 2020 filing
  • ChangedANDELMAN, MICHAEL, B · now a control person
Oct 14, 2020 filing
  • No longer listedPEDERSEN, CALVIN, JON · MEMBER - CLASS B · 75% or more · control person · listed since Mar 2000
  • ChangedANDELMAN, MICHAEL, B · title MEMBER - CLASS A → MEMBER
  • ChangedLIPPMAN, CAROL, MILIUS · title MEMBER - CLASS A → MEMBER
  • ChangedSEITZ, RICHARD, ROBERT · title MEMBER - CLASS A → MEMBER
Mar 29, 2018 filing
  • No longer listedHickey, Denise, Coakley · TRUSTEE · 75% or more · indirect via JEH TRUST · control person · listed since Apr 2016
  • No longer listedJAMESON, GEORGE, PAUL · MEMBER - CLASS A · 10–25% · control person · listed since Apr 1997
  • No longer listedJEH TRUST · MEMBER - CLASS A · 10–25% · control person · listed since Apr 2016
  • No longer listedSTEVENS, WAYNE, COPELAND · MEMBER - CLASS A · 10–25% · control person · listed since Apr 1997
  • ChangedANDELMAN, MICHAEL, B · ownership 10–25% → 25–50%
  • ChangedLIPPMAN, CAROL, MILIUS · ownership 10–25% → 25–50%
  • ChangedSEITZ, RICHARD, ROBERT · ownership 5–10% → 25–50%
Jan 9, 2017 filing
  • AddedLIPPMAN, CAROL, MILIUS · MEMBER - CLASS A · 10–25% · control person
  • AddedSEITZ, RICHARD, ROBERT · MEMBER - CLASS A · 5–10% · control person
  • ChangedJAMESON, GEORGE, PAUL · ownership 25–50% → 10–25%
  • ChangedSTEVENS, WAYNE, COPELAND · ownership 25–50% → 10–25%
Sep 12, 2016 filing
  • No longer listedCARR, ROBERT, FRANKLIN · MEMBER - CLASS B · 10–25% · listed since Apr 2016
  • No longer listedWYATT, ADAM, MICHAEL · MEMBER - CLASS B · 10–25% · listed since Apr 2016
  • ChangedPEDERSEN, CALVIN, JON · ownership 50–75% → 75% or more
Jul 27, 2016 filing
  • No longer listedHARPER, BLAKE, ELLIOTT · TRUSTEE · 75% or more · indirect via ROBERT H. HARPER TRUST 6/9/1995 · control person · listed since Jul 2014
  • No longer listedROBERT H. HARPER TRUST 6/9/1995 · MEMBER - CLASS C · 75% or more · control person · listed since Jul 2014
May 26, 2016 filing
  • ChangedJEH TRUST · ownership 25–50% → 10–25%
Older changes (7 more filings)
May 23, 2016 filing
  • No longer listedHICKEY, JEROME, EDWARD · MEMBER - CLASS A · 25–50% · control person · listed since Apr 1997
  • AddedANDELMAN, MICHAEL, B · MEMBER - CLASS A · 10–25%
  • AddedCARR, ROBERT, FRANKLIN · MEMBER - CLASS B · 10–25%
  • AddedHickey, Denise, Coakley · TRUSTEE · 75% or more · indirect via JEH TRUST · control person
  • AddedJEH TRUST · MEMBER - CLASS A · 25–50% · control person
  • AddedWYATT, ADAM, MICHAEL · MEMBER - CLASS B · 10–25%
  • ChangedPEDERSEN, CALVIN, JON · ownership 75% or more → 50–75%
May 19, 2015 filing
  • No longer listedLEWIS, KRISTIE, LEE · CHIEF COMPLIANCE OFFICER · Less than 5% · listed since Apr 2013
  • AddedMCKINNON, DONALD, GORDON · CHIEF COMPLIANCE OFFICER · Less than 5%
Mar 30, 2015 filing
  • No longer listedHARPER, ROBERT, HENRY · MEMBER - CLASS C · 50–75% · control person · listed since Sep 2010
  • No longer listedSILVERMAN, KEVIN, EUGENE · MEMBER - CLASS C · 25–50% · control person · listed since Sep 2010
  • AddedHARPER, BLAKE, ELLIOTT · TRUSTEE · 75% or more · indirect via ROBERT H. HARPER TRUST 6/9/1995 · control person
  • AddedROBERT H. HARPER TRUST 6/9/1995 · MEMBER - CLASS C · 75% or more · control person
Mar 28, 2014 filing
  • No longer listedSIMMONS, JEFFREY, EARL · MEMBER · 10–25% · control person · listed since Mar 2000
  • AddedHARPER, ROBERT, HENRY · MEMBER - CLASS C · 50–75% · control person
  • AddedSILVERMAN, KEVIN, EUGENE · MEMBER - CLASS C · 25–50% · control person
  • ChangedHICKEY, JEROME, EDWARD · title MEMBER → MEMBER - CLASS A; ownership 10–25% → 25–50%
  • ChangedJAMESON, GEORGE, PAUL · title MEMBER → MEMBER - CLASS A; ownership 10–25% → 25–50%
  • ChangedPEDERSEN, CALVIN, JON · title MEMBER → MEMBER - CLASS B; ownership 10–25% → 75% or more
  • ChangedSTEVENS, WAYNE, COPELAND · title MEMBER → MEMBER - CLASS A; ownership 10–25% → 25–50%
May 6, 2013 filing
  • No longer listedWHITE, FREDERICK, LAZARUS · CHIEF COMPLIANCE OFFICER, CHIEF LEGAL OFFICER · Less than 5% · listed since Jul 2011
  • AddedLEWIS, KRISTIE, LEE · CHIEF COMPLIANCE OFFICER · Less than 5%
Mar 22, 2012 filing
  • ChangedWHITE, FREDERICK, LAZARUS · title CHIEF COMPLIANCE OFFICER → CHIEF COMPLIANCE OFFICER, CHIEF LEGAL OFFICER
Dec 6, 2011 filing (earliest on record)
  • ListedHICKEY, JEROME, EDWARD · MEMBER · 10–25% · control person
  • ListedJAMESON, GEORGE, PAUL · MEMBER · 10–25% · control person
  • ListedPEDERSEN, CALVIN, JON · MEMBER · 10–25% · control person
  • ListedSIMMONS, JEFFREY, EARL · MEMBER · 10–25% · control person
  • ListedSTEVENS, WAYNE, COPELAND · MEMBER · 10–25% · control person
  • ListedWHITE, FREDERICK, LAZARUS · CHIEF COMPLIANCE OFFICER · Less than 5%

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

  • No increased positions.
Show all 0 →

Top Trims

  • No decreased positions.
Show all 0 →

New Positions

  • No new positions this quarter.
Show all 0 →

Exited Positions

  • No exits this quarter.
Show all 0 →

DEARBORN PARTNERS LLC Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 Apple Inc. AAPL 037833100 $107.1M 5.80% 422,029 SH
2 Microsoft Corp MSFT 594918104 $70.5M 3.82% 190,461 SH
3 Casey's General Stores Inc CASY 147528103 $56.6M 3.06% 77,759 SH
4 McDonalds Corp MCD 580135101 $48.2M 2.61% 154,975 SH
5 Exxon Mobil Corp XOM 30231G102 $45.7M 2.48% 269,535 SH
6 WEC Energy Group Inc WEC 92939U106 $36.4M 1.97% 314,438 SH
7 Automatic Data Processing ADP 053015103 $35.7M 1.93% 175,647 SH
8 Amphenol Corp Cl A APH 032095101 $35.0M 1.90% 277,186 SH
9 Atmos Energy Corporation ATO 049560105 $34.8M 1.88% 188,269 SH
10 Corteva Inc CTVA 22052L104 $34.6M 1.88% 413,919 SH
11 Republic Services Inc RSG 760759100 $34.2M 1.85% 156,093 SH
12 Snap-On SNA 833034101 $34.1M 1.84% 93,789 SH
13 Verizon Communications VZ 92343V104 $33.6M 1.82% 669,518 SH
14 Watsco, Inc. WSO 942622200 $32.6M 1.76% 89,590 SH
15 Mastercard Inc MA 57636Q104 $32.3M 1.75% 64,596 SH
16 Wal-Mart Stores WMT 931142103 $32.1M 1.74% 258,281 SH
17 Costco Wholesale Corp COST 22160K105 $31.9M 1.73% 32,064 SH
18 Illinois Tool Works Inc ITW 452308109 $29.9M 1.62% 114,961 SH
19 CME Group Inc CME 12572Q105 $29.7M 1.61% 100,440 SH
20 Texas Instruments Incorporated TXN 882508104 $29.0M 1.57% 149,485 SH
21 Sherwin-Williams Co SHW 824348106 $28.0M 1.52% 87,391 SH
22 AbbVie Inc ABBV 00287Y109 $27.9M 1.51% 128,402 SH
23 Procter & Gamble Co PG 742718109 $27.8M 1.51% 192,745 SH
24 Qualcomm Inc. QCOM 747525103 $27.3M 1.48% 211,684 SH
25 Arthur J. Gallagher & Co AJG 363576109 $27.3M 1.48% 125,858 SH
26 Accenture PLC Cl A ACN G1151C101 $25.1M 1.36% 126,620 SH
27 Motorola Solutions, Inc. MSI 620076307 $25.0M 1.35% 57,593 SH
28 J P Morgan Chase & Co JPM 46625H100 $24.5M 1.32% 83,156 SH
29 Stryker Corp SYK 863667101 $24.3M 1.31% 73,889 SH
30 Nasdaq, Inc. NDAQ 631103108 $24.1M 1.31% 284,092 SH
31 Steris plc STE G8473T100 $23.4M 1.27% 105,783 SH
32 Tractor Supply Company TSCO 892356106 $23.2M 1.25% 511,499 SH
33 Home Depot Inc HD 437076102 $22.9M 1.24% 69,668 SH
34 T-Mobile US Inc. TMUS 872590104 $22.8M 1.24% 108,648 SH
35 Abbott Labs ABT 002824100 $22.3M 1.21% 217,223 SH
36 Verisk Analytics Inc VRSK 92345Y106 $21.8M 1.18% 115,066 SH
37 S&P Global, Inc. SPGI 78409V104 $21.7M 1.17% 51,021 SH
38 Ecolab Inc ECL 278865100 $21.1M 1.14% 79,207 SH
39 NextEra Energy Inc NEE 65339F101 $21.0M 1.14% 226,440 SH
40 Cintas Corp CTAS 172908105 $20.8M 1.13% 123,111 SH
41 Thomson Reuters TRI 884903709 $20.3M 1.10% 226,158 SH
42 Caterpillar Inc CAT 149123101 $20.3M 1.10% 28,643 SH
43 Equinix Inc EQIX 29444U700 $20.0M 1.08% 20,392 SH
44 Johnson & Johnson JNJ 478160104 $19.5M 1.05% 79,689 SH
45 McCormick & Company Inc MKC.V 579780107 $18.3M 0.99% 362,547 SH
46 Intuit INTU 461202103 $18.0M 0.98% 41,692 SH
47 Fastenal Company FAST 311900104 $17.5M 0.95% 377,076 SH
48 American Water Works Co AWK 030420103 $17.2M 0.93% 126,235 SH
49 EOG Resources Inc EOG 26875P101 $16.5M 0.89% 114,192 SH
50 General Dynamics Corp GD 369550108 $15.2M 0.83% 44,418 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-17 $1.77B 303 0001104659-26-097372
2026-06-30 2026-08-13 $1.85B 287 0001104659-26-096039
2026-03-31 2026-05-12 $1.85B 287 0001104659-26-059082
2025-12-31 2026-02-11 $2.00B 285 0001104659-26-013113
2025-09-30 2025-11-10 $2.13B 273 0001104659-25-108947
2024-03-31 2024-05-08 $2.33B 278 0001104659-24-058610
Filer Information
Address
200 W MADISON
SUITE 1950
CHICAGO, IL 60606
Phone
(312) 795-1000
Filing Manager
DEARBORN PARTNERS LLC
CHICAGO, IL
Signatory
Don McKinnon
Chief Compliance Officer