Dearborn Partners L.L.C.
SEC-registered
Investment Adviser · Mid-sized ($1B–$10B)
CRD 108147
· SEC file 801-54279
· Chicago, IL
· WWW.DEARBORNPARTNERS.COM
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ADV data as of Mar 23, 2026
- Regulatory AUM
- $2.7B
- Discretionary
- $2.7B
- Clients
- 285
- Avg AUM / client
- $9.6M
- Accounts
- 2,124
- Employees
- 24
AUM over time
$1.5B
$4.0B
Dec 2011
Dec 2025
Annual snapshots from Form ADV filings · as of Mar 23, 2026
Investments (13F portfolio — 269 positions, $1,847,289,142)
13F period Mar 31, 2026| # | Issuer | Class | Value | Shares | % of 13F | % of AUM |
|---|---|---|---|---|---|---|
| 1 | Apple Inc. | COM | $107,106,820 | 422,029 | 5.8% | 3.91% |
| 2 | Microsoft Corp | COM | $70,503,066 | 190,461 | 3.82% | 2.57% |
| 3 | Casey's General Stores Inc | COM | $56,597,378 | 77,759 | 3.06% | 2.06% |
| 4 | Mc Donalds Corp | COM | $48,164,721 | 154,975 | 2.61% | 1.76% |
| 5 | Exxon Mobil Corp | COM | $45,729,258 | 269,535 | 2.48% | 1.67% |
| 6 | Wec Energy Group Inc | COM | $36,402,495 | 314,438 | 1.97% | 1.33% |
| 7 | Automatic Data Processing | COM | $35,687,963 | 175,647 | 1.93% | 1.3% |
| 8 | Amphenol Corp Cl A | COM | $35,022,482 | 277,186 | 1.9% | 1.28% |
| 9 | Atmos Energy Corporation | COM | $34,777,049 | 188,269 | 1.88% | 1.27% |
| 10 | Corteva Inc | COM | $34,649,159 | 413,919 | 1.88% | 1.26% |
| 11 | Republic Services Inc | COM | $34,208,860 | 156,191 | 1.85% | 1.25% |
| 12 | Snap On | COM | $34,066,026 | 93,789 | 1.84% | 1.24% |
| 13 | Verizon Communications | COM | $33,609,781 | 669,518 | 1.82% | 1.23% |
| 14 | Watsco, Inc. | COM | $32,592,033 | 89,590 | 1.76% | 1.19% |
| 15 | Mastercard Inc | COM | $32,276,097 | 64,596 | 1.75% | 1.18% |
| 16 | Wal Mart Stores | COM | $32,099,121 | 258,281 | 1.74% | 1.17% |
| 17 | Costco Wholesale Corp | COM | $31,949,184 | 32,064 | 1.73% | 1.17% |
| 18 | Illinois Tool Works Inc | COM | $29,923,136 | 114,961 | 1.62% | 1.09% |
| 19 | Cme Group Inc | COM | $29,665,082 | 100,440 | 1.61% | 1.08% |
| 20 | Texas Instruments Incorporated | COM | $29,020,980 | 149,485 | 1.57% | 1.06% |
| 21 | Sherwin Williams Co | COM | $28,013,180 | 87,391 | 1.52% | 1.02% |
| 22 | Abb Vie Inc | COM | $27,926,127 | 128,402 | 1.51% | 1.02% |
| 23 | Procter & Gamble Co | COM | $27,840,112 | 192,745 | 1.51% | 1.02% |
| 24 | Qualcomm Inc. | COM | $27,260,612 | 211,684 | 1.48% | 0.99% |
| 25 | Arthur J. Gallagher & Co | COM | $27,258,408 | 125,858 | 1.48% | 0.99% |
Top 25 of 269 positions from the manager's latest Form 13F · source filing (EDGAR) ↗. 13F covers long US-listed positions only. "% of AUM" is share of the firm's total regulatory AUM (Form ADV Item 5.F).
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | 108 | $49.0M | 1.79% |
| High net worth individuals | 142 | $1.0B | 37.0% |
| Investment companies | 1 | $570M | 20.8% |
| Pension and profit sharing plans | 18 | $506M | 18.4% |
| Charitable organizations | 2 | $16.5M | 0.6% |
| Other investment advisers | 14 | $585M | 21.4% |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Chicago & Vicinity Laborers' District Council Pension Plan Bd Of Trustees, Chicago & Vicinity Laborers' Distr. Council Pens Fund | 2024 | |
| Painters And Allied Trades Dc82 Defined Contribution Pension Plan Trustees Of Painters And Allied Trades Dc82 Defined Contribution Pensi | 2024 | |
| Bricklayers Union Local No 1 Of Missouri Pension P Bricklayers Union Local No 1 Of Missouri Pension Plan | 2024 | |
| District Council 82 Painting Industry Pension Plan Trustees Of District Council 82 Painting Industry Pension Plan | 2024 | |
| International Association Pension Plan Board Of Trustees, International Association Pension Plan | 2024 | |
| Midwest Pension Plan Board Of Trustees Midwest Pension Plan | Hillside, IL | 2024 |
| Twin City Carpenters And Joiners Pension Fund Board Of Trustees Of The Twin City Carpenters And Joiners Pension Fund | 2024 | |
| Cooley Llp Salary Deferral And Profit Sharing Plan Cooley Llp | 2024 |
People (13)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Mckinnon, Donald, Gordon | Chief Compliance Officer | Apr 2015 (11y) | Less than 5% | |
| Andelman, Michael, B | Member | Jan 2016 (11y) | 25% – 50% | |
| Lippman, Carol, Milius | Member | Jan 2017 (10y) | 10% – 25% | |
| John Vincent Celentani | Member | CFP | Jun 2018 (8y) | 5% – 10% |
| Peter J Deakos | Member | CFA | Sep 2018 (8y) | 5% – 10% |
| Payne, Brian, Ashton | Member | Mar 2022 (4y) | 5% – 10% | |
| Samira Laskic | Registered representative | Jan 2017 (10y) | ||
| Matthew Thomas Guttosch | Registered representative | CFA | Jun 2019 (7y) | |
| Bradley Clifton Smith | Registered representative | Jul 2019 (7y) | ||
| James Douglas Lathrop | Registered representative | Mar 2020 (6y) | ||
| Roger Diaz | Registered representative | Jul 2020 (6y) | ||
| Jonathan D Woo | Registered representative | Mar 2023 (3y) | ||
| Edward James Trapp | Registered representative | CFP | Apr 2024 (2y) |
Undisclosed: 0% – 50% of the firm is not attributable from the filed Schedule A bands.
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Retirement plans served (8)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Chicago & Vicinity Laborers' District Council Pension Plan | Bd Of Trustees, Chicago & Vicinity Laborers' Distr. Council Pens Fund | 11,313 | $5.2B | 06/01/2024 |
| Painters And Allied Trades Dc82 Defined Contribution Pension Plan | Trustees Of Painters And Allied Trades Dc82 Defined Contribution Pensi | 3,034 | $272M | 06/01/2024 |
| Bricklayers Union Local No 1 Of Missouri Pension P | Bricklayers Union Local No 1 Of Missouri Pension Plan | 545 | $130M | 01/01/2024 |
| District Council 82 Painting Industry Pension Plan | Trustees Of District Council 82 Painting Industry Pension Plan | 920 | $319M | 01/01/2024 |
| International Association Pension Plan | Board Of Trustees, International Association Pension Plan | 745 | $401M | 01/01/2024 |
| Midwest Pension Plan | Board Of Trustees Midwest Pension Plan | 2,093 | $123M | 01/01/2024 |
| Twin City Carpenters And Joiners Pension Fund | Board Of Trustees Of The Twin City Carpenters And Joiners Pension Fund | 5,909 | $2.0B | 01/01/2024 |
| Cooley Llp Salary Deferral And Profit Sharing Plan | Cooley Llp | 2,641 | $1.3B | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/23/2026 | 1020 KB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
Services
- • Financial planning services
- • Portfolio management for individuals/small businesses
- • Portfolio management for investment companies
- • Portfolio management for businesses/institutional clients
- • Selection of other advisers
- • Other services
Custody
Reported custodians
- Charles Schwab & Co. $746M (27% of AUM) Mar 2026
- Stifel, Nicolaus & Company, Incorporated $579M (15% of AUM) Mar 2024
- J.P. Morgan $353M (13% of AUM) Mar 2026
- Benjamin F. Edwards & Company, Inc. $347M (9% of AUM) Mar 2024
- BNY Mellon $302M (9% of AUM) Sep 2021
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports it does not have custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 23, 2026.
View current Form ADV (SEC/IAPD) ↗