Managers / Q4 2023 · view latest →

Hanson & Doremus Investment Management

CIK 0001393944 · 431 PINE STREET, SUITE 302, PO BOX 819, BURLINGTON, VT, 05402-0819 · 802-658-2668

Reported Value

$530M

Q4 2023

Positions

472

Filings on Record

2019–present window

Filed

Jan 25, 2024

original filing

Summary

Hanson & Doremus Investment Management reported $530M in U.S.-listed holdings across 472 positions for Q4 2023.

Its largest position, SCHB, represents 20.0% of the portfolio.

Compared with Q3 2023, the fund opened 61 new positions and exited 9.

Portfolio Metrics

Turnover

+3.0%

vs prior filed quarter

Top-10 Concentration

+53.1%

share of reported value

Largest Position

+20.0%

Schwab U S Broad Market Etf

New / Exited

61 / 9

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

Portfolio Composition

By security type

ETP · 57.1% · $302M
Common Stock · 38.9% · $206M
ADR · 3.0% · $16M
REIT · 0.7% · $4M
Other · 0.3% · $2M
Other · 0.0% · $254,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

Issuer	Move	Share Δ	Shares now	Value Δ	Value now
NATL NCR Atleos Corp	NEW	+6.2K	6.2K	+$152,000	$152,000
AVGO Broadcom Ltd	NEW	+120	120	+$134,000	$134,000
ELEEF Element Fleet Management Corp	NEW	+3.9K	3.9K	+$63,000	$63,000
AES A E S Corp	NEW	+1.6K	1.6K	+$32,000	$32,000
Kennedy-Wilson Holdings Inc	NEW	+2.5K	2.5K	+$31,000	$31,000
JEF Jefferies Finl Group Inc	NEW	+675	675	+$27,000	$27,000
JCI Johnson Controls Inc.	NEW	+450	450	+$26,000	$26,000
SIEGY Siemens A G	NEW	+250	250	+$23,000	$23,000

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

Holdings — Q4 2023

471 positions

Export to Excel

#	Issuer	Class	% Portfolio	Value ↓	Shares
1	SCHB Schwab U.S. Broad Market ETF history →	ETF	19.95%	$106M	1.90M
2	VGIT Vanguard Intermediate Treasury ETF history →	ETF	6.46%	$34M	577.4K
3	VEA Vanguard Developed Market ETF history →	ETF	6.15%	$33M	679.9K
4	VCIT Vanguard Intermediate Corporate ETF history →	ETF	5.23%	$28M	341.0K
5	VWO Vanguard Emerging Market ETF history →	ETF	3.35%	$18M	432.1K
6	ESGV Vanguard ESG US Stock ETF history →	ETF	3.01%	$16M	187.2K
7	MSFT Microsoft history →	COMMON	2.88%	$15M	40.6K
8	SCHF Schwab Int'l Equity ETF history →	ETF	2.32%	$12M	332.5K
9	VSGX Vanguard ESG International Stock ETF history →	ETF	2.02%	$11M	193.6K
10	TSM Taiwan Semiconductor ADR history →	ADR	1.68%	$9M	85.8K
11	GOOGL Alphabet, Inc. Cl A	COMMON	1.63%	$9M	61.5K
12	SCHW The Charles Schwab Corp.history →	COMMON	1.60%	$8M	123.0K
13	COST Costco history →	COMMON	1.32%	$7M	10.6K
14	AAPL Apple Inc.history →	COMMON	1.14%	$6M	31.3K
15	VCEB Vanguard ESG US Corporate Bond ETF history →	ETF	1.11%	$6M	92.9K
16	MRK Merck history →	COMMON	1.10%	$6M	53.4K
17	V Visa Inc	COMMON	0.93%	$5M	18.8K
18	BA Boeing Co.	COMMON	0.92%	$5M	18.8K
19	IWD iShares Russell 1000 Val ETF	ETF	0.84%	$4M	27.1K
20	AMZN Amazon.Com	COMMON	0.83%	$4M	29.0K
21	GLW Corning	COMMON	0.82%	$4M	142.0K
22	STX Seagate Technology PLC	COMMON	0.80%	$4M	49.9K
23	IBM IBM Corp.	COMMON	0.74%	$4M	23.9K
24	TRMK Trustmark Corp.	COMMON	0.74%	$4M	139.8K
25	VTEB Vanguard Muni Bond ETF	ETF	0.72%	$4M	74.6K
26	DIS Walt Disney Hldg	COMMON	0.71%	$4M	41.5K
27	KO Coca-Cola Co	COMMON	0.71%	$4M	63.6K
28	MDT Medtronic Inc.	COMMON	0.67%	$4M	43.1K
29	VTI Vanguard Total Stk Mkt ETF	ETF	0.65%	$3M	14.6K
30	PFE Pfizer Inc.	COMMON	0.63%	$3M	116.4K
31	ROP Roper Industries Inc	COMMON	0.60%	$3M	5.9K
32	HON Honeywell International	COMMON	0.59%	$3M	15.0K
33	CSCO Cisco Systems, Inc.	COMMON	0.59%	$3M	62.3K
34	JPM JP Morgan Chase & Co	COMMON	0.58%	$3M	18.2K
35	WPP WPP	COMMON	0.57%	$3M	63.5K
36	SLB Schlumberger Limited	COMMON	0.56%	$3M	57.3K
37	Splunk Inc	COMMON	0.54%	$3M	18.7K
38	INGR Ingredion Incorporated	COMMON	0.50%	$3M	24.2K
39	CAT Caterpillar	COMMON	0.49%	$3M	8.8K
40	IFF International Flavors & Fragrances Inc	COMMON	0.48%	$3M	31.6K
41	MUNI PIMCO Intermediate Muni Bond ETF	ETF	0.45%	$2M	45.2K
42	CB Chubb Limited	COMMON	0.45%	$2M	10.5K
43	KRC Kilroy Realty Corp REIT	REIT	0.42%	$2M	56.4K
44	EXMOC Exxon Mobil Corporation	COMMON	0.41%	$2M	21.7K
45	VLO Valero Energy	COMMON	0.41%	$2M	16.6K
46	JNJ Johnson & Johnson	COMMON	0.39%	$2M	13.2K
47	FSLR First Solar Inc	COMMON	0.39%	$2M	11.9K
48	PG Procter & Gamble	COMMON	0.38%	$2M	13.8K
49	MCK McKesson Corp.	COMMON	0.38%	$2M	4.3K
50	BND Vanguard Total U.S. Bond Market ETF	ETF	0.38%	$2M	27.1K
51	DD E I DuPont	COMMON	0.37%	$2M	25.8K
52	LLY Eli Lilly & Co.	COMMON	0.37%	$2M	3.4K
53	CHE Chemed Corp.	COMMON	0.36%	$2M	3.3K
54	GLD SPDR Gold Trust ETF	ETF	0.36%	$2M	9.9K
55	NI Nisource Inc.	COMMON	0.36%	$2M	70.8K
56	DUK Duke Energy Corp.	COMMON	0.33%	$2M	18.0K
57	BMY Bristol Myers	COMMON	0.32%	$2M	33.4K
58	EMR Emerson Electric Co.	COMMON	0.32%	$2M	17.2K
59	ATR AptarGroup, Inc	COMMON	0.30%	$2M	12.8K
60	YUMC Yum China Hldgs Inc Com	COMMON	0.30%	$2M	37.1K
61	SBUX Starbucks	COMMON	0.29%	$2M	15.9K
62	SONY Sony Group Corp	COMMON	0.29%	$2M	16.0K
63	VUG Vanguard Growth ETF	ETF	0.28%	$2M	4.8K
64	SPY SPDR S&P 500 ETF	ETF	0.27%	$1M	3.0K
65	QRVO Qorvo Inc	COMMON	0.26%	$1M	12.4K
66	GDX Vaneck Vectors Gold Miners ETF	ETF	0.26%	$1M	44.0K
67	VOO Vanguard 500 ETF	ETF	0.25%	$1M	3.1K
68	VZ Verizon Communications Inc.	COMMON	0.25%	$1M	35.5K
69	AMKR Amkor Technology Inc	COMMON	0.24%	$1M	38.2K
70	ABT Abbott Laboratories	COMMON	0.24%	$1M	11.4K
71	XBI SPDR S&P Biotech ETF	ETF	0.23%	$1M	13.6K
72	FDX Fedex Corporation	COMMON	0.23%	$1M	4.8K
73	ABBV AbbVie Inc.	COMMON	0.23%	$1M	7.7K
74	AZNN AstraZeneca plc ADR	ADR	0.19%	$1M	15.2K
75	MTB M&T Bank Corp	COMMON	0.19%	$1M	7.3K
76	DE Deere & Company	COMMON	0.19%	$998,000	2.5K
77	APD Air Products & Chemicals Inc.	COMMON	0.18%	$974,000	3.6K
78	BSV Vanguard Short-Term Bond ETF	ETF	0.18%	$960,000	12.5K
79	SPDR S&P 500 Fossil Fl Fr ETF	ETF	0.17%	$893,000	23.0K
80	TRV The Travelers Companies Inc.	COMMON	0.17%	$886,000	4.7K
81	PEP Pepsico, Inc.	COMMON	0.17%	$880,000	5.2K
82	BNDX Vanguard Total Int'l Bond Market ETF	ETF	0.17%	$876,000	17.7K
83	MCD McDonald's Corp	COMMON	0.16%	$860,000	2.9K
84	COP Conoco Phillips	COMMON	0.16%	$845,000	7.3K
85	XYL Xylem Inc	COMMON	0.15%	$821,000	7.2K
86	INTC Intel Corp.	COMMON	0.15%	$811,000	16.1K
87	Unilever PLC ADR	ADR	0.15%	$799,000	16.5K
88	MDLZ Mondelez Int'l Inc.	COMMON	0.15%	$777,000	10.7K
89	ITGR Integer Holdings Corp	COMMON	0.14%	$760,000	7.7K
90	WY Weyerhaeuser Company	COMMON	0.14%	$733,000	21.1K
91	IAU Ishares Gold ETF	ETF	0.14%	$729,000	18.7K
92	HD Home Depot	COMMON	0.14%	$720,000	2.1K
93	BDX Becton Dickinson & Co	COMMON	0.14%	$716,000	2.9K
94	WMT Wal-Mart Stores	COMMON	0.13%	$678,000	4.3K
95	MKSI M K S Instruments Inc.	COMMON	0.12%	$647,000	6.3K
96	CVX Chevron Corp.	COMMON	0.12%	$631,000	4.2K
97	TD Toronto-Dominion Bank	COMMON	0.11%	$560,000	8.7K
98	EWBC East West Bancorp	COMMON	0.10%	$554,000	7.7K
99	IBB iShares NASDAQ Biotech ETF	ETF	0.10%	$553,000	4.1K
100	LNT Alliant Energy Corp	COMMON	0.10%	$552,000	10.8K

Filing History

Quarter	Reported Value	Positions	Filed	Type	Links
Q1 2026	$869M	534	Apr 17, 2026	13F-HR	changes · EDGAR ↗
Q4 2025	$832M	484	Jan 20, 2026	13F-HR	changes · EDGAR ↗
Q3 2025	$794M	500	Oct 15, 2025	13F-HR	changes · EDGAR ↗
Q2 2025	$748M	474	Jul 17, 2025	13F-HR	changes · EDGAR ↗
Q1 2025	$685M	467	Apr 17, 2025	13F-HR	changes · EDGAR ↗
Q4 2024	$639M	453	Jan 23, 2025	13F-HR	changes · EDGAR ↗
Q3 2024	$630M	422	Oct 17, 2024	13F-HR	changes · EDGAR ↗
Q2 2024	$597M	454	Aug 8, 2024	13F-HR	changes · EDGAR ↗
Q1 2024	$580M	472	Apr 22, 2024	13F-HR	changes · EDGAR ↗
Q4 2023	$530M	472	Jan 25, 2024	13F-HR	changes · EDGAR ↗
Q3 2023	$485M	420	Oct 24, 2023	13F-HR	changes · EDGAR ↗
Q2 2023	$481M	444	Jul 18, 2023	13F-HR	changes · EDGAR ↗
Q1 2023	$450M	455	Apr 18, 2023	13F-HR	changes · EDGAR ↗
Q4 2022	$465M	524	Jan 18, 2023	13F-HR	changes · EDGAR ↗
Q3 2022	$387M	512	Oct 20, 2022	13F-HR	changes · EDGAR ↗
Q2 2022	$409M	527	Jul 19, 2022	13F-HR	changes · EDGAR ↗
Q1 2022	$465M	508	Apr 22, 2022	13F-HR	changes · EDGAR ↗
Q4 2021	$467M	494	Jan 20, 2022	13F-HR	changes · EDGAR ↗
Q3 2021	$433M	486	Oct 21, 2021	13F-HR	changes · EDGAR ↗
Q2 2021	$335M	415	Jul 22, 2021	13F-HR	changes · EDGAR ↗
Q1 2021	$432M	532	May 3, 2021	13F-HR	changes · EDGAR ↗
Q4 2020	$402M	435	Feb 1, 2021	13F-HR	changes · EDGAR ↗
Q3 2020	$335M	415	Oct 19, 2020	13F-HR	changes · EDGAR ↗
Q2 2020	$316M	434	Jul 17, 2020	13F-HR	changes · EDGAR ↗
Q1 2020	$294M	452	Apr 24, 2020	13F-HR	changes · EDGAR ↗
Q4 2019	$349M	449	Jan 16, 2020	13F-HR	changes · EDGAR ↗
Q3 2019	$322M	452	Oct 18, 2019	13F-HR	changes · EDGAR ↗
Q2 2019	$315M	471	Jul 18, 2019	13F-HR	changes · EDGAR ↗
Q1 2019	$304M	450	Apr 23, 2019	13F-HR	changes · EDGAR ↗
Q4 2018	$277M	451	Jan 31, 2019	13F-HR	changes · 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 ↗.