Managers / Q2 2025 · 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

$748M

Q2 2025

Positions

474

Filings on Record

2019–present window

Filed

Jul 17, 2025

original filing

Summary

Hanson & Doremus Investment Management reported $748M in U.S.-listed holdings across 474 positions for Q2 2025.

The portfolio is heavily concentrated: SCHB alone accounts for 20.4% of reported value.

Compared with Q1 2025, the fund opened 29 new positions and exited 22.

Portfolio Metrics

Turnover

+2.5%

vs prior filed quarter

Top-10 Concentration

+56.1%

share of reported value

Largest Position

+20.4%

Schwab U S Broad Market Etf

New / Exited

29 / 22

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 · 57.6% · $431M
Common Stock · 38.2% · $285M
ADR · 3.3% · $25M
REIT · 0.7% · $5M
Other · 0.2% · $1M
Other · 0.0% · $280,000

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

Issuer	Move	Share Δ	Shares now	Value Δ	Value now
BRK/B Berkshire Hathaway Cl B	NEW	+18.2K	18.2K	+$9M	$9M
NTES NetEase Inc	NEW	+2.0K	2.0K	+$269,000	$269,000
VTES Vanguard Short-Term Tax-Exmpt Bd ETF	NEW	+821	821	+$83,000	$83,000
UPS United Parcel Service	NEW	+666	666	+$67,000	$67,000
MRVL Marvell Tech Group Ltd	NEW	+600	600	+$46,000	$46,000
OXY Occidental Petroleum Corp.	NEW	+666	666	+$28,000	$28,000
OGN Organon & Co	NEW	+2.6K	2.6K	+$26,000	$26,000
DHI D R Horton Co.	NEW	+150	150	+$19,000	$19,000

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

Holdings — Q2 2025

473 positions

Export to Excel

#	Issuer	Class	% Portfolio	Value ↓	Shares
1	SCHB Schwab U.S. Broad Market ETF history →	ETF	20.42%	$153M	6.41M
2	VGIT Vanguard Intermediate Treasury ETF history →	ETF	7.54%	$56M	942.5K
3	VEA Vanguard Developed Market ETF history →	ETF	6.06%	$45M	794.8K
4	VCIT Vanguard Intermediate Corporate ETF history →	ETF	5.76%	$43M	519.2K
5	ESGV Vanguard ESG US Stock ETF history →	ETF	3.24%	$24M	221.3K
6	MSFT Microsoft history →	COMMON	3.24%	$24M	48.6K
7	VWO Vanguard Emerging Market ETF history →	ETF	3.08%	$23M	465.6K
8	TSM Taiwan Semiconductor ADR history →	ADR	2.75%	$21M	90.9K
9	VSGX Vanguard ESG International Stock ETF history →	ETF	2.05%	$15M	234.3K
10	SCHF Schwab Int'l Equity ETF history →	ETF	1.93%	$14M	652.9K
11	SCHW The Charles Schwab Corp.history →	COMMON	1.53%	$11M	125.2K
12	GOOGL Alphabet, Inc. Cl A	COMMON	1.49%	$11M	62.8K
13	COST Costco history →	COMMON	1.45%	$11M	11.0K
14	AAPL Apple Inc.history →	COMMON	1.41%	$11M	51.2K
15	VCEB Vanguard ESG US Corporate Bond ETF history →	ETF	1.40%	$10M	165.1K
16	BRK/B Berkshire Hathaway Cl B history →	COMMON	1.18%	$9M	18.2K
17	V Visa Inc history →	COMMON	1.05%	$8M	22.0K
18	GLW Corning history →	COMMON	1.01%	$8M	143.8K
19	IBM IBM Corp.history →	COMMON	1.01%	$8M	25.5K
20	MRK Merck	COMMON	0.91%	$7M	85.7K
21	AMZN Amazon.Com	COMMON	0.89%	$7M	30.3K
22	STX Seagate Technology PLC	COMMON	0.81%	$6M	41.7K
23	DIS Walt Disney Hldg	COMMON	0.78%	$6M	46.8K
24	IWD iShares Russell 1000 Val ETF	ETF	0.71%	$5M	27.4K
25	VTEB Vanguard Tax-Exempt Bond ETF	ETF	0.71%	$5M	108.5K
26	TRMK Trustmark Corp.	COMMON	0.68%	$5M	139.8K
27	JPM JP Morgan Chase & Co	COMMON	0.67%	$5M	17.2K
28	VTI Vanguard Total Stk Mkt ETF	ETF	0.63%	$5M	15.4K
29	NI Nisource Inc.	COMMON	0.61%	$5M	112.3K
30	MDT Medtronic Inc.	COMMON	0.58%	$4M	49.9K
31	AVGO Broadcom Ltd	COMMON	0.56%	$4M	15.3K
32	CB Chubb Limited	COMMON	0.55%	$4M	14.2K
33	HON Honeywell International	COMMON	0.51%	$4M	16.4K
34	ROP Roper Industries Inc	COMMON	0.50%	$4M	6.6K
35	CSCO Cisco Systems, Inc.	COMMON	0.50%	$4M	53.6K
36	KRC Kilroy Realty Corp REIT	REIT	0.49%	$4M	106.2K
37	PFE Pfizer Inc.	COMMON	0.48%	$4M	147.1K
38	EXMOC Exxon Mobil Corporation	COMMON	0.46%	$3M	32.2K
39	IOT Samsara Inc.	COMMON	0.44%	$3M	83.3K
40	CAT Caterpillar	COMMON	0.44%	$3M	8.5K
41	BA Boeing Co.	COMMON	0.44%	$3M	15.6K
42	PG Procter & Gamble	COMMON	0.43%	$3M	20.4K
43	AMGN Amgen Incorporated	COMMON	0.42%	$3M	11.3K
44	LLY Eli Lilly & Co.	COMMON	0.40%	$3M	3.8K
45	ABBV AbbVie Inc.	COMMON	0.40%	$3M	15.9K
46	MUNI PIMCO Intermediate Muni Bond ETF	ETF	0.39%	$3M	57.4K
47	ATR AptarGroup, Inc	COMMON	0.38%	$3M	18.0K
48	GLD SPDR Gold Trust ETF	ETF	0.38%	$3M	9.2K
49	KO Coca-Cola Co	COMMON	0.37%	$3M	39.2K
50	ABT Abbott Laboratories	COMMON	0.37%	$3M	20.3K
51	YUMC Yum China Hldgs Inc Com	COMMON	0.35%	$3M	57.9K
52	SLB Schlumberger Limited	COMMON	0.32%	$2M	71.7K
53	GDX Vaneck Vectors Gold Miners ETF	ETF	0.31%	$2M	44.5K
54	PCOR Procore Technologies, Inc.	COMMON	0.30%	$2M	32.6K
55	MCK McKesson Corp.	COMMON	0.29%	$2M	3.0K
56	VUG Vanguard Growth ETF	ETF	0.29%	$2M	4.9K
57	VLO Valero Energy	COMMON	0.28%	$2M	15.6K
58	NCLH Norwegian Cruise Line Holding Ltd	COMMON	0.27%	$2M	100.8K
59	JNJ Johnson & Johnson	COMMON	0.27%	$2M	13.3K
60	SPY SPDR S&P 500 ETF	ETF	0.26%	$2M	3.1K
61	VOO Vanguard 500 ETF	ETF	0.26%	$2M	3.4K
62	IQV IQVIA Holdings Inc.	ETF	0.25%	$2M	11.9K
63	FSLR First Solar Inc	COMMON	0.23%	$2M	10.2K
64	SONY Sony Group Corp	COMMON	0.22%	$2M	63.8K
65	DUK Duke Energy Corporation	COMMON	0.22%	$2M	13.9K
66	ISRG Intuitive Surgical	COMMON	0.21%	$2M	2.9K
67	CHE Chemed Corp.	COMMON	0.21%	$2M	3.2K
68	EMR Emerson Electric Co.	COMMON	0.19%	$1M	10.9K
69	MCD McDonald's Corp	COMMON	0.19%	$1M	4.9K
70	DE Deere & Company	COMMON	0.18%	$1M	2.7K
71	SPDR S&P 500 Fossil Fl Fr ETF	ETF	0.18%	$1M	26.5K
72	TRV The Travelers Companies Inc.	COMMON	0.17%	$1M	4.8K
73	DOV Dover Corporation	COMMON	0.17%	$1M	6.8K
74	WMT Wal-Mart Stores	COMMON	0.16%	$1M	12.6K
75	GE Aerospace	COMMON	0.16%	$1M	4.6K
76	NVDA Nvidia Corp	COMMON	0.16%	$1M	7.5K
77	XYL Xylem Inc	COMMON	0.15%	$1M	8.5K
78	APD Air Products & Chemicals Inc.	COMMON	0.15%	$1M	3.9K
79	VZ Verizon Communications Inc.	COMMON	0.14%	$1M	23.5K
80	AZNN AstraZeneca plc ADR	ADR	0.13%	$1M	14.3K
81	AXP American Express Company	COMMON	0.13%	$968,000	3.0K
82	HD Home Depot	COMMON	0.13%	$957,000	2.6K
83	PEP Pepsico, Inc.	COMMON	0.12%	$925,000	7.0K
84	MTB M&T Bank Corp	COMMON	0.12%	$867,000	4.5K
85	IAU Ishares Gold ETF	ETF	0.11%	$847,000	13.6K
86	BMY Bristol Myers	COMMON	0.11%	$842,000	18.2K
87	FDX Fedex Corporation	COMMON	0.11%	$824,000	3.6K
88	INGR Ingredion Incorporated	COMMON	0.11%	$793,000	5.8K
89	CVX Chevron Corp.	COMMON	0.11%	$786,000	5.5K
90	ETN Eaton Corp.	COMMON	0.10%	$740,000	2.1K
91	Brookfield Renewable Corp Ordinary Shares - Class	COMMON	0.10%	$737,000	22.5K
92	EWBC East West Bancorp	COMMON	0.10%	$714,000	7.1K
93	AMKR Amkor Technology Inc	COMMON	0.09%	$696,000	33.2K
94	COP Conoco Phillips	COMMON	0.09%	$684,000	7.6K
95	IVV iShares S&P 500 Index ETF	ETF	0.09%	$671,000	1.1K
96	TT Trane Technologies PLC	COMMON	0.09%	$663,000	1.5K
97	INTC Intel Corp.	COMMON	0.09%	$652,000	29.1K
98	XLK Sector SPDR Tech Select Shares	ETF	0.09%	$638,000	2.5K
99	ADP Auto Data Processing	COMMON	0.08%	$626,000	2.0K
100	MKSI M K S Instruments Inc.	COMMON	0.08%	$617,000	6.2K

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 ↗.