Hanson & Doremus Investment Management Q2 2025 Filing

Filed July 17, 2025

Portfolio Value

$747.6M

Holdings

474

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (474 positions)

#	Stock	Shares	Value	% Portfolio
1	SCHBSchwab U.S. Broad Market ETF	6,406,096	$152.7M	20.42%
2	VGITVanguard Intermediate Treasury ETF	942,520	$56.4M	7.54%
3	VEAVanguard Developed Market ETF	794,818	$45.3M	6.06%
4	VCITVanguard Intermediate Corporate ETF	519,224	$43.1M	5.76%
5	ESGVVanguard ESG US Stock ETF	221,254	$24.3M	3.24%
6	MSFTMicrosoft	48,649	$24.2M	3.24%
7	VWOVanguard Emerging Market ETF	465,603	$23.0M	3.08%
8	TSMTaiwan Semiconductor ADR	90,896	$20.6M	2.75%
9	VSGXVanguard ESG International Stock ETF	234,285	$15.3M	2.05%
10	SCHFSchwab Int'l Equity ETF	652,915	$14.4M	1.93%
11	SCHWThe Charles Schwab Corp.	125,238	$11.4M	1.53%
12	COSTCostco	10,961	$10.9M	1.45%
13	AAPLApple Inc.	51,236	$10.5M	1.41%
14	VCEBVanguard ESG US Corporate Bond ETF	165,058	$10.5M	1.40%
15	BRK/BBerkshire Hathaway Cl B	18,165	$8.8M	1.18%
16	VVisa Inc	22,042	$7.8M	1.05%
17	GLWCorning	143,761	$7.6M	1.01%
18	IBMIBM Corp.	25,525	$7.5M	1.01%
19	MRKMerck	85,739	$6.8M	0.91%
20	AMZNAmazon.Com	30,258	$6.6M	0.89%
21	GOOGLAlphabet, Inc. Cl A	35,947	$6.3M	0.85%
22	STXSeagate Technology PLC	41,738	$6.0M	0.81%
23	DISWalt Disney Hldg	46,790	$5.8M	0.78%
24	IWDiShares Russell 1000 Val ETF	27,447	$5.3M	0.71%
25	VTEBVanguard Tax-Exempt Bond ETF	108,550	$5.3M	0.71%
26	TRMKTrustmark Corp.	139,788	$5.1M	0.68%
27	JPMJP Morgan Chase & Co	17,174	$5.0M	0.67%
28	GOOGAlphabet, Inc Cl C	26,886	$4.8M	0.64%
29	VTIVanguard Total Stk Mkt ETF	15,404	$4.7M	0.63%
30	NINisource Inc.	112,345	$4.5M	0.61%
31	MDTMedtronic Inc.	49,852	$4.3M	0.58%
32	AVGOBroadcom Ltd	15,318	$4.2M	0.56%
33	CBChubb Limited	14,173	$4.1M	0.55%
34	HONHoneywell International	16,374	$3.8M	0.51%
35	ROPRoper Industries Inc	6,604	$3.7M	0.50%
36	CSCOCisco Systems, Inc.	53,561	$3.7M	0.50%
37	KRCKilroy Realty Corp REIT	106,226	$3.6M	0.49%
38	PFEPfizer Inc.	147,090	$3.6M	0.48%
39	XOMExxon Mobil Corporation	32,168	$3.5M	0.46%
40	IOTSamsara Inc.	83,261	$3.3M	0.44%
41	CATCaterpillar	8,526	$3.3M	0.44%
42	BABoeing Co.	15,579	$3.3M	0.44%
43	PGProcter & Gamble	20,404	$3.3M	0.43%
44	AMGNAmgen Incorporated	11,347	$3.2M	0.42%
45	LLYEli Lilly & Co.	3,833	$3.0M	0.40%
46	ABBVAbbVie Inc.	15,924	$3.0M	0.40%
47	MUNIPIMCO Intermediate Muni Bond ETF	57,372	$2.9M	0.39%
48	ATRAptarGroup, Inc	18,033	$2.8M	0.38%
49	GQ9SPDR Gold Trust ETF	9,239	$2.8M	0.38%
50	KOCoca-Cola Co	39,230	$2.8M	0.37%
51	ABTAbbott Laboratories	20,340	$2.8M	0.37%
52	YUMCYum China Hldgs Inc Com	57,869	$2.6M	0.35%
53	SLBSchlumberger Limited	71,729	$2.4M	0.32%
54	GDXVaneck Vectors Gold Miners ETF	44,509	$2.3M	0.31%
55	PCORProcore Technologies, Inc.	32,558	$2.2M	0.30%
56	MCKMcKesson Corp.	2,995	$2.2M	0.29%
57	VUGVanguard Growth ETF	4,901	$2.1M	0.29%
58	VLOValero Energy	15,569	$2.1M	0.28%
59	NCLHNorwegian Cruise Line Holding Ltd	100,810	$2.0M	0.27%
60	JNJJohnson & Johnson	13,251	$2.0M	0.27%
61	SPYSPDR S&P 500 ETF	3,145	$1.9M	0.26%
62	VOOVanguard 500 ETF	3,377	$1.9M	0.26%
63	IQVIQVIA Holdings Inc.	11,901	$1.9M	0.25%
64	FSLRFirst Solar Inc	10,244	$1.7M	0.23%
65	SONYSony Group Corp	63,798	$1.7M	0.22%
66	DUKDuke Energy Corporation	13,919	$1.6M	0.22%
67	ISRGIntuitive Surgical	2,902	$1.6M	0.21%
68	CHEChemed Corp.	3,151	$1.5M	0.21%
69	EMREmerson Electric Co.	10,928	$1.5M	0.19%
70	MCDMcDonald's Corp	4,924	$1.4M	0.19%
71	DEDeere & Company	2,714	$1.4M	0.18%
72	SPYXSPDR S&P 500 Fossil Fl Fr ETF	26,511	$1.4M	0.18%
73	TRVThe Travelers Companies Inc.	4,803	$1.3M	0.17%
74	DOVDover Corporation	6,782	$1.2M	0.17%
75	WMTWal-Mart Stores	12,609	$1.2M	0.16%
76	GEGE Aerospace	4,649	$1.2M	0.16%
77	NVDANvidia Corp	7,511	$1.2M	0.16%
78	XYLXylem Inc	8,516	$1.1M	0.15%
79	APDAir Products & Chemicals Inc.	3,897	$1.1M	0.15%
80	BACVerizon Communications Inc.	23,479	$1.0M	0.14%
81	AZNAstraZeneca plc ADR	14,317	$1.0M	0.13%
82	AXPAmerican Express Company	3,034	$968K	0.13%
83	HDHome Depot	2,610	$957K	0.13%
84	PEPPepsico, Inc.	7,008	$925K	0.12%
85	MTBM&T Bank Corp	4,471	$867K	0.12%
86	IAU*Ishares Gold ETF	13,586	$847K	0.11%
87	BMYBristol Myers	18,188	$842K	0.11%
88	FDXFedex Corporation	3,627	$824K	0.11%
89	INGRIngredion Incorporated	5,846	$793K	0.11%
90	CVXChevron Corp.	5,492	$786K	0.11%
91	ETNEaton Corp.	2,074	$740K	0.10%
92	BEPCBrookfield Renewable Corp Ordinary Shares - Class	22,488	$737K	0.10%
93	EWBCEast West Bancorp	7,074	$714K	0.10%
94	AMKRAmkor Technology Inc	33,156	$696K	0.09%
95	COPConoco Phillips	7,623	$684K	0.09%
96	IVViShares S&P 500 Index ETF	1,081	$671K	0.09%
97	TTTrane Technologies PLC	1,515	$663K	0.09%
98	INTCIntel Corp.	29,126	$652K	0.09%
99	XLKSector SPDR Tech Select Shares	2,519	$638K	0.09%
100	ADPAuto Data Processing	2,031	$626K	0.08%

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