Hanson & Doremus Investment Management
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 17, 2025), Hanson & Doremus Investment Management reported 473 stock positions worth $747.6 million. Its top holding was Schwab US Broad Market ETF (SCHB) at 20.4% of the portfolio, followed by Vanguard Intermediate-Term T (VGIT, 7.5%) and Vanguard Ftse Developed ETF (VEA, 6.1%). Compared with Q1 2025, it opened 28 new positions, sold out of 22, added to 83 and reduced 124. The biggest buy was a new position in Berkshire Hathaway Class B (BRK.B) and the biggest sale Coca-Cola (KO, shares −22%).
- Most Recent 13F
- Q2 2026
- Location
- BURLINGTON, VT
- CIK
- 0001393944
- Portfolio Value
- $747.6M (Q2 2025)
- SEC Filing
- 0001393944-25-000003 ↗ filed Jul 17, 2025
Holdings Value
Holdings 473 stocks · $747.6M
| SCHB Schwab US Broad Market ETF | 20.42% | 6,406,096 | $152.7M | Add +1.9% |
| VGIT Vanguard Intermediate-Term T | 7.54% | 942,520 | $56.4M | Add +3.9% |
| VEA Vanguard Ftse Developed ETF | 6.06% | 794,818 | $45.3M | Add +3.5% |
| VCIT Vanguard Int-Term Corporate | 5.76% | 519,224 | $43.1M | Add +4.6% |
| ESGV Vanguard ESG US Stock ETF | 3.24% | 221,254 | $24.3M | Add +1.2% |
| MSFT Microsoft Corp. | 3.24% | 48,649 | $24.2M | Reduce -0.3% |
| VWO Vanguard Ftse Emerging Marke | 3.08% | 465,603 | $23.0M | Add +3.3% |
| TSM Taiwan Semiconductor-SP ADR | 2.75% | 90,896 | $20.6M | Reduce -4.2% |
| VSGX Vanguard ESG Intl Stock ETF | 2.05% | 234,285 | $15.3M | Add +1.4% |
| SCHF Schwab Intl Equity ETF | 1.93% | 652,915 | $14.4M | Reduce -0.5% |
| SCHW Schwab (charles) Corp. | 1.53% | 125,238 | $11.4M | Reduce -7.9% |
| COST Costco Wholesale Corp. | 1.45% | 10,961 | $10.9M | Reduce -3.8% |
| AAPL Apple Inc. | 1.41% | 51,236 | $10.5M | Add +0.6% |
| VCEB Vanguard ESG US Corp. Bond | 1.40% | 165,058 | $10.5M | Add +4.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.18% | 18,165 | $8.8M | New |
| V Visa Inc. Class A | 1.05% | 22,042 | $7.8M | Reduce -1.3% |
| GLW Corning Inc. | 1.01% | 143,761 | $7.6M | Reduce -7.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.01% | 25,525 | $7.5M | Reduce -7.1% |
| MRK Merck & Co. Inc. | 0.91% | 85,739 | $6.8M | Add +39.4% |
| AMZN Amazon.com Inc. | 0.89% | 30,258 | $6.6M | Reduce -3.4% |
| GOOGL Alphabet Inc. Class A | 0.85% | 35,947 | $6.3M | Reduce -1.3% |
| STX Seagate Technology Holdings | 0.81% | 41,738 | $6.0M | Reduce -3.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.78% | 46,790 | $5.8M | Reduce -1.3% |
| IWD iShares Russell 1000 Value E | 0.71% | 27,447 | $5.3M | Add +0.1% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.71% | 108,550 | $5.3M | Add +6.1% |
| TRMK Trustmark Corp. | 0.68% | 139,788 | $5.1M | No change |
| JPM JPMorgan Chase & Co. | 0.67% | 17,174 | $5.0M | Reduce -20.0% |
| GOOG Alphabet Inc. Class C | 0.64% | 26,886 | $4.8M | Reduce -17.6% |
| VTI VG Morningstar TS MKT ETF-US | 0.63% | 15,404 | $4.7M | Reduce -1.5% |
| NI Nisource Inc. | 0.61% | 112,345 | $4.5M | Reduce -9.3% |
| MDT Medtronic PLC | 0.58% | 49,852 | $4.3M | Reduce -0.4% |
| AVGO Broadcom Inc. | 0.56% | 15,318 | $4.2M | Add +14.9% |
| CB Chubb Ltd. | 0.55% | 14,173 | $4.1M | Add +0.8% |
| HON Honeywell International Inc. | 0.51% | 16,374 | $3.8M | Add +0.8% |
| ROP Roper Technologies Inc. | 0.50% | 6,604 | $3.7M | Reduce -1.7% |
| CSCO Cisco Systems Inc. | 0.50% | 53,561 | $3.7M | Reduce -22.8% |
| KRC Kilroy Realty Corp. | 0.49% | 106,226 | $3.6M | Add +4.4% |
| PFE Pfizer Inc. | 0.48% | 147,090 | $3.6M | Reduce -4.7% |
| XOM Exxon Mobil Corp. | 0.46% | 32,168 | $3.5M | Add +18.8% |
| IOT Samsara Inc. Class A | 0.44% | 83,261 | $3.3M | Add +5.5% |
| CAT Caterpillar Inc. | 0.44% | 8,526 | $3.3M | Add +2.2% |
| BA The Boeing Co. | 0.44% | 15,579 | $3.3M | Reduce -1.1% |
| PG The Procter & Gamble Co. | 0.43% | 20,404 | $3.3M | Reduce -6.0% |
| AMGN Amgen Inc. | 0.42% | 11,347 | $3.2M | Add +14.3% |
| LLY Eli Lilly & Co. | 0.40% | 3,833 | $3.0M | Reduce -0.2% |
| ABBV Abbvie Inc. | 0.40% | 15,924 | $3.0M | Reduce -0.4% |
| MUNI PIMCO Intermediate Municipal | 0.39% | 57,372 | $2.9M | Add +11.9% |
| ATR Aptargroup Inc. | 0.38% | 18,033 | $2.8M | Reduce -1.5% |
| GLD SPDR Gold Shares | 0.38% | 9,239 | $2.8M | No change |
| KO The Coca-Cola Co. | 0.37% | 39,230 | $2.8M | Reduce -22.2% |
| ABT Abbott Laboratories | 0.37% | 20,340 | $2.8M | Reduce -19.9% |
| YUMC Yum China Holdings Inc. | 0.35% | 57,869 | $2.6M | Reduce -3.8% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.32% | 71,729 | $2.4M | Reduce -1.4% |
| GDX Vaneck Gold Miners ETF | 0.31% | 44,509 | $2.3M | No change |
| PCOR Procore Technologies Inc. | 0.30% | 32,558 | $2.2M | Add +6.6% |
| MCK McKesson Corp. | 0.29% | 2,995 | $2.2M | Reduce -5.9% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.29% | 4,901 | $2.1M | No change |
| VLO Valero Energy Corp. | 0.28% | 15,569 | $2.1M | Reduce -0.5% |
| NCLH Norwegian Cruise Line Holdin | 0.27% | 100,810 | $2.0M | Add +6.8% |
| JNJ Johnson & Johnson | 0.27% | 13,251 | $2.0M | Reduce -13.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.26% | 3,145 | $1.9M | Reduce -0.1% |
| VOO Vanguard S&P 500 ETF | 0.26% | 3,377 | $1.9M | Add +0.2% |
| IQV Iqvia Holdings Inc. | 0.25% | 11,901 | $1.9M | Add +6.8% |
| FSLR First Solar Inc. | 0.23% | 10,244 | $1.7M | Reduce -1.1% |
| SONY Sony Group Corp. - SP ADR | 0.22% | 63,798 | $1.7M | Reduce -6.9% |
| DUK Duke Energy Corp. | 0.22% | 13,919 | $1.6M | Reduce -15.3% |
| ISRG Intuitive Surgical Inc. | 0.21% | 2,902 | $1.6M | Add +110.3% |
| CHE Chemed Corp. | 0.21% | 3,151 | $1.5M | Reduce -9.8% |
| EMR Emerson Electric Co. | 0.19% | 10,928 | $1.5M | Reduce -42.4% |
| MCD McDonald's Corp. | 0.19% | 4,924 | $1.4M | Add +2.6% |
| DE Deere & Co. | 0.18% | 2,714 | $1.4M | Reduce -0.7% |
| SPYX SS SPDR S&P 500 Foss FL ETF | 0.18% | 26,511 | $1.4M | No change |
| TRV The Travelers Cos Inc. | 0.17% | 4,803 | $1.3M | Reduce -6.9% |
| DOV Dover Corp. | 0.17% | 6,782 | $1.2M | Add +2.3% |
| WMT Walmart Inc. | 0.16% | 12,609 | $1.2M | Reduce -44.9% |
| GE General Electric filed as GE AEROSPACE | 0.16% | 4,649 | $1.2M | Reduce -27.9% |
| NVDA Nvidia Corp. | 0.16% | 7,511 | $1.2M | Reduce -4.9% |
| XYL Xylem Inc. | 0.15% | 8,516 | $1.1M | Add +0.9% |
| APD Air Products & Chemicals Inc. | 0.15% | 3,897 | $1.1M | Reduce -33.6% |
| VZ Verizon Communications Inc. | 0.14% | 23,479 | $1.0M | Reduce -22.3% |
| AZN Astrazeneca PLC-Spons ADR | 0.13% | 14,317 | $1.0M | Reduce -0.2% |
| AXP American Express Co. | 0.13% | 3,034 | $968K | Reduce -22.5% |
| HD Home Depot Inc. | 0.13% | 2,610 | $957K | No change |
| PEP Pepsico Inc. | 0.12% | 7,008 | $925K | Add +11.8% |
| MTB M & T Bank Corp. filed as M & T BK CORP | 0.12% | 4,471 | $867K | No change |
| IAU iShares Gold Trust | 0.11% | 13,586 | $847K | Reduce -3.1% |
| BMY Bristol-Myers Squibb Co. | 0.11% | 18,188 | $842K | Reduce -3.8% |
| FDX FedEx Corp. | 0.11% | 3,627 | $824K | Reduce -5.8% |
| INGR Ingredion Inc. | 0.11% | 5,846 | $793K | Reduce -15.1% |
| CVX Chevron Corp. | 0.11% | 5,492 | $786K | No change |
| ETN Eaton Corp. PLC | 0.10% | 2,074 | $740K | Reduce -1.4% |
| BEPC Brookfield Renewable Cor-A | 0.10% | 22,488 | $737K | Add +2.2% |
| EWBC East West Bancorp Inc. | 0.10% | 7,074 | $714K | Reduce -13.7% |
| AMKR Amkor Technology Inc. | 0.09% | 33,156 | $696K | Reduce -2.6% |
| COP Conocophillips | 0.09% | 7,623 | $684K | Reduce -1.3% |
| IVV iShares Core S&P 500 ETF | 0.09% | 1,081 | $671K | No change |
| TT Trane Technologies PLC | 0.09% | 1,515 | $663K | No change |
| INTC Intel Corp. | 0.09% | 29,126 | $652K | Add +14.9% |
| XLK SS Technology Select Sector | 0.09% | 2,519 | $638K | Add +5.3% |
| ADP Automatic Data Processing | 0.08% | 2,031 | $626K | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $3K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 123 | $3K | New |
Total filed on the 13F, all lines: $747.6M.
Portfolio Sells Q1 2025 → Q2 2025
| KO The Coca-Cola Co. | Reduce -22.2% | 0.37% | −0.16 |
| WMT Walmart Inc. | Reduce -44.9% | 0.16% | −0.13 |
| CSCO Cisco Systems Inc. | Reduce -22.8% | 0.50% | −0.13 |
| COST Costco Wholesale Corp. | Reduce -3.8% | 1.45% | −0.12 |
| ABT Abbott Laboratories | Reduce -19.9% | 0.37% | −0.12 |
| SLB SLB Ltd. | Reduce -1.4% | 0.32% | −0.12 |
| NI Nisource Inc. | Reduce -9.3% | 0.61% | −0.12 |
| YUMC Yum China Holdings Inc. | Reduce -3.8% | 0.35% | −0.11 |
| EMR Emerson Electric Co. | Reduce -42.4% | 0.19% | −0.11 |
| CHE Chemed Corp. | Reduce -9.8% | 0.21% | −0.11 |
| GOOG Alphabet Inc. Class C | Reduce -17.6% | 0.64% | −0.11 |
| APD Air Products & Chemicals Inc. | Reduce -33.6% | 0.15% | −0.11 |
| PG The Procter & Gamble Co. | Reduce -6.0% | 0.43% | −0.11 |
| JPM JPMorgan Chase & Co. | Reduce -20.0% | 0.67% | −0.10 |
| JNJ Johnson & Johnson | Reduce -13.0% | 0.27% | −0.10 |
| V Visa Inc. Class A | Reduce -1.3% | 1.05% | −0.10 |
| PFE Pfizer Inc. | Reduce -4.7% | 0.48% | −0.09 |
| ABBV Abbvie Inc. | Reduce -0.4% | 0.40% | −0.09 |
| TD Toronto-Dominion Bank | Reduce -60.2% | 0.07% | −0.09 |
| NSC Norfolk Southern Corp. | Reduce -60.2% | 0.05% | −0.08 |
| ROP Roper Technologies Inc. | Reduce -1.7% | 0.50% | −0.08 |
| CSX CSX Corp. | Reduce -67.9% | 0.04% | −0.08 |
| MDT Medtronic PLC | Reduce -0.4% | 0.58% | −0.08 |
| DUK Duke Energy Corp. | Reduce -15.3% | 0.22% | −0.07 |
| UL Unilever PLC | Reduce -46.8% | 0.07% | −0.07 |
| TIP iShares Tips Bond ETF | Reduce -56.0% | 0.05% | −0.07 |
| VZ Verizon Communications Inc. | Reduce -22.3% | 0.14% | −0.06 |
| NVS Novartis AG-Sponsored ADR | Reduce -86.2% | 0.01% | −0.06 |
| LLY Eli Lilly & Co. | Reduce -0.2% | 0.40% | −0.06 |
| BMY Bristol-Myers Squibb Co. | Reduce -3.8% | 0.11% | −0.06 |
| ITGR Integer Holdings Corp. | Reduce -32.0% | 0.06% | −0.03 |
| IFF Intl Flavors & Fragrances | Reduce -66.8% | 0.01% | −0.03 |
| SONY Sony Group Corp. - SP ADR | Reduce -6.9% | 0.22% | −0.03 |
| BDX Becton Dickinson and Co. | Reduce -0.8% | 0.07% | −0.03 |
| GLW Corning Inc. | Reduce -7.7% | 1.01% | −0.03 |
| INGR Ingredion Inc. | Reduce -15.1% | 0.11% | −0.03 |
| GE General Electric | Reduce -27.9% | 0.16% | −0.03 |
| TRV The Travelers Cos Inc. | Reduce -6.9% | 0.17% | −0.03 |
| COP Conocophillips | Reduce -1.3% | 0.09% | −0.03 |
| FDX FedEx Corp. | Reduce -5.8% | 0.11% | −0.03 |
| SCHW Schwab (charles) Corp. | Reduce -7.9% | 1.53% | −0.03 |
| AXP American Express Co. | Reduce -22.5% | 0.13% | −0.02 |
| WY Weyerhaeuser Co. | Reduce -31.5% | 0.03% | −0.02 |
| VLO Valero Energy Corp. | Reduce -0.5% | 0.28% | −0.02 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -0.2% | 0.13% | −0.02 |
| OKE Oneok Inc. | Reduce -0.7% | 0.06% | −0.02 |
| ATR Aptargroup Inc. | Reduce -1.5% | 0.38% | −0.02 |
| MCK McKesson Corp. | Reduce -5.9% | 0.29% | −0.02 |
| DD Dupont DE Nemours Inc. | Reduce -25.3% | 0.03% | −0.02 |
| PEG Public Service Enterprise GP | Reduce -33.3% | 0.03% | −0.02 |
Portfolio Buys Q1 2025 → Q2 2025
| BRK.B Berkshire Hathaway Inc. Class B | New | 1.18% | +1.18 |
| SCHB Schwab US Broad Market ETF | Add +1.9% | 20.42% | +0.66 |
| VEA Vanguard Ftse Developed ETF | Add +3.5% | 6.06% | +0.36 |
| AVGO Broadcom Inc. | Add +14.9% | 0.56% | +0.24 |
| ESGV Vanguard ESG US Stock ETF | Add +1.2% | 3.24% | +0.12 |
| ISRG Intuitive Surgical Inc. | Add +110.3% | 0.21% | +0.11 |
| MRK Merck & Co. Inc. | Add +39.4% | 0.91% | +0.10 |
| VWO Vanguard Ftse Emerging Marke | Add +3.3% | 3.08% | +0.10 |
| VSGX Vanguard ESG Intl Stock ETF | Add +1.4% | 2.05% | +0.06 |
| CAT Caterpillar Inc. | Add +2.2% | 0.44% | +0.04 |
| NTES Netease Inc.-ADR | New | 0.04% | +0.04 |
| CI The Cigna Group | Add +88.3% | 0.07% | +0.03 |
| NFLX Netflix Inc. | Add +56.1% | 0.05% | +0.03 |
| ZTS Zoetis Inc. | Add +143.9% | 0.03% | +0.01 |
| XLK SS Technology Select Sector | Add +5.3% | 0.09% | +0.01 |
| VITL Vital Farms Inc. | Add +43.7% | 0.03% | +0.01 |
| NCLH Norwegian Cruise Line Holdin | Add +6.8% | 0.27% | +0.01 |
| VTES Vanguard SH Term Tax-Ex Bond | New | 0.01% | +0.01 |
| GNRC Generac Holdings Inc. | Add +14.2% | 0.07% | +0.01 |
| HPE Hewlett Packard Enterprise | Add +73.9% | 0.02% | +0.01 |
| UPS United Parcel Service Class B | New | 0.01% | +0.01 |
| BEPC Brookfield Renewable Cor-A | Add +2.2% | 0.10% | +0.01 |
| GS Goldman Sachs Group Inc. | Add +2.7% | 0.05% | +0.01 |
| MUNI PIMCO Intermediate Municipal | Add +11.9% | 0.39% | +0.01 |
| SWKS Skyworks Solutions Inc. | Add +16.7% | 0.04% | +0.01 |
| VRTX Vertex Pharmaceuticals Inc. | Add +54.0% | 0.03% | +0.01 |
| HON Honeywell International Inc. | Add +0.8% | 0.51% | +0.01 |
| STT State Street Corp. | Add +5.8% | 0.05% | +0.01 |
| MRVL Marvell Technology Inc. | New | 0.01% | +0.01 |
| HPQ HP Inc. | Add +67.4% | 0.02% | +0.01 |
| IWO iShares Russell 2000 Growth | Add +84.2% | 0.01% | +0.01 |
| GSK GSK PLC-Spon ADR | Add +92.3% | 0.01% | +0.01 |
| IWM iShares Russell 2000 ETF | Add +29.9% | 0.03% | +0.01 |
| PANW Palo Alto Networks Inc. | Add +16.8% | 0.03% | +0.01 |
| OXY Occidental Petroleum Corp. | New | 0.00% | +0.00 |
| PCOR Procore Technologies Inc. | Add +6.6% | 0.30% | +0.00 |
| VOO Vanguard S&P 500 ETF | Add +0.2% | 0.26% | +0.00 |
| OGN Organon & Co. | New | 0.00% | +0.00 |
| QQQ Invesco QQQ Trust Series 1 | Add +18.0% | 0.02% | +0.00 |
| INTC Intel Corp. | Add +14.9% | 0.09% | +0.00 |
| LH Labcorp Holdings Inc. | Add +9.9% | 0.03% | +0.00 |
| MMM 3M Co. | Add +15.9% | 0.03% | +0.00 |
| WPC WP Carey Inc. | Add +34.1% | 0.02% | +0.00 |
| WM Waste Management Inc. | Add +24.6% | 0.02% | +0.00 |
| VIG Vanguard Dividend Apprec ETF | Add +7.5% | 0.07% | +0.00 |
| DHI D.R. Horton Inc. | New | 0.00% | +0.00 |
| HDV iShares Core High Dividend E | New | 0.00% | +0.00 |
| CATH Global X S&P 500 Ca Val ETF | Add +2.5% | 0.05% | +0.00 |
| HLN Haleon PLC-ADR | Add +234.1% | 0.00% | +0.00 |
| VEEV Veeva Systems Inc. Class A | New | 0.00% | +0.00 |
Notes & Other Activity Q1 2025 → Q2 2025
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | New | 123 | $3K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 483 | $982.7M | SCHB, VGIT, VCIT, VEA, TSM |
| Q1 2026 | 533 | $869.2M | SCHB, VGIT, VEA, VCIT, VWO |
| Q4 2025 | 484 | $831.9M | SCHB, VGIT, VEA, VCIT, ESGV |
| Q3 2025 | 500 | $794.4M | SCHB, VGIT, VEA, VCIT, ESGV |
| Q2 2025 | 473 | $747.6M | SCHB, VGIT, VEA, VCIT, ESGV |
| Q1 2025 | 467 | $684.6M | SCHB, VGIT, VCIT, VEA, ESGV |
| Q4 2024 | 453 | $639.3M | SCHB, VGIT, VCIT, VEA, ESGV |
| Q3 2024 | 422 | $629.5M | SCHB, VGIT, VEA, VCIT, VWO |
| Q2 2024 | 453 | $596.9M | SCHB, VGIT, VEA, VCIT, VWO |
| Q1 2024 | 472 | $580.4M | SCHB, VGIT, VEA, VCIT, ESGV |