HM Payson & Co.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed October 17, 2025), HM Payson & Co. reported 996 stock positions worth $6.3 billion. Its top holding was Microsoft (MSFT) at 7.3% of the portfolio, followed by Broadcom (AVGO, 6.0%) and Apple (AAPL, 5.8%). Compared with Q1 2025, it opened 28 new positions, sold out of 68, added to 200 and reduced 294. The biggest buy was Microsoft (MSFT, shares +12%) and the biggest sale Berkshire Hathaway Class B (BRK.B, shares −7%).
- Most Recent 13F
- Q2 2026
- Location
- PORTLAND, ME
- CIK
- 0000928052
- Portfolio Value
- $6.3B (Q2 2025)
- SEC Filing
- 0000928052-25-000005 ↗ filed Oct 17, 2025
Holdings Value
Holdings 996 stocks · $6.3B
| MSFT Microsoft Corp. | 7.32% | 929,577 | $462.4M | Add +11.5% |
| AVGO Broadcom Inc. | 6.01% | 1,375,707 | $379.2M | Reduce -4.0% |
| AAPL Apple Inc. | 5.80% | 1,786,389 | $366.5M | Add +0.2% |
| NVDA Nvidia Corp. | 4.41% | 1,762,382 | $278.4M | Add +12.3% |
| GOOG Alphabet Inc. Class C | 3.46% | 1,232,337 | $218.6M | Reduce -15.2% |
| AMZN Amazon.com Inc. | 3.19% | 919,028 | $201.6M | Add +5.6% |
| META Meta Platforms Inc. Class A | 2.30% | 196,588 | $145.1M | Add +8.7% |
| V Visa Inc. Class A | 2.26% | 401,582 | $142.6M | Reduce -1.7% |
| IBTH iShares Ibonds Dec 2027 Term | 2.23% | 6,259,236 | $140.8M | Add +14.6% |
| LHX L3HARRIS Technologies Inc. | 2.15% | 540,433 | $135.6M | Add +7.4% |
| MA Mastercard Inc. Class A | 2.14% | 240,527 | $135.2M | Reduce -2.6% |
| JPM JPMorgan Chase & Co. | 2.05% | 446,638 | $129.5M | Add +16.9% |
| LRCX Lam Research Corp. | 1.99% | 1,293,129 | $125.9M | Add +11.4% |
| IBTG iShares Ibonds Dec 2026 Term | 1.84% | 5,054,564 | $115.9M | Add +7.2% |
| ABBV Abbvie Inc. | 1.75% | 595,509 | $110.5M | Reduce -2.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.72% | 222,946 | $108.3M | Reduce -7.3% |
| IBTF iShares Ibonds Dec 2025 Term | 1.67% | 4,519,160 | $105.6M | Add +0.0% |
| ACN Accenture PLC Class A | 1.63% | 344,398 | $102.9M | Add +5.2% |
| AME Ametek Inc. | 1.62% | 564,405 | $102.1M | Add +5.0% |
| HD Home Depot Inc. | 1.57% | 271,141 | $99.4M | Add +2.9% |
| AZO AutoZone Inc. | 1.42% | 24,114 | $89.5M | Add +4.3% |
| ASML ASML Holding NV-NY Reg SHS | 1.37% | 108,228 | $86.7M | Add +2.1% |
| TMO Thermo Fisher Scientific Inc. | 1.32% | 205,974 | $83.5M | Add +17.2% |
| GOOGL Alphabet Inc. Class A | 1.28% | 458,040 | $80.7M | Reduce -8.7% |
| IBDS Ishrs Ibnds Dec 27 Corp. ETF | 1.25% | 3,252,877 | $78.9M | Add +1.5% |
| IBDQ iShares Ibonds Dec 2025 Term | 1.24% | 3,119,530 | $78.5M | Reduce -5.1% |
| IBDR iShares Ibonds Dec 2026 Term | 1.23% | 3,196,613 | $77.5M | Add +16.0% |
| HUBB Hubbell Inc. | 1.22% | 189,101 | $77.2M | Add +4.6% |
| SPGI S&P Global Inc. | 1.05% | 125,330 | $66.1M | Add +3.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.94% | 483,030 | $59.6M | Reduce -2.7% |
| CDW CDW Corp. | 0.93% | 329,195 | $58.8M | Reduce -8.3% |
| MCD McDonald's Corp. | 0.91% | 196,588 | $57.4M | Reduce -1.8% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.89% | 770,961 | $56.0M | Add +71.8% |
| ORCL Oracle Corp. | 0.88% | 253,255 | $55.4M | Reduce -2.1% |
| JNJ Johnson & Johnson | 0.86% | 353,668 | $54.0M | Reduce -1.8% |
| CAT Caterpillar Inc. | 0.85% | 138,026 | $53.6M | Reduce -11.4% |
| MPC Marathon Petroleum Corp. | 0.84% | 320,946 | $53.3M | Reduce -13.7% |
| ABT Abbott Laboratories | 0.83% | 385,412 | $52.4M | Reduce -1.5% |
| NVT Nvent Electric PLC | 0.82% | 705,975 | $51.7M | Add +15.0% |
| LOW Lowe's Cos Inc. | 0.78% | 221,475 | $49.1M | Reduce -4.6% |
| AON Aon PLC Class A | 0.75% | 133,506 | $47.6M | Add +3.0% |
| XOM Exxon Mobil Corp. | 0.68% | 400,720 | $43.2M | Reduce -7.3% |
| AMGN Amgen Inc. | 0.66% | 149,928 | $41.9M | Reduce -31.2% |
| GD General Dynamics Corp. | 0.60% | 129,963 | $37.9M | Reduce -1.5% |
| TYL Tyler Technologies Inc. | 0.58% | 61,850 | $36.7M | Reduce -0.5% |
| PG The Procter & Gamble Co. | 0.55% | 218,765 | $34.9M | Reduce -3.5% |
| CVX Chevron Corp. | 0.53% | 234,059 | $33.5M | Add +10.7% |
| LLY Eli Lilly & Co. | 0.50% | 40,132 | $31.3M | Add +88.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.49% | 50,377 | $31.1M | Reduce -16.8% |
| DHR Danaher Corp. | 0.47% | 150,257 | $29.7M | Add +7.4% |
| WMT Walmart Inc. | 0.44% | 284,051 | $27.8M | Add +0.1% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.44% | 38 | $27.7M | No change |
| RTX RTX Corp. | 0.43% | 186,835 | $27.3M | Reduce -0.5% |
| AXP American Express Co. | 0.40% | 79,826 | $25.5M | Reduce -1.1% |
| DE Deere & Co. | 0.38% | 47,744 | $24.3M | Add +53.7% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.38% | 348,521 | $24.1M | Add +4849.9% |
| DOV Dover Corp. | 0.37% | 126,446 | $23.2M | Add +26.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.36% | 77,368 | $22.8M | Add +2.2% |
| CMI Cummins Inc. | 0.32% | 61,916 | $20.3M | Reduce -1.5% |
| SUSA iShares ESG Optimized MSCI U | 0.32% | 158,757 | $20.1M | Add +77.8% |
| PH Parker Hannifin Corp. | 0.32% | 28,527 | $19.9M | Reduce -3.3% |
| DHI D.R. Horton Inc. | 0.31% | 149,644 | $19.3M | Reduce -17.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.30% | 401,456 | $19.0M | Reduce -2.4% |
| TSM Taiwan Semiconductor-SP ADR | 0.26% | 72,566 | $16.4M | Reduce -1.9% |
| AFL Aflac Inc. | 0.25% | 150,047 | $15.8M | Reduce -15.1% |
| MRK Merck & Co. Inc. | 0.25% | 197,371 | $15.6M | Reduce -6.4% |
| TXN Texas Instruments Inc. | 0.25% | 74,525 | $15.5M | Reduce -9.2% |
| FISV Fiserv Inc. | 0.24% | 87,811 | $15.1M | Add +101.0% |
| CSCO Cisco Systems Inc. | 0.24% | 216,614 | $15.0M | Reduce -2.4% |
| DPZ Domino's Pizza Inc. | 0.23% | 32,000 | $14.4M | Add +2.9% |
| PEP Pepsico Inc. | 0.23% | 107,734 | $14.2M | Reduce -5.3% |
| ADP Automatic Data Processing | 0.21% | 42,023 | $13.0M | Reduce -0.1% |
| PFE Pfizer Inc. | 0.19% | 498,761 | $12.1M | Reduce -5.2% |
| IDXX Idexx Laboratories Inc. | 0.18% | 21,600 | $11.6M | Reduce -1.2% |
| CSX CSX Corp. | 0.17% | 335,819 | $11.0M | Reduce -1.3% |
| IEI iShares 3-7 Year Treasury Bo | 0.17% | 91,432 | $10.9M | Add +28.9% |
| VGSH Vanguard Short-Term Treasury | 0.15% | 164,777 | $9.7M | Reduce -3.9% |
| RSP Invesco S&P 500 Equal Weight | 0.15% | 52,307 | $9.5M | Reduce -55.1% |
| INTU Intuit Inc. | 0.13% | 10,791 | $8.5M | No change |
| BDX Becton Dickinson and Co. | 0.13% | 48,336 | $8.3M | Reduce -6.5% |
| SGOV iShares 0-3 Month Treasury B | 0.12% | 78,190 | $7.9M | New |
| OTIS Otis Worldwide Corp. | 0.12% | 77,736 | $7.7M | Reduce -27.4% |
| PM Philip Morris International | 0.12% | 41,440 | $7.5M | Reduce -0.1% |
| AMT American Tower Corp. | 0.12% | 33,811 | $7.5M | Reduce -0.3% |
| VTI VG Morningstar TS MKT ETF-US | 0.11% | 23,675 | $7.2M | Reduce -9.7% |
| KO The Coca-Cola Co. | 0.11% | 96,390 | $6.8M | Reduce -0.3% |
| SHW The Sherwin-Williams Co. | 0.10% | 19,228 | $6.6M | Reduce -5.5% |
| GE General Electric filed as GE AEROSPACE | 0.10% | 25,639 | $6.6M | Add +1.2% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.10% | 121,945 | $6.4M | No change |
| CARR Carrier Global Corp. | 0.10% | 86,910 | $6.4M | Reduce -1.7% |
| MDLZ Mondelez International Inc. Class A | 0.10% | 93,392 | $6.3M | Reduce -0.4% |
| CL Colgate-Palmolive Co. | 0.10% | 67,757 | $6.2M | Reduce -1.1% |
| IEF iShares 7-10 Year Treasury B | 0.10% | 63,890 | $6.1M | Add +50.9% |
| BX Blackstone Inc. | 0.10% | 40,478 | $6.1M | Reduce -10.0% |
| VIG Vanguard Dividend Apprec ETF | 0.09% | 29,004 | $5.9M | Add +11.8% |
| ITW Illinois Tool Works | 0.09% | 24,006 | $5.9M | Add +0.5% |
| APD Air Products & Chemicals Inc. | 0.09% | 20,376 | $5.7M | Reduce -0.8% |
| TRV The Travelers Cos Inc. | 0.09% | 21,068 | $5.6M | Reduce -1.6% |
| BILS SS Spdrb B 3-12M T-Bill ETF | 0.08% | 52,069 | $5.2M | Reduce -7.8% |
| EMR Emerson Electric Co. | 0.08% | 37,700 | $5.0M | Add +2.4% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $593K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| TYL Tyler Technologies Inc. | COM · principal | 1,000 | $593K | No change |
Total filed on the 13F, all lines: $6.3B.
Portfolio Sells Q1 2025 → Q2 2025
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -7.3% | 1.72% | −0.53 |
| AMGN Amgen Inc. | Reduce -31.2% | 0.66% | −0.53 |
| GOOG Alphabet Inc. Class C | Reduce -15.2% | 3.46% | −0.52 |
| ABBV Abbvie Inc. | Reduce -2.7% | 1.75% | −0.50 |
| UNH Unitedhealth Group Inc. | Reduce -82.5% | 0.04% | −0.41 |
| NXPI NXP Semiconductors NV | Reduce -93.4% | 0.03% | −0.35 |
| V Visa Inc. Class A | Reduce -1.7% | 2.26% | −0.26 |
| MA Mastercard Inc. Class A | Reduce -2.6% | 2.14% | −0.24 |
| XOM Exxon Mobil Corp. | Reduce -7.3% | 0.68% | −0.22 |
| IBDQ iShares Ibonds Dec 2025 Term | Reduce -5.1% | 1.24% | −0.21 |
| RSP Invesco S&P 500 Equal Weight | Reduce -55.1% | 0.15% | −0.20 |
| JNJ Johnson & Johnson | Reduce -1.8% | 0.86% | −0.19 |
| MCD McDonald's Corp. | Reduce -1.8% | 0.91% | −0.19 |
| LOW Lowe's Cos Inc. | Reduce -4.6% | 0.78% | −0.17 |
| PG The Procter & Gamble Co. | Reduce -3.5% | 0.55% | −0.13 |
| TJX TJX Companies Inc. | Reduce -2.7% | 0.94% | −0.12 |
| HPQ HP Inc. | Reduce -84.0% | 0.02% | −0.12 |
| MPC Marathon Petroleum Corp. | Reduce -13.7% | 0.84% | −0.11 |
| ESML iShares ESG Aware MSCI USA S | Reduce -99.3% | 0.00% | −0.10 |
| DHI D.R. Horton Inc. | Reduce -17.9% | 0.31% | −0.10 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -16.8% | 0.49% | −0.10 |
| AFL Aflac Inc. | Reduce -15.1% | 0.25% | −0.09 |
| MRK Merck & Co. Inc. | Reduce -6.4% | 0.25% | −0.08 |
| GOOGL Alphabet Inc. Class A | Reduce -8.7% | 1.28% | −0.08 |
| ABT Abbott Laboratories | Reduce -1.5% | 0.83% | −0.08 |
| CDW CDW Corp. | Reduce -8.3% | 0.93% | −0.08 |
| BDX Becton Dickinson and Co. | Reduce -6.5% | 0.13% | −0.08 |
| PEP Pepsico Inc. | Reduce -5.3% | 0.23% | −0.07 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Reduce -73.3% | 0.03% | −0.07 |
| OTIS Otis Worldwide Corp. | Reduce -27.4% | 0.12% | −0.07 |
| CAT Caterpillar Inc. | Reduce -11.4% | 0.85% | −0.05 |
| TYL Tyler Technologies Inc. | Reduce -0.5% | 0.58% | −0.05 |
| PFE Pfizer Inc. | Reduce -5.2% | 0.19% | −0.04 |
| BMY Bristol-Myers Squibb Co. | Reduce -7.7% | 0.06% | −0.04 |
| WEX Wex Inc. | Reduce -23.7% | 0.06% | −0.04 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -62.2% | 0.02% | −0.03 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -36.7% | 0.04% | −0.03 |
| GD General Dynamics Corp. | Reduce -1.5% | 0.60% | −0.03 |
| NSC Norfolk Southern Corp. | Reduce -42.5% | 0.03% | −0.03 |
| IJR iShares Core S&P Small-Cap E | Reduce -25.7% | 0.06% | −0.03 |
| CMI Cummins Inc. | Reduce -1.5% | 0.32% | −0.02 |
| DVN Devon Energy Corp. | Reduce -94.9% | 0.00% | −0.02 |
| VGSH Vanguard Short-Term Treasury | Reduce -3.9% | 0.15% | −0.02 |
| SCHJ Schwab 1-5 YR Corp. BND ETF | Reduce -27.8% | 0.04% | −0.02 |
| UNP Union Pacific Corp. | Reduce -13.3% | 0.07% | −0.02 |
| ADP Automatic Data Processing | Reduce -0.1% | 0.21% | −0.02 |
| SHW The Sherwin-Williams Co. | Reduce -5.5% | 0.10% | −0.02 |
| HYBB iShares BB Rated Corp. Bond | Reduce -54.0% | 0.01% | −0.02 |
| ADBE Adobe Inc. | Reduce -37.0% | 0.03% | −0.02 |
| GEHC GE Healthcare Technology | Reduce -28.3% | 0.03% | −0.02 |
Portfolio Buys Q1 2025 → Q2 2025
| MSFT Microsoft Corp. | Add +11.5% | 7.32% | +1.83 |
| NVDA Nvidia Corp. | Add +12.3% | 4.41% | +1.42 |
| LRCX Lam Research Corp. | Add +11.4% | 1.99% | +0.51 |
| META Meta Platforms Inc. Class A | Add +8.7% | 2.30% | +0.47 |
| JPM JPMorgan Chase & Co. | Add +16.9% | 2.05% | +0.41 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +4849.9% | 0.38% | +0.37 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +71.8% | 0.89% | +0.37 |
| LHX L3HARRIS Technologies Inc. | Add +7.4% | 2.15% | +0.30 |
| AMZN Amazon.com Inc. | Add +5.6% | 3.19% | +0.29 |
| NVT Nvent Electric PLC | Add +15.0% | 0.82% | +0.25 |
| LLY Eli Lilly & Co. | Add +88.1% | 0.50% | +0.19 |
| HUBB Hubbell Inc. | Add +4.6% | 1.22% | +0.17 |
| ASML ASML Holding NV-NY Reg SHS | Add +2.1% | 1.37% | +0.14 |
| SUSA iShares ESG Optimized MSCI U | Add +77.8% | 0.32% | +0.14 |
| DE Deere & Co. | Add +53.7% | 0.38% | +0.13 |
| SGOV iShares 0-3 Month Treasury B | New | 0.12% | +0.12 |
| IBTH iShares Ibonds Dec 2027 Term | Add +14.6% | 2.23% | +0.08 |
| FISV Fiserv Inc. | Add +101.0% | 0.24% | +0.07 |
| DOV Dover Corp. | Add +26.7% | 0.37% | +0.06 |
| IBDR iShares Ibonds Dec 2026 Term | Add +16.0% | 1.23% | +0.06 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +240.9% | 0.05% | +0.03 |
| IBM Intl Business Machines Corp. | Add +2.2% | 0.36% | +0.03 |
| IEF iShares 7-10 Year Treasury B | Add +50.9% | 0.10% | +0.03 |
| IEI iShares 3-7 Year Treasury Bo | Add +28.9% | 0.17% | +0.03 |
| IBTI iShares Ibonds Dec 2028 Term | Add +2706.1% | 0.02% | +0.02 |
| SPSM SS SPDR P S&P 600 Small Cap | Add +363.3% | 0.02% | +0.02 |
| COF Capital One Financial Corp. | Add +61.0% | 0.04% | +0.02 |
| BNDX Vanguard Total Intl Bond ETF | New | 0.02% | +0.02 |
| GE General Electric | Add +1.2% | 0.10% | +0.02 |
| NFLX Netflix Inc. | Add +7.6% | 0.05% | +0.01 |
| SPIB SS SPDR P Int C Corp. ETF | Add +27.5% | 0.07% | +0.01 |
| EMR Emerson Electric Co. | Add +2.4% | 0.08% | +0.01 |
| IBDT iShares Ibonds Dec 2028 ETF | Add +74.3% | 0.02% | +0.01 |
| VIG Vanguard Dividend Apprec ETF | Add +11.8% | 0.09% | +0.01 |
| ETN Eaton Corp. PLC | Add +11.2% | 0.02% | +0.00 |
| DELL Dell Technologies -C | Add +193.4% | 0.01% | +0.00 |
| JEPI JPMorgan Equity Premium Inco | Add +821.0% | 0.00% | +0.00 |
| IEFA iShares Core MSCI Eafe ETF | Add +27.4% | 0.02% | +0.00 |
| TSLA Tesla Inc. | Add +7.1% | 0.03% | +0.00 |
| CRM Salesforce Inc. | Add +23.7% | 0.03% | +0.00 |
| WMT Walmart Inc. | Add +0.1% | 0.44% | +0.00 |
| HAS Hasbro Inc. | Add +0.6% | 0.03% | +0.00 |
| ADI Analog Devices Inc. | Add +7.8% | 0.02% | +0.00 |
| SLV iShares Silver Trust | Add +4137.9% | 0.00% | +0.00 |
| MS Morgan Stanley | Add +5.6% | 0.02% | +0.00 |
| IBTJ iShares Ibonds Dec 2029 Term | New | 0.00% | +0.00 |
| PSLV Sprott Physical Silver Trust | New | 0.00% | +0.00 |
| MU Micron Technology Inc. | Add +37.5% | 0.01% | +0.00 |
| VRT Vertiv Holdings Co. Class A | Add +30.3% | 0.00% | +0.00 |
| QQQ Invesco QQQ Trust Series 1 | Add +2.5% | 0.03% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,136 | $7.5B | AAPL, AVGO, GOOG, MSFT, LRCX |
| Q1 2026 | 1,124 | $6.9B | AAPL, MSFT, AVGO, GOOG, NVDA |
| Q4 2025 | 1,144 | $7.1B | AAPL, MSFT, AVGO, GOOG, NVDA |
| Q3 2025 | 1,090 | $7.0B | MSFT, AAPL, AVGO, NVDA, GOOG |
| Q2 2025 | 996 | $6.3B | MSFT, AVGO, AAPL, NVDA, GOOG |
| Q1 2025 | 1,035 | $5.7B | AAPL, MSFT, AVGO, GOOG, NVDA |
| Q4 2024 | 1,032 | $5.9B | AAPL, AVGO, MSFT, GOOG, NVDA |
| Q3 2024 | 1,117 | $5.8B | AAPL, MSFT, AVGO, GOOG, NVDA |
| Q2 2024 | 993 | $5.5B | AAPL, MSFT, GOOG, AVGO, NVDA |
| Q1 2024 | 958 | $5.4B | MSFT, AAPL, GOOG, AVGO, BRK.B |