HM Payson & Co.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 17, 2025), HM Payson & Co. reported 1,090 stock positions worth $7.0 billion. Its top holding was Microsoft (MSFT) at 6.9% of the portfolio, followed by Apple (AAPL, 6.5%) and Broadcom (AVGO, 6.2%). Compared with Q2 2025, it opened 127 new positions, sold out of 33, added to 272 and reduced 199. The biggest buy was Invesco S&P 500 Equal Weight (RSP, shares +404%) and the biggest sale Accenture Class A (ACN, shares −9%).
- Most Recent 13F
- Q2 2026
- Location
- PORTLAND, ME
- CIK
- 0000928052
- Portfolio Value
- $7.0B (Q3 2025)
- SEC Filing
- 0000928052-25-000004 ↗ filed Oct 17, 2025
Holdings Value
Holdings 1,090 stocks · $7.0B
| MSFT Microsoft Corp. | 6.88% | 923,990 | $478.6M | Reduce -0.6% |
| AAPL Apple Inc. | 6.51% | 1,777,400 | $452.6M | Reduce -0.5% |
| AVGO Broadcom Inc. | 6.20% | 1,306,739 | $431.1M | Reduce -5.0% |
| NVDA Nvidia Corp. | 4.70% | 1,753,521 | $327.2M | Reduce -0.5% |
| GOOG Alphabet Inc. Class C | 4.25% | 1,212,629 | $295.3M | Reduce -1.6% |
| AMZN Amazon.com Inc. | 2.91% | 922,932 | $202.6M | Add +0.4% |
| LRCX Lam Research Corp. | 2.49% | 1,292,706 | $173.1M | Reduce -0.0% |
| IBTH iShares Ibonds Dec 2027 Term | 2.20% | 6,799,561 | $153.1M | Add +8.6% |
| META Meta Platforms Inc. Class A | 2.09% | 197,714 | $145.2M | Add +0.6% |
| JPM JPMorgan Chase & Co. | 2.06% | 453,814 | $143.1M | Add +1.6% |
| ABBV Abbvie Inc. | 1.97% | 592,430 | $137.2M | Reduce -0.5% |
| MA Mastercard Inc. Class A | 1.95% | 238,021 | $135.4M | Reduce -1.0% |
| V Visa Inc. Class A | 1.92% | 391,870 | $133.8M | Reduce -2.4% |
| LHX L3HARRIS Technologies Inc. | 1.92% | 437,410 | $133.6M | Reduce -19.1% |
| IBTG iShares Ibonds Dec 2026 Term | 1.82% | 5,513,732 | $126.5M | Add +9.1% |
| IBTF iShares Ibonds Dec 2025 Term | 1.73% | 5,143,296 | $120.2M | Add +13.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.59% | 219,501 | $110.4M | Reduce -1.6% |
| HD Home Depot Inc. | 1.58% | 271,522 | $110.0M | Add +0.1% |
| GOOGL Alphabet Inc. Class A | 1.58% | 451,634 | $109.8M | Reduce -1.4% |
| AME Ametek Inc. | 1.53% | 565,255 | $106.3M | Add +0.1% |
| AZO AutoZone Inc. | 1.47% | 23,871 | $102.4M | Reduce -1.0% |
| TMO Thermo Fisher Scientific Inc. | 1.47% | 210,963 | $102.3M | Add +2.4% |
| ASML ASML Holding NV-NY Reg SHS | 1.37% | 98,631 | $95.5M | Reduce -8.9% |
| IBDQ iShares Ibonds Dec 2025 Term | 1.27% | 3,507,777 | $88.4M | Add +12.4% |
| IBDS Ishrs Ibnds Dec 27 Corp. ETF | 1.26% | 3,586,205 | $87.3M | Add +10.3% |
| IBDR iShares Ibonds Dec 2026 Term | 1.24% | 3,559,963 | $86.5M | Add +11.4% |
| ACN Accenture PLC Class A | 1.11% | 311,979 | $76.9M | Reduce -9.4% |
| ORCL Oracle Corp. | 1.02% | 251,018 | $70.6M | Reduce -0.9% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.00% | 481,708 | $69.6M | Reduce -0.3% |
| JNJ Johnson & Johnson | 0.95% | 354,632 | $65.8M | Add +0.3% |
| HUBB Hubbell Inc. | 0.94% | 152,006 | $65.4M | Reduce -19.6% |
| MCD McDonald's Corp. | 0.88% | 201,521 | $61.2M | Add +2.5% |
| MPC Marathon Petroleum Corp. | 0.88% | 315,988 | $60.9M | Reduce -1.5% |
| SPGI S&P Global Inc. | 0.87% | 123,708 | $60.2M | Reduce -1.3% |
| CAT Caterpillar Inc. | 0.86% | 125,093 | $59.7M | Reduce -9.4% |
| NVT Nvent Electric PLC | 0.84% | 593,580 | $58.6M | Reduce -15.9% |
| LOW Lowe's Cos Inc. | 0.80% | 221,313 | $55.6M | Reduce -0.1% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.79% | 700,160 | $54.9M | Reduce -9.2% |
| ABT Abbott Laboratories | 0.74% | 383,690 | $51.4M | Reduce -0.5% |
| CDW CDW Corp. | 0.72% | 314,556 | $50.1M | Reduce -4.5% |
| RSP Invesco S&P 500 Equal Weight | 0.72% | 263,647 | $50.0M | Add +404.0% |
| AON Aon PLC Class A | 0.68% | 133,021 | $47.4M | Reduce -0.4% |
| GD General Dynamics Corp. | 0.63% | 128,433 | $43.8M | Reduce -1.2% |
| AMGN Amgen Inc. | 0.60% | 148,914 | $42.0M | Reduce -0.7% |
| CSL Carlisle Cos Inc. | 0.56% | 117,810 | $38.8M | Add +117710.0% |
| XOM Exxon Mobil Corp. | 0.54% | 334,326 | $37.7M | Reduce -16.6% |
| PG The Procter & Gamble Co. | 0.50% | 225,101 | $34.6M | Add +2.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.48% | 50,331 | $33.5M | Reduce -0.1% |
| DHR Danaher Corp. | 0.48% | 168,704 | $33.4M | Add +12.3% |
| TYL Tyler Technologies Inc. | 0.46% | 61,552 | $32.2M | Reduce -0.5% |
| RTX RTX Corp. | 0.45% | 185,066 | $31.0M | Reduce -0.9% |
| LLY Eli Lilly & Co. | 0.44% | 40,032 | $30.5M | Reduce -0.3% |
| WMT Walmart Inc. | 0.41% | 278,674 | $28.7M | Reduce -1.9% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.41% | 38 | $28.7M | No change |
| AXP American Express Co. | 0.38% | 79,243 | $26.3M | Reduce -0.7% |
| CMI Cummins Inc. | 0.37% | 60,259 | $25.5M | Reduce -2.7% |
| CVX Chevron Corp. | 0.36% | 162,414 | $25.2M | Reduce -30.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.35% | 86,788 | $24.5M | Add +12.2% |
| DHI D.R. Horton Inc. | 0.35% | 142,195 | $24.1M | Reduce -5.0% |
| SUSA iShares ESG Optimized MSCI U | 0.32% | 161,986 | $22.0M | Add +2.0% |
| DE Deere & Co. | 0.31% | 47,445 | $21.7M | Reduce -0.6% |
| PH Parker Hannifin Corp. | 0.31% | 28,536 | $21.6M | Add +0.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.29% | 396,762 | $20.5M | Reduce -1.2% |
| WFC Wells Fargo & Co. | 0.26% | 218,704 | $18.3M | Add +409.9% |
| TSM Taiwan Semiconductor-SP ADR | 0.24% | 59,220 | $16.5M | Reduce -18.4% |
| AFL Aflac Inc. | 0.23% | 146,142 | $16.3M | Reduce -2.6% |
| DOV Dover Corp. | 0.23% | 97,575 | $16.3M | Reduce -22.8% |
| MRK Merck & Co. Inc. | 0.23% | 191,190 | $16.0M | Reduce -3.1% |
| PEP Pepsico Inc. | 0.23% | 112,496 | $15.8M | Add +4.4% |
| CSCO Cisco Systems Inc. | 0.21% | 211,616 | $14.5M | Reduce -2.3% |
| VIG Vanguard Dividend Apprec ETF | 0.21% | 67,031 | $14.5M | Add +131.1% |
| IDXX Idexx Laboratories Inc. | 0.20% | 22,145 | $14.1M | Add +2.5% |
| TXN Texas Instruments Inc. | 0.19% | 71,566 | $13.1M | Reduce -4.0% |
| ADP Automatic Data Processing | 0.18% | 41,848 | $12.3M | Reduce -0.4% |
| PFE Pfizer Inc. | 0.17% | 475,557 | $12.1M | Reduce -4.7% |
| IEI iShares 3-7 Year Treasury Bo | 0.17% | 97,633 | $11.7M | Add +6.8% |
| CSX CSX Corp. | 0.17% | 324,906 | $11.5M | Reduce -3.3% |
| DPZ Domino's Pizza Inc. | 0.16% | 25,712 | $11.1M | Reduce -19.6% |
| FISV Fiserv Inc. | 0.15% | 79,874 | $10.3M | Reduce -9.0% |
| VGSH Vanguard Short-Term Treasury | 0.14% | 170,007 | $10.0M | Add +3.2% |
| ETN Eaton Corp. PLC | 0.13% | 24,278 | $9.1M | Add +605.4% |
| BDX Becton Dickinson and Co. | 0.13% | 47,061 | $8.8M | Reduce -2.6% |
| SGOV iShares 0-3 Month Treasury B | 0.12% | 84,229 | $8.5M | Add +7.7% |
| PM Philip Morris International | 0.12% | 51,486 | $8.4M | Add +24.2% |
| VTI VG Morningstar TS MKT ETF-US | 0.11% | 23,863 | $7.8M | Add +0.8% |
| GE General Electric filed as GE AEROSPACE | 0.11% | 24,806 | $7.5M | Reduce -3.3% |
| INTU Intuit Inc. | 0.11% | 10,791 | $7.4M | No change |
| BX Blackstone Inc. | 0.10% | 39,678 | $6.8M | Reduce -2.0% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.10% | 121,945 | $6.7M | No change |
| SHW The Sherwin-Williams Co. | 0.10% | 19,194 | $6.6M | Reduce -0.2% |
| AMT American Tower Corp. | 0.09% | 33,813 | $6.5M | Add +0.0% |
| KO The Coca-Cola Co. | 0.09% | 95,650 | $6.3M | Reduce -0.8% |
| SPIB SS SPDR P Int C Corp. ETF | 0.09% | 184,922 | $6.3M | Add +31.1% |
| ITW Illinois Tool Works | 0.09% | 24,006 | $6.3M | No change |
| IEF iShares 7-10 Year Treasury B | 0.09% | 63,890 | $6.2M | No change |
| OTIS Otis Worldwide Corp. | 0.09% | 65,726 | $6.0M | Reduce -15.4% |
| MDLZ Mondelez International Inc. Class A | 0.08% | 94,546 | $5.9M | Add +1.2% |
| PSX Phillips 66 | 0.08% | 42,464 | $5.8M | Add +10.9% |
| TRV The Travelers Cos Inc. | 0.08% | 20,568 | $5.7M | Reduce -2.4% |
| MMM 3M Co. | 0.08% | 35,360 | $5.5M | Add +42.4% |
Portfolio Sells Q2 2025 → Q3 2025
| ACN Accenture PLC Class A | Reduce -9.4% | 1.11% | −0.52 |
| MSFT Microsoft Corp. | Reduce -0.6% | 6.88% | −0.44 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -99.3% | 0.00% | −0.38 |
| V Visa Inc. Class A | Reduce -2.4% | 1.92% | −0.33 |
| HUBB Hubbell Inc. | Reduce -19.6% | 0.94% | −0.28 |
| LHX L3HARRIS Technologies Inc. | Reduce -19.1% | 1.92% | −0.23 |
| CDW CDW Corp. | Reduce -4.5% | 0.72% | −0.21 |
| MA Mastercard Inc. Class A | Reduce -1.0% | 1.95% | −0.19 |
| SPGI S&P Global Inc. | Reduce -1.3% | 0.87% | −0.18 |
| CVX Chevron Corp. | Reduce -30.6% | 0.36% | −0.17 |
| XOM Exxon Mobil Corp. | Reduce -16.6% | 0.54% | −0.14 |
| DOV Dover Corp. | Reduce -22.8% | 0.23% | −0.13 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.6% | 1.59% | −0.13 |
| TYL Tyler Technologies Inc. | Reduce -0.5% | 0.46% | −0.12 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Reduce -9.2% | 0.79% | −0.10 |
| FISV Fiserv Inc. | Reduce -9.0% | 0.15% | −0.09 |
| ABT Abbott Laboratories | Reduce -0.5% | 0.74% | −0.09 |
| DE Deere & Co. | Reduce -0.6% | 0.31% | −0.07 |
| AON Aon PLC Class A | Reduce -0.4% | 0.68% | −0.07 |
| DPZ Domino's Pizza Inc. | Reduce -19.6% | 0.16% | −0.07 |
| AMGN Amgen Inc. | Reduce -0.7% | 0.60% | −0.06 |
| LLY Eli Lilly & Co. | Reduce -0.3% | 0.44% | −0.06 |
| TXN Texas Instruments Inc. | Reduce -4.0% | 0.19% | −0.06 |
| AGZ iShares Agency Bond ETF | Reduce -99.8% | 0.00% | −0.05 |
| SCHJ Schwab 1-5 YR Corp. BND ETF | Sold out | 0.00% | −0.04 |
| OTIS Otis Worldwide Corp. | Reduce -15.4% | 0.09% | −0.04 |
| CSCO Cisco Systems Inc. | Reduce -2.3% | 0.21% | −0.03 |
| ADP Automatic Data Processing | Reduce -0.4% | 0.18% | −0.03 |
| CARR Carrier Global Corp. | Reduce -2.7% | 0.07% | −0.03 |
| WMT Walmart Inc. | Reduce -1.9% | 0.41% | −0.03 |
| AXP American Express Co. | Reduce -0.7% | 0.38% | −0.02 |
| CL Colgate-Palmolive Co. | Reduce -3.6% | 0.08% | −0.02 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -18.4% | 0.24% | −0.02 |
| PFE Pfizer Inc. | Reduce -4.7% | 0.17% | −0.02 |
| KO The Coca-Cola Co. | Reduce -0.8% | 0.09% | −0.02 |
| MRK Merck & Co. Inc. | Reduce -3.1% | 0.23% | −0.02 |
| AFL Aflac Inc. | Reduce -2.6% | 0.23% | −0.02 |
| CWST Casella Waste Systems Inc. Class A | Reduce -16.1% | 0.03% | −0.02 |
| ISRG Intuitive Surgical Inc. | Reduce -0.5% | 0.04% | −0.01 |
| HYBB iShares BB Rated Corp. Bond | Sold out | 0.00% | −0.01 |
| APD Air Products & Chemicals Inc. | Reduce -3.2% | 0.08% | −0.01 |
| BILS SS Spdrb B 3-12M T-Bill ETF | Reduce -8.1% | 0.07% | −0.01 |
| UNH Unitedhealth Group Inc. | Reduce -31.2% | 0.03% | −0.01 |
| SYK Stryker Corp. | Reduce -0.6% | 0.07% | −0.01 |
| COST Costco Wholesale Corp. | Reduce -7.7% | 0.04% | −0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -0.1% | 0.48% | −0.01 |
| GEHC GE Healthcare Technology | Reduce -32.0% | 0.02% | −0.01 |
| BWX SS SPDR BB Intl Treasury BD | Sold out | 0.00% | −0.01 |
| STZ Constellation Brands Inc. Class A | Reduce -84.2% | 0.00% | −0.01 |
| CRM Salesforce Inc. | Reduce -18.2% | 0.02% | −0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| RSP Invesco S&P 500 Equal Weight | Add +404.0% | 0.72% | +0.57 |
| CSL Carlisle Cos Inc. | Add +117710.0% | 0.56% | +0.56 |
| WFC Wells Fargo & Co. | Add +409.9% | 0.26% | +0.21 |
| TMO Thermo Fisher Scientific Inc. | Add +2.4% | 1.47% | +0.15 |
| VIG Vanguard Dividend Apprec ETF | Add +131.1% | 0.21% | +0.11 |
| ETN Eaton Corp. PLC | Add +605.4% | 0.13% | +0.11 |
| JNJ Johnson & Johnson | Add +0.3% | 0.95% | +0.09 |
| IBTF iShares Ibonds Dec 2025 Term | Add +13.8% | 1.73% | +0.06 |
| SPSM SS SPDR P S&P 600 Small Cap | Add +156.7% | 0.06% | +0.04 |
| IBDU iShares Ibonds Dec 2029 Term | Add +929.3% | 0.04% | +0.04 |
| BNDX Vanguard Total Intl Bond ETF | Add +210.3% | 0.05% | +0.03 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +73.3% | 0.07% | +0.03 |
| IBDQ iShares Ibonds Dec 2025 Term | Add +12.4% | 1.27% | +0.03 |
| IBDV iShares Ibonds Dec 2030 Corp. | New | 0.02% | +0.02 |
| IDXX Idexx Laboratories Inc. | Add +2.5% | 0.20% | +0.02 |
| MMM 3M Co. | Add +42.4% | 0.08% | +0.02 |
| NVS Novartis AG-Sponsored ADR | Add +306.6% | 0.02% | +0.02 |
| IBDR iShares Ibonds Dec 2026 Term | Add +11.4% | 1.24% | +0.02 |
| KMB Kimberly-Clark Corp. | Add +100.0% | 0.04% | +0.02 |
| SPIB SS SPDR P Int C Corp. ETF | Add +31.1% | 0.09% | +0.02 |
| ED Consolidated Edison Inc. | Add +836.1% | 0.02% | +0.01 |
| COP Conocophillips | Add +37.3% | 0.05% | +0.01 |
| DHR Danaher Corp. | Add +12.3% | 0.48% | +0.01 |
| PSX Phillips 66 | Add +10.9% | 0.08% | +0.01 |
| SHEL Shell PLC-ADR | Add +306.1% | 0.01% | +0.01 |
| VYM Vanguard High DVD Yield ETF | Add +58.6% | 0.03% | +0.01 |
| D Dominion Energy Inc. | Add +109.8% | 0.02% | +0.01 |
| HD Home Depot Inc. | Add +0.1% | 1.58% | +0.01 |
| JPM JPMorgan Chase & Co. | Add +1.6% | 2.06% | +0.01 |
| IBHF iShares Ibond 2026 HY & Inc. | New | 0.01% | +0.01 |
| DJCO Daily Journal Corp. | New | 0.01% | +0.01 |
| BTI British American Tob-SP ADR | New | 0.01% | +0.01 |
| GLD SPDR Gold Shares | Add +30.2% | 0.02% | +0.01 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +18.7% | 0.07% | +0.01 |
| IBDS Ishrs Ibnds Dec 27 Corp. ETF | Add +10.3% | 1.26% | +0.00 |
| T AT&T Inc. | Add +52.8% | 0.02% | +0.00 |
| PHYS Sprott Physical Gold Trust | Add +634.8% | 0.01% | +0.00 |
| SLB SLB Ltd. | Add +85.7% | 0.01% | +0.00 |
| CME Cme Group Inc. | Add +107.9% | 0.01% | +0.00 |
| VWO Vanguard Ftse Emerging Marke | Add +8.8% | 0.05% | +0.00 |
| CLSK Cleanspark Inc. | New | 0.00% | +0.00 |
| NOC Northrop Grumman Corp. | Add +1.6% | 0.03% | +0.00 |
| IBTI iShares Ibonds Dec 2028 Term | Add +25.0% | 0.03% | +0.00 |
| VYMI Vanguard Int High DVD YLD Inc. | New | 0.00% | +0.00 |
| BKH Black Hills Corp. | New | 0.00% | +0.00 |
| QQQ Invesco QQQ Trust Series 1 | Add +11.9% | 0.03% | +0.00 |
| BNY Bank of New York Mellon Corp. | Add +12.8% | 0.02% | +0.00 |
| ARCC Ares Capital Corp. | Add +161.1% | 0.00% | +0.00 |
| AIZ Assurant Inc. | Add +5773.3% | 0.00% | +0.00 |
| LNT Alliant Energy Corp. | Add +179.3% | 0.00% | +0.00 |
Notes & Other Activity Q2 2025 → Q3 2025
| TYL Tyler Technologies Inc. | COM · principal | Sold out | 1,000 | $593Kbefore exit |
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 | 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 |