John G Ullman & Associates Inc.

Name: JOHN G ULLMAN & ASSOCIATES INC 13F holdings, Q1 2025
Creator: JOHN G ULLMAN & ASSOCIATES INC
Published: 2025-05-06

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 6, 2025), John G Ullman & Associates Inc. reported 170 stock positions worth $648.4 million. Its top holding was Emerson Electric (EMR) at 4.8% of the portfolio, followed by Corning (GLW, 4.0%) and Oge Energy (OGE, 3.7%). Compared with Q4 2024, it opened 7 new positions, sold out of 10, added to 33 and reduced 100. The biggest buy was American Tower (AMT, shares +15%) and the biggest sale Broadcom (AVGO, shares −2%).

Most Recent 13F: Q2 2026
Location: CORNING, NY
CIK: 0000919530
Portfolio Value: $648.4M (Q1 2025)
SEC Filing: 0000919530-25-000002 ↗ filed May 6, 2025

Holdings Value

Holdings 170 stocks · $648.4M


EMR Emerson Electric Co.	4.82%	285,244	$31.3M	Reduce -0.5%
GLW Corning Inc.	4.00%	565,932	$25.9M	Reduce -8.8%
OGE Oge Energy Corp.	3.69%	520,384	$23.9M	Reduce -0.9%
TSM Taiwan Semiconductor-SP ADR	3.56%	139,134	$23.1M	Reduce -0.1%
CSCO Cisco Systems Inc.	3.22%	337,965	$20.9M	Reduce -0.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	3.19%	83,285	$20.7M	Reduce -27.9%
NVS Novartis AG-Sponsored ADR	2.37%	138,123	$15.4M	Reduce -0.9%
TEL Te Connectivity PLC	2.28%	104,597	$14.8M	Reduce -0.6%
AVGO Broadcom Inc.	2.27%	87,990	$14.7M	Reduce -2.2%
AMZN Amazon.com Inc.	2.03%	69,142	$13.2M	Reduce -0.6%
XOM Exxon Mobil Corp.	1.97%	107,210	$12.8M	Reduce -0.6%
SLB SLB Ltd. filed as SCHLUMBERGER LTD	1.93%	299,088	$12.5M	Reduce -0.2%
MSFT Microsoft Corp.	1.87%	32,290	$12.1M	Add +1.0%
AMT American Tower Corp.	1.78%	53,132	$11.6M	Add +14.8%
WTRG Essential Utilities Inc.	1.59%	260,902	$10.3M	Reduce -7.5%
BMY Bristol-Myers Squibb Co.	1.46%	155,390	$9.5M	Reduce -0.2%
DIS The Walt Disney Co. filed as DISNEY WALT CO	1.31%	86,355	$8.5M	Reduce -0.8%
FISV Fiserv Inc.	1.30%	38,237	$8.4M	Reduce -0.8%
MRK Merck & Co. Inc.	1.30%	93,917	$8.4M	Reduce -2.6%
POR Portland General Electric Co.	1.24%	180,511	$8.1M	Add +41.5%
CACI Caci International Inc. Class A	1.15%	20,315	$7.5M	Add +40.6%
LNN Lindsay Corp.	1.15%	58,869	$7.4M	Reduce -0.8%
FLS Flowserve Corp.	1.09%	144,800	$7.1M	Reduce -1.2%
ES Eversource Energy	1.08%	113,002	$7.0M	Add +9.2%
BDX Becton Dickinson and Co.	1.04%	29,358	$6.7M	Add +11.8%
MDU Mdu Resources Group Inc.	1.03%	396,163	$6.7M	Reduce -0.4%
PFE Pfizer Inc.	1.02%	261,167	$6.6M	Reduce -6.4%
HON Honeywell International Inc.	0.99%	30,430	$6.4M	Reduce -0.9%
ASTE Astec Industries Inc.	0.99%	186,410	$6.4M	Add +14.6%
ITRI Itron Inc.	0.95%	58,997	$6.2M	Reduce -0.6%
GNRC Generac Holdings Inc.	0.95%	48,401	$6.1M	Reduce -2.1%
VMC Vulcan Materials Co.	0.94%	26,175	$6.1M	Add +1.2%
NJR New Jersey Resources Corp.	0.94%	123,660	$6.1M	Reduce -0.8%
GVA Granite Construction Inc.	0.92%	79,382	$6.0M	Reduce -0.4%
LGTY Logility Supply Chain Soluti	0.90%	410,145	$5.8M	Reduce -4.6%
D Dominion Energy Inc.	0.88%	102,246	$5.7M	Add +13.0%
SYY Sysco Corp.	0.87%	75,410	$5.7M	Add +14.6%
BE Bloom Energy Corp. Class A	0.86%	284,500	$5.6M	Reduce -0.9%
TMP Tompkins Financial Corp.	0.85%	87,684	$5.5M	Reduce -0.4%
KNF Knife River Corp.	0.81%	58,520	$5.3M	Reduce -0.2%
NXST Nexstar Media Group Inc.	0.77%	27,693	$5.0M	Reduce -1.2%
LOW Lowe's Cos Inc.	0.75%	20,975	$4.9M	Reduce -1.6%
ALB Albemarle Corp.	0.75%	67,733	$4.9M	Reduce -2.3%
JAZZ Jazz Pharmaceuticals PLC	0.75%	39,118	$4.9M	Reduce -1.6%
IDA Idacorp Inc.	0.72%	39,943	$4.6M	Reduce -0.1%
TMO Thermo Fisher Scientific Inc.	0.69%	8,943	$4.5M	Reduce -1.3%
GEHC GE Healthcare Technology	0.68%	54,394	$4.4M	Reduce -1.2%
EQT Eqt Corp.	0.68%	82,000	$4.4M	Reduce -1.2%
INTC Intel Corp.	0.66%	187,742	$4.3M	Reduce -4.7%
HRI Herc Holdings Inc. filed as HERC HLDGS INC	0.65%	31,438	$4.2M	Reduce -1.6%
VNM Vaneck Vietnam ETF	0.63%	327,457	$4.1M	Reduce -11.0%
REGN Regeneron Pharmaceuticals	0.63%	6,430	$4.1M	Add +94.0%
WDC Western Digital Corp.	0.63%	100,611	$4.1M	Add +7.6%
ABT Abbott Laboratories	0.61%	30,038	$4.0M	Add +0.0%
GRC Gorman-Rupp Co.	0.61%	112,433	$3.9M	Reduce -0.6%
STT State Street Corp.	0.60%	43,476	$3.9M	Reduce -0.8%
WTS Watts Water Technologies-A	0.59%	18,627	$3.8M	Reduce -0.5%
CRM Salesforce Inc.	0.57%	13,761	$3.7M	Add +1.7%
AAPL Apple Inc.	0.57%	16,583	$3.7M	Reduce -3.5%
VOO Vanguard S&P 500 ETF	0.56%	7,047	$3.6M	Reduce -14.8%
AZTA Azenta Inc.	0.55%	102,552	$3.6M	Reduce -8.3%
EA Electronic Arts Inc.	0.54%	24,250	$3.5M	Add +8.3%
ECG Everus Construction Group	0.53%	93,223	$3.5M	Reduce -4.7%
ZBH Zimmer Biomet Holdings Inc.	0.53%	30,150	$3.4M	Add +14.6%
GOOGL Alphabet Inc. Class A	0.51%	21,258	$3.3M	Add +999.7%
BKH Black Hills Corp.	0.50%	53,891	$3.3M	Reduce -3.1%
GSK GSK PLC-Spon ADR	0.50%	83,870	$3.2M	Reduce -1.4%
PEG Public Service Enterprise GP	0.50%	39,172	$3.2M	Reduce -0.5%
COHR Coherent Corp.	0.49%	49,325	$3.2M	Reduce -0.6%
LITE Lumentum Holdings Inc.	0.49%	50,548	$3.2M	Reduce -14.6%
SNOW Snowflake Inc.	0.46%	20,425	$3.0M	Reduce -1.2%
EHC Encompass Health Corp.	0.45%	29,050	$2.9M	Add +20.8%
ORCL Oracle Corp.	0.45%	20,755	$2.9M	No change
AMGN Amgen Inc.	0.45%	9,290	$2.9M	Reduce -0.8%
PYPL PayPal Holdings Inc.	0.45%	44,280	$2.9M	Reduce -1.6%
BAX Baxter International Inc.	0.44%	83,604	$2.9M	Add +86.4%
EXP Eagle Materials Inc.	0.44%	12,800	$2.8M	New
GE General Electric filed as GE AEROSPACE	0.42%	13,729	$2.7M	Reduce -0.6%
BCE Bce Inc.	0.38%	107,748	$2.5M	Reduce -41.3%
SO The Southern Co.	0.37%	26,103	$2.4M	Reduce -0.3%
LLY Eli Lilly & Co.	0.37%	2,883	$2.4M	Reduce -1.7%
CCK Crown Holdings Inc.	0.36%	26,441	$2.4M	Reduce -3.3%
UTHR United Therapeutics Corp.	0.35%	7,356	$2.3M	Add +0.0%
AVTR Avantor Inc.	0.34%	137,849	$2.2M	Reduce -3.3%
SOLV Solventum Corp.	0.34%	29,000	$2.2M	Reduce -1.5%
A Agilent Technologies Inc.	0.33%	18,025	$2.1M	Reduce -0.6%
VNT Vontier Corp.	0.32%	62,321	$2.0M	Reduce -0.6%
NEE Nextera Energy Inc.	0.29%	26,947	$1.9M	Add +1.1%
EQNR Equinor ASA-Spon ADR	0.29%	72,159	$1.9M	Add +580.8%
GOOG Alphabet Inc. Class C	0.29%	11,853	$1.9M	Add +542.8%
PBW Invesco Wilderhill Clean Ene	0.28%	116,869	$1.8M	Reduce -7.1%
SKBSY Skanska AB-SPN ADR	0.25%	74,100	$1.6M	Reduce -1.1%
BCV Bancroft Fund Ltd.	0.23%	85,344	$1.5M	Reduce -1.9%
WBS Webster Financial Corp.	0.23%	28,467	$1.5M	Reduce -0.8%
SNDK Sandisk Corp.	0.22%	30,404	$1.4M	Reduce -2.3%
STX Seagate Technology Holdings	0.21%	15,888	$1.3M	New
APTV Aptiv PLC	0.20%	21,900	$1.3M	Add +73.1%
OTTR Otter Tail Corp.	0.20%	15,950	$1.3M	Reduce -0.6%
WSBF Waterstone Financial Inc.	0.19%	92,711	$1.2M	Reduce -14.4%
VWO Vanguard Ftse Emerging Marke	0.18%	25,310	$1.1M	Reduce -1.9%

Show all 170 holdings

Portfolio Sells Q4 2024 → Q1 2025


AVGO Broadcom Inc.	Reduce -2.2%	2.27%	−0.80
SUM Summit Materials Inc. Class A	Sold out	0.00%	−0.77
IBM Intl Business Machines Corp.	Reduce -27.9%	3.19%	−0.54
TDC Teradata Corp.	Reduce -74.8%	0.12%	−0.51
TSM Taiwan Semiconductor-SP ADR	Reduce -0.1%	3.56%	−0.49
ECG Everus Construction Group	Reduce -4.7%	0.53%	−0.41
EMR Emerson Electric Co.	Reduce -0.5%	4.82%	−0.40
GLW Corning Inc.	Reduce -8.8%	4.00%	−0.35
ILMN Illumina Inc.	Reduce -78.6%	0.04%	−0.29
AZTA Azenta Inc.	Reduce -8.3%	0.55%	−0.27
LITE Lumentum Holdings Inc.	Reduce -14.6%	0.49%	−0.24
BCE Bce Inc.	Reduce -41.3%	0.38%	−0.24
HRI Herc Holdings Inc.	Reduce -1.6%	0.65%	−0.24
AMZN Amazon.com Inc.	Reduce -0.6%	2.03%	−0.22
COHR Coherent Corp.	Reduce -0.6%	0.49%	−0.20
GNRC Generac Holdings Inc.	Reduce -2.1%	0.95%	−0.18
ARCB Arcbest Corp.	Reduce -48.1%	0.12%	−0.17
VIAV Viavi Solutions Inc.	Sold out	0.00%	−0.15
FLS Flowserve Corp.	Reduce -1.2%	1.09%	−0.15
ALB Albemarle Corp.	Reduce -2.3%	0.75%	−0.13
PYPL PayPal Holdings Inc.	Reduce -1.6%	0.45%	−0.12
DIS The Walt Disney Co.	Reduce -0.8%	1.31%	−0.11
MRK Merck & Co. Inc.	Reduce -2.6%	1.30%	−0.11
GVA Granite Construction Inc.	Reduce -0.4%	0.92%	−0.11
AVTR Avantor Inc.	Reduce -3.3%	0.34%	−0.10
VOO Vanguard S&P 500 ETF	Reduce -14.8%	0.56%	−0.10
PBW Invesco Wilderhill Clean Ene	Reduce -7.1%	0.28%	−0.09
CFB Crossfirst Bankshares Inc.	Sold out	0.00%	−0.09
BE Bloom Energy Corp. Class A	Reduce -0.9%	0.86%	−0.08
PFE Pfizer Inc.	Reduce -6.4%	1.02%	−0.07
AAPL Apple Inc.	Reduce -3.5%	0.57%	−0.07
SWKS Skyworks Solutions Inc.	Sold out	0.00%	−0.06
KNF Knife River Corp.	Reduce -0.2%	0.81%	−0.06
CIEN Ciena Corp.	Reduce -2.3%	0.16%	−0.06
HLAN Heartland Banccorp	Sold out	0.00%	−0.05
CBWBF Canadian Western Bank	Sold out	0.00%	−0.04
QQQ Invesco QQQ Trust Series 1	Sold out	0.00%	−0.04
HAL Halliburton Co.	Reduce -28.1%	0.10%	−0.04
ADM Archer-Daniels-Midland Co.	Sold out	0.00%	−0.04
A Agilent Technologies Inc.	Reduce -0.6%	0.33%	−0.03
STT State Street Corp.	Reduce -0.8%	0.60%	−0.03
BSX Boston Scientific Corp.	Sold out	0.00%	−0.03
FTS Fortis Inc.	Sold out	0.00%	−0.03
TMP Tompkins Financial Corp.	Reduce -0.4%	0.85%	−0.03
HON Honeywell International Inc.	Reduce -0.9%	0.99%	−0.03
MTSI Macom Technology Solutions H	Reduce -5.0%	0.09%	−0.03
XRAY Dentsply Sirona Inc.	Reduce -14.4%	0.06%	−0.02
GRC Gorman-Rupp Co.	Reduce -0.6%	0.61%	−0.02
WSBF Waterstone Financial Inc.	Reduce -14.4%	0.19%	−0.02
MDU Mdu Resources Group Inc.	Reduce -0.4%	1.03%	−0.02

Portfolio Buys Q4 2024 → Q1 2025


AMT American Tower Corp.	Add +14.8%	1.78%	+0.53
GOOGL Alphabet Inc. Class A	Add +999.7%	0.51%	+0.45
EXP Eagle Materials Inc.	New	0.44%	+0.44
POR Portland General Electric Co.	Add +41.5%	1.24%	+0.42
CACI Caci International Inc. Class A	Add +40.6%	1.15%	+0.29
REGN Regeneron Pharmaceuticals	Add +94.0%	0.63%	+0.28
EQNR Equinor ASA-Spon ADR	Add +580.8%	0.29%	+0.26
BAX Baxter International Inc.	Add +86.4%	0.44%	+0.25
GOOG Alphabet Inc. Class C	Add +542.8%	0.29%	+0.23
ES Eversource Energy	Add +9.2%	1.08%	+0.21
STX Seagate Technology Holdings	New	0.21%	+0.21
ASTE Astec Industries Inc.	Add +14.6%	0.99%	+0.19
D Dominion Energy Inc.	Add +13.0%	0.88%	+0.17
BDX Becton Dickinson and Co.	Add +11.8%	1.04%	+0.16
APH Amphenol Corp. Class A	New	0.15%	+0.15
SYY Sysco Corp.	Add +14.6%	0.87%	+0.13
EHC Encompass Health Corp.	Add +20.8%	0.45%	+0.13
ZBH Zimmer Biomet Holdings Inc.	Add +14.6%	0.53%	+0.12
ABT Abbott Laboratories	Add +0.0%	0.61%	+0.11
APTV Aptiv PLC	Add +73.1%	0.20%	+0.09
BUSE First Busey Corp.	New	0.08%	+0.08
EA Electronic Arts Inc.	Add +8.3%	0.54%	+0.06
GILD Gilead Sciences Inc.	Add +34.1%	0.12%	+0.05
GABC German American Bancorp	New	0.05%	+0.05
NTIOF National Bank of Canada	New	0.04%	+0.04
IBB iShares Biotechnology ETF	New	0.04%	+0.04
BRK.B Berkshire Hathaway Inc. Class B	Add +1.4%	0.15%	+0.03
SHEL Shell PLC-ADR	Add +0.9%	0.12%	+0.02
AQN Algonquin Power & Utilities	Add +87.4%	0.03%	+0.02
NEE Nextera Energy Inc.	Add +1.1%	0.29%	+0.01
NWFL Norwood Financial Corp.	Add +18.1%	0.08%	+0.01
AOS Smith (a.o.) Corp.	Add +7.1%	0.09%	+0.01
GT Goodyear Tire & Rubber Co.	Add +9.1%	0.03%	+0.00
MRNA Moderna Inc.	Add +45.1%	0.07%	+0.00
OCFC Oceanfirst Financial Corp.	Add +0.4%	0.07%	−0.00
UTHR United Therapeutics Corp.	Add +0.0%	0.35%	−0.03
VMC Vulcan Materials Co.	Add +1.2%	0.94%	−0.04
CRM Salesforce Inc.	Add +1.7%	0.57%	−0.10
MSFT Microsoft Corp.	Add +1.0%	1.87%	−0.11
WDC Western Digital Corp.	Add +7.6%	0.63%	−0.19

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	181	$824.4M	GLW, TSM, CSCO, EMR, OGE
Q1 2026	174	$754.3M	GLW, TSM, EMR, CSCO, OGE
Q4 2025	179	$750.0M	TSM, EMR, GLW, CSCO, TEL
Q3 2025	173	$742.7M	TSM, EMR, GLW, AVGO, OGE
Q2 2025	174	$673.8M	EMR, TSM, GLW, IBM, AVGO
Q1 2025	170	$648.4M	EMR, GLW, OGE, TSM, CSCO
Q4 2024	172	$679.6M	EMR, GLW, TSM, IBM, OGE
Q3 2024	179	$695.5M	EMR, GLW, IBM, TSM, OGE
Q2 2024	179	$655.5M	EMR, GLW, TSM, IBM, OGE
Q1 2024	174	$651.8M	EMR, GLW, IBM, TSM, OGE