John G Ullman & Associates Inc.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 29, 2025), John G Ullman & Associates Inc. reported 174 stock positions worth $673.8 million. Its top holding was Emerson Electric (EMR) at 5.6% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 4.7%) and Corning (GLW, 4.4%). Compared with Q1 2025, it opened 9 new positions, sold out of 5, added to 23 and reduced 97. The biggest buy was Generac (GNRC, shares +20%) and the biggest sale Becton Dickinson and (BDX, shares −86%).

Most Recent 13F
Q2 2026
Location
CORNING, NY
CIK
0000919530
Portfolio Value
$673.8M (Q2 2025)
SEC Filing
0000919530-25-000003 ↗ filed Jul 29, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $651.8M Q1 2024 Q2 2024: $655.5M Q2 2024 Q3 2024: $695.5M Q3 2024 Q4 2024: $679.6M Q4 2024 Q1 2025: $648.4M Q1 2025 Q2 2025: $673.8M $673.8M Q2 2025 Q3 2025: $742.7M Q3 2025 Q4 2025: $750.0M Q4 2025 Q1 2026: $754.3M Q1 2026 Q2 2026: $824.4M Q2 2026

Holdings 174 stocks · $673.8M

EMR Emerson Electric Co. 5.62% 283,961 $37.9M Reduce -0.5%
TSM Taiwan Semiconductor-SP ADR 4.66% 138,692 $31.4M Reduce -0.3%
GLW Corning Inc. 4.37% 560,239 $29.5M Reduce -1.0%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 3.62% 82,735 $24.4M Reduce -0.7%
AVGO Broadcom Inc. 3.58% 87,515 $24.1M Reduce -0.5%
CSCO Cisco Systems Inc. 3.46% 336,265 $23.3M Reduce -0.5%
OGE Oge Energy Corp. 3.39% 514,468 $22.8M Reduce -1.1%
TEL Te Connectivity PLC 2.60% 103,914 $17.5M Reduce -0.7%
NVS Novartis AG-Sponsored ADR 2.47% 137,407 $16.6M Reduce -0.5%
MSFT Microsoft Corp. 2.37% 32,148 $16.0M Reduce -0.4%
AMZN Amazon.com Inc. 2.24% 68,798 $15.1M Reduce -0.5%
AMT American Tower Corp. 1.74% 52,982 $11.7M Reduce -0.3%
XOM Exxon Mobil Corp. 1.71% 107,041 $11.5M Reduce -0.2%
WTRG Essential Utilities Inc. 1.47% 266,002 $9.9M Add +1.9%
CACI Caci International Inc. Class A 1.43% 20,232 $9.6M Reduce -0.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.41% 76,379 $9.5M Reduce -11.6%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 1.38% 274,187 $9.3M Reduce -8.3%
LNN Lindsay Corp. 1.25% 58,186 $8.4M Reduce -1.2%
GNRC Generac Holdings Inc. 1.24% 58,301 $8.3M Add +20.4%
ITRI Itron Inc. 1.14% 58,488 $7.7M Reduce -0.9%
ASTE Astec Industries Inc. 1.14% 183,992 $7.7M Reduce -1.3%
POR Portland General Electric Co. 1.12% 185,936 $7.6M Add +3.0%
FLS Flowserve Corp. 1.11% 143,500 $7.5M Reduce -0.9%
MRK Merck & Co. Inc. 1.11% 94,313 $7.5M Add +0.4%
GVA Granite Construction Inc. 1.10% 79,282 $7.4M Reduce -0.1%
ES Eversource Energy 1.06% 112,702 $7.2M Reduce -0.3%
BMY Bristol-Myers Squibb Co. 1.06% 154,644 $7.2M Reduce -0.5%
HON Honeywell International Inc. 1.04% 30,186 $7.0M Reduce -0.8%
BE Bloom Energy Corp. Class A 1.00% 282,700 $6.8M Reduce -0.6%
VMC Vulcan Materials Co. 1.00% 25,775 $6.7M Reduce -1.5%
MDU Mdu Resources Group Inc. 0.98% 394,297 $6.6M Reduce -0.5%
FISV Fiserv Inc. 0.94% 36,782 $6.3M Reduce -3.8%
WDC Western Digital Corp. 0.88% 92,543 $5.9M Reduce -8.0%
D Dominion Energy Inc. 0.87% 103,182 $5.8M Add +0.9%
ECG Everus Construction Group 0.85% 90,473 $5.7M Reduce -3.0%
NJR New Jersey Resources Corp. 0.81% 122,327 $5.5M Reduce -1.1%
SYY Sysco Corp. 0.81% 72,276 $5.5M Reduce -4.2%
TMP Tompkins Financial Corp. 0.81% 86,504 $5.4M Reduce -1.4%
LITE Lumentum Holdings Inc. 0.71% 50,248 $4.8M Reduce -0.6%
NXST Nexstar Media Group Inc. 0.71% 27,593 $4.8M Reduce -0.4%
KNF Knife River Corp. 0.70% 57,992 $4.7M Reduce -0.9%
EQT Eqt Corp. 0.70% 81,100 $4.7M Reduce -1.1%
TMO Thermo Fisher Scientific Inc. 0.70% 11,614 $4.7M Add +29.9%
IDA Idacorp Inc. 0.68% 39,618 $4.6M Reduce -0.8%
STT State Street Corp. 0.68% 42,993 $4.6M Reduce -1.1%
LOW Lowe's Cos Inc. 0.68% 20,555 $4.6M Reduce -2.0%
ORCL Oracle Corp. 0.67% 20,655 $4.5M Reduce -0.5%
SNOW Snowflake Inc. 0.67% 20,125 $4.5M Reduce -1.5%
COHR Coherent Corp. 0.65% 48,825 $4.4M Reduce -1.0%
VNM Vaneck Vietnam ETF 0.64% 314,390 $4.3M Reduce -4.0%
GRC Gorman-Rupp Co. 0.61% 111,783 $4.1M Reduce -0.6%
ABT Abbott Laboratories 0.61% 30,038 $4.1M No change
INTC Intel Corp. 0.60% 181,250 $4.1M Reduce -3.5%
GOOGL Alphabet Inc. Class A 0.59% 22,708 $4.0M Add +6.8%
HRI Herc Holdings Inc. filed as HERC HLDGS INC 0.59% 30,080 $4.0M Reduce -4.3%
VOO Vanguard S&P 500 ETF 0.58% 6,923 $3.9M Reduce -1.8%
GEHC GE Healthcare Technology 0.57% 51,787 $3.8M Reduce -4.8%
JAZZ Jazz Pharmaceuticals PLC 0.57% 35,910 $3.8M Reduce -8.2%
EA Electronic Arts Inc. 0.55% 23,250 $3.7M Reduce -4.1%
PFE Pfizer Inc. 0.54% 150,703 $3.7M Reduce -42.3%
CRM Salesforce Inc. 0.54% 13,269 $3.6M Reduce -3.6%
GE General Electric filed as GE AEROSPACE 0.52% 13,729 $3.5M No change
AAPL Apple Inc. 0.52% 17,183 $3.5M Add +3.6%
EHC Encompass Health Corp. 0.52% 28,600 $3.5M Reduce -1.6%
PEG Public Service Enterprise GP 0.49% 39,122 $3.3M Reduce -0.1%
EXP Eagle Materials Inc. 0.47% 15,775 $3.2M Add +23.2%
GSK GSK PLC-Spon ADR 0.47% 82,100 $3.2M Reduce -2.1%
PYPL PayPal Holdings Inc. 0.46% 41,280 $3.1M Reduce -6.8%
BKH Black Hills Corp. 0.44% 52,941 $3.0M Reduce -1.8%
WTS Watts Water Technologies-A 0.44% 11,977 $2.9M Reduce -35.7%
GOOG Alphabet Inc. Class C 0.40% 15,178 $2.7M Add +28.1%
CCK Crown Holdings Inc. 0.40% 26,041 $2.7M Reduce -1.5%
AMGN Amgen Inc. 0.38% 9,071 $2.5M Reduce -2.4%
SO The Southern Co. 0.36% 26,092 $2.4M Reduce -0.0%
ZBH Zimmer Biomet Holdings Inc. 0.35% 25,850 $2.4M Reduce -14.3%
BCE Bce Inc. 0.34% 104,815 $2.3M Reduce -2.7%
VNT Vontier Corp. 0.34% 61,921 $2.3M Reduce -0.6%
LLY Eli Lilly & Co. 0.33% 2,883 $2.2M No change
SOLV Solventum Corp. 0.32% 28,500 $2.2M Reduce -1.7%
BAX Baxter International Inc. 0.32% 70,829 $2.1M Reduce -15.3%
UTHR United Therapeutics Corp. 0.31% 7,281 $2.1M Reduce -1.0%
A Agilent Technologies Inc. 0.30% 17,075 $2.0M Reduce -5.3%
GEV GE Vernova Inc. 0.29% 3,664 $1.9M No change
EQNR Equinor ASA-Spon ADR 0.28% 76,359 $1.9M Add +5.8%
NEE Nextera Energy Inc. 0.28% 26,947 $1.9M No change
SKBSY Skanska AB-SPN ADR 0.25% 74,000 $1.7M Reduce -0.1%
BCV Bancroft Fund Ltd. 0.23% 82,913 $1.6M Reduce -2.9%
WBS Webster Financial Corp. 0.23% 28,333 $1.5M Reduce -0.5%
AZTA Azenta Inc. 0.22% 48,645 $1.5M Reduce -52.6%
SNDK Sandisk Corp. 0.20% 29,992 $1.4M Reduce -1.4%
CIEN Ciena Corp. 0.20% 16,700 $1.4M No change
HAL Halliburton Co. 0.19% 63,708 $1.3M Add +158.4%
VWO Vanguard Ftse Emerging Marke 0.19% 25,300 $1.3M Reduce -0.0%
OTTR Otter Tail Corp. 0.18% 15,950 $1.2M No change
ACVA Acv Auctions Inc. Class A 0.16% 66,284 $1.1M No change
HRNNF Hydro One Ltd. 0.16% 29,700 $1.1M No change
EBMT Eagle Bancorp Montana Inc. 0.14% 58,512 $975K Reduce -2.5%
CVX Chevron Corp. 0.14% 6,469 $926K Add +1.2%
BRK.B Berkshire Hathaway Inc. Class B 0.14% 1,879 $913K Add +4.5%
AGX Argan Inc. 0.13% 4,100 $904K No change
MTSI Macom Technology Solutions H 0.12% 5,700 $817K No change
DUK Duke Energy Corp. 0.12% 6,832 $806K Reduce -2.1%
JCI Johnson Controls Internation 0.12% 7,574 $800K No change
CEG Constellation Energy 0.12% 2,465 $796K No change
SHEL Shell PLC-ADR 0.12% 11,100 $782K Add +0.9%
GILD Gilead Sciences Inc. 0.12% 7,019 $778K Reduce -0.0%
TXN Texas Instruments Inc. 0.11% 3,597 $747K Reduce -18.7%
REGN Regeneron Pharmaceuticals 0.11% 1,405 $738K Reduce -78.2%
EMA Emera Inc. 0.11% 15,800 $723K No change
RBB RBB Bancorp 0.11% 41,752 $719K Add +0.5%
BDX Becton Dickinson and Co. 0.11% 4,125 $711K Reduce -86.0%
WSBF Waterstone Financial Inc. 0.10% 51,100 $706K Reduce -44.9%
LNT Alliant Energy Corp. 0.10% 11,300 $683K No change
TYG Tortoise Energy Infrastruct 0.10% 15,241 $669K No change
BP BP PLC-Spons ADR 0.10% 21,900 $655K No change
LH Labcorp Holdings Inc. 0.09% 2,310 $606K No change
AOS Smith (a.o.) Corp. 0.09% 9,200 $603K Add +1.1%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.09% 7,057 $576K No change
APH Amphenol Corp. Class A 0.08% 5,775 $570K Reduce -61.2%
MMM 3M Co. 0.08% 3,700 $563K No change
ITW Illinois Tool Works 0.08% 2,200 $544K No change
BUSE First Busey Corp. 0.08% 23,295 $533K Reduce -6.2%
FELE Franklin Electric Co. Inc. 0.07% 5,400 $485K No change
OCFC Oceanfirst Financial Corp. 0.07% 27,200 $479K Add +9.2%
PANW Palo Alto Networks Inc. 0.07% 2,256 $462K Add +15.3%
PSX Phillips 66 0.07% 3,850 $459K No change
MRNA Moderna Inc. 0.07% 16,100 $444K Add +7.7%
AGCO Agco Corp. 0.07% 4,300 $444K No change
VTI VG Morningstar TS MKT ETF-US 0.06% 1,354 $412K Add +14.7%
MPC Marathon Petroleum Corp. 0.06% 2,463 $409K No change
CRUS Cirrus Logic Inc. 0.06% 3,900 $407K No change
SHW The Sherwin-Williams Co. 0.06% 1,150 $395K No change
ILMN Illumina Inc. 0.06% 4,100 $391K Add +13.9%
KO The Coca-Cola Co. 0.06% 5,492 $389K Reduce -0.2%
APTV Aptiv PLC 0.06% 5,600 $382K Reduce -74.4%
AEP American Electric Power 0.05% 3,469 $360K Reduce -3.1%
ITT Itt Inc. 0.05% 2,295 $360K No change
NWFL Norwood Financial Corp. 0.05% 13,600 $351K Reduce -38.7%
NTIOF National Bank of Canada 0.05% 3,330 $343K No change
MU Micron Technology Inc. 0.05% 2,763 $341K Reduce -15.3%
TDC Teradata Corp. 0.05% 15,100 $337K Reduce -56.2%
EEMV iShares MSCI Emg MKT Min Vol 0.05% 5,350 $336K No change
XYL Xylem Inc. 0.05% 2,580 $334K No change
AQN Algonquin Power & Utilities 0.05% 56,100 $321K Add +30.2%
GABC German American Bancorp 0.05% 8,190 $315K No change
ETN Eaton Corp. PLC 0.05% 868 $310K No change
IQV Iqvia Holdings Inc. 0.04% 1,900 $299K No change
VGT Vanguard Info Tech ETF 0.04% 445 $295K No change
ROP Roper Technologies Inc. 0.04% 490 $278K No change
PHO Invesco Water Resources ETF 0.04% 3,920 $274K No change
ACM Aecom 0.04% 2,350 $265K No change
WEC WEC Energy Group Inc. 0.04% 2,466 $257K Reduce -0.6%
KRE SS SPDR S&P Regional Bank 0.04% 4,300 $255K No change
XRAY Dentsply Sirona Inc. 0.04% 15,800 $251K Reduce -38.0%
GM General Motors Co. 0.04% 5,050 $249K No change
TPC Tutor Perini Corp. 0.03% 5,000 $234K New
META Meta Platforms Inc. Class A 0.03% 315 $232K New
CRH CRH PLC-Sponsored ADR 0.03% 2,500 $230K No change
PM Philip Morris International 0.03% 1,197 $218K New
FE Firstenergy Corp. 0.03% 5,400 $217K No change
RHHBY Roche Holdings Ltd.-Spons ADR 0.03% 5,300 $216K Reduce -14.5%
IBB iShares Biotechnology ETF 0.03% 1,700 $215K Reduce -5.6%
MOS The Mosaic Co. 0.03% 5,750 $210K New
VZ Verizon Communications Inc. 0.03% 4,832 $209K Reduce -1.0%
QQQ Invesco QQQ Trust Series 1 0.03% 379 $209K New
FLR Fluor Corp. 0.03% 4,000 $205K New
ASRV Ameriserv Financial Inc. 0.03% 67,226 $204K Reduce -70.8%
RSP Invesco S&P 500 Equal Weight 0.03% 1,109 $202K New
BSX Boston Scientific Corp. 0.03% 1,874 $201K New
DGX Quest Diagnostics Inc. 0.03% 1,114 $200K New
GT Goodyear Tire & Rubber Co. 0.03% 18,000 $187K No change
MXF Mexico Fund Inc. 0.03% 10,600 $186K No change
AVTR Avantor Inc. 0.02% 11,400 $153K Reduce -91.7%
AVALON ADVANCED MATERIALS IN 0.00% 18,750 $416 No change

Portfolio Sells Q1 2025 → Q2 2025

BDX Becton Dickinson and Co. Reduce -86.0% 0.11% −0.93
LGTY Logility Supply Chain Soluti Sold out 0.00% −0.90
ALB Albemarle Corp. Sold out 0.00% −0.75
SLB SLB Ltd. Reduce -8.3% 1.38% −0.55
REGN Regeneron Pharmaceuticals Reduce -78.2% 0.11% −0.52
PFE Pfizer Inc. Reduce -42.3% 0.54% −0.48
BMY Bristol-Myers Squibb Co. Reduce -0.5% 1.06% −0.40
FISV Fiserv Inc. Reduce -3.8% 0.94% −0.36
AZTA Azenta Inc. Reduce -52.6% 0.22% −0.33
AVTR Avantor Inc. Reduce -91.7% 0.02% −0.32
OGE Oge Energy Corp. Reduce -1.1% 3.39% −0.30
PBW Invesco Wilderhill Clean Ene Sold out 0.00% −0.28
XOM Exxon Mobil Corp. Reduce -0.2% 1.71% −0.25
STX Seagate Technology Holdings Sold out 0.00% −0.21
JAZZ Jazz Pharmaceuticals PLC Reduce -8.2% 0.57% −0.18
ZBH Zimmer Biomet Holdings Inc. Reduce -14.3% 0.35% −0.18
WTS Watts Water Technologies-A Reduce -35.7% 0.44% −0.15
APTV Aptiv PLC Reduce -74.4% 0.06% −0.14
BAX Baxter International Inc. Reduce -15.3% 0.32% −0.12
NJR New Jersey Resources Corp. Reduce -1.1% 0.81% −0.12
ARCB Arcbest Corp. Sold out 0.00% −0.12
KNF Knife River Corp. Reduce -0.9% 0.70% −0.11
GEHC GE Healthcare Technology Reduce -4.8% 0.57% −0.11
WSBF Waterstone Financial Inc. Reduce -44.9% 0.10% −0.09
LOW Lowe's Cos Inc. Reduce -2.0% 0.68% −0.08
AMGN Amgen Inc. Reduce -2.4% 0.38% −0.07
TDC Teradata Corp. Reduce -56.2% 0.05% −0.07
APH Amphenol Corp. Class A Reduce -61.2% 0.08% −0.07
BKH Black Hills Corp. Reduce -1.8% 0.44% −0.06
HRI Herc Holdings Inc. Reduce -4.3% 0.59% −0.06
SYY Sysco Corp. Reduce -4.2% 0.81% −0.06
MDU Mdu Resources Group Inc. Reduce -0.5% 0.98% −0.06
NXST Nexstar Media Group Inc. Reduce -0.4% 0.71% −0.06
ASRV Ameriserv Financial Inc. Reduce -70.8% 0.03% −0.06
INTC Intel Corp. Reduce -3.5% 0.60% −0.06
TMP Tompkins Financial Corp. Reduce -1.4% 0.81% −0.05
AMT American Tower Corp. Reduce -0.3% 1.74% −0.05
UTHR United Therapeutics Corp. Reduce -1.0% 0.31% −0.04
IDA Idacorp Inc. Reduce -0.8% 0.68% −0.04
BCE Bce Inc. Reduce -2.7% 0.34% −0.04
GSK GSK PLC-Spon ADR Reduce -2.1% 0.47% −0.03
CRM Salesforce Inc. Reduce -3.6% 0.54% −0.03
NWFL Norwood Financial Corp. Reduce -38.7% 0.05% −0.03
A Agilent Technologies Inc. Reduce -5.3% 0.30% −0.03
XRAY Dentsply Sirona Inc. Reduce -38.0% 0.04% −0.02
SNDK Sandisk Corp. Reduce -1.4% 0.20% −0.02
SOLV Solventum Corp. Reduce -1.7% 0.32% −0.02
ES Eversource Energy Reduce -0.3% 1.06% −0.02
SO The Southern Co. Reduce -0.0% 0.36% −0.01
TXN Texas Instruments Inc. Reduce -18.7% 0.11% −0.01

Portfolio Buys Q1 2025 → Q2 2025

GNRC Generac Holdings Inc. Add +20.4% 1.24% +0.29
GOOG Alphabet Inc. Class C Add +28.1% 0.40% +0.11
HAL Halliburton Co. Add +158.4% 0.19% +0.10
GOOGL Alphabet Inc. Class A Add +6.8% 0.59% +0.09
EXP Eagle Materials Inc. Add +23.2% 0.47% +0.04
TPC Tutor Perini Corp. New 0.03% +0.03
META Meta Platforms Inc. Class A New 0.03% +0.03
PM Philip Morris International New 0.03% +0.03
MOS The Mosaic Co. New 0.03% +0.03
QQQ Invesco QQQ Trust Series 1 New 0.03% +0.03
FLR Fluor Corp. New 0.03% +0.03
BSX Boston Scientific Corp. New 0.03% +0.03
RSP Invesco S&P 500 Equal Weight New 0.03% +0.03
DGX Quest Diagnostics Inc. New 0.03% +0.03
PANW Palo Alto Networks Inc. Add +15.3% 0.07% +0.02
ILMN Illumina Inc. Add +13.9% 0.06% +0.01
AQN Algonquin Power & Utilities Add +30.2% 0.05% +0.01
TMO Thermo Fisher Scientific Inc. Add +29.9% 0.70% +0.01
VTI VG Morningstar TS MKT ETF-US Add +14.7% 0.06% +0.01
OCFC Oceanfirst Financial Corp. Add +9.2% 0.07% +0.01
RBB RBB Bancorp Add +0.5% 0.11% +0.00
MRNA Moderna Inc. Add +7.7% 0.07% +0.00
AOS Smith (a.o.) Corp. Add +1.1% 0.09% −0.00
SHEL Shell PLC-ADR Add +0.9% 0.12% −0.01
EQNR Equinor ASA-Spon ADR Add +5.8% 0.28% −0.01
BRK.B Berkshire Hathaway Inc. Class B Add +4.5% 0.14% −0.01
D Dominion Energy Inc. Add +0.9% 0.87% −0.02
CVX Chevron Corp. Add +1.2% 0.14% −0.03
AAPL Apple Inc. Add +3.6% 0.52% −0.04
POR Portland General Electric Co. Add +3.0% 1.12% −0.12
WTRG Essential Utilities Inc. Add +1.9% 1.47% −0.12
MRK Merck & Co. Inc. Add +0.4% 1.11% −0.19

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 181$824.4MGLW, TSM, CSCO, EMR, OGE
Q1 2026 174$754.3MGLW, TSM, EMR, CSCO, OGE
Q4 2025 179$750.0MTSM, EMR, GLW, CSCO, TEL
Q3 2025 173$742.7MTSM, EMR, GLW, AVGO, OGE
Q2 2025 174$673.8MEMR, TSM, GLW, IBM, AVGO
Q1 2025 170$648.4MEMR, GLW, OGE, TSM, CSCO
Q4 2024 172$679.6MEMR, GLW, TSM, IBM, OGE
Q3 2024 179$695.5MEMR, GLW, IBM, TSM, OGE
Q2 2024 179$655.5MEMR, GLW, TSM, IBM, OGE
Q1 2024 174$651.8MEMR, GLW, IBM, TSM, OGE