John G Ullman & Associates Inc.

Name: JOHN G ULLMAN & ASSOCIATES INC 13F holdings, Q4 2025
Creator: JOHN G ULLMAN & ASSOCIATES INC
Published: 2026-02-05

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

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 5, 2026), John G Ullman & Associates Inc. reported 179 stock positions worth $750.0 million. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 5.1% of the portfolio, followed by Emerson Electric (EMR, 4.9%) and Corning (GLW, 4.5%). Compared with Q3 2025, it opened 10 new positions, sold out of 5, added to 28 and reduced 93. The biggest buy was a new position in Keurig Dr Pepper (KDP) and the biggest sale Bloom Energy Class A (BE, shares −41%).

Most Recent 13F: Q2 2026
Location: CORNING, NY
CIK: 0000919530
Portfolio Value: $750.0M (Q4 2025)
SEC Filing: 0000919530-26-000001 ↗ filed Feb 5, 2026

Holdings Value

Holdings 179 stocks · $750.0M


TSM Taiwan Semiconductor-SP ADR	5.15%	127,067	$38.6M	Reduce -6.1%
EMR Emerson Electric Co.	4.91%	277,441	$36.8M	Reduce -1.5%
GLW Corning Inc.	4.48%	383,531	$33.6M	Reduce -6.3%
CSCO Cisco Systems Inc.	3.39%	329,810	$25.4M	Reduce -1.3%
TEL Te Connectivity PLC	3.00%	98,817	$22.5M	Reduce -3.3%
AVGO Broadcom Inc.	2.88%	62,445	$21.6M	Reduce -23.8%
OGE Oge Energy Corp.	2.84%	499,099	$21.3M	Reduce -1.8%
WTRG Essential Utilities Inc.	2.07%	405,450	$15.6M	Reduce -12.8%
AMZN Amazon.com Inc.	2.07%	67,287	$15.5M	Reduce -1.2%
MSFT Microsoft Corp.	2.02%	31,311	$15.1M	Reduce -2.0%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	1.92%	48,695	$14.4M	Reduce -28.4%
ES Eversource Energy	1.75%	194,800	$13.1M	Add +19.6%
XOM Exxon Mobil Corp.	1.69%	105,167	$12.7M	Reduce -1.5%
NEE Nextera Energy Inc.	1.65%	154,553	$12.4M	Reduce -1.3%
BE Bloom Energy Corp. Class A	1.54%	132,775	$11.5M	Reduce -41.0%
D Dominion Energy Inc.	1.51%	193,488	$11.3M	Add +7.2%
WDC Western Digital Corp.	1.48%	64,308	$11.1M	Reduce -15.4%
AMT American Tower Corp.	1.43%	61,218	$10.7M	Add +7.9%
MRK Merck & Co. Inc.	1.42%	101,322	$10.7M	Add +2.6%
POR Portland General Electric Co.	1.39%	217,784	$10.5M	Reduce -0.9%
SLB SLB Ltd. filed as SLB LIMITED	1.38%	270,620	$10.4M	Reduce -1.6%
CACI Caci International Inc. Class A	1.34%	18,924	$10.1M	Reduce -4.9%
LNN Lindsay Corp.	1.29%	82,300	$9.7M	Add +42.0%
FLS Flowserve Corp.	1.28%	138,300	$9.6M	Reduce -2.0%
GVA Granite Construction Inc.	1.16%	75,105	$8.7M	Reduce -3.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO	1.12%	74,109	$8.4M	Reduce -1.0%
BMY Bristol-Myers Squibb Co.	1.08%	149,940	$8.1M	Reduce -1.4%
GNRC Generac Holdings Inc.	1.05%	57,525	$7.8M	Reduce -0.6%
EQT Eqt Corp.	1.04%	145,150	$7.8M	Add +0.9%
ASTE Astec Industries Inc.	1.01%	175,676	$7.6M	Reduce -2.5%
MDU Mdu Resources Group Inc.	1.01%	389,420	$7.6M	Reduce -0.6%
VMC Vulcan Materials Co.	0.94%	24,834	$7.1M	Reduce -2.0%
GOOGL Alphabet Inc. Class A	0.92%	22,141	$6.9M	Reduce -0.8%
TMO Thermo Fisher Scientific Inc.	0.91%	11,825	$6.9M	Reduce -2.2%
INTC Intel Corp.	0.88%	178,589	$6.6M	Reduce -1.8%
ECG Everus Construction Group	0.87%	76,542	$6.5M	Reduce -5.4%
TMP Tompkins Financial Corp.	0.81%	83,343	$6.0M	Reduce -1.8%
EXP Eagle Materials Inc.	0.78%	28,330	$5.9M	Add +15.6%
JAZZ Jazz Pharmaceuticals PLC	0.78%	34,400	$5.8M	Reduce -2.8%
HON Honeywell International Inc.	0.77%	29,585	$5.8M	Reduce -1.3%
BCE Bce Inc.	0.74%	233,327	$5.6M	Add +86.5%
VNM Vaneck Vietnam ETF	0.74%	291,174	$5.6M	Reduce -2.8%
NJR New Jersey Resources Corp.	0.74%	120,094	$5.5M	Reduce -0.7%
NXST Nexstar Media Group Inc.	0.73%	26,875	$5.5M	Reduce -2.2%
ITRI Itron Inc.	0.73%	58,681	$5.4M	Add +1.2%
GRC Gorman-Rupp Co.	0.72%	113,581	$5.4M	Reduce -1.2%
STT State Street Corp.	0.72%	41,618	$5.4M	Reduce -2.3%
GOOG Alphabet Inc. Class C	0.70%	16,813	$5.3M	Reduce -0.9%
COHR Coherent Corp.	0.69%	27,850	$5.1M	Reduce -26.2%
PFE Pfizer Inc.	0.68%	206,065	$5.1M	Add +35.0%
SYY Sysco Corp.	0.68%	69,185	$5.1M	Reduce -1.5%
LOW Lowe's Cos Inc.	0.64%	20,055	$4.8M	Reduce -0.9%
IDA Idacorp Inc.	0.64%	38,079	$4.8M	Reduce -0.8%
AAPL Apple Inc.	0.61%	16,758	$4.6M	Reduce -1.8%
KDP Keurig Dr Pepper Inc.	0.59%	158,600	$4.4M	New
SNOW Snowflake Inc.	0.57%	19,441	$4.3M	Reduce -3.1%
EA Electronic Arts Inc.	0.56%	20,450	$4.2M	Reduce -3.4%
ADBE Adobe Inc.	0.55%	11,845	$4.1M	Add +82.0%
VOO Vanguard S&P 500 ETF	0.55%	6,606	$4.1M	Reduce -3.4%
KNF Knife River Corp.	0.54%	57,292	$4.0M	Reduce -1.1%
SNDK Sandisk Corp.	0.53%	16,655	$4.0M	Reduce -40.9%
GEHC GE Healthcare Technology	0.52%	47,759	$3.9M	Reduce -0.7%
GSK GSK PLC-Spon ADR	0.52%	78,940	$3.9M	Reduce -2.5%
CIEN Ciena Corp.	0.51%	16,500	$3.9M	Reduce -1.2%
ABT Abbott Laboratories	0.50%	29,763	$3.7M	Reduce -1.6%
ORCL Oracle Corp.	0.48%	18,473	$3.6M	Add +18.3%
BKH Black Hills Corp.	0.48%	51,391	$3.6M	Reduce -1.7%
UTHR United Therapeutics Corp.	0.45%	6,955	$3.4M	Reduce -1.8%
WTS Watts Water Technologies-A	0.42%	11,425	$3.2M	Reduce -2.4%
CRM Salesforce Inc.	0.42%	11,850	$3.1M	Reduce -2.7%
PEG Public Service Enterprise GP	0.41%	38,022	$3.1M	Reduce -0.5%
EQNR Equinor ASA-Spon ADR	0.41%	128,809	$3.0M	Add +58.7%
EHC Encompass Health Corp.	0.39%	27,450	$2.9M	Reduce -3.0%
AMGN Amgen Inc.	0.38%	8,800	$2.9M	Reduce -2.2%
TWLO Twilio Inc. Class A	0.36%	19,216	$2.7M	Reduce -2.7%
LLY Eli Lilly & Co.	0.35%	2,430	$2.6M	Reduce -14.5%
CCK Crown Holdings Inc.	0.34%	25,114	$2.6M	Reduce -2.4%
HAL Halliburton Co.	0.32%	84,008	$2.4M	Add +5.4%
GEV GE Vernova Inc.	0.30%	3,479	$2.3M	Reduce -4.4%
SO The Southern Co.	0.30%	25,980	$2.3M	No change
VNT Vontier Corp.	0.30%	60,421	$2.2M	Reduce -1.6%
PYPL PayPal Holdings Inc.	0.30%	38,430	$2.2M	Reduce -2.8%
SOLV Solventum Corp.	0.29%	27,248	$2.2M	Reduce -2.3%
LITE Lumentum Holdings Inc.	0.28%	5,760	$2.1M	Reduce -84.7%
MANH Manhattan Associates Inc.	0.28%	12,150	$2.1M	New
A Agilent Technologies Inc.	0.28%	15,175	$2.1M	Reduce -11.1%
OTTR Otter Tail Corp.	0.27%	24,950	$2.0M	Add +20.8%
SKBSY Skanska AB-SPN ADR	0.27%	72,766	$2.0M	No change
AZTA Azenta Inc.	0.26%	58,118	$1.9M	Add +10.4%
ZBH Zimmer Biomet Holdings Inc.	0.24%	20,200	$1.8M	Reduce -11.0%
WBS Webster Financial Corp.	0.23%	27,700	$1.7M	Reduce -0.5%
REGN Regeneron Pharmaceuticals	0.19%	1,830	$1.4M	Reduce -6.4%
PLNT Planet Fitness Inc. Class A	0.18%	12,400	$1.3M	New
VWO Vanguard Ftse Emerging Marke	0.17%	23,800	$1.3M	Reduce -5.6%
AGX Argan Inc.	0.17%	4,000	$1.3M	Reduce -2.4%
HRNNF Hydro One Ltd.	0.16%	29,700	$1.2M	No change
YORW York Water Co. filed as YORK WTR CO	0.16%	37,050	$1.2M	New
EBMT Eagle Bancorp Montana Inc.	0.15%	56,435	$1.1M	Reduce -1.2%
HAE Haemonetics Corp.	0.15%	13,600	$1.1M	Add +13.8%
BKNG Booking Holdings Inc.	0.14%	202	$1.1M	New

Show all 179 holdings

Portfolio Sells Q3 2025 → Q4 2025


BE Bloom Energy Corp. Class A	Reduce -41.0%	1.54%	−1.03
AVGO Broadcom Inc.	Reduce -23.8%	2.88%	−0.76
IBM Intl Business Machines Corp.	Reduce -28.4%	1.92%	−0.66
FISV Fiserv Inc.	Reduce -80.4%	0.07%	−0.59
LITE Lumentum Holdings Inc.	Reduce -84.7%	0.28%	−0.54
WTRG Essential Utilities Inc.	Reduce -12.8%	2.07%	−0.42
OGE Oge Energy Corp.	Reduce -1.8%	2.84%	−0.32
GNRC Generac Holdings Inc.	Reduce -0.6%	1.05%	−0.26
MSFT Microsoft Corp.	Reduce -2.0%	2.02%	−0.21
BAX Baxter International Inc.	Sold out	0.00%	−0.16
ASTE Astec Industries Inc.	Reduce -2.5%	1.01%	−0.15
VMC Vulcan Materials Co.	Reduce -2.0%	0.94%	−0.11
SYY Sysco Corp.	Reduce -1.5%	0.68%	−0.10
EHC Encompass Health Corp.	Reduce -3.0%	0.39%	−0.10
HON Honeywell International Inc.	Reduce -1.3%	0.77%	−0.08
EMR Emerson Electric Co.	Reduce -1.5%	4.91%	−0.06
KNF Knife River Corp.	Reduce -1.1%	0.54%	−0.06
ECG Everus Construction Group	Reduce -5.4%	0.87%	−0.06
ZBH Zimmer Biomet Holdings Inc.	Reduce -11.0%	0.24%	−0.06
PYPL PayPal Holdings Inc.	Reduce -2.8%	0.30%	−0.06
ABT Abbott Laboratories	Reduce -1.6%	0.50%	−0.05
VNT Vontier Corp.	Reduce -1.6%	0.30%	−0.05
NJR New Jersey Resources Corp.	Reduce -0.7%	0.74%	−0.05
BDX Becton Dickinson and Co.	Reduce -39.8%	0.07%	−0.04
GLW Corning Inc.	Reduce -6.3%	4.48%	−0.04
SNOW Snowflake Inc.	Reduce -3.1%	0.57%	−0.04
XRAY Dentsply Sirona Inc.	Sold out	0.00%	−0.04
IDA Idacorp Inc.	Reduce -0.8%	0.64%	−0.04
LOW Lowe's Cos Inc.	Reduce -0.9%	0.64%	−0.04
DIS The Walt Disney Co.	Reduce -1.0%	1.12%	−0.03
RSP Invesco S&P 500 Equal Weight	Sold out	0.00%	−0.03
VZ Verizon Communications Inc.	Sold out	0.00%	−0.03
AVTR Avantor Inc.	Sold out	0.00%	−0.03
TEL Te Connectivity PLC	Reduce -3.3%	3.00%	−0.02
NVS Novartis AG-Sponsored ADR	Reduce -48.7%	0.03%	−0.02
PEG Public Service Enterprise GP	Reduce -0.5%	0.41%	−0.02
A Agilent Technologies Inc.	Reduce -11.1%	0.28%	−0.02
WTS Watts Water Technologies-A	Reduce -2.4%	0.42%	−0.02
EA Electronic Arts Inc.	Reduce -3.4%	0.56%	−0.02
VWO Vanguard Ftse Emerging Marke	Reduce -5.6%	0.17%	−0.01
VOO Vanguard S&P 500 ETF	Reduce -3.4%	0.55%	−0.01
SOLS Solstice Adv Materials Inc.	Reduce -21.2%	0.04%	−0.01
KO The Coca-Cola Co.	Reduce -16.1%	0.05%	−0.01
ASRV Ameriserv Financial Inc.	Reduce -29.4%	0.02%	−0.01
ITW Illinois Tool Works	Reduce -1.1%	0.07%	−0.01
AGCO Agco Corp.	Reduce -4.7%	0.06%	−0.01
NXST Nexstar Media Group Inc.	Reduce -2.2%	0.73%	−0.00
BUSE First Busey Corp.	Reduce -6.3%	0.07%	−0.00
BP BP PLC-Spons ADR	Reduce -1.1%	0.10%	−0.00
MRNA Moderna Inc.	Reduce -10.9%	0.08%	+0.00

Portfolio Buys Q3 2025 → Q4 2025


KDP Keurig Dr Pepper Inc.	New	0.59%	+0.59
BCE Bce Inc.	Add +86.5%	0.74%	+0.35
MRK Merck & Co. Inc.	Add +2.6%	1.42%	+0.31
MANH Manhattan Associates Inc.	New	0.28%	+0.28
ADBE Adobe Inc.	Add +82.0%	0.55%	+0.24
LNN Lindsay Corp.	Add +42.0%	1.29%	+0.20
ES Eversource Energy	Add +19.6%	1.75%	+0.19
PLNT Planet Fitness Inc. Class A	New	0.18%	+0.18
PFE Pfizer Inc.	Add +35.0%	0.68%	+0.16
YORW York Water Co.	New	0.16%	+0.16
BKNG Booking Holdings Inc.	New	0.14%	+0.14
EQNR Equinor ASA-Spon ADR	Add +58.7%	0.41%	+0.14
HAE Haemonetics Corp.	Add +13.8%	0.15%	+0.07
ILMN Illumina Inc.	Add +21.3%	0.14%	+0.05
AZTA Azenta Inc.	Add +10.4%	0.26%	+0.05
HAL Halliburton Co.	Add +5.4%	0.32%	+0.05
OTTR Otter Tail Corp.	Add +20.8%	0.27%	+0.04
NVDA Nvidia Corp.	New	0.04%	+0.04
ALB Albemarle Corp.	New	0.04%	+0.04
XLU St Sr Utl SL SE SPDR ETF-Usd	Add +48.2%	0.12%	+0.04
APH Amphenol Corp. Class A	New	0.03%	+0.03
JPM JPMorgan Chase & Co.	New	0.03%	+0.03
FTS Fortis Inc.	New	0.03%	+0.03
D Dominion Energy Inc.	Add +7.2%	1.51%	+0.03
WSBF Waterstone Financial Inc.	Add +11.9%	0.14%	+0.02
AQN Algonquin Power & Utilities	Add +16.0%	0.07%	+0.02
DGX Quest Diagnostics Inc.	Add +73.4%	0.04%	+0.02
EXP Eagle Materials Inc.	Add +15.6%	0.78%	+0.01
GE General Electric	Add +6.8%	0.06%	+0.00
GS Goldman Sachs Group Inc.	Add +1.5%	0.03%	+0.00
BRK.B Berkshire Hathaway Inc. Class B	Add +0.3%	0.13%	−0.00
META Meta Platforms Inc. Class A	Add +6.7%	0.03%	−0.00
WEC WEC Energy Group Inc.	Add +4.1%	0.04%	−0.00
DUK Duke Energy Corp.	Add +1.2%	0.10%	−0.01
EQT Eqt Corp.	Add +0.9%	1.04%	−0.02
AMT American Tower Corp.	Add +7.9%	1.43%	−0.04
ORCL Oracle Corp.	Add +18.3%	0.48%	−0.11
ITRI Itron Inc.	Add +1.2%	0.73%	−0.25

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