John G Ullman & Associates Inc.

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

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 Q2 2025 Q3 2025: $742.7M Q3 2025 Q4 2025: $750.0M $750.0M Q4 2025 Q1 2026: $754.3M Q1 2026 Q2 2026: $824.4M Q2 2026

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
WSBF Waterstone Financial Inc. 0.14% 63,248 $1.0M Add +11.9%
ILMN Illumina Inc. 0.14% 7,825 $1.0M Add +21.3%
CVX Chevron Corp. 0.13% 6,411 $977K No change
JCI Johnson Controls Internation 0.13% 8,099 $970K Reduce -1.5%
BRK.B Berkshire Hathaway Inc. Class B 0.13% 1,884 $947K Add +0.3%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.12% 20,914 $893K Add +48.2%
MTSI Macom Technology Solutions H 0.12% 5,200 $891K Reduce -8.8%
CEG Constellation Energy 0.11% 2,432 $859K Reduce -1.3%
GILD Gilead Sciences Inc. 0.11% 6,995 $859K No change
MU Micron Technology Inc. 0.11% 2,963 $846K No change
RBB RBB Bancorp 0.11% 40,550 $837K Reduce -0.7%
SHEL Shell PLC-ADR 0.11% 11,100 $816K No change
EMA Emera Inc. 0.10% 15,800 $779K No change
TDC Teradata Corp. 0.10% 25,400 $773K Reduce -3.0%
DUK Duke Energy Corp. 0.10% 6,480 $760K Add +1.2%
BP BP PLC-Spons ADR 0.10% 21,700 $754K Reduce -1.1%
LNT Alliant Energy Corp. 0.10% 11,300 $735K No change
AOS Smith (a.o.) Corp. 0.09% 9,700 $649K No change
MMM 3M Co. 0.08% 3,900 $624K No change
MRNA Moderna Inc. 0.08% 21,150 $624K Reduce -10.9%
TYG Tortoise Energy Infrastruct 0.08% 15,241 $623K No change
APTV Aptiv PLC 0.08% 8,150 $620K No change
TXN Texas Instruments Inc. 0.08% 3,491 $606K No change
LH Labcorp Holdings Inc. 0.07% 2,210 $554K No change
ITW Illinois Tool Works 0.07% 2,175 $536K Reduce -1.1%
ACVA Acv Auctions Inc. Class A 0.07% 66,284 $532K No change
AQN Algonquin Power & Utilities 0.07% 86,250 $530K Add +16.0%
BDX Becton Dickinson and Co. 0.07% 2,725 $529K Reduce -39.8%
FELE Franklin Electric Co. Inc. 0.07% 5,400 $516K No change
BUSE First Busey Corp. 0.07% 21,480 $511K Reduce -6.3%
FISV Fiserv Inc. 0.07% 7,450 $500K Reduce -80.4%
PSX Phillips 66 0.07% 3,850 $497K No change
OCFC Oceanfirst Financial Corp. 0.06% 27,000 $485K No change
GE General Electric filed as GE AEROSPACE 0.06% 1,550 $477K Add +6.8%
CRUS Cirrus Logic Inc. 0.06% 3,900 $462K No change
VTI VG Morningstar TS MKT ETF-US 0.06% 1,354 $454K No change
IQV Iqvia Holdings Inc. 0.06% 1,900 $428K No change
AGCO Agco Corp. 0.06% 4,100 $428K Reduce -4.7%
NTIOF National Bank of Canada filed as BANQUE NATIONALE DU CANADA 0.06% 3,330 $419K No change
GM General Motors Co. 0.05% 5,050 $411K No change
ITT Itt Inc. 0.05% 2,295 $398K No change
AEP American Electric Power 0.05% 3,390 $391K No change
XYL Xylem Inc. 0.05% 2,830 $385K No change
PANW Palo Alto Networks Inc. 0.05% 2,082 $384K No change
SHW The Sherwin-Williams Co. 0.05% 1,150 $373K No change
KO The Coca-Cola Co. 0.05% 5,217 $365K Reduce -16.1%
NWFL Norwood Financial Corp. 0.05% 12,600 $353K No change
STX Seagate Technology Holdings 0.05% 1,238 $341K Reduce -7.5%
EEMV iShares MSCI Emg MKT Min Vol 0.05% 5,300 $339K No change
VGT Vanguard Info Tech ETF 0.04% 445 $335K No change
DGX Quest Diagnostics Inc. 0.04% 1,932 $335K Add +73.4%
TPC Tutor Perini Corp. 0.04% 5,000 $335K No change
GABC German American Bancorp 0.04% 8,190 $321K No change
CRH CRH PLC-Sponsored ADR 0.04% 2,500 $312K No change
NVDA Nvidia Corp. 0.04% 1,596 $298K New
ALB Albemarle Corp. 0.04% 2,100 $297K New
IBB iShares Biotechnology ETF 0.04% 1,700 $287K No change
SOLS Solstice Adv Materials Inc. 0.04% 5,899 $287K Reduce -21.2%
KRE SS SPDR S&P Regional Bank 0.04% 4,300 $279K No change
ETN Eaton Corp. PLC 0.04% 868 $276K No change
PHO Invesco Water Resources ETF 0.04% 3,920 $276K No change
RHHBY Roche Holdings Ltd.-Spons ADR 0.04% 5,300 $273K No change
WEC WEC Energy Group Inc. 0.04% 2,566 $271K Add +4.1%
FE Firstenergy Corp. 0.03% 5,400 $242K No change
ABBV Abbvie Inc. 0.03% 1,055 $241K No change
GS Goldman Sachs Group Inc. 0.03% 269 $236K Add +1.5%
QQQ Invesco QQQ Trust Series 1 0.03% 379 $233K No change
APH Amphenol Corp. Class A 0.03% 1,654 $224K New
META Meta Platforms Inc. Class A 0.03% 336 $222K Add +6.7%
FESM Fidelity Enhanced Small Cap 0.03% 5,847 $221K No change
ROP Roper Technologies Inc. 0.03% 490 $218K No change
MXF Mexico Fund Inc. 0.03% 10,600 $213K No change
NVS Novartis AG-Sponsored ADR 0.03% 1,530 $211K Reduce -48.7%
VTV Vanguard Mrngstr Val ETF-Aui 0.03% 1,090 $208K No change
JPM JPMorgan Chase & Co. 0.03% 633 $204K New
FTS Fortis Inc. 0.03% 3,900 $203K New
GT Goodyear Tire & Rubber Co. 0.02% 17,300 $152K Reduce -5.5%
ASRV Ameriserv Financial Inc. 0.02% 45,985 $147K Reduce -29.4%
AVALON ADVANCED MATERIALS IN 0.00% 18,750 $683 No change

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

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