Hanson & Doremus Investment Management

CIK 0001393944 · Q1 2026

13F Equity AUM

$869K

+4.5% QoQ

Positions

521

+44 QoQ

AUM Rank

#12,009

Top 97%

Skill Alpha (FF)

-1.4%/yr^ns

No Clear Edge

Rank #4,302 · Top 52%

vs S&P -6.2%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 43.4%Top 10: 55.6%Top 20: 68.9%

SCHB20.3%

VGIT8.1%

VEA6.0%

VCIT5.9%

VWO3.1%

TSM3.1%

ESGV2.9%

GLW2.1%

MSFT2.0%

VSGX2.0%

Others (511)44.4%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services64.8%

Technology13.8%

Healthcare5.5%

Industrials4.1%

Consumer Defensive2.8%

Communication Services2.4%

Energy2.2%

Consumer Cyclical2.0%

Other2.4%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 521Median: 0.01%Avg: 0.19%

0–0.5%

486(21.6%)

0.5–1%

16(10.4%)

1–3%

13(21.5%)

3–5%

2(6.2%)

5%+

4(40.3%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 506Unique: 15vs 20 funds

6.9%Low

521

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

9.5%

BANK OF AMERICA CORP /DE/

10.5%

9.9%

15.2%

10.9%

10%

VANGUARD CAPITAL MANAGEMENT LLC

9.5%

GEODE CAPITAL MANAGEMENT, LLC

VANGUARD PORTFOLIO MANAGEMENT LLC

10.5%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New77Increased117Decreased122Exited27

New Positions

BRK/A0.3%

AMT0.1%

+8K

AZN0.1%

+6K

CMTV0.1%

+14K

FLEX0.0%

+3K

FITB0.0%

+4K

BMO0.0%

+1K

LNWO0.0%

+700

AEP0.0%

+420

WAT0.0%

+392

Increased

VTEB1.3%

+94K(+69%)

VGIT8.1%

+66K(+6%)

SCHB20.3%

+33K(+0%)

VCIT5.9%

+24K(+4%)

VCEB1.5%

+22K(+12%)

VWO3.1%

+18K(+4%)

CSX0.1%

+17K(+211%)

ESGV2.9%

+11K(+5%)

VSGX2.0%

+11K(+5%)

TD0.2%

+11K(+156%)

Decreased

KRC0.1%

-71,313(-77%)

PFE0.2%

-70,897(-55%)

IOT0.3%

-3,741(-5%)

DIS0.1%

-3,559(-24%)

TSM3.1%

-3,366(-4%)

NCLH0.2%

-2,953(-3%)

STX1.5%

-2,613(-7%)

WY0.0%

-2,197(-25%)

VEA6.0%

-2,026(-0%)

DOC0.0%

-1,600(-67%)

Exited

-12,409

-3,588

-2,000

-4,725

-339

-21

-65

-226

-2

-227

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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