JOHN G ULLMAN & ASSOCIATES INC

CIK 0000919530 · Q2 2026

13F Equity AUM

$824.4M

+9.3% QoQ

Positions

181

+7 QoQ

AUM Rank

#2,728

Top 31%

Skill Alpha (FF)

+0.9%/yr^ns

No Clear Edge

Rank #1,973 · Top 24%

vs S&P -0.0%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 25.0%Top 10: 35.3%Top 20: 50.5%

GLW7.3%

TSM6.3%

CSCO4.5%

EMR4.3%

OGE2.7%

AVGO2.6%

TEL2.3%

AMZN1.8%

BE1.8%

ESSENTIAL UTILS INC1.8%

Others (171)64.7%

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

Sector Allocation

Technology34.4%

Industrials17.0%

Utilities14.7%

Healthcare9.2%

Communication Services5.3%

Financial Services5.0%

Consumer Cyclical4.0%

Energy3.9%

Other6.6%

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

Position Sizing

Positions: 181Median: 0.21%Avg: 0.55%

0–0.5%

123(18.0%)

0.5–1%

31(23.6%)

1–3%

23(36.0%)

3–5%

2(8.8%)

5%+

2(13.5%)

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

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Portfolio Overlap

Shared: 0Unique: 181vs 20 funds

0%Low

181

Fund positions

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.

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Position Changes This Quarter

New20Increased38Decreased85Exited13

New Positions

EXXON MOBIL HOLDINGS…1.7%

+104K

JAZZ1.0%

+33K

HONEYWELL INTL INC0.4%

+15K

HONEYWELL AEROSPACE0.4%

+15K

SCHW0.3%

+31K

VEEV0.3%

+13K

EXLS0.2%

+52K

HERC HLDGS INC0.1%

+5K

AMD0.1%

+919

META PLATFORMS INC C…0.1%

+765

Increased

YORW0.3%

+56K(+151%)

THE MOSAIC CO0.2%

+48K(+304%)

HAL0.5%

+41K(+50%)

PFE0.7%

+15K(+7%)

BAX0.1%

+15K(+84%)

XRAY0.1%

+15K(+64%)

DIS1.1%

+10K(+12%)

ABT0.4%

+9K(+30%)

EXP1.0%

+8K(+27%)

LNN1.4%

+7K(+8%)

Decreased

GLW7.3%

-85,877(-27%)

BE1.8%

-76,303(-61%)

INTC1.3%

-59,465(-45%)

GRC0.9%

-27,611(-25%)

OGE2.7%

-26,500(-5%)

ESSENTIAL UTILS INC1.8%

-23,317(-6%)

ECG0.9%

-20,570(-30%)

WDC1.0%

-20,467(-62%)

MDU0.9%

-17,792(-5%)

GNRC1.4%

-15,905(-29%)

Exited

XOM

-104,772

AMERICAN TOWER CORP …

-63,259

HON

-29,360

JAZZ

-32,833

ZIMMER BIOMET HLDGS …

-18,866

-17,650

-3,250

-6,125

-2,225

-6,780

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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