Passumpsic Savings Bank

Portfolio Overview

Passumpsic Savings Bank disclosed 90 positions worth $182.7M in its Form 13F-HR for Q4 2025. During the quarter the fund opened 53 new positions and exited 17 and a full exit from $AXON. The portfolio is most concentrated in Technology (29.4% of disclosed assets). All figures are sourced directly from Passumpsic Savings Bank’s Form 13F-HR filing with the SEC under CIK 2023170.

• VANGUARD SCOTTSDALE FDS

  —

  Quality

  $12.5M149,128 sh

• VANGUARD SCOTTSDALE FDS

  —

  Quality

  $10.2M133,951 sh
• 

  GENERAL ELECTRIC CO

  $GE

  73.6#125

  Quality

  $7.7M24,990 sh

• SPDR SERIES TRUST

  —

  Quality

  $7.4M325,655 sh
• 

  TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD

  $TSM

  —

  Quality

  $6.6M21,585 sh
• 

  NVIDIA CORP

  $NVDA

  85.9

  Quality

  $5.1M27,307 sh

• ISHARES TR

  —

  Quality

  $5.1M18,263 sh
• 

  AMERICAN ELECTRIC POWER CO INC

  $AEP

  66.5

  Quality

  $4.6M39,706 sh
• 

  Arista Networks, Inc.

  $ANET

  81.8

  Quality

  $4.5M34,695 sh
• 

  Broadcom Inc.

  $AVGO

  84.4

  Quality

  $4.3M12,531 sh

Company	Quality	Value	Shares
VANGUARD SCOTTSDALE FDS	—	$12.5M	149,128
VANGUARD SCOTTSDALE FDS	—	$10.2M	133,951
GENERAL ELECTRIC CO$GE	73.6#125	$7.7M	24,990
SPDR SERIES TRUST	—	$7.4M	325,655
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD$TSM	—	$6.6M	21,585
NVIDIA CORP$NVDA	85.9	$5.1M	27,307
ISHARES TR	—	$5.1M	18,263
AMERICAN ELECTRIC POWER CO INC$AEP	66.5	$4.6M	39,706
Arista Networks, Inc.$ANET	81.8	$4.5M	34,695
Broadcom Inc.$AVGO	84.4	$4.3M	12,531

Showing top 10 of 90 holdings.

Full Holdings — Passumpsic Savings Bank (Q4 2025)

All 90 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	—	VANGUARD SCOTTSDALE FDS	$12.5M	6.8%	NEW	—
2	—	VANGUARD SCOTTSDALE FDS	$10.2M	5.6%	NEW	—
3	$GE	GENERAL ELECTRIC CO	$7.7M	4.2%	NEW	73.6
4	—	SPDR SERIES TRUST	$7.4M	4.0%	NEW	—
5	$TSM	TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD	$6.6M	3.6%	NEW	—
6	$NVDA	NVIDIA CORP	$5.1M	2.8%	-19%	85.9
7	—	ISHARES TR	$5.1M	2.8%	NEW	—
8	$AEP	AMERICAN ELECTRIC POWER CO INC	$4.6M	2.5%	NEW	66.5
9	$ANET	Arista Networks, Inc.	$4.5M	2.5%	-13%	81.8
10	$AVGO	Broadcom Inc.	$4.3M	2.4%	-20%	84.4
11	$AMZN	AMAZON COM INC	$4.3M	2.4%	-12%	68.4
12	$APH	AMPHENOL CORP /DE/	$4.2M	2.3%	NEW	79.1
13	$BKNG	Booking Holdings Inc.	$3.5M	1.9%	-6%	58.3
14	$PH	Parker-Hannifin Corp	$3.4M	1.8%	-16%	65.6
15	$CMI	CUMMINS INC	$3.3M	1.8%	NEW	58
16	$TJX	TJX COMPANIES INC /DE/	$3.3M	1.8%	NEW	68.4
17	$GEV	GE Vernova Inc.	$3.3M	1.8%	NEW	81.1
18	$UBER	Uber Technologies, Inc	$3.2M	1.7%	NEW	73.3
19	$BSX	BOSTON SCIENTIFIC CORP	$3.1M	1.7%	-7%	77.3
20	$LRCX	LAM RESEARCH CORP	$3.1M	1.7%	NEW	79.3
21	$BNY	Bank of New York Mellon Corp	$3.1M	1.7%	NEW	73.8
22	$JPM	JPMORGAN CHASE & CO	$3.1M	1.7%	-11%	70.3
23	$V	VISA INC.	$3.1M	1.7%	-4%	82.7
24	$MA	Mastercard Inc	$2.9M	1.6%	-0%	85
25	$DIS	Walt Disney Co	$2.9M	1.6%	NEW	59.8
26	$META	Meta Platforms, Inc.	$2.9M	1.6%	-17%	79.6
27	—	VANGUARD STAR FDS	$2.8M	1.5%	NEW	—
28	$MU	MICRON TECHNOLOGY INC	$2.7M	1.5%	NEW	86.1
29	$HWM	Howmet Aerospace Inc.	$2.7M	1.5%	NEW	73.6
30	$LLY	ELI LILLY & Co	$2.6M	1.4%	-2%	87.5
31	$IDCC	InterDigital, Inc.	$2.4M	1.3%	NEW	64.7
32	$COR	Cencora, Inc.	$2.2M	1.2%	-0%	60.9
33	$RMD	RESMED INC	$2.2M	1.2%	NEW	74.1
34	$HIG	HARTFORD INSURANCE GROUP, INC.	$2.1M	1.2%	NEW	71.3
35	$CBOE	Cboe Global Markets, Inc.	$2.0M	1.1%	NEW	79
36	$IBKR	Interactive Brokers Group, Inc.	$2.0M	1.1%	NEW	76.7
37	—	ISHARES TR	$2.0M	1.1%	NEW	—
38	—	VANGUARD WORLD FD	$1.8M	1.0%	NEW	—
39	$UI	Ubiquiti Inc.	$1.8M	1.0%	NEW	78.2
40	$EME	EMCOR Group, Inc.	$1.7M	0.9%	NEW	69.1
41	$KGC	KINROSS GOLD CORP	$1.7M	0.9%	NEW	—
42	$GOOG	Alphabet Inc.	$1.6M	0.9%	NEW	78.1
43	$MSFT	MICROSOFT CORP	$1.6M	0.9%	+10%	79.7
44	$RCL	ROYAL CARIBBEAN CRUISES LTD	$1.5M	0.8%	NEW	—
45	$TSLA	Tesla, Inc.	$1.3M	0.7%	+0%	53.6
46	$AAPL	Apple Inc.	$1.2M	0.7%	+10%	76.3
47	—	VANGUARD SPECIALIZED FUNDS	$1.1M	0.6%	NEW	—
48	—	VANGUARD INDEX FDS	$971,888	0.5%	NEW	—
49	—	ISHARES TR	$967,026	0.5%	NEW	—
50	$RIO	RIO TINTO PLC	$804,782	0.4%	+906%	—
51	$MMM	3M CO	$799,700	0.4%	-5%	64.7
52	$PFH	PRUDENTIAL FINANCIAL INC	$787,451	0.4%	NEW	58.4
53	$IVZ	Invesco Ltd.	$767,646	0.4%	NEW	—
54	$TD	TORONTO DOMINION BANK	$749,832	0.4%	NEW	80.5
55	$NWE	NorthWestern Energy Group, Inc.	$719,815	0.4%	+4%	46.4
56	$DUK	Duke Energy CORP	$697,986	0.4%	+2%	56
57	$BMO	BANK OF MONTREAL /CAN/	$689,704	0.4%	NEW	76
58	$IBM	INTERNATIONAL BUSINESS MACHINES CORP	$667,065	0.4%	NEW	69.7
59	—	VANGUARD INDEX FDS	$652,949	0.4%	NEW	—
60	—	VANGUARD INDEX FDS	$642,079	0.3%	NEW	—
61	$MAIN	Main Street Capital CORP	$641,342	0.3%	NEW	—
62	$PFE	PFIZER INC	$618,192	0.3%	+1%	61.8
63	$FNF	Fidelity National Financial, Inc.	$608,078	0.3%	-1%	58
64	$OKE	ONEOK INC /NEW/	$590,058	0.3%	NEW	71.5
65	$ENB	ENBRIDGE INC	$587,400	0.3%	+7%	66.7
66	$T	AT&T INC.	$530,856	0.3%	+19%	65.5
67	$D	DOMINION ENERGY, INC	$517,233	0.3%	+14%	69.6
68	$XOM.R34088	EXXON MOBIL CORP	$514,213	0.3%	+18%	57.7
69	$PSX	Phillips 66	$485,836	0.3%	+15%	57.6
70	$BHP	BHP Group Ltd	$450,239	0.3%	+53%	—
71	$NEE	NEXTERA ENERGY INC	$448,605	0.3%	NEW	64.4
72	$KHC	Kraft Heinz Co	$403,399	0.2%	+20%	46.8
73	$JNJ	JOHNSON & JOHNSON	$389,066	0.2%	+16%	68.8
74	$FHI	FEDERATED HERMES, INC.	$377,403	0.2%	+26%	67.1
75	$GPC	GENUINE PARTS CO	$324,614	0.2%	NEW	52.4
76	$CSCO	CISCO SYSTEMS, INC.	$314,513	0.2%	NEW	70.1
77	$VZ	VERIZON COMMUNICATIONS INC	$299,284	0.2%	NEW	65.5
78	$BMY	BRISTOL MYERS SQUIBB CO	$280,218	0.1%	NEW	70.1
79	$CP	CANADIAN PACIFIC KANSAS CITY LTD/CN	$276,039	0.1%	+0%	69.7
80	$GOOGL	Alphabet Inc.	$274,575	0.1%	NEW	78.1
81	$IVZ	Invesco Ltd.	$273,410	0.1%	NEW	—
82	$MKL	MARKEL GROUP INC.	$260,108	0.1%	NEW	60
83	$FAF	First American Financial Corp	$254,362	0.1%	NEW	72.3
84	$EXC	EXELON CORP	$252,909	0.1%	NEW	59.3
85	$AES	AES CORP	$244,497	0.1%	NEW	58.2
86	$CVX	CHEVRON CORP	$237,607	0.1%	NEW	62.6
87	$OMC	OMNICOM GROUP INC.	$228,833	0.1%	NEW	58.8
88	$KMB	KIMBERLY CLARK CORP	$228,011	0.1%	NEW	58.4
89	$AMP	AMERIPRISE FINANCIAL INC	$220,653	0.1%	NEW	68.3
90	$GLDD	Great Lakes Dredge & Dock CORP	$157,440	0.1%	+0%	64.9