First National CORP /ma/ /adv 13F Filings Tracker & Analysis

CIK: 0000816192

Diversified strategyMomentum followerQuality / disciplined sizing

Total reported value

$527.5M

Reporting period: 2025-09-30 · Number of holdings: 174

FIRST NATIONAL CORP /MA/ /ADV disclosed 174 holdings in its latest 13F filing for the period ending 2025-09-30, with total reported value of $527.5M and a quarterly turnover rate of 28.4%.

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Personality snowflake

Concentration: 9.34
Portfolio Stability: 28.43
Momentum/Contrarian: 100
Sector conviction: 74.3
Diversification: 100
Sizing Uniformity: 82.45

First National CORP /ma/ /adv's disclosed holdings carry a Herfindahl concentration index of 0.023 — mathematically equivalent to about 43 equally-sized positions, well below its 174 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.

Position sizes vary widely across the portfolio (a coefficient of variation of 1.76), with a handful of outsized bets alongside many smaller positions.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Sector classification currently covers about 13% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.

Recent moves

Add AGG
-0.1%　$13.0M
Trim SH
-13.7%　-$8.6M
Trim TLT
+15.2%　-$4.9M
Trim GLD
-9.4%　-$3.4M
Add USFR
+3.3%　$9.3M
Add QLD
+13.2%　$5.9M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	6.50%	+0.22%	-0.46%
2	USFR	Wisdomtree Floating Rate Tre	ETF-Other	4.92%	+1.25%	+3.30%
3	SCHB	Schwab US Broad Market ETF	ETF-Other	4.80%	+0.11%	+0.12%
4	GLD	Spdr Gold Shares	ETF-Commodities	3.70%	-1.37%	-9.44%
5	SCHX	Schwab US Large-cap ETF	ETF-Other	3.69%	+0.15%	+1.47%
6	SCHA	Schwab US Small-cap ETF	ETF-Other	3.13%	+0.30%	+2.71%
7	SCHD	Schwab US Dvd Equity ETF	ETF-Other	3.12%	—	+1.30%
8	SCHM	Schwab US Mid Cap ETF	ETF-Other	3.10%	+0.03%	-1.14%
9	AAPL	Apple INC	Stock-Tech	2.97%	-0.32%	-1.41%
10	VO	Vanguard Mid-cap ETF	ETF-Other	2.80%	+0.09%	+1.04%
11	AGG	Ishares Core U.s. Aggregate	ETF-Other	2.62%	+2.45%	-0.14%
12	VB	Vanguard Small-cap ETF	ETF-Other	2.54%	+0.17%	+1.88%
13	QLD	Proshares Ultra Qqq	ETF-Other	2.34%	+0.92%	+13.17%
14	IMTB	Ishares Core 5-10 Year Usd	ETF-Other	2.14%	+2.14%	NEW
15	QQQ	Invesco Qqq Trust Series 1	ETF-Tech	2.07%	+0.32%	-3.80%
16	BOND	Pimco Active Bond Exchange-t	ETF-Other	1.89%	+0.10%	+9.98%
17	LDUR	Pimco Enhanced Low Duration	ETF-Other	1.88%	—	+10.42%
18	TLT	Ishares 20+ Year Treasury Bd	ETF-Gov Bonds	1.88%	-1.38%	+15.19%
19	DFAI	Dimensional International Co	ETF-Other	1.88%	-0.04%	+5.22%
20	SH	Proshares Short S&p500	ETF-Other	1.86%	-2.21%	-13.74%
21	SDY	Ss Spdr S&p Dividend ETF	ETF-Other	1.67%	—	-0.22%
22	SCHF	Schwab Intl Equity ETF	ETF-Other	1.57%	+0.03%	+0.54%
23	DGRO	Ishares Core Dividend Growth	ETF-Other	1.56%	+0.11%	+5.75%
24	VNQ	Vanguard Real Estate ETF	ETF-Other	1.27%	—	-0.01%
25	GSIE	Goldman Sachs Activebeta Int	ETF-Commodities	1.17%	+0.06%	+3.84%
26	TBT	Proshares Ultrashort 20+y Tr	ETF-Other	1.06%	-0.37%	-7.06%
27	ITA	Ishares U.s. Aerospace & Def	ETF-Other	1.01%	+0.60%	+24.57%
28	VEA	Vanguard Ftse Developed ETF	ETF-Other	0.99%	+0.02%	+0.06%
29	MSFT	Microsoft CORP	Stock-Tech	0.86%	+0.25%	+4.33%
30	VOO	Vanguard S&p 500 ETF	ETF-Large Cap & Growth	0.83%	+0.05%	+0.98%
31	VPU	Vanguard Utilities ETF	ETF-Other	0.82%	-0.88%	-3.64%
32	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	0.80%	+0.21%	-0.85%
33	SOXX	Ishares Semiconductor ETF	ETF-Other	0.75%	+0.05%	+5.20%
34	IVV	Ishares Core S&p 500 ETF	ETF-Large Cap & Growth	0.73%	+0.01%	—
35	AMZN	Amazon.com INC	Stock-Consumer Disc	0.69%	+0.02%	-1.31%
36	XCEM	Columbia Em Core Ex-china	ETF-Emerging Markets	0.68%	+0.05%	-0.05%
37	LLY	Eli Lilly & Co	Stock-Healthcare	0.63%	—	-0.42%
38	NVDA	Nvidia CORP	Stock-Tech	0.61%	+0.23%	+11.55%
39	VRP	Invesco Variable Rate Prefer	ETF-Other	0.60%	+0.05%	+12.26%
40	BRK-A	Berkshire Hathaway Inc-cl A	Stock-Other	0.57%	—	—
41	KBWP	Invesco Kbw Property & Casua	ETF-Other	0.54%	-0.23%	-45.66%
42	CWB	Ss Spdr Bb Conv Sec ETF	ETF-Other	0.52%	—	+0.02%
43	COST	Costco Wholesale CORP	Stock-Consumer Staples	0.49%	-0.27%	-23.35%
44	GOOG	Alphabet Inc-cl C	Stock-Comm Services	0.47%	+0.13%	+3.22%
45	FNDX	Schwab Fndmntl US Lrg Co ETF	ETF-Other	0.46%	—	-3.03%
46	EFA	Ishares Msci Eafe ETF	ETF-Other	0.46%	—	—
47	ICF	Ishares Select U.s. Reit ETF	ETF-Other	0.45%	—	+10.67%
48	FLRN	Ss Spdr Bb Ig Float Rt ETF	ETF-Other	0.43%	—	+0.72%
49	FNDB	Schwab Fndmntl US Brd Mr ETF	ETF-Other	0.43%	—	+2.00%
50	BNDX	Vanguard Total Intl Bond ETF	ETF-Other	0.42%	—	-0.32%

1–50 of 174

Portfolio Performance

Performance for Q3 2026

+2.9%

Performance Last 4 Quarters

+20.9%

Based on 83% of reported portfolio value with available pricing

Stdev: +10.8%
Beta: +0.76
Alpha: +0.5%
Max Drawdown: -7.3%
Annualized Perf: +14.9%
Batting Avg vs S&P: +33.3%
Sortino: +2.6
Stutzer: +0.39
Treynor: +0.19
Sterling: +0.97
Calmar: +2.04
Information Ratio: -0.76
Tracking Error: +5.2%
Stdev Down: +5.6%
Winning Months %: +63.9%
Losing Months %: +36.1%
Best 12 Months: +29.6%
Worst 12 Months: +9.8%
Efficiency Ratio: +0.52
Sharpe: +1.35
Stdev Sectors: +12.3%
Skewness: -0.12
Kurtosis: -0.37
Upside Potential: +4.27

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2025-09-30	174	$527.5M	28	1SPY 2USFR 3SCHB Top holdings2025-09-30 1.SPY 2.USFR 3.SCHB 4.GLD 5.SCHX 6.SCHA 7.SCHD 8.SCHM 9.AAPL 10.VO
2025-06-30	163	$496.0M	0	1SPY 2USFR 3SCHB Top holdings2025-06-30 1.SPY 2.USFR 3.SCHB 4.GLD 5.SCHX 6.SCHD 7.SCHM 8.SCHA 9.VO 10.AGG
2025-03-31	160	$452.9M	100	1SPY 2GLD 3SCHB Top holdings2025-03-31 1.SPY 2.GLD 3.SCHB 4.SH 5.SCHD 6.USFR 7.SCHX 8.AAPL 9.TLT 10.SCHM
2024-12-31	153	$441.7M	0	1SPY 2SCHB 3GLD Top holdings2024-12-31 1.SPY 2.SCHB 3.GLD 4.SH 5.AAPL 6.SCHX 7.SCHD 8.USFR 9.SCHM 10.SCHA
2024-09-30	145	$449.6M	0	1SPY 2GLD 3SCHB Top holdings2024-09-30 1.SPY 2.GLD 3.SCHB 4.SH1USD 5.USFR 6.SCHD 7.SCHX 8.AAPL 9.SCHM 10.SCHA
2024-06-30	155	$419.9M	0	1SPY 2SCHB 3USFR Top holdings2024-06-30 1.SPY 2.SCHB 3.USFR 4.SCHX 5.AAPL 6.SCHD 7.TLT 8.SCHM 9.VO 10.SCHA
2024-03-31	154	$406.8M	0	1SCHB 2SPY 3USFR Top holdings2024-03-31 1.SCHB 2.SPY 3.USFR 4.AAPL 5.SCHD 6.SCHA 7.SCHX 8.SCHM 9.VO 10.TLT
2023-12-31	154	$407.5M	0	1SCHB 2SPY 3USFR Top holdings2023-12-31 1.SCHB 2.SPY 3.USFR 4.AAPL 5.SCHD 6.SCHX 7.SCHA 8.SCHM 9.VO 10.TLT
2023-09-30	147	$372.4M	0	1SCHB 2SPY 3USFR Top holdings2023-09-30 1.SCHB 2.SPY 3.USFR 4.AAPL 5.SCHD 6.VPU 7.SCHM 8.SCHA 9.SCHX 10.VO
2023-06-30	157	$421.3M	0	1SCHB 2SPY 3VPU Top holdings2023-06-30 1.SCHB 2.SPY 3.VPU 4.USFR 5.AAPL 6.SCHD 7.SOXX 8.SCHM 9.SCHA 10.SCHX
2023-03-31	164	$420.4M	0	1SCHB 2SPY 3VPU Top holdings2023-03-31 1.SCHB 2.SPY 3.VPU 4.TLT 5.USFR 6.SOXX 7.SCHD 8.AAPL 9.SCHA 10.SCHM
2022-12-31	154	$404.5M	0	1TLT 2SCHB 3VPU Top holdings2022-12-31 1.TLT 2.SCHB 3.VPU 4.SPY 5.SCHD 6.SOXX 7.USFR 8.SCHA 9.SCHM 10.LQD
2022-09-30	152	$365.3M	0	1VPU 2TLT 3SPY Top holdings2022-09-30 1.VPU 2.TLT 3.SPY 4.SCHB 5.STIP 6.AAPL 7.SH1USD 8.SCHD 9.SCHA 10.SCHM
2022-06-30	154	$382.3M	0	1TLT 2VPU 3STIP Top holdings2022-06-30 1.TLT 2.VPU 3.STIP 4.SPY 5.SCHB 6.AAPL 7.SCHD 8.SH1USD 9.SCHA 10.SCHM
2022-03-31	163	$471.7M	0	1TLT 2SCHB 3SPY Top holdings2022-03-31 1.TLT 2.SCHB 3.SPY 4.STIP 5.AAPL 6.SCHA 7.SCHD 8.SCHM 9.SOXX 10.SCHF
2021-12-31	159	$447.2M	0	1SCHB 2SOXX 3SPY Top holdings2021-12-31 1.SCHB 2.SOXX 3.SPY 4.AAPL 5.SDY 6.VPU 7.SCHF 8.SCHD 9.AWK 10.VNQ
2021-09-30	161	$446.0M	0	1TLT 2SCHB 3SOXX Top holdings2021-09-30 1.TLT 2.SCHB 3.SOXX 4.SPY 5.SCHF 6.SDY 7.STIP 8.VPU 9.SCHA 10.SCHM
2021-06-30	152	$403.1M	100	1SCHB 2SOXX 3TLT Top holdings2021-06-30 1.SCHB 2.SOXX 3.TLT 4.SPY 5.SCHF 6.SDY 7.DBO 8.STIP 9.SCHD 10.SCHA
2021-03-31	152	$403.1M	17	1SCHB 2SOXX 3TLT Top holdings2021-03-31 1.SCHB 2.SOXX 3.TLT 4.SPY 5.SCHF 6.SDY 7.DBO 8.STIP 9.SCHD 10.SCHA
2020-12-31	150	$367.1M	100	1SCHB 2SOXX 3SCHF Top holdings2020-12-31 1.SCHB 2.SOXX 3.SCHF 4.SPY 5.TLT 6.SCHA 7.SDY 8.AAPL 9.SCHM 10.SCHD
2020-09-30	146	$320.9M	100	1VB 2QLD 3VO Top holdings2020-09-30 1.VB 2.QLD 3.VO 4.STIP 5.LDUR 6.QLTA 7.WTRG 8.VEA 9.BOND 10.VOO
2020-06-30	141	$291.1M	100	1SOXX 2SCHB 3SCHH Top holdings2020-06-30 1.SOXX 2.SCHB 3.SCHH 4.SCHF 5.SPY 6.SDY 7.SCHA 8.SCHD 9.SCHM 10.DBO
2020-03-31	134	$153.7M	100	1TFI 2LLY 3FLRN Top holdings2020-03-31 1.TFI 2.LLY 3.FLRN 4.PFF 5.QQQ 6.FNDX 7.GSIE 8.SCHF 9.TLT 10.BRK-A
2019-12-31	145	$268.8M	13	1SCHB 2SOXX 3SCHA Top holdings2019-12-31 1.SCHB 2.SOXX 3.SCHA 4.SCHM 5.TLT 6.SDY 7.SCHD 8.LEG 9.SCHF 10.SCHX
2019-09-30	141	$248.2M	8	1SCHB 2SOXX 3SCHA Top holdings2019-09-30 1.SCHB 2.SOXX 3.SCHA 4.TLT 5.SCHM 6.SDY 7.SCHD 8.SCHF 9.SCHE 10.SCHX
2019-06-30	137	$242.2M	18	1SCHB 2SOXX 3SCHA Top holdings2019-06-30 1.SCHB 2.SOXX 3.SCHA 4.SCHM 5.TLT 6.SDY 7.SCHD 8.LQD 9.SCHE 10.SCHX
2019-03-31	487	$240.4M	33	1SCHB 2SCHM 3SOXX Top holdings2019-03-31 1.SCHB 2.SCHM 3.SOXX 4.SCHA 5.LQD 6.SDY 7.SCHD 8.LEG 9.TLT 10.SCHE
2018-12-31	411	$217.0M	0	1SCHB 2TLT 3SCHA Top holdings2018-12-31 1.SCHB 2.TLT 3.SCHA 4.SCHM 5.SDY 6.SOXX 7.SCHD 8.LEG 9.SPY 10.VPU

Holding changes this quarter

First National CORP /ma/ /adv's most significant position changes for 2025-09-30: New buy: Ishares Core 5-10 Year Usd (IMTB); Sold out: Proshares Ultra S&p500 (SSO); New buy: JPM Interntl Value ETF (JIVE); New buy: Palantir Technologies Inc-a (PLTR); Add: Ishares Core U.s. Aggregate (AGG) — shares -0.14%.

Position changes disclosed by First National CORP /ma/ /adv for the quarter ending 2025-09-30, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	AGG	Ishares Core U.s. Aggregate	+2.5%	-0.14%	Add
2	USFR	Wisdomtree Floating Rate Tre	+1.3%	+3.30%	Add
3	QLD	Proshares Ultra Qqq	+0.9%	+13.17%	Add
4	ITA	Ishares U.s. Aerospace & Def	+0.6%	+24.57%	Add
5	QQQ	Invesco Qqq Trust Series 1	+0.3%	-3.80%	Add
6	SCHA	Schwab US Small-cap ETF	+0.3%	+2.71%	Add
7	MSFT	Microsoft CORP	+0.3%	+4.33%	Add
8	NVDA	Nvidia CORP	+0.2%	+11.55%	Add
9	SPY	Ss Spdr S&p 500 ETF Trust-us	+0.2%	-0.46%	Add
10	GOOGL	Alphabet Inc-cl A	+0.2%	-0.85%	Trim
11	VB	Vanguard Small-cap ETF	+0.2%	+1.88%	Add
12	SCHX	Schwab US Large-cap ETF	+0.2%	+1.47%	Add
13	GOOG	Alphabet Inc-cl C	+0.1%	+3.22%	Add
14	SCHB	Schwab US Broad Market ETF	+0.1%	+0.12%	Trim
15	DGRO	Ishares Core Dividend Growth	+0.1%	+5.75%	Add
16	BOND	Pimco Active Bond Exchange-t	+0.1%	+9.98%	Add
17	CGXU	Cap Group Intl Focus	+0.1%	+186.22%	Add
18	VO	Vanguard Mid-cap ETF	+0.1%	+1.04%	Add
19	GME	Gamestop Corp-class A	+0.1%	+0.04%	Add
20	TSLA	Tesla INC	+0.1%	+7.47%	Add
21	GSIE	Goldman Sachs Activebeta Int	+0.1%	+3.84%	Add
22	VOO	Vanguard S&p 500 ETF	+0.1%	+0.98%	Add
23	XCEM	Columbia Em Core Ex-china	+0.1%	-0.05%	Add
24	SOXX	Ishares Semiconductor ETF	+0.1%	+5.20%	Trim
25	VRP	Invesco Variable Rate Prefer	+0.1%	+12.26%	Add
26	SCHM	Schwab US Mid Cap ETF	0%	-1.14%	Add
27	SCHF	Schwab Intl Equity ETF	0%	+0.54%	Trim
28	VEA	Vanguard Ftse Developed ETF	0%	+0.06%	Add
29	AMZN	Amazon.com INC	0%	-1.31%	Add
30	IVV	Ishares Core S&p 500 ETF	0%	—	Trim
31	LDUR	Pimco Enhanced Low Duration	—	+10.42%	Add
32	DFAI	Dimensional International Co	0%	+5.22%	Trim
33	HTO	H2o America	-0.2%	-1.83%	Trim
34	V	Visa Inc-class A Shares	-0.2%	-54.65%	Trim
35	WTRG	Essential Utilities INC	-0.2%	-4.69%	Trim
36	AWR	American States Water Co	-0.2%	-0.31%	Trim
37	CWT	California Water Service Grp	-0.2%	-5.80%	Trim
38	AWK	American Water Works Co INC	-0.2%	-5.39%	Trim
39	KBWP	Invesco Kbw Property & Casua	-0.2%	-45.66%	Trim
40	COST	Costco Wholesale CORP	-0.3%	-23.35%	Trim
41	AAPL	Apple INC	-0.3%	-1.41%	Trim
42	TBT	Proshares Ultrashort 20+y Tr	-0.4%	-7.06%	Trim
43	VPU	Vanguard Utilities ETF	-0.9%	-3.64%	Trim
44	GLD	Spdr Gold Shares	-1.4%	-9.44%	Trim
45	TLT	Ishares 20+ Year Treasury Bd	-1.4%	+15.19%	Trim
46	SH	Proshares Short S&p500	-2.2%	-13.74%	Trim
47	IMTB	Ishares Core 5-10 Year Usd	—	NEW	New buy
48	SSO	Proshares Ultra S&p500	—	EXIT	Sold out
49	JIVE	JPM Interntl Value ETF	—	NEW	New buy
50	PLTR	Palantir Technologies Inc-a	—	NEW	New buy

Filing History

Period	Filed	Type	EDGAR
2025-09-30	2025-10-28	13F-HR	View on EDGAR
2025-06-30	2025-07-08	13F-HR	View on EDGAR
2025-03-31	2025-04-11	13F-HR	View on EDGAR
2024-12-31	2025-01-29	13F-HR	View on EDGAR
2024-09-30	2024-10-08	13F-HR	View on EDGAR
2024-06-30	2024-07-12	13F-HR	View on EDGAR
2024-03-31	2024-04-15	13F-HR	View on EDGAR
2023-12-31	2024-01-18	13F-HR	View on EDGAR
2023-09-30	2023-10-24	13F-HR	View on EDGAR
2023-06-30	2023-07-31	13F-HR	View on EDGAR
2023-03-31	2023-04-28	13F-HR	View on EDGAR
2022-12-31	2023-01-26	13F-HR	View on EDGAR
2022-09-30	2022-10-24	13F-HR	View on EDGAR
2022-06-30	2022-07-18	13F-HR	View on EDGAR
2022-03-31	2022-04-26	13F-HR	View on EDGAR
2021-12-31	2022-01-28	13F-HR	View on EDGAR
2021-09-30	2021-11-09	13F-HR	View on EDGAR
2021-06-30	2021-07-30	Amendment	View on EDGAR
2021-06-30	2021-07-30	13F-HR	View on EDGAR
2021-03-31	2021-05-10	13F-HR	View on EDGAR
2020-12-31	2021-02-08	13F-HR	View on EDGAR
2020-09-30	2020-10-22	13F-HR	View on EDGAR
2020-06-30	2020-07-21	13F-HR	View on EDGAR
2020-03-31	2020-04-16	13F-HR	View on EDGAR
2019-12-31	2020-01-31	13F-HR	View on EDGAR
2019-09-30	2019-10-24	13F-HR	View on EDGAR
2019-06-30	2019-07-30	13F-HR	View on EDGAR
2019-03-31	2019-06-18	Amendment	View on EDGAR
2019-03-31	2019-06-12	13F-HR	View on EDGAR
2018-12-31	2019-06-12	13F-HR	View on EDGAR

FAQ

What is First National CORP /ma/ /adv and what type of investor is it?

First National CORP /ma/ /adv is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2025-09-30), the firm manages a tracked equity portfolio valued at approximately $527.5M, spread across 174 disclosed positions.

What are First National CORP /ma/ /adv's largest equity positions?

Based on the latest 13F filing, First National CORP /ma/ /adv's top holdings by market value are: 1. Ss Spdr S&p 500 ETF Trust-us (SPY) — $34.3M (6.5%) 2. Wisdomtree Floating Rate Tre (USFR) — $26.0M (4.9%) 3. Schwab US Broad Market ETF (SCHB) — $25.3M (4.8%) 4. Spdr Gold Shares (GLD) — $19.5M (3.7%) 5. Schwab US Large-cap ETF (SCHX) — $19.4M (3.7%)

What changes did First National CORP /ma/ /adv make in its most recent portfolio filing?

In the latest reported quarter, First National CORP /ma/ /adv made 50 notable position adjustments: 3 new positions were initiated, 26 existing holdings were added to, 20 positions were partially reduced, and 1 were completely exited. The largest of these moves: New buy: Ishares Core 5-10 Year Usd (IMTB); Sold out: Proshares Ultra S&p500 (SSO); New buy: JPM Interntl Value ETF (JIVE); New buy: Palantir Technologies Inc-a (PLTR); Add: Ishares Core U.s. Aggregate (AGG) — shares -0.14%

What sectors does First National CORP /ma/ /adv focus on?

First National CORP /ma/ /adv is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 43.6% • Communication Services: 14.0% • Health Care: 13.8% • Consumer Discretionary: 9.1% • Consumer Staples: 7.3% • Financials: 6.0%

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2026-03-31

Concentration21.9

Portfolio Stability11.6

Sector conviction100.0

2 of the top 5 holdings overlap, including Schwab US Broad Market ETF

View detail

First National CORP /ma/ /adv 13F Filings Tracker & Analysis

CIK: 0000816192

Diversified strategyMomentum followerQuality / disciplined sizing

Total reported value

$527.5M

Reporting period: 2025-09-30 · Number of holdings: 174

FIRST NATIONAL CORP /MA/ /ADV disclosed 174 holdings in its latest 13F filing for the period ending 2025-09-30, with total reported value of $527.5M and a quarterly turnover rate of 28.4%.

Browse other institutions with $100M to $1B AUM Browse other institutions starting with "F"

Personality snowflake

Concentration: 9.34
Portfolio Stability: 28.43
Momentum/Contrarian: 100
Sector conviction: 74.3
Diversification: 100
Sizing Uniformity: 82.45

Position sizes vary widely across the portfolio (a coefficient of variation of 1.76), with a handful of outsized bets alongside many smaller positions.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Recent moves

Add AGG
-0.1%　$13.0M
Trim SH
-13.7%　-$8.6M
Trim TLT
+15.2%　-$4.9M
Trim GLD
-9.4%　-$3.4M
Add USFR
+3.3%　$9.3M
Add QLD
+13.2%　$5.9M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	6.50%	+0.22%	-0.46%
2	USFR	Wisdomtree Floating Rate Tre	ETF-Other	4.92%	+1.25%	+3.30%
3	SCHB	Schwab US Broad Market ETF	ETF-Other	4.80%	+0.11%	+0.12%
4	GLD	Spdr Gold Shares	ETF-Commodities	3.70%	-1.37%	-9.44%
5	SCHX	Schwab US Large-cap ETF	ETF-Other	3.69%	+0.15%	+1.47%
6	SCHA	Schwab US Small-cap ETF	ETF-Other	3.13%	+0.30%	+2.71%
7	SCHD	Schwab US Dvd Equity ETF	ETF-Other	3.12%	—	+1.30%
8	SCHM	Schwab US Mid Cap ETF	ETF-Other	3.10%	+0.03%	-1.14%
9	AAPL	Apple INC	Stock-Tech	2.97%	-0.32%	-1.41%
10	VO	Vanguard Mid-cap ETF	ETF-Other	2.80%	+0.09%	+1.04%
11	AGG	Ishares Core U.s. Aggregate	ETF-Other	2.62%	+2.45%	-0.14%
12	VB	Vanguard Small-cap ETF	ETF-Other	2.54%	+0.17%	+1.88%
13	QLD	Proshares Ultra Qqq	ETF-Other	2.34%	+0.92%	+13.17%
14	IMTB	Ishares Core 5-10 Year Usd	ETF-Other	2.14%	+2.14%	NEW
15	QQQ	Invesco Qqq Trust Series 1	ETF-Tech	2.07%	+0.32%	-3.80%
16	BOND	Pimco Active Bond Exchange-t	ETF-Other	1.89%	+0.10%	+9.98%
17	LDUR	Pimco Enhanced Low Duration	ETF-Other	1.88%	—	+10.42%
18	TLT	Ishares 20+ Year Treasury Bd	ETF-Gov Bonds	1.88%	-1.38%	+15.19%
19	DFAI	Dimensional International Co	ETF-Other	1.88%	-0.04%	+5.22%
20	SH	Proshares Short S&p500	ETF-Other	1.86%	-2.21%	-13.74%
21	SDY	Ss Spdr S&p Dividend ETF	ETF-Other	1.67%	—	-0.22%
22	SCHF	Schwab Intl Equity ETF	ETF-Other	1.57%	+0.03%	+0.54%
23	DGRO	Ishares Core Dividend Growth	ETF-Other	1.56%	+0.11%	+5.75%
24	VNQ	Vanguard Real Estate ETF	ETF-Other	1.27%	—	-0.01%
25	GSIE	Goldman Sachs Activebeta Int	ETF-Commodities	1.17%	+0.06%	+3.84%
26	TBT	Proshares Ultrashort 20+y Tr	ETF-Other	1.06%	-0.37%	-7.06%
27	ITA	Ishares U.s. Aerospace & Def	ETF-Other	1.01%	+0.60%	+24.57%
28	VEA	Vanguard Ftse Developed ETF	ETF-Other	0.99%	+0.02%	+0.06%
29	MSFT	Microsoft CORP	Stock-Tech	0.86%	+0.25%	+4.33%
30	VOO	Vanguard S&p 500 ETF	ETF-Large Cap & Growth	0.83%	+0.05%	+0.98%
31	VPU	Vanguard Utilities ETF	ETF-Other	0.82%	-0.88%	-3.64%
32	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	0.80%	+0.21%	-0.85%
33	SOXX	Ishares Semiconductor ETF	ETF-Other	0.75%	+0.05%	+5.20%
34	IVV	Ishares Core S&p 500 ETF	ETF-Large Cap & Growth	0.73%	+0.01%	—
35	AMZN	Amazon.com INC	Stock-Consumer Disc	0.69%	+0.02%	-1.31%
36	XCEM	Columbia Em Core Ex-china	ETF-Emerging Markets	0.68%	+0.05%	-0.05%
37	LLY	Eli Lilly & Co	Stock-Healthcare	0.63%	—	-0.42%
38	NVDA	Nvidia CORP	Stock-Tech	0.61%	+0.23%	+11.55%
39	VRP	Invesco Variable Rate Prefer	ETF-Other	0.60%	+0.05%	+12.26%
40	BRK-A	Berkshire Hathaway Inc-cl A	Stock-Other	0.57%	—	—
41	KBWP	Invesco Kbw Property & Casua	ETF-Other	0.54%	-0.23%	-45.66%
42	CWB	Ss Spdr Bb Conv Sec ETF	ETF-Other	0.52%	—	+0.02%
43	COST	Costco Wholesale CORP	Stock-Consumer Staples	0.49%	-0.27%	-23.35%
44	GOOG	Alphabet Inc-cl C	Stock-Comm Services	0.47%	+0.13%	+3.22%
45	FNDX	Schwab Fndmntl US Lrg Co ETF	ETF-Other	0.46%	—	-3.03%
46	EFA	Ishares Msci Eafe ETF	ETF-Other	0.46%	—	—
47	ICF	Ishares Select U.s. Reit ETF	ETF-Other	0.45%	—	+10.67%
48	FLRN	Ss Spdr Bb Ig Float Rt ETF	ETF-Other	0.43%	—	+0.72%
49	FNDB	Schwab Fndmntl US Brd Mr ETF	ETF-Other	0.43%	—	+2.00%
50	BNDX	Vanguard Total Intl Bond ETF	ETF-Other	0.42%	—	-0.32%

1–50 of 174

Portfolio Performance

Performance for Q3 2026

+2.9%

Performance Last 4 Quarters

+20.9%

Based on 83% of reported portfolio value with available pricing

Stdev: +10.8%
Beta: +0.76
Alpha: +0.5%
Max Drawdown: -7.3%
Annualized Perf: +14.9%
Batting Avg vs S&P: +33.3%
Sortino: +2.6
Stutzer: +0.39
Treynor: +0.19
Sterling: +0.97
Calmar: +2.04
Information Ratio: -0.76
Tracking Error: +5.2%
Stdev Down: +5.6%
Winning Months %: +63.9%
Losing Months %: +36.1%
Best 12 Months: +29.6%
Worst 12 Months: +9.8%
Efficiency Ratio: +0.52
Sharpe: +1.35
Stdev Sectors: +12.3%
Skewness: -0.12
Kurtosis: -0.37
Upside Potential: +4.27

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2025-09-30	174	$527.5M	28	1SPY 2USFR 3SCHB Top holdings2025-09-30 1.SPY 2.USFR 3.SCHB 4.GLD 5.SCHX 6.SCHA 7.SCHD 8.SCHM 9.AAPL 10.VO
2025-06-30	163	$496.0M	0	1SPY 2USFR 3SCHB Top holdings2025-06-30 1.SPY 2.USFR 3.SCHB 4.GLD 5.SCHX 6.SCHD 7.SCHM 8.SCHA 9.VO 10.AGG
2025-03-31	160	$452.9M	100	1SPY 2GLD 3SCHB Top holdings2025-03-31 1.SPY 2.GLD 3.SCHB 4.SH 5.SCHD 6.USFR 7.SCHX 8.AAPL 9.TLT 10.SCHM
2024-12-31	153	$441.7M	0	1SPY 2SCHB 3GLD Top holdings2024-12-31 1.SPY 2.SCHB 3.GLD 4.SH 5.AAPL 6.SCHX 7.SCHD 8.USFR 9.SCHM 10.SCHA
2024-09-30	145	$449.6M	0	1SPY 2GLD 3SCHB Top holdings2024-09-30 1.SPY 2.GLD 3.SCHB 4.SH1USD 5.USFR 6.SCHD 7.SCHX 8.AAPL 9.SCHM 10.SCHA
2024-06-30	155	$419.9M	0	1SPY 2SCHB 3USFR Top holdings2024-06-30 1.SPY 2.SCHB 3.USFR 4.SCHX 5.AAPL 6.SCHD 7.TLT 8.SCHM 9.VO 10.SCHA
2024-03-31	154	$406.8M	0	1SCHB 2SPY 3USFR Top holdings2024-03-31 1.SCHB 2.SPY 3.USFR 4.AAPL 5.SCHD 6.SCHA 7.SCHX 8.SCHM 9.VO 10.TLT
2023-12-31	154	$407.5M	0	1SCHB 2SPY 3USFR Top holdings2023-12-31 1.SCHB 2.SPY 3.USFR 4.AAPL 5.SCHD 6.SCHX 7.SCHA 8.SCHM 9.VO 10.TLT
2023-09-30	147	$372.4M	0	1SCHB 2SPY 3USFR Top holdings2023-09-30 1.SCHB 2.SPY 3.USFR 4.AAPL 5.SCHD 6.VPU 7.SCHM 8.SCHA 9.SCHX 10.VO
2023-06-30	157	$421.3M	0	1SCHB 2SPY 3VPU Top holdings2023-06-30 1.SCHB 2.SPY 3.VPU 4.USFR 5.AAPL 6.SCHD 7.SOXX 8.SCHM 9.SCHA 10.SCHX
2023-03-31	164	$420.4M	0	1SCHB 2SPY 3VPU Top holdings2023-03-31 1.SCHB 2.SPY 3.VPU 4.TLT 5.USFR 6.SOXX 7.SCHD 8.AAPL 9.SCHA 10.SCHM
2022-12-31	154	$404.5M	0	1TLT 2SCHB 3VPU Top holdings2022-12-31 1.TLT 2.SCHB 3.VPU 4.SPY 5.SCHD 6.SOXX 7.USFR 8.SCHA 9.SCHM 10.LQD
2022-09-30	152	$365.3M	0	1VPU 2TLT 3SPY Top holdings2022-09-30 1.VPU 2.TLT 3.SPY 4.SCHB 5.STIP 6.AAPL 7.SH1USD 8.SCHD 9.SCHA 10.SCHM
2022-06-30	154	$382.3M	0	1TLT 2VPU 3STIP Top holdings2022-06-30 1.TLT 2.VPU 3.STIP 4.SPY 5.SCHB 6.AAPL 7.SCHD 8.SH1USD 9.SCHA 10.SCHM
2022-03-31	163	$471.7M	0	1TLT 2SCHB 3SPY Top holdings2022-03-31 1.TLT 2.SCHB 3.SPY 4.STIP 5.AAPL 6.SCHA 7.SCHD 8.SCHM 9.SOXX 10.SCHF
2021-12-31	159	$447.2M	0	1SCHB 2SOXX 3SPY Top holdings2021-12-31 1.SCHB 2.SOXX 3.SPY 4.AAPL 5.SDY 6.VPU 7.SCHF 8.SCHD 9.AWK 10.VNQ
2021-09-30	161	$446.0M	0	1TLT 2SCHB 3SOXX Top holdings2021-09-30 1.TLT 2.SCHB 3.SOXX 4.SPY 5.SCHF 6.SDY 7.STIP 8.VPU 9.SCHA 10.SCHM
2021-06-30	152	$403.1M	100	1SCHB 2SOXX 3TLT Top holdings2021-06-30 1.SCHB 2.SOXX 3.TLT 4.SPY 5.SCHF 6.SDY 7.DBO 8.STIP 9.SCHD 10.SCHA
2021-03-31	152	$403.1M	17	1SCHB 2SOXX 3TLT Top holdings2021-03-31 1.SCHB 2.SOXX 3.TLT 4.SPY 5.SCHF 6.SDY 7.DBO 8.STIP 9.SCHD 10.SCHA
2020-12-31	150	$367.1M	100	1SCHB 2SOXX 3SCHF Top holdings2020-12-31 1.SCHB 2.SOXX 3.SCHF 4.SPY 5.TLT 6.SCHA 7.SDY 8.AAPL 9.SCHM 10.SCHD
2020-09-30	146	$320.9M	100	1VB 2QLD 3VO Top holdings2020-09-30 1.VB 2.QLD 3.VO 4.STIP 5.LDUR 6.QLTA 7.WTRG 8.VEA 9.BOND 10.VOO
2020-06-30	141	$291.1M	100	1SOXX 2SCHB 3SCHH Top holdings2020-06-30 1.SOXX 2.SCHB 3.SCHH 4.SCHF 5.SPY 6.SDY 7.SCHA 8.SCHD 9.SCHM 10.DBO
2020-03-31	134	$153.7M	100	1TFI 2LLY 3FLRN Top holdings2020-03-31 1.TFI 2.LLY 3.FLRN 4.PFF 5.QQQ 6.FNDX 7.GSIE 8.SCHF 9.TLT 10.BRK-A
2019-12-31	145	$268.8M	13	1SCHB 2SOXX 3SCHA Top holdings2019-12-31 1.SCHB 2.SOXX 3.SCHA 4.SCHM 5.TLT 6.SDY 7.SCHD 8.LEG 9.SCHF 10.SCHX
2019-09-30	141	$248.2M	8	1SCHB 2SOXX 3SCHA Top holdings2019-09-30 1.SCHB 2.SOXX 3.SCHA 4.TLT 5.SCHM 6.SDY 7.SCHD 8.SCHF 9.SCHE 10.SCHX
2019-06-30	137	$242.2M	18	1SCHB 2SOXX 3SCHA Top holdings2019-06-30 1.SCHB 2.SOXX 3.SCHA 4.SCHM 5.TLT 6.SDY 7.SCHD 8.LQD 9.SCHE 10.SCHX
2019-03-31	487	$240.4M	33	1SCHB 2SCHM 3SOXX Top holdings2019-03-31 1.SCHB 2.SCHM 3.SOXX 4.SCHA 5.LQD 6.SDY 7.SCHD 8.LEG 9.TLT 10.SCHE
2018-12-31	411	$217.0M	0	1SCHB 2TLT 3SCHA Top holdings2018-12-31 1.SCHB 2.TLT 3.SCHA 4.SCHM 5.SDY 6.SOXX 7.SCHD 8.LEG 9.SPY 10.VPU

Holding changes this quarter

Position changes disclosed by First National CORP /ma/ /adv for the quarter ending 2025-09-30, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	AGG	Ishares Core U.s. Aggregate	+2.5%	-0.14%	Add
2	USFR	Wisdomtree Floating Rate Tre	+1.3%	+3.30%	Add
3	QLD	Proshares Ultra Qqq	+0.9%	+13.17%	Add
4	ITA	Ishares U.s. Aerospace & Def	+0.6%	+24.57%	Add
5	QQQ	Invesco Qqq Trust Series 1	+0.3%	-3.80%	Add
6	SCHA	Schwab US Small-cap ETF	+0.3%	+2.71%	Add
7	MSFT	Microsoft CORP	+0.3%	+4.33%	Add
8	NVDA	Nvidia CORP	+0.2%	+11.55%	Add
9	SPY	Ss Spdr S&p 500 ETF Trust-us	+0.2%	-0.46%	Add
10	GOOGL	Alphabet Inc-cl A	+0.2%	-0.85%	Trim
11	VB	Vanguard Small-cap ETF	+0.2%	+1.88%	Add
12	SCHX	Schwab US Large-cap ETF	+0.2%	+1.47%	Add
13	GOOG	Alphabet Inc-cl C	+0.1%	+3.22%	Add
14	SCHB	Schwab US Broad Market ETF	+0.1%	+0.12%	Trim
15	DGRO	Ishares Core Dividend Growth	+0.1%	+5.75%	Add
16	BOND	Pimco Active Bond Exchange-t	+0.1%	+9.98%	Add
17	CGXU	Cap Group Intl Focus	+0.1%	+186.22%	Add
18	VO	Vanguard Mid-cap ETF	+0.1%	+1.04%	Add
19	GME	Gamestop Corp-class A	+0.1%	+0.04%	Add
20	TSLA	Tesla INC	+0.1%	+7.47%	Add
21	GSIE	Goldman Sachs Activebeta Int	+0.1%	+3.84%	Add
22	VOO	Vanguard S&p 500 ETF	+0.1%	+0.98%	Add
23	XCEM	Columbia Em Core Ex-china	+0.1%	-0.05%	Add
24	SOXX	Ishares Semiconductor ETF	+0.1%	+5.20%	Trim
25	VRP	Invesco Variable Rate Prefer	+0.1%	+12.26%	Add
26	SCHM	Schwab US Mid Cap ETF	0%	-1.14%	Add
27	SCHF	Schwab Intl Equity ETF	0%	+0.54%	Trim
28	VEA	Vanguard Ftse Developed ETF	0%	+0.06%	Add
29	AMZN	Amazon.com INC	0%	-1.31%	Add
30	IVV	Ishares Core S&p 500 ETF	0%	—	Trim
31	LDUR	Pimco Enhanced Low Duration	—	+10.42%	Add
32	DFAI	Dimensional International Co	0%	+5.22%	Trim
33	HTO	H2o America	-0.2%	-1.83%	Trim
34	V	Visa Inc-class A Shares	-0.2%	-54.65%	Trim
35	WTRG	Essential Utilities INC	-0.2%	-4.69%	Trim
36	AWR	American States Water Co	-0.2%	-0.31%	Trim
37	CWT	California Water Service Grp	-0.2%	-5.80%	Trim
38	AWK	American Water Works Co INC	-0.2%	-5.39%	Trim
39	KBWP	Invesco Kbw Property & Casua	-0.2%	-45.66%	Trim
40	COST	Costco Wholesale CORP	-0.3%	-23.35%	Trim
41	AAPL	Apple INC	-0.3%	-1.41%	Trim
42	TBT	Proshares Ultrashort 20+y Tr	-0.4%	-7.06%	Trim
43	VPU	Vanguard Utilities ETF	-0.9%	-3.64%	Trim
44	GLD	Spdr Gold Shares	-1.4%	-9.44%	Trim
45	TLT	Ishares 20+ Year Treasury Bd	-1.4%	+15.19%	Trim
46	SH	Proshares Short S&p500	-2.2%	-13.74%	Trim
47	IMTB	Ishares Core 5-10 Year Usd	—	NEW	New buy
48	SSO	Proshares Ultra S&p500	—	EXIT	Sold out
49	JIVE	JPM Interntl Value ETF	—	NEW	New buy
50	PLTR	Palantir Technologies Inc-a	—	NEW	New buy

Filing History

Period	Filed	Type	EDGAR
2025-09-30	2025-10-28	13F-HR	View on EDGAR
2025-06-30	2025-07-08	13F-HR	View on EDGAR
2025-03-31	2025-04-11	13F-HR	View on EDGAR
2024-12-31	2025-01-29	13F-HR	View on EDGAR
2024-09-30	2024-10-08	13F-HR	View on EDGAR
2024-06-30	2024-07-12	13F-HR	View on EDGAR
2024-03-31	2024-04-15	13F-HR	View on EDGAR
2023-12-31	2024-01-18	13F-HR	View on EDGAR
2023-09-30	2023-10-24	13F-HR	View on EDGAR
2023-06-30	2023-07-31	13F-HR	View on EDGAR
2023-03-31	2023-04-28	13F-HR	View on EDGAR
2022-12-31	2023-01-26	13F-HR	View on EDGAR
2022-09-30	2022-10-24	13F-HR	View on EDGAR
2022-06-30	2022-07-18	13F-HR	View on EDGAR
2022-03-31	2022-04-26	13F-HR	View on EDGAR
2021-12-31	2022-01-28	13F-HR	View on EDGAR
2021-09-30	2021-11-09	13F-HR	View on EDGAR
2021-06-30	2021-07-30	Amendment	View on EDGAR
2021-06-30	2021-07-30	13F-HR	View on EDGAR
2021-03-31	2021-05-10	13F-HR	View on EDGAR
2020-12-31	2021-02-08	13F-HR	View on EDGAR
2020-09-30	2020-10-22	13F-HR	View on EDGAR
2020-06-30	2020-07-21	13F-HR	View on EDGAR
2020-03-31	2020-04-16	13F-HR	View on EDGAR
2019-12-31	2020-01-31	13F-HR	View on EDGAR
2019-09-30	2019-10-24	13F-HR	View on EDGAR
2019-06-30	2019-07-30	13F-HR	View on EDGAR
2019-03-31	2019-06-18	Amendment	View on EDGAR
2019-03-31	2019-06-12	13F-HR	View on EDGAR
2018-12-31	2019-06-12	13F-HR	View on EDGAR