SM
Southern Michigan Bank & Trust 13F Holdings & Recent Stock Buys (Q3 2026)
Southern Michigan Bank & TrustCIK: 0001173227
Momentum followerLong-term holder
Total reported value
$279.7M
Reporting period: 2026-09-30 · Number of holdings: 422
SOUTHERN MICHIGAN BANK & TRUST disclosed 422 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $279.7M and a quarterly turnover rate of 7.4%.
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Personality snowflake
- Concentration
- 36.41
- Portfolio Stability
- 7.44
- Momentum
- 100
- Sector conviction
- 53.66
- Diversification
- 100
- Sizing Uniformity
- 38.76
Southern Michigan Bank & Trust's disclosed holdings carry a Herfindahl concentration index of 0.091 — mathematically equivalent to about 11 equally-sized positions, well below its 422 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 6.12), 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 27% 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd SCHG
+2.3% $4.5M
Trim CAT
-17.7% -$1.3M
Trim BIV
+0.8% -$1.4M
Add NVDA
-0.6% $948.2K
Add AAPL
-2.0% $871.6K
Add MSFT
-2.7% $672.2K
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 422 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SCHG | Schwab US Large-cap Growth | ETF-Other | 20.41% | +1.72% | +2.29% | |
| 2 | SCHV | Schwab US Large-cap Value | ETF-Other | 12.54% | -0.08% | +3.25% | |
| 3 | BIV | Vanguard Intermediate-term B | ETF-Other | 11.39% | -0.44% | +0.82% | |
| 4 | GVI | Ishares Intermediate Governm | ETF-Other | 10.48% | -0.15% | +0.87% | |
| 5 | VO | Vanguard Mid-cap ETF | ETF-Other | 7.30% | -0.09% | +0.87% | |
| 6 | SPSB | Ss Spdr P St C CORP ETF | ETF-Other | 3.62% | +0.01% | +1.10% | |
| 7 | NVDA | Nvidia CORP | Stock-Tech | 2.86% | +0.35% | -0.61% | |
| 8 | AAPL | Apple Inc | Stock-Tech | 2.74% | +0.32% | -1.97% | |
| 9 | ✓ | Armstrong Global Holding Inc. Series A | Stock-Other | 1.71% | +0.01% | — | |
| 10 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.54% | -0.09% | -2.12% | |
| 11 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.12% | +0.03% | -2.24% | |
| 12 | MSFT | Microsoft CORP | Stock-Tech | 0.95% | +0.24% | -2.72% | |
| 13 | ABBV | Abbvie Inc | Stock-Healthcare | 0.87% | +0.03% | -1.08% | |
| 14 | IWF | Ishares Russell 1000 Growth | ETF-Other | 0.86% | -0.02% | -3.19% | |
| 15 | SDY | Ss Spdr S&p Dividend ETF | ETF-Other | 0.86% | -0.06% | -3.16% | |
| 16 | CAT | Caterpillar Inc | Stock-Industrials | 0.79% | -0.46% | -17.72% | |
| 17 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.64% | -0.05% | -4.14% | |
| 18 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.61% | +0.15% | +3.83% | |
| 19 | IWD | Ishares Russell 1000 Value E | ETF-Other | 0.60% | +0.01% | -1.35% | |
| 20 | V | Visa Inc-class A Shares | Stock-Financials | 0.56% | +0.01% | -3.52% | |
| 21 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.53% | +0.01% | -3.87% | |
| 22 | AVGO | Broadcom Inc | Stock-Tech | 0.51% | -0.03% | +0.57% | |
| 23 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.48% | -0.03% | -2.56% | |
| 24 | MU | Micron Technology Inc | Stock-Tech | 0.37% | +0.01% | +9.28% | |
| 25 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.35% | -0.02% | -3.26% | |
| 26 | NSC | Norfolk Southern CORP | Stock-Industrials | 0.35% | -0.01% | -2.22% | |
| 27 | CSCO | Cisco Systems Inc | Stock-Tech | 0.34% | -0.06% | -8.59% | |
| 28 | MA | Mastercard Inc - A | Stock-Financials | 0.33% | — | -6.93% | |
| 29 | SYK | Stryker CORP | Stock-Healthcare | 0.32% | -0.05% | -2.38% | |
| 30 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.30% | -0.04% | +3.43% | |
| 31 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.30% | +0.01% | +0.75% | |
| 32 | IJH | Ishares Core S&p Midcap ETF | ETF-Other | 0.29% | -0.02% | -1.21% | |
| 33 | GD | General Dynamics CORP | Stock-Industrials | 0.28% | -0.02% | -1.30% | |
| 34 | SO | Southern Co/the | Stock-Utilities | 0.28% | -0.05% | -2.46% | |
| 35 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.27% | — | +1.41% | |
| 36 | ABT | Abbott Laboratories | Stock-Healthcare | 0.27% | +0.01% | -4.91% | |
| 37 | HD | Home Depot Inc | Stock-Consumer Disc | 0.26% | -0.07% | -1.08% | |
| 38 | UNP | Union Pacific CORP | Stock-Industrials | 0.24% | -0.07% | -22.34% | |
| 39 | DE | Deere & Co | Stock-Industrials | 0.21% | -0.15% | -44.32% | |
| 40 | AMAT | Applied Materials Inc | Stock-Tech | 0.21% | -0.08% | +1.22% | |
| 41 | ✓ | Stock-Other | 0.21% | +0.21% | NEW | ||
| 42 | LRCX | Lam Research CORP | Stock-Tech | 0.21% | -0.06% | +0.17% | |
| 43 | WMT | Walmart Inc | Stock-Consumer Staples | 0.20% | -0.01% | +1.24% | |
| 44 | MO | Altria Group Inc | Stock-Consumer Staples | 0.20% | -0.04% | -12.81% | |
| 45 | PM | Philip Morris International | Stock-Consumer Staples | 0.20% | +0.01% | — | |
| 46 | ETN | Eaton Corporation plc | Stock-Industrials | 0.19% | -0.01% | -3.70% | |
| 47 | CIEN | Ciena CORP | Stock-Tech | 0.19% | -0.07% | — | |
| 48 | VNQ | Vanguard Real Estate ETF | ETF-Other | 0.18% | -0.01% | -2.92% | |
| 49 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.17% | +0.03% | +18.53% | |
| 50 | VTEB | Vanguard Tax-exempt Bond ETF | ETF-Other | 0.17% | -0.01% | — |
1–50 of 200
Portfolio Performance
Performance for Q4 2026
+1%
Performance Last 4 Quarters
+0.9%
Based on 5 months of available history
- Stdev
- +4.3%
- Beta
- +0.64
- Alpha
- -0.2%
- Max Drawdown
- -1.6%
- Annualized Perf
- +2.1%
- Batting Avg vs S&P
- +60%
- Sortino
- +0.87
- Stutzer
- —
- Treynor
- +0.03
- Sterling
- —
- Calmar
- +1.33
- Information Ratio
- -0.44
- Tracking Error
- +3.3%
- Stdev Down
- +2.5%
- Winning Months %
- +60%
- Losing Months %
- +40%
- Best 12 Months
- —
- Worst 12 Months
- —
- Efficiency Ratio
- +0.19
- Sharpe
- +0.51
- Stdev Sectors
- +8.9%
- Skewness
- -0.26
- Kurtosis
- -0.99
- Upside Potential
- +2.63
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Southern Michigan Bank & Trust's most significant position changes for 2026-09-30: New buy: ; Sold out: Exxon Mobil CORP (XOM); Sold out: Catalyst Pharmaceuticals Inc (CPRX); New buy: Farmers & Merchants Banco/oh (FMAO); Sold out: Nyli Mackay Muni Intrm ETF (MMIT).
Showing top 200 changes by size (of 452 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SCHG | Schwab US Large-cap Growth | +1.7% | +2.29% | Add |
| 2 | NVDA | Nvidia CORP | +0.4% | -0.61% | Trim |
| 3 | AAPL | Apple Inc | +0.3% | -1.97% | Trim |
| 4 | MSFT | Microsoft CORP | +0.2% | -2.72% | Trim |
| 5 | ✓ | +0.2% | NEW | New buy | |
| 6 | META | Meta Platforms Inc-class A | +0.2% | +3.83% | Add |
| 7 | BRK-B | Berkshire Hathaway Inc-cl B | 0% | +18.53% | Add |
| 8 | ABBV | Abbvie Inc | 0% | -1.08% | Trim |
| 9 | AMZN | Amazon.com Inc | 0% | -2.24% | Trim |
| 10 | VLO | Valero Energy CORP | 0% | — | Unchanged |
| 11 | CRM | Salesforce Inc | 0% | +1.52% | Add |
| 12 | TMO | Thermo Fisher Scientific Inc | 0% | -2.82% | Trim |
| 13 | COP | Conocophillips | 0% | -0.04% | Trim |
| 14 | PSX | Phillips 66 | 0% | — | Unchanged |
| 15 | TSLA | Tesla Inc | 0% | +48.00% | Add |
| 16 | FMAO | Farmers & Merchants Banco/oh | 0% | NEW | New buy |
| 17 | AMD | Advanced Micro Devices | 0% | +66.00% | Add |
| 18 | CMI | Cummins Inc | 0% | +119.57% | Add |
| 19 | PLTR | Palantir Technologies Inc-a | 0% | +8.37% | Add |
| 20 | SPSB | Ss Spdr P St C CORP ETF | 0% | +1.10% | Add |
| 21 | MCK | Mckesson CORP | 0% | — | Unchanged |
| 22 | SHEL | Shell Plc-adr | 0% | -0.53% | Trim |
| 23 | PM | Philip Morris International | 0% | — | Unchanged |
| 24 | PLD | Prologis Inc | 0% | +24.67% | Add |
| 25 | ABT | Abbott Laboratories | 0% | -4.91% | Trim |
| 26 | UI | Ubiquiti Inc | 0% | +19.39% | Add |
| 27 | DHR | Danaher CORP | 0% | +7.32% | Add |
| 28 | BLK | Blackrock Inc | 0% | +12.00% | Add |
| 29 | SNA | Snap-on Inc | 0% | +49.66% | Add |
| 30 | AMP | Ameriprise Financial Inc | 0% | -0.64% | Trim |
| 31 | BDX | Becton Dickinson And Co | 0% | — | Unchanged |
| 32 | PFE | Pfizer Inc | 0% | -0.64% | Trim |
| 33 | V | Visa Inc-class A Shares | 0% | -3.52% | Trim |
| 34 | FBTC | Fidelity Wise Origin Bitcoin | 0% | +4.07% | Add |
| 35 | JPM | Jpmorgan Chase & Co | 0% | +0.75% | Add |
| 36 | ACN | Accenture plc | 0% | — | Unchanged |
| 37 | IWD | Ishares Russell 1000 Value E | 0% | -1.35% | Trim |
| 38 | BMY | Bristol-myers Squibb Co | 0% | — | Unchanged |
| 39 | IAU | Ishares Gold Trust | 0% | +18.95% | Add |
| 40 | OEF | Ishares S&p 100 ETF | 0% | — | Unchanged |
| 41 | PH | Parker Hannifin CORP | 0% | +300.00% | Add |
| 42 | AMGN | Amgen Inc | 0% | — | Unchanged |
| 43 | VZ | Verizon Communications Inc | 0% | -1.59% | Trim |
| 44 | HAS | Hasbro Inc | 0% | — | Unchanged |
| 45 | MU | Micron Technology Inc | 0% | +9.28% | Add |
| 46 | LDOS | Leidos Holdings Inc | 0% | — | Unchanged |
| 47 | HPQ | Hp Inc | 0% | — | Unchanged |
| 48 | CVX | Chevron CORP | — | +0.50% | Add |
| 49 | FITB | Fifth Third Bancorp | — | -4.11% | Trim |
| 50 | INTC | Intel CORP | — | +8.42% | Add |
1–50 of 200
Filing History
FAQ
What is Southern Michigan Bank & Trust and what type of investor is it?
Southern Michigan Bank & Trust is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-09-30), the firm manages a tracked equity portfolio valued at approximately $279.7M, spread across 422 disclosed positions.
What are Southern Michigan Bank & Trust's largest equity positions?
Based on the latest 13F filing, Southern Michigan Bank & Trust's top holdings by market value are:
1. Schwab US Large-cap Growth (SCHG) — $57.1M (20.4%)
2. Schwab US Large-cap Value (SCHV) — $35.1M (12.5%)
3. Vanguard Intermediate-term B (BIV) — $31.9M (11.4%)
4. Ishares Intermediate Governm (GVI) — $29.3M (10.5%)
5. Vanguard Mid-cap ETF (VO) — $20.4M (7.3%)
What changes did Southern Michigan Bank & Trust make in its most recent portfolio filing?
In the latest reported quarter, Southern Michigan Bank & Trust made 145 notable position adjustments: 15 new positions were initiated, 51 existing holdings were added to, 70 positions were partially reduced, and 9 were completely exited. The largest of these moves: New buy: ; Sold out: Exxon Mobil CORP (XOM); Sold out: Catalyst Pharmaceuticals Inc (CPRX); New buy: Farmers & Merchants Banco/oh (FMAO); Sold out: Nyli Mackay Muni Intrm ETF (MMIT)
What sectors does Southern Michigan Bank & Trust focus on?
Southern Michigan Bank & Trust is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 34.2%
• Health Care: 12.3%
• Industrials: 12.0%
• Communication Services: 10.8%
• Consumer Discretionary: 8.6%
• Financials: 8.0%
Investment Profile
Southern Michigan Bank & Trust returned an annualized 2.1% over the trailing 5 months — underperforming the S&P 500 by 0.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.64 (less volatile than the market) and a 60% quarterly batting average against the index.
Its portfolio is moderately concentrated and long-term-holding, with 34.2% of the portfolio concentrated in Information Technology.
It has added to its SCHG position over the past two quarters (+$12.2M, now $57.1M), while trimming BIV over the same stretch (-$1.6M, still holding $31.9M).
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