FIRST NATIONAL CORP /MA/ /ADV

CIK 816192 · View on SEC EDGAR ↗

Portfolio value: $527.5M
Positions: 174
As of: Sept. 30, 2025 Data as of Q3 2025

Portfolio value QoQ: +6.3% 13F does not disclose cash

Top 10 holdings weight: 38.73%
Top 25 holdings weight: 67.06%
Positions above 1%: 27
Effective number of positions: 42.8

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q3 2025: 3.48% Est. buys $19,218,225 · sells $17,785,957

Median holding: 4.0 quarters Tracked Q4 2024–Q3 2025 · 94.1% still held

New positions: 21
Increased: 61
Decreased: 67
Closed: 10

On this page

Sector breakdown How the portfolio splits across market sectors.
Portfolio Every stock this institution reports holding, from its latest 13F.
High-conviction bets The holdings this manager is most concentrated in.
Biggest new bets Brand-new positions opened in the latest quarter.
Top moves The biggest position increases and decreases this quarter.
Exited positions Positions the manager fully sold out of last quarter.

Sector breakdown

Technology

5.5%

Utilities

2.1%

Healthcare

1.8%

Retail

1.7%

Communication Services

1.6%

Industrials

1.0%

Consumer products

0.6%

Financials

0.5%

Energy

0.4%

Financial Services

0.4%

Consumer Discretionary

0.3%

Telecommunication

0.2%

Consumer Staples

0.2%

Communications

0.1%

Materials

0.0%

Diversified Consumer Services

0.0%

Other/Unmapped

83.6%

Full portfolio 174 positions

					Streak
SPY SPY	$34,277,119	6.50%	51,279	$2,448,965	Down ×1
USFR	$25,955,456	4.92%	516,218	$813,152	Up ×3
SCHB	$25,304,192	4.80%	980,783	$1,960,326	Up ×1
GLD	$19,532,608	3.70%	54,862	$1,064,787	Down ×3
SCHX	$19,442,786	3.69%	735,355	$1,730,996	Up ×1
SCHA	$16,525,727	3.13%	591,472	$1,956,113	Up ×3
SCHD	$16,470,312	3.12%	598,268	$820,267	Up ×1
SCHM	$16,328,571	3.10%	548,491	$765,648	Down ×1
AAPL Apple Inc. - Common Stock	$15,654,797	2.97%	61,283	$2,901,510	Down ×3
VO	$14,786,205	2.80%	50,386	$832,598	Up ×3
AGG	$13,813,361	2.62%	137,885	$116,007	Down ×1
VB	$13,390,295	2.54%	52,519	$1,174,525	Up ×3
QLD	$12,363,750	2.34%	89,256	$3,080,080	Up ×2
IMTB	$11,287,670	2.14%	255,724	$-42,647	Down ×1
QQQ Invesco QQQ Trust, Series 1	$10,939,879	2.07%	18,135	$540,658	Down ×1
BOND PIMCO Active Bond Exchange-Traded Fund Exchange-Traded Fund	$9,982,444	1.89%	107,131	$1,003,276	Up ×3
LDUR	$9,923,225	1.88%	103,464	$943,685	Up ×3
TLT iShares 20+ Year Treasury Bond ETF	$9,896,457	1.88%	110,835	$1,404,954	Up ×1
DFAI	$9,890,994	1.88%	270,394	$1,006,919	Up ×1
SH	$9,834,143	1.86%	267,087	$-2,451,301	Down ×3
SDY	$8,815,047	1.67%	62,974	$248,412	Down ×2
SCHF	$8,279,512	1.57%	352,770	$525,197	Up ×1
DGRO	$8,216,529	1.56%	120,248	$945,574	Up ×3
VNQ	$6,676,076	1.27%	72,915	$181,842	Down ×1
GSIE	$6,159,477	1.17%	148,888	$472,834	Up ×3
TBT	$5,573,913	1.06%	165,398	$-668,713	Down ×3
ITA ITA	$5,312,020	1.01%	25,386	$1,467,725	Up ×2
VEA	$5,225,497	0.99%	86,558	$293,685	Up ×3
MSFT Microsoft Corporation - Common Stock	$4,524,735	0.86%	8,706	$373,616	Up ×2
VOO	$4,376,353	0.83%	7,121	$370,808	Up ×3
VPU	$4,307,645	0.82%	22,566	$174,036	Down ×2
GOOGL Alphabet Inc. - Class A Common Stock	$4,201,416	0.80%	17,156	$1,152,125	Down ×2
SOXX SOXX	$3,949,728	0.75%	14,293	$706,779	Up ×1
IVV	$3,832,397	0.73%	5,704	$290,644
AMZN Amazon.com, Inc. - Common Stock	$3,617,891	0.69%	16,398	$-27,274	Down ×1
XCEM	$3,611,392	0.68%	98,807	$232,463	Down ×1
LLY Eli Lilly and Company Common Stock	$3,324,620	0.63%	4,028	$171,305	Down ×1
NVDA NVIDIA Corporation - Common Stock	$3,207,105	0.61%	17,128	$781,279	Up ×1
VRP	$3,174,610	0.60%	128,319	$379,820	Up ×2
BRKA	$2,983,625	0.57%	4	$68,425
KBWP Invesco KBW Property & Casualty Insurance ETF	$2,832,358	0.54%	22,981	$-2,362,737	Down ×1
CWB	$2,756,768	0.52%	30,188	$261,841	Up ×3
COST Costco Wholesale Corporation - Common Stock	$2,562,147	0.49%	2,793	$-1,045,658	Down ×1
GOOG Alphabet Inc. - Class C Capital Stock	$2,462,494	0.47%	10,029	$739,002	Up ×3
FNDX	$2,450,798	0.46%	92,763	$103,351	Down ×1
EFA	$2,450,370	0.46%	26,029	$123,638
ICF	$2,365,767	0.45%	38,374	$245,055	Up ×3
FLRN	$2,264,001	0.43%	73,650	$9,650	Up ×3
FNDB	$2,242,717	0.43%	86,927	$199,021	Up ×1
BNDX Vanguard Total International Bond ETF	$2,231,532	0.42%	45,191	$-13,103	Down ×1
IJH	$2,097,851	0.40%	32,033	$111,155
IJR	$2,074,651	0.39%	17,408	$178,070	Up ×3
SCHP	$2,051,123	0.39%	76,222	$55,149	Up ×3
TFI	$2,014,355	0.38%	44,291	$35,876
VTV	$1,935,888	0.37%	10,360	$93,240	Down ×1
JNJ Johnson & Johnson Common Stock	$1,786,989	0.34%	9,605	$292,241	Down ×1
WTRG Essential Utilities, Inc. Common Stock	$1,759,245	0.33%	45,318	$-6,688	Down ×2
FREL	$1,734,310	0.33%	62,318	$62,265	Up ×1
HTO H2O America - Common Stock	$1,713,695	0.32%	36,238	$-204,674	Down ×2
AWR American States Water Company Common Stock	$1,679,599	0.32%	23,673	$-140,769	Down ×2
AWK American Water Works Company, Inc. Common Stock	$1,664,680	0.32%	12,234	$-134,151	Down ×2
CWT California Water Service Group Common Stock	$1,610,037	0.31%	36,140	$-134,849	Down ×2
LEG Leggett & Platt, Incorporated Common Stock	$1,589,263	0.30%	177,969	$1,458	Down ×1
VTI	$1,585,495	0.30%	4,815	$102,211	Down ×1
FNDE	$1,534,860	0.29%	42,271	$139,494
JPM JP Morgan Chase & Co. Common Stock	$1,415,719	0.27%	4,556	$138,649	Up ×1
IEFA	$1,412,553	0.27%	16,070	$-45,592	Down ×1
HDV	$1,410,366	0.27%	11,486	$-91,285	Down ×1
CORP	$1,375,787	0.26%	13,961	$60,448	Up ×1
META Meta Platforms, Inc. - Class A Common Stock	$1,373,130	0.26%	1,914	$5,304	Up ×1
ABT Abbott Laboratories Common Stock	$1,320,334	0.25%	9,892	$-212,711	Down ×1
GME GameStop Corporation Common Stock	$1,291,739	0.24%	46,650	$154,457	Up ×3
SPYX	$1,254,404	0.24%	22,782	$83,752	Down ×1
VWO	$1,208,708	0.23%	22,170	$112,180
SPTL	$1,152,526	0.22%	42,813	$78,694	Up ×1
ABBV AbbVie Inc. Common Stock	$1,137,796	0.22%	4,656	$228,277	Down ×1
ESGV	$1,124,721	0.21%	9,457	$61,871	Down ×1
DUK Duke Energy Corporation (Holding Company) Common Stock	$1,115,151	0.21%	9,111	$-98,769	Down ×3
IWV	$1,103,282	0.21%	2,902	$84,680
XOM Exxon Mobil Corporation Common Stock	$1,087,439	0.21%	9,710	$23,931	Down ×1
TSLA Tesla, Inc. - Common Stock	$1,083,279	0.21%	2,358	$386,421	Up ×3
CGXU	$1,062,378	0.20%	35,614	$724,799	Up ×1
SPGI S&P Global Inc. Common Stock	$1,021,140	0.19%	2,120	$-204,282	Down ×2
MRK Merck & Company, Inc. Common Stock (new)	$1,020,918	0.19%	11,327	$259,330	Up ×1
IBM International Business Machines Corporation Common Stock	$984,380	0.19%	3,436	$-55,899	Down ×1
PG Procter & Gamble Company (The) Common Stock	$975,897	0.19%	6,371	$56,836	Up ×3
HD Home Depot, Inc. (The) Common Stock	$927,169	0.18%	2,335	$103,206	Up ×1
JIVE JPMorgan International Value ETF	$923,607	0.18%	12,167		Up ×1
GD General Dynamics Corporation Common Stock	$888,979	0.17%	2,609	$278,675	Up ×2
SO Southern Company (The) Common Stock	$764,941	0.15%	8,069	$-34,347	Down ×1
VZ Verizon Communications Inc. Common Stock	$741,170	0.14%	16,910	$87,731	Up ×3
IVW	$729,581	0.14%	6,018	$43,218	Down ×2
ORCL Oracle Corporation Common Stock	$729,533	0.14%	2,524	$265,108	Up ×1
CSW CSW Industrials, Inc. Common Stock	$709,943	0.13%	2,815	$-106,662	Down ×1
DFIV	$683,417	0.13%	14,767	$50,946
CAT Caterpillar, Inc. Common Stock	$667,619	0.13%	1,388	$126,648	Down ×1
EFAX	$661,278	0.13%	13,309	$8,659	Down ×1
IWM	$626,083	0.12%	2,582	$68,936
PLTR Palantir Technologies Inc. - Class A Common Stock	$620,322	0.12%	3,354	$284,021	Up ×1
V Visa Inc.	$619,472	0.12%	1,781	$-774,779	Down ×1
No matches

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security	Value	% of portfolio	Streak
USFR	$25,955,456	4.92%	up ×3
SCHA	$16,525,727	3.13%	up ×3
VO	$14,786,205	2.80%	up ×3
VB	$13,390,295	2.54%	up ×3
BOND	$9,982,444	1.89%	up ×3
LDUR	$9,923,225	1.88%	up ×3
DGRO	$8,216,529	1.56%	up ×3
GSIE	$6,159,477	1.17%	up ×3
VEA	$5,225,497	0.99%	up ×3
VOO	$4,376,353	0.83%	up ×3
CWB	$2,756,768	0.52%	up ×3
GOOG	$2,462,494	0.47%	up ×3
ICF	$2,365,767	0.45%	up ×3
FLRN	$2,264,001	0.43%	up ×3
IJR	$2,074,651	0.39%	up ×3

Biggest new bets

New positions opened this quarter, largest first.

Security	Value	Shares	% of portfolio
JIVE	$923,607	12,167	0.18%
IHF	$490,686	9,945	0.09%
PFF	$433,247	13,652	0.08%
IBB	$383,395	2,582	0.07%
INTC	$345,453	9,612	0.07%
PEP	$344,920	2,410	0.07%
ADBE	$284,600	828	0.05%
SNOW	$257,294	1,116	0.05%
ABNB	$249,044	2,036	0.05%
PFE	$245,407	9,019	0.05%
HUBS	$236,414	537	0.04%
EIX	$224,163	3,983	0.04%
BAC	$220,762	4,356	0.04%
MU	$211,658	1,162	0.04%
MCHI	$209,350	3,160	0.04%

Top movers (QoQ)

Security	Action	Shares Δ	Value Δ
QLD	Bought more	+10K	+$3.1M
AAPL	Trimmed	-877	+$2.9M
SH	Trimmed	-43K	-$2.5M
SPY	Trimmed	-235	+$2.4M
KBWP	Trimmed	-19K	-$2.4M
SCHB	Bought more	+1K	+$2.0M
SCHA	Bought more	+16K	+$2.0M
SCHX	Bought more	+11K	+$1.7M
ITA	Bought more	+5K	+$1.5M
TLT	Bought more	+15K	+$1.4M

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

Security	Quarter	Shares before	Value before	Price since exit
SSO	Sept. 30, 2025	32,132	$3,139,939	No longer tracked
AFL	Sept. 30, 2025	4,000	$421,840	3.8%
DE	Sept. 30, 2025	620	$315,510	31.6%
UNP	Sept. 30, 2025	1,230	$282,944	27.6%
EMR	Sept. 30, 2025	2,122	$282,926	18.5%
PFF	June 30, 2025	8,545	$262,582
FWONK	Sept. 30, 2025	2,500	$261,250	0.1%
BLK	Sept. 30, 2025	233	$244,475	-1.2%
HUBS	March 31, 2025	345	$240,386	-57.9%
XLF	March 31, 2025	4,834	$233,646	No longer tracked
C	Sept. 30, 2025	2,736	$232,888	30.0%
GILD	Sept. 30, 2025	2,016	$223,514	31.0%
PFE	June 30, 2025	8,181	$207,307	14.8%
MS	March 31, 2025	1,648	$207,124	83.3%
ECL	Sept. 30, 2025	750	$202,080	3.9%
LCIDXXXX	June 30, 2025	10,435	$25,253	No longer tracked