FIRST NATIONAL CORP /MA/ /ADV — 13F Holdings & Portfolio
CIK 816192 · latest 13F-HR filed 2025-10-28
FIRST NATIONAL CORP /MA/ /ADV manages $527.5M in 13F-reported U.S. long-equity assets across 174 reported positions as of its 2025-09-30 13F-HR filing. Its largest disclosed positions are SPY (6.50%), USFR (4.92%), SCHB (4.80%). Quarter over quarter (versus its 2025-06-30 filing) the fund opened 21 new positions and exited 10; 84 existing positions rose in reported value and 33 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
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AUM
$527.5M
Long-equity book
Holdings
174
Distinct positions
Period
2025-09-30
Filed 2025-10-28
Q/Q Activity
+21 / −10 / ↑84 / ↓33
vs 2025-06-30
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q3 25SPY6.5% · -0%USFR4.9% · +3%SCHB4.8% · +0%GLD3.7% · -9%SCHX3.7% · +2%SCHA3.1% · +3%SCHD3.1% · +1%SCHM3.1% · -1%AAPL3.0% · -1%VO2.8% · +1%AGG2.6% · -0%VB2.5% · +2%QLD2.3% · +13%IMTB2.1% · -2%QQQ2.1% · -4%BOND1.9% · +10%LDUR1.9% · +10%TLT1.9% · +15%DFAI1.9% · +5%SH1.9% · -14%SDY1.7% · -0%SCHF1.6% · +0%DGRO1.6% · +6%VNQ1.3% · -0%GSIE1.2% · +4%TBT1.1% · -7%ITA1.0% · +25%VEA1.0% · +0%MSFT0.9% · +4%VOO0.8% · +1%VPU0.8% · -4%GOOGL0.8% · -1%SOXX0.7% · +5%IVV0.7% · 0%AMZN0.7% · -1%XCEM0.7% · -0%LLY0.6% · -0%NVDA0.6% · +12%VRP0.6% · +12%BRK.A0.6% · 0%KBWP0.5% · -46%CWB0.5% · 0%COST0.5% · -23%GOOG0.5% · +3%FNDX0.5% · -3%EFA0.5% · 0%ICF0.4% · +11%FLRN0.4% · +1%FNDB0.4% · +2%BNDX0.4% · -0%IJH0.4% · 0%IJR0.4% · +0%SCHP0.4% · +2%TFI0.4% · 0%VTV0.4% · -1%JNJ0.3% · -2%WTRG0.3% · -5%FREL0.3% · +1%HTO0.3% · -2%AWR0.3% · -0%
Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q2 25 → Q3 25Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
2 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 38.7%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated Jun 16, 2026.
Assets Under Management
$7.37B
Discretionary
$7.37B
Employees
35
Accounts
3,823
Address
14010 FNB PARKWAY
SUITE 200
OMAHA, NE 68154
SUITE 200
OMAHA, NE 68154
Phone
(800) 538-7298
Mailing Address
1601 DODGE STREET, OMAHA, NE, 68197
This firm reports 3 disclosure items on its registration.
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| BADALUCCO, BRETT, MICHAEL Control | CHIEF COMPLIANCE OFFICER since Jun 2026 | Less than 5% | Individual |
| FIRST NATIONAL BANK OF OMAHA Control | MEMBER since Jul 2015 | 75% or more | Domestic Entity |
| O'CONNOR, LAURA, BETH Control | OFFICER since Jun 2026 | Less than 5% | Individual |
| THOMPSON, JEFFREY, BURROUGHS Control | OFFICER since Jun 2026 | Less than 5% | Individual |
| VANNEMAN, JOHN, RUSSEL Control | CHIEF INVESTMENT OFFICER since Feb 2026 | Less than 5% | Individual |
| FIRST NATIONAL OF NEBRASKA, INC. Control Indirect owner via FIRST NATIONAL BANK OF OMAHA | SHAREHOLDER - COMMON since Jan 1969 | 75% or more | Domestic Entity |
| FIRST NATIONAL BANK OF OMAHA Indirect owner via JOHN R. LAURITZEN IRREVOCABLE TRUST F/B/O CLARK D. LAURITZEN & FAMILY | TRUSTEE since Dec 2024 | General partner, trustee or manager | Domestic Entity |
| JOHN R. LAURITZEN IRREVOCABLE TRUST F/B/O CLARK D. LAURITZEN & FAMILY Indirect owner via LAURITZEN CORPORATION | DIRECT OWNER since Jun 1984 | 25–50% | Domestic Entity |
| LAURITZEN CORPORATION Indirect owner via FIRST NATIONAL OF NEBRASKA, INC. | DIRECT OWNER since Jun 1997 | 25–50% | Domestic Entity |
Ownership & leadership changes · 12 filings with changes since Jul 21, 2015
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
Jun 16, 2026 filing
- No longer listedMOORE, ALBERT, ASHOK · CHIEF COMPLIANCE OFFICER · Less than 5% · listed since Jan 2024
- No longer listedSALL, CRAIG, MICHAEL · PRESIDENT · Less than 5% · control person · listed since Sep 2022
- AddedBADALUCCO, BRETT, MICHAEL · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- AddedO'CONNOR, LAURA, BETH · OFFICER · Less than 5% · control person
- AddedTHOMPSON, JEFFREY, BURROUGHS · OFFICER · Less than 5% · control person
Mar 19, 2026 filing
- No longer listedAUMAN, STACY, ALAN · DIRECTOR · Less than 5% · control person · listed since Jul 2015
- No longer listedFIRST NATIONAL BANK OF OMAHA · TRUSTEE · General partner, trustee or manager · indirect via THE JOHN R. LAURITZEN 1972 TRUST F/B/O CLARK D. LAURITZEN & FAMILY · listed since Dec 2024
- No longer listedSPIELER, KURTIS, DEENE · DIRECTOR · Less than 5% · control person · listed since May 2021
- No longer listedTHE JOHN R. LAURITZEN 1972 TRUST F/B/O CLARK D. LAURITZEN & FAMILY · DIRECT OWNER · 25–50% · indirect via THE LAURITZEN CORP · listed since Jun 1984
- No longer listedTHE LAURITZEN CORP · DIRECT OWNER · 25–50% · indirect via FIRST NATIONAL OF NEBRASKA, INC. · listed since Jun 1997
- AddedFIRST NATIONAL BANK OF OMAHA · TRUSTEE · General partner, trustee or manager · indirect via JOHN R. LAURITZEN IRREVOCABLE TRUST F/B/O CLARK D. LAURITZEN & FAMILY
- AddedJOHN R. LAURITZEN IRREVOCABLE TRUST F/B/O CLARK D. LAURITZEN & FAMILY · DIRECT OWNER · 25–50% · indirect via LAURITZEN CORPORATION
- AddedLAURITZEN CORPORATION · DIRECT OWNER · 25–50% · indirect via FIRST NATIONAL OF NEBRASKA, INC.
- AddedVANNEMAN, JOHN, RUSSEL · CHIEF INVESTMENT OFFICER · Less than 5% · control person
- ChangedSALL, CRAIG, MICHAEL · title DIRECTOR → PRESIDENT
Oct 21, 2025 filing
- ChangedMOORE, ALBERT, ASHOK · no longer a control person
Mar 26, 2025 filing
- AddedFIRST NATIONAL BANK OF OMAHA · TRUSTEE · General partner, trustee or manager · indirect via THE JOHN R. LAURITZEN 1972 TRUST F/B/O CLARK D. LAURITZEN & FAMILY
- AddedTHE JOHN R. LAURITZEN 1972 TRUST F/B/O CLARK D. LAURITZEN & FAMILY · DIRECT OWNER · 25–50% · indirect via THE LAURITZEN CORP
- AddedTHE LAURITZEN CORP · DIRECT OWNER · 25–50% · indirect via FIRST NATIONAL OF NEBRASKA, INC.
Jan 17, 2024 filing
- No longer listedALANIZ, LORENZO, ERIC · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Feb 2022
- AddedMOORE, ALBERT, ASHOK · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Sep 19, 2022 filing
- AddedSALL, CRAIG, MICHAEL · DIRECTOR · Less than 5% · control person
Mar 23, 2022 filing
- No longer listedRICHTER, CHARLES, HENRY · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Jan 2019
- AddedALANIZ, LORENZO, ERIC · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
May 28, 2021 filing
- No longer listedENGELMANN, RICHARD, ALVIN · PORTFOLIO MANAGER · Less than 5% · control person · listed since Jul 2015
- AddedSPIELER, KURTIS, DEENE · DIRECTOR · Less than 5% · control person
Jan 31, 2019 filing
- No longer listedSOMELOFSKE, THOMAS, JOSEPH · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Mar 2018
- AddedRICHTER, CHARLES, HENRY · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Mar 29, 2018 filing
- No longer listedHOFFMAN, DOUGLAS, EDWARD · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Mar 2016
- AddedSOMELOFSKE, THOMAS, JOSEPH · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Older changes (3 more filings)
Mar 29, 2016 filing
- No longer listedBLACKBURN, CELESTE, MARIE · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Jul 2015
- AddedHOFFMAN, DOUGLAS, EDWARD · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Jul 27, 2015 filing
- ChangedAUMAN, STACY, ALAN · title DIRECTOR, INVESTMENT MANAGEMENT → DIRECTOR
- ChangedENGELMANN, RICHARD, ALVIN · title PORTFOLIO MANAGER, INVESTMENT MANAGEMENT → PORTFOLIO MANAGER
- ChangedFIRST NATIONAL BANK OF OMAHA · title DIRECT → MEMBER
Jul 21, 2015 filing (earliest on record)
- ListedAUMAN, STACY, ALAN · DIRECTOR, INVESTMENT MANAGEMENT · Less than 5% · control person
- ListedBLACKBURN, CELESTE, MARIE · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ListedENGELMANN, RICHARD, ALVIN · PORTFOLIO MANAGER, INVESTMENT MANAGEMENT · Less than 5% · control person
- ListedFIRST NATIONAL BANK OF OMAHA · DIRECT · 75% or more · control person
- ListedFIRST NATIONAL OF NEBRASKA, INC. · SHAREHOLDER - COMMON · 75% or more · indirect via FIRST NATIONAL BANK OF OMAHA · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- PROSHARES TR$3.1M +33.2%
- APPLE INC$2.9M +22.8%
- SPDR S&P 500 ETF TR$2.4M +7.7%
- SCHWAB STRATEGIC TR$2.0M +8.4%
- SCHWAB STRATEGIC TR$2.0M +13.4%
Top Trims
- PROSHARES TR-$2.5M -20.0%
- INVESCO EXCH TRADED FD TR II-$2.4M -45.5%
- COSTCO WHSL CORP NEW-$1.0M -29.0%
- VISA INC-$774.8K -55.6%
- PROSHARES TR-$668.7K -10.7%
New Positions
- J P MORGAN EXCHANGE TRADED F$923.6K
- ISHARES TR$490.7K
- ISHARES TR$433.2K
- ISHARES TR$383.4K
- INTEL CORP$345.5K
Exited Positions
- PROSHARES TR$3.1M
- AFLAC INC$421.8K
- DEERE & CO$315.5K
- UNION PAC CORP$282.9K
- EMERSON ELEC CO$282.9K
FIRST NATIONAL CORP /MA/ /ADV Holdings (2025-09-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | SPDR S&P 500 ETF TR | SPY | 78462F103 | $34.3M | 6.50% | 51,279 | SH |
| 2 | WISDOMTREE TR | USFR | 97717Y527 | $26.0M | 4.92% | 516,218 | SH |
| 3 | SCHWAB STRATEGIC TR | SCHB | 808524102 | $25.3M | 4.80% | 980,783 | SH |
| 4 | SPDR GOLD TR | GLD | 78463V107 | $19.5M | 3.70% | 54,862 | SH |
| 5 | SCHWAB STRATEGIC TR | SCHX | 808524201 | $19.4M | 3.69% | 735,355 | SH |
| 6 | SCHWAB STRATEGIC TR | SCHA | 808524607 | $16.5M | 3.13% | 591,472 | SH |
| 7 | SCHWAB STRATEGIC TR | SCHD | 808524797 | $16.5M | 3.12% | 598,268 | SH |
| 8 | SCHWAB STRATEGIC TR | SCHM | 808524508 | $16.3M | 3.10% | 548,491 | SH |
| 9 | APPLE INC | AAPL | 037833100 | $15.7M | 2.97% | 61,283 | SH |
| 10 | VANGUARD INDEX FDS | VO | 922908629 | $14.8M | 2.80% | 50,386 | SH |
| 11 | ISHARES TR | AGG | 464287226 | $13.8M | 2.62% | 137,885 | SH |
| 12 | VANGUARD INDEX FDS | VB | 922908751 | $13.4M | 2.54% | 52,519 | SH |
| 13 | PROSHARES TR | QLD | 74347R206 | $12.4M | 2.34% | 89,256 | SH |
| 14 | ISHARES TR | IMTB | 46435G417 | $11.3M | 2.14% | 255,724 | SH |
| 15 | INVESCO QQQ TR | QQQ | 46090E103 | $10.9M | 2.07% | 18,135 | SH |
| 16 | PIMCO ETF TR | BOND | 72201R775 | $10.0M | 1.89% | 107,131 | SH |
| 17 | PIMCO ETF TR | LDUR | 72201R718 | $9.9M | 1.88% | 103,464 | SH |
| 18 | ISHARES TR | TLT | 464287432 | $9.9M | 1.88% | 110,835 | SH |
| 19 | DIMENSIONAL ETF TRUST | DFAI | 25434V203 | $9.9M | 1.88% | 270,394 | SH |
| 20 | PROSHARES TR | SH | 74349Y753 | $9.8M | 1.86% | 267,087 | SH |
| 21 | SPDR SERIES TRUST | SDY | 78464A763 | $8.8M | 1.67% | 62,974 | SH |
| 22 | SCHWAB STRATEGIC TR | SCHF | 808524805 | $8.3M | 1.57% | 352,770 | SH |
| 23 | ISHARES TR | DGRO | 46434V621 | $8.2M | 1.56% | 120,248 | SH |
| 24 | VANGUARD INDEX FDS | VNQ | 922908553 | $6.7M | 1.27% | 72,915 | SH |
| 25 | GOLDMAN SACHS ETF TR | GSIE | 381430107 | $6.2M | 1.17% | 148,888 | SH |
| 26 | PROSHARES TR | TBT | 74347B201 | $5.6M | 1.06% | 165,398 | SH |
| 27 | ISHARES TR | ITA | 464288760 | $5.3M | 1.01% | 25,386 | SH |
| 28 | VANGUARD TAX-MANAGED FDS | VEA | 921943858 | $5.2M | 0.99% | 86,558 | SH |
| 29 | MICROSOFT CORP | MSFT | 594918104 | $4.5M | 0.86% | 8,706 | SH |
| 30 | VANGUARD INDEX FDS | VOO | 922908363 | $4.4M | 0.83% | 7,121 | SH |
| 31 | VANGUARD WORLD FD | VPU | 92204A876 | $4.3M | 0.82% | 22,566 | SH |
| 32 | ALPHABET INC | GOOGL | 02079K305 | $4.2M | 0.80% | 17,156 | SH |
| 33 | ISHARES TR | SOXX | 464287523 | $3.9M | 0.75% | 14,293 | SH |
| 34 | ISHARES TR | IVV | 464287200 | $3.8M | 0.73% | 5,704 | SH |
| 35 | AMAZON COM INC | AMZN | 023135106 | $3.6M | 0.69% | 16,398 | SH |
| 36 | COLUMBIA ETF TR II | XCEM | 19762B202 | $3.6M | 0.68% | 98,807 | SH |
| 37 | ELI LILLY & CO | LLY | 532457108 | $3.3M | 0.63% | 4,028 | SH |
| 38 | NVIDIA CORPORATION | NVDA | 67066G104 | $3.2M | 0.61% | 17,128 | SH |
| 39 | INVESCO EXCH TRADED FD TR II | VRP | 46138G870 | $3.2M | 0.60% | 128,319 | SH |
| 40 | BERKSHIRE HATHAWAY INC DEL | BRK.A | 084670108 | $3.0M | 0.57% | 4 | SH |
| 41 | INVESCO EXCH TRADED FD TR II | KBWP | 46138E586 | $2.8M | 0.54% | 22,981 | SH |
| 42 | SPDR SERIES TRUST | CWB | 78464A359 | $2.8M | 0.52% | 30,188 | SH |
| 43 | COSTCO WHSL CORP NEW | COST | 22160K105 | $2.6M | 0.49% | 2,793 | SH |
| 44 | ALPHABET INC | GOOG | 02079K107 | $2.5M | 0.47% | 10,029 | SH |
| 45 | SCHWAB STRATEGIC TR | FNDX | 808524771 | $2.5M | 0.46% | 92,763 | SH |
| 46 | ISHARES TR | EFA | 464287465 | $2.5M | 0.46% | 26,029 | SH |
| 47 | ISHARES TR | ICF | 464287564 | $2.4M | 0.45% | 38,374 | SH |
| 48 | SPDR SERIES TRUST | FLRN | 78468R200 | $2.3M | 0.43% | 73,650 | SH |
| 49 | SCHWAB STRATEGIC TR | FNDB | 808524789 | $2.2M | 0.43% | 86,927 | SH |
| 50 | VANGUARD CHARLOTTE FDS | BNDX | 92203J407 | $2.2M | 0.42% | 45,191 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2025-09-30 | 2025-10-28 | $527.5M | 174 | 0001951757-25-001210 |
| 2025-06-30 | 2025-07-08 | $496.0M | 163 | 0001951757-25-000583 |