FIRST UNITED BANK & TRUST
Long book
$307.9M
Q1 2026
Positions
395
Top-10 weight
36%
concentration
Last quarter
+12.2%
SPY +14.8%
Turnover
9%
of book per quarter
Strategy in plain words
auto-generated from filingsFIRST UNITED BANK & TRUST is a wealth-management firm allocating client money, running a $307.9M US long book across 395 positions.
The portfolio is moderately concentrated (top 10 ≈ 36% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: INVESCO QQQ TRUST SERIES 1, VANGUARD VALUE ETF, ISHARES SELECT DIVIDEND ETF, VANGUARD S&P 500 ETF, VANGUARD MID-CAP ETF.
Over the last 9 quarters its long book ran on average 0.8pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+1.9%
Q2 2024
+6.9%
Q3 2024
+0.5%
Q4 2024
-2.9%
Q1 2025
+7.9%
Q2 2025
+7.1%
Q3 2025
+1.5%
Q4 2025
-1.8%
Q1 2026
+12.2%
Sector allocation
Technology 32%
Financials 14%
Consumer discretionary 13%
Industrials 11%
Healthcare 8%
Energy 6%
Utilities 6%
Other 4%
Long book by quarter
What does FIRST UNITED own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AAPL APPLE INC | Technology | 33.9K | $8.6M | 2.8% | -6.2% |
| MSFT MICROSOFT CORP | Technology | 14.6K | $5.4M | 1.8% | -4.7% |
| GOOGL ALPHABET INC-CL A | Technology | 17.2K | $4.9M | 1.6% | -23.8% |
| JPM JPMORGAN CHASE & CO | Financials | 15.7K | $4.6M | 1.5% | -9.2% |
| NVDA NVIDIA CORP | Technology | 22.1K | $3.9M | 1.3% | -23.5% |
| ANET ARISTA NETWORKS INC | Technology | 27.9K | $3.4M | 1.1% | -29.4% |
| MCD MCDONALD'S CORP | Consumer discretionary | 9.8K | $3.1M | 1.0% | -1.8% |
| LOW LOWE'S COS INC | Consumer discretionary | 12.4K | $2.9M | 1.0% | -8.5% |
| CVX CHEVRON CORP | Energy | 12.5K | $2.6M | 0.8% | +0.5% |
| PNC PNC FINANCIAL SERVICES GROUP | Financials | 12.1K | $2.5M | 0.8% | 0.0% |
| AMZN AMAZON.COM INC | Consumer discretionary | 11.7K | $2.4M | 0.8% | -3.1% |
| HON HONEYWELL INTERNATIONAL INC | Industrials | 10.7K | $2.4M | 0.8% | -3.3% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 2.4K | $2.3M | 0.8% | -6.1% |
| PG PROCTER & GAMBLE CO/THE | Other | 15.7K | $2.3M | 0.7% | -5.4% |
| SO SOUTHERN CO/THE | Utilities | 23.3K | $2.3M | 0.7% | -2.1% |
| CSX CSX CORP | Industrials | 51.7K | $2.1M | 0.7% | +1.5% |
| AMGN AMGEN INC | Healthcare | 5.9K | $2.1M | 0.7% | -1.2% |
| CSCO CISCO SYSTEMS INC | Technology | 26.5K | $2.1M | 0.7% | -1.6% |
| VLO VALERO ENERGY CORP | Energy | 8.3K | $2.1M | 0.7% | -0.2% |
| XOM EXXON MOBIL CORP | Energy | 11.2K | $1.9M | 0.6% | +9.8% |
| MA MASTERCARD INC - A | Services media | 3.7K | $1.9M | 0.6% | -8.2% |
| DHR DANAHER CORP | Technology | 9.3K | $1.8M | 0.6% | -7.7% |
| MTB M & T BANK CORP | Financials | 8.5K | $1.8M | 0.6% | +2.3% |
| JNJ JOHNSON & JOHNSON | Healthcare | 6.6K | $1.6M | 0.5% | -4.6% |
| ISRG INTUITIVE SURGICAL INC | Healthcare | 3.4K | $1.6M | 0.5% | -7.5% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 31.0K | $1.6M | 0.5% | +11.7% |
| ITW ILLINOIS TOOL WORKS | Industrials | 5.7K | $1.5M | 0.5% | +0.2% |
| CME CME GROUP INC | Financials | 5.0K | $1.5M | 0.5% | -4.3% |
| PEP PEPSICO INC | Consumer staples | 9.4K | $1.5M | 0.5% | -3.8% |
| ABT ABBOTT LABORATORIES | Healthcare | 14.3K | $1.5M | 0.5% | -10.6% |
| WMT WALMART INC | Consumer discretionary | 11.0K | $1.4M | 0.4% | -2.6% |
| PWR QUANTA SERVICES INC | Industrials | 2.5K | $1.4M | 0.4% | -3.6% |
| BX BLACKSTONE INC | Financials | 10.5K | $1.2M | 0.4% | -21.0% |
| ECL ECOLAB INC | Other | 4.3K | $1.1M | 0.4% | -2.4% |
| GEV GE VERNOVA INC | Industrials | 1.2K | $1.1M | 0.3% | -0.5% |
| FTNT FORTINET INC | Technology | 12.5K | $1.0M | 0.3% | -14.3% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 2.1K | $1.0M | 0.3% | -0.5% |
| MCK MCKESSON CORP | Consumer discretionary | 1.1K | $975K | 0.3% | +4.8% |
| WEC WEC ENERGY GROUP INC | Utilities | 8.0K | $931K | 0.3% | +4.4% |
| GOOG ALPHABET INC-CL C | Technology | 3.2K | $904K | 0.3% | -2.2% |
| TSLA TESLA INC | Industrials | 2.3K | $873K | 0.3% | +6.0% |
| HD HOME DEPOT INC | Consumer discretionary | 2.6K | $858K | 0.3% | Held |
| LLY ELI LILLY & CO | Healthcare | 887 | $816K | 0.3% | -0.9% |
| NEE NEXTERA ENERGY INC | Utilities | 8.6K | $798K | 0.3% | -2.7% |
| CVS CVS HEALTH CORP | Healthcare | 11.0K | $792K | 0.3% | -2.3% |
| ET ENERGY TRANSFER LP | Utilities | 40.6K | $784K | 0.3% | +1.8% |
| ERIE ERIE INDEMNITY COMPANY-CL A | Financials | 3.0K | $754K | 0.2% | Held |
| NOC NORTHROP GRUMMAN CORP | Technology | 1.1K | $744K | 0.2% | +3.0% |
| MCHP MICROCHIP TECHNOLOGY INC | Technology | 11.4K | $736K | 0.2% | +0.4% |
| PKG PACKAGING CORP OF AMERICA | Other | 3.4K | $718K | 0.2% | +0.2% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 21, 2026 | 560 | $307.9M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 21, 2026 | 557 | $313.3M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 27, 2025 | 584 | $308.1M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 18, 2025 | 551 | $286.9M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 15, 2025 | 562 | $267.7M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 16, 2025 | 526 | $275.3M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 15, 2024 | 527 | $278.3M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 12, 2024 | 557 | $268.7M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 29, 2024 | 577 | $270.1M | canonical | SEC ↗ |