FIRST UNITED BANK & TRUST

CIK 0001214183 · Q1 2026

13F Equity AUM

$307.9M

-1.7% QoQ

Positions

394

+2 QoQ

AUM Rank

#5,792

Top 47%

Skill Alpha (FF)

-1.3%/yr^ns

No Clear Edge

Rank #4,156 · Top 51%

vs S&P -4.7%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 22.3%Top 10: 36.4%Top 20: 52.8%

NDQ6.2%

VTV5.7%

DVY3.7%

VOO3.6%

VO3.1%

VUG3.1%

IEFA3.0%

AAPL2.8%

RSP2.7%

IEMG2.5%

Others (384)63.6%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services65.8%

Technology9.7%

Healthcare4.3%

Consumer Cyclical4.2%

Industrials4.0%

Communication Services3.2%

Energy2.8%

Consumer Defensive2.7%

Other3.3%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 394Median: 0.03%Avg: 0.25%

0–0.5%

342(22.5%)

0.5–1%

28(20.1%)

1–3%

18(32.0%)

3–5%

4(13.6%)

5%+

2(11.8%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 388Unique: 6vs 20 funds

5.3%Low

394

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

7.3%

BANK OF AMERICA CORP /DE/

8.1%

7.7%

8.7%

11.8%

8.6%

VANGUARD CAPITAL MANAGEMENT LLC

GEODE CAPITAL MANAGEMENT, LLC

7.8%

VANGUARD PORTFOLIO MANAGEMENT LLC

9.3%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New20Increased57Decreased135Exited19

New Positions

PVAL0.4%

+26K

FTRB0.1%

+10K

WDC0.0%

+380

MU0.0%

+260

TGB0.0%

+12K

BCGD0.0%

+2K

STX0.0%

+190

SNDK0.0%

+85

ACNB0.0%

+990

WULF0.0%

+3K

Increased

IEMG2.5%

+42K(+61%)

IEFA3.0%

+23K(+28%)

STIP0.7%

+14K(+222%)

DVY3.7%

+10K(+15%)

VO3.1%

+10K(+40%)

RSP2.7%

+10K(+28%)

PMIO0.3%

+8K(+70%)

FBCG0.2%

+8K(+217%)

VB2.0%

+7K(+42%)

ETHA0.1%

+6K(+88%)

Decreased

ANET1.1%

-11,602(-29%)

BKLN0.3%

-9,296(-17%)

ESG0.9%

-7,220(-28%)

NVDA1.3%

-6,781(-23%)

FLOT0.2%

-6,655(-33%)

SPGP1.3%

-6,315(-15%)

GOOGL1.6%

-5,381(-24%)

PANW0.1%

-4,440(-81%)

XLK0.3%

-4,412(-44%)

NOW0.0%

-4,225(-91%)

Exited

-2,819

-775

-1,040

-979

-1,581

-38

-1

-45

-31

-4

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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