First National Corp. /Ma/

Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 28, 2025), First National Corp. /Ma/ reported 174 stock positions worth $527.5 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 6.5% of the portfolio, followed by Wisdomtree Floating Rate Tre (USFR, 4.9%) and Schwab US Broad Market ETF (SCHB, 4.8%). Compared with Q2 2025, it opened 21 new positions, sold out of 10, added to 61 and reduced 67. The biggest buy was Proshares Ultra QQQ (QLD, shares +13%) and the biggest sale an exit from Proshares Ultra S&P500 (SSO).

Most Recent 13F: Q3 2025
Location: ROCKLAND, MA
CIK: 0000816192
Portfolio Value: $527.5M (Q3 2025)
SEC Filing: 0001951757-25-001210 ↗ filed Oct 28, 2025

Holdings Value

Holdings 174 stocks · $527.5M


SPY SS SPDR S&P 500 ETF Trust-US	6.50%	51,279	$34.3M	Reduce -0.5%
USFR Wisdomtree Floating Rate Tre	4.92%	516,218	$26.0M	Add +3.3%
SCHB Schwab US Broad Market ETF	4.80%	980,783	$25.3M	Add +0.1%
GLD SPDR Gold Shares	3.70%	54,862	$19.5M	Reduce -9.4%
SCHX Schwab US Large-Cap ETF	3.69%	735,355	$19.4M	Add +1.5%
SCHA Schwab US Small-Cap ETF	3.13%	591,472	$16.5M	Add +2.7%
SCHD Schwab US DVD Equity ETF	3.12%	598,268	$16.5M	Add +1.3%
SCHM Schwab US Mid Cap ETF	3.10%	548,491	$16.3M	Reduce -1.1%
AAPL Apple Inc.	2.97%	61,283	$15.7M	Reduce -1.4%
VO Vngrd Mrngstr MD-Cap ETF-Usd	2.80%	50,386	$14.8M	Add +1.0%
AGG iShares Core U.S. Aggregate	2.62%	137,885	$13.8M	Reduce -0.1%
VB Vanguard Most SM-Cap ETF-Usd	2.54%	52,519	$13.4M	Add +1.9%
QLD Proshares Ultra QQQ	2.34%	89,256	$12.4M	Add +13.2%
IMTB iShares Core 5-10 Year Usd	2.14%	255,724	$11.3M	Reduce -1.5%
QQQ Invesco QQQ Trust Series 1	2.07%	18,135	$10.9M	Reduce -3.8%
BOND PIMCO Active Bond Exchange-T	1.89%	107,131	$10.0M	Add +10.0%
LDUR PIMCO Enhanced Low Duration	1.88%	103,464	$9.9M	Add +10.4%
TLT iShares 20+ Year Treasury BD	1.88%	110,835	$9.9M	Add +15.2%
DFAI Dimensional International Co.	1.88%	270,394	$9.9M	Add +5.2%
SH Proshares Short S&P500	1.86%	267,087	$9.8M	Reduce -13.7%
SDY SS SPDR S&P Dividend ETF	1.67%	62,974	$8.8M	Reduce -0.2%
SCHF Schwab Intl Equity ETF	1.57%	352,770	$8.3M	Add +0.5%
DGRO iShares Core Dividend Growth	1.56%	120,248	$8.2M	Add +5.8%
VNQ Vanguard Real Estate ETF	1.27%	72,915	$6.7M	Reduce -0.0%
GSIE Goldman Sachs Activebeta Int	1.17%	148,888	$6.2M	Add +3.8%
TBT Proshares Ultrashort 20+Y TR	1.06%	165,398	$5.6M	Reduce -7.1%
ITA iShares U.S. Aerospace & Def	1.01%	25,386	$5.3M	Add +24.6%
VEA Vanguard Ftse Developed ETF	0.99%	86,558	$5.2M	Add +0.1%
MSFT Microsoft Corp.	0.86%	8,706	$4.5M	Add +4.3%
VOO Vanguard S&P 500 ETF	0.83%	7,121	$4.4M	Add +1.0%
VPU Vanguard Utilities ETF	0.82%	22,566	$4.3M	Reduce -3.6%
GOOGL Alphabet Inc. Class A	0.80%	17,156	$4.2M	Reduce -0.8%
SOXX iShares Semiconductor ETF	0.75%	14,293	$3.9M	Add +5.2%
IVV iShares Core S&P 500 ETF	0.73%	5,704	$3.8M	No change
AMZN Amazon.com Inc.	0.69%	16,398	$3.6M	Reduce -1.3%
XCEM Columbia Em Core Ex-China	0.68%	98,807	$3.6M	Reduce -0.1%
LLY Eli Lilly & Co.	0.63%	4,028	$3.3M	Reduce -0.4%
NVDA Nvidia Corp.	0.61%	17,128	$3.2M	Add +11.6%
VRP Invesco Variable Rate Prefer	0.60%	128,319	$3.2M	Add +12.3%
BRK.A Berkshire Hathaway Inc. Class A	0.57%	4	$3.0M	No change
KBWP Invesco KBW Property & Casua	0.54%	22,981	$2.8M	Reduce -45.7%
CWB SS SPDR BB Conv Sec ETF	0.52%	30,188	$2.8M	Add +0.0%
COST Costco Wholesale Corp.	0.49%	2,793	$2.6M	Reduce -23.4%
GOOG Alphabet Inc. Class C	0.47%	10,029	$2.5M	Add +3.2%
FNDX Schwab Fndmntl US LRG Co. ETF	0.46%	92,763	$2.5M	Reduce -3.0%
EFA iShares MSCI Eafe ETF	0.46%	26,029	$2.5M	No change
ICF iShares Select U.S. REIT ETF	0.45%	38,374	$2.4M	Add +10.7%
FLRN SS SPDR BB Ig Float RT ETF	0.43%	73,650	$2.3M	Add +0.7%
FNDB Schwab Fndmntl US BRD Mr ETF	0.43%	86,927	$2.2M	Add +2.0%
BNDX Vanguard Total Intl Bond ETF	0.42%	45,191	$2.2M	Reduce -0.3%
IJH iShares Core S&P Midcap ETF	0.40%	32,033	$2.1M	No change
IJR iShares Core S&P Small-Cap E	0.39%	17,408	$2.1M	Add +0.3%
SCHP Schwab U.S. Tips ETF	0.39%	76,222	$2.1M	Add +1.9%
TFI SS SPDR N Ice Muni Bond ETF	0.38%	44,291	$2.0M	No change
VTV Vanguard Mrngstr Val ETF-Aui	0.37%	10,360	$1.9M	Reduce -0.6%
JNJ Johnson & Johnson	0.34%	9,605	$1.8M	Reduce -1.9%
WTRG Essential Utilities Inc.	0.33%	45,318	$1.8M	Reduce -4.7%
FREL Fidelity MSCI RL Est Indx	0.33%	62,318	$1.7M	Add +0.8%
HTO H2O America	0.32%	36,238	$1.7M	Reduce -1.8%
AWR American States Water Co. filed as AMER STATES WTR CO	0.32%	23,673	$1.7M	Reduce -0.3%
AWK American Water Works Co. Inc.	0.32%	12,234	$1.7M	Reduce -5.4%
CWT California Water Service Grp	0.31%	36,140	$1.6M	Reduce -5.8%
LEG Leggett & Platt Inc.	0.30%	177,969	$1.6M	Reduce -0.0%
VTI VG Morningstar TS MKT ETF-US	0.30%	4,815	$1.6M	Reduce -1.3%
FNDE Schwab Fndmntl Em MRK Eq ETF	0.29%	42,271	$1.5M	No change
JPM JPMorgan Chase & Co.	0.27%	4,556	$1.4M	Add +3.4%
IEFA iShares Core MSCI Eafe ETF	0.27%	16,070	$1.4M	Reduce -8.0%
HDV iShares Core High Dividend E	0.27%	11,486	$1.4M	Reduce -10.4%
CORP PIMCO Inv Grade Corp. BD ETF	0.26%	13,961	$1.4M	Add +3.3%
META Meta Platforms Inc. Class A	0.26%	1,914	$1.4M	Add +3.3%
ABT Abbott Laboratories	0.25%	9,892	$1.3M	Reduce -12.2%
GME Gamestop Corp. Class A	0.24%	46,650	$1.3M	Add +0.1%
SPYX SS SPDR S&P 500 Foss FL ETF	0.24%	22,782	$1.3M	Reduce -0.9%
VWO Vanguard Ftse Emerging Marke	0.23%	22,170	$1.2M	No change
SPTL SS SPDR PF LNG TRM TSY E-Usd	0.22%	42,813	$1.2M	Add +6.0%
ABBV Abbvie Inc.	0.22%	4,656	$1.1M	Reduce -5.0%
ESGV Vanguard ESG US Stock ETF	0.21%	9,457	$1.1M	Reduce -2.4%
DUK Duke Energy Corp.	0.21%	9,111	$1.1M	Reduce -11.4%
IWV iShares Russell 3000 ETF	0.21%	2,902	$1.1M	No change
XOM Exxon Mobil Corp.	0.21%	9,710	$1.1M	Reduce -1.6%
TSLA Tesla Inc.	0.21%	2,358	$1.1M	Add +7.5%
CGXU Cap Group Intl Focus filed as CAPITAL GROUP INTL FOCUS EQT	0.20%	35,614	$1.1M	Add +186.2%
SPGI S&P Global Inc.	0.19%	2,120	$1.0M	Reduce -8.8%
MRK Merck & Co. Inc.	0.19%	11,327	$1.0M	Add +17.7%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.19%	3,436	$984K	Reduce -2.6%
PG The Procter & Gamble Co.	0.18%	6,371	$976K	Add +10.4%
HD Home Depot Inc.	0.18%	2,335	$927K	Add +3.9%
JIVE JPM Interntl Value ETF filed as J P MORGAN EXCHANGE TRADED F	0.18%	12,167	$924K	New
GD General Dynamics Corp.	0.17%	2,609	$889K	Add +24.6%
SO The Southern Co.	0.14%	8,069	$765K	Reduce -7.3%
VZ Verizon Communications Inc.	0.14%	16,910	$741K	Add +12.0%
IVW iShares S&P 500 Growth ETF	0.14%	6,018	$730K	Reduce -3.5%
ORCL Oracle Corp.	0.14%	2,524	$730K	Add +18.8%
CSW CSW Industrials Inc.	0.13%	2,815	$710K	Reduce -1.1%
DFIV Dimensional International Va	0.13%	14,767	$683K	No change
CAT Caterpillar Inc.	0.13%	1,388	$668K	Reduce -0.4%
EFAX State Street SPDR MSCI Eafe	0.13%	13,309	$661K	Reduce -3.4%
IWM iShares Russell 2000 ETF	0.12%	2,582	$626K	No change
PLTR Palantir Technologies Inc. Class A	0.12%	3,354	$620K	Add +36.0%
V Visa Inc. Class A	0.12%	1,781	$619K	Reduce -54.6%

Show all 174 holdings

Portfolio Sells Q2 2025 → Q3 2025


SSO Proshares Ultra S&P500	Sold out	0.00%	−0.63
SH Proshares Short S&P500	Reduce -13.7%	1.86%	−0.61
KBWP Invesco KBW Property & Casua	Reduce -45.7%	0.54%	−0.51
COST Costco Wholesale Corp.	Reduce -23.4%	0.49%	−0.24
TBT Proshares Ultrashort 20+Y TR	Reduce -7.1%	1.06%	−0.20
V Visa Inc. Class A	Reduce -54.6%	0.12%	−0.16
IMTB iShares Core 5-10 Year Usd	Reduce -1.5%	2.14%	−0.14
AGG iShares Core U.S. Aggregate	Reduce -0.1%	2.62%	−0.14
AFL Aflac Inc.	Sold out	0.00%	−0.09
DE Deere & Co.	Sold out	0.00%	−0.06
HTO H2O America	Reduce -1.8%	0.32%	−0.06
ABT Abbott Laboratories	Reduce -12.2%	0.25%	−0.06
EMR Emerson Electric Co.	Sold out	0.00%	−0.06
UNP Union Pacific Corp.	Sold out	0.00%	−0.06
SDY SS SPDR S&P Dividend ETF	Reduce -0.2%	1.67%	−0.06
SPGI S&P Global Inc.	Reduce -8.8%	0.19%	−0.05
FWONK Liberty Media Corp. Class C	Sold out	0.00%	−0.05
BLK BlackRock Inc.	Sold out	0.00%	−0.05
AMZN Amazon.com Inc.	Reduce -1.3%	0.69%	−0.05
AWR American States Water Co.	Reduce -0.3%	0.32%	−0.05
AWK American Water Works Co. Inc.	Reduce -5.4%	0.32%	−0.05
C Citigroup Inc.	Sold out	0.00%	−0.05
CWT California Water Service Grp	Reduce -5.8%	0.31%	−0.05
GILD Gilead Sciences Inc.	Sold out	0.00%	−0.05
VNQ Vanguard Real Estate ETF	Reduce -0.0%	1.27%	−0.04
SCHM Schwab US Mid Cap ETF	Reduce -1.1%	3.10%	−0.04
ECL Ecolab Inc.	Sold out	0.00%	−0.04
AXP American Express Co.	Reduce -40.7%	0.05%	−0.04
T AT&T Inc.	Reduce -33.7%	0.05%	−0.04
HDV iShares Core High Dividend E	Reduce -10.4%	0.27%	−0.04
DUK Duke Energy Corp.	Reduce -11.4%	0.21%	−0.03
MSTR Strategy Inc.	Reduce -21.4%	0.05%	−0.03
CSW CSW Industrials Inc.	Reduce -1.1%	0.13%	−0.03
TXN Texas Instruments Inc.	Reduce -15.3%	0.07%	−0.03
BNDX Vanguard Total Intl Bond ETF	Reduce -0.3%	0.42%	−0.03
KO The Coca-Cola Co.	Reduce -14.2%	0.09%	−0.03
AMGN Amgen Inc.	Reduce -25.2%	0.08%	−0.03
IEFA iShares Core MSCI Eafe ETF	Reduce -8.0%	0.27%	−0.03
IBM Intl Business Machines Corp.	Reduce -2.6%	0.19%	−0.02
RTX RTX Corp.	Reduce -36.0%	0.05%	−0.02
WTRG Essential Utilities Inc.	Reduce -4.7%	0.33%	−0.02
QQQ Invesco QQQ Trust Series 1	Reduce -3.8%	2.07%	−0.02
GLD SPDR Gold Shares	Reduce -9.4%	3.70%	−0.02
KMB Kimberly-Clark Corp.	Reduce -18.8%	0.05%	−0.02
LEG Leggett & Platt Inc.	Reduce -0.0%	0.30%	−0.02
MCD McDonald's Corp.	Reduce -27.4%	0.04%	−0.02
HON Honeywell International Inc.	Reduce -16.1%	0.04%	−0.02
CL Colgate-Palmolive Co.	Reduce -7.9%	0.05%	−0.02
VPU Vanguard Utilities ETF	Reduce -3.6%	0.82%	−0.02
SO The Southern Co.	Reduce -7.3%	0.14%	−0.02

Portfolio Buys Q2 2025 → Q3 2025


QLD Proshares Ultra QQQ	Add +13.2%	2.34%	+0.47
ITA iShares U.S. Aerospace & Def	Add +24.6%	1.01%	+0.23
SCHA Schwab US Small-Cap ETF	Add +2.7%	3.13%	+0.20
JIVE JPM Interntl Value ETF	New	0.18%	+0.18
TLT iShares 20+ Year Treasury BD	Add +15.2%	1.88%	+0.16
CGXU Cap Group Intl Focus	Add +186.2%	0.20%	+0.13
GOOG Alphabet Inc. Class C	Add +3.2%	0.47%	+0.12
NVDA Nvidia Corp.	Add +11.6%	0.61%	+0.12
SCHX Schwab US Large-Cap ETF	Add +1.5%	3.69%	+0.12
SOXX iShares Semiconductor ETF	Add +5.2%	0.75%	+0.10
IHF iShares U.S. Healthcare Prov	New	0.09%	+0.09
DGRO iShares Core Dividend Growth	Add +5.8%	1.56%	+0.09
SCHB Schwab US Broad Market ETF	Add +0.1%	4.80%	+0.09
DFAI Dimensional International Co.	Add +5.2%	1.88%	+0.08
BOND PIMCO Active Bond Exchange-T	Add +10.0%	1.89%	+0.08
PFF iShares Preferred & Income S	New	0.08%	+0.08
VB Vanguard Most SM-Cap ETF-Usd	Add +1.9%	2.54%	+0.08
IBB iShares Biotechnology ETF	New	0.07%	+0.07
LDUR PIMCO Enhanced Low Duration	Add +10.4%	1.88%	+0.07
INTC Intel Corp.	New	0.07%	+0.07
PEP Pepsico Inc.	New	0.07%	+0.07
TSLA Tesla Inc.	Add +7.5%	0.21%	+0.06
ADBE Adobe Inc.	New	0.05%	+0.05
PLTR Palantir Technologies Inc. Class A	Add +36.0%	0.12%	+0.05
SNOW Snowflake Inc.	New	0.05%	+0.05
WMT Walmart Inc.	Add +81.3%	0.11%	+0.05
ABNB Airbnb Inc. Class A	New	0.05%	+0.05
PFE Pfizer Inc.	New	0.05%	+0.05
GD General Dynamics Corp.	Add +24.6%	0.17%	+0.05
HUBS HubSpot Inc.	New	0.04%	+0.04
ORCL Oracle Corp.	Add +18.8%	0.14%	+0.04
EIX Edison International	New	0.04%	+0.04
BAC Bank of America Corp.	New	0.04%	+0.04
MU Micron Technology Inc.	New	0.04%	+0.04
MRK Merck & Co. Inc.	Add +17.7%	0.19%	+0.04
EXPE Expedia Group Inc.	New	0.04%	+0.04
MCHI iShares MSCI China ETF	New	0.04%	+0.04
NUBD Nuveen ESG US Aggregate Bond	New	0.04%	+0.04
EEMX State Street SPDR MSCI Emerg	New	0.04%	+0.04
VRP Invesco Variable Rate Prefer	Add +12.3%	0.60%	+0.04
LIN Linde PLC	New	0.04%	+0.04
GE General Electric	Add +38.1%	0.10%	+0.04
PCG P G & E Corp.	New	0.03%	+0.03
AVGO Broadcom Inc.	Add +16.4%	0.11%	+0.03
VOO Vanguard S&P 500 ETF	Add +1.0%	0.83%	+0.02
GSIE Goldman Sachs Activebeta Int	Add +3.8%	1.17%	+0.02
ICF iShares Select U.S. REIT ETF	Add +10.7%	0.45%	+0.02
MSFT Microsoft Corp.	Add +4.3%	0.86%	+0.02
CWB SS SPDR BB Conv Sec ETF	Add +0.0%	0.52%	+0.02
ADT Adt Inc.	New	0.02%	+0.02

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q3 2025	174	$527.5M	SPY, USFR, SCHB, GLD, SCHX
Q2 2025	163	$496.0M	SPY, USFR, SCHB, GLD, SCHX
Q1 2025	160	$452.9M	SPY, GLD, SCHB, SH, SCHD
Q4 2024	153	$441.7M	SPY, SCHB, GLD, SH, AAPL
Q3 2024	145	$449.6M	SPY, GLD, SCHB, PROSHARES SHORT S&P500, USFR
Q2 2024	155	$419.9M	SPY, SCHB, USFR, SCHX, AAPL
Q1 2024	154	$406.8M	SCHB, SPY, USFR, AAPL, SCHD