# First National Advisers, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1941030. Source: https://holderbook.com/funds/1941030-first-national-advisers-llc/

- Reported value: $711.8M
- Positions: 251
- Weight of the ten largest: 36.5%
- Filed: 2026-07-21

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| DIMENSIONAL ETF TRUST | [DFAI](https://holderbook.com/stocks/DFAI/) | $59.5M | 1,441,680 | 8.4% | 9 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $38.0M | 131,469 | 5.3% | 17 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $35.7M | 178,445 | 5.0% | 17 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $25.0M | 70,861 | 3.5% | 17 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $22.5M | 60,186 | 3.2% | 17 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $21.6M | 90,504 | 3.0% | 17 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $15.6M | 41,212 | 2.2% | 9 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $14.5M | 44,312 | 2.0% | 17 |
| PIMCO ETF TR | [CMDT](https://holderbook.com/stocks/CMDT/) | $14.2M | 461,835 | 2.0% | 2 |
| SSGA ACTIVE ETF TR | [RLY](https://holderbook.com/stocks/RLY/) | $13.5M | 391,401 | 1.9% | 2 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $12.1M | 21,564 | 1.7% | 17 |
| J P MORGAN EXCHANGE TRADED F | [JEPI](https://holderbook.com/stocks/JEPI/) | $11.2M | 198,912 | 1.6% | 9 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $11.2M | 15 | 1.6% | 12 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $11.1M | 9,217 | 1.6% | 17 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $9.8M | 27,550 | 1.4% | 17 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $9.4M | 8,140 | 1.3% | 2 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $9.4M | 18,733 | 1.3% | 13 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $8.8M | 15,149 | 1.2% | 11 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $6.6M | 34,676 | 0.9% | 17 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $6.2M | 70,500 | 0.9% | 17 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $6.0M | 14,257 | 0.8% | 7 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $5.9M | 11,507 | 0.8% | 17 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $5.8M | 6,251 | 0.8% | 17 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $5.8M | 23,174 | 0.8% | 6 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $5.7M | 7,949 | 0.8% | 5 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $5.5M | 15,261 | 0.8% | 12 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $5.5M | 48,394 | 0.8% | 17 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $5.3M | 38,448 | 0.7% | 17 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $5.0M | 19,506 | 0.7% | 6 |
| CSX CORP | [CSX](https://holderbook.com/stocks/CSX/) | $4.7M | 99,683 | 0.7% | 17 |
| INVESTMENT MANAGERS SER TR I | [PPI](https://holderbook.com/stocks/PPI/) | $4.7M | 219,280 | 0.7% | 2 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $4.5M | 21,543 | 0.6% | 17 |
| SOUTHERN CO | [SO](https://holderbook.com/stocks/SO/) | $4.5M | 46,945 | 0.6% | 8 |
| ARISTA NETWORKS INC | [ANET](https://holderbook.com/stocks/ANET/) | $4.4M | 25,781 | 0.6% | 5 |
| LITTELFUSE INC | [LFUS](https://holderbook.com/stocks/LFUS/) | $4.4M | 9,576 | 0.6% | 12 |
| MASTEC INC | [MTZ](https://holderbook.com/stocks/MTZ/) | $4.3M | 10,390 | 0.6% | 17 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $4.3M | 6,233 | 0.6% | 11 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $4.2M | 51,409 | 0.6% | 17 |
| AMETEK INC | [AME](https://holderbook.com/stocks/AME/) | $4.2M | 17,351 | 0.6% | 17 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $4.2M | 23,725 | 0.6% | 13 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $4.2M | 30,808 | 0.6% | 17 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $4.2M | 45,087 | 0.6% | 12 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $4.1M | 11,073 | 0.6% | 13 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $3.9M | 7,735 | 0.5% | 17 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $3.9M | 47,667 | 0.5% | 17 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $3.9M | 9,051 | 0.5% | 17 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $3.7M | 7,171 | 0.5% | 14 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $3.7M | 10,521 | 0.5% | 17 |
| NVENT ELEC PLC | [NVT](https://holderbook.com/stocks/NVT/) | $3.7M | 21,698 | 0.5% | 3 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $3.6M | 24,668 | 0.5% | 4 |
| WASTE MGMT INC DEL | [WM](https://holderbook.com/stocks/WM/) | $3.6M | 15,935 | 0.5% | 17 |
| BLACKROCK INC | [BLK](https://holderbook.com/stocks/BLK/) | $3.5M | 3,684 | 0.5% | 7 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $3.4M | 10,061 | 0.5% | 17 |
| EDWARDS LIFESCIENCES CORP | [EW](https://holderbook.com/stocks/EW/) | $3.4M | 37,854 | 0.5% | 17 |
| BANK OF NY MELLON CORP | [BNY](https://holderbook.com/stocks/BNY/) | $3.3M | 22,834 | 0.5% | 4 |
| LIVANOVA PLC | [LIVN](https://holderbook.com/stocks/LIVN/) | $3.3M | 39,711 | 0.5% | 1 |
| OREILLY AUTOMOTIVE INC | [ORLY](https://holderbook.com/stocks/ORLY/) | $3.2M | 35,004 | 0.5% | 17 |
| EOG RES INC | [EOG](https://holderbook.com/stocks/EOG/) | $3.2M | 24,485 | 0.4% | 17 |
| MICROCHIP TECHNOLOGY INC. | [MCHP](https://holderbook.com/stocks/MCHP/) | $3.2M | 34,693 | 0.4% | 17 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $3.1M | 18,855 | 0.4% | 17 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $3.0M | 41,672 | 0.4% | 12 |
| MUELLER WTR PRODS INC | [MWA](https://holderbook.com/stocks/MWA/) | $2.9M | 113,761 | 0.4% | 3 |
| QUANTA SVCS INC | [PWR](https://holderbook.com/stocks/PWR/) | $2.9M | 4,061 | 0.4% | 16 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $2.9M | 9,788 | 0.4% | 17 |
| MONOLITHIC PWR SYS INC | [MPWR](https://holderbook.com/stocks/MPWR/) | $2.9M | 2,083 | 0.4% | 4 |
| BALCHEM CORP | [BCPC](https://holderbook.com/stocks/BCPC/) | $2.9M | 16,890 | 0.4% | 6 |
| CHURCH & DWIGHT CO INC | [CHD](https://holderbook.com/stocks/CHD/) | $2.8M | 28,951 | 0.4% | 17 |
| AVNET INC | [AVT](https://holderbook.com/stocks/AVT/) | $2.8M | 31,429 | 0.4% | 1 |
| RELIANCE INC | [RS](https://holderbook.com/stocks/RS/) | $2.8M | 7,368 | 0.4% | 4 |
| UNITED THERAPEUTICS CORP DEL | [UTHR](https://holderbook.com/stocks/UTHR/) | $2.7M | 4,940 | 0.4% | 9 |
| CINTAS CORP | [CTAS](https://holderbook.com/stocks/CTAS/) | $2.7M | 15,633 | 0.4% | 17 |
| MOODYS CORP | [MCO](https://holderbook.com/stocks/MCO/) | $2.7M | 5,854 | 0.4% | 17 |
| CME GROUP INC | [CME](https://holderbook.com/stocks/CME/) | $2.6M | 11,987 | 0.4% | 17 |
| FIRST AMERN FINL CORP | [FAF](https://holderbook.com/stocks/FAF/) | $2.6M | 38,025 | 0.4% | 17 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $2.6M | 10,083 | 0.4% | 17 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $2.6M | 14,345 | 0.4% | 17 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $2.5M | 16,420 | 0.3% | 17 |
| KULICKE & SOFFA INDS INC | [KLIC](https://holderbook.com/stocks/KLIC/) | $2.5M | 18,483 | 0.3% | 1 |
| ATMOS ENERGY CORP | [ATO](https://holderbook.com/stocks/ATO/) | $2.4M | 13,769 | 0.3% | 17 |
| SNOWFLAKE INC | [SNOW](https://holderbook.com/stocks/SNOW/) | $2.4M | 9,295 | 0.3% | 1 |
| PHILLIPS 66 | [PSX](https://holderbook.com/stocks/PSX/) | $2.3M | 13,775 | 0.3% | 17 |
| T-MOBILE US INC | [TMUS](https://holderbook.com/stocks/TMUS/) | $2.2M | 13,296 | 0.3% | 7 |
| TEXAS ROADHOUSE INC | [TXRH](https://holderbook.com/stocks/TXRH/) | $2.2M | 11,328 | 0.3% | 6 |
| NICOLET BANKSHARES INC | [NIC](https://holderbook.com/stocks/NIC/) | $2.2M | 13,215 | 0.3% | 2 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $2.1M | 18,246 | 0.3% | 12 |
| SHARKNINJA INC | [SN](https://holderbook.com/stocks/SN/) | $2.1M | 13,569 | 0.3% | 6 |
| FIRST INDL RLTY TR INC | [FR](https://holderbook.com/stocks/FR/) | $2.1M | 33,633 | 0.3% | 12 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $2.0M | 22,384 | 0.3% | 17 |
| ESSENTIAL PPTYS RLTY TR INC | [EPRT](https://holderbook.com/stocks/EPRT/) | $2.0M | 67,626 | 0.3% | 1 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $2.0M | 19,189 | 0.3% | 17 |
| DIAMONDBACK ENERGY INC | [FANG](https://holderbook.com/stocks/FANG/) | $2.0M | 11,326 | 0.3% | 16 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $1.9M | 5,666 | 0.3% | 14 |
| QUEST DIAGNOSTICS INC | [DGX](https://holderbook.com/stocks/DGX/) | $1.9M | 9,091 | 0.3% | 5 |
| DOLLAR GEN CORP | [DG](https://holderbook.com/stocks/DG/) | $1.9M | 16,655 | 0.3% | 4 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $1.8M | 18,746 | 0.3% | 12 |
| KEYSIGHT TECHNOLOGIES INC | [KEYS](https://holderbook.com/stocks/KEYS/) | $1.8M | 5,085 | 0.3% | 12 |
| MARKEL GROUP INC | [MKL](https://holderbook.com/stocks/MKL/) | $1.8M | 905 | 0.2% | 17 |
| BROADRIDGE FINL SOLUTIONS IN | [BR](https://holderbook.com/stocks/BR/) | $1.8M | 12,856 | 0.2% | 17 |
| SUN CMNTYS INC | [SUI](https://holderbook.com/stocks/SUI/) | $1.7M | 14,045 | 0.2% | 12 |
| ROYAL CARIBBEAN GROUP | [RCL](https://holderbook.com/stocks/RCL/) | $1.6M | 5,135 | 0.2% | 16 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +8.4% | +14.8% | -6.5% | 100% |
| Q1 2026 | -2.9% | -4.6% | +1.8% | 100% |
| Q4 2025 | +1.3% | +2.4% | -1.1% | 100% |
| Q3 2025 | +6.3% | +7.8% | -1.5% | 100% |
| Q2 2025 | +7.2% | +10.5% | -3.3% | 100% |
| Q1 2025 | -3.0% | -4.6% | +1.6% | 100% |
| Q4 2024 | -0.6% | +2.1% | -2.7% | 100% |
| Q3 2024 | +4.8% | +5.4% | -0.7% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $711.8M | 251 |
| Q1 2026 | $683.5M | 239 |
| Q4 2025 | $727.3M | 235 |
| Q3 2025 | $736.9M | 228 |
| Q2 2025 | $683.0M | 221 |
| Q1 2025 | $624.7M | 212 |
| Q4 2024 | $618.5M | 175 |
| Q3 2024 | $627.1M | 215 |
| Q2 2024 | $547.2M | 208 |
| Q1 2024 | $446.9M | 203 |
| Q4 2023 | $347.4M | 154 |
| Q3 2023 | $224.0M | 151 |