Institutional Manager · CIK 0001214183

FIRST UNITED BANK & TRUST

Oakland, MD · File #028-10455

Latest AUM

$313.3M

Positions

557

Top-10 Concentration

45.8%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
REDUCE	Erie Indty Co CL A	29530P102	-8,000	-$2.3M	-$315,100
ADD	Amgen Inc Com	AMGN	+5,737	+$1.9M	+$4,962
ADD	Vanguard Mid-Cap ETF	922908629	+4,790	+$1.4M	-$66,669
ADD	iShares Tr Core MSCI Eafe ETF	46432F842	+13,961	+$1.2M	+$139,698
ADD	iShares in Core MSCI Emerging Mkts	46434G103	+16,655	+$1.1M	+$67,166
ADD	SPDR Gold Trust ETF	GLD	+2,140	+$848,103	+$87,929
ADD	Select Sector SPDR Tr Technology	81369Y803	+5,077	+$730,936	-$622,574
ADD	Vanguard Index FDS S&P 500 ETF Shs	922908363	+1,103	+$691,724	+$285,428
ADD	Oracle Corp Com	ORCL-PD	+3,533	+$688,617	-$18,129
ADD	iShares Select Dividend ETF	464287168	+4,754	+$670,980	-$57,463

Sector Allocation

Technology

14.9%$46.8M

Financials

13.5%$42.2M

Healthcare

3.2%$10.1M

Consumer Discretionary

2.8%$8.9M

1.8%$5.6M

1.7%$5.3M

1.1%$3.5M

1.1%$3.4M

Communication Services

0.8%$2.6M

Real Estate

0.5%$1.6M

Materials

0.5%$1.6M

Filing History

Jan 21, 202613F HOLDINGS REPORTQ/E Dec 2025557 pos · $313.3M
Oct 27, 202513F HOLDINGS REPORTQ/E Sep 2025584 pos · $308.1M
Jul 18, 202513F HOLDINGS REPORTQ/E Jun 2025551 pos · $286.9M
Apr 15, 202513F HOLDINGS REPORTQ/E Mar 2025562 pos · $267.7M
Jan 16, 202513F HOLDINGS REPORTQ/E Dec 2024526 pos · $275.3M
Oct 15, 202413F HOLDINGS REPORTQ/E Sep 2024527 pos · $278.3M
Aug 12, 202413F HOLDINGS REPORTQ/E Jun 2024557 pos · $268.7M
Apr 29, 202413F HOLDINGS REPORTQ/E Mar 2024577 pos · $270.1M
Oct 24, 202313F HOLDINGS REPORTQ/E Dec 2023154 pos · $215.0M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	Invesco QQQ Unit Series 1	IVZ	35,084	$21.6M	9.26%
2	Vanguard Value ETF	922908744	89,922	$17.2M	7.38%
3	Vanguard Index FDS S&P 500 ETF Shs	922908363	20,454	$12.8M	5.51%
4	Vanguard Growth ETF	922908736	23,649	$11.5M	4.96%
5	iShares Select Dividend ETF	464287168	64,611	$9.1M	3.92%
6	Apple Inc Com	AAPL	26,371	$7.2M	3.08%
7	iShares Tr Core MSCI Eafe ETF	46432F842	78,937	$7.1M	3.03%
8	Vanguard Mid-Cap ETF	922908629	23,730	$6.9M	2.96%
9	Alphabet Inc	GOOG	21,747	$6.8M	2.92%
10	Invesco S&P 500 Equal Weight	IVZ	33,811	$6.5M	2.78%
11	Microsoft Corp Com	MSFT	12,789	$6.2M	2.66%
12	J P Morgan Chase & Co	VYLD	16,419	$5.3M	2.27%
13	Vanguard Index FDS McAp Vl Idxvip	922908512	29,353	$5.2M	2.24%
14	Vanguard Index FDS McAp GR Idxvip	922908538	18,443	$5.1M	2.21%
15	Nvidia Corp	NVDA	27,590	$5.1M	2.21%
16	Arista Networks Inc Ordinary Shares	ANET	39,194	$5.1M	2.21%
17	Fideltiy Total Bond ETF	316188309	108,214	$5.0M	2.14%
18	Invesco S&P 500 Garp ETF	IVZ	42,307	$4.8M	2.07%
19	iShares Core S&P 500 ETF	464287200	6,718	$4.6M	1.98%
20	iShares in Core MSCI Emerging Mkts	46434G103	68,321	$4.6M	1.97%