Institutional Manager · CIK 0001513189

First Western Trust Bank

Denver, CO · File #028-22491

Latest AUM

$2.03B

Positions

269

Top-10 Concentration

86.5%

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
ADD	Vanguard S&P 500	922908363	+233,701	+$146.6M	+$17,199
REDUCE	iShares Russell 2000	464287655	-231,315	-$56.9M	+$990,016
REDUCE	VANGUARD INDEX FDS	922908769	-133,330	-$44.7M	+$959,973
ADD	APPLE INC	AAPL	+108,156	+$29.4M	+$77,053
REDUCE	MICROSOFT CORP	MSFT	-48,137	-$23.3M	-$1.7M
REDUCE	ISHARES TR	464287507	-197,573	-$13.0M	+$146,470
REDUCE	COSTCO WHSL CORP NEW	22160K105	-10,390	-$9.0M	-$677,448
ADD	SPDR S&P 500	SPY	+12,825	+$8.7M	+$258,152
REDUCE	ECOLAB INC	ECL	-17,543	-$4.6M	-$208,607
REDUCE	SCHLUMBERGER LTD	SLB	-119,575	-$4.6M	+$494,446

Sector Allocation

57.4%$1.17B

4.5%$91.5M

4.3%$88.5M

1.8%$36.2M

Consumer Discretionary

1.2%$25.2M

Consumer Staples

0.5%$10.5M

Energy

0.3%$7.0M

Materials

0.3%$6.5M

Communication Services

0.1%$1.1M

Filing History

Feb 12, 202613F HOLDINGS REPORTQ/E Dec 2025269 pos · $2.03B
Nov 14, 202513F HOLDINGS REPORTQ/E Sep 2025262 pos · $2.18B
Aug 8, 202513F HOLDINGS REPORTQ/E Jun 2025267 pos · $2.22B
May 12, 202513F HOLDINGS REPORTQ/E Mar 2025262 pos · $2.09B
Feb 13, 202513F HOLDINGS REPORTQ/E Dec 2024271 pos · $2.17B
Nov 7, 202413F HOLDINGS REPORTQ/E Sep 2024279 pos · $2.22B
Aug 5, 202413F HOLDINGS REPORTQ/E Jun 2024269 pos · $2.10B
May 16, 202413F HOLDINGS REPORTQ/E Mar 2024282 pos · $2.20B
Nov 14, 202313F HOLDINGS REPORTQ/E Dec 2023240 pos · $1.86B

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	STRYKER CORPORATION	SYK	3,252,418	$1.14B	59.95%
2	Vanguard S&P 500	922908363	234,867	$147.3M	7.72%
3	iShares Russell Mid Cap	464287499	1,037,946	$99.9M	5.24%
4	Invesco S&P 500 Equal Weight	IVZ	330,273	$63.3M	3.32%
5	iShares Russell 2000	464287655	232,536	$57.2M	3.00%
6	Vanguard FTSE Developed Markets	921943858	664,714	$41.5M	2.18%
7	APPLE INC	AAPL	112,628	$30.6M	1.61%
8	MICROSOFT CORP	MSFT	50,296	$24.3M	1.28%
9	ISHARES TR	464287234	387,256	$21.2M	1.11%
10	ALPHABET INC	GOOG	64,435	$20.2M	1.06%
11	SPDR S&P 500	SPY	29,226	$19.9M	1.05%
12	WOODWARD INC	WWD	63,286	$19.1M	1.00%
13	JPMORGAN CHASE & CO.	VYLD	40,297	$13.0M	0.68%
14	ISHARES TR	464287507	192,992	$12.7M	0.67%
15	SPDR S&P 500	SPY	16,401	$11.2M	0.59%
16	NVIDIA CORPORATION	NVDA	58,927	$11.0M	0.58%
17	VISA INC	V	30,353	$10.6M	0.56%
18	COSTCO WHSL CORP NEW	22160K105	10,459	$9.0M	0.47%
19	Vanguard Russell 2000	92206C664	86,713	$8.6M	0.45%
20	MCDONALDS CORP	MCD	25,820	$7.9M	0.41%