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Livermore
Livermore
ZHEN

First Bank & Trust

SEC CIK
0001692632
Latest filing
Jul 9, 2026

The latest 13F from First Bank & Trust covers Q2 2026 (filed Jul 9, 2026): 270 long positions worth $680.0M. The top 10 holdings make up 44.5% of the portfolio, and the largest is Vanguard Morningstar Total Stock Market ETF at 11.3%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
22
Est. +$7.94M
Added
106
Est. +$19.4M
Reduced
103
Est. −$20.4M
Sold out
9
Est. −$2.55M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Total Stock Market ETF922908769
    11.3%$77.1M
  2. Vanguard Ftse Developed Markets ETF921943858
    8.1%$55.3M
  3. iShares Core U.S. Aggregate Bond ETF464287226
    5.3%$36.3M
  4. Vanguard S&P 500 ETF922908363
    4.2%$28.2M
  5. Vanguard Ftse Emerging Markets ETF922042858
    3.8%$25.7M

Share of portfolio

Top 5 holdings and the other 265 positions, by share of portfolio value

  1. Vanguard Morningstar Total Stock Market ETF11.3%
  2. Vanguard Ftse Developed Markets ETF8.1%
  3. iShares Core U.S. Aggregate Bond ETF5.3%
  4. Vanguard S&P 500 ETF4.2%
  5. Vanguard Ftse Emerging Markets ETF3.8%
  6. Other 265 positions67.3%

Biggest buys

New and added positions, by estimated amount bought

  1. MDTMedtronic plc
    +$1.95MNewHistory
  2. iShares Core S&P 500 ETF464287200
    +$1.72MAdded
  3. PAYXPaychex Inc
    +$1.37MAddedHistory
  4. KIMKimco Realty Corp
    +$1.06MAddedHistory
  5. AMTAmerican Tower Corp
    +$1.01MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. iShares Core S&P 500 ETF464287200
    +0.30 pp1.0% → 1.3%
  2. AMDAdvanced Micro Devices Inc
    +0.29 pp0.1% → 0.4%History
  3. MDTMedtronic plc
    +0.29 pp0.0% → 0.3%History
  4. MUMicron Technology Inc
    +0.23 pp0.1% → 0.3%History
  5. iShares Core S&P Small Cap ETF464287804
    +0.22 pp2.5% → 2.7%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. COSTCostco Wholesale Corp
    −$1.60MReducedHistory
  2. Vanguard Morningstar Total Stock Market ETF922908769
    −$1.49MReduced
  3. XOMExxonMobil Holdings Corp
    −$1.40MReducedHistory
  4. Global X FDS37954Y889
    −$955.8KReduced
  5. JNJJohnson & Johnson
    −$842.4KReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. XOMExxonMobil Holdings Corp
    −0.45 pp0.9% → 0.5%History
  2. COSTCostco Wholesale Corp
    −0.42 pp1.3% → 0.9%History
  3. TTETotalEnergies SE
    −0.32 pp1.1% → 0.8%History
  4. CVXChevron Corp
    −0.28 pp0.8% → 0.5%History
  5. GILDGilead Sciences, Inc.
    −0.22 pp0.6% → 0.4%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$680.0M
+$59.2M (+9.5%) vs. prior quarter
Positions
270
+13 vs. prior quarter
Top 10 concentration
44.5%
Top 10 as share of value
Turnover
3.5%
Q2 2026, one quarter
Average holding period
18.1 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $680.0M (Q2 2026)

Q1 2021: $198.7MQ2 2021: $207.2MQ3 2021: $218.9MQ4 2021: $237.8MQ1 2022: $324.6MQ2 2022: $307.3MQ3 2022: $272.3MQ4 2022: $360.1MQ1 2023: $378.1MQ2 2023: $394.6MQ3 2023: $381.9MQ4 2023: $414.2MQ1 2024: $483.8MQ2 2024: $491.0MQ3 2024: $527.1MQ4 2024: $521.0MQ1 2025: $516.6MQ2 2025: $560.8MQ3 2025: $594.2MQ4 2025: $613.9MQ1 2026: $620.8MQ2 2026: $680.0M
Q1 2021Q2 2026
13F filings of First Bank & Trust by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 9, 2026270$680.0MVanguard Morningstar Total Stock Market ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q1 2026SEC
Q1 2026Apr 10, 2026257$620.8MVanguard Morningstar Total Stock Market ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q4 2025SEC
Q4 2025Jan 12, 2026260$613.9MVanguard Morningstar Total Stock Market ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q3 2025SEC
Q3 2025Oct 10, 2025257$594.2MVanguard Morningstar Total Stock Market ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q2 2025SEC
Q2 2025Jul 9, 2025243$560.8MVanguard Morningstar Total Stock Market ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q1 2025SEC
Q1 2025Apr 28, 2025233$516.6MVanguard Morningstar Total Stock Market ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q4 2024SEC
Q4 2024Feb 3, 2025236$521.0MVanguard Morningstar Total Stock Market ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q3 2024SEC
Q3 2024Oct 24, 2024234$527.1MVanguard Morningstar Total Stock Market ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q2 2024SEC
Q2 2024Jul 9, 2024225$491.0MVanguard Morningstar Total Stock Market ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q1 2024SEC
Q1 2024Apr 17, 2024230$483.8MVanguard Morningstar Total Stock Market ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q4 2023SEC
Q4 2023Jan 12, 2024190$414.2MVanguard Morningstar Total Stock Market ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q3 2023SEC
Q3 2023Oct 11, 2023189$381.9MVanguard Morningstar Total Stock Market ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q2 2023SEC
Q2 2023Jul 12, 2023196$394.6MVanguard Morningstar Total Stock Market ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q1 2023SEC
Q1 2023Apr 25, 2023189$378.1MVanguard Morningstar Total Stock Market ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q4 2022SEC
Q4 2022Jan 27, 2023186$360.1MVanguard Morningstar Total Stock Market ETFVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFvs. Q3 2022SEC
Q3 2022Oct 28, 2022162$272.3MVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFVanguard Ftse Emerging Markets ETFvs. Q2 2022SEC
Q2 2022Jul 22, 2022534$307.3MVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFVanguard Ftse Emerging Markets ETFvs. Q1 2022SEC
Q1 2022Apr 29, 2022545$324.6MVanguard Ftse Developed Markets ETFiShares Core U.S. Aggregate Bond ETFVanguard Ftse Emerging Markets ETFvs. Q4 2021SEC
Q4 2021Feb 1, 2022536$237.8MVanguard S&P 500 Value ETFMSFTVanguard Morningstar Total Stock Market ETFvs. Q3 2021SEC
Q3 2021Oct 18, 2021433$218.9MVanguard S&P 500 Value ETFMSFTVanguard Morningstar Total Stock Market ETFvs. Q2 2021SEC
Q2 2021Aug 10, 2021419$207.2MVanguard S&P 500 Value ETFMSFTVanguard Morningstar Total Stock Market ETFvs. Q1 2021SEC
Q1 2021Apr 14, 2021421$198.7MVanguard S&P 500 Value ETFMSFTVanguard Admiral FDS Inc–SEC