13F
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First Nebraska Trust Co

13F equity value
$1.1B
Positions
218
Top 10 concentration
45.1%
Quarters / total new picks
28 / 156
13F equity value over time
$0M$553M$1B201820192020202120222023202420252026

"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.

Not significant Verdict

13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.

We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 28 quarters, returned +3.9% per quarter — versus +2.8% per quarter from simply owning every 13F stock. It beat that baseline in only 57.1% of quarters (excess t = 0.05, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+0.1%
t-stat
0.05
Quarterly win rate
57%
Annualized excess
+4.5%
$1 → follow vs universe
$2.56 vs $1.94
Cumulative return: $1 invested in new picks vs universe
1.00 20181231: universe 0.98920190331: universe 0.97220190630: universe 1.04520191231: universe 0.84320200331: universe 1.01620200630: universe 1.12320200930: universe 1.37720201231: universe 1.44020210331: universe 1.45320210630: universe 1.56920210930: universe 1.40820211231: universe 1.19920220331: universe 1.28720220630: universe 1.19220220930: universe 1.28120221231: universe 1.18920230331: universe 1.25320230630: universe 1.20820230930: universe 1.37120231231: universe 1.43320240331: universe 1.46520240630: universe 1.59820240930: universe 1.58420241231: universe 1.47920250331: universe 1.61220250630: universe 1.66320250930: universe 1.87020251231: universe 1.934 20181231: follow 0.96020190331: follow 0.94020190630: follow 1.07020191231: follow 0.88920200331: follow 1.10820200630: follow 1.24720200930: follow 1.41720201231: follow 1.66720210331: follow 1.63120210630: follow 1.76220210930: follow 1.73620211231: follow 1.60020220331: follow 1.64820220630: follow 1.52820220930: follow 1.44020221231: follow 1.49520230331: follow 1.70420230630: follow 1.77620230930: follow 1.89420231231: follow 2.10820240331: follow 2.41320240630: follow 2.49520240930: follow 2.17820241231: follow 2.22020250331: follow 2.16220250630: follow 2.12220250930: follow 2.56520251231: follow 2.555 0.78 1.77 2.77 20182019202020212022202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 20 holdings of 218 · 2026 Q1

Ticker Value Weight QoQ
SYY $157M
14.5%
TRIM
AAPL $71M
6.6%
HOLD
BRK/B $45M
4.2%
HOLD
SPY $42M
3.9%
HOLD
GOOGL $41M
3.8%
HOLD
MSFT $34M
3.1%
ADD
AMAT $29M
2.7%
TRIM
WMT $24M
2.2%
TRIM
IJH $23M
2.1%
ADD
TT $22M
2.1%
HOLD
CVX $20M
1.8%
HOLD
ETN $19M
1.7%
HOLD
CAH $18M
1.7%
TRIM
QCOM $18M
1.6%
HOLD
JNJ $16M
1.5%
HOLD
CSCO $16M
1.5%
HOLD
BRK/A $15M
1.4%
HOLD
UNP $14M
1.3%
HOLD
NUE $14M
1.3%
HOLD
DHR $14M
1.3%
HOLD

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

AEPANETAPHASMLAVUVSPYMVLOWAT

Method & Limitations

Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.