FIRST UNITED BANK & TRUST

Filed: 10/27/2025ACC: 0001104659-25-102480

📋 What this filing means

FIRST UNITED BANK & TRUST filed this quarterly 13F‑HR report disclosing 419 equity positions with a total reported market value of $308.08M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

419

Positions

$308.08M

Total AUM (reported)

2.09M

Total Shares

Allocation by class

COM$111.71M36.3%

UNIT SER 1$21.05M6.8%

VALUE ETF$16.54M5.4%

S&P 500 ETF SHS$11.97M3.9%

GROWTH ETF$11.32M3.7%

SELECT DIVID ETF$8.57M2.8%

CL A$8.35M2.7%

Portfolio Concentration

Top 3$49.56M16.1%

4–10$56.22M18.2%

11–25$70.10M22.8%

Rest$132.19M42.9%

Top 3 weight

16.1%

Top 10 weight

34.3%

Voting Authority Distribution

Total shares with voting rights: 2.09M

Sole

Full voting authority

2.09M

% of voting shares100.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

0.00

% of voting shares0.0%

Investment Discretion (by position count)

Sole217

Shared0

Other202

Dominant voting typeSole · 100.0% of voting shares

Institutional Holdings419

Rows:

Invesco QQQ Unit Series 1

DFND

UNIT SER 1

Shares35.06K

TypeSH

Market value$21.05M

6.83%

Sole

35.06K

Shared

0.00

None

0.00

Vanguard Value ETF

DFND

VALUE ETF

Shares88.68K

TypeSH

Market value$16.54M

5.37%

Sole

88.68K

Shared

0.00

None

0.00

Vanguard Index FDS S&P 500 ETF Shs

DFND

S&P 500 ETF SHS

Shares19.55K

TypeSH

Market value$11.97M

3.89%

Sole

19.55K

Shared

0.00

None

0.00

Vanguard Growth ETF

DFND

GROWTH ETF

Shares23.61K

TypeSH

Market value$11.32M

3.68%

Sole

23.61K

Shared

0.00

None

0.00

Apple Inc Com

DFND

COM

Shares37.22K

TypeSH

Market value$9.48M

3.08%

Sole

37.22K

Shared

0.00

None

0.00

iShares Select Dividend ETF

DFND

SELECT DIVID ETF

Shares60.33K

TypeSH

Market value$8.57M

2.78%

Sole

60.33K

Shared

0.00

None

0.00

Microsoft Corp Com

DFND

COM

Shares16.50K

TypeSH

Market value$8.55M

2.77%

Sole

16.50K

Shared

0.00

None

0.00

Invesco S&P 500 Equal Weight

DFND

S&P500 EQL WGT

Shares35.63K

TypeSH

Market value$6.76M

2.19%

Sole

35.63K

Shared

0.00

None

0.00

Arista Networks Inc Ordinary Shares

DFND

COM SHS

Shares40K

TypeSH

Market value$5.83M

1.89%

Sole

40K

Shared

0.00

None

0.00

iShares Tr Core MSCI Eafe ETF

DFND

CORE MSCI EAFE

Shares65.44K

TypeSH

Market value$5.71M

1.85%

Sole

65.44K

Shared

0.00

None

0.00

Vanguard Mid-Cap ETF

DFND

MID CAP ETF

Shares19.30K

TypeSH

Market value$5.67M

1.84%

Sole

19.30K

Shared

0.00

None

0.00

Alphabet Inc

DFND

CAP STK CL A

Shares23.09K

TypeSH

Market value$5.61M

1.82%

Sole

23.09K

Shared

0.00

None

0.00

Nvidia Corp

DFND

COM

Shares29.90K

TypeSH

Market value$5.58M

1.81%

Sole

29.90K

Shared

0.00

None

0.00

J P Morgan Chase & Co

DFND

COM

Shares17.49K

TypeSH

Market value$5.52M

1.79%

Sole

17.49K

Shared

0.00

None

0.00

Vanguard Index FDS McAp GR Idxvip

DFND

MCAP GR IDXVIP

Shares17.47K

TypeSH

Market value$5.13M

1.67%

Sole

17.47K

Shared

0.00

None

0.00

Invesco S&P 500 Garp ETF

DFND

S&P 500 GARP ETF

Shares44.38K

TypeSH

Market value$5.04M

1.64%

Sole

44.38K

Shared

0.00

None

0.00

Fideltiy Total Bond ETF

DFND

TOTAL BD ETF

Shares107.70K

TypeSH

Market value$4.98M

1.62%

Sole

107.70K

Shared

0.00

None

0.00

Vanguard Index FDS McAp Vl Idxvip

DFND

MCAP VL IDXVIP

Shares27.96K

TypeSH

Market value$4.88M

1.58%

Sole

27.96K

Shared

0.00

None

0.00

iShares Core S&P 500 ETF

SOLE

CORE S&P500 ETF

Shares6.72K

TypeSH

Market value$4.50M

1.46%

Sole

6.72K

Shared

0.00

None

0.00

Flexshares Stoxx US ESG Impact Index

DFND

STOX US ESG SLCT

Shares27.39K

TypeSH

Market value$4.22M

1.37%

Sole

27.39K

Shared

0.00

None

0.00

SPDR S&P 500 Index

DFND

TR UNIT

Shares6.31K

TypeSH

Market value$4.20M

1.36%

Sole

6.31K

Shared

0.00

None

0.00

Flexshares Tr Hig Yld Vl ETF

DFND

HIG YLD VL ETF

Shares99.90K

TypeSH

Market value$4.12M

1.34%

Sole

99.90K

Shared

0.00

None

0.00

Vanguard Index FDS Small CP ETF

DFND

SMALL CP ETF

Shares14.15K

TypeSH

Market value$3.60M

1.17%

Sole

14.15K

Shared

0.00

None

0.00

iShares Russell 1000 Growth ETF

SOLE

RUS 1000 GRW ETF

Shares7.64K

TypeSH

Market value$3.58M

1.16%

Sole

7.64K

Shared

0.00

None

0.00

Lowes Cos Inc Com

DFND

COM

Shares13.83K

TypeSH

Market value$3.48M

1.13%

Sole

13.83K

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole
Invesco QQQ Unit Series 1DFND	UNIT SER 1	35.06K	SH	$21.05M 6.83%	35.06K
Vanguard Value ETFDFND	VALUE ETF	88.68K	SH	$16.54M 5.37%	88.68K
Vanguard Index FDS S&P 500 ETF ShsDFND	S&P 500 ETF SHS	19.55K	SH	$11.97M 3.89%	19.55K
Vanguard Growth ETFDFND	GROWTH ETF	23.61K	SH	$11.32M 3.68%	23.61K
Apple Inc ComDFND	COM	37.22K	SH	$9.48M 3.08%	37.22K
iShares Select Dividend ETFDFND	SELECT DIVID ETF	60.33K	SH	$8.57M 2.78%	60.33K
Microsoft Corp ComDFND	COM	16.50K	SH	$8.55M 2.77%	16.50K
Invesco S&P 500 Equal WeightDFND	S&P500 EQL WGT	35.63K	SH	$6.76M 2.19%	35.63K
Arista Networks Inc Ordinary SharesDFND	COM SHS	40K	SH	$5.83M 1.89%	40K
iShares Tr Core MSCI Eafe ETFDFND	CORE MSCI EAFE	65.44K	SH	$5.71M 1.85%	65.44K
Vanguard Mid-Cap ETFDFND	MID CAP ETF	19.30K	SH	$5.67M 1.84%	19.30K
Alphabet IncDFND	CAP STK CL A	23.09K	SH	$5.61M 1.82%	23.09K
Nvidia CorpDFND	COM	29.90K	SH	$5.58M 1.81%	29.90K
J P Morgan Chase & CoDFND	COM	17.49K	SH	$5.52M 1.79%	17.49K
Vanguard Index FDS McAp GR IdxvipDFND	MCAP GR IDXVIP	17.47K	SH	$5.13M 1.67%	17.47K
Invesco S&P 500 Garp ETFDFND	S&P 500 GARP ETF	44.38K	SH	$5.04M 1.64%	44.38K
Fideltiy Total Bond ETFDFND	TOTAL BD ETF	107.70K	SH	$4.98M 1.62%	107.70K
Vanguard Index FDS McAp Vl IdxvipDFND	MCAP VL IDXVIP	27.96K	SH	$4.88M 1.58%	27.96K
iShares Core S&P 500 ETFSOLE	CORE S&P500 ETF	6.72K	SH	$4.50M 1.46%	6.72K
Flexshares Stoxx US ESG Impact IndexDFND	STOX US ESG SLCT	27.39K	SH	$4.22M 1.37%	27.39K
SPDR S&P 500 IndexDFND	TR UNIT	6.31K	SH	$4.20M 1.36%	6.31K
Flexshares Tr Hig Yld Vl ETFDFND	HIG YLD VL ETF	99.90K	SH	$4.12M 1.34%	99.90K
Vanguard Index FDS Small CP ETFDFND	SMALL CP ETF	14.15K	SH	$3.60M 1.17%	14.15K
iShares Russell 1000 Growth ETFSOLE	RUS 1000 GRW ETF	7.64K	SH	$3.58M 1.16%	7.64K
Lowes Cos Inc ComDFND	COM	13.83K	SH	$3.48M 1.13%	13.83K

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