undamentalytics Newsletter

First National Corp: which funds bought and sold

Institutions that bought and sold First National shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 56 institutions that filed 13F reports for both quarters added to or opened positions in First National, and 23 cut or closed them. Together they added a net 97K shares, +2.5% on what they held at the start of the quarter. Active managers and hedge funds on our list were net buyers of 480K shares (+139.4%); index fund managers were net buyers of 227K shares (+18.8%). 16 opened a new position and 8 sold out entirely.

Bought, Q2 2026 56 institutions, 16 of them new holders Sold, Q2 2026 23 institutions, 8 of them sold out
Net change, all compared +97K shares (+2.5%)
Net change, active managers +480K shares (+139.4%), 15 bought, 3 sold

Buyers versus sellers

institutions compared, 98
Active managers and hedge funds 15 bought · 3 sold · +480K
Index fund managers 8 bought · 1 sold · +227K
Other institutions 33 bought · 19 sold · −611K

Biggest buyers

by change in shares held
Biggest buyers
Institution Change in shares Shares June 30, 2026 Value
Blackrock, Inc. Index funds +149K +37.3% 549K $16.5M
Acadian Asset Management LLC Active manager +135K +135.2% 234K $7M
Citadel Advisors LLC Hedge fund +97K +732.2% 110K $3.3M
American Century Companies Inc Active manager +85K +281.6% 115K $3.5M
Qube Research & Technologies Ltd Hedge fund +64K New position 64K $1.9M
SG Americas Securities, LLC +63K New position 63K $1.9M
Dimensional Fund Advisors LP +52K +103.8% 102K $3.1M
Goldman Sachs Group Inc +47K +91.0% 98K $2.9M
Renaissance Technologies LLC Hedge fund +34K New position 34K $1M
Nuveen, LLC +31K +166.9% 49K $1.5M
Arrowstreet Capital, Limited Partnership Hedge fund +30K New position 30K $892,405
State Street Corp Index funds +29K +24.8% 146K $4.4M
AQR Capital Management LLC Hedge fund +27K New position 27K $796,551
Xtx Topco Ltd +25K New position 25K $761,878
Vanguard Capital Management LLC Index funds +17K +5.3% 344K $10.3M
Geode Capital Management, LLC Index funds +17K +9.5% 197K $5.9M
Two Sigma Investments, LP Hedge fund +16K +79.7% 36K $1.1M
HRT Financial LP +15K +154.2% 24K $734,000
Morgan Stanley +15K +67.4% 36K $1.1M
Trexquant Investment LP Hedge fund +13K +62.3% 33K $991,711

Biggest sellers

by change in shares held
Biggest sellers
Institution Change in shares Shares June 30, 2026 Value
Fourthstone LLC −774K Sold out 0 —
Siena Capital Partners Gp, LLC −67K −24.4% 209K $6.3M
Alliancebernstein L.P. Active manager −22K Sold out 0 —
Stifel Financial Corp −19K Sold out 0 —
Banc Funds Co LLC −18K −36.5% 31K $941,847
Numerai Gp LLC −16K Sold out 0 —
Bridgeway Capital Management, LLC Active manager −15K −33.6% 30K $889,012
Squarepoint Ops LLC Hedge fund −10K −42.0% 14K $418,539
Mariner, LLC −8,559 Sold out 0 —
Petiole Usa Ltd −2,600 −0.8% 305K $9.2M
Wealthcare Advisory Partners LLC −845 −5.8% 14K $410,013
Bank Of America Corp −827 −6.7% 11K $343,039
Northern Trust Corp Index funds −405 −0.6% 62K $1.9M
California State Teachers Retirement System −312 −73.9% 110 $3,302
Cutler Capital Management, LLC −300 −0.1% 204K $6.1M
Sterling Capital Management LLC −86 −34.8% 161 $4,833
Mirae Asset Global Etfs Holdings Ltd. −25 −0.7% 3,669 $110,143
Tower Research Capital LLC (TRC) −24 −4.0% 579 $17,382
Root Financial Partners, LLC −11 Sold out 0 —
Mai Capital Management −3 Sold out 0 —

New positions

largest by value
InstitutionSharesValue June 30, 2026
Qube Research & Technologies LtdHedge fund 64K $1.9M
SG Americas Securities, LLC 63K $1.9M
Renaissance Technologies LLCHedge fund 34K $1M
Arrowstreet Capital, Limited PartnershipHedge fund 30K $892,405
AQR Capital Management LLCHedge fund 27K $796,551
Xtx Topco Ltd 25K $761,878
Sei Investments Co 9,583 $287,682
Victory Capital Management IncActive manager 8,890 $266,878
Los Angeles Capital Management LLCActive manager 1,117 $33,532
Royal Bank Of Canada 479 $14,000

Sold out

largest by value
InstitutionSharesValue March 31, 2026
Fourthstone LLC 774K $20.8M
Alliancebernstein L.P.Active manager 22K $545,436
Stifel Financial Corp 19K $524,402
Numerai Gp LLC 16K $426,790
Mariner, LLC 8,559 $230,408
Root Financial Partners, LLC 11 $296
Mai Capital Management 3 $81
True Wealth Design, LLC 1 $27

Who holds the shares

13F holdings at June 30, 2026
Institutions reporting
90
Ten largest holders
62.6%
of 13F-reported shares
Index fund managers
36.8%
of 13F-reported shares
Active managers and hedge funds
21.1%
of 13F-reported shares
Buying and selling by type of institution, March 31, 2026 to June 30, 2026
TypeBoughtSoldNewSold outNet change in sharesNet %
Active managers and hedge funds 15 3 7 1 +480K +139.4%
Index fund managers 8 1 0 0 +227K +18.8%
Other institutions 33 19 9 7 −611K −27.1%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

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