FIRST NATIONAL BANK SIOUX FALLS

CIK 0001085041 · Q1 2026

13F Equity AUM

$365.5M

+9.4% QoQ

Positions

146

+8 QoQ

AUM Rank

#5,239

Top 42%

Skill Alpha (FF)

-1.5%/yr^ns

No Clear Edge

Rank #4,417 · Top 54%

vs S&P -4.8%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 35.7%Top 10: 51.9%Top 20: 69.5%

VOO8.9%

JMTG8.6%

AVDE7.0%

IDEV6.0%

AVLV5.2%

VO4.0%

RSP3.1%

DFAX3.1%

VTV3.1%

DFAS3.0%

Others (136)48.1%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services79.0%

Technology4.9%

Industrials3.4%

Consumer Cyclical3.1%

Healthcare2.1%

Other7.5%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 146Median: 0.19%Avg: 0.68%

0–0.5%

109(18.6%)

0.5–1%

16(10.8%)

1–3%

12(21.7%)

3–5%

4(13.2%)

5%+

5(35.7%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 141Unique: 5vs 20 funds

1.9%Low

146

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

2.7%

BANK OF AMERICA CORP /DE/

2.9%

4.6%

3.2%

3.1%

GEODE CAPITAL MANAGEMENT, LLC

2.8%

VANGUARD CAPITAL MANAGEMENT LLC

2.9%

VANGUARD PORTFOLIO MANAGEMENT LLC

3.4%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New12Increased32Decreased56Exited4

New Positions

USEW0.7%

+51K

LPRE0.2%

+29K

COLDEUR0.2%

+50K

FICO0.1%

+522

POOL0.1%

+2K

Q0.1%

+3K

CNS0.1%

+4K

CSD0.1%

+2K

DYH0.1%

+2K

VLO0.1%

+842

Increased

ELM0.5%

+33K(+101%)

JMTG8.6%

+30K(+5%)

DFAI1.3%

+17K(+18%)

VNO0.2%

+12K(+75%)

SCHG2.5%

+12K(+4%)

AVDE7.0%

+12K(+4%)

AVLV5.2%

+11K(+5%)

DFAS3.0%

+10K(+7%)

WTV0.6%

+10K(+78%)

CPB0.1%

+8K(+42%)

Decreased

WFC0.3%

-908(-6%)

MUB0.3%

-681(-5%)

BAC0.4%

-590(-2%)

ORCL0.6%

-531(-4%)

ORLY0.2%

-410(-5%)

DIS0.3%

-406(-4%)

NVDA0.1%

-325(-15%)

AAPL1.6%

-293(-1%)

TJX0.3%

-244(-4%)

BX0.6%

-238(-1%)

Exited

COF

-955

QCOM

-1,395

ADBE

-700

-2,050

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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