First Nebraska Trust Co Q2 2023 Portfolio Changes: Strategic Shifts in Consumer Defensive and Technology Sectors

As part of its ongoing investment strategy, First Nebraska Trust Co made notable changes to its portfolio holdings in Q2 2023. The filing reveals a dynamic period with both additions and reductions.

The investor maintained a diverse holding count of 175 stocks this quarter, but the distribution shifted slightly from previous periods. Overall sector allocation saw adjustments, particularly within Consumer Defensive and Technology sectors where activity was prominent.

New Positions & Significant Buys

First Nebraska Trust Co initiated several new positions or significantly increased its stake during Q2 2023:

• Allegion PLC (G0176J109) was added with a purchase of all shares, representing an immediate portfolio allocation increase.
• Berkshire Hathaway INC DEL (BRK-B), already a major holding, saw its stake grow by approximately $3.2 million due to share increases.
• EOG Resources Inc (EOG) experienced a substantial increase in shares and value, indicating strong confidence in the Energy sector.
• TREX Co Inc (TREX), an Industrials stock, saw significant share growth of over 41%, highlighting a focus on this sector.
• AFLAC INC (AFL) was added with all shares purchased, contributing to the Financial Services allocation.
• Canadian Pacific Kansas City Inc (CP), another Industrials stock, also saw a full share increase.

Their actions in Q2 reflect targeted growth opportunities. The addition of Berkshire Hathaway INC DEL, despite its large size and significant share increase, underscores the investor's long-term confidence in this cornerstone holding.

Focus on Technology & Consumer Defensive

The Technology sector remained a key focus area for First Nebraska Trust Co:

• Microsoft Corp (MSFT) saw an increase in shares, albeit modestly.
• Apple Inc (AAPL) experienced a decrease in its share count during the quarter.
• Applied Materials Inc (AMAT) also saw an increase in shares, adding to the Technology allocation.

Simultaneously, Consumer Defensive stocks continued to be a significant part of their portfolio:

• Hormel Foods Corp (HRL), known for its increased share count and value growth during Q2, remains the largest holding.
• The investor also purchased shares in other Consumer Defensive stocks like Allegion PLC (G0176J109).

This quarter's activity shows a continued emphasis on established sectors like Technology and Consumer Defensive, alongside targeted additions in other areas.