13F-HR: First Financial Corp Discloses Q4 2025 Holdings

First Financial Corp /IN/ filed its Q4 2025 13F-HR report, revealing its equity holdings totaling over $264 million across 420 positions.

Summary

• First Financial Corp /IN/ submitted its Form 13F-HR for the calendar quarter ended December 31, 2025.
• The report details institutional investment holdings with a total market value of $264,943,784.
• The filing lists 420 distinct equity positions held by the institutional investment manager.
• Jennifer Hanley, Trust Operations Manager, signed the report on January 7, 2026.
• The largest holding by value is First Financial Corp's own common stock, totaling $37,949,862 across 628,101 shares, with a significant portion of voting authority (595,039 shares) designated as 'NONE'.
• Other significant holdings include Vanguard S&P 500 ETF ($32,895,477), Vanguard Information Technology ETF ($14,229,105), and Vanguard FTSE Developed Market ETF ($8,866,867).

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a factual, backward-looking disclosure of investment holdings, not an announcement of performance, strategic changes, or future plans.

Positives

• The filing demonstrates transparency by disclosing the institutional investment manager's equity holdings as required by SEC regulations.
• The portfolio exhibits broad diversification across various sectors and asset classes, including individual equities and numerous ETFs, suggesting a balanced investment strategy.

Negatives

• No specific negative information regarding the reporting manager's operations or financial health is contained within this holdings report.

Risks

• The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete; readers should not assume the information is accurate and complete.

Future Outlook

This Form 13F-HR filing is a historical disclosure of holdings and does not contain any forward-looking statements or guidance from the institutional investment manager.

Management Comments

• Jennifer L Hanley, Trust Operations Manager, represented that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

Industry Context

This filing provides a snapshot of First Financial Corp /IN/'s equity investment portfolio at the end of Q4 2025. As a financial institution, its 13F disclosures offer insights into its asset management strategy, often reflecting a mix of direct equity investments and diversified exchange-traded funds (ETFs) to manage client assets or proprietary capital. The inclusion of its own stock as the largest holding is common for bank holding companies managing trust assets.

Comparison to Industry Standards

• The filing adheres to the standard SEC Form 13F-HR requirements for institutional investment managers with over $100 million in qualifying assets.
• The portfolio's diversification across various sectors and market capitalizations, including large-cap tech (Apple, Microsoft, NVIDIA), healthcare (Eli Lilly, Johnson & Johnson), financials (JPMorgan Chase, Vanguard Financial ETF), and broad market ETFs (Vanguard S&P 500 ETF), is consistent with typical institutional asset management practices aimed at risk mitigation and broad market exposure.
• The significant allocation to ETFs (e.g., Vanguard S&P 500 ETF, Vanguard Information Technology ETF, iShares S&P Core S&P) suggests a strategy that leverages passive or semi-passive investment vehicles for efficient market exposure, a common approach among institutional investors.

Related Party Transactions

• The largest holding is the common stock of First Financial Corp, the reporting entity itself, valued at $37,949,862. This indicates the manager holds a significant position in its own company's stock, likely within managed client accounts or proprietary investments.

Stakeholder Impact

• Shareholders and potential investors gain transparency into the investment strategy and portfolio composition of First Financial Corp /IN/.
• Regulatory bodies receive the mandated disclosure of institutional investment activities, ensuring compliance with securities laws.

Next Steps

• The institutional investment manager will continue to file Form 13F-HR reports on a quarterly basis, disclosing its equity holdings for subsequent periods.

Key Dates

Keywords

13F-HR, Holdings Report, Institutional Investment, Equity Holdings, Portfolio Disclosure, SEC Filing, First Financial Corp, Investment Management, Q4 2025