Atlantic Union Bankshares Corp

Atlantic Union Bankshares' 13F lists 3,631 distinct positions — an order of magnitude more than a typical active manager's book, consistent with a bank trust department aggregating thousands of separate client accounts into one filing. Within that scale, a deliberate structure stands out: six defined-maturity bond ETFs (IBTP, IBTO, IBGA, BSCU, BSCV, BSCW) sit alongside the mega-cap tech core, each maturing in a different year — a bond ladder built entirely from ETF building blocks rather than individual bonds. IBTO ($35.6 million) is new this quarter, while an older iShares bond ETF ($32.5 million) rolled off, consistent with normal ladder maintenance as rungs mature and get replaced. RTX Corp's apparent sale-and-repurchase is a CUSIP reissuance, not a real trade.