Ames National Corp.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 6, 2025), Ames National Corp. reported 62 stock positions worth $149.0 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 20.3% of the portfolio, followed by Vanguard Short-Term Bond ETF (BSV, 7.6%) and Vanguard Total Bond Market (BND, 7.3%). Compared with Q4 2024, it sold out of 6, added to 20 and reduced 15. The biggest buy was Berkshire Hathaway Class B (BRK.B, shares +46%) and the biggest sale Apple (AAPL, shares −1%).

Most Recent 13F
Q2 2026
Location
AMES, IA
CIK
0001132651
Portfolio Value
$149.0M (Q1 2025)
SEC Filing
0001437749-25-014714 ↗ filed May 6, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q4 2024: $148.5M Q4 2024 Q1 2025: $149.0M $149.0M Q1 2025 Q2 2025: $154.6M Q2 2025 Q3 2025: $168.4M Q3 2025 Q4 2025: $170.8M Q4 2025 Q1 2026: $166.6M Q1 2026 Q2 2026: $181.8M Q2 2026

Holdings 62 stocks · $149.0M
IVV iShares Core S&P 500 ETF 20.29% 53,794 $30.2M Add +4.8%
BSV Vanguard Short-Term Bond ETF 7.59% 144,535 $11.3M Add +5.3%
BND Vanguard Total Bond Market 7.34% 148,945 $10.9M Add +6.0%
AGG iShares Core U.S. Aggregate 7.32% 110,306 $10.9M Add +5.0%
MSFT Microsoft Corp. 4.75% 18,859 $7.1M Add +0.2%
IWR iShares Russell Mid-Cap ETF 3.51% 61,543 $5.2M Reduce -0.3%
VXUS Vanguard Total Intl Stock 3.15% 75,551 $4.7M Add +4.7%
VTIP Vanguard Short-Term Tips 3.10% 92,705 $4.6M Add +4.3%
AAPL Apple Inc. 2.81% 18,859 $4.2M Reduce -0.9%
IWM iShares Russell 2000 ETF 2.41% 18,017 $3.6M Reduce -0.8%
GOEPPINGER ENTERPRISES INC 2.24% 1,202 $3.3M No change
HD Home Depot Inc. 2.10% 8,549 $3.1M Reduce -0.3%
XLK SS Technology Select Sector 2.01% 14,475 $3.0M Add +5.3%
VTI VG Morningstar TS MKT ETF-US 1.89% 10,269 $2.8M No change
IJH iShares Core S&P Midcap ETF 1.80% 45,906 $2.7M Add +10.2%
BRK.B Berkshire Hathaway Inc. Class B 1.75% 4,902 $2.6M Add +45.7%
JPM JPMorgan Chase & Co. 1.50% 9,090 $2.2M Reduce -1.8%
JNJ Johnson & Johnson 1.46% 13,127 $2.2M Reduce -0.2%
PG The Procter & Gamble Co. 1.31% 11,440 $1.9M Reduce -4.9%
ADP Automatic Data Processing 1.23% 5,975 $1.8M No change
MCD McDonald's Corp. 1.19% 5,690 $1.8M No change
TRV The Travelers Cos Inc. 1.17% 6,617 $1.7M Add +1.2%
GOOG Alphabet Inc. Class C 1.15% 10,925 $1.7M Add +1.7%
IJR iShares Core S&P Small-Cap E 1.10% 15,635 $1.6M Add +11.5%
VOO Vanguard S&P 500 ETF 1.03% 2,981 $1.5M Add +1.4%
CVX Chevron Corp. 1.01% 8,962 $1.5M No change
UNP Union Pacific Corp. 0.92% 3,768 $1.4M Reduce -35.2%
UNH Unitedhealth Group Inc. 0.76% 2,174 $1.1M No change
XOM Exxon Mobil Corp. 0.72% 9,071 $1.1M No change
PFF iShares Preferred & Income S 0.61% 29,492 $906K Add +0.3%
CSCO Cisco Systems Inc. 0.61% 14,611 $902K No change
WMT Walmart Inc. 0.58% 9,892 $868K Reduce -0.5%
MRK Merck & Co. Inc. 0.58% 9,664 $867K Reduce -0.8%
GD General Dynamics Corp. 0.50% 2,747 $749K No change
ATLO Ames National Corp. 0.50% 42,497 $745K Add +73.5%
BLK BlackRock Inc. 0.49% 771 $730K Add +4.0%
V Visa Inc. Class A 0.49% 2,074 $727K Add +3.8%
QCOM Qualcomm Inc. 0.45% 4,384 $673K No change
PEP Pepsico Inc. 0.44% 4,380 $657K Reduce -0.9%
BX Blackstone Inc. 0.37% 3,900 $545K Reduce -2.5%
NSC Norfolk Southern Corp. 0.35% 2,200 $521K No change
CASY Casey's General Stores Inc. 0.35% 1,200 $521K No change
PPG PPG Industries Inc. 0.34% 4,598 $503K No change
DE Deere & Co. 0.33% 1,058 $497K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.33% 878 $491K No change
VZ Verizon Communications Inc. 0.30% 10,003 $454K Reduce -1.7%
AFL Aflac Inc. 0.30% 4,035 $449K No change
GOOGL Alphabet Inc. Class A 0.30% 2,863 $443K No change
VYM Vanguard High DVD Yield ETF 0.29% 3,400 $438K No change
SYY Sysco Corp. 0.28% 5,560 $417K Reduce -9.4%
PFE Pfizer Inc. 0.27% 16,162 $410K No change
NKE Nike Inc. Class B 0.27% 6,328 $402K No change
T AT&T Inc. 0.27% 14,037 $397K No change
APD Air Products & Chemicals Inc. 0.25% 1,285 $379K No change
LNT Alliant Energy Corp. 0.25% 5,745 $370K Add +0.1%
KO The Coca-Cola Co. 0.24% 4,947 $354K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.21% 3,232 $319K Reduce -15.3%
ABT Abbott Laboratories 0.21% 2,325 $308K No change
RTX RTX Corp. 0.20% 2,278 $302K No change
EMR Emerson Electric Co. 0.16% 2,200 $241K No change
WFC Wells Fargo & Co. 0.15% 3,135 $225K Add +4.5%
DNP DNP Select Income Fund Inc. 0.09% 13,845 $137K No change

Portfolio Sells Q4 2024 → Q1 2025
AAPL Apple Inc. Reduce -0.9% 2.81% −0.40
AMGN Amgen Inc. Sold out 0.00% −0.39
IWM iShares Russell 2000 ETF Reduce -0.8% 2.41% −0.29
SYK Stryker Corp. Sold out 0.00% −0.18
ABBV Abbvie Inc. Sold out 0.00% −0.18
IWR iShares Russell Mid-Cap ETF Reduce -0.3% 3.51% −0.16
SHV iShares 0-1 Year Treasury Bo Sold out 0.00% −0.16
VEA Vanguard Ftse Developed ETF Sold out 0.00% −0.16
DHR Danaher Corp. Sold out 0.00% −0.15
HD Home Depot Inc. Reduce -0.3% 2.10% −0.14
BX Blackstone Inc. Reduce -2.5% 0.37% −0.10
PG The Procter & Gamble Co. Reduce -4.9% 1.31% −0.09
DIS The Walt Disney Co. Reduce -15.3% 0.21% −0.07
MRK Merck & Co. Inc. Reduce -0.8% 0.58% −0.07
SYY Sysco Corp. Reduce -9.4% 0.28% −0.04
WMT Walmart Inc. Reduce -0.5% 0.58% −0.02
PEP Pepsico Inc. Reduce -0.9% 0.44% −0.01
JPM JPMorgan Chase & Co. Reduce -1.8% 1.50% +0.00
UNP Union Pacific Corp. Reduce -35.2% 0.92% +0.03
VZ Verizon Communications Inc. Reduce -1.7% 0.30% +0.03
JNJ Johnson & Johnson Reduce -0.2% 1.46% +0.18

Portfolio Buys Q4 2024 → Q1 2025
BRK.B Berkshire Hathaway Inc. Class B Add +45.7% 1.75% +0.73
BND Vanguard Total Bond Market Add +6.0% 7.34% +0.54
AGG iShares Core U.S. Aggregate Add +5.0% 7.32% +0.47
BSV Vanguard Short-Term Bond ETF Add +5.3% 7.59% +0.45
VXUS Vanguard Total Intl Stock Add +4.7% 3.15% +0.28
ATLO Ames National Corp. Add +73.5% 0.50% +0.23
VTIP Vanguard Short-Term Tips Add +4.3% 3.10% +0.21
TRV The Travelers Cos Inc. Add +1.2% 1.17% +0.11
V Visa Inc. Class A Add +3.8% 0.49% +0.06
IJH iShares Core S&P Midcap ETF Add +10.2% 1.80% +0.05
LNT Alliant Energy Corp. Add +0.1% 0.25% +0.02
IJR iShares Core S&P Small-Cap E Add +11.5% 1.10% +0.01
WFC Wells Fargo & Co. Add +4.5% 0.15% +0.01
PFF iShares Preferred & Income S Add +0.3% 0.61% −0.01
BLK BlackRock Inc. Add +4.0% 0.49% −0.02
VOO Vanguard S&P 500 ETF Add +1.4% 1.03% −0.04
IVV iShares Core S&P 500 ETF Add +4.8% 20.29% −0.06
XLK SS Technology Select Sector Add +5.3% 2.01% −0.15
GOOG Alphabet Inc. Class C Add +1.7% 1.15% −0.23
MSFT Microsoft Corp. Add +0.2% 4.75% −0.59

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 69$181.8MIVV, BSV, BND, AGG, VXUS
Q1 2026 67$166.6MIVV, BSV, BND, AGG, VXUS
Q4 2025 66$170.8MIVV, BSV, BND, AGG, MSFT
Q3 2025 69$168.4MIVV, BSV, BND, AGG, MSFT
Q2 2025 65$154.6MIVV, BSV, BND, AGG, MSFT
Q1 2025 62$149.0MIVV, BSV, BND, AGG, MSFT
Q4 2024 68$148.5MIVV, BSV, AGG, BND, MSFT