Ames National Corp.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Ames National Corp. reported 65 stock positions worth $154.6 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 22.2% of the portfolio, followed by Vanguard Short-Term Bond ETF (BSV, 7.0%) and Vanguard Total Bond Market (BND, 6.7%). Compared with Q1 2025, it opened 5 new positions, sold out of 2, added to 11 and reduced 31. The biggest buy was iShares Core S&P 500 ETF (IVV, shares +3%) and the biggest sale Vanguard Total Bond Market (BND, shares −5%).

Most Recent 13F
Q2 2026
Location
AMES, IA
CIK
0001132651
Portfolio Value
$154.6M (Q2 2025)
SEC Filing
0001437749-25-026065 ↗ filed Aug 12, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q4 2024: $148.5M Q4 2024 Q1 2025: $149.0M Q1 2025 Q2 2025: $154.6M $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 65 stocks · $154.6M
IVV iShares Core S&P 500 ETF 22.20% 55,284 $34.3M Add +2.8%
BSV Vanguard Short-Term Bond ETF 7.01% 137,754 $10.8M Reduce -4.7%
BND Vanguard Total Bond Market 6.74% 141,555 $10.4M Reduce -5.0%
AGG iShares Core U.S. Aggregate 6.73% 104,836 $10.4M Reduce -5.0%
MSFT Microsoft Corp. 5.54% 17,226 $8.6M Reduce -8.7%
IWR iShares Russell Mid-Cap ETF 3.57% 59,972 $5.5M Reduce -2.5%
VXUS Vanguard Total Intl Stock 3.34% 74,768 $5.2M Reduce -1.0%
VTIP Vanguard Short-Term Tips 2.82% 86,650 $4.4M Reduce -6.5%
IWM iShares Russell 2000 ETF 2.44% 17,454 $3.8M Reduce -3.1%
AAPL Apple Inc. 2.42% 18,234 $3.7M Reduce -3.3%
XLK SS Technology Select Sector 2.21% 13,505 $3.4M Reduce -6.7%
GOEPPINGER ENTERPRISES INC 2.16% 1,202 $3.3M No change
VTI VG Morningstar TS MKT ETF-US 2.02% 10,269 $3.1M No change
HD Home Depot Inc. 1.94% 8,196 $3.0M Reduce -4.1%
IJH iShares Core S&P Midcap ETF 1.88% 46,986 $2.9M Add +2.4%
JPM JPMorgan Chase & Co. 1.59% 8,490 $2.5M Reduce -6.6%
BRK.B Berkshire Hathaway Inc. Class B 1.47% 4,674 $2.3M Reduce -4.7%
JNJ Johnson & Johnson 1.30% 12,635 $2.0M Reduce -3.8%
GOOG Alphabet Inc. Class C 1.25% 10,855 $1.9M Reduce -0.6%
IJR iShares Core S&P Small-Cap E 1.19% 16,846 $1.8M Add +7.8%
ADP Automatic Data Processing 1.18% 5,940 $1.8M Reduce -0.6%
VOO Vanguard S&P 500 ETF 1.14% 3,091 $1.8M Add +3.7%
TRV The Travelers Cos Inc. 1.11% 6,407 $1.7M Reduce -3.2%
PG The Procter & Gamble Co. 1.06% 10,250 $1.6M Reduce -10.4%
MCD McDonald's Corp. 1.01% 5,320 $1.6M Reduce -6.5%
CVX Chevron Corp. 0.94% 6,492 $1.5M Reduce -27.6%
UNP Union Pacific Corp. 0.89% 5,982 $1.4M Add +58.8%
CSCO Cisco Systems Inc. 0.66% 14,777 $1.0M Add +1.1%
XOM Exxon Mobil Corp. 0.63% 9,071 $978K No change
WMT Walmart Inc. 0.62% 9,837 $962K Reduce -0.6%
ATLO Ames National Corp. 0.59% 51,557 $918K Add +21.3%
WFC Wells Fargo & Co. 0.58% 11,135 $892K Add +255.2%
GD General Dynamics Corp. 0.52% 2,747 $801K No change
MRK Merck & Co. Inc. 0.48% 9,314 $737K Reduce -3.6%
PFF iShares Preferred & Income S 0.47% 23,462 $720K Reduce -20.4%
V Visa Inc. Class A 0.46% 1,999 $710K Reduce -3.6%
QCOM Qualcomm Inc. 0.45% 4,409 $702K Add +0.6%
BLK BlackRock Inc. 0.45% 669 $702K Reduce -13.2%
UNH Unitedhealth Group Inc. 0.44% 2,174 $678K No change
BX Blackstone Inc. 0.38% 3,900 $583K No change
NSC Norfolk Southern Corp. 0.36% 2,200 $563K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.35% 878 $542K No change
PPG PPG Industries Inc. 0.34% 4,570 $520K Reduce -0.6%
GOOGL Alphabet Inc. Class A 0.33% 2,863 $505K No change
NKE Nike Inc. Class B 0.30% 6,528 $464K Add +3.2%
DE Deere & Co. 0.30% 908 $462K Reduce -14.2%
VYM Vanguard High DVD Yield ETF 0.29% 3,400 $453K No change
PEP Pepsico Inc. 0.29% 3,380 $446K Reduce -22.8%
AFL Aflac Inc. 0.28% 4,035 $426K No change
T AT&T Inc. 0.26% 14,037 $406K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.26% 3,232 $401K No change
PFE Pfizer Inc. 0.25% 16,162 $392K No change
SYY Sysco Corp. 0.25% 5,095 $386K Reduce -8.4%
VZ Verizon Communications Inc. 0.25% 8,763 $379K Reduce -12.4%
APD Air Products & Chemicals Inc. 0.23% 1,285 $362K No change
KO The Coca-Cola Co. 0.23% 4,947 $350K No change
COP Conocophillips 0.22% 3,787 $340K New
RTX RTX Corp. 0.22% 2,278 $333K No change
ABT Abbott Laboratories 0.20% 2,325 $316K No change
ABBV Abbvie Inc. 0.18% 1,465 $272K New
DNP DNP Select Income Fund Inc. 0.17% 26,845 $263K Add +93.9%
LNT Alliant Energy Corp. 0.17% 4,285 $259K Reduce -25.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.15% 779 $230K New
VEA Vanguard Ftse Developed ETF 0.14% 3,736 $213K New
KMB Kimberly-Clark Corp. 0.13% 1,675 $207K New

Portfolio Sells Q1 2025 → Q2 2025
BND Vanguard Total Bond Market Reduce -5.0% 6.74% −0.60
AGG iShares Core U.S. Aggregate Reduce -5.0% 6.73% −0.60
BSV Vanguard Short-Term Bond ETF Reduce -4.7% 7.01% −0.58
AAPL Apple Inc. Reduce -3.3% 2.42% −0.39
CASY Casey's General Stores Inc. Sold out 0.00% −0.35
VTIP Vanguard Short-Term Tips Reduce -6.5% 2.82% −0.29
BRK.B Berkshire Hathaway Inc. Class B Reduce -4.7% 1.47% −0.28
PG The Procter & Gamble Co. Reduce -10.4% 1.06% −0.25
MCD McDonald's Corp. Reduce -6.5% 1.01% −0.19
EMR Emerson Electric Co. Sold out 0.00% −0.16
HD Home Depot Inc. Reduce -4.1% 1.94% −0.16
JNJ Johnson & Johnson Reduce -3.8% 1.30% −0.16
PEP Pepsico Inc. Reduce -22.8% 0.29% −0.15
PFF iShares Preferred & Income S Reduce -20.4% 0.47% −0.14
MRK Merck & Co. Inc. Reduce -3.6% 0.48% −0.11
LNT Alliant Energy Corp. Reduce -25.4% 0.17% −0.08
TRV The Travelers Cos Inc. Reduce -3.2% 1.11% −0.07
CVX Chevron Corp. Reduce -27.6% 0.94% −0.06
VZ Verizon Communications Inc. Reduce -12.4% 0.25% −0.06
ADP Automatic Data Processing Reduce -0.6% 1.18% −0.04
BLK BlackRock Inc. Reduce -13.2% 0.45% −0.04
DE Deere & Co. Reduce -14.2% 0.30% −0.03
SYY Sysco Corp. Reduce -8.4% 0.25% −0.03
V Visa Inc. Class A Reduce -3.6% 0.46% −0.03
PPG PPG Industries Inc. Reduce -0.6% 0.34% −0.00
IWM iShares Russell 2000 ETF Reduce -3.1% 2.44% +0.02
WMT Walmart Inc. Reduce -0.6% 0.62% +0.04
IWR iShares Russell Mid-Cap ETF Reduce -2.5% 3.57% +0.05
JPM JPMorgan Chase & Co. Reduce -6.6% 1.59% +0.10
GOOG Alphabet Inc. Class C Reduce -0.6% 1.25% +0.10
VXUS Vanguard Total Intl Stock Reduce -1.0% 3.34% +0.19
XLK SS Technology Select Sector Reduce -6.7% 2.21% +0.21
MSFT Microsoft Corp. Reduce -8.7% 5.54% +0.79

Portfolio Buys Q1 2025 → Q2 2025
IVV iShares Core S&P 500 ETF Add +2.8% 22.20% +1.91
WFC Wells Fargo & Co. Add +255.2% 0.58% +0.43
COP Conocophillips New 0.22% +0.22
ABBV Abbvie Inc. New 0.18% +0.18
IBM Intl Business Machines Corp. New 0.15% +0.15
VEA Vanguard Ftse Developed ETF New 0.14% +0.14
KMB Kimberly-Clark Corp. New 0.13% +0.13
VOO Vanguard S&P 500 ETF Add +3.7% 1.14% +0.11
ATLO Ames National Corp. Add +21.3% 0.59% +0.09
IJR iShares Core S&P Small-Cap E Add +7.8% 1.19% +0.09
IJH iShares Core S&P Midcap ETF Add +2.4% 1.88% +0.09
DNP DNP Select Income Fund Inc. Add +93.9% 0.17% +0.08
CSCO Cisco Systems Inc. Add +1.1% 0.66% +0.06
NKE Nike Inc. Class B Add +3.2% 0.30% +0.03
QCOM Qualcomm Inc. Add +0.6% 0.45% +0.00
UNP Union Pacific Corp. Add +58.8% 0.89% −0.03

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