Finward Bancorp

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Finward Bancorp reported 104 stock positions worth $115.4 million. Its top holding was Proshares Ultrapro QQQ (TQQQ) at 7.6% of the portfolio, followed by Microsoft (MSFT, 5.7%) and SS SPDR BB Conv Sec ETF (CWB, 5.1%). Compared with Q4 2024, it opened 6 new positions, sold out of 5, added to 22 and reduced 39. The biggest buy was a new position in NT Crdscr US Corp. BD ETF (SKOR) and the biggest sale Microsoft (MSFT, shares −2%).

Most Recent 13F
Q2 2026
Location
Munster, IN
CIK
0000919864
Portfolio Value
$115.4M (Q1 2025)
SEC Filing
0001628280-25-025703 ↗ filed May 15, 2025

Holdings Value

0$50.0M$100.0M$150.0M Q4 2024: $115.3M Q4 2024 Q1 2025: $115.4M $115.4M Q1 2025 Q2 2025: $126.6M Q2 2025 Q3 2025: $131.6M Q3 2025 Q4 2025: $128.8M Q4 2025 Q1 2026: $125.1M Q1 2026 Q2 2026: $131.9M Q2 2026

Holdings 104 stocks · $115.4M
TQQQ Proshares Ultrapro QQQ 7.55% 152,062 $8.7M Add +37.1%
MSFT Microsoft Corp. 5.70% 17,521 $6.6M Reduce -2.1%
CWB SS SPDR BB Conv Sec ETF 5.06% 76,162 $5.8M Reduce -0.6%
VOO Vanguard S&P 500 ETF 4.75% 10,662 $5.5M Add +1.1%
VUG Vanguard Mrngstar GR ETF-Sui 4.33% 13,480 $5.0M Reduce -2.2%
AAPL Apple Inc. 3.76% 19,512 $4.3M Reduce -1.6%
FNWD Finward Bancorp 3.57% 141,673 $4.1M Reduce -4.6%
SPGP Invesco S&P 500 Garp ETF 3.01% 34,811 $3.5M Add +1.1%
QQQ Invesco QQQ Trust Series 1 2.75% 6,767 $3.2M Add +1.0%
FVD First Trust Value Line DVD 1.94% 50,211 $2.2M Reduce -0.6%
SKOR NT Crdscr US Corp. BD ETF 1.93% 46,185 $2.2M New
VIG Vanguard Dividend Apprec ETF 1.77% 10,540 $2.0M Add +1.1%
NOBL Proshares S&P 500 Dividend A 1.68% 18,997 $1.9M Add +0.4%
MGK Vngrd Mrgstr MG CP GR ETF-Ui 1.56% 5,827 $1.8M Reduce -0.1%
JNJ Johnson & Johnson 1.54% 10,689 $1.8M Reduce -0.6%
MGV Vngrd Mrgstr MG CP VL ETF-Ui 1.51% 13,552 $1.7M Add +1.3%
IJH iShares Core S&P Midcap ETF 1.48% 29,345 $1.7M Reduce -1.3%
VGT Vanguard Info Tech ETF 1.44% 3,059 $1.7M Add +1.7%
JPM JPMorgan Chase & Co. 1.43% 6,719 $1.6M Add +0.8%
PG The Procter & Gamble Co. 1.31% 8,881 $1.5M Reduce -1.1%
MCD McDonald's Corp. 1.24% 4,590 $1.4M Reduce -2.8%
ABBV Abbvie Inc. 1.20% 6,616 $1.4M No change
COST Costco Wholesale Corp. 1.09% 1,326 $1.3M No change
VYM Vanguard High DVD Yield ETF 1.07% 9,573 $1.2M Reduce -2.7%
XLK SS Technology Select Sector 1.03% 5,770 $1.2M Add +4.5%
NI Nisource Inc. 0.97% 27,804 $1.1M Reduce -6.8%
KO The Coca-Cola Co. 0.94% 15,180 $1.1M Reduce -0.2%
VIGI Vanguard Int Div App Indx FD 0.89% 12,321 $1.0M Add +16.8%
BND Vanguard Total Bond Market 0.87% 13,719 $1.0M Reduce -18.1%
AMZN Amazon.com Inc. 0.87% 5,296 $1.0M Reduce -1.2%
FDL First Trust Morn DVD Lead Inc. 0.85% 22,517 $978K No change
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.81% 3,815 $933K Reduce -0.7%
CMG Chipotle Mexican Grill Inc. 0.80% 18,432 $925K No change
V Visa Inc. Class A 0.80% 2,625 $920K Add +0.7%
XOM Exxon Mobil Corp. 0.80% 7,719 $918K Reduce -0.4%
WELL Welltower Inc. 0.79% 5,973 $915K Reduce -4.0%
AGG iShares Core U.S. Aggregate 0.79% 9,192 $909K Add +1.7%
WPM Wheaton Precious Metals Corp. 0.77% 11,400 $885K No change
NVDA Nvidia Corp. 0.73% 7,819 $847K No change
GVI iShares Intermediate Governm 0.73% 7,900 $838K No change
DTE DTE Energy Company 0.72% 6,000 $830K No change
IJR iShares Core S&P Small-Cap E 0.71% 7,808 $816K Reduce -0.2%
GLD SPDR Gold Shares 0.68% 2,712 $781K Add +0.9%
DUK Duke Energy Corp. 0.66% 6,255 $763K Reduce -0.7%
ABT Abbott Laboratories 0.63% 5,501 $730K No change
ETR Entergy Corp. 0.63% 8,460 $723K No change
HD Home Depot Inc. 0.59% 1,854 $679K Add +3.0%
XLI SS Industrial Select Sector 0.59% 5,158 $676K Add +0.6%
XLF SS Financial Select Sector 0.57% 13,320 $663K Reduce -0.7%
TRV The Travelers Cos Inc. 0.57% 2,500 $661K No change
BRK.B Berkshire Hathaway Inc. Class B 0.56% 1,219 $649K Add +4.5%
VZ Verizon Communications Inc. 0.56% 14,218 $645K Reduce -8.3%
SO The Southern Co. 0.55% 6,856 $630K No change
FISV Fiserv Inc. 0.53% 2,758 $609K No change
VHT Vanguard Health Care ETF 0.52% 2,249 $595K Reduce -0.1%
META Meta Platforms Inc. Class A 0.51% 1,029 $593K Reduce -5.7%
SPY SS SPDR S&P 500 ETF Trust-US 0.49% 1,015 $568K Add +10.2%
VTV Vanguard Mrngstr Val ETF-Aui 0.49% 3,285 $567K Add +2.8%
ELV Elevance Health Inc. 0.49% 1,303 $567K No change
AEP American Electric Power 0.49% 5,145 $562K No change
PEP Pepsico Inc. 0.48% 3,722 $558K Reduce -9.8%
SPHD Invesco S&P 500 High Dividen 0.47% 10,782 $542K Reduce -1.9%
PAYX Paychex Inc. 0.45% 3,379 $521K No change
T AT&T Inc. 0.45% 18,203 $515K Reduce -1.3%
EFA iShares MSCI Eafe ETF 0.44% 6,273 $513K Reduce -41.9%
BP BP PLC-Spons ADR 0.44% 14,954 $505K Reduce -3.2%
MDT Medtronic PLC 0.44% 5,600 $503K Reduce -0.9%
EXC Exelon Corp. 0.39% 9,651 $445K No change
ENB Enbridge Inc. 0.38% 9,885 $438K No change
PM Philip Morris International 0.36% 2,602 $413K No change
WMT Walmart Inc. 0.36% 4,674 $410K Reduce -5.0%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.35% 2,145 $400K Reduce -3.0%
VBK Van Morst SML-Cap Gro-Usd Inc. 0.34% 1,576 $397K Add +1.7%
UPS United Parcel Service Class B 0.34% 3,560 $392K No change
WBA Walgreens Boots Alliance Inc. 0.32% 32,575 $364K No change
GOOGL Alphabet Inc. Class A 0.31% 2,298 $355K No change
MFC Manulife Financial Corp. 0.30% 10,984 $342K No change
MAR Marriott International Class A 0.28% 1,375 $328K Reduce -9.9%
LLY Eli Lilly & Co. 0.28% 395 $326K No change
ADBE Adobe Inc. 0.28% 845 $324K No change
PFE Pfizer Inc. 0.27% 12,364 $313K Reduce -6.7%
NOC Northrop Grumman Corp. 0.27% 610 $312K No change
QCOM Qualcomm Inc. 0.26% 1,980 $304K No change
VOE Vngrd Mrngstr MD-Cap Val ETF 0.26% 1,867 $300K No change
VB Vanguard Most SM-Cap ETF-Usd 0.25% 1,317 $292K Add +6.4%
MO Altria Group Inc. 0.25% 4,718 $283K No change
CVX Chevron Corp. 0.23% 1,609 $269K Add +10.4%
BNTX Biontech SE-ADR 0.23% 2,955 $269K Reduce -0.3%
VRP Invesco Variable Rate Prefer 0.23% 11,085 $269K Reduce -0.8%
KWR Quaker Chemical Corporation 0.22% 2,065 $255K No change
LIN Linde PLC 0.21% 517 $241K Reduce -19.2%
EMR Emerson Electric Co. 0.20% 2,144 $235K No change
AZN Astrazeneca PLC-Spons ADR 0.20% 3,098 $228K New
BMY Bristol-Myers Squibb Co. 0.20% 3,695 $225K Reduce -4.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.19% 900 $224K New
CSCO Cisco Systems Inc. 0.19% 3,474 $214K No change
MCK McKesson Corp. 0.18% 316 $213K New
DTM DT Midstream Inc. 0.18% 2,185 $211K No change
TIP iShares Tips Bond ETF 0.18% 1,856 $206K New
DHR Danaher Corp. 0.18% 1,000 $205K No change
LMT Lockheed Martin Corp. 0.18% 456 $204K No change
WEC WEC Energy Group Inc. 0.17% 1,843 $201K New
MUA BlackRock Muniassets Fund 0.15% 15,536 $168K No change
BITF Bitfarms Ltd./Canada 0.01% 13,485 $11K No change

Portfolio Sells Q4 2024 → Q1 2025
MSFT Microsoft Corp. Reduce -2.1% 5.70% −0.84
VUG Vanguard Mrngstar GR ETF-Sui Reduce -2.2% 4.33% −0.57
AAPL Apple Inc. Reduce -1.6% 3.76% −0.55
EFA iShares MSCI Eafe ETF Reduce -41.9% 0.44% −0.26
LOW Lowe's Cos Inc. Sold out 0.00% −0.19
BNDX Vanguard Total Intl Bond ETF Sold out 0.00% −0.18
VNQ Vanguard Real Estate ETF Sold out 0.00% −0.18
QQQJ Invesco Nasdaq Next Gen 100 Sold out 0.00% −0.18
VTI VG Morningstar TS MKT ETF-US Sold out 0.00% −0.18
MGK Vngrd Mrgstr MG CP GR ETF-Ui Reduce -0.1% 1.56% −0.18
BND Vanguard Total Bond Market Reduce -18.1% 0.87% −0.17
AMZN Amazon.com Inc. Reduce -1.2% 0.87% −0.15
IJH iShares Core S&P Midcap ETF Reduce -1.3% 1.48% −0.12
CWB SS SPDR BB Conv Sec ETF Reduce -0.6% 5.06% −0.12
MAR Marriott International Class A Reduce -9.9% 0.28% −0.09
IJR iShares Core S&P Small-Cap E Reduce -0.2% 0.71% −0.07
PEP Pepsico Inc. Reduce -9.8% 0.48% −0.06
BNTX Biontech SE-ADR Reduce -0.3% 0.23% −0.06
FNWD Finward Bancorp Reduce -4.6% 3.57% −0.05
META Meta Platforms Inc. Class A Reduce -5.7% 0.51% −0.04
VOT Vngrd Mrngstr MC GRW ETF-Usd Reduce -0.7% 0.81% −0.04
VBR Vngrd Mrngst SL-CP Val ETF-U Reduce -3.0% 0.35% −0.03
PFE Pfizer Inc. Reduce -6.7% 0.27% −0.03
WMT Walmart Inc. Reduce -5.0% 0.36% −0.03
LIN Linde PLC Reduce -19.2% 0.21% −0.02
VYM Vanguard High DVD Yield ETF Reduce -2.7% 1.07% −0.02
VRP Invesco Variable Rate Prefer Reduce -0.8% 0.23% −0.00
BMY Bristol-Myers Squibb Co. Reduce -4.4% 0.20% +0.01
PG The Procter & Gamble Co. Reduce -1.1% 1.31% +0.01
SPHD Invesco S&P 500 High Dividen Reduce -1.9% 0.47% +0.01
XLF SS Financial Select Sector Reduce -0.7% 0.57% +0.01
NI Nisource Inc. Reduce -6.8% 0.97% +0.01
VHT Vanguard Health Care ETF Reduce -0.1% 0.52% +0.02
VZ Verizon Communications Inc. Reduce -8.3% 0.56% +0.02
FVD First Trust Value Line DVD Reduce -0.6% 1.94% +0.03
BP BP PLC-Spons ADR Reduce -3.2% 0.44% +0.04
MDT Medtronic PLC Reduce -0.9% 0.44% +0.04
MCD McDonald's Corp. Reduce -2.8% 1.24% +0.06
XOM Exxon Mobil Corp. Reduce -0.4% 0.80% +0.07
DUK Duke Energy Corp. Reduce -0.7% 0.66% +0.07
T AT&T Inc. Reduce -1.3% 0.45% +0.08
WELL Welltower Inc. Reduce -4.0% 0.79% +0.11
KO The Coca-Cola Co. Reduce -0.2% 0.94% +0.12
JNJ Johnson & Johnson Reduce -0.6% 1.54% +0.19

Portfolio Buys Q4 2024 → Q1 2025
SKOR NT Crdscr US Corp. BD ETF New 1.93% +1.93
AZN Astrazeneca PLC-Spons ADR New 0.20% +0.20
IBM Intl Business Machines Corp. New 0.19% +0.19
MCK McKesson Corp. New 0.18% +0.18
TIP iShares Tips Bond ETF New 0.18% +0.18
WEC WEC Energy Group Inc. New 0.17% +0.17
VIGI Vanguard Int Div App Indx FD Add +16.8% 0.89% +0.15
GLD SPDR Gold Shares Add +0.9% 0.68% +0.11
BRK.B Berkshire Hathaway Inc. Class B Add +4.5% 0.56% +0.10
V Visa Inc. Class A Add +0.7% 0.80% +0.08
MGV Vngrd Mrgstr MG CP VL ETF-Ui Add +1.3% 1.51% +0.06
CVX Chevron Corp. Add +10.4% 0.23% +0.05
NOBL Proshares S&P 500 Dividend A Add +0.4% 1.68% +0.05
JPM JPMorgan Chase & Co. Add +0.8% 1.43% +0.04
AGG iShares Core U.S. Aggregate Add +1.7% 0.79% +0.03
SPY SS SPDR S&P 500 ETF Trust-US Add +10.2% 0.49% +0.02
VTV Vanguard Mrngstr Val ETF-Aui Add +2.8% 0.49% +0.02
VIG Vanguard Dividend Apprec ETF Add +1.1% 1.77% +0.00
XLI SS Industrial Select Sector Add +0.6% 0.59% +0.00
VB Vanguard Most SM-Cap ETF-Usd Add +6.4% 0.25% −0.00
HD Home Depot Inc. Add +3.0% 0.59% −0.02
VBK Van Morst SML-Cap Gro-Usd Inc. Add +1.7% 0.34% −0.03
TQQQ Proshares Ultrapro QQQ Add +37.1% 7.55% −0.06
XLK SS Technology Select Sector Add +4.5% 1.03% −0.08
SPGP Invesco S&P 500 Garp ETF Add +1.1% 3.01% −0.12
VOO Vanguard S&P 500 ETF Add +1.1% 4.75% −0.18
VGT Vanguard Info Tech ETF Add +1.7% 1.44% −0.18
QQQ Invesco QQQ Trust Series 1 Add +1.0% 2.75% −0.22

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 107$131.9MVOO, SKOR, CWB, MSFT, VUG
Q1 2026 104$125.1MSKOR, VOO, CWB, MSFT, VUG
Q4 2025 104$128.8MMSFT, VOO, SKOR, CWB, VUG
Q3 2025 106$131.6MTQQQ, MSFT, VOO, CWB, VUG
Q2 2025 101$126.6MTQQQ, MSFT, VOO, CWB, VUG
Q1 2025 104$115.4MTQQQ, MSFT, CWB, VOO, VUG
Q4 2024 103$115.3MTQQQ, MSFT, CWB, VOO, VUG