Finward Bancorp

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Finward Bancorp reported 106 stock positions worth $131.6 million. Its top holding was Proshares Ultrapro QQQ (TQQQ) at 8.0% of the portfolio, followed by Microsoft (MSFT, 6.9%) and Vanguard S&P 500 ETF (VOO, 5.4%). Compared with Q2 2025, it opened 8 new positions, sold out of 3, added to 21 and reduced 48. The biggest buy was NT Crdscr US Corp. BD ETF (SKOR, shares +66%) and the biggest sale Proshares Ultrapro QQQ (TQQQ, shares −33%).

Most Recent 13F
Q2 2026
Location
Munster, IN
CIK
0000919864
Portfolio Value
$131.6M (Q3 2025)
SEC Filing
0001628280-25-052418 ↗ filed Nov 14, 2025

Holdings Value

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

Holdings 106 stocks · $131.6M
TQQQ Proshares Ultrapro QQQ 7.98% 101,612 $10.5M Reduce -32.8%
MSFT Microsoft Corp. 6.86% 17,423 $9.0M Add +0.1%
VOO Vanguard S&P 500 ETF 5.43% 11,669 $7.1M Add +4.4%
CWB SS SPDR BB Conv Sec ETF 4.85% 70,538 $6.4M Reduce -6.3%
VUG Vanguard Mrngstar GR ETF-Sui 4.52% 12,398 $5.9M Reduce -8.0%
SKOR NT Crdscr US Corp. BD ETF 4.26% 113,932 $5.6M Add +65.8%
AAPL Apple Inc. 3.56% 18,420 $4.7M Reduce -2.2%
FNWD Finward Bancorp 3.34% 136,842 $4.4M Reduce -3.2%
QQQ Invesco QQQ Trust Series 1 3.30% 7,238 $4.3M Add +0.9%
SPGP Invesco S&P 500 Garp ETF 2.56% 29,677 $3.4M Reduce -13.7%
MGK Vngrd Mrgstr MG CP GR ETF-Ui 1.96% 6,423 $2.6M Add +7.3%
VIG Vanguard Dividend Apprec ETF 1.93% 11,796 $2.5M Add +3.9%
FVD First Trust Value Line DVD 1.64% 46,801 $2.2M Reduce -6.7%
VGT Vanguard Info Tech ETF 1.64% 2,884 $2.2M Reduce -5.4%
JPM JPMorgan Chase & Co. 1.60% 6,674 $2.1M Reduce -0.4%
NOBL Proshares S&P 500 Dividend A 1.51% 19,332 $2.0M Add +0.1%
JNJ Johnson & Johnson 1.49% 10,572 $2.0M Reduce -2.1%
IJH iShares Core S&P Midcap ETF 1.43% 28,861 $1.9M Reduce -1.5%
MGV Vngrd Mrgstr MG CP VL ETF-Ui 1.42% 13,614 $1.9M Reduce -1.5%
XLK SS Technology Select Sector 1.28% 5,997 $1.7M Add +4.2%
NVDA Nvidia Corp. 1.18% 8,293 $1.5M Add +6.1%
ABBV Abbvie Inc. 1.16% 6,566 $1.5M Reduce -0.8%
VYM Vanguard High DVD Yield ETF 1.10% 10,244 $1.4M Add +9.5%
VIGI Vanguard Int Div App Indx FD 0.98% 14,442 $1.3M Add +5.2%
MCD McDonald's Corp. 0.97% 4,201 $1.3M Reduce -3.7%
WPM Wheaton Precious Metals Corp. 0.97% 11,400 $1.3M No change
PG The Procter & Gamble Co. 0.95% 8,099 $1.2M Reduce -6.7%
COST Costco Wholesale Corp. 0.93% 1,326 $1.2M No change
NI Nisource Inc. 0.90% 27,258 $1.2M Reduce -1.7%
AMZN Amazon.com Inc. 0.89% 5,354 $1.2M Add +1.1%
IJR iShares Core S&P Small-Cap E 0.84% 9,330 $1.1M Add +9.9%
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.79% 3,535 $1.0M Reduce -7.6%
KO The Coca-Cola Co. 0.75% 14,918 $989K Reduce -4.8%
WELL Welltower Inc. 0.73% 5,381 $959K Reduce -5.9%
V Visa Inc. Class A 0.68% 2,615 $893K Add +1.9%
GLD SPDR Gold Shares 0.65% 2,390 $850K Reduce -3.4%
DTE DTE Energy Company 0.64% 6,000 $849K No change
XOM Exxon Mobil Corp. 0.60% 7,059 $796K No change
ETR Entergy Corp. 0.60% 8,460 $788K No change
DUK Duke Energy Corp. 0.57% 6,048 $748K Reduce -3.2%
ABT Abbott Laboratories 0.56% 5,501 $737K No change
META Meta Platforms Inc. Class A 0.56% 1,003 $737K Reduce -0.6%
XLI SS Industrial Select Sector 0.56% 4,758 $734K Reduce -6.7%
CMG Chipotle Mexican Grill Inc. 0.55% 18,432 $722K No change
AGG iShares Core U.S. Aggregate 0.54% 7,132 $715K Reduce -22.4%
HD Home Depot Inc. 0.54% 1,754 $711K Reduce -10.0%
FDL First Trust Morn DVD Lead Inc. 0.52% 15,906 $690K Reduce -29.4%
VTV Vanguard Mrngstr Val ETF-Aui 0.51% 3,628 $677K Add +10.7%
BND Vanguard Total Bond Market 0.48% 8,529 $634K Reduce -37.8%
SO The Southern Co. 0.48% 6,686 $634K Reduce -2.5%
BRK.B Berkshire Hathaway Inc. Class B 0.47% 1,231 $619K Add +1.0%
GOOGL Alphabet Inc. Class A 0.44% 2,398 $583K Add +4.9%
EFA iShares MSCI Eafe ETF 0.44% 6,217 $580K Reduce -1.7%
VZ Verizon Communications Inc. 0.44% 13,057 $574K Reduce -6.8%
XLF SS Financial Select Sector 0.43% 10,416 $561K Reduce -14.1%
TRV The Travelers Cos Inc. 0.42% 2,000 $558K Reduce -7.4%
SPY SS SPDR S&P 500 ETF Trust-US 0.42% 821 $547K Reduce -19.4%
VBK Van Morst SML-Cap Gro-Usd Inc. 0.41% 1,801 $536K Add +14.3%
MDT Medtronic PLC 0.41% 5,600 $533K No change
VHT Vanguard Health Care ETF 0.39% 2,002 $520K Reduce -11.0%
AEP American Electric Power 0.39% 4,602 $518K Reduce -5.0%
T AT&T Inc. 0.39% 18,158 $513K No change
PEP Pepsico Inc. 0.39% 3,611 $507K Reduce -1.8%
BP BP PLC-Spons ADR 0.38% 14,604 $503K Reduce -2.3%
ENB Enbridge Inc. 0.38% 9,885 $499K No change
EXC Exelon Corp. 0.33% 9,576 $431K Reduce -0.8%
PAYX Paychex Inc. 0.32% 3,344 $424K No change
ELV Elevance Health Inc. 0.32% 1,303 $421K No change
WMT Walmart Inc. 0.32% 4,059 $418K Reduce -22.7%
PM Philip Morris International 0.32% 2,572 $417K No change
VB Vanguard Most SM-Cap ETF-Usd 0.31% 1,617 $411K No change
SPHD Invesco S&P 500 High Dividen 0.28% 7,547 $373K Reduce -28.9%
VOE Vngrd Mrngstr MD-Cap Val ETF 0.27% 2,037 $356K Add +10.9%
FISV Fiserv Inc. 0.27% 2,758 $356K No change
NOC Northrop Grumman Corp. 0.26% 570 $347K Reduce -6.6%
VWO Vanguard Ftse Emerging Marke 0.26% 6,399 $347K New
MFC Manulife Financial Corp. 0.26% 10,984 $342K No change
VBR Vngrd Mrngst SL-CP Val ETF-U 0.26% 1,626 $339K Reduce -24.6%
QCOM Qualcomm Inc. 0.25% 1,980 $329K No change
MAR Marriott International Class A 0.23% 1,184 $308K Reduce -13.9%
MO Altria Group Inc. 0.23% 4,642 $307K Reduce -1.6%
UPS United Parcel Service Class B 0.23% 3,570 $298K Add +0.3%
ADBE Adobe Inc. 0.23% 840 $296K No change
BNTX Biontech SE-ADR 0.22% 2,950 $291K Reduce -0.2%
PFE Pfizer Inc. 0.22% 11,412 $291K Reduce -5.1%
KWR Quaker Chemical Corporation 0.21% 2,065 $272K No change
LLY Eli Lilly & Co. 0.21% 355 $271K Reduce -10.1%
EMR Emerson Electric Co. 0.21% 2,060 $270K No change
VNQ Vanguard Real Estate ETF 0.20% 2,949 $270K New
VTI VG Morningstar TS MKT ETF-US 0.20% 811 $266K Add +15.5%
INTC Intel Corp. 0.20% 7,874 $264K New
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.19% 900 $254K No change
VRP Invesco Variable Rate Prefer 0.19% 10,135 $250K Reduce -4.3%
CVX Chevron Corp. 0.19% 1,609 $250K No change
DTM DT Midstream Inc. 0.19% 2,185 $247K No change
LIN Linde PLC 0.19% 517 $246K No change
AZN Astrazeneca PLC-Spons ADR 0.18% 3,098 $238K No change
LMT Lockheed Martin Corp. 0.17% 456 $228K No change
IWF iShares Russell 1000 Growth 0.17% 468 $219K New
CSX CSX Corp. 0.16% 6,072 $216K New
NSC Norfolk Southern Corp. 0.16% 711 $214K New
WEC WEC Energy Group Inc. 0.16% 1,843 $211K New
TIP iShares Tips Bond ETF 0.16% 1,856 $206K No change
LOW Lowe's Cos Inc. 0.16% 818 $206K New
MUA BlackRock Muniassets Fund 0.13% 15,536 $172K No change
BITF Bitfarms Ltd./Canada 0.03% 13,485 $38K No change

Portfolio Sells Q2 2025 → Q3 2025
TQQQ Proshares Ultrapro QQQ Reduce -32.8% 7.98% −1.93
GVI iShares Intermediate Governm Sold out 0.00% −0.67
SPGP Invesco S&P 500 Garp ETF Reduce -13.7% 2.56% −0.36
BND Vanguard Total Bond Market Reduce -37.8% 0.48% −0.32
WBA Walgreens Boots Alliance Inc. Sold out 0.00% −0.30
FDL First Trust Morn DVD Lead Inc. Reduce -29.4% 0.52% −0.22
AGG iShares Core U.S. Aggregate Reduce -22.4% 0.54% −0.18
NFLX Netflix Inc. Sold out 0.00% −0.16
VUG Vanguard Mrngstar GR ETF-Sui Reduce -8.0% 4.52% −0.15
PG The Procter & Gamble Co. Reduce -6.7% 0.95% −0.15
FVD First Trust Value Line DVD Reduce -6.7% 1.64% −0.13
KO The Coca-Cola Co. Reduce -4.8% 0.75% −0.12
SPHD Invesco S&P 500 High Dividen Reduce -28.9% 0.28% −0.12
WMT Walmart Inc. Reduce -22.7% 0.32% −0.09
SPY SS SPDR S&P 500 ETF Trust-US Reduce -19.4% 0.42% −0.08
XLF SS Financial Select Sector Reduce -14.1% 0.43% −0.07
VBR Vngrd Mrngst SL-CP Val ETF-U Reduce -24.6% 0.26% −0.07
VOT Vngrd Mrngstr MC GRW ETF-Usd Reduce -7.6% 0.79% −0.07
CWB SS SPDR BB Conv Sec ETF Reduce -6.3% 4.85% −0.06
MAR Marriott International Class A Reduce -13.9% 0.23% −0.06
VHT Vanguard Health Care ETF Reduce -11.0% 0.39% −0.05
VZ Verizon Communications Inc. Reduce -6.8% 0.44% −0.04
LLY Eli Lilly & Co. Reduce -10.1% 0.21% −0.04
XLI SS Industrial Select Sector Reduce -6.7% 0.56% −0.04
MCD McDonald's Corp. Reduce -3.7% 0.97% −0.04
TRV The Travelers Cos Inc. Reduce -7.4% 0.42% −0.03
META Meta Platforms Inc. Class A Reduce -0.6% 0.56% −0.03
BNTX Biontech SE-ADR Reduce -0.2% 0.22% −0.03
HD Home Depot Inc. Reduce -10.0% 0.54% −0.02
SO The Southern Co. Reduce -2.5% 0.48% −0.02
VRP Invesco Variable Rate Prefer Reduce -4.3% 0.19% −0.01
DUK Duke Energy Corp. Reduce -3.2% 0.57% −0.01
PFE Pfizer Inc. Reduce -5.1% 0.22% −0.01
MGV Vngrd Mrgstr MG CP VL ETF-Ui Reduce -1.5% 1.42% −0.01
EFA iShares MSCI Eafe ETF Reduce -1.7% 0.44% −0.01
IJH iShares Core S&P Midcap ETF Reduce -1.5% 1.43% −0.00
AEP American Electric Power Reduce -5.0% 0.39% −0.00
EXC Exelon Corp. Reduce -0.8% 0.33% −0.00
PEP Pepsico Inc. Reduce -1.8% 0.39% +0.00
NI Nisource Inc. Reduce -1.7% 0.90% +0.01
MO Altria Group Inc. Reduce -1.6% 0.23% +0.01
NOC Northrop Grumman Corp. Reduce -6.6% 0.26% +0.02
BP BP PLC-Spons ADR Reduce -2.3% 0.38% +0.03
WELL Welltower Inc. Reduce -5.9% 0.73% +0.03
VGT Vanguard Info Tech ETF Reduce -5.4% 1.64% +0.04
GLD SPDR Gold Shares Reduce -3.4% 0.65% +0.05
JPM JPMorgan Chase & Co. Reduce -0.4% 1.60% +0.07
ABBV Abbvie Inc. Reduce -0.8% 1.16% +0.19
JNJ Johnson & Johnson Reduce -2.1% 1.49% +0.19
FNWD Finward Bancorp Reduce -3.2% 3.34% +0.25

Portfolio Buys Q2 2025 → Q3 2025
SKOR NT Crdscr US Corp. BD ETF Add +65.8% 4.26% +1.61
VOO Vanguard S&P 500 ETF Add +4.4% 5.43% +0.41
VWO Vanguard Ftse Emerging Marke New 0.26% +0.26
MGK Vngrd Mrgstr MG CP GR ETF-Ui Add +7.3% 1.96% +0.23
VNQ Vanguard Real Estate ETF New 0.20% +0.20
INTC Intel Corp. New 0.20% +0.20
NVDA Nvidia Corp. Add +6.1% 1.18% +0.20
QQQ Invesco QQQ Trust Series 1 Add +0.9% 3.30% +0.18
IWF iShares Russell 1000 Growth New 0.17% +0.17
CSX CSX Corp. New 0.16% +0.16
NSC Norfolk Southern Corp. New 0.16% +0.16
WEC WEC Energy Group Inc. New 0.16% +0.16
LOW Lowe's Cos Inc. New 0.16% +0.16
XLK SS Technology Select Sector Add +4.2% 1.28% +0.13
GOOGL Alphabet Inc. Class A Add +4.9% 0.44% +0.12
VYM Vanguard High DVD Yield ETF Add +9.5% 1.10% +0.11
IJR iShares Core S&P Small-Cap E Add +9.9% 0.84% +0.11
VIG Vanguard Dividend Apprec ETF Add +3.9% 1.93% +0.10
VBK Van Morst SML-Cap Gro-Usd Inc. Add +14.3% 0.41% +0.06
VTV Vanguard Mrngstr Val ETF-Aui Add +10.7% 0.51% +0.06
VTI VG Morningstar TS MKT ETF-US Add +15.5% 0.20% +0.03
VOE Vngrd Mrngstr MD-Cap Val ETF Add +10.9% 0.27% +0.03
MSFT Microsoft Corp. Add +0.1% 6.86% +0.02
VIGI Vanguard Int Div App Indx FD Add +5.2% 0.98% +0.01
BRK.B Berkshire Hathaway Inc. Class B Add +1.0% 0.47% +0.00
NOBL Proshares S&P 500 Dividend A Add +0.1% 1.51% −0.02
AMZN Amazon.com Inc. Add +1.1% 0.89% −0.02
V Visa Inc. Class A Add +1.9% 0.68% −0.04
UPS United Parcel Service Class B Add +0.3% 0.23% −0.06

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