German American Bancorp, Inc.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), German American Bancorp, Inc. reported 122 stock positions worth $930.2 million. Its top holding was iShares Intermediate Governm (GVI) at 9.5% of the portfolio, followed by iShares MSCI Acwi Ex US ETF (ACWX, 9.4%) and iShares Russell Mid-Cap ETF (IWR, 8.6%). Compared with Q4 2024, it opened 3 new positions, sold out of 4, added to 53 and reduced 44. The biggest buy was iShares MSCI Acwi Ex US ETF (ACWX, shares +1%) and the biggest sale Alphabet Class A (GOOGL, shares −11%).

Most Recent 13F
Q2 2026
Location
JASPER, IN
CIK
0000714395
Portfolio Value
$930.2M (Q1 2025)
SEC Filing
0000714395-25-000023 ↗ filed May 13, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $831.7M Q1 2024 Q2 2024: $870.7M Q2 2024 Q3 2024: $944.8M Q3 2024 Q4 2024: $955.0M Q4 2024 Q1 2025: $930.2M $930.2M Q1 2025 Q2 2025: $1.0B Q2 2025 Q3 2025: $1.1B Q3 2025 Q4 2025: $1.2B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.3B Q2 2026

Holdings 122 stocks · $930.2M
GVI iShares Intermediate Governm 9.47% 830,788 $88.1M Add +2.4%
ACWX iShares MSCI Acwi Ex US ETF 9.40% 1,576,511 $87.4M Add +1.4%
IWR iShares Russell Mid-Cap ETF 8.61% 941,973 $80.1M Add +1.3%
IWM iShares Russell 2000 ETF 4.59% 214,193 $42.7M Add +2.0%
AAPL Apple Inc. 4.45% 186,557 $41.4M Add +0.0%
MSFT Microsoft Corp. 4.31% 106,702 $40.1M Add +2.1%
IVV iShares Core S&P 500 ETF 3.34% 55,295 $31.1M Add +0.9%
NVDA Nvidia Corp. 3.07% 263,777 $28.6M Add +1.0%
GOOGL Alphabet Inc. Class A 3.02% 181,376 $28.0M Reduce -11.2%
AMZN Amazon.com Inc. 2.99% 146,099 $27.8M Add +21.3%
SPY SS SPDR S&P 500 ETF Trust-US 2.79% 46,370 $25.9M Add +0.1%
META Meta Platforms Inc. Class A 2.38% 38,377 $22.1M Add +2.2%
GABC German American Bancorp 2.16% 535,717 $20.1M Add +9.1%
MA Mastercard Inc. Class A 2.13% 36,206 $19.8M Add +1.0%
JPM JPMorgan Chase & Co. 1.93% 73,152 $17.9M Reduce -16.9%
UNH Unitedhealth Group Inc. 1.42% 25,249 $13.2M Reduce -9.4%
COST Costco Wholesale Corp. 1.41% 13,900 $13.1M Add +0.5%
XLU St Sr Utl SL SE SPDR ETF-Usd 1.33% 157,083 $12.4M Add +0.8%
ORCL Oracle Corp. 1.33% 88,513 $12.4M Reduce -14.7%
PG The Procter & Gamble Co. 1.25% 68,229 $11.6M Add +0.3%
ABT Abbott Laboratories 1.23% 85,941 $11.4M Add +0.6%
CAT Caterpillar Inc. 1.19% 33,692 $11.1M Add +0.9%
BLK BlackRock Inc. 1.13% 11,154 $10.6M Add +0.8%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.12% 249,645 $10.4M Add +2.1%
XOM Exxon Mobil Corp. 1.04% 81,013 $9.6M Add +1.4%
MS Morgan Stanley 0.99% 79,233 $9.2M Add +0.8%
KO The Coca-Cola Co. 0.97% 126,006 $9.0M Add +0.9%
MUB iShares National Muni Bond E 0.94% 82,824 $8.7M Reduce -20.4%
MU Micron Technology Inc. 0.92% 98,494 $8.6M Add +1.3%
AVGO Broadcom Inc. 0.90% 49,797 $8.3M Add +931.2%
LLY Eli Lilly & Co. 0.87% 9,808 $8.1M Add +36.4%
JNJ Johnson & Johnson 0.85% 47,776 $7.9M Add +4.5%
XLP SS Consumer Staples Sel Sect 0.76% 87,078 $7.1M Add +1.0%
CSCO Cisco Systems Inc. 0.72% 109,141 $6.7M Add +0.4%
HON Honeywell International Inc. 0.72% 31,686 $6.7M Add +0.6%
FDX FedEx Corp. 0.71% 27,046 $6.6M Add +2.4%
GM General Motors Co. 0.65% 128,728 $6.1M Add +1.5%
MTB M & T Bank Corp. filed as M & T BK CORP 0.64% 33,297 $6.0M New
ABBV Abbvie Inc. 0.62% 27,683 $5.8M Reduce 0.0%
COP Conocophillips 0.62% 54,679 $5.7M Add +1.7%
XLY SS Consumer Disc Select Sect 0.59% 27,603 $5.5M Reduce -47.2%
TMO Thermo Fisher Scientific Inc. 0.56% 10,414 $5.2M Add +9.5%
SNPS Synopsys Inc. 0.48% 10,360 $4.4M Add +16.1%
NKE Nike Inc. Class B 0.45% 65,465 $4.2M Add +12.5%
RTX RTX Corp. 0.43% 30,336 $4.0M Add +1.5%
BA The Boeing Co. 0.43% 23,480 $4.0M Add +11.8%
XLB SS Materials Select Sector 0.42% 45,536 $3.9M Add +1.8%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.42% 39,464 $3.9M Add +2.3%
DHR Danaher Corp. 0.41% 18,441 $3.8M Add +4.7%
LEN Lennar Corp. Class A 0.40% 32,777 $3.8M Add +0.9%
PSX Phillips 66 0.38% 28,701 $3.5M Add +1.6%
ZTS Zoetis Inc. 0.38% 21,456 $3.5M Add +0.6%
PFE Pfizer Inc. 0.36% 132,229 $3.4M Add +23.8%
SUB iShares Short-Term National 0.35% 30,613 $3.2M Add +3.4%
VCIT Vanguard Int-Term Corporate 0.34% 38,512 $3.1M Reduce -11.5%
VYM Vanguard High DVD Yield ETF 0.33% 23,821 $3.1M Reduce -1.2%
QQQ Invesco QQQ Trust Series 1 0.29% 5,830 $2.7M Add +56.3%
V Visa Inc. Class A 0.23% 6,194 $2.2M Reduce -1.4%
XLC SS Comm Select Sector SPDR 0.20% 19,114 $1.8M Reduce -8.7%
XLK SS Technology Select Sector 0.18% 7,989 $1.6M Reduce -30.5%
IWD iShares Russell 1000 Value E 0.13% 6,513 $1.2M Reduce -53.3%
SPDW Ste STR SPDR PT DW Eu ETF 0.12% 31,453 $1.1M No change
XLF SS Financial Select Sector 0.12% 22,991 $1.1M Reduce -8.0%
HD Home Depot Inc. 0.12% 3,085 $1.1M Reduce -5.2%
EFA iShares MSCI Eafe ETF 0.12% 13,626 $1.1M No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.11% 3,921 $1.0M Reduce -15.0%
KRE SS SPDR S&P Regional Bank 0.11% 17,200 $978K New
BRK.B Berkshire Hathaway Inc. Class B 0.09% 1,577 $840K Add +45.8%
DE Deere & Co. 0.08% 1,644 $772K Add +0.2%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.08% 6,067 $739K Reduce -1.6%
XLV SS Health Care Select Sector 0.08% 4,981 $727K Reduce -64.7%
SPTM SS SPDR P S&P 1500 Comp ETF 0.08% 10,525 $716K No change
ITOT iShares Core S&P Total U.S. 0.08% 5,780 $705K No change
VUG Vanguard Mrngstar GR ETF-Sui 0.07% 1,838 $682K No change
MDY State Street SPDR S&P Midcap 0.07% 1,242 $663K No change
GOLDMAN SACHS GROUP INC 0.07% 1,195 $653K No change
ADBE Adobe Inc. 0.07% 1,611 $618K Reduce -1.9%
ADP Automatic Data Processing 0.06% 1,940 $593K Reduce -0.1%
AMGN Amgen Inc. 0.06% 1,769 $551K Reduce -2.9%
CRH CRH PLC 0.06% 6,162 $542K Add +0.2%
IUSV iShares Core S&P U.S. Value 0.06% 5,868 $542K Add +10.0%
PM Philip Morris International 0.06% 3,381 $537K Reduce -8.2%
VB Vanguard Most SM-Cap ETF-Usd 0.06% 2,363 $524K Reduce -17.1%
VTV Vanguard Mrngstr Val ETF-Aui 0.06% 2,979 $515K Reduce -6.3%
MCD McDonald's Corp. 0.06% 1,647 $514K Add +0.1%
TXN Texas Instruments Inc. 0.06% 2,860 $514K Add +0.7%
WMT Walmart Inc. 0.06% 5,851 $514K No change
VXUS Vanguard Total Intl Stock 0.05% 8,197 $509K Reduce -13.3%
GLD SPDR Gold Shares 0.05% 1,697 $489K No change
XLE SS Energy Select Sector 0.05% 5,224 $488K Reduce -81.2%
SPIB SS SPDR P Int C Corp. ETF 0.05% 14,068 $468K Reduce -39.9%
CHD Church & Dwight Co. Inc. 0.05% 4,136 $455K No change
IWF iShares Russell 1000 Growth 0.05% 1,235 $446K No change
BSV Vanguard Short-Term Bond ETF 0.05% 5,623 $440K No change
AGG iShares Core U.S. Aggregate 0.05% 4,339 $429K Reduce -4.5%
CVX Chevron Corp. 0.05% 2,520 $422K Reduce -14.2%
NEE Nextera Energy Inc. 0.05% 5,926 $420K Reduce -12.5%
AGGM iShares 1-10 Year U.S. Aggre 0.04% 3,937 $410K No change
MMM 3M Co. 0.04% 2,716 $399K Reduce -10.3%
TT Trane Technologies PLC 0.04% 1,100 $371K No change
XLI SS Industrial Select Sector 0.04% 2,799 $367K Reduce -42.5%
VZ Verizon Communications Inc. 0.04% 8,053 $365K No change
PEP Pepsico Inc. 0.04% 2,285 $343K Reduce -33.4%
SYK Stryker Corp. 0.03% 744 $277K Reduce -1.3%
MRSH Marsh & McLennan Cos 0.03% 1,123 $274K Reduce -11.8%
PNC PNC Financial Services Group 0.03% 1,523 $268K No change
QCOM Qualcomm Inc. 0.03% 1,731 $266K No change
SPEM State Street SP PTF Em ETF 0.03% 6,711 $264K No change
FTC First Trust Large Cap Growth 0.03% 2,000 $263K No change
ALL Allstate Corp. 0.03% 1,185 $245K No change
USB US Bancorp 0.03% 5,768 $244K No change
SYBT Stock Yards Bancorp Inc. 0.03% 3,475 $240K Reduce -6.7%
WM Waste Management Inc. 0.03% 1,010 $234K Reduce -8.3%
MO Altria Group Inc. 0.02% 3,832 $230K Reduce -3.5%
LIN Linde PLC 0.02% 487 $227K Reduce -12.3%
AEP American Electric Power 0.02% 2,064 $226K Reduce -28.1%
MDYV SS SPDR S&P 400 MC Val ETF 0.02% 2,823 $218K No change
AXP American Express Co. 0.02% 808 $217K Reduce -8.4%
VNQ Vanguard Real Estate ETF 0.02% 2,364 $214K Reduce -18.9%
ACN Accenture PLC Class A 0.02% 660 $206K Reduce -27.5%
ORLY O'reilly Automotive Inc. 0.02% 142 $203K New
MSI Motorola Solutions Inc. 0.02% 460 $201K Reduce -14.2%

Portfolio Sells Q4 2024 → Q1 2025
GOOGL Alphabet Inc. Class A Reduce -11.2% 3.02% −1.03
XLY SS Consumer Disc Select Sect Reduce -47.2% 0.59% −0.64
ORCL Oracle Corp. Reduce -14.7% 1.33% −0.48
JPM JPMorgan Chase & Co. Reduce -16.9% 1.93% −0.28
MUB iShares National Muni Bond E Reduce -20.4% 0.94% −0.22
XLE SS Energy Select Sector Reduce -81.2% 0.05% −0.20
IWD iShares Russell 1000 Value E Reduce -53.3% 0.13% −0.14
XLV SS Health Care Select Sector Reduce -64.7% 0.08% −0.13
XLK SS Technology Select Sector Reduce -30.5% 0.18% −0.10
UNH Unitedhealth Group Inc. Reduce -9.4% 1.42% −0.05
SPIB SS SPDR P Int C Corp. ETF Reduce -39.9% 0.05% −0.03
IWS iShares Russell Mid-Cap Valu Sold out 0.00% −0.03
XLI SS Industrial Select Sector Reduce -42.5% 0.04% −0.03
VCIT Vanguard Int-Term Corporate Reduce -11.5% 0.34% −0.03
IWN iShares Russell 2000 Value E Sold out 0.00% −0.03
STZ Constellation Brands Inc. Class A Sold out 0.00% −0.03
MGK Vngrd Mrgstr MG CP GR ETF-Ui Sold out 0.00% −0.02
VO Vngrd Mrngstr MD-Cap ETF-Usd Reduce -15.0% 0.11% −0.02
PEP Pepsico Inc. Reduce -33.4% 0.04% −0.02
VB Vanguard Most SM-Cap ETF-Usd Reduce -17.1% 0.06% −0.02
XLC SS Comm Select Sector SPDR Reduce -8.7% 0.20% −0.01
ACN Accenture PLC Class A Reduce -27.5% 0.02% −0.01
HD Home Depot Inc. Reduce -5.2% 0.12% −0.01
ADBE Adobe Inc. Reduce -1.9% 0.07% −0.01
NEE Nextera Energy Inc. Reduce -12.5% 0.05% −0.01
MSI Motorola Solutions Inc. Reduce -14.2% 0.02% −0.00
VNQ Vanguard Real Estate ETF Reduce -18.9% 0.02% −0.00
AXP American Express Co. Reduce -8.4% 0.02% −0.00
VXUS Vanguard Total Intl Stock Reduce -13.3% 0.05% −0.00
AEP American Electric Power Reduce -28.1% 0.02% −0.00
XLF SS Financial Select Sector Reduce -8.0% 0.12% −0.00
SYBT Stock Yards Bancorp Inc. Reduce -6.7% 0.03% −0.00
VTV Vanguard Mrngstr Val ETF-Aui Reduce -6.3% 0.06% −0.00
LIN Linde PLC Reduce -12.3% 0.02% 0.00
AGG iShares Core U.S. Aggregate Reduce -4.5% 0.05% +0.00
CVX Chevron Corp. Reduce -14.2% 0.05% +0.00
MRSH Marsh & McLennan Cos Reduce -11.8% 0.03% +0.00
SYK Stryker Corp. Reduce -1.3% 0.03% +0.00
TJX TJX Companies Inc. Reduce -1.6% 0.08% +0.00
MMM 3M Co. Reduce -10.3% 0.04% +0.00
WM Waste Management Inc. Reduce -8.3% 0.03% +0.00
MO Altria Group Inc. Reduce -3.5% 0.02% +0.00
ADP Automatic Data Processing Reduce -0.1% 0.06% +0.00
VYM Vanguard High DVD Yield ETF Reduce -1.2% 0.33% +0.01
AMGN Amgen Inc. Reduce -2.9% 0.06% +0.01
PM Philip Morris International Reduce -8.2% 0.06% +0.01
V Visa Inc. Class A Reduce -1.4% 0.23% +0.03
ABBV Abbvie Inc. Reduce 0.0% 0.62% +0.11

Portfolio Buys Q4 2024 → Q1 2025
ACWX iShares MSCI Acwi Ex US ETF Add +1.4% 9.40% +0.90
AVGO Broadcom Inc. Add +931.2% 0.90% +0.78
MTB M & T Bank Corp. New 0.64% +0.64
GVI iShares Intermediate Governm Add +2.4% 9.47% +0.61
LLY Eli Lilly & Co. Add +36.4% 0.87% +0.29
AMZN Amazon.com Inc. Add +21.3% 2.99% +0.22
ABT Abbott Laboratories Add +0.6% 1.23% +0.21
JNJ Johnson & Johnson Add +4.5% 0.85% +0.16
MA Mastercard Inc. Class A Add +1.0% 2.13% +0.16
KO The Coca-Cola Co. Add +0.9% 0.97% +0.16
XOM Exxon Mobil Corp. Add +1.4% 1.04% +0.14
KRE SS SPDR S&P Regional Bank New 0.11% +0.11
XLU St Sr Utl SL SE SPDR ETF-Usd Add +0.8% 1.33% +0.10
QQQ Invesco QQQ Trust Series 1 Add +56.3% 0.29% +0.09
GABC German American Bancorp Add +9.1% 2.16% +0.09
COST Costco Wholesale Corp. Add +0.5% 1.41% +0.09
META Meta Platforms Inc. Class A Add +2.2% 2.38% +0.07
RTX RTX Corp. Add +1.5% 0.43% +0.07
PFE Pfizer Inc. Add +23.8% 0.36% +0.06
MU Micron Technology Inc. Add +1.3% 0.92% +0.06
COP Conocophillips Add +1.7% 0.62% +0.06
PG The Procter & Gamble Co. Add +0.3% 1.25% +0.06
XLP SS Consumer Staples Sel Sect Add +1.0% 0.76% +0.05
CSCO Cisco Systems Inc. Add +0.4% 0.72% +0.05
PSX Phillips 66 Add +1.6% 0.38% +0.04
BA The Boeing Co. Add +11.8% 0.43% +0.04
TMO Thermo Fisher Scientific Inc. Add +9.5% 0.56% +0.04
BRK.B Berkshire Hathaway Inc. Class B Add +45.8% 0.09% +0.04
XLB SS Materials Select Sector Add +1.8% 0.42% +0.03
SNPS Synopsys Inc. Add +16.1% 0.48% +0.02
ORLY O'reilly Automotive Inc. New 0.02% +0.02
SUB iShares Short-Term National Add +3.4% 0.35% +0.02
ZTS Zoetis Inc. Add +0.6% 0.38% +0.02
DE Deere & Co. Add +0.2% 0.08% +0.01
IWR iShares Russell Mid-Cap ETF Add +1.3% 8.61% +0.01
IUSV iShares Core S&P U.S. Value Add +10.0% 0.06% +0.01
MCD McDonald's Corp. Add +0.1% 0.06% +0.01
TXN Texas Instruments Inc. Add +0.7% 0.06% −0.00
CRH CRH PLC Add +0.2% 0.06% −0.00
BAC Bank of America Corp. Add +2.1% 1.12% −0.00
NKE Nike Inc. Class B Add +12.5% 0.45% −0.01
DHR Danaher Corp. Add +4.7% 0.41% −0.02
HON Honeywell International Inc. Add +0.6% 0.72% −0.02
DIS The Walt Disney Co. Add +2.3% 0.42% −0.03
IVV iShares Core S&P 500 ETF Add +0.9% 3.34% −0.04
MS Morgan Stanley Add +0.8% 0.99% −0.04
BLK BlackRock Inc. Add +0.8% 1.13% −0.05
SPY SS SPDR S&P 500 ETF Trust-US Add +0.1% 2.79% −0.05
GM General Motors Co. Add +1.5% 0.65% −0.06
LEN Lennar Corp. Class A Add +0.9% 0.40% −0.06

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 156$1.3BACWX, IWR, GVI, IWM, MU
Q1 2026 148$1.2BACWX, GVI, IWR, IWM, GOOGL
Q4 2025 125$1.2BACWX, IWR, GVI, GOOGL, IWM
Q3 2025 125$1.1BACWX, IWR, GVI, MSFT, IWM
Q2 2025 128$1.0BACWX, GVI, IWR, MSFT, IWM
Q1 2025 122$930.2MGVI, ACWX, IWR, IWM, AAPL
Q4 2024 123$955.0MGVI, IWR, ACWX, AAPL, IWM
Q3 2024 128$944.8MACWX, GVI, IWR, IWM, MSFT
Q2 2024 126$870.7MGVI, ACWX, IWR, MSFT, IWM
Q1 2024 119$831.7MACWX, GVI, IWR, SPY, MSFT