German American Bancorp, Inc.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), German American Bancorp, Inc. reported 128 stock positions worth $1.0 billion. Its top holding was iShares MSCI Acwi Ex US ETF (ACWX) at 9.3% of the portfolio, followed by iShares Intermediate Governm (GVI, 8.7%) and iShares Russell Mid-Cap ETF (IWR, 8.4%). Compared with Q1 2025, it opened 9 new positions, sold out of 3, added to 27 and reduced 74. The biggest buy was Nvidia (NVDA, shares +2%) and the biggest sale Unitedhealth (UNH, shares −1%).

Most Recent 13F
Q2 2026
Location
JASPER, IN
CIK
0000714395
Portfolio Value
$1.0B (Q2 2025)
SEC Filing
0001628280-25-040315 ↗ filed Aug 14, 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 Q1 2025 Q2 2025: $1.0B $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 128 stocks · $1.0B
ACWX iShares MSCI Acwi Ex US ETF 9.34% 1,569,754 $95.7M Reduce -0.4%
GVI iShares Intermediate Governm 8.69% 833,504 $89.0M Add +0.3%
IWR iShares Russell Mid-Cap ETF 8.43% 938,960 $86.4M Reduce -0.3%
MSFT Microsoft Corp. 5.15% 106,100 $52.8M Reduce -0.6%
IWM iShares Russell 2000 ETF 4.49% 213,039 $46.0M Reduce -0.5%
NVDA Nvidia Corp. 4.17% 270,083 $42.7M Add +2.4%
AAPL Apple Inc. 3.74% 186,870 $38.3M Add +0.2%
IVV iShares Core S&P 500 ETF 3.41% 56,311 $35.0M Add +1.8%
AMZN Amazon.com Inc. 3.14% 146,567 $32.2M Add +0.3%
GOOGL Alphabet Inc. Class A 3.11% 180,492 $31.8M Reduce -0.5%
SPY SS SPDR S&P 500 ETF Trust-US 2.77% 45,826 $28.3M Reduce -1.2%
META Meta Platforms Inc. Class A 2.76% 38,294 $28.3M Reduce -0.2%
GABC German American Bancorp 2.22% 590,221 $22.7M Add +10.2%
JPM JPMorgan Chase & Co. 2.06% 72,687 $21.1M Reduce -0.6%
MA Mastercard Inc. Class A 1.98% 36,148 $20.3M Reduce -0.2%
ORCL Oracle Corp. 1.88% 87,944 $19.2M Reduce -0.6%
AVGO Broadcom Inc. 1.39% 51,511 $14.2M Add +3.4%
COST Costco Wholesale Corp. 1.33% 13,798 $13.7M Reduce -0.7%
MUB iShares National Muni Bond E 1.25% 122,736 $12.8M Add +48.2%
XLU St Sr Utl SL SE SPDR ETF-Usd 1.25% 156,424 $12.8M Reduce -0.4%
MU Micron Technology Inc. 1.18% 98,441 $12.1M Reduce -0.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.15% 248,659 $11.8M Reduce -0.4%
ABT Abbott Laboratories 1.14% 85,484 $11.6M Reduce -0.5%
BLK BlackRock Inc. 1.14% 11,078 $11.6M Reduce -0.7%
MS Morgan Stanley 1.09% 79,181 $11.2M Reduce -0.1%
PG The Procter & Gamble Co. 1.06% 67,816 $10.8M Reduce -0.6%
LLY Eli Lilly & Co. 1.05% 13,731 $10.7M Add +40.0%
RTX RTX Corp. 0.90% 62,883 $9.2M Add +107.3%
KO The Coca-Cola Co. 0.87% 125,630 $8.9M Reduce -0.3%
XOM Exxon Mobil Corp. 0.85% 80,796 $8.7M Reduce -0.3%
CAT Caterpillar Inc. 0.84% 22,289 $8.7M Reduce -33.8%
UNH Unitedhealth Group Inc. 0.76% 24,900 $7.8M Reduce -1.4%
CSCO Cisco Systems Inc. 0.74% 109,484 $7.6M Add +0.3%
HON Honeywell International Inc. 0.72% 31,525 $7.3M Reduce -0.5%
JNJ Johnson & Johnson 0.70% 47,176 $7.2M Reduce -1.3%
XLP SS Consumer Staples Sel Sect 0.68% 85,376 $6.9M Reduce -1.9%
MTB M & T Bank Corp. filed as M & T BK CORP 0.64% 33,688 $6.5M Add +1.2%
GM General Motors Co. 0.61% 127,916 $6.3M Reduce -0.6%
FDX FedEx Corp. 0.59% 26,469 $6.0M Reduce -2.1%
XLY SS Consumer Disc Select Sect 0.58% 27,493 $6.0M Reduce -0.4%
SNPS Synopsys Inc. 0.51% 10,194 $5.2M Reduce -1.6%
ABBV Abbvie Inc. 0.51% 27,914 $5.2M Add +0.8%
BA The Boeing Co. 0.48% 23,432 $4.9M Reduce -0.2%
COP Conocophillips 0.47% 53,894 $4.8M Reduce -1.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.47% 38,832 $4.8M Reduce -1.6%
NKE Nike Inc. Class B 0.45% 64,897 $4.6M Reduce -0.9%
TMO Thermo Fisher Scientific Inc. 0.40% 10,175 $4.1M Reduce -2.3%
LEN Lennar Corp. Class A 0.35% 32,596 $3.6M Reduce -0.6%
DHR Danaher Corp. 0.35% 18,205 $3.6M Reduce -1.3%
ZTS Zoetis Inc. 0.32% 21,325 $3.3M Reduce -0.6%
PSX Phillips 66 0.32% 27,852 $3.3M Reduce -3.0%
SUB iShares Short-Term National 0.32% 31,013 $3.3M Add +1.3%
VCIT Vanguard Int-Term Corporate 0.31% 38,545 $3.2M Add +0.1%
VYM Vanguard High DVD Yield ETF 0.31% 23,821 $3.2M No change
PFE Pfizer Inc. 0.31% 130,091 $3.2M Reduce -1.6%
V Visa Inc. Class A 0.21% 6,133 $2.2M Reduce -1.0%
XLC SS Comm Select Sector SPDR 0.20% 19,009 $2.1M Reduce -0.6%
QQQ Invesco QQQ Trust Series 1 0.20% 3,735 $2.1M Reduce -35.9%
XLK SS Technology Select Sector 0.19% 7,797 $2.0M Reduce -2.4%
KRE SS SPDR S&P Regional Bank 0.15% 26,585 $1.6M Add +54.6%
SPDW Ste STR SPDR PT DW Eu ETF 0.12% 31,453 $1.3M No change
IWD iShares Russell 1000 Value E 0.11% 6,024 $1.2M Reduce -7.5%
HD Home Depot Inc. 0.11% 3,065 $1.1M Reduce -0.7%
XLF SS Financial Select Sector 0.11% 21,438 $1.1M Reduce -6.8%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.11% 3,891 $1.1M Reduce -0.8%
EFA iShares MSCI Eafe ETF 0.10% 11,599 $1.0M Reduce -14.9%
DE Deere & Co. 0.10% 2,021 $1.0M Add +22.9%
XLB SS Materials Select Sector 0.08% 9,815 $862K Reduce -78.5%
GOLDMAN SACHS GROUP INC 0.08% 1,195 $846K No change
VUG Vanguard Mrngstar GR ETF-Sui 0.08% 1,838 $806K No change
SPTM SS SPDR P S&P 1500 Comp ETF 0.08% 10,525 $788K No change
ITOT iShares Core S&P Total U.S. 0.08% 5,780 $781K No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.07% 5,967 $737K Reduce -1.6%
MDY State Street SPDR S&P Midcap 0.07% 1,242 $704K No change
ADP Automatic Data Processing 0.06% 2,117 $653K Add +9.1%
XLV SS Health Care Select Sector 0.06% 4,712 $635K Reduce -5.4%
ADBE Adobe Inc. 0.06% 1,602 $620K Reduce -0.6%
PM Philip Morris International 0.06% 3,381 $616K No change
WMT Walmart Inc. 0.06% 6,284 $614K Add +7.4%
TXN Texas Instruments Inc. 0.06% 2,823 $586K Reduce -1.3%
MCD McDonald's Corp. 0.06% 1,934 $565K Add +17.4%
CRH CRH PLC 0.06% 6,152 $565K Reduce -0.2%
VXUS Vanguard Total Intl Stock 0.05% 8,058 $557K Reduce -1.7%
VB Vanguard Most SM-Cap ETF-Usd 0.05% 2,346 $556K Reduce -0.7%
IUSV iShares Core S&P U.S. Value 0.05% 5,792 $548K Reduce -1.3%
VTV Vanguard Mrngstr Val ETF-Aui 0.05% 2,979 $527K No change
IWF iShares Russell 1000 Growth 0.05% 1,235 $524K No change
BRK.B Berkshire Hathaway Inc. Class B 0.05% 1,075 $522K Reduce -31.8%
GLD SPDR Gold Shares 0.05% 1,697 $517K No change
AMGN Amgen Inc. 0.05% 1,829 $511K Add +3.4%
TT Trane Technologies PLC 0.05% 1,100 $481K No change
NEE Nextera Energy Inc. 0.04% 6,506 $452K Add +9.8%
BSV Vanguard Short-Term Bond ETF 0.04% 5,623 $443K No change
SPIB SS SPDR P Int C Corp. ETF 0.04% 12,634 $424K Reduce -10.2%
AGGM iShares 1-10 Year U.S. Aggre 0.04% 3,937 $411K No change
XLE SS Energy Select Sector 0.04% 4,749 $403K Reduce -9.1%
CHD Church & Dwight Co. Inc. 0.04% 4,126 $397K Reduce -0.2%
AGG iShares Core U.S. Aggregate 0.04% 3,981 $395K Reduce -8.3%
CVX Chevron Corp. 0.04% 2,666 $382K Add +5.8%
XLI SS Industrial Select Sector 0.04% 2,435 $359K Reduce -13.0%
VZ Verizon Communications Inc. 0.03% 8,016 $347K Reduce -0.5%
MMM 3M Co. 0.03% 2,216 $337K Reduce -18.4%
PEP Pepsico Inc. 0.03% 2,480 $327K Add +8.5%
DUK Duke Energy Corp. 0.03% 2,709 $320K New
FTC First Trust Large Cap Growth 0.03% 2,000 $302K No change
ASTS Ast Spacemobile Inc. 0.03% 6,269 $293K New
SPEM State Street SP PTF Em ETF 0.03% 6,711 $287K No change
AXP American Express Co. 0.03% 881 $281K Add +9.0%
PNC PNC Financial Services Group 0.03% 1,500 $280K Reduce -1.5%
QCOM Qualcomm Inc. 0.03% 1,719 $274K Reduce -0.7%
SYK Stryker Corp. 0.03% 685 $271K Reduce -7.9%
XPMAX Pioneer Municipal High Inc. 0.03% 32,610 $271K New
VOOV Vanguard S&P 500 Value ETF 0.03% 1,400 $264K New
TSLA Tesla Inc. 0.02% 802 $255K New
USB US Bancorp 0.02% 5,400 $244K Reduce -6.4%
AEP American Electric Power 0.02% 2,301 $239K Add +11.5%
ALL Allstate Corp. 0.02% 1,185 $239K No change
MGK Vngrd Mrgstr MG CP GR ETF-Ui 0.02% 642 $235K New
MRSH Marsh & McLennan Cos 0.02% 1,073 $235K Reduce -4.5%
MO Altria Group Inc. 0.02% 3,894 $228K Add +1.6%
WM Waste Management Inc. 0.02% 982 $225K Reduce -2.8%
LIN Linde PLC 0.02% 474 $222K Reduce -2.7%
SYBT Stock Yards Bancorp Inc. 0.02% 2,752 $217K Reduce -20.8%
VNQ Vanguard Real Estate ETF 0.02% 2,364 $211K No change
MDYV SS SPDR S&P 400 MC Val ETF 0.02% 2,567 $204K Reduce -9.1%
KMB Kimberly-Clark Corp. 0.02% 1,575 $203K New
NVG Nuveen Amt-FR Muni CRDT 0.02% 14,933 $178K New
XNEAX Nuveen Amt-FR QLTY Muni Inc. 0.01% 10,604 $116K New

Portfolio Sells Q1 2025 → Q2 2025
UNH Unitedhealth Group Inc. Reduce -1.4% 0.76% −0.66
CAT Caterpillar Inc. Reduce -33.8% 0.84% −0.35
XLB SS Materials Select Sector Reduce -78.5% 0.08% −0.34
PG The Procter & Gamble Co. Reduce -0.6% 1.06% −0.19
XOM Exxon Mobil Corp. Reduce -0.3% 0.85% −0.19
IWR iShares Russell Mid-Cap ETF Reduce -0.3% 8.43% −0.18
TMO Thermo Fisher Scientific Inc. Reduce -2.3% 0.40% −0.15
MA Mastercard Inc. Class A Reduce -0.2% 1.98% −0.15
JNJ Johnson & Johnson Reduce -1.3% 0.70% −0.15
COP Conocophillips Reduce -1.4% 0.47% −0.14
FDX FedEx Corp. Reduce -2.1% 0.59% −0.12
IWM iShares Russell 2000 ETF Reduce -0.5% 4.49% −0.10
KO The Coca-Cola Co. Reduce -0.3% 0.87% −0.10
QQQ Invesco QQQ Trust Series 1 Reduce -35.9% 0.20% −0.09
ABT Abbott Laboratories Reduce -0.5% 1.14% −0.09
XLP SS Consumer Staples Sel Sect Reduce -1.9% 0.68% −0.09
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -0.4% 1.25% −0.08
COST Costco Wholesale Corp. Reduce -0.7% 1.33% −0.08
PSX Phillips 66 Reduce -3.0% 0.32% −0.06
DHR Danaher Corp. Reduce -1.3% 0.35% −0.06
ACWX iShares MSCI Acwi Ex US ETF Reduce -0.4% 9.34% −0.06
ZTS Zoetis Inc. Reduce -0.6% 0.32% −0.06
LEN Lennar Corp. Class A Reduce -0.6% 0.35% −0.05
PFE Pfizer Inc. Reduce -1.6% 0.31% −0.05
BRK.B Berkshire Hathaway Inc. Class B Reduce -31.8% 0.05% −0.04
GM General Motors Co. Reduce -0.6% 0.61% −0.04
SPY SS SPDR S&P 500 ETF Trust-US Reduce -1.2% 2.77% −0.02
ACN Accenture PLC Class A Sold out 0.00% −0.02
ORLY O'reilly Automotive Inc. Sold out 0.00% −0.02
MSI Motorola Solutions Inc. Sold out 0.00% −0.02
V Visa Inc. Class A Reduce -1.0% 0.21% −0.02
EFA iShares MSCI Eafe ETF Reduce -14.9% 0.10% −0.02
IWD iShares Russell 1000 Value E Reduce -7.5% 0.11% −0.02
XLV SS Health Care Select Sector Reduce -5.4% 0.06% −0.02
XLF SS Financial Select Sector Reduce -6.8% 0.11% −0.01
XLE SS Energy Select Sector Reduce -9.1% 0.04% −0.01
HD Home Depot Inc. Reduce -0.7% 0.11% −0.01
CHD Church & Dwight Co. Inc. Reduce -0.2% 0.04% −0.01
MMM 3M Co. Reduce -18.4% 0.03% −0.01
SPIB SS SPDR P Int C Corp. ETF Reduce -10.2% 0.04% −0.01
AGG iShares Core U.S. Aggregate Reduce -8.3% 0.04% −0.01
TJX TJX Companies Inc. Reduce -1.6% 0.07% −0.01
MRSH Marsh & McLennan Cos Reduce -4.5% 0.02% −0.01
ADBE Adobe Inc. Reduce -0.6% 0.06% −0.01
VZ Verizon Communications Inc. Reduce -0.5% 0.03% −0.01
IUSV iShares Core S&P U.S. Value Reduce -1.3% 0.05% −0.00
SYBT Stock Yards Bancorp Inc. Reduce -20.8% 0.02% −0.00
XLI SS Industrial Select Sector Reduce -13.0% 0.04% −0.00
HON Honeywell International Inc. Reduce -0.5% 0.72% −0.00
MDYV SS SPDR S&P 400 MC Val ETF Reduce -9.1% 0.02% −0.00

Portfolio Buys Q1 2025 → Q2 2025
NVDA Nvidia Corp. Add +2.4% 4.17% +1.09
AVGO Broadcom Inc. Add +3.4% 1.39% +0.49
RTX RTX Corp. Add +107.3% 0.90% +0.46
MUB iShares National Muni Bond E Add +48.2% 1.25% +0.31
LLY Eli Lilly & Co. Add +40.0% 1.05% +0.17
AMZN Amazon.com Inc. Add +0.3% 3.14% +0.15
IVV iShares Core S&P 500 ETF Add +1.8% 3.41% +0.07
GABC German American Bancorp Add +10.2% 2.22% +0.06
KRE SS SPDR S&P Regional Bank Add +54.6% 0.15% +0.05
DUK Duke Energy Corp. New 0.03% +0.03
ASTS Ast Spacemobile Inc. New 0.03% +0.03
XPMAX Pioneer Municipal High Inc. New 0.03% +0.03
VOOV Vanguard S&P 500 Value ETF New 0.03% +0.03
TSLA Tesla Inc. New 0.02% +0.02
MGK Vngrd Mrgstr MG CP GR ETF-Ui New 0.02% +0.02
KMB Kimberly-Clark Corp. New 0.02% +0.02
CSCO Cisco Systems Inc. Add +0.3% 0.74% +0.02
DE Deere & Co. Add +22.9% 0.10% +0.02
NVG Nuveen Amt-FR Muni CRDT New 0.02% +0.02
XNEAX Nuveen Amt-FR QLTY Muni Inc. New 0.01% +0.01
WMT Walmart Inc. Add +7.4% 0.06% +0.00
AXP American Express Co. Add +9.0% 0.03% +0.00
ADP Automatic Data Processing Add +9.1% 0.06% 0.00
MCD McDonald's Corp. Add +17.4% 0.06% −0.00
AEP American Electric Power Add +11.5% 0.02% −0.00
NEE Nextera Energy Inc. Add +9.8% 0.04% −0.00
MTB M & T Bank Corp. Add +1.2% 0.64% −0.00
MO Altria Group Inc. Add +1.6% 0.02% −0.00
PEP Pepsico Inc. Add +8.5% 0.03% −0.00
CVX Chevron Corp. Add +5.8% 0.04% −0.01
AMGN Amgen Inc. Add +3.4% 0.05% −0.01
SUB iShares Short-Term National Add +1.3% 0.32% −0.03
VCIT Vanguard Int-Term Corporate Add +0.1% 0.31% −0.03
ABBV Abbvie Inc. Add +0.8% 0.51% −0.12
AAPL Apple Inc. Add +0.2% 3.74% −0.71
GVI iShares Intermediate Governm Add +0.3% 8.69% −0.78

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