German American Bancorp, Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 5, 2025), German American Bancorp, Inc. reported 125 stock positions worth $1.1 billion. Its top holding was iShares MSCI Acwi Ex US ETF (ACWX) at 9.3% of the portfolio, followed by iShares Russell Mid-Cap ETF (IWR, 8.2%) and iShares Intermediate Governm (GVI, 8.0%). Compared with Q2 2025, it opened 6 new positions, sold out of 9, added to 64 and reduced 23. The biggest buy was Berkshire Hathaway Class B (BRK.B, shares +1867%) and the biggest sale SS Consumer Staples Sel Sect (XLP, shares −87%).

Most Recent 13F
Q2 2026
Location
JASPER, IN
CIK
0000714395
Portfolio Value
$1.1B (Q3 2025)
SEC Filing
0000714395-25-000055 ↗ filed Nov 5, 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 Q2 2025 Q3 2025: $1.1B $1.1B Q3 2025 Q4 2025: $1.2B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.3B Q2 2026

Holdings 125 stocks · $1.1B
ACWX iShares MSCI Acwi Ex US ETF 9.30% 1,619,716 $105.3M Add +3.2%
IWR iShares Russell Mid-Cap ETF 8.22% 964,150 $93.1M Add +2.7%
GVI iShares Intermediate Governm 8.01% 843,986 $90.7M Add +1.3%
MSFT Microsoft Corp. 5.01% 109,435 $56.7M Add +3.1%
IWM iShares Russell 2000 ETF 4.68% 218,746 $52.9M Add +2.7%
NVDA Nvidia Corp. 4.58% 277,842 $51.8M Add +2.9%
AAPL Apple Inc. 4.22% 187,626 $47.8M Add +0.4%
GOOGL Alphabet Inc. Class A 3.92% 182,412 $44.3M Add +1.1%
IVV iShares Core S&P 500 ETF 3.37% 57,014 $38.2M Add +1.3%
AMZN Amazon.com Inc. 2.94% 151,363 $33.2M Add +3.3%
SPY SS SPDR S&P 500 ETF Trust-US 2.61% 44,386 $29.6M Reduce -3.1%
META Meta Platforms Inc. Class A 2.56% 39,520 $29.0M Add +3.2%
ORCL Oracle Corp. 2.20% 88,539 $24.9M Add +0.7%
GABC German American Bancorp 2.07% 597,905 $23.5M Add +1.3%
JPM JPMorgan Chase & Co. 1.66% 59,583 $18.8M Reduce -18.0%
AVGO Broadcom Inc. 1.61% 55,370 $18.3M Add +7.5%
MU Micron Technology Inc. 1.50% 101,381 $17.0M Add +3.0%
MA Mastercard Inc. Class A 1.43% 28,513 $16.2M Reduce -21.1%
MUB iShares National Muni Bond E 1.31% 138,853 $14.8M Add +13.1%
XLU St Sr Utl SL SE SPDR ETF-Usd 1.24% 160,608 $14.0M Add +2.7%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.17% 256,188 $13.2M Add +3.0%
BLK BlackRock Inc. 1.17% 11,328 $13.2M Add +2.3%
COST Costco Wholesale Corp. 1.16% 14,127 $13.1M Add +2.4%
MS Morgan Stanley 1.14% 81,219 $12.9M Add +2.6%
ABT Abbott Laboratories 1.05% 88,489 $11.9M Add +3.5%
RTX RTX Corp. 1.03% 69,696 $11.7M Add +10.8%
LLY Eli Lilly & Co. 1.01% 14,998 $11.4M Add +9.2%
PG The Procter & Gamble Co. 0.95% 69,919 $10.7M Add +3.1%
BRK.B Berkshire Hathaway Inc. Class B 0.94% 21,145 $10.6M Add +1867.0%
CAT Caterpillar Inc. 0.84% 19,954 $9.5M Reduce -10.5%
XOM Exxon Mobil Corp. 0.83% 83,043 $9.4M Add +2.8%
JNJ Johnson & Johnson 0.81% 49,194 $9.1M Add +4.3%
KO The Coca-Cola Co. 0.77% 130,740 $8.7M Add +4.1%
UNH Unitedhealth Group Inc. 0.74% 24,320 $8.4M Reduce -2.3%
GM General Motors Co. 0.71% 132,195 $8.1M Add +3.4%
CSCO Cisco Systems Inc. 0.68% 112,838 $7.7M Add +3.1%
WMT Walmart Inc. 0.64% 69,890 $7.2M Add +1012.2%
MTB M & T Bank Corp. filed as M & T BK CORP 0.63% 36,074 $7.1M Add +7.1%
HON Honeywell International Inc. 0.60% 32,295 $6.8M Add +2.4%
ABBV Abbvie Inc. 0.59% 28,829 $6.7M Add +3.3%
FDX FedEx Corp. 0.57% 27,151 $6.4M Add +2.6%
XLY SS Consumer Disc Select Sect 0.55% 25,852 $6.2M Reduce -6.0%
SNPS Synopsys Inc. 0.47% 10,701 $5.3M Add +5.0%
COP Conocophillips 0.47% 55,755 $5.3M Add +3.5%
BA The Boeing Co. 0.47% 24,416 $5.3M Add +4.2%
TMO Thermo Fisher Scientific Inc. 0.45% 10,436 $5.1M Add +2.6%
NKE Nike Inc. Class B 0.42% 68,585 $4.8M Add +5.7%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.42% 32,785 $4.7M Add +449.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.41% 40,084 $4.6M Add +3.2%
SUB iShares Short-Term National 0.35% 36,643 $3.9M Add +18.1%
PSX Phillips 66 0.35% 28,752 $3.9M Add +3.2%
DHR Danaher Corp. 0.33% 18,765 $3.7M Add +3.1%
PFE Pfizer Inc. 0.31% 136,112 $3.5M Add +4.6%
VCIT Vanguard Int-Term Corporate 0.30% 40,362 $3.4M Add +4.7%
VYM Vanguard High DVD Yield ETF 0.30% 23,821 $3.4M No change
ZTS Zoetis Inc. 0.28% 21,815 $3.2M Add +2.3%
QQQ Invesco QQQ Trust Series 1 0.20% 3,735 $2.2M No change
V Visa Inc. Class A 0.19% 6,236 $2.1M Add +1.7%
XLK SS Technology Select Sector 0.19% 7,508 $2.1M Reduce -3.7%
XLC SS Comm Select Sector SPDR 0.18% 17,694 $2.1M Reduce -6.9%
SPDW Ste STR SPDR PT DW Eu ETF 0.12% 31,453 $1.3M No change
HD Home Depot Inc. 0.11% 3,154 $1.3M Add +2.9%
IWD iShares Russell 1000 Value E 0.10% 5,763 $1.2M Reduce -4.3%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.10% 3,891 $1.1M No change
XLF SS Financial Select Sector 0.10% 20,905 $1.1M Reduce -2.5%
EFA iShares MSCI Eafe ETF 0.10% 11,599 $1.1M No change
GOLDMAN SACHS GROUP INC 0.09% 1,213 $966K Add +1.5%
VUG Vanguard Mrngstar GR ETF-Sui 0.08% 1,838 $882K No change
SPTM SS SPDR P S&P 1500 Comp ETF 0.07% 10,525 $849K No change
ITOT iShares Core S&P Total U.S. 0.07% 5,780 $842K No change
XLP SS Consumer Staples Sel Sect 0.07% 10,700 $839K Reduce -87.5%
DE Deere & Co. 0.07% 1,621 $741K Reduce -19.8%
MDY State Street SPDR S&P Midcap 0.07% 1,242 $741K No change
CRH CRH PLC 0.07% 6,132 $735K Reduce -0.3%
ADP Automatic Data Processing 0.05% 2,117 $621K No change
MCD McDonald's Corp. 0.05% 2,024 $615K Add +4.7%
GLD SPDR Gold Shares 0.05% 1,697 $603K No change
VB Vanguard Most SM-Cap ETF-Usd 0.05% 2,346 $597K No change
VXUS Vanguard Total Intl Stock 0.05% 8,058 $592K No change
PM Philip Morris International 0.05% 3,619 $587K Add +7.0%
XLV SS Health Care Select Sector 0.05% 4,208 $586K Reduce -10.7%
IUSV iShares Core S&P U.S. Value 0.05% 5,792 $579K No change
IWF iShares Russell 1000 Growth 0.05% 1,235 $578K No change
LEN Lennar Corp. Class A 0.05% 4,545 $573K Reduce -86.1%
ADBE Adobe Inc. 0.05% 1,597 $563K Reduce -0.3%
VTV Vanguard Mrngstr Val ETF-Aui 0.05% 2,979 $556K No change
TXN Texas Instruments Inc. 0.05% 2,863 $526K Add +1.4%
NEE Nextera Energy Inc. 0.04% 6,666 $503K Add +2.5%
AMGN Amgen Inc. 0.04% 1,772 $500K Reduce -3.1%
TT Trane Technologies PLC 0.04% 1,100 $464K No change
CVX Chevron Corp. 0.04% 2,883 $448K Add +8.1%
BSV Vanguard Short-Term Bond ETF 0.04% 5,623 $444K No change
SPIB SS SPDR P Int C Corp. ETF 0.04% 12,353 $419K Reduce -2.2%
AGGM iShares 1-10 Year U.S. Aggre 0.04% 3,937 $415K No change
AGG iShares Core U.S. Aggregate 0.04% 3,981 $399K No change
TSLA Tesla Inc. 0.03% 845 $376K Add +5.4%
XLB SS Materials Select Sector 0.03% 4,152 $372K Reduce -57.7%
VZ Verizon Communications Inc. 0.03% 8,316 $365K Add +3.7%
CHD Church & Dwight Co. Inc. 0.03% 4,126 $362K No change
GE General Electric filed as GE AEROSPACE 0.03% 1,187 $357K New
PEP Pepsico Inc. 0.03% 2,376 $334K Reduce -4.2%
FTC First Trust Large Cap Growth 0.03% 2,000 $321K No change
MMM 3M Co. 0.03% 2,060 $320K Reduce -7.0%
SPEM State Street SP PTF Em ETF 0.03% 6,711 $314K No change
ASTS Ast Spacemobile Inc. 0.03% 6,269 $308K No change
PNC PNC Financial Services Group 0.03% 1,500 $301K No change
AXP American Express Co. 0.03% 881 $293K No change
MO Altria Group Inc. 0.03% 4,394 $290K Add +12.8%
QCOM Qualcomm Inc. 0.03% 1,719 $286K No change
USB US Bancorp 0.03% 5,900 $285K Add +9.3%
VOOV Vanguard S&P 500 Value ETF 0.02% 1,400 $279K No change
XLI SS Industrial Select Sector 0.02% 1,795 $277K Reduce -26.3%
SYK Stryker Corp. 0.02% 735 $272K Add +7.3%
MGK Vngrd Mrgstr MG CP GR ETF-Ui 0.02% 642 $258K No change
ALL Allstate Corp. 0.02% 1,185 $254K No change
AEP American Electric Power 0.02% 2,221 $250K Reduce -3.5%
WM Waste Management Inc. 0.02% 1,082 $239K Add +10.2%
LIN Linde PLC 0.02% 485 $230K Add +2.3%
NOC Northrop Grumman Corp. 0.02% 375 $228K New
ORLY O'reilly Automotive Inc. 0.02% 2,100 $226K New
ITW Illinois Tool Works 0.02% 866 $226K New
IEFA iShares Core MSCI Eafe ETF 0.02% 2,505 $219K New
VNQ Vanguard Real Estate ETF 0.02% 2,364 $216K No change
MDYV SS SPDR S&P 400 MC Val ETF 0.02% 2,567 $214K No change
AMAT Applied Materials Inc. 0.02% 1,000 $205K New

Portfolio Sells Q2 2025 → Q3 2025
XLP SS Consumer Staples Sel Sect Reduce -87.5% 0.07% −0.60
MA Mastercard Inc. Class A Reduce -21.1% 1.43% −0.55
JPM JPMorgan Chase & Co. Reduce -18.0% 1.66% −0.40
LEN Lennar Corp. Class A Reduce -86.1% 0.05% −0.30
KRE SS SPDR S&P Regional Bank Sold out 0.00% −0.15
SPY SS SPDR S&P 500 ETF Trust-US Reduce -3.1% 2.61% −0.15
XLB SS Materials Select Sector Reduce -57.7% 0.03% −0.05
XLE SS Energy Select Sector Sold out 0.00% −0.04
XLY SS Consumer Disc Select Sect Reduce -6.0% 0.55% −0.04
DE Deere & Co. Reduce -19.8% 0.07% −0.03
DUK Duke Energy Corp. Sold out 0.00% −0.03
XPMAX Pioneer Municipal High Inc. Sold out 0.00% −0.03
MRSH Marsh & McLennan Cos Sold out 0.00% −0.02
SYBT Stock Yards Bancorp Inc. Sold out 0.00% −0.02
KMB Kimberly-Clark Corp. Sold out 0.00% −0.02
NVG Nuveen Amt-FR Muni CRDT Sold out 0.00% −0.02
UNH Unitedhealth Group Inc. Reduce -2.3% 0.74% −0.02
XLC SS Comm Select Sector SPDR Reduce -6.9% 0.18% −0.02
XNEAX Nuveen Amt-FR QLTY Muni Inc. Sold out 0.00% −0.01
ADBE Adobe Inc. Reduce -0.3% 0.05% −0.01
IWD iShares Russell 1000 Value E Reduce -4.3% 0.10% −0.01
XLI SS Industrial Select Sector Reduce -26.3% 0.02% −0.01
XLV SS Health Care Select Sector Reduce -10.7% 0.05% −0.01
XLF SS Financial Select Sector Reduce -2.5% 0.10% −0.01
XLK SS Technology Select Sector Reduce -3.7% 0.19% −0.01
AMGN Amgen Inc. Reduce -3.1% 0.04% −0.01
MMM 3M Co. Reduce -7.0% 0.03% −0.00
SPIB SS SPDR P Int C Corp. ETF Reduce -2.2% 0.04% −0.00
CAT Caterpillar Inc. Reduce -10.5% 0.84% −0.00
PEP Pepsico Inc. Reduce -4.2% 0.03% −0.00
AEP American Electric Power Reduce -3.5% 0.02% −0.00
CRH CRH PLC Reduce -0.3% 0.07% +0.01

Portfolio Buys Q2 2025 → Q3 2025
BRK.B Berkshire Hathaway Inc. Class B Add +1867.0% 0.94% +0.89
GOOGL Alphabet Inc. Class A Add +1.1% 3.92% +0.81
WMT Walmart Inc. Add +1012.2% 0.64% +0.58
AAPL Apple Inc. Add +0.4% 4.22% +0.48
NVDA Nvidia Corp. Add +2.9% 4.58% +0.41
TJX TJX Companies Inc. Add +449.4% 0.42% +0.35
ORCL Oracle Corp. Add +0.7% 2.20% +0.32
MU Micron Technology Inc. Add +3.0% 1.50% +0.31
AVGO Broadcom Inc. Add +7.5% 1.61% +0.23
IWM iShares Russell 2000 ETF Add +2.7% 4.68% +0.19
RTX RTX Corp. Add +10.8% 1.03% +0.13
JNJ Johnson & Johnson Add +4.3% 0.81% +0.10
GM General Motors Co. Add +3.4% 0.71% +0.10
ABBV Abbvie Inc. Add +3.3% 0.59% +0.08
MUB iShares National Muni Bond E Add +13.1% 1.31% +0.05
MS Morgan Stanley Add +2.6% 1.14% +0.05
TMO Thermo Fisher Scientific Inc. Add +2.6% 0.45% +0.04
BLK BlackRock Inc. Add +2.3% 1.17% +0.03
GE General Electric New 0.03% +0.03
SUB iShares Short-Term National Add +18.1% 0.35% +0.02
PSX Phillips 66 Add +3.2% 0.35% +0.02
NOC Northrop Grumman Corp. New 0.02% +0.02
ORLY O'reilly Automotive Inc. New 0.02% +0.02
ITW Illinois Tool Works New 0.02% +0.02
IEFA iShares Core MSCI Eafe ETF New 0.02% +0.02
BAC Bank of America Corp. Add +3.0% 1.17% +0.02
AMAT Applied Materials Inc. New 0.02% +0.02
TSLA Tesla Inc. Add +5.4% 0.03% +0.01
MO Altria Group Inc. Add +12.8% 0.03% +0.00
HD Home Depot Inc. Add +2.9% 0.11% +0.00
GOLDMAN SACHS GROUP INC Add +1.5% 0.09% +0.00
CVX Chevron Corp. Add +8.1% 0.04% +0.00
USB US Bancorp Add +9.3% 0.03% +0.00
NEE Nextera Energy Inc. Add +2.5% 0.04% +0.00
MCD McDonald's Corp. Add +4.7% 0.05% −0.00
WM Waste Management Inc. Add +10.2% 0.02% −0.00
LIN Linde PLC Add +2.3% 0.02% −0.00
PFE Pfizer Inc. Add +4.6% 0.31% −0.00
VZ Verizon Communications Inc. Add +3.7% 0.03% −0.00
SYK Stryker Corp. Add +7.3% 0.02% −0.00
COP Conocophillips Add +3.5% 0.47% −0.01
PM Philip Morris International Add +7.0% 0.05% −0.01
MTB M & T Bank Corp. Add +7.1% 0.63% −0.01
XLU St Sr Utl SL SE SPDR ETF-Usd Add +2.7% 1.24% −0.01
TXN Texas Instruments Inc. Add +1.4% 0.05% −0.01
VCIT Vanguard Int-Term Corporate Add +4.7% 0.30% −0.01
BA The Boeing Co. Add +4.2% 0.47% −0.01
FDX FedEx Corp. Add +2.6% 0.57% −0.02
DHR Danaher Corp. Add +3.1% 0.33% −0.02
XOM Exxon Mobil Corp. Add +2.8% 0.83% −0.02

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