German American Bancorp, Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), German American Bancorp, Inc. reported 125 stock positions worth $1.2 billion. Its top holding was iShares MSCI Acwi Ex US ETF (ACWX) at 9.2% of the portfolio, followed by iShares Russell Mid-Cap ETF (IWR, 7.9%) and iShares Intermediate Governm (GVI, 7.8%). Compared with Q3 2025, it opened 2 new positions, sold out of 2, added to 16 and reduced 77. The biggest buy was German American Bancorp (GABC, shares +60%) and the biggest sale Oracle (ORCL, shares −3%).

Most Recent 13F
Q2 2026
Location
JASPER, IN
CIK
0000714395
Portfolio Value
$1.2B (Q4 2025)
SEC Filing
0000714395-26-000009 ↗ filed Feb 17, 2026

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 Q3 2025 Q4 2025: $1.2B $1.2B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.3B Q2 2026

Holdings 125 stocks · $1.2B
ACWX iShares MSCI Acwi Ex US ETF 9.22% 1,612,103 $108.2M Reduce -0.5%
IWR iShares Russell Mid-Cap ETF 7.86% 958,983 $92.3M Reduce -0.5%
GVI iShares Intermediate Governm 7.81% 854,539 $91.7M Add +1.3%
GOOGL Alphabet Inc. Class A 4.57% 171,388 $53.6M Reduce -6.0%
IWM iShares Russell 2000 ETF 4.56% 217,470 $53.5M Reduce -0.6%
MSFT Microsoft Corp. 4.47% 108,542 $52.5M Reduce -0.8%
NVDA Nvidia Corp. 4.36% 274,650 $51.2M Reduce -1.1%
AAPL Apple Inc. 4.31% 186,115 $50.6M Reduce -0.8%
IVV iShares Core S&P 500 ETF 3.58% 61,371 $42.0M Add +7.6%
GABC German American Bancorp 3.18% 954,287 $37.4M Add +59.6%
AMZN Amazon.com Inc. 2.94% 149,477 $34.5M Reduce -1.3%
SPY SS SPDR S&P 500 ETF Trust-US 2.55% 43,894 $29.9M Reduce -1.1%
META Meta Platforms Inc. Class A 2.17% 38,595 $25.5M Reduce -2.3%
MU Micron Technology Inc. 1.92% 78,978 $22.5M Reduce -22.1%
AVGO Broadcom Inc. 1.62% 54,993 $19.0M Reduce -0.7%
XLU St Sr Utl SL SE SPDR ETF-Usd 1.62% 444,499 $19.0M Add +38.4%
JPM JPMorgan Chase & Co. 1.58% 57,694 $18.6M Reduce -3.2%
ORCL Oracle Corp. 1.43% 85,945 $16.8M Reduce -2.9%
LLY Eli Lilly & Co. 1.36% 14,910 $16.0M Reduce -0.6%
MA Mastercard Inc. Class A 1.33% 27,355 $15.6M Reduce -4.1%
MUB iShares National Muni Bond E 1.27% 138,722 $14.9M Reduce -0.1%
MS Morgan Stanley 1.22% 80,652 $14.3M Reduce -0.7%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.19% 254,443 $14.0M Reduce -0.7%
RTX RTX Corp. 1.09% 69,857 $12.8M Add +0.2%
BLK BlackRock Inc. 1.03% 11,248 $12.0M Reduce -0.7%
COST Costco Wholesale Corp. 1.02% 13,850 $11.9M Reduce -2.0%
BRK.B Berkshire Hathaway Inc. Class B 0.96% 22,430 $11.3M Add +6.1%
CAT Caterpillar Inc. 0.96% 19,592 $11.2M Reduce -1.8%
ABT Abbott Laboratories 0.94% 87,799 $11.0M Reduce -0.8%
GM General Motors Co. 0.91% 131,168 $10.7M Reduce -0.8%
JNJ Johnson & Johnson 0.86% 48,781 $10.1M Reduce -0.8%
XOM Exxon Mobil Corp. 0.85% 82,465 $9.9M Reduce -0.7%
PG The Procter & Gamble Co. 0.81% 66,472 $9.5M Reduce -4.9%
KO The Coca-Cola Co. 0.77% 129,926 $9.1M Reduce -0.6%
CSCO Cisco Systems Inc. 0.73% 111,948 $8.6M Reduce -0.8%
WMT Walmart Inc. 0.69% 73,109 $8.1M Add +4.6%
FDX FedEx Corp. 0.66% 26,900 $7.8M Reduce -0.9%
UNH Unitedhealth Group Inc. 0.64% 22,929 $7.6M Reduce -5.7%
MTB M & T Bank Corp. filed as M & T BK CORP 0.61% 35,478 $7.1M Reduce -1.6%
ABBV Abbvie Inc. 0.56% 28,619 $6.5M Reduce -0.7%
HON Honeywell International Inc. 0.53% 31,924 $6.2M Reduce -1.1%
XLY SS Consumer Disc Select Sect 0.52% 51,074 $6.1M Reduce -1.2%
TMO Thermo Fisher Scientific Inc. 0.51% 10,270 $6.0M Reduce -1.6%
BA The Boeing Co. 0.45% 24,305 $5.3M Reduce -0.5%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.45% 34,189 $5.3M Add +4.3%
COP Conocophillips 0.43% 54,342 $5.1M Reduce -2.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.38% 39,538 $4.5M Reduce -1.4%
SNPS Synopsys Inc. 0.37% 9,242 $4.3M Reduce -13.6%
DHR Danaher Corp. 0.36% 18,441 $4.2M Reduce -1.7%
SUB iShares Short-Term National 0.34% 37,573 $4.0M Add +2.5%
NKE Nike Inc. Class B 0.33% 61,240 $3.9M Reduce -10.7%
PSX Phillips 66 0.31% 28,522 $3.7M Reduce -0.8%
VYM Vanguard High DVD Yield ETF 0.29% 23,821 $3.4M No change
VCIT Vanguard Int-Term Corporate 0.29% 40,365 $3.4M Add +0.0%
NOC Northrop Grumman Corp. 0.27% 5,634 $3.2M Add +1402.4%
PFE Pfizer Inc. 0.27% 128,468 $3.2M Reduce -5.6%
QQQ Invesco QQQ Trust Series 1 0.22% 4,255 $2.6M Add +13.9%
ZTS Zoetis Inc. 0.20% 18,779 $2.4M Reduce -13.9%
V Visa Inc. Class A 0.19% 6,205 $2.2M Reduce -0.5%
XLK SS Technology Select Sector 0.19% 15,111 $2.2M Add +0.6%
XLC SS Comm Select Sector SPDR 0.17% 17,444 $2.1M Reduce -1.4%
SPDW Ste STR SPDR PT DW Eu ETF 0.12% 31,453 $1.4M No change
XLF SS Financial Select Sector 0.09% 20,286 $1.1M Reduce -3.0%
EFA iShares MSCI Eafe ETF 0.09% 11,498 $1.1M Reduce -0.9%
HD Home Depot Inc. 0.09% 3,137 $1.1M Reduce -0.5%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.09% 3,633 $1.1M Reduce -6.6%
GOLDMAN SACHS GROUP INC 0.09% 1,193 $1.0M Reduce -1.6%
IWD iShares Russell 1000 Value E 0.08% 4,556 $958K Reduce -20.9%
SPTM SS SPDR P S&P 1500 Comp ETF 0.07% 10,525 $868K No change
VUG Vanguard Mrngstar GR ETF-Sui 0.07% 1,648 $804K Reduce -10.3%
CRH CRH PLC 0.07% 6,132 $765K No change
DE Deere & Co. 0.06% 1,618 $753K Reduce -0.2%
MDY State Street SPDR S&P Midcap 0.06% 1,242 $750K No change
XLV SS Health Care Select Sector 0.06% 4,256 $659K Add +1.1%
ITOT iShares Core S&P Total U.S. 0.06% 4,420 $657K Reduce -23.5%
ASTS Ast Spacemobile Inc. 0.05% 8,769 $637K Add +39.9%
MCD McDonald's Corp. 0.05% 1,997 $610K Reduce -1.3%
VB Vanguard Most SM-Cap ETF-Usd 0.05% 2,329 $601K Reduce -0.7%
IUSV iShares Core S&P U.S. Value 0.05% 5,792 $594K No change
VXUS Vanguard Total Intl Stock 0.05% 7,844 $592K Reduce -2.7%
IWF iShares Russell 1000 Growth 0.05% 1,235 $585K No change
AMGN Amgen Inc. 0.05% 1,772 $580K No change
PM Philip Morris International 0.05% 3,581 $574K Reduce -1.1%
ADBE Adobe Inc. 0.05% 1,597 $559K No change
ADP Automatic Data Processing 0.05% 2,107 $542K Reduce -0.5%
NEE Nextera Energy Inc. 0.04% 6,514 $523K Reduce -2.3%
GLD SPDR Gold Shares 0.04% 1,297 $514K Reduce -23.6%
VTV Vanguard Mrngstr Val ETF-Aui 0.04% 2,669 $510K Reduce -10.4%
TXN Texas Instruments Inc. 0.04% 2,807 $487K Reduce -2.0%
XLP SS Consumer Staples Sel Sect 0.04% 6,042 $469K Reduce -43.5%
BSV Vanguard Short-Term Bond ETF 0.04% 5,623 $443K No change
TSLA Tesla Inc. 0.04% 969 $436K Add +14.7%
CVX Chevron Corp. 0.04% 2,834 $432K Reduce -1.7%
TT Trane Technologies PLC 0.04% 1,100 $428K No change
AGGM iShares 1-10 Year U.S. Aggre 0.04% 3,937 $412K No change
AGG iShares Core U.S. Aggregate 0.03% 3,966 $396K Reduce -0.4%
XLB SS Materials Select Sector 0.03% 8,260 $375K Reduce -0.5%
SPIB SS SPDR P Int C Corp. ETF 0.03% 10,753 $364K Reduce -12.9%
GE General Electric filed as GE AEROSPACE 0.03% 1,127 $347K Reduce -5.0%
CHD Church & Dwight Co. Inc. 0.03% 4,126 $346K No change
PEP Pepsico Inc. 0.03% 2,376 $341K No change
MMM 3M Co. 0.03% 2,060 $330K No change
AXP American Express Co. 0.03% 881 $326K No change
FTC First Trust Large Cap Growth 0.03% 2,000 $320K No change
USB US Bancorp 0.03% 5,900 $315K No change
SPEM State Street SP PTF Em ETF 0.03% 6,711 $314K No change
PNC PNC Financial Services Group 0.03% 1,500 $313K No change
VOOV Vanguard S&P 500 Value ETF 0.02% 1,400 $287K No change
QCOM Qualcomm Inc. 0.02% 1,659 $284K Reduce -3.5%
LEN Lennar Corp. Class A 0.02% 2,731 $281K Reduce -39.9%
XLI SS Industrial Select Sector 0.02% 1,774 $275K Reduce -1.2%
MGK Vngrd Mrgstr MG CP GR ETF-Ui 0.02% 642 $265K No change
SYK Stryker Corp. 0.02% 735 $258K No change
AMAT Applied Materials Inc. 0.02% 1,000 $257K No change
AEP American Electric Power 0.02% 2,221 $256K No change
MO Altria Group Inc. 0.02% 4,384 $253K Reduce -0.2%
ALL Allstate Corp. 0.02% 1,185 $247K No change
WM Waste Management Inc. 0.02% 1,082 $238K No change
OEF iShares S&P 100 ETF 0.02% 638 $219K New
MDYV SS SPDR S&P 400 MC Val ETF 0.02% 2,567 $217K No change
CMI Cummins Inc. 0.02% 425 $217K New
ITW Illinois Tool Works 0.02% 866 $213K No change
VZ Verizon Communications Inc. 0.02% 5,183 $211K Reduce -37.7%
VNQ Vanguard Real Estate ETF 0.02% 2,364 $209K No change
LIN Linde PLC 0.02% 474 $202K Reduce -2.3%

Portfolio Sells Q3 2025 → Q4 2025
ORCL Oracle Corp. Reduce -2.9% 1.43% −0.77
MSFT Microsoft Corp. Reduce -0.8% 4.47% −0.54
META Meta Platforms Inc. Class A Reduce -2.3% 2.17% −0.39
IWR iShares Russell Mid-Cap ETF Reduce -0.5% 7.86% −0.36
NVDA Nvidia Corp. Reduce -1.1% 4.36% −0.22
BLK BlackRock Inc. Reduce -0.7% 1.03% −0.14
COST Costco Wholesale Corp. Reduce -2.0% 1.02% −0.14
PG The Procter & Gamble Co. Reduce -4.9% 0.81% −0.14
IWM iShares Russell 2000 ETF Reduce -0.6% 4.56% −0.12
ABT Abbott Laboratories Reduce -0.8% 0.94% −0.11
MA Mastercard Inc. Class A Reduce -4.1% 1.33% −0.10
UNH Unitedhealth Group Inc. Reduce -5.7% 0.64% −0.10
SNPS Synopsys Inc. Reduce -13.6% 0.37% −0.10
NKE Nike Inc. Class B Reduce -10.7% 0.33% −0.09
ACWX iShares MSCI Acwi Ex US ETF Reduce -0.5% 9.22% −0.09
ZTS Zoetis Inc. Reduce -13.9% 0.20% −0.08
JPM JPMorgan Chase & Co. Reduce -3.2% 1.58% −0.08
HON Honeywell International Inc. Reduce -1.1% 0.53% −0.07
SPY SS SPDR S&P 500 ETF Trust-US Reduce -1.1% 2.55% −0.06
MUB iShares National Muni Bond E Reduce -0.1% 1.27% −0.04
XLP SS Consumer Staples Sel Sect Reduce -43.5% 0.04% −0.03
PFE Pfizer Inc. Reduce -5.6% 0.27% −0.03
ABBV Abbvie Inc. Reduce -0.7% 0.56% −0.03
COP Conocophillips Reduce -2.5% 0.43% −0.03
PSX Phillips 66 Reduce -0.8% 0.31% −0.03
XLY SS Consumer Disc Select Sect Reduce -1.2% 0.52% −0.03
LEN Lennar Corp. Class A Reduce -39.9% 0.02% −0.03
DIS The Walt Disney Co. Reduce -1.4% 0.38% −0.02
IWD iShares Russell 1000 Value E Reduce -20.9% 0.08% −0.02
MTB M & T Bank Corp. Reduce -1.6% 0.61% −0.02
HD Home Depot Inc. Reduce -0.5% 0.09% −0.02
ORLY O'reilly Automotive Inc. Sold out 0.00% −0.02
IEFA iShares Core MSCI Eafe ETF Sold out 0.00% −0.02
ITOT iShares Core S&P Total U.S. Reduce -23.5% 0.06% −0.02
BA The Boeing Co. Reduce -0.5% 0.45% −0.02
VZ Verizon Communications Inc. Reduce -37.7% 0.02% −0.01
VO Vngrd Mrngstr MD-Cap ETF-Usd Reduce -6.6% 0.09% −0.01
XLC SS Comm Select Sector SPDR Reduce -1.4% 0.17% −0.01
GLD SPDR Gold Shares Reduce -23.6% 0.04% −0.01
VUG Vanguard Mrngstar GR ETF-Sui Reduce -10.3% 0.07% −0.01
ADP Automatic Data Processing Reduce -0.5% 0.05% −0.01
SPIB SS SPDR P Int C Corp. ETF Reduce -12.9% 0.03% −0.01
VTV Vanguard Mrngstr Val ETF-Aui Reduce -10.4% 0.04% −0.01
TXN Texas Instruments Inc. Reduce -2.0% 0.04% −0.01
XLF SS Financial Select Sector Reduce -3.0% 0.09% −0.00
MO Altria Group Inc. Reduce -0.2% 0.02% −0.00
LIN Linde PLC Reduce -2.3% 0.02% −0.00
PM Philip Morris International Reduce -1.1% 0.05% −0.00
CVX Chevron Corp. Reduce -1.7% 0.04% −0.00
V Visa Inc. Class A Reduce -0.5% 0.19% −0.00

Portfolio Buys Q3 2025 → Q4 2025
GABC German American Bancorp Add +59.6% 3.18% +1.11
XLU St Sr Utl SL SE SPDR ETF-Usd Add +38.4% 1.62% +0.38
NOC Northrop Grumman Corp. Add +1402.4% 0.27% +0.25
IVV iShares Core S&P 500 ETF Add +7.6% 3.58% +0.21
RTX RTX Corp. Add +0.2% 1.09% +0.06
WMT Walmart Inc. Add +4.6% 0.69% +0.06
TJX TJX Companies Inc. Add +4.3% 0.45% +0.03
ASTS Ast Spacemobile Inc. Add +39.9% 0.05% +0.03
QQQ Invesco QQQ Trust Series 1 Add +13.9% 0.22% +0.02
BRK.B Berkshire Hathaway Inc. Class B Add +6.1% 0.96% +0.02
OEF iShares S&P 100 ETF New 0.02% +0.02
CMI Cummins Inc. New 0.02% +0.02
XLV SS Health Care Select Sector Add +1.1% 0.06% +0.00
TSLA Tesla Inc. Add +14.7% 0.04% +0.00
XLK SS Technology Select Sector Add +0.6% 0.19% −0.00
SUB iShares Short-Term National Add +2.5% 0.34% −0.00
VCIT Vanguard Int-Term Corporate Add +0.0% 0.29% −0.01
GVI iShares Intermediate Governm Add +1.3% 7.81% −0.20

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