AMES NATIONAL CORP

CIK 1132651 · View on SEC EDGAR ↗

Portfolio value QoQ: -2.4% 13F does not disclose cash

Top 10 holdings weight65.70%

Top 25 holdings weight87.42%

Positions above 1%21

Effective number of positions11.3

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q1 2026: 3.95% Est. buys $6,665,756 · sells $7,442,130

Median holding: 5.0 quarters Tracked Q1 2025–Q1 2026 · 89.3% still held

New positions4

Increased13

Decreased31

Closed3

Portfolio value $166.6M #7,101 of 9,337 by 13F value · top 76.1%

Positions 67

As of March 31, 2026 Data as of Q1 2026

Sector breakdown

Technology 6.6%

Financials 4.9%

Healthcare 4.1%

Communication Services 3.3%

Retail 2.9%

Industrials 2.5%

Energy 2.0%

Consumer Discretionary 1.0%

Consumer products 0.8%

Materials 0.5%

Consumer Staples 0.5%

Utilities 0.2%

Other/Unmapped 70.8%

Full portfolio 67 positions

					Streak
IVV iShares Trust	$41,526,519	24.92%	63,573	$-1,113,736	Up ×5
BSV VANGUARD BOND INDEX FUNDS	$12,786,281	7.67%	163,072	$958,003	Up ×3
BND Vanguard Total Bond Market ETF	$12,462,392	7.48%	169,234	$1,028,280	Up ×3
AGG iShares Trust	$12,293,895	7.38%	123,843	$921,758	Up ×3
VXUS Vanguard Total International Stock ETF	$6,027,689	3.62%	78,170	$95,087	Down ×1
MSFT Microsoft Corporation - Common Stock	$5,865,087	3.52%	15,856	$-1,767,887	Up ×1
IWR iShares Russell Mid-Cap ETF	$5,280,755	3.17%	54,312	$-20,064	Down ×5
VTIP Vanguard Short-Term Inflation-Protected Securities Index Fund ETF Shares	$4,807,388	2.88%	96,244	$328,093	Up ×3
AAPL Apple Inc. - Common Stock	$4,486,342	2.69%	17,681	$-320,314
IWM iShares Russell 2000 Index Fund	$3,948,160	2.37%	15,920	$-20,432	Down ×5
IJH iShares Trust	$3,904,315	2.34%	57,816	$250,885	Up ×5
Unknown issuer (CUSIP: GEI001202)	$3,421,180	2.05%	1,202	$0
VTI Vanguard Morningstar Total Stock Market ETF	$3,261,784	1.96%	10,169	$-168,028	Down ×2
XLK SELECT SECTOR SPDR TRUST	$3,254,721	1.95%	24,490	$-271,104
GOOG Alphabet Inc. - Class C Capital Stock	$2,738,079	1.64%	9,545	$-301,074	Down ×2
JNJ Johnson & Johnson Common Stock	$2,710,008	1.63%	11,096	$165,558	Down ×2
IJR iShares Trust	$2,628,659	1.58%	21,146	$191,889	Up ×5
HD Home Depot, Inc. (The) Common Stock	$2,580,596	1.55%	7,868	$-197,704	Down ×5
BRK-B (filed as BRKB) Berkshire Hathaway Inc. Class B	$2,237,331	1.34%	4,704	$-112,055	Up ×1
JPM JP Morgan Chase & Co. Common Stock	$2,169,867	1.30%	7,405	$-320,894	Down ×5
CVX Chevron Corporation Common Stock	$1,762,920	1.06%	8,492	$401,593	Down ×2
XOM Exxon Mobil Corporation Common Stock	$1,490,927	0.89%	8,765	$436,026
MCD McDonald's Corporation Common Stock	$1,384,569	0.83%	4,455	$22,987
WHWK Whitehawk Therapeutics, Inc. - Common Stock	$1,333,269	0.80%	4,571		Up ×1
ATLO Ames National Corporation - Common Stock	$1,313,838	0.79%	46,557	$-30,630	Down ×2
PG Procter & Gamble Company (The) Common Stock	$1,266,945	0.76%	8,777	$-66,125	Down ×5
ADP Automatic Data Processing, Inc. - Common Stock	$1,154,672	0.69%	5,683	$-376,619	Down ×2
WMT Walmart Inc. - Common Stock	$990,885	0.59%	7,973	$52,478	Down ×5
UNP Union Pacific Corporation Common Stock	$982,527	0.59%	4,082	$-292,509	Down ×2
CSCO Cisco Systems, Inc. - Common Stock	$978,290	0.59%	12,606	$7,250
MRK Merck & Company, Inc. Common Stock (new)	$944,016	0.57%	7,854	$90,989	Down ×2
CASY Caseys General Stores, Inc. - Common Stock	$873,432	0.52%	1,200	$210,180
GOOGL Alphabet Inc. - Class A Common Stock	$819,781	0.49%	2,863	$-76,338
VOO Vanguard S&P 500 ETF	$685,331	0.41%	1,148	$14,302	Up ×2
V Visa Inc.	$627,808	0.38%	2,082	$-52,610	Up ×1
GD General Dynamics Corporation Common Stock	$604,754	0.36%	1,762	$11,559
VYM Vanguard High Dividend Yield ETF	$585,736	0.35%	3,955	$18,114
BLK BlackRock, Inc. Common Stock	$542,405	0.33%	564	$-114,784	Down ×2
SPY SPY	$538,482	0.32%	828	$-60,244	Down ×1
PPG PPG Industries, Inc. Common Stock	$488,442	0.29%	4,570	$20,200
PEP PepsiCo, Inc. - Common Stock	$468,975	0.28%	3,020	$34,827	Down ×5
BX Blackstone Inc. Common Stock	$448,461	0.27%	3,900	$-152,685
PFE Pfizer, Inc. Common Stock	$446,914	0.27%	15,942	$67,612	Up ×1
QCOM QUALCOMM Incorporated - Common Stock	$439,655	0.26%	3,414	$-144,310
RTX RTX Corporation Common Stock	$429,781	0.26%	2,228	$21,166
UNH UnitedHealth Group Incorporated Common Stock (DE)	$410,215	0.25%	1,516	$-101,125	Down ×3
T AT&T Inc.	$407,022	0.24%	14,037	$-629,725	Down ×1
AFL AFLAC Incorporated Common Stock	$404,830	0.24%	3,690	$-23,569	Down ×1
DE Deere & Company Common Stock	$373,579	0.22%	663	$73,287	Up ×1
APD Air Products and Chemicals, Inc. Common Stock	$373,280	0.22%	1,285	$55,859
NSC Norfolk Southern Corporation Common Stock	$368,225	0.22%	1,300	$-266,959	Down ×1
VZ Verizon Communications Inc. Common Stock	$359,610	0.22%	7,163	$-180,344	Down ×2
KO Coca-Cola Company (The) Common Stock	$349,602	0.21%	4,597	$14,244	Down ×1
SYY Sysco Corporation Common Stock	$337,034	0.20%	4,725	$-23,679	Down ×1
ABBV AbbVie Inc. Common Stock	$311,221	0.19%	1,465	$-23,517
LNT Alliant Energy Corporation - Common Stock	$299,898	0.18%	4,185	$-1,157,524	Down ×1
NKE Nike, Inc. Common Stock	$290,352	0.17%	5,497	$-99,426	Down ×1
PFF iShares Preferred and Income Securities ETF	$285,008	0.17%	9,400	$-74,902	Down ×4
CAT Caterpillar, Inc. Common Stock	$271,340	0.16%	383	$51,930
DIS Walt Disney Company (The) Common Stock	$243,263	0.15%	2,524	$-49,354	Down ×3
ABT Abbott Laboratories Common Stock	$239,764	0.14%	2,325	$-51,535
VEA Vanguard FTSE Developed Markets ETF	$233,828	0.14%	3,649	$5,875
WFC Wells Fargo & Company Common Stock	$231,570	0.14%	3,000	$-793,630	Down ×2
KLAC KLA Corporation - Common Stock	$220,862	0.13%	150		Up ×1
SYK Stryker Corporation Common Stock	$218,167	0.13%	665
TRV The Travelers Companies, Inc. Common Stock	$211,760	0.13%	726	$-1,543,684	Down ×4
AMGN Amgen Inc. - Common Stock	$209,058	0.13%	595		Up ×1
No matches

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security	Value	% of portfolio	Streak
IVV	$41,526,519	24.92%	up ×5
BSV	$12,786,281	7.67%	up ×3
BND	$12,462,392	7.48%	up ×3
AGG	$12,293,895	7.38%	up ×3
VTIP	$4,807,388	2.88%	up ×3
IJH	$3,904,315	2.34%	up ×5
IJR	$2,628,659	1.58%	up ×5

Biggest new bets

New positions opened this quarter, largest first.

Security	Value	Shares	% of portfolio
WHWK	$1,333,269	4,571	0.80%
KLAC	$220,862	150	0.13%
SYK	$218,167	665	0.13%
AMGN	$209,058	595	0.13%

Top movers (QoQ)

Security	Action	Shares Δ	Value Δ
MSFT	Bought more	+73	-$1.8M
LNT	Trimmed	-18K	-$1.2M
IVV	Bought more	+1K	-$1.1M
BND	Bought more	+15K	+$1.0M
BSV	Bought more	+13K	+$958K
AGG	Bought more	+10K	+$922K
WFC	Trimmed	-8K	-$794K
T	Trimmed	-28K	-$630K
XOM	Price move only	+0	+$436K
CVX	Trimmed	-440	+$402K

1 position hidden — reported move looks larger than the position itself (data completeness check)

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

Security	Quarter	Shares before	Value before	Price since exit
CASY	June 30, 2025	1,200	$520,848	20.9%
COP	March 31, 2026	3,787	$354,501	-1.6%
SYK	Dec. 31, 2025	745	$275,404	-20.2%
EMR	June 30, 2025	2,200	$241,208	22.8%
AVGO	Dec. 31, 2025	700	$230,937	9.3%
IBM	Dec. 31, 2025	779	$219,802	-24.8%
KMB	Dec. 31, 2025	1,635	$203,296	-4.1%
DNP	March 31, 2026	18,000	$179,820	-6.6%
COF	March 31, 2026	647	$156,807	8.4%
DOW	Dec. 31, 2025	3,807	$87,295	21.6%