CIK: 0001132651
Total reported value
$166.6M
Reporting period: 2026-03-31 · Number of holdings: 120
AMES NATIONAL CORP disclosed 120 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $166.6M and a quarterly turnover rate of 11.4%.
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Ames National CORP's disclosed holdings carry a Herfindahl concentration index of 0.089 — mathematically equivalent to about 11 equally-sized positions, well below its 120 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.24), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 4.2 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 28% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim MSFT
+0.5% -$1.8M
Trim TRV
-88.0% -$1.5M
Add BND
+9.6% $1.0M
Add BSV
+8.7% $958.0K
Add AGG
+8.8% $921.8K
Trim LNT
-81.3% -$1.2M
Showing top 67 holdings (of 120 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 24.92% | -0.04% | +2.12% | |
| 2 | BSV | Vanguard Short-term Bond ETF | ETF-Other | 7.67% | +0.74% | +8.65% | |
| 3 | BND | Vanguard Total Bond Market | ETF-Other | 7.48% | +0.79% | +9.63% | |
| 4 | AGG | Ishares Core U.s. Aggregate | ETF-Other | 7.38% | +0.72% | +8.77% | |
| 5 | VXUS | Vanguard Total Intl Stock | ETF-Other | 3.62% | +0.15% | -0.60% | |
| 6 | MSFT | Microsoft CORP | Stock-Tech | 3.52% | -0.95% | +0.46% | |
| 7 | IWR | Ishares Russell Mid-cap ETF | ETF-Other | 3.17% | — | -1.36% | |
| 8 | VTIP | Vanguard Short-term Tips | ETF-Other | 2.88% | +0.26% | +6.27% | |
| 9 | AAPL | Apple INC | Stock-Tech | 2.69% | -0.12% | — | |
| 10 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 2.37% | — | -1.25% | |
| 11 | IJH | Ishares Core S&p Midcap ETF | ETF-Other | 2.34% | +0.20% | +4.45% | |
| 12 | ✓ | Goeppinger Enterprises INC | Stock-Other | 2.05% | — | — | |
| 13 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 1.96% | -0.05% | -0.60% | |
| 14 | XLK | Ss Technology Select Sector | ETF-Tech | 1.95% | -0.11% | — | |
| 15 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.64% | -0.14% | -1.45% | |
| 16 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.63% | +0.14% | -9.75% | |
| 17 | IJR | Ishares Core S&p Small-cap E | ETF-Small Cap | 1.58% | +0.15% | +4.29% | |
| 18 | HD | Home Depot INC | Stock-Consumer Disc | 1.55% | -0.08% | -2.55% | |
| 19 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.34% | -0.04% | +0.64% | |
| 20 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.30% | -0.16% | -4.20% | |
| 21 | CVX | Chevron CORP | Stock-Energy | 1.06% | +0.26% | -4.93% | |
| 22 | XOM | Exxon Mobil CORP | Stock-Energy | 0.89% | +0.27% | — | |
| 23 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.83% | — | — | |
| 24 | WHWK | Whitehawk Therapeutics INC | Stock-Other | 0.80% | +0.80% | NEW | |
| 25 | ATLO | Ames National CORP | Stock-Other | 0.79% | — | -20.49% | |
| 26 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.76% | -0.02% | -5.64% | |
| 27 | ADP | Automatic Data Processing | Stock-Tech | 0.69% | -0.21% | -4.54% | |
| 28 | WMT | Walmart INC | Stock-Consumer Staples | 0.59% | +0.04% | -5.34% | |
| 29 | UNP | Union Pacific CORP | Stock-Industrials | 0.59% | -0.16% | -25.94% | |
| 30 | CSCO | Cisco Systems INC | Stock-Tech | 0.59% | — | — | |
| 31 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.57% | +0.07% | -3.08% | |
| 32 | CASY | Casey's General Stores INC | Stock-Consumer Disc | 0.52% | +0.13% | — | |
| 33 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.49% | -0.03% | — | |
| 34 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 0.41% | — | +7.29% | |
| 35 | V | Visa Inc-class A Shares | Stock-Financials | 0.38% | -0.02% | +7.32% | |
| 36 | GD | General Dynamics CORP | Stock-Industrials | 0.36% | — | — | |
| 37 | VYM | Vanguard High Dvd Yield ETF | ETF-Other | 0.35% | — | — | |
| 38 | BLK | Blackrock INC | Stock-Financials | 0.33% | -0.05% | -8.14% | |
| 39 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.32% | -0.03% | -5.69% | |
| 40 | PPG | Ppg Industries INC | Stock-Materials | 0.29% | — | — | |
| 41 | PEP | Pepsico INC | Stock-Consumer Staples | 0.28% | — | -0.17% | |
| 42 | BX | Blackstone INC | Stock-Financials | 0.27% | -0.08% | — | |
| 43 | PFE | Pfizer INC | Stock-Healthcare | 0.27% | +0.05% | +4.65% | |
| 44 | QCOM | Qualcomm INC | Stock-Tech | 0.26% | -0.08% | — | |
| 45 | RTX | Rtx CORP | Stock-Industrials | 0.26% | — | — | |
| 46 | UNH | Unitedhealth Group INC | Stock-Healthcare | 0.25% | -0.05% | -2.13% | |
| 47 | T | At&t INC | Stock-Comm Services | 0.24% | -0.37% | -66.37% | |
| 48 | AFL | Aflac INC | Stock-Financials | 0.24% | — | -5.02% | |
| 49 | DE | Deere & Co | Stock-Industrials | 0.22% | +0.04% | +2.79% | |
| 50 | APD | Air Products & Chemicals INC | Stock-Materials | 0.22% | +0.03% | — |
Performance for Q3 2026
+2.6%
Performance Last 4 Quarters
+16.4%
Based on 57% of reported portfolio value with available pricing
Ames National CORP's most significant position changes for 2026-03-31: New buy: Whitehawk Therapeutics INC (WHWK); Sold out: Conocophillips (COP); New buy: Kla CORP (KLAC); New buy: Stryker CORP (SYK); New buy: Amgen INC (AMGN).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | BND | Vanguard Total Bond Market | +0.8% | +9.63% | Add |
| 2 | BSV | Vanguard Short-term Bond ETF | +0.7% | +8.65% | Add |
| 3 | AGG | Ishares Core U.s. Aggregate | +0.7% | +8.77% | Add |
| 4 | XOM | Exxon Mobil CORP | +0.3% | — | Unchanged |
| 5 | CVX | Chevron CORP | +0.3% | -4.93% | Trim |
| 6 | VTIP | Vanguard Short-term Tips | +0.3% | +6.27% | Add |
| 7 | IJH | Ishares Core S&p Midcap ETF | +0.2% | +4.45% | Add |
| 8 | IJR | Ishares Core S&p Small-cap E | +0.2% | +4.29% | Add |
| 9 | VXUS | Vanguard Total Intl Stock | +0.2% | -0.60% | Trim |
| 10 | JNJ | Johnson & Johnson | +0.1% | -9.75% | Trim |
| 11 | CASY | Casey's General Stores INC | +0.1% | — | Unchanged |
| 12 | MRK | Merck & Co. INC. | +0.1% | -3.08% | Trim |
| 13 | PFE | Pfizer INC | +0.1% | +4.65% | Add |
| 14 | DE | Deere & Co | 0% | +2.79% | Add |
| 15 | WMT | Walmart INC | 0% | -5.34% | Trim |
| 16 | APD | Air Products & Chemicals INC | 0% | — | Unchanged |
| 17 | PG | Procter & Gamble Co/the | 0% | -5.64% | Trim |
| 18 | V | Visa Inc-class A Shares | 0% | +7.32% | Add |
| 19 | GOOGL | Alphabet Inc-cl A | 0% | — | Unchanged |
| 20 | SPY | Ss Spdr S&p 500 ETF Trust-us | 0% | -5.69% | Trim |
| 21 | IVV | Ishares Core S&p 500 ETF | 0% | +2.12% | Add |
| 22 | BRK-B | Berkshire Hathaway Inc-cl B | 0% | +0.64% | Add |
| 23 | PFF | Ishares Preferred & Income S | 0% | -19.14% | Trim |
| 24 | VTI | Vanguard Total Stock Mkt ETF | -0.1% | -0.60% | Trim |
| 25 | BLK | Blackrock INC | -0.1% | -8.14% | Trim |
| 26 | UNH | Unitedhealth Group INC | -0.1% | -2.13% | Trim |
| 27 | NKE | Nike INC -cl B | -0.1% | -10.15% | Trim |
| 28 | HD | Home Depot INC | -0.1% | -2.55% | Trim |
| 29 | BX | Blackstone INC | -0.1% | — | Unchanged |
| 30 | QCOM | Qualcomm INC | -0.1% | — | Unchanged |
| 31 | VZ | Verizon Communications INC | -0.1% | -45.97% | Trim |
| 32 | XLK | Ss Technology Select Sector | -0.1% | — | Unchanged |
| 33 | AAPL | Apple INC | -0.1% | — | Unchanged |
| 34 | GOOG | Alphabet Inc-cl C | -0.1% | -1.45% | Trim |
| 35 | NSC | Norfolk Southern CORP | -0.2% | -40.91% | Trim |
| 36 | JPM | Jpmorgan Chase & Co | -0.2% | -4.20% | Trim |
| 37 | UNP | Union Pacific CORP | -0.2% | -25.94% | Trim |
| 38 | ADP | Automatic Data Processing | -0.2% | -4.54% | Trim |
| 39 | T | At&t INC | -0.4% | -66.37% | Trim |
| 40 | WFC | Wells Fargo & Co | -0.5% | -72.73% | Trim |
| 41 | LNT | Alliant Energy CORP | -0.7% | -81.33% | Trim |
| 42 | TRV | Travelers Cos Inc/the | -0.9% | -88.00% | Trim |
| 43 | MSFT | Microsoft CORP | -1% | +0.46% | Add |
| 44 | WHWK | Whitehawk Therapeutics INC | — | NEW | New buy |
| 45 | COP | Conocophillips | — | EXIT | Sold out |
| 46 | KLAC | Kla CORP | — | NEW | New buy |
| 47 | SYK | Stryker CORP | — | NEW | New buy |
| 48 | AMGN | Amgen INC | — | NEW | New buy |
| 49 | DNP | Dnp Select Income Fund INC | — | EXIT | Sold out |
| 50 | COF | Capital One Financial CORP | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-12 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-13 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-12 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-12 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-06 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-18 | 13F-HR | View on EDGAR |
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