AMES NATIONAL CORP
Long book
$166.6M
Q1 2026
Positions
67
Top-10 weight
66%
concentration
Last quarter
+9.9%
SPY +14.8%
Turnover
10%
of book per quarter
Strategy in plain words
auto-generated from filingsAMES NATIONAL CORP is a wealth-management firm allocating client money, running a $166.6M US long book across 67 positions.
The portfolio is concentrated: the top 10 names carry 66% of the portfolio. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: ISHARES CORE S&P 500 ETF, VANGUARD SHORT-TERM BOND ETF, VANGUARD TOTAL BOND MARKET, ISHARES CORE U.S. AGGREGATE, VANGUARD TOTAL INTL STOCK.
Over the last 6 quarters its long book ran on average 1pp per quarter behind the S&P 500, beating the index in 2 of 6 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q4 2024
-1.3%
Q1 2025
+6.0%
Q2 2025
+6.8%
Q3 2025
+1.8%
Q4 2025
-1.5%
Q1 2026
+9.9%
Sector allocation
Technology 34%
Financials 16%
Healthcare 13%
Consumer discretionary 13%
Energy 7%
Industrials 6%
Other 5%
Services media 2%
Long book by quarter
What does AMES NATIONAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| MSFT MICROSOFT CORP | Technology | 15.9K | $5.9M | 3.5% | +0.5% |
| AAPL APPLE INC | Technology | 17.7K | $4.5M | 2.7% | Held |
| GOOG ALPHABET INC-CL C | Technology | 9.5K | $2.7M | 1.6% | -1.4% |
| JNJ JOHNSON & JOHNSON | Healthcare | 11.1K | $2.7M | 1.6% | -9.8% |
| HD HOME DEPOT INC | Consumer discretionary | 7.9K | $2.6M | 1.5% | -2.6% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 4.7K | $2.2M | 1.3% | +0.6% |
| JPM JPMORGAN CHASE & CO | Financials | 7.4K | $2.2M | 1.3% | -4.2% |
| CVX CHEVRON CORP | Energy | 8.5K | $1.8M | 1.1% | -4.9% |
| XOM EXXON MOBIL CORP | Energy | 8.8K | $1.5M | 0.9% | Held |
| MCD MCDONALD'S CORP | Consumer discretionary | 4.5K | $1.4M | 0.8% | Held |
| WHWK WHITEHAWK THERAPEUTICS INC | Healthcare | 4.6K | $1.3M | 0.8% | New |
| ATLO AMES NATIONAL CORP | Financials | 46.6K | $1.3M | 0.8% | -20.5% |
| PG PROCTER & GAMBLE CO/THE | Other | 8.8K | $1.3M | 0.8% | -5.6% |
| ADP AUTOMATIC DATA PROCESSING | Technology | 5.7K | $1.2M | 0.7% | -4.5% |
| WMT WALMART INC | Consumer discretionary | 8.0K | $991K | 0.6% | -5.3% |
| UNP UNION PACIFIC CORP | Industrials | 4.1K | $983K | 0.6% | -25.9% |
| CSCO CISCO SYSTEMS INC | Technology | 12.6K | $978K | 0.6% | Held |
| MRK MERCK & CO. INC. | Healthcare | 7.9K | $944K | 0.6% | -3.1% |
| CASY CASEY'S GENERAL STORES INC | Consumer discretionary | 1.2K | $873K | 0.5% | Held |
| GOOGL ALPHABET INC-CL A | Technology | 2.9K | $820K | 0.5% | Held |
| V VISA INC-CLASS A SHARES | Services media | 2.1K | $628K | 0.4% | +7.3% |
| GD GENERAL DYNAMICS CORP | Industrials | 1.8K | $605K | 0.4% | Held |
| BLK BLACKROCK INC | Financials | 564 | $542K | 0.3% | -8.1% |
| PPG PPG INDUSTRIES INC | Other | 4.6K | $488K | 0.3% | Held |
| PEP PEPSICO INC | Consumer staples | 3.0K | $469K | 0.3% | -0.2% |
| BX BLACKSTONE INC | Financials | 3.9K | $448K | 0.3% | Held |
| PFE PFIZER INC | Healthcare | 15.9K | $447K | 0.3% | +4.7% |
| QCOM QUALCOMM INC | Technology | 3.4K | $440K | 0.3% | Held |
| RTX RTX CORP | Industrials | 2.2K | $430K | 0.3% | Held |
| UNH UNITEDHEALTH GROUP INC | Financials | 1.5K | $410K | 0.2% | -2.1% |
| T AT&T INC | Communications | 14.0K | $407K | 0.2% | -66.4% |
| AFL AFLAC INC | Financials | 3.7K | $405K | 0.2% | -5.0% |
| DE DEERE & CO | Industrials | 663 | $374K | 0.2% | +2.8% |
| APD AIR PRODUCTS & CHEMICALS INC | Materials | 1.3K | $373K | 0.2% | Held |
| NSC NORFOLK SOUTHERN CORP | Industrials | 1.3K | $368K | 0.2% | -40.9% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 7.2K | $360K | 0.2% | -46.0% |
| KO COCA-COLA CO/THE | Consumer staples | 4.6K | $350K | 0.2% | -4.2% |
| SYY SYSCO CORP | Consumer discretionary | 4.7K | $337K | 0.2% | -3.5% |
| ABBV ABBVIE INC | Healthcare | 1.5K | $311K | 0.2% | Held |
| LNT ALLIANT ENERGY CORP | Utilities | 4.2K | $300K | 0.2% | -81.3% |
| NKE NIKE INC -CL B | Other | 5.5K | $290K | 0.2% | -10.2% |
| CAT CATERPILLAR INC | Industrials | 383 | $271K | 0.2% | Held |
| DIS WALT DISNEY CO/THE | Services media | 2.5K | $243K | 0.1% | -1.9% |
| ABT ABBOTT LABORATORIES | Healthcare | 2.3K | $240K | 0.1% | Held |
| WFC WELLS FARGO & CO | Financials | 3.0K | $232K | 0.1% | -72.7% |
| KLAC KLA CORP | Other | 150 | $221K | 0.1% | New |
| SYK STRYKER CORP | Healthcare | 665 | $218K | 0.1% | New |
| TRV TRAVELERS COS INC/THE | Financials | 726 | $212K | 0.1% | -88.0% |
| AMGN AMGEN INC | Healthcare | 595 | $209K | 0.1% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 12, 2026 | 120 | $166.6M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 124 | $170.8M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 128 | $168.4M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 12, 2025 | 123 | $154.6M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 6, 2025 | 115 | $149.0M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 18, 2025 | 121 | $148.5M | canonical | SEC ↗ |