AMES NATIONAL CORP

CIK 0001132651 · Q1 2026

13F Equity AUM

$166.6M

-2.4% QoQ

Positions

+1 QoQ

AUM Rank

#8,142

Top 65%

Skill Alpha (FF)

—

Building track record (4q)

Quarters Tracked

~1 years

Portfolio Concentration

Top 5: 51.1%Top 10: 65.7%Top 20: 83.0%

IVV24.9%

BSV7.7%

BND7.5%

AGG7.4%

VXUS3.6%

MSFT3.5%

IWR3.2%

VTIP2.9%

AAPL2.7%

IWM2.4%

Others (57)34.3%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services73.6%

Technology7.2%

Healthcare4.1%

Consumer Cyclical3.1%

Communication Services2.7%

Industrials2.5%

Unclassified2.0%

Consumer Defensive2.0%

Other2.6%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 67Median: 0.41%Avg: 1.49%

0–0.5%

35(8.3%)

0.5–1%

11(7.6%)

1–3%

14(26.4%)

3–5%

3(10.3%)

5%+

4(47.5%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 66Unique: 1vs 20 funds

0.9%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

1.2%

BlackRock, Inc.

1.6%

BANK OF AMERICA CORP /DE/

1.4%

FMR LLC

2.2%

JPMORGAN CHASE & CO

1.3%

STATE STREET CORP

1.6%

VANGUARD CAPITAL MANAGEMENT LLC

1.5%

GEODE CAPITAL MANAGEMENT, LLC

1.4%

VANGUARD PORTFOLIO MANAGEMENT LLC

1.7%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New4Increased13Decreased31Exited3

New Positions

WHWK0.8%

+5K

KLAC0.1%

+150

AMGN0.1%

+595

SYK0.1%

+665

Increased

BND7.5%

+15K(+10%)

BSV7.7%

+13K(+9%)

AGG7.4%

+10K(+9%)

VTIP2.9%

+6K(+6%)

IJH2.3%

+2K(+4%)

IVV24.9%

+1K(+2%)

IJR1.6%

+870(+4%)

PFE0.3%

+709(+5%)

V0.4%

+142(+7%)

VOO0.4%

+78(+7%)

Decreased

T0.2%

-27,700(-66%)

LNT0.2%

-18,233(-81%)

ATLO0.8%

-12,000(-20%)

WFC0.1%

-8,000(-73%)

BAC0.2%

-6,094(-46%)

TRV0.1%

-5,326(-88%)

PFF0.2%

-2,225(-19%)

UNP0.6%

-1,430(-26%)

JNJ1.6%

-1,199(-10%)

NSC0.2%

-900(-41%)

Exited

COP

-3,787

DNP

-18,000

COF

-647

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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