American National Bank & Trust Investment Activity in Q2 2026

As part of its investment strategy for American National Bank & Trust, there were observable shifts in portfolio holdings during the period leading up to Q2 2026. The bank's portfolio, valued at approximately $1.17 billion as of June 30th, saw changes primarily concentrated within specific sectors and through ETF investments.

Purchases This Quarter

American National Bank & Trust demonstrated active buying behavior this quarter, adding new positions or increasing existing ones significantly. Notable purchases include:

• Goldman Sachs Physical Gold Etf Trust (AAAU), a newly acquired holding representing about 0.74% of the portfolio.
• Abrdn Bloomberg All Cmdty Lngr Dated Strat K-1 Fr Blmbr Al Cm Ln D Sy K 1 Etf (BCD), another new position accounting for roughly 0.85% of the portfolio.

Additionally, existing positions saw substantial increases:

• Goldman Sachs Etf Trust Nasdaq-100 Premium Income (GPIQ), which experienced a significant share increase of over 105%.
• Shares in KLA-Tencor Corp Common (KLAC) increased by more than 876%, reflecting strong confidence in this Technology stock.
• Goldman Sachs Activebeta International Equity Etf (GSIE) saw a notable increase, aligning with the bank's interest in international equities through active management.
• The GS ActiveBeta US Small Cap fund (GSSC) also increased its position significantly during this period.

Sales and Decreases This Quarter

Conversely, American National Bank & Trust reduced positions in several holdings during Q2:

• Goldman Sachs Etf Trust Nasdaq-100 Premium Income (GPIQ) also saw a decrease, indicating a complex change for this ETF.
• The bank exited its position in Intuit Common (INTU) entirely, with shares reduced by nearly 90%.
• Shares of Verizon Communications Com (VZ) decreased significantly during the quarter.

The portfolio also experienced reductions in other areas:

• Goldman Sachs Activebeta Em Mkts Equity Etf (GEM) saw a decrease, though it was not as drastic as some others.
• The bank sold shares of Medtronic Plc (MDT) during the quarter.
• Shares in Vanguard Mid-cap Index Fund (VO) increased significantly, but this was an increase rather than a decrease/sale.

Overall Portfolio Changes and Structure

The changes observed reflect adjustments within American National Bank & Trust's investment framework. The portfolio maintained its Technology focus with allocations to major players like Apple (AAPL), Microsoft (MSFT), and Alphabet Inc. (GOOGL). Holdings in Communication Services, Consumer Cyclical, Healthcare, and Financial Services also feature prominently.

The bank's portfolio includes a variety of instruments beyond individual stocks, featuring ETFs like GSIE and GSSC for diversified exposure. The total number of holdings remained substantial at 623 as of the reporting date.