Top Holdings by value as of 2025-09-30:

1. ISHARES TR - $1.6B (38%)
2. SPDR S&P 500 ETF TR - $397.5M (10%)
3. VANGUARD INDEX FDS - $358.4M (9%)
4. VANGUARD BD INDEX FDS - $109.7M (3%)
5. LOWES COS INC - $109.4M (3%)

When compared to holdings as of 2025-06-30:

New Positions:

• ARCBEST CORP
• BHP GROUP LTD
• CADENCE DESIGN SYSTEM INC
• COLUMBIA BKG SYS INC
• CUMMINS INC
• ... and 16 more

Closed Positions:

• BECTON DICKINSON & CO
• CONSTELLATION BRANDS INC
• COPART INC
• ENOVIX CORPORATION
• FACTSET RESH SYS INC
• ... and 10 more

Increase Position by 25% or more:

• BLACKROCK INC
• CELANESE CORP DEL
• GE VERNOVA INC
• HUMANA INC
• INTEL CORP
• ... and 14 more

Reduce Position by 25% or more:

• ABRDN PLATINUM ETF TRUST
• ACCENTURE PLC IRELAND
• AIR PRODS & CHEMS INC
• BRISTOL-MYERS SQUIBB CO
• BRITISH AMERN TOB PLC
• ... and 10 more

AMG National Trust Bank is headquartered in Greenwood Village, CO.

Source