CITIZENS & NORTHERN CORP

Citizens & Northern Corp's $401.0 million Q1 2026 book (down 0.6% from $403.6 million) shows a clear split: growth names got cheaper, and this filer bought more of them anyway. Microsoft (MSFT) shares grew 4.8% even as the position's dollar value fell 19.8% to $11.0 million on price weakness; Salesforce (CRM) shares grew 5.7% while its dollar value fell 25.5%; Vanguard Russell 1000 Growth ETF (VONG), the fund's largest holding at 10.5% of assets, grew 4.6% in shares even as its value fell 5.8%. On the other side, value and resource names rallied hard: iShares North American Natural Resources ETF (IGE) gained $4.8 million (+19.6%) — the single largest dollar swing in the entire filing — even after a real 4.6% share trim, while Exxon Mobil (XOM) gained 39.7% in dollar value on a flat share count, Corning (GLW) gained 40.5% despite a real 9.6% share cut, and Caterpillar (CAT) grew in both shares (+6.5%) and dollar value (+31.7%). New positions opened in SLB (formerly Schlumberger), Emerson Electric (EMR), NextEra Energy (NEE), Eaton Corp, and Medtronic, while Abbott Labs (ABT), Norfolk Southern (NSC), KKR & Co, PayPal (PYPL), and American Tower (AMT) were sold outright. The book also carries a notable local-bank-trust signature: it holds $8.0 million of its own parent company's stock, Citizens & Northern Corp (CZNC), alongside $7.2 million of Citizens Financial Services (CZFS), a separate community bank.