Allied Investment Advisors, LLC

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 20, 2026), Allied Investment Advisors, LLC reported 110 stock positions worth $796.5 million. Its top holding was Schwab US DVD Equity ETF (SCHD) at 7.5% of the portfolio, followed by Vanguard Health Care ETF (VHT, 6.8%) and Microsoft (MSFT, 3.2%). Compared with Q1 2026, it opened 11 new positions, sold out of 2, added to 51 and reduced 21. The biggest buy was a new position in Vanguard Short-Term Bond ETF (BSV) and the biggest sale Caterpillar (CAT, shares −48%).

Most Recent 13F
Q2 2026
Location
BILLINGS, MT
CIK
0001729869
Portfolio Value
$796.5M (Q2 2026)
SEC Filing
0001729869-26-000004 ↗ filed Jul 20, 2026

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $414.2M Q1 2024 Q2 2024: $426.2M Q2 2024 Q3 2024: $504.9M Q3 2024 Q4 2024: $496.2M Q4 2024 Q1 2025: $527.4M Q1 2025 Q2 2025: $571.9M Q2 2025 Q3 2025: $628.3M Q3 2025 Q4 2025: $646.8M Q4 2025 Q1 2026: $697.4M Q1 2026 Q2 2026: $796.5M $796.5M Q2 2026

Holdings 110 stocks · $796.5M
SCHD Schwab US DVD Equity ETF 7.45% 1,871,398 $59.3M Add +3.0%
VHT Vanguard Health Care ETF 6.79% 180,940 $54.1M Add +5.4%
MSFT Microsoft Corp. 3.19% 68,125 $25.4M Add +3.0%
JPM JPMorgan Chase & Co. 2.90% 70,656 $23.1M Add +1.6%
CAT Caterpillar Inc. 2.69% 20,083 $21.4M Reduce -48.1%
BSV Vanguard Short-Term Bond ETF 2.68% 273,991 $21.3M New
STT State Street Corp. 2.61% 122,745 $20.8M Reduce -4.1%
GS Goldman Sachs Group Inc. 2.61% 20,549 $20.8M Reduce -1.1%
JNJ Johnson & Johnson 2.42% 75,978 $19.3M Add +2.0%
RTX RTX Corp. 2.41% 101,187 $19.2M Add +2.3%
DE Deere & Co. 2.40% 30,107 $19.1M Add +2.3%
BAC Bank of America Corp. 2.39% 334,060 $19.0M Add +2.3%
AAON Aaon Inc. 2.39% 149,761 $19.0M Reduce -6.4%
VPU Vanguard Utilities ETF 2.25% 91,546 $17.9M Add +2.2%
XOM Exxonmobil Holdings Corp. 2.20% 128,268 $17.5M Add +1.5%
WFC Wells Fargo & Co. 2.18% 209,957 $17.4M Add +3.6%
USB US Bancorp 2.12% 279,232 $16.9M Add +2.5%
SHEL Shell PLC-ADR 1.99% 204,343 $15.8M Add +2.1%
CVX Chevron Corp. 1.96% 93,947 $15.6M Add +2.4%
FDX FedEx Corp. 1.94% 49,256 $15.4M Add +0.5%
VGK Vanguard Ftse Europe ETF 1.91% 171,665 $15.2M Add +19.7%
TTE Totalenergies SE 1.88% 192,577 $15.0M Add +0.8%
MMM 3M Co. 1.84% 90,579 $14.7M Add +4.1%
LOW Lowe's Cos Inc. 1.84% 66,389 $14.6M Add +6.2%
SYY Sysco Corp. 1.81% 172,615 $14.4M Add +6.2%
AAPL Apple Inc. 1.73% 47,590 $13.8M Reduce -1.3%
TGT Target Corp. 1.72% 104,850 $13.7M Add +4.5%
PG The Procter & Gamble Co. 1.68% 91,467 $13.4M Add +7.3%
O Realty Income Corp. 1.68% 215,880 $13.4M Add +9.2%
AMRZ Amrize Ltd. 1.61% 240,449 $12.8M Add +9.2%
LMT Lockheed Martin Corp. 1.60% 24,963 $12.7M Add +4.3%
KMB Kimberly-Clark Corp. 1.57% 114,079 $12.5M Add +11.3%
VCSH Vanguard S/T Corp. Bond ETF 1.52% 153,415 $12.1M New
GPC Genuine Parts Co. 1.52% 102,470 $12.1M Add +13.0%
BIV Vanguard Intermediate-Term B 1.50% 155,473 $11.9M New
PEP Pepsico Inc. 1.47% 86,661 $11.7M Add +6.6%
MDT Medtronic PLC 1.46% 148,273 $11.6M Add +9.3%
ABT Abbott Laboratories 1.40% 123,081 $11.2M Add +16.9%
BA The Boeing Co. 1.38% 50,917 $11.0M Add +2676.3%
PFE Pfizer Inc. 1.36% 449,358 $10.8M Add +11.2%
OTIS Otis Worldwide Corp. 1.35% 150,535 $10.8M Add +13.2%
DEO Diageo PLC-Sponsored ADR 1.25% 123,872 $10.0M Add +9.2%
VTI VG Morningstar TS MKT ETF-US 1.02% 21,872 $8.1M Add +0.2%
PICK iShares MSCI Global Metals & 0.51% 70,114 $4.1M Reduce -0.4%
EMR Emerson Electric Co. 0.44% 24,226 $3.5M Reduce -8.0%
GLD SPDR Gold Shares 0.32% 6,957 $2.6M Add +5.0%
WMT Walmart Inc. 0.29% 20,284 $2.3M Reduce -1.2%
VTV Vanguard Mrngstr Val ETF-Aui 0.23% 8,449 $1.8M Add +2.8%
VGT Vanguard Info Tech ETF 0.23% 15,392 $1.8M No change
BRK.B Berkshire Hathaway Inc. Class B 0.23% 3,636 $1.8M Add +2.8%
NVDA Nvidia Corp. 0.22% 8,870 $1.8M Reduce -20.8%
BRK.A Berkshire Hathaway Inc. Class A 0.19% 2 $1.5M No change
NOBL Proshares S&P 500 Dividend A 0.18% 25,204 $1.4M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.18% 5,007 $1.4M Reduce -1.8%
GOOGL Alphabet Inc. Class A 0.17% 3,721 $1.3M No change
COST Costco Wholesale Corp. 0.16% 1,398 $1.3M No change
AVGO Broadcom Inc. 0.12% 2,539 $959K Reduce -13.6%
GBCI Glacier Bancorp Inc. 0.12% 18,577 $958K Add +0.3%
ECG Everus Construction Group 0.12% 5,656 $939K Add +0.9%
SPY SS SPDR S&P 500 ETF Trust-US 0.12% 1,247 $931K Reduce -2.0%
SPLV Invesco S&P 500 Low Volatili 0.11% 12,200 $914K No change
GOOG Alphabet Inc. Class C 0.11% 2,430 $859K Add +0.3%
AMD Advanced Micro Devices 0.11% 1,443 $838K No change
MRK Merck & Co. Inc. 0.10% 6,342 $815K Reduce -0.7%
AMZN Amazon.com Inc. 0.10% 3,223 $768K Reduce -0.8%
SBUX Starbucks Corp. 0.09% 7,117 $727K No change
FDXF FedEx Freight Holding Co. 0.09% 4,806 $726K Reduce -80.4%
EBMT Eagle Bancorp Montana Inc. 0.09% 29,669 $710K No change
HD Home Depot Inc. 0.09% 1,971 $695K No change
DFUS Dimensional US Eq MKT ETF 0.08% 7,752 $635K No change
ABBV Abbvie Inc. 0.07% 2,292 $577K No change
FIBK First Interstate Bancsys-A 0.07% 14,158 $546K Add +0.6%
CSCO Cisco Systems Inc. 0.07% 4,508 $530K Add +1.8%
C Citigroup Inc. 0.07% 3,732 $522K Add +0.5%
MDU Mdu Resources Group Inc. 0.06% 22,501 $477K Add +0.9%
SCHV Schwab US Large-Cap Value 0.05% 12,439 $433K Reduce -0.1%
STLD Steel Dynamics Inc. 0.05% 1,827 $419K No change
GLW Corning Inc. 0.05% 1,544 $394K No change
MGK Vngrd Mrgstr MG CP GR ETF-Ui 0.05% 4,436 $390K Add +20.9%
KNF Knife River Corp. 0.05% 4,621 $387K Add +1.1%
META Meta Platforms Inc. Class A 0.05% 677 $381K Reduce -41.1%
LLY Eli Lilly & Co. 0.05% 311 $374K Reduce -0.3%
MCK McKesson Corp. 0.05% 479 $362K No change
AXP American Express Co. 0.04% 989 $335K No change
IVV iShares Core S&P 500 ETF 0.04% 446 $334K Add +4.2%
MCD McDonald's Corp. 0.04% 1,116 $302K Reduce -18.3%
ORCL Oracle Corp. 0.04% 2,050 $300K No change
CSL Carlisle Cos Inc. 0.04% 820 $297K No change
CMI Cummins Inc. 0.04% 413 $295K No change
QQQ Invesco QQQ Trust Series 1 0.04% 396 $292K Reduce -16.1%
COP Conocophillips 0.04% 2,737 $285K No change
VIS Vanguard Industrials ETF 0.04% 778 $280K No change
IWM iShares Russell 2000 ETF 0.03% 908 $273K Reduce -4.2%
TSLA Tesla Inc. 0.03% 644 $271K New
UNH Unitedhealth Group Inc. 0.03% 612 $255K New
VFH Vanguard Financials ETF 0.03% 1,863 $245K No change
SCHW Schwab (charles) Corp. 0.03% 2,639 $244K No change
AGG iShares Core U.S. Aggregate 0.03% 2,449 $242K Add +6.1%
MLI Mueller Industries Inc. 0.03% 1,967 $242K No change
WPC WP Carey Inc. 0.03% 3,281 $235K No change

Show all 110 holdings

Portfolio Sells Q1 2026 → Q2 2026
CAT Caterpillar Inc. Reduce -48.1% 2.69% −1.25
FDXF FedEx Freight Holding Co. Reduce -80.4% 0.09% −0.44
WMT Walmart Inc. Reduce -1.2% 0.29% −0.08
PICK iShares MSCI Global Metals & Reduce -0.4% 0.51% −0.06
EMR Emerson Electric Co. Reduce -8.0% 0.44% −0.06
NVDA Nvidia Corp. Reduce -20.8% 0.22% −0.06
POWL Powell Industries Inc. Sold out 0.00% −0.05
META Meta Platforms Inc. Class A Reduce -41.1% 0.05% −0.05
FSLR First Solar Inc. Sold out 0.00% −0.03
AAPL Apple Inc. Reduce -1.3% 1.73% −0.03
MCD McDonald's Corp. Reduce -18.3% 0.04% −0.02
AVGO Broadcom Inc. Reduce -13.6% 0.12% −0.01
MRK Merck & Co. Inc. Reduce -0.7% 0.10% −0.01
QQQ Invesco QQQ Trust Series 1 Reduce -16.1% 0.04% −0.00
SPY SS SPDR S&P 500 ETF Trust-US Reduce -2.0% 0.12% −0.00
AMZN Amazon.com Inc. Reduce -0.8% 0.10% −0.00
IBM Intl Business Machines Corp. Reduce -1.8% 0.18% −0.00
SCHV Schwab US Large-Cap Value Reduce -0.1% 0.05% −0.00
IWM iShares Russell 2000 ETF Reduce -4.2% 0.03% +0.00
LLY Eli Lilly & Co. Reduce -0.3% 0.05% +0.01
GS Goldman Sachs Group Inc. Reduce -1.1% 2.61% +0.09
STT State Street Corp. Reduce -4.1% 2.61% +0.29
AAON Aaon Inc. Reduce -6.4% 2.39% +0.49

Portfolio Buys Q1 2026 → Q2 2026
BSV Vanguard Short-Term Bond ETF New 2.68% +2.68
VCSH Vanguard S/T Corp. Bond ETF New 1.52% +1.52
BIV Vanguard Intermediate-Term B New 1.50% +1.50
BA The Boeing Co. Add +2676.3% 1.38% +1.33
VGK Vanguard Ftse Europe ETF Add +19.7% 1.91% +0.21
KMB Kimberly-Clark Corp. Add +11.3% 1.57% +0.15
SYY Sysco Corp. Add +6.2% 1.81% +0.15
GPC Genuine Parts Co. Add +13.0% 1.52% +0.14
BAC Bank of America Corp. Add +2.3% 2.39% +0.11
VHT Vanguard Health Care ETF Add +5.4% 6.79% +0.09
USB US Bancorp Add +2.5% 2.12% +0.09
DEO Diageo PLC-Sponsored ADR Add +9.2% 1.25% +0.04
TSLA Tesla Inc. New 0.03% +0.03
UNH Unitedhealth Group Inc. New 0.03% +0.03
MMM 3M Co. Add +4.1% 1.84% +0.03
SPCX Space Exploration Techn Class A New 0.03% +0.03
DAL Delta Air Lines Inc. New 0.03% +0.03
BNY Bank of New York Mellon Corp. New 0.03% +0.03
ETN Eaton Corp. PLC New 0.03% +0.03
DFIV Dimensional International Va New 0.03% +0.03
MO Altria Group Inc. New 0.03% +0.03
ECG Everus Construction Group Add +0.9% 0.12% +0.02
DE Deere & Co. Add +2.3% 2.40% +0.02
CSCO Cisco Systems Inc. Add +1.8% 0.07% +0.02
VTI VG Morningstar TS MKT ETF-US Add +0.2% 1.02% +0.01
MGK Vngrd Mrgstr MG CP GR ETF-Ui Add +20.9% 0.05% +0.01
GOOG Alphabet Inc. Class C Add +0.3% 0.11% +0.01
C Citigroup Inc. Add +0.5% 0.07% +0.01
IVV iShares Core S&P 500 ETF Add +4.2% 0.04% +0.00
GBCI Glacier Bancorp Inc. Add +0.3% 0.12% +0.00
F Ford Motor Co. Add +0.8% 0.02% +0.00
FIBK First Interstate Bancsys-A Add +0.6% 0.07% +0.00
VTV Vanguard Mrngstr Val ETF-Aui Add +2.8% 0.23% 0.00
VTIP Vanguard Short-Term Tips Add +7.6% 0.03% −0.00
AGG iShares Core U.S. Aggregate Add +6.1% 0.03% −0.00
KNF Knife River Corp. Add +1.1% 0.05% −0.01
MDU Mdu Resources Group Inc. Add +0.9% 0.06% −0.01
BRK.B Berkshire Hathaway Inc. Class B Add +2.8% 0.23% −0.01
TGT Target Corp. Add +4.5% 1.72% −0.02
JPM JPMorgan Chase & Co. Add +1.6% 2.90% −0.03
O Realty Income Corp. Add +9.2% 1.68% −0.06
PG The Procter & Gamble Co. Add +7.3% 1.68% −0.08
GLD SPDR Gold Shares Add +5.0% 0.32% −0.09
OTIS Otis Worldwide Corp. Add +13.2% 1.35% −0.12
WFC Wells Fargo & Co. Add +3.6% 2.18% −0.14
ABT Abbott Laboratories Add +16.9% 1.40% −0.15
AMRZ Amrize Ltd. Add +9.2% 1.61% −0.16
JNJ Johnson & Johnson Add +2.0% 2.42% −0.19
MDT Medtronic PLC Add +9.3% 1.46% −0.23
PFE Pfizer Inc. Add +11.2% 1.36% −0.27

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 110$796.5MSCHD, VHT, MSFT, JPM, CAT
Q1 2026 100$697.4MSCHD, VHT, CAT, MSFT, XOM
Q4 2025 102$646.8MSCHD, VHT, MSFT, CAT, JPM
Q3 2025 97$628.3MSCHD, VHT, MSFT, JPM, CAT
Q2 2025 87$571.9MSCHD, VHT, MSFT, VPU, JPM
Q1 2025 86$527.4MSCHD, VHT, MSFT, VPU, JPM
Q4 2024 79$496.2MSCHD, VHT, MSFT, VPU, AAPL
Q3 2024 74$504.9MSCHD, VHT, MSFT, VPU, AAPL
Q2 2024 74$426.2MVHT, MSFT, VPU, AAPL, JPM
Q1 2024 70$414.2MVHT, MSFT, VPU, CAT, JPM