Allied Investment Advisors, LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 8, 2025), Allied Investment Advisors, LLC reported 86 stock positions worth $527.4 million. Its top holding was Schwab US DVD Equity ETF (SCHD) at 8.1% of the portfolio, followed by Vanguard Health Care ETF (VHT, 7.4%) and Microsoft (MSFT, 4.4%). Compared with Q4 2024, it opened 9 new positions, sold out of 2, added to 41 and reduced 15. The biggest buy was a new position in Genuine Parts (GPC) and the biggest sale Apple (AAPL, shares −39%).

Most Recent 13F
Q2 2026
Location
BILLINGS, MT
CIK
0001729869
Portfolio Value
$527.4M (Q1 2025)
SEC Filing
0001729869-25-000004 ↗ filed Apr 8, 2025

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 $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 Q2 2026

Holdings 86 stocks · $527.4M
SCHD Schwab US DVD Equity ETF 8.12% 1,531,316 $42.8M Add +5.3%
VHT Vanguard Health Care ETF 7.35% 146,529 $38.8M Add +6.9%
MSFT Microsoft Corp. 4.44% 62,412 $23.4M Add +2.1%
VPU Vanguard Utilities ETF 4.44% 137,094 $23.4M Add +4.4%
JPM JPMorgan Chase & Co. 3.26% 70,153 $17.2M Add +0.9%
CAT Caterpillar Inc. 2.69% 42,984 $14.2M Add +2.9%
WFC Wells Fargo & Co. 2.69% 197,419 $14.2M Reduce -0.4%
RTX RTX Corp. 2.65% 105,654 $14.0M Add +2.9%
XOM Exxon Mobil Corp. 2.60% 115,323 $13.7M Add +6.3%
SHEL Shell PLC-ADR 2.52% 181,627 $13.3M Add +4.6%
CVX Chevron Corp. 2.52% 79,380 $13.3M Add +4.3%
LOW Lowe's Cos Inc. 2.44% 55,228 $12.9M Add +4.9%
BAC Bank of America Corp. filed as BANK AMERICA CORP 2.43% 307,498 $12.8M Add +4.4%
DE Deere & Co. 2.39% 26,875 $12.6M Add +2.0%
GS Goldman Sachs Group Inc. 2.29% 22,105 $12.1M Add +1.0%
ABT Abbott Laboratories 2.27% 90,070 $11.9M Add +4.0%
MMM 3M Co. 2.25% 80,943 $11.9M Add +2.8%
JNJ Johnson & Johnson 2.17% 68,905 $11.4M Add +10.3%
AAPL Apple Inc. 2.15% 51,170 $11.4M Reduce -38.9%
EMR Emerson Electric Co. 2.15% 103,625 $11.4M Add +3.2%
OTIS Otis Worldwide Corp. 2.14% 109,330 $11.3M Add +6.0%
PG The Procter & Gamble Co. 2.13% 65,898 $11.2M Add +6.0%
STT State Street Corp. 2.06% 121,128 $10.8M Add +3.3%
TTE Totalenergies SE -Spon ADR 2.01% 164,047 $10.6M Add +5.0%
FDX FedEx Corp. 2.01% 43,445 $10.6M Add +6.5%
KMB Kimberly-Clark Corp. 2.00% 74,179 $10.5M Add +6.6%
MDT Medtronic PLC 1.97% 115,412 $10.4M Add +8.5%
SYY Sysco Corp. 1.96% 137,864 $10.3M Add +9.2%
USB US Bancorp 1.88% 234,965 $9.9M Add +4.9%
PEP Pepsico Inc. 1.82% 63,865 $9.6M Add +13.8%
LMT Lockheed Martin Corp. 1.74% 20,544 $9.2M Add +9.8%
AAON Aaon Inc. 1.71% 115,411 $9.0M Reduce -6.9%
GPC Genuine Parts Co. 1.51% 66,805 $8.0M New
DEO Diageo PLC-Sponsored ADR 1.49% 74,829 $7.8M Add +17.7%
PFE Pfizer Inc. 1.46% 303,884 $7.7M Add +15.7%
TGT Target Corp. 1.38% 69,561 $7.3M Add +14.1%
VTI VG Morningstar TS MKT ETF-US 0.77% 14,854 $4.1M New
VGK Vanguard Ftse Europe ETF 0.74% 55,661 $3.9M Add +249.4%
BRK.B Berkshire Hathaway Inc. Class B 0.38% 3,798 $2.0M No change
GLD SPDR Gold Shares 0.34% 6,185 $1.8M New
WMT Walmart Inc. 0.32% 19,163 $1.7M Add +0.8%
NOBL Proshares S&P 500 Dividend A 0.32% 16,265 $1.7M Add +0.4%
BRK.A Berkshire Hathaway Inc. Class A 0.30% 2 $1.6M No change
COST Costco Wholesale Corp. 0.27% 1,532 $1.4M Reduce -9.7%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.24% 5,128 $1.3M Reduce -5.1%
VGT Vanguard Info Tech ETF 0.22% 2,187 $1.2M No change
PICK iShares MSCI Global Metals & 0.22% 32,427 $1.2M New
SPLV Invesco S&P 500 Low Volatili 0.17% 12,200 $912K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.13% 4,021 $695K Add +127.4%
HD Home Depot Inc. 0.13% 1,895 $694K No change
SBUX Starbucks Corp. 0.13% 6,992 $686K No change
GBCI Glacier Bancorp Inc. 0.12% 14,831 $656K Reduce -3.3%
SPY SS SPDR S&P 500 ETF Trust-US 0.12% 1,152 $644K Add +23.3%
MRK Merck & Co. Inc. 0.12% 7,069 $635K Reduce -30.7%
GOOGL Alphabet Inc. Class A 0.11% 3,701 $572K Add +2.8%
NVDA Nvidia Corp. 0.10% 5,090 $552K Add +9.3%
DFUS Dimensional US Eq MKT ETF 0.09% 7,752 $469K No change
AMZN Amazon.com Inc. 0.09% 2,434 $463K Add +1.3%
VFH Vanguard Financials ETF 0.09% 3,830 $458K No change
KNF Knife River Corp. 0.08% 4,516 $407K Reduce -0.7%
MCD McDonald's Corp. 0.08% 1,277 $399K No change
ABBV Abbvie Inc. 0.07% 1,840 $386K No change
MDU Mdu Resources Group Inc. 0.07% 22,069 $373K Reduce -0.6%
FIBK First Interstate Bancsys-A 0.07% 12,699 $364K Reduce -5.8%
IVV iShares Core S&P 500 ETF 0.07% 627 $352K Reduce -5.4%
COP Conocophillips 0.06% 3,146 $330K New
SCHV Schwab US Large-Cap Value 0.06% 12,182 $324K Add +0.2%
BA The Boeing Co. 0.06% 1,884 $321K Reduce -2.9%
SPMD SS SPDR P S&P 400 Midcap ETF 0.06% 5,714 $292K New
SPDW Ste STR SPDR PT DW Eu ETF 0.05% 7,916 $288K New
ORCL Oracle Corp. 0.05% 2,050 $287K Reduce -1.3%
META Meta Platforms Inc. Class A 0.05% 489 $282K No change
CSL Carlisle Cos Inc. 0.05% 820 $279K No change
AXP American Express Co. 0.05% 989 $266K No change
VIS Vanguard Industrials ETF 0.05% 1,063 $263K No change
C Citigroup Inc. 0.05% 3,552 $252K Reduce -0.4%
ADP Automatic Data Processing 0.05% 800 $244K No change
SPYM Ste STR SPDR PT S&P 500 ETF 0.04% 3,496 $230K New
ECL Ecolab Inc. 0.04% 903 $229K No change
IJJ iShares S&P Mid-Cap 400 Valu 0.04% 1,909 $229K No change
AGG iShares Core U.S. Aggregate 0.04% 2,269 $224K Reduce -3.5%
LLY Eli Lilly & Co. 0.04% 270 $223K No change
ECG Everus Construction Group 0.04% 5,549 $206K No change
F Ford Motor Co. filed as FORD MTR CO 0.02% 12,330 $124K New
GERN Geron Corp. 0.01% 20,959 $33K No change
RYVYL INC 0.00% 14,684 $15K No change

Portfolio Sells Q4 2024 → Q1 2025
AAPL Apple Inc. Reduce -38.9% 2.15% −2.07
AAON Aaon Inc. Reduce -6.9% 1.71% −1.23
WFC Wells Fargo & Co. Reduce -0.4% 2.69% −0.12
EBMT Eagle Bancorp Montana Inc. Sold out 0.00% −0.11
MRK Merck & Co. Inc. Reduce -30.7% 0.12% −0.08
GOOG Alphabet Inc. Class C Sold out 0.00% −0.05
COST Costco Wholesale Corp. Reduce -9.7% 0.27% −0.04
GBCI Glacier Bancorp Inc. Reduce -3.3% 0.12% −0.03
FIBK First Interstate Bancsys-A Reduce -5.8% 0.07% −0.02
KNF Knife River Corp. Reduce -0.7% 0.08% −0.02
ORCL Oracle Corp. Reduce -1.3% 0.05% −0.02
IVV iShares Core S&P 500 ETF Reduce -5.4% 0.07% −0.01
MDU Mdu Resources Group Inc. Reduce -0.6% 0.07% −0.01
BA The Boeing Co. Reduce -2.9% 0.06% −0.01
AGG iShares Core U.S. Aggregate Reduce -3.5% 0.04% −0.00
C Citigroup Inc. Reduce -0.4% 0.05% −0.00
IBM Intl Business Machines Corp. Reduce -5.1% 0.24% +0.00

Portfolio Buys Q4 2024 → Q1 2025
GPC Genuine Parts Co. New 1.51% +1.51
VTI VG Morningstar TS MKT ETF-US New 0.77% +0.77
VGK Vanguard Ftse Europe ETF Add +249.4% 0.74% +0.54
JNJ Johnson & Johnson Add +10.3% 2.17% +0.35
VHT Vanguard Health Care ETF Add +6.9% 7.35% +0.34
GLD SPDR Gold Shares New 0.34% +0.34
SHEL Shell PLC-ADR Add +4.6% 2.52% +0.33
TTE Totalenergies SE -Spon ADR Add +5.0% 2.01% +0.30
CVX Chevron Corp. Add +4.3% 2.52% +0.30
ABT Abbott Laboratories Add +4.0% 2.27% +0.29
RTX RTX Corp. Add +2.9% 2.65% +0.26
MDT Medtronic PLC Add +8.5% 1.97% +0.25
XOM Exxon Mobil Corp. Add +6.3% 2.60% +0.25
PICK iShares MSCI Global Metals & New 0.22% +0.22
OTIS Otis Worldwide Corp. Add +6.0% 2.14% +0.21
MMM 3M Co. Add +2.8% 2.25% +0.20
KMB Kimberly-Clark Corp. Add +6.6% 2.00% +0.16
DE Deere & Co. Add +2.0% 2.39% +0.14
VPU Vanguard Utilities ETF Add +4.4% 4.44% +0.12
SCHD Schwab US DVD Equity ETF Add +5.3% 8.12% +0.11
PEP Pepsico Inc. Add +13.8% 1.82% +0.10
VTV Vanguard Mrngstr Val ETF-Aui Add +127.4% 0.13% +0.07
COP Conocophillips New 0.06% +0.06
SPMD SS SPDR P S&P 400 Midcap ETF New 0.06% +0.06
PFE Pfizer Inc. Add +15.7% 1.46% +0.06
SPDW Ste STR SPDR PT DW Eu ETF New 0.05% +0.05
SPYM Ste STR SPDR PT S&P 500 ETF New 0.04% +0.04
PG The Procter & Gamble Co. Add +6.0% 2.13% +0.03
F Ford Motor Co. New 0.02% +0.02
SYY Sysco Corp. Add +9.2% 1.96% +0.02
SPY SS SPDR S&P 500 ETF Trust-US Add +23.3% 0.12% +0.01
SCHV Schwab US Large-Cap Value Add +0.2% 0.06% −0.00
NOBL Proshares S&P 500 Dividend A Add +0.4% 0.32% −0.01
AMZN Amazon.com Inc. Add +1.3% 0.09% −0.02
NVDA Nvidia Corp. Add +9.3% 0.10% −0.02
WMT Walmart Inc. Add +0.8% 0.32% −0.03
GOOGL Alphabet Inc. Class A Add +2.8% 0.11% −0.03
LMT Lockheed Martin Corp. Add +9.8% 1.74% −0.09
JPM JPMorgan Chase & Co. Add +0.9% 3.26% −0.10
DEO Diageo PLC-Sponsored ADR Add +17.7% 1.49% −0.14
BAC Bank of America Corp. Add +4.4% 2.43% −0.17
LOW Lowe's Cos Inc. Add +4.9% 2.44% −0.18
GS Goldman Sachs Group Inc. Add +1.0% 2.29% −0.24
STT State Street Corp. Add +3.3% 2.06% −0.26
USB US Bancorp Add +4.9% 1.88% −0.28
TGT Target Corp. Add +14.1% 1.38% −0.28
FDX FedEx Corp. Add +6.5% 2.01% −0.31
EMR Emerson Electric Co. Add +3.2% 2.15% −0.35
CAT Caterpillar Inc. Add +2.9% 2.69% −0.37
MSFT Microsoft Corp. Add +2.1% 4.44% −0.75

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