Allied Investment Advisors, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 31, 2025), Allied Investment Advisors, LLC reported 87 stock positions worth $571.9 million. Its top holding was Schwab US DVD Equity ETF (SCHD) at 7.6% of the portfolio, followed by Vanguard Health Care ETF (VHT, 6.7%) and Microsoft (MSFT, 5.4%). Compared with Q1 2025, it opened 5 new positions, sold out of 4, added to 43 and reduced 17. The biggest buy was Aaon (AAON, shares +111%) and the biggest sale Apple (AAPL, shares −1%).

Most Recent 13F
Q2 2026
Location
BILLINGS, MT
CIK
0001729869
Portfolio Value
$571.9M (Q2 2025)
SEC Filing
0001729869-25-000006 ↗ filed Jul 31, 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 Q1 2025 Q2 2025: $571.9M $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 87 stocks · $571.9M
SCHD Schwab US DVD Equity ETF 7.56% 1,632,590 $43.3M Add +6.6%
VHT Vanguard Health Care ETF 6.73% 154,915 $38.5M Add +5.7%
MSFT Microsoft Corp. 5.42% 62,277 $31.0M Reduce -0.2%
VPU Vanguard Utilities ETF 4.28% 138,765 $24.5M Add +1.2%
JPM JPMorgan Chase & Co. 3.52% 69,418 $20.1M Reduce -1.1%
AAON Aaon Inc. 3.13% 242,984 $17.9M Add +110.5%
CAT Caterpillar Inc. 2.97% 43,731 $17.0M Add +1.7%
WFC Wells Fargo & Co. 2.75% 196,443 $15.7M Reduce -0.5%
GS Goldman Sachs Group Inc. 2.74% 22,176 $15.7M Add +0.3%
RTX RTX Corp. 2.66% 104,349 $15.2M Reduce -1.2%
BAC Bank of America Corp. filed as BANK AMERICA CORP 2.57% 310,436 $14.7M Add +1.0%
EMR Emerson Electric Co. 2.45% 105,167 $14.0M Add +1.5%
DE Deere & Co. 2.43% 27,369 $13.9M Add +1.8%
STT State Street Corp. 2.31% 124,385 $13.2M Add +2.7%
SHEL Shell PLC-ADR 2.28% 185,186 $13.0M Add +2.0%
XOM Exxon Mobil Corp. 2.23% 118,095 $12.7M Add +2.4%
LOW Lowe's Cos Inc. 2.21% 57,089 $12.7M Add +3.4%
MMM 3M Co. 2.15% 80,632 $12.3M Reduce -0.4%
ABT Abbott Laboratories 2.13% 89,648 $12.2M Reduce -0.5%
CVX Chevron Corp. 2.08% 83,112 $11.9M Add +4.7%
USB US Bancorp 1.97% 249,266 $11.3M Add +6.1%
OTIS Otis Worldwide Corp. 1.94% 111,991 $11.1M Add +2.4%
SYY Sysco Corp. 1.89% 142,544 $10.8M Add +3.4%
JNJ Johnson & Johnson 1.87% 70,181 $10.7M Add +1.9%
PG The Procter & Gamble Co. 1.86% 66,623 $10.6M Add +1.1%
TTE Totalenergies SE -Spon ADR 1.84% 171,238 $10.5M Add +4.4%
FDX FedEx Corp. 1.84% 46,222 $10.5M Add +6.4%
AAPL Apple Inc. 1.81% 50,475 $10.4M Reduce -1.4%
MDT Medtronic PLC 1.80% 118,192 $10.3M Add +2.4%
KMB Kimberly-Clark Corp. 1.71% 76,036 $9.8M Add +2.5%
LMT Lockheed Martin Corp. 1.71% 21,160 $9.8M Add +3.0%
GPC Genuine Parts Co. 1.58% 74,535 $9.0M Add +11.6%
PEP Pepsico Inc. 1.57% 68,168 $9.0M Add +6.7%
TGT Target Corp. 1.45% 83,931 $8.3M Add +20.7%
DEO Diageo PLC-Sponsored ADR 1.40% 79,526 $8.0M Add +6.3%
PFE Pfizer Inc. 1.40% 330,727 $8.0M Add +8.8%
VTI VG Morningstar TS MKT ETF-US 1.14% 21,420 $6.5M Add +44.2%
VGK Vanguard Ftse Europe ETF 1.01% 74,237 $5.8M Add +33.4%
PICK iShares MSCI Global Metals & 0.45% 67,916 $2.6M Add +109.4%
GLD SPDR Gold Shares 0.35% 6,635 $2.0M Add +7.3%
WMT Walmart Inc. 0.35% 20,476 $2.0M Add +6.8%
BRK.B Berkshire Hathaway Inc. Class B 0.32% 3,721 $1.8M Reduce -2.0%
NOBL Proshares S&P 500 Dividend A 0.29% 16,282 $1.6M Add +0.1%
COST Costco Wholesale Corp. 0.27% 1,577 $1.6M Add +2.9%
BRK.A Berkshire Hathaway Inc. Class A 0.25% 2 $1.5M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.25% 4,876 $1.4M Reduce -4.9%
VGT Vanguard Info Tech ETF 0.23% 1,966 $1.3M Reduce -10.1%
VTV Vanguard Mrngstr Val ETF-Aui 0.16% 5,246 $927K Add +30.5%
SPLV Invesco S&P 500 Low Volatili 0.16% 12,200 $888K No change
NVDA Nvidia Corp. 0.15% 5,609 $886K Add +10.2%
SPY SS SPDR S&P 500 ETF Trust-US 0.12% 1,152 $712K No change
HD Home Depot Inc. 0.12% 1,893 $694K Reduce -0.1%
SBUX Starbucks Corp. 0.11% 6,992 $641K No change
GOOGL Alphabet Inc. Class A 0.11% 3,629 $639K Reduce -1.9%
GBCI Glacier Bancorp Inc. 0.11% 14,831 $639K No change
AMZN Amazon.com Inc. 0.10% 2,527 $554K Add +3.8%
MRK Merck & Co. Inc. 0.10% 6,906 $547K Reduce -2.3%
EBMT Eagle Bancorp Montana Inc. 0.09% 31,769 $530K New
DFUS Dimensional US Eq MKT ETF 0.09% 7,752 $520K No change
VFH Vanguard Financials ETF 0.09% 3,830 $488K No change
ORCL Oracle Corp. 0.08% 2,050 $448K No change
META Meta Platforms Inc. Class A 0.07% 535 $395K Add +9.4%
BA The Boeing Co. 0.07% 1,884 $395K No change
MCD McDonald's Corp. 0.07% 1,332 $389K Add +4.3%
KNF Knife River Corp. 0.06% 4,516 $369K No change
MDU Mdu Resources Group Inc. 0.06% 22,069 $368K No change
FIBK First Interstate Bancsys-A 0.06% 12,722 $367K Add +0.2%
ECG Everus Construction Group 0.06% 5,549 $353K No change
IVV iShares Core S&P 500 ETF 0.06% 563 $350K Reduce -10.2%
ABBV Abbvie Inc. 0.06% 1,840 $342K No change
SCHV Schwab US Large-Cap Value 0.06% 12,182 $337K No change
AXP American Express Co. 0.06% 989 $315K No change
C Citigroup Inc. 0.05% 3,652 $311K Add +2.8%
CSL Carlisle Cos Inc. 0.05% 820 $306K No change
VIS Vanguard Industrials ETF 0.05% 1,063 $298K No change
ADP Automatic Data Processing 0.04% 800 $247K No change
COP Conocophillips 0.04% 2,737 $246K Reduce -13.0%
AVGO Broadcom Inc. 0.04% 884 $244K New
AGG iShares Core U.S. Aggregate 0.04% 2,269 $225K No change
IJJ iShares S&P Mid-Cap 400 Valu 0.04% 1,784 $220K Reduce -6.5%
GOOG Alphabet Inc. Class C 0.04% 1,211 $215K New
LLY Eli Lilly & Co. 0.04% 267 $208K Reduce -1.1%
AMD Advanced Micro Devices 0.04% 1,443 $205K New
VTIP Vanguard Short-Term Tips 0.04% 4,014 $202K New
F Ford Motor Co. filed as FORD MTR CO 0.02% 12,330 $134K No change
GERN Geron Corp. 0.01% 20,959 $30K No change
RYVYL INC 0.00% 14,684 $12K No change

Portfolio Sells Q1 2025 → Q2 2025
AAPL Apple Inc. Reduce -1.4% 1.81% −0.34
ABT Abbott Laboratories Reduce -0.5% 2.13% −0.13
MMM 3M Co. Reduce -0.4% 2.15% −0.11
BRK.B Berkshire Hathaway Inc. Class B Reduce -2.0% 0.32% −0.07
SPMD SS SPDR P S&P 400 Midcap ETF Sold out 0.00% −0.06
SPDW Ste STR SPDR PT DW Eu ETF Sold out 0.00% −0.05
SPYM Ste STR SPDR PT S&P 500 ETF Sold out 0.00% −0.04
ECL Ecolab Inc. Sold out 0.00% −0.04
MRK Merck & Co. Inc. Reduce -2.3% 0.10% −0.02
COP Conocophillips Reduce -13.0% 0.04% −0.02
HD Home Depot Inc. Reduce -0.1% 0.12% −0.01
LLY Eli Lilly & Co. Reduce -1.1% 0.04% −0.01
IVV iShares Core S&P 500 ETF Reduce -10.2% 0.06% −0.01
IJJ iShares S&P Mid-Cap 400 Valu Reduce -6.5% 0.04% −0.00
VGT Vanguard Info Tech ETF Reduce -10.1% 0.23% +0.00
GOOGL Alphabet Inc. Class A Reduce -1.9% 0.11% +0.00
IBM Intl Business Machines Corp. Reduce -4.9% 0.25% +0.01
RTX RTX Corp. Reduce -1.2% 2.66% +0.01
WFC Wells Fargo & Co. Reduce -0.5% 2.75% +0.06
JPM JPMorgan Chase & Co. Reduce -1.1% 3.52% +0.26
MSFT Microsoft Corp. Reduce -0.2% 5.42% +0.97

Portfolio Buys Q1 2025 → Q2 2025
AAON Aaon Inc. Add +110.5% 3.13% +1.42
GS Goldman Sachs Group Inc. Add +0.3% 2.74% +0.45
VTI VG Morningstar TS MKT ETF-US Add +44.2% 1.14% +0.36
EMR Emerson Electric Co. Add +1.5% 2.45% +0.30
CAT Caterpillar Inc. Add +1.7% 2.97% +0.28
VGK Vanguard Ftse Europe ETF Add +33.4% 1.01% +0.27
STT State Street Corp. Add +2.7% 2.31% +0.26
PICK iShares MSCI Global Metals & Add +109.4% 0.45% +0.23
BAC Bank of America Corp. Add +1.0% 2.57% +0.14
EBMT Eagle Bancorp Montana Inc. New 0.09% +0.09
USB US Bancorp Add +6.1% 1.97% +0.09
GPC Genuine Parts Co. Add +11.6% 1.58% +0.07
TGT Target Corp. Add +20.7% 1.45% +0.07
NVDA Nvidia Corp. Add +10.2% 0.15% +0.05
AVGO Broadcom Inc. New 0.04% +0.04
DE Deere & Co. Add +1.8% 2.43% +0.04
GOOG Alphabet Inc. Class C New 0.04% +0.04
AMD Advanced Micro Devices New 0.04% +0.04
VTIP Vanguard Short-Term Tips New 0.04% +0.04
WMT Walmart Inc. Add +6.8% 0.35% +0.03
VTV Vanguard Mrngstr Val ETF-Aui Add +30.5% 0.16% +0.03
GLD SPDR Gold Shares Add +7.3% 0.35% +0.02
META Meta Platforms Inc. Class A Add +9.4% 0.07% +0.02
AMZN Amazon.com Inc. Add +3.8% 0.10% +0.01
C Citigroup Inc. Add +2.8% 0.05% +0.01
COST Costco Wholesale Corp. Add +2.9% 0.27% −0.00
FIBK First Interstate Bancsys-A Add +0.2% 0.06% −0.00
MCD McDonald's Corp. Add +4.3% 0.07% −0.01
LMT Lockheed Martin Corp. Add +3.0% 1.71% −0.03
NOBL Proshares S&P 500 Dividend A Add +0.1% 0.29% −0.03
PFE Pfizer Inc. Add +8.8% 1.40% −0.06
SYY Sysco Corp. Add +3.4% 1.89% −0.07
DEO Diageo PLC-Sponsored ADR Add +6.3% 1.40% −0.08
VPU Vanguard Utilities ETF Add +1.2% 4.28% −0.16
MDT Medtronic PLC Add +2.4% 1.80% −0.16
FDX FedEx Corp. Add +6.4% 1.84% −0.17
TTE Totalenergies SE -Spon ADR Add +4.4% 1.84% −0.17
OTIS Otis Worldwide Corp. Add +2.4% 1.94% −0.20
LOW Lowe's Cos Inc. Add +3.4% 2.21% −0.23
PEP Pepsico Inc. Add +6.7% 1.57% −0.24
SHEL Shell PLC-ADR Add +2.0% 2.28% −0.24
PG The Procter & Gamble Co. Add +1.1% 1.86% −0.27
KMB Kimberly-Clark Corp. Add +2.5% 1.71% −0.29
JNJ Johnson & Johnson Add +1.9% 1.87% −0.29
XOM Exxon Mobil Corp. Add +2.4% 2.23% −0.37
CVX Chevron Corp. Add +4.7% 2.08% −0.44
SCHD Schwab US DVD Equity ETF Add +6.6% 7.56% −0.55
VHT Vanguard Health Care ETF Add +5.7% 6.73% −0.63

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