Allied Investment Advisors, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 9, 2026), Allied Investment Advisors, LLC reported 102 stock positions worth $646.8 million. Its top holding was Schwab US DVD Equity ETF (SCHD) at 7.6% of the portfolio, followed by Vanguard Health Care ETF (VHT, 7.4%) and Microsoft (MSFT, 4.8%). Compared with Q3 2025, it opened 11 new positions, sold out of 6, added to 41 and reduced 25. The biggest buy was Vanguard Health Care ETF (VHT, shares +2%) and the biggest sale an exit from Totalenergies SE -Spon ADR (TTE).

Most Recent 13F
Q2 2026
Location
BILLINGS, MT
CIK
0001729869
Portfolio Value
$646.8M (Q4 2025)
SEC Filing
0001729869-26-000001 ↗ filed Feb 9, 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 $646.8M Q4 2025 Q1 2026: $697.4M Q1 2026 Q2 2026: $796.5M Q2 2026

Holdings 102 stocks · $646.8M
SCHD Schwab US DVD Equity ETF 7.56% 1,783,865 $48.9M Add +4.4%
VHT Vanguard Health Care ETF 7.44% 167,280 $48.2M Add +2.3%
MSFT Microsoft Corp. 4.81% 64,384 $31.1M Add +0.5%
CAT Caterpillar Inc. 3.64% 41,070 $23.5M Reduce -5.6%
JPM JPMorgan Chase & Co. 3.46% 69,411 $22.4M Reduce -1.1%
GS Goldman Sachs Group Inc. 2.90% 21,339 $18.8M Reduce -2.0%
WFC Wells Fargo & Co. 2.89% 200,748 $18.7M Add +0.1%
RTX RTX Corp. 2.86% 101,038 $18.5M Reduce -4.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 2.72% 320,441 $17.6M Add +0.4%
STT State Street Corp. 2.55% 128,053 $16.5M Add +1.0%
VPU Vanguard Utilities ETF 2.53% 88,342 $16.3M Reduce -0.3%
JNJ Johnson & Johnson 2.38% 74,534 $15.4M Add +1.7%
XOM Exxon Mobil Corp. 2.35% 126,191 $15.2M Add +2.6%
LOW Lowe's Cos Inc. 2.26% 60,701 $14.6M Add +2.9%
SHEL Shell PLC-ADR 2.23% 196,452 $14.4M Add +2.5%
FDX FedEx Corp. 2.22% 49,710 $14.4M Add +2.4%
USB US Bancorp 2.21% 268,159 $14.3M Add +3.3%
CVX Chevron Corp. 2.12% 89,975 $13.7M Add +3.7%
DE Deere & Co. 2.10% 29,184 $13.6M Add +2.9%
MMM 3M Co. 2.09% 84,409 $13.5M Add +1.4%
AAPL Apple Inc. 2.07% 49,150 $13.4M Reduce -0.9%
MDT Medtronic PLC 1.92% 129,336 $12.4M Add +3.6%
ABT Abbott Laboratories 1.90% 98,028 $12.3M Add +3.6%
AAON Aaon Inc. 1.82% 154,562 $11.8M Reduce -22.2%
SYY Sysco Corp. 1.77% 155,762 $11.5M Add +4.0%
LMT Lockheed Martin Corp. 1.76% 23,593 $11.4M Add +3.6%
AMRZ Amrize Ltd. 1.74% 207,648 $11.2M Add +5.9%
PEP Pepsico Inc. 1.71% 76,929 $11.0M Add +4.9%
OTIS Otis Worldwide Corp. 1.68% 124,478 $10.9M Add +4.8%
PG The Procter & Gamble Co. 1.66% 75,132 $10.8M Add +6.8%
O Realty Income Corp. 1.61% 184,659 $10.4M Add +3.3%
GPC Genuine Parts Co. 1.57% 82,642 $10.2M Add +3.8%
VGK Vanguard Ftse Europe ETF 1.56% 120,787 $10.1M Add +21.2%
PFE Pfizer Inc. 1.43% 371,263 $9.2M Add +3.7%
TGT Target Corp. 1.42% 94,077 $9.2M Add +5.0%
KMB Kimberly-Clark Corp. 1.38% 88,679 $8.9M Add +10.1%
DEO Diageo PLC-Sponsored ADR 1.25% 93,509 $8.1M Add +7.7%
VTI VG Morningstar TS MKT ETF-US 1.13% 21,829 $7.3M No change
EMR Emerson Electric Co. 0.58% 28,500 $3.8M Reduce -4.6%
PICK iShares MSCI Global Metals & 0.56% 70,374 $3.6M New
GLD SPDR Gold Shares 0.41% 6,629 $2.6M Add +526.6%
WMT Walmart Inc. 0.35% 20,524 $2.3M Add +0.2%
NVDA Nvidia Corp. 0.31% 10,825 $2.0M Add +2.1%
BRK.B Berkshire Hathaway Inc. Class B 0.31% 3,943 $2.0M Reduce -4.5%
NOBL Proshares S&P 500 Dividend A 0.25% 15,525 $1.6M Reduce -13.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.24% 5,145 $1.5M Reduce -0.2%
BRK.A Berkshire Hathaway Inc. Class A 0.23% 2 $1.5M No change
VTV Vanguard Mrngstr Val ETF-Aui 0.22% 7,606 $1.5M Reduce -8.2%
VGT Vanguard Info Tech ETF 0.22% 1,924 $1.5M No change
COST Costco Wholesale Corp. 0.19% 1,398 $1.2M Add +5.3%
GOOGL Alphabet Inc. Class A 0.18% 3,712 $1.2M Add +2.3%
AVGO Broadcom Inc. 0.16% 2,938 $1.0M Add +1.9%
SPLV Invesco S&P 500 Low Volatili 0.13% 12,200 $871K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.13% 1,268 $865K Reduce -24.8%
GBCI Glacier Bancorp Inc. 0.13% 18,527 $816K Reduce -3.0%
GOOG Alphabet Inc. Class C 0.12% 2,424 $761K Add +7.0%
META Meta Platforms Inc. Class A 0.11% 1,110 $733K Add +0.3%
AMZN Amazon.com Inc. 0.11% 3,141 $725K Reduce -3.9%
MRK Merck & Co. Inc. 0.11% 6,487 $683K Reduce -2.4%
HD Home Depot Inc. 0.10% 1,852 $637K No change
EBMT Eagle Bancorp Montana Inc. 0.10% 31,769 $632K New
SBUX Starbucks Corp. 0.09% 7,117 $599K Add +1.8%
DFUS Dimensional US Eq MKT ETF 0.09% 7,752 $575K No change
FIBK First Interstate Bancsys-A 0.08% 15,600 $540K Reduce -8.5%
ABBV Abbvie Inc. 0.08% 2,292 $524K No change
ECG Everus Construction Group 0.07% 5,607 $480K Reduce -2.6%
VFH Vanguard Financials ETF 0.07% 3,582 $478K No change
MDU Mdu Resources Group Inc. 0.07% 22,304 $435K Reduce -2.6%
C Citigroup Inc. 0.07% 3,706 $432K Add +0.5%
MCD McDonald's Corp. 0.06% 1,366 $417K Add +2.5%
ORCL Oracle Corp. 0.06% 2,050 $400K No change
BA The Boeing Co. 0.06% 1,834 $398K Reduce -2.6%
MCK McKesson Corp. 0.06% 479 $393K No change
SCHV Schwab US Large-Cap Value 0.06% 12,451 $369K No change
AXP American Express Co. 0.06% 989 $366K No change
CSCO Cisco Systems Inc. 0.05% 4,428 $341K No change
MO Altria Group Inc. 0.05% 5,886 $339K New
LLY Eli Lilly & Co. 0.05% 312 $335K Reduce -4.3%
IVV iShares Core S&P 500 ETF 0.05% 482 $330K Reduce -4.0%
KNF Knife River Corp. 0.05% 4,572 $322K Reduce -3.2%
STLD Steel Dynamics Inc. 0.05% 1,827 $310K No change
AMD Advanced Micro Devices 0.05% 1,443 $309K No change
MGK Vngrd Mrgstr MG CP GR ETF-Ui 0.05% 734 $303K No change
VIS Vanguard Industrials ETF 0.05% 1,006 $300K No change
QQQ Invesco QQQ Trust Series 1 0.04% 472 $290K Reduce -21.7%
FSLR First Solar Inc. 0.04% 1,027 $268K No change
SCHW Schwab (charles) Corp. 0.04% 2,639 $264K Reduce -5.4%
CSL Carlisle Cos Inc. 0.04% 820 $262K No change
COP Conocophillips 0.04% 2,737 $256K No change
IWM iShares Russell 2000 ETF 0.04% 948 $233K New
AGG iShares Core U.S. Aggregate 0.04% 2,309 $231K No change
MLI Mueller Industries Inc. 0.03% 1,967 $226K New
UNH Unitedhealth Group Inc. 0.03% 683 $226K No change
SLV iShares Silver Trust 0.03% 3,442 $222K New
PSX Phillips 66 0.03% 1,654 $213K New
WPC WP Carey Inc. 0.03% 3,281 $211K New
CMI Cummins Inc. 0.03% 413 $211K New
ADP Automatic Data Processing 0.03% 800 $206K No change
POWL Powell Industries Inc. 0.03% 642 $205K New
F Ford Motor Co. filed as FORD MTR CO 0.03% 12,330 $162K No change

Show all 102 holdings

Portfolio Sells Q3 2025 → Q4 2025
TTE Totalenergies SE -Spon ADR Sold out 0.00% −1.71
AAON Aaon Inc. Reduce -22.2% 1.82% −1.13
VPU Vanguard Utilities ETF Reduce -0.3% 2.53% −0.15
JPM JPMorgan Chase & Co. Reduce -1.1% 3.46% −0.07
WDC Western Digital Corp. Sold out 0.00% −0.05
SPY SS SPDR S&P 500 ETF Trust-US Reduce -24.8% 0.13% −0.05
NOBL Proshares S&P 500 Dividend A Reduce -13.4% 0.25% −0.04
EMR Emerson Electric Co. Reduce -4.6% 0.58% −0.04
IJJ iShares S&P Mid-Cap 400 Valu Sold out 0.00% −0.04
AXON Axon Enterprise Inc. Sold out 0.00% −0.04
BROS Dutch Bros Inc. Class A Sold out 0.00% −0.04
VTIP Vanguard Short-Term Tips Sold out 0.00% −0.03
BRK.B Berkshire Hathaway Inc. Class B Reduce -4.5% 0.31% −0.02
GBCI Glacier Bancorp Inc. Reduce -3.0% 0.13% −0.02
VTV Vanguard Mrngstr Val ETF-Aui Reduce -8.2% 0.22% −0.02
QQQ Invesco QQQ Trust Series 1 Reduce -21.7% 0.04% −0.01
KNF Knife River Corp. Reduce -3.2% 0.05% −0.01
ECG Everus Construction Group Reduce -2.6% 0.07% −0.00
BA The Boeing Co. Reduce -2.6% 0.06% −0.00
FIBK First Interstate Bancsys-A Reduce -8.5% 0.08% −0.00
IVV iShares Core S&P 500 ETF Reduce -4.0% 0.05% −0.00
AMZN Amazon.com Inc. Reduce -3.9% 0.11% −0.00
SCHW Schwab (charles) Corp. Reduce -5.4% 0.04% −0.00
MDU Mdu Resources Group Inc. Reduce -2.6% 0.07% +0.00
IBM Intl Business Machines Corp. Reduce -0.2% 0.24% +0.00
LLY Eli Lilly & Co. Reduce -4.3% 0.05% +0.01
MRK Merck & Co. Inc. Reduce -2.4% 0.11% +0.02
RTX RTX Corp. Reduce -4.3% 2.86% +0.05
AAPL Apple Inc. Reduce -0.9% 2.07% +0.06
GS Goldman Sachs Group Inc. Reduce -2.0% 2.90% +0.14
CAT Caterpillar Inc. Reduce -5.6% 3.64% +0.33

Portfolio Buys Q3 2025 → Q4 2025
VHT Vanguard Health Care ETF Add +2.3% 7.44% +0.69
PICK iShares MSCI Global Metals & New 0.56% +0.56
FDX FedEx Corp. Add +2.4% 2.22% +0.40
GLD SPDR Gold Shares Add +526.6% 0.41% +0.35
VGK Vanguard Ftse Europe ETF Add +21.2% 1.56% +0.30
AMRZ Amrize Ltd. Add +5.9% 1.74% +0.22
JNJ Johnson & Johnson Add +1.7% 2.38% +0.22
WFC Wells Fargo & Co. Add +0.1% 2.89% +0.22
USB US Bancorp Add +3.3% 2.21% +0.22
STT State Street Corp. Add +1.0% 2.55% +0.21
TGT Target Corp. Add +5.0% 1.42% +0.14
SCHD Schwab US DVD Equity ETF Add +4.4% 7.56% +0.14
XOM Exxon Mobil Corp. Add +2.6% 2.35% +0.14
BAC Bank of America Corp. Add +0.4% 2.72% +0.10
EBMT Eagle Bancorp Montana Inc. New 0.10% +0.10
PEP Pepsico Inc. Add +4.9% 1.71% +0.07
MO Altria Group Inc. New 0.05% +0.05
SHEL Shell PLC-ADR Add +2.5% 2.23% +0.05
GOOGL Alphabet Inc. Class A Add +2.3% 0.18% +0.04
DE Deere & Co. Add +2.9% 2.10% +0.04
IWM iShares Russell 2000 ETF New 0.04% +0.04
MLI Mueller Industries Inc. New 0.03% +0.03
SLV iShares Silver Trust New 0.03% +0.03
PSX Phillips 66 New 0.03% +0.03
MMM 3M Co. Add +1.4% 2.09% +0.03
CMI Cummins Inc. New 0.03% +0.03
WPC WP Carey Inc. New 0.03% +0.03
POWL Powell Industries Inc. New 0.03% +0.03
GOOG Alphabet Inc. Class C Add +7.0% 0.12% +0.03
MDT Medtronic PLC Add +3.6% 1.92% +0.03
WMT Walmart Inc. Add +0.2% 0.35% +0.02
C Citigroup Inc. Add +0.5% 0.07% +0.01
AVGO Broadcom Inc. Add +1.9% 0.16% +0.01
RTB RTB Digital Inc. New 0.00% +0.00
MCD McDonald's Corp. Add +2.5% 0.06% +0.00
SBUX Starbucks Corp. Add +1.8% 0.09% −0.00
NVDA Nvidia Corp. Add +2.1% 0.31% −0.00
COST Costco Wholesale Corp. Add +5.3% 0.19% −0.01
META Meta Platforms Inc. Class A Add +0.3% 0.11% −0.02
PFE Pfizer Inc. Add +3.7% 1.43% −0.02
CVX Chevron Corp. Add +3.7% 2.12% −0.02
LMT Lockheed Martin Corp. Add +3.6% 1.76% −0.04
OTIS Otis Worldwide Corp. Add +4.8% 1.68% −0.05
PG The Procter & Gamble Co. Add +6.8% 1.66% −0.06
DEO Diageo PLC-Sponsored ADR Add +7.7% 1.25% −0.07
LOW Lowe's Cos Inc. Add +2.9% 2.26% −0.10
ABT Abbott Laboratories Add +3.6% 1.90% −0.12
O Realty Income Corp. Add +3.3% 1.61% −0.12
GPC Genuine Parts Co. Add +3.8% 1.57% −0.19
SYY Sysco Corp. Add +4.0% 1.77% −0.19

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