American Family Investments, Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 4, 2026), American Family Investments, Inc. reported 11 stock positions worth $2.8 billion. Its top holding was Xtrackers US HY BB-B Ex Fin (BHYB) at 56.2% of the portfolio, followed by SS SPDR P Int C Corp. ETF (SPIB, 10.6%) and SS SPDR BB High Yield Bond (JNK, 7.3%). Compared with Q3 2025, it opened 3 new positions, sold out of 1, added to 4 and reduced 1. The biggest buy was a new position in SS SPDR BB High Yield Bond (JNK) and the biggest sale SS SPDR P Int C Corp. ETF (SPIB, shares −9%).
- Most Recent 13F
- Q2 2026
- Location
- MADISON, WI
- CIK
- 0002029723
- Portfolio Value
- $2.8B (Q4 2025)
- SEC Filing
- 0001420506-26-000164 ↗ filed Feb 4, 2026
Holdings Value
Holdings 11 stocks · $2.8B
| BHYB Xtrackers US HY BB-B Ex Fin | 56.15% | 28,627,800 | $1.6B | Add +37.4% |
| SPIB SS SPDR P Int C Corp. ETF | 10.58% | 8,695,000 | $294.0M | Reduce -9.5% |
| JNK SS SPDR BB High Yield Bond | 7.31% | 2,088,000 | $203.0M | New |
| HYD Vaneck High Yield Muni ETF | 5.35% | 2,907,018 | $148.6M | New |
| BOW Bowhead Specialty Holdings I | 4.83% | 4,700,761 | $134.2M | No change |
| VOO Vanguard S&P 500 ETF | 4.24% | 187,733 | $117.7M | Add +10.0% |
| IWV iShares Russell 3000 ETF | 3.78% | 271,840 | $105.2M | Add +687.5% |
| VCIT Vanguard Int-Term Corporate | 3.69% | 1,225,000 | $102.6M | New |
| IWP iShares Russell Mid-Cap Grow | 2.77% | 561,707 | $76.9M | Add +11.7% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 1.08% | 273,400 | $30.1M | No change |
| TDW Tidewater Inc. | 0.22% | 119,817 | $6.1M | No change |
Portfolio Sells Q3 2025 → Q4 2025
Portfolio Buys Q3 2025 → Q4 2025
| JNK SS SPDR BB High Yield Bond | New | 7.31% | +7.31 |
| HYD Vaneck High Yield Muni ETF | New | 5.35% | +5.35 |
| VCIT Vanguard Int-Term Corporate | New | 3.69% | +3.69 |
| IWV iShares Russell 3000 ETF | Add +687.5% | 3.78% | +3.10 |
| IWP iShares Russell Mid-Cap Grow | Add +11.7% | 2.77% | −0.98 |
| VOO Vanguard S&P 500 ETF | Add +10.0% | 4.24% | −1.24 |
| BHYB Xtrackers US HY BB-B Ex Fin | Add +37.4% | 56.15% | −3.79 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 13 | $5.5B | BHYB, IWV, JNK, SPIB, VCIT |
| Q1 2026 | 13 | $3.8B | BHYB, SPIB, JNK, IWV, VCIT |
| Q4 2025 | 11 | $2.8B | BHYB, SPIB, JNK, HYD, BOW |
| Q3 2025 | 9 | $1.9B | BHYB, SPIB, BOW, VOO, HYDW |
| Q2 2025 | 14 | $1.8B | BHYB, HYDW, BOW, SPIB, VOO |
| Q1 2025 | 11 | $1.4B | BHYB, BOW, HYDW, IWP, VCSH |
| Q4 2024 | 11 | $2.1B | BHYB, VCSH, HYDW, VCIT, BOW |
| Q3 2024 | 10 | $1.4B | BHYB, BOW, HYDW, VCIT, VCSH |
| Q2 2024 | 10 | $1.4B | BHYB, HYDW, Bowhead Specialty Holdings Inc, VCIT, VCSH |