American Investment Services, Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), American Investment Services, Inc. reported 129 stock positions worth $430.9 million. Its top holding was SPDR Gold Minishares Trust (GLDM) at 10.2% of the portfolio, followed by Vanguard Mrngstar GR ETF-Sui (VUG, 9.0%) and Dimensional US Marketwide Va (DFUV, 5.3%). Compared with Q3 2025, it opened 6 new positions, sold out of 11, added to 39 and reduced 49. The biggest buy was a new position in Schwab US Broad Market ETF (SCHB) and the biggest sale iShares Gold Trust (IAU, shares −20%).

Most Recent 13F
Q2 2026
Location
GREAT BARRINGTON, MA
CIK
0001369913
Portfolio Value
$430.9M (Q4 2025)
SEC Filing
0001369913-26-000001 ↗ filed Feb 13, 2026

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $564.2M Q1 2024 Q2 2024: $564.7M Q2 2024 Q3 2024: $598.7M Q3 2024 Q4 2024: $565.0M Q4 2024 Q1 2025: $568.1M Q1 2025 Q2 2025: $391.8M Q2 2025 Q3 2025: $416.2M Q3 2025 Q4 2025: $430.9M $430.9M Q4 2025 Q1 2026: $448.3M Q1 2026 Q2 2026: $473.3M Q2 2026

Holdings 129 stocks · $430.9M
GLDM SPDR Gold Minishares Trust 10.16% 512,994 $43.8M Reduce -8.9%
VUG Vanguard Mrngstar GR ETF-Sui 8.97% 79,205 $38.6M Reduce -0.7%
DFUV Dimensional US Marketwide Va 5.25% 485,791 $22.6M Add +0.2%
VYMI Vanguard Int High DVD YLD Inc. 4.69% 224,655 $20.2M Add +1.8%
DFIC Dimensional International Co. 3.10% 387,317 $13.3M Add +9.4%
DFAS Dimensional US Small Cap ETF 2.94% 181,990 $12.7M Add +8.4%
DFUS Dimensional US Eq MKT ETF 2.79% 161,855 $12.0M Add +8.8%
VTV Vanguard Mrngstr Val ETF-Aui 2.64% 59,640 $11.4M Add +1.1%
VPU Vanguard Utilities ETF 2.31% 53,909 $10.0M Add +0.9%
DFGR Dim Global Real Estate ETF 2.05% 334,634 $8.8M Add +19.6%
DFEM Dimensional Emrg MRKT Core 2.04% 265,385 $8.8M Add +4.3%
CVX Chevron Corp. 2.04% 57,554 $8.8M Add +0.3%
DFAT Dimensional US Target Value 2.01% 145,467 $8.7M Add +0.0%
DFAW Dimensional World Eqty ETF 1.93% 112,427 $8.3M Add +9.4%
VZ Verizon Communications Inc. 1.93% 203,991 $8.3M Reduce -0.6%
IAU iShares Gold Trust 1.93% 102,250 $8.3M Reduce -20.3%
VEA Vanguard Ftse Developed ETF 1.89% 130,091 $8.1M Reduce -8.4%
DFAX Dimensional World Ex US Core 1.80% 237,370 $7.8M Reduce -1.5%
VBR Vngrd Mrngst SL-CP Val ETF-U 1.51% 30,642 $6.5M Reduce -4.4%
VB Vanguard Most SM-Cap ETF-Usd 1.49% 24,957 $6.4M Reduce -3.3%
VNQ Vanguard Real Estate ETF 1.45% 70,674 $6.3M Add +0.4%
MRK Merck & Co. Inc. 1.36% 55,803 $5.9M Add +21.8%
SHV iShares 0-1 Year Treasury Bo 1.28% 50,109 $5.5M Reduce -0.3%
VOO Vanguard S&P 500 ETF 1.20% 8,243 $5.2M Reduce -11.0%
DFSV Dimensional US Small Cap Val 1.16% 151,323 $5.0M Add +2.7%
JNJ Johnson & Johnson 1.12% 23,332 $4.8M Add +2.8%
VTEB Vanguard Tax-Exempt Bond ETF 0.97% 82,741 $4.2M Add +7.8%
AMGN Amgen Inc. 0.94% 12,364 $4.0M Add +27.2%
SCHO Schwab Short-Term US Treas 0.92% 163,059 $4.0M Add +16.2%
DFLV Dim US Large Cap Value ETF 0.88% 111,300 $3.8M Add +3.2%
DFNM Dimensional National Muni BD 0.88% 78,899 $3.8M Add +23.1%
VWO Vanguard Ftse Emerging Marke 0.88% 70,332 $3.8M Add +6.0%
SPDW Ste STR SPDR PT DW Eu ETF 0.79% 76,172 $3.4M Reduce -4.9%
SPYV SS SPDR P S&P 500 Value ETF 0.78% 59,253 $3.4M Reduce -2.5%
VCIT Vanguard Int-Term Corporate 0.75% 38,438 $3.2M Add +10.9%
SCHB Schwab US Broad Market ETF 0.70% 114,611 $3.0M New
SHY iShares 1-3 Year Treasury Bo 0.68% 35,216 $2.9M Reduce -1.9%
VGSH Vanguard Short-Term Treasury 0.67% 49,172 $2.9M Reduce -2.0%
BRK.B Berkshire Hathaway Inc. Class B 0.66% 5,677 $2.9M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.66% 9,622 $2.9M Reduce -33.0%
DFAI Dimensional International Co. 0.62% 69,901 $2.7M Add +5.2%
SPYM Ste STR SPDR PT S&P 500 ETF 0.62% 33,075 $2.7M Reduce -10.5%
SCHX Schwab US Large-Cap ETF 0.53% 85,578 $2.3M Reduce -0.8%
VTI VG Morningstar TS MKT ETF-US 0.53% 6,851 $2.3M Reduce -2.9%
BSV Vanguard Short-Term Bond ETF 0.53% 28,895 $2.3M Add +2.4%
SCHA Schwab US Small-Cap ETF 0.52% 78,428 $2.2M Reduce -1.0%
IVW iShares S&P 500 Growth ETF 0.48% 16,817 $2.1M Reduce -11.0%
AGG iShares Core U.S. Aggregate 0.47% 20,406 $2.0M Add +25.1%
DFGP Dimensional GLBL Core PL Fix 0.43% 34,266 $1.9M Add +17.1%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.43% 5,824 $1.8M Reduce -9.3%
RSP Invesco S&P 500 Equal Weight 0.42% 9,522 $1.8M No change
DFAU Dimensional US Core Equity M 0.42% 38,809 $1.8M Add +15.9%
DFIV Dimensional International Va 0.41% 35,620 $1.8M Reduce -1.1%
DFSD Dimensional Short Duration 0.40% 35,937 $1.7M Add +15.6%
IWF iShares Russell 1000 Growth 0.39% 3,573 $1.7M Reduce -0.1%
TIP iShares Tips Bond ETF 0.37% 14,664 $1.6M Add +3.3%
LLY Eli Lilly & Co. 0.35% 1,395 $1.5M No change
IJS iShares S&P Small-Cap 600 Va 0.34% 12,760 $1.5M Reduce -1.5%
DUHP Dimensional US High Profi Et 0.33% 37,597 $1.4M Reduce -15.4%
VONE Vanguard Russell 1000 0.32% 4,425 $1.4M No change
DFAE Dimensional Emerging Core Eq 0.32% 41,755 $1.4M Add +0.1%
SCHF Schwab Intl Equity ETF 0.29% 51,951 $1.2M Reduce -2.4%
SLYV SS SPDR S&P 600 SC Val ETF 0.29% 13,581 $1.2M Reduce -0.2%
BND Vanguard Total Bond Market 0.26% 15,341 $1.1M Add +12.0%
VSDB Vanguard Short Dur Bond ETF 0.25% 14,236 $1.1M New
DFCF Dimensional Core Fixed Inc. 0.24% 24,459 $1.0M New
SCHE Schwab Emrg Mrkts Eqty ETF 0.22% 29,486 $966K Add +0.0%
SPEM State Street SP PTF Em ETF 0.21% 19,683 $921K Reduce -0.7%
PLD Prologis Inc. 0.21% 7,070 $903K No change
DOW Dow Inc. 0.21% 38,368 $897K Reduce -37.4%
DFVX Dim US Large Cap Vector ETF 0.20% 11,676 $868K Reduce -1.8%
IWD iShares Russell 1000 Value E 0.20% 4,076 $857K No change
BRK.A Berkshire Hathaway Inc. Class A 0.18% 1 $755K No change
JPM JPMorgan Chase & Co. 0.17% 2,302 $742K Reduce -18.9%
CSCO Cisco Systems Inc. 0.17% 9,567 $737K Reduce -5.0%
HD Home Depot Inc. 0.17% 2,140 $736K No change
EQIX Equinix Inc. 0.17% 929 $712K No change
IVV iShares Core S&P 500 ETF 0.16% 1,031 $706K No change
XOM Exxon Mobil Corp. 0.16% 5,846 $704K Reduce -64.3%
IJR iShares Core S&P Small-Cap E 0.16% 5,598 $673K Reduce -3.3%
SPSM SS SPDR P S&P 600 Small Cap 0.15% 14,119 $662K Reduce -25.1%
AMT American Tower Corp. 0.15% 3,599 $632K No change
VGT Vanguard Info Tech ETF 0.15% 831 $626K Add +2.0%
IWM iShares Russell 2000 ETF 0.14% 2,477 $610K No change
NEE Nextera Energy Inc. 0.14% 7,586 $609K No change
EEM iShares MSCI Emerging Market 0.14% 11,019 $603K Reduce -5.9%
CAT Caterpillar Inc. 0.14% 1,043 $598K Add +143.7%
SPY SS SPDR S&P 500 ETF Trust-US 0.14% 867 $591K Reduce -3.6%
VTIP Vanguard Short-Term Tips 0.14% 11,777 $582K Add +8.4%
PEP Pepsico Inc. 0.13% 3,951 $567K No change
CI The Cigna Group 0.13% 2,033 $560K No change
AAPL Apple Inc. 0.13% 2,028 $551K No change
DFAR Dimensional US Real Est ETF 0.13% 23,692 $543K Reduce -2.6%
GE General Electric filed as GE AEROSPACE 0.12% 1,745 $538K Reduce -16.8%
PG The Procter & Gamble Co. 0.12% 3,522 $505K Reduce -21.7%
KO The Coca-Cola Co. 0.12% 7,158 $500K New
SPG Simon Property Group Inc. 0.11% 2,656 $492K No change
DLR Digital Realty Trust Inc. 0.11% 3,030 $469K No change
SCHV Schwab US Large-Cap Value 0.11% 15,663 $464K Reduce -9.4%
O Realty Income Corp. 0.10% 7,526 $424K No change
PSA Public Storage 0.10% 1,626 $422K No change
VCEB Vanguard ESG US Corp. Bond 0.10% 6,578 $419K Add +1.8%
MSFT Microsoft Corp. 0.10% 850 $411K No change
ICF iShares Select U.S. REIT ETF 0.09% 6,384 $381K No change
CL Colgate-Palmolive Co. 0.09% 4,800 $379K No change
JCI Johnson Controls Internation 0.09% 3,130 $375K No change
BNDX Vanguard Total Intl Bond ETF 0.09% 7,679 $371K Reduce -12.8%
EFA iShares MSCI Eafe ETF 0.08% 3,704 $356K Reduce -9.4%
IVE iShares S&P 500 Value ETF 0.08% 1,666 $353K Reduce -11.2%
CCI Crown Castle Inc. 0.08% 3,972 $353K No change
HIG Hartford Insurance Group Inc. 0.08% 2,423 $334K No change
VSDM Vanguard Short Tax-Ex Bond 0.07% 4,149 $317K New
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.07% 11,092 $312K No change
BNDW Vanguard Total World Bond Et 0.07% 4,497 $309K Add +1.0%
VIG Vanguard Dividend Apprec ETF 0.07% 1,385 $304K Reduce -2.0%
DFEV Dimensional Emrg MRKT Val 0.07% 8,962 $302K Reduce -18.4%
EXR Extra Space Storage Inc. 0.07% 2,249 $293K No change
MDT Medtronic PLC 0.06% 2,868 $276K No change
AVB Avalonbay Communities Inc. 0.06% 1,481 $269K No change
XLK SS Technology Select Sector 0.06% 1,848 $266K No change
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.06% 3,103 $257K No change
TEL Te Connectivity PLC 0.06% 1,124 $256K Reduce -19.2%
VXUS Vanguard Total Intl Stock 0.06% 3,291 $248K Reduce -6.3%
IWC iShares Micro-Cap ETF 0.05% 1,492 $235K No change
VTC Vanguard Total Corporate BND 0.05% 3,004 $233K Add +1.9%
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.05% 3,665 $231K No change
SBAC SBA Communications Corp. 0.05% 1,146 $222K No change
AMD Advanced Micro Devices 0.05% 1,018 $218K New
PFE Pfizer Inc. 0.05% 8,082 $201K Reduce -5.4%

Portfolio Sells Q3 2025 → Q4 2025
IAU iShares Gold Trust Reduce -20.3% 1.93% −0.32
IBM Intl Business Machines Corp. Reduce -33.0% 0.66% −0.31
XOM Exxon Mobil Corp. Reduce -64.3% 0.16% −0.28
MMM 3M Co. Sold out 0.00% −0.27
VZ Verizon Communications Inc. Reduce -0.6% 1.93% −0.24
VUG Vanguard Mrngstar GR ETF-Sui Reduce -0.7% 8.97% −0.23
GLDM SPDR Gold Minishares Trust Reduce -8.9% 10.16% −0.18
VOO Vanguard S&P 500 ETF Reduce -11.0% 1.20% −0.16
VEA Vanguard Ftse Developed ETF Reduce -8.4% 1.89% −0.16
DOW Dow Inc. Reduce -37.4% 0.21% −0.13
VBR Vngrd Mrngst SL-CP Val ETF-U Reduce -4.4% 1.51% −0.10
VB Vanguard Most SM-Cap ETF-Usd Reduce -3.3% 1.49% −0.08
SPYM Ste STR SPDR PT S&P 500 ETF Reduce -10.5% 0.62% −0.08
DUHP Dimensional US High Profi Et Reduce -15.4% 0.33% −0.07
GLD SPDR Gold Shares Sold out 0.00% −0.07
IVW iShares S&P 500 Growth ETF Reduce -11.0% 0.48% −0.07
ADP Automatic Data Processing Sold out 0.00% −0.06
NYF iShares New York Muni Bond E Sold out 0.00% −0.06
VT Vanguard Tot World STK ETF Sold out 0.00% −0.06
VGLT Vanguard Long-Term Treasury Sold out 0.00% −0.06
WMT Walmart Inc. Sold out 0.00% −0.06
SPSM SS SPDR P S&P 600 Small Cap Reduce -25.1% 0.15% −0.06
EMXC iShares MSCI Emr MRK Ex Chna Sold out 0.00% −0.06
SHV iShares 0-1 Year Treasury Bo Reduce -0.3% 1.28% −0.05
PFFD Global X US Preferred ETF Sold out 0.00% −0.05
VYM Vanguard High DVD Yield ETF Sold out 0.00% −0.05
VV Vngrd Mrgstr LRG-Cap ETF-Usd Reduce -9.3% 0.43% −0.05
PG The Procter & Gamble Co. Reduce -21.7% 0.12% −0.05
VNQI Vanguard GLBL Ex-US Real Est Sold out 0.00% −0.05
JPM JPMorgan Chase & Co. Reduce -18.9% 0.17% −0.04
VGSH Vanguard Short-Term Treasury Reduce -2.0% 0.67% −0.04
SPDW Ste STR SPDR PT DW Eu ETF Reduce -4.9% 0.79% −0.04
SHY iShares 1-3 Year Treasury Bo Reduce -1.9% 0.68% −0.04
GE General Electric Reduce -16.8% 0.12% −0.03
SPYV SS SPDR P S&P 500 Value ETF Reduce -2.5% 0.78% −0.03
VTI VG Morningstar TS MKT ETF-US Reduce -2.9% 0.53% −0.02
BNDX Vanguard Total Intl Bond ETF Reduce -12.8% 0.09% −0.02
DFAX Dimensional World Ex US Core Reduce -1.5% 1.80% −0.01
TEL Te Connectivity PLC Reduce -19.2% 0.06% −0.01
DFEV Dimensional Emrg MRKT Val Reduce -18.4% 0.07% −0.01
DFAR Dimensional US Real Est ETF Reduce -2.6% 0.13% −0.01
SCHV Schwab US Large-Cap Value Reduce -9.4% 0.11% −0.01
SCHA Schwab US Small-Cap ETF Reduce -1.0% 0.52% −0.01
SCHX Schwab US Large-Cap ETF Reduce -0.8% 0.53% −0.01
IVE iShares S&P 500 Value ETF Reduce -11.2% 0.08% −0.01
EEM iShares MSCI Emerging Market Reduce -5.9% 0.14% −0.01
IWF iShares Russell 1000 Growth Reduce -0.1% 0.39% −0.01
EFA iShares MSCI Eafe ETF Reduce -9.4% 0.08% −0.01
SPEM State Street SP PTF Em ETF Reduce -0.7% 0.21% −0.01
IJR iShares Core S&P Small-Cap E Reduce -3.3% 0.16% −0.01

Portfolio Buys Q3 2025 → Q4 2025
SCHB Schwab US Broad Market ETF New 0.70% +0.70
MRK Merck & Co. Inc. Add +21.8% 1.36% +0.44
DFIC Dimensional International Co. Add +9.4% 3.10% +0.31
AMGN Amgen Inc. Add +27.2% 0.94% +0.28
VSDB Vanguard Short Dur Bond ETF New 0.25% +0.25
DFCF Dimensional Core Fixed Inc. New 0.24% +0.24
DFGR Dim Global Real Estate ETF Add +19.6% 2.05% +0.22
VYMI Vanguard Int High DVD YLD Inc. Add +1.8% 4.69% +0.20
DFUS Dimensional US Eq MKT ETF Add +8.8% 2.79% +0.20
DFAS Dimensional US Small Cap ETF Add +8.4% 2.94% +0.18
DFAW Dimensional World Eqty ETF Add +9.4% 1.93% +0.16
DFNM Dimensional National Muni BD Add +23.1% 0.88% +0.14
KO The Coca-Cola Co. New 0.12% +0.12
JNJ Johnson & Johnson Add +2.8% 1.12% +0.11
SCHO Schwab Short-Term US Treas Add +16.2% 0.92% +0.10
CAT Caterpillar Inc. Add +143.7% 0.14% +0.09
AGG iShares Core U.S. Aggregate Add +25.1% 0.47% +0.08
DFEM Dimensional Emrg MRKT Core Add +4.3% 2.04% +0.08
VSDM Vanguard Short Tax-Ex Bond New 0.07% +0.07
DFAU Dimensional US Core Equity M Add +15.9% 0.42% +0.05
AMD Advanced Micro Devices New 0.05% +0.05
DFUV Dimensional US Marketwide Va Add +0.2% 5.25% +0.05
VCIT Vanguard Int-Term Corporate Add +10.9% 0.75% +0.05
VTEB Vanguard Tax-Exempt Bond ETF Add +7.8% 0.97% +0.04
DFSD Dimensional Short Duration Add +15.6% 0.40% +0.04
DFGP Dimensional GLBL Core PL Fix Add +17.1% 0.43% +0.04
DFAI Dimensional International Co. Add +5.2% 0.62% +0.04
DFLV Dim US Large Cap Value ETF Add +3.2% 0.88% +0.03
DFSV Dimensional US Small Cap Val Add +2.7% 1.16% +0.03
BND Vanguard Total Bond Market Add +12.0% 0.26% +0.02
VWO Vanguard Ftse Emerging Marke Add +6.0% 0.88% +0.01
VTIP Vanguard Short-Term Tips Add +8.4% 0.14% +0.00
VTV Vanguard Mrngstr Val ETF-Aui Add +1.1% 2.64% 0.00
DFAE Dimensional Emerging Core Eq Add +0.1% 0.32% −0.00
VGT Vanguard Info Tech ETF Add +2.0% 0.15% −0.00
VTC Vanguard Total Corporate BND Add +1.9% 0.05% −0.00
VCEB Vanguard ESG US Corp. Bond Add +1.8% 0.10% −0.00
BNDW Vanguard Total World Bond Et Add +1.0% 0.07% −0.00
TIP iShares Tips Bond ETF Add +3.3% 0.37% −0.01
BSV Vanguard Short-Term Bond ETF Add +2.4% 0.53% −0.01
SCHE Schwab Emrg Mrkts Eqty ETF Add +0.0% 0.22% −0.01
DFAT Dimensional US Target Value Add +0.0% 2.01% −0.02
VNQ Vanguard Real Estate ETF Add +0.4% 1.45% −0.10
CVX Chevron Corp. Add +0.3% 2.04% −0.10
VPU Vanguard Utilities ETF Add +0.9% 2.31% −0.12

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 133$473.3MGLDM, VUG, DFUV, VYMI, DFAS
Q1 2026 132$448.3MGLDM, VUG, DFUV, VYMI, DFIC
Q4 2025 129$430.9MGLDM, VUG, DFUV, VYMI, DFIC
Q3 2025 134$416.2MGLDM, VUG, DFUV, VYMI, DFIC
Q2 2025 133$391.8MGLDM, VUG, DFUV, VYMI, DFAS
Q1 2025 157$568.1MGLDM, DFUS, VUG, DFUV, VYMI
Q4 2024Amended 157$565.0MVUG, DFUS, GLDM, DFUV, VYMI
Q3 2024 157$598.7MVUG, DFUS, GLDM, DFUV, SCHB
Q2 2024 156$564.7MVUG, DFUS, GLDM, DFUV, SCHB
Q1 2024 155$564.2MGLDM, DFUV, DFUS, VUG, SCHB