CIK: 0001369913
Total reported value
$448.3M
Reporting period: 2026-03-31 · Number of holdings: 132
American Investment Services, Inc. disclosed 132 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $448.3M and a quarterly turnover rate of 9.7%.
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American Investment Services, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.031 — mathematically equivalent to about 32 equally-sized positions, well below its 132 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.77), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 14% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Add VSDM
+2707.0% $8.6M
Trim VUG
+0.1% -$4.0M
Add CVX
-0.7% $3.1M
Trim GLDM
-8.5% -$289.8K
Trim IBM
-56.6% -$1.8M
Add MRK
+19.1% $2.1M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | GLDM | Spdr Gold Minishares Trust | ETF-Commodities | 9.70% | -0.46% | -8.51% | |
| 2 | VUG | Vanguard Growth ETF | ETF-Other | 7.73% | -1.24% | +0.15% | |
| 3 | DFUV | Dimensional US Marketwide Va | ETF-Other | 5.19% | -0.06% | -1.12% | |
| 4 | VYMI | Vanguard Int High Dvd Yld In | ETF-Other | 4.57% | -0.12% | -3.25% | |
| 5 | DFIC | Dimensional International Co | ETF-Other | 3.15% | +0.05% | +2.65% | |
| 6 | DFAS | Dimensional US Small Cap ETF | ETF-Small Cap | 2.84% | — | -1.48% | |
| 7 | DFUS | Dimensional US Eq Mkt ETF | ETF-Other | 2.74% | -0.05% | +7.14% | |
| 8 | CVX | Chevron CORP | Stock-Energy | 2.64% | +0.60% | -0.70% | |
| 9 | VTV | Vanguard Value ETF | ETF-Other | 2.63% | -0.01% | +0.75% | |
| 10 | VPU | Vanguard Utilities ETF | ETF-Other | 2.35% | +0.03% | -1.21% | |
| 11 | VZ | Verizon Communications INC | Stock-Comm Services | 2.13% | +0.20% | -6.86% | |
| 12 | DFGR | Dim Global Real Estate ETF | ETF-Other | 2.13% | +0.08% | +7.17% | |
| 13 | DFEM | Dimensional Emrg Mrkt Core | ETF-Other | 2.08% | +0.04% | +1.57% | |
| 14 | DFAT | Dimensional US Target Value | ETF-Other | 1.99% | -0.02% | -1.93% | |
| 15 | VSDM | Vanguard Short Tax-ex Bond | ETF-Other | 1.98% | +1.91% | +2707.04% | |
| 16 | DFAW | Dimensional World Eqty ETF | ETF-Other | 1.87% | — | +0.99% | |
| 17 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 1.80% | — | -3.13% | |
| 18 | IAU | Ishares Gold Trust | ETF-Commodities | 1.79% | -0.14% | -10.83% | |
| 19 | MRK | Merck & Co. INC. | Stock-Healthcare | 1.78% | +0.42% | +19.13% | |
| 20 | DFAX | Dimensional World Ex US Core | ETF-Other | 1.76% | — | -2.11% | |
| 21 | VBR | Vanguard Small-cap Value ETF | ETF-Other | 1.49% | -0.02% | +0.50% | |
| 22 | VB | Vanguard Small-cap ETF | ETF-Other | 1.48% | -0.01% | +1.65% | |
| 23 | VNQ | Vanguard Real Estate ETF | ETF-Other | 1.41% | — | +0.96% | |
| 24 | SHV | Ishares 0-1 Year Treasury Bo | ETF-Gov Bonds | 1.26% | — | +1.93% | |
| 25 | DFSV | Dimensional US Small Cap Val | ETF-Small Cap | 1.21% | +0.05% | +2.40% | |
| 26 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.21% | +0.09% | -5.12% | |
| 27 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 1.15% | — | +4.44% | |
| 28 | AMGN | Amgen INC | Stock-Healthcare | 1.10% | +0.16% | +13.17% | |
| 29 | DFNM | Dimensional National Muni Bd | ETF-Other | 1.05% | +0.17% | +24.23% | |
| 30 | DFLV | Dim US Large Cap Value ETF | ETF-Large Cap & Growth | 1.04% | +0.16% | +16.85% | |
| 31 | SCHO | Schwab Short-term US Treas | ETF-Other | 0.98% | +0.06% | +10.94% | |
| 32 | VTEB | Vanguard Tax-exempt Bond ETF | ETF-Other | 0.91% | — | -1.29% | |
| 33 | VWO | Vanguard Ftse Emerging Marke | ETF-Emerging Markets | 0.85% | — | -0.29% | |
| 34 | SPDW | Ste Str Spdr Pt Dw EU ETF | ETF-Other | 0.75% | — | -3.08% | |
| 35 | SPYV | Ss Spdr P S&p 500 Value ETF | ETF-Large Cap & Growth | 0.74% | — | -1.02% | |
| 36 | VCIT | Vanguard Int-term Corporate | ETF-Corp Bonds | 0.71% | — | +0.21% | |
| 37 | VGSH | Vanguard Short-term Treasury | ETF-Gov Bonds | 0.66% | — | +2.11% | |
| 38 | SHY | Ishares 1-3 Year Treasury Bo | ETF-Gov Bonds | 0.62% | — | -3.95% | |
| 39 | DFAI | Dimensional International Co | ETF-Other | 0.62% | — | +2.25% | |
| 40 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.61% | — | — | |
| 41 | SCHB | Schwab US Broad Market ETF | ETF-Other | 0.58% | -0.12% | -10.23% | |
| 42 | BSV | Vanguard Short-term Bond ETF | ETF-Other | 0.56% | +0.03% | +11.74% | |
| 43 | SPYM | Ste Str Spdr Pt S&p 500 ETF | ETF-Large Cap & Growth | 0.55% | -0.07% | -2.34% | |
| 44 | AGG | Ishares Core U.s. Aggregate | ETF-Other | 0.50% | +0.03% | +11.70% | |
| 45 | SCHA | Schwab US Small-cap ETF | ETF-Other | 0.50% | — | -2.66% | |
| 46 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 0.49% | — | -0.26% | |
| 47 | SCHX | Schwab US Large-cap ETF | ETF-Other | 0.49% | — | -0.53% | |
| 48 | DFGP | Dimensional Glbl Core Pl Fix | ETF-Other | 0.43% | — | +5.33% | |
| 49 | DFIV | Dimensional International Va | ETF-Other | 0.42% | — | — | |
| 50 | DFSD | Dimensional Short Duration | ETF-Other | 0.42% | — | +8.15% |
Performance for Q3 2026
+2.4%
Performance Last 4 Quarters
+21.2%
Based on 52% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 132 | $448.3M | 10 | |
| 2025-12-31 | 129 | $430.9M | 9 | |
| 2025-09-30 | 134 | $416.2M | 51 | |
| 2025-06-30 | 133 | $391.8M | 0 | |
| 2025-03-31 | 157 | $568.1M | 11 | |
| 2024-12-31 | 157 | $565.0M | 100 | |
| 2024-09-30 | 157 | $598.7M | 0 | |
| 2024-06-30 | 156 | $564.7M | 0 | |
| 2024-03-31 | 155 | $564.2M | 0 | |
| 2023-12-31 | 146 | $530.4M | 0 | |
| 2023-09-30 | 134 | $468.2M | 0 | |
| 2023-06-30 | 140 | $493.5M | 0 | |
| 2023-03-31 | 134 | $486.2M | 0 | |
| 2022-12-31 | 134 | $486.2M | 0 | |
| 2022-09-30 | 120 | $420.3M | 0 | |
| 2022-06-30 | 121 | $438.8M | 0 | |
| 2022-03-31 | 123 | $455.4M | 0 | |
| 2021-12-31 | 124 | $456.5M | 0 | |
| 2021-09-30 | 122 | $445.6M | 0 | |
| 2021-06-30 | 123 | $434.2M | 100 | |
| 2021-03-31 | 119 | $369.4M | 20 | |
| 2020-12-31 | 139 | $329.2M | 25 | |
| 2020-09-30 | 135 | $298.0M | 13 | |
| 2020-06-30 | 134 | $284.5M | 19 | |
| 2020-03-31 | 135 | $260.9M | 27 | |
| 2019-12-31 | 140 | $330.9M | 12 | |
| 2019-09-30 | 135 | $318.5M | 7 | |
| 2019-06-30 | 133 | $315.2M | 22 | |
| 2019-03-31 | 128 | $314.5M | 23 | |
| 2018-12-31 | 114 | $280.8M | 27 | |
| 2018-09-30 | 117 | $296.6M | 10 | |
| 2018-06-30 | 115 | $289.4M | 13 | |
| 2018-03-31 | 118 | $282.7M | 18 | |
| 2017-12-31 | 115 | $273.7M | 11 | |
| 2017-09-30 | 111 | $261.2M | 12 | |
| 2017-06-30 | 111 | $252.3M | 7 | |
| 2017-03-31 | 106 | $246.0M | 12 | |
| 2016-12-31 | 101 | $239.5M | 13 | |
| 2016-09-30 | 102 | $240.4M | 15 | |
| 2016-06-30 | 95 | $231.2M | 21 | |
| 2016-03-31 | 87 | $204.1M | 20 | |
| 2015-12-31 | 80 | $183.8M | 27 | |
| 2015-09-30 | 79 | $179.6M | 14 | |
| 2015-06-30 | 83 | $187.4M | 13 | |
| 2015-03-31 | 76 | $184.3M | 14 | |
| 2014-12-31 | 77 | $183.6M | 12 | |
| 2014-09-30 | 76 | $180.9M | 11 | |
| 2014-06-30 | 77 | $183.6M | 25 | |
| 2014-03-31 | 73 | $173.9M | 10 | |
| 2013-12-31 | 68 | $167.7M | 10 | |
| 2013-09-30 | 66 | $159.8M | 23 | |
| 2013-06-30 | 73 | $159.4M | — |
American Investment Services, Inc.'s most significant position changes for 2026-03-31: New buy: Unitedhealth Group INC (UNH); Sold out: Cisco Systems INC (CSCO); New buy: Interactive Brokers Gro-cl A (IBKR); Sold out: Caterpillar INC (CAT); New buy: Nike INC -cl B (NKE).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | VSDM | Vanguard Short Tax-ex Bond | +1.9% | +2707.04% | Add |
| 2 | CVX | Chevron CORP | +0.6% | -0.70% | Trim |
| 3 | MRK | Merck & Co. INC. | +0.4% | +19.13% | Add |
| 4 | VZ | Verizon Communications INC | +0.2% | -6.86% | Trim |
| 5 | DFNM | Dimensional National Muni Bd | +0.2% | +24.23% | Add |
| 6 | AMGN | Amgen INC | +0.2% | +13.17% | Add |
| 7 | DFLV | Dim US Large Cap Value ETF | +0.2% | +16.85% | Add |
| 8 | JNJ | Johnson & Johnson | +0.1% | -5.12% | Trim |
| 9 | DFGR | Dim Global Real Estate ETF | +0.1% | +7.17% | Add |
| 10 | SCHO | Schwab Short-term US Treas | +0.1% | +10.94% | Add |
| 11 | DFIC | Dimensional International Co | +0.1% | +2.65% | Add |
| 12 | DFSV | Dimensional US Small Cap Val | +0.1% | +2.40% | Add |
| 13 | DFEM | Dimensional Emrg Mrkt Core | 0% | +1.57% | Add |
| 14 | VPU | Vanguard Utilities ETF | 0% | -1.21% | Trim |
| 15 | BSV | Vanguard Short-term Bond ETF | 0% | +11.74% | Add |
| 16 | AGG | Ishares Core U.s. Aggregate | 0% | +11.70% | Add |
| 17 | EQIX | Equinix INC | 0% | — | Unchanged |
| 18 | VTIP | Vanguard Short-term Tips | 0% | +30.98% | Add |
| 19 | BND | Vanguard Total Bond Market | 0% | +16.31% | Add |
| 20 | VTV | Vanguard Value ETF | 0% | +0.75% | Add |
| 21 | VB | Vanguard Small-cap ETF | 0% | +1.65% | Add |
| 22 | DFAT | Dimensional US Target Value | 0% | -1.93% | Trim |
| 23 | VBR | Vanguard Small-cap Value ETF | 0% | +0.50% | Add |
| 24 | DFUS | Dimensional US Eq Mkt ETF | -0.1% | +7.14% | Add |
| 25 | DFVX | Dim US Large Cap Vector ETF | -0.1% | -21.12% | Trim |
| 26 | DFUV | Dimensional US Marketwide Va | -0.1% | -1.12% | Trim |
| 27 | IWF | Ishares Russell 1000 Growth | -0.1% | -3.83% | Trim |
| 28 | LLY | Eli Lilly & Co | -0.1% | +1.00% | Add |
| 29 | VSDB | Vanguard Short Dur Bond ETF | -0.1% | -23.90% | Trim |
| 30 | IVW | Ishares S&p 500 Growth ETF | -0.1% | -2.41% | Trim |
| 31 | SPYM | Ste Str Spdr Pt S&p 500 ETF | -0.1% | -2.34% | Trim |
| 32 | DOW | Dow INC | -0.1% | -65.36% | Trim |
| 33 | SCHB | Schwab US Broad Market ETF | -0.1% | -10.23% | Trim |
| 34 | VYMI | Vanguard Int High Dvd Yld In | -0.1% | -3.25% | Trim |
| 35 | IAU | Ishares Gold Trust | -0.1% | -10.83% | Trim |
| 36 | DFCF | Dimensional Core Fixed INC | -0.2% | -68.96% | Trim |
| 37 | IBM | Intl Business Machines CORP | -0.4% | -56.57% | Trim |
| 38 | GLDM | Spdr Gold Minishares Trust | -0.5% | -8.51% | Trim |
| 39 | VUG | Vanguard Growth ETF | -1.2% | +0.15% | Add |
| 40 | UNH | Unitedhealth Group INC | — | NEW | New buy |
| 41 | CSCO | Cisco Systems INC | — | EXIT | Sold out |
| 42 | IBKR | Interactive Brokers Gro-cl A | — | NEW | New buy |
| 43 | CAT | Caterpillar INC | — | EXIT | Sold out |
| 44 | NKE | Nike INC -cl B | — | NEW | New buy |
| 45 | AMZN | Amazon.com INC | — | NEW | New buy |
| 46 | HON | Honeywell International INC | — | NEW | New buy |
| 47 | VT | Vanguard Tot World Stk ETF | — | NEW | New buy |
| 48 | SBAC | Sba Communications CORP | — | EXIT | Sold out |
| 49 | VCSH | Vanguard S/t CORP Bond ETF | — | NEW | New buy |
| 50 | PFE | Pfizer INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-13 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-13 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-13 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-13 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-13 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-03-03 | Amendment | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-13 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-12 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-08 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-06 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-09 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-02 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-10 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-08 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-09 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-03 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-10 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-05 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-10-29 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-03 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-28 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-01-29 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-08 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-06 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-06 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-01-18 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-22 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-03 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-04-13 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-09 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-10-12 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-11 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-04-07 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-10-28 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-15 | Amendment | View on EDGAR |
| 2016-06-30 | 2016-07-12 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-12 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-10 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-12 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-07-08 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-04-17 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-05 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-10-21 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-07-22 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-04-24 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-01-08 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-10-16 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-06 | 13F-HR | View on EDGAR |
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