Institutional Manager · CIK 0001369913

American Investment Services, Inc.

GREAT BARRINGTON, MA · File #028-12178

Latest AUM

$430.9M

Positions

129

Top-10 Concentration

51.4%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
REDUCE	WORLD GOLD TR	GLDW	-50,361	-$4.3M	+$5.0M
NEW	SCHWAB STRATEGIC TR	808524102	+114,611	+$3.0M	$0
REDUCE	ISHARES GOLD TR	IAU	-25,959	-$2.1M	+$1.1M
ADD	DIMENSIONAL ETF TRUST	25434V658	+54,715	+$1.4M	-$249,130
REDUCE	INTERNATIONAL BUSINESS MACHS	INTR	-4,729	-$1.4M	+$201,631
REDUCE	EXXON MOBIL CORP	XOM	-10,510	-$1.3M	+$124,143
ADD	DIMENSIONAL ETF TRUST	25434V799	+33,191	+$1.1M	+$591,402
EXITED	3M CO	88579Y101	-7,156	-$1.1M	$0
NEW	VANGUARD MALVERN FDS	922020730	+14,236	+$1.1M	$0
ADD	MERCK & CO INC	MRK	+9,977	+$1.1M	+$977,468

Sector Allocation

Healthcare

3.9%$16.7M

Energy

2.2%$9.5M

Communication Services

1.9%$8.3M

1.1%$4.7M

0.5%$2.2M

0.5%$2.2M

0.3%$1.4M

0.2%$866,025

0.2%$897,044

Consumer Discretionary

0.2%$736,374

Filing History

Feb 13, 202613F HOLDINGS REPORTQ/E Dec 2025129 pos · $430.9M
Nov 13, 202513F HOLDINGS REPORTQ/E Sep 2025134 pos · $416.2M
Aug 13, 202513F HOLDINGS REPORTQ/E Jun 2025133 pos · $391.8M
May 13, 202513F HOLDINGS REPORTQ/E Mar 2025157 pos · $568.1M
Mar 3, 202513F HOLDINGS REPORT (Amended)Q/E Mar 2025157 pos · $565.0M
Feb 14, 202513F HOLDINGS REPORTQ/E Dec 2024157 pos · $598.7M
Nov 14, 202413F HOLDINGS REPORTQ/E Sep 2024157 pos · $598.7M
Aug 14, 202413F HOLDINGS REPORTQ/E Jun 2024156 pos · $564.7M
May 13, 202413F HOLDINGS REPORTQ/E Mar 2024155 pos · $564.2M
Nov 13, 202313F HOLDINGS REPORTQ/E Dec 2023134 pos · $468.2M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	WORLD GOLD TR	GLDW	512,994	$43.8M	11.64%
2	VANGUARD INDEX FDS	922908736	79,205	$38.6M	10.27%
3	DIMENSIONAL ETF TRUST	25434V724	485,791	$22.6M	6.01%
4	VANGUARD WHITEHALL FDS	921946794	224,655	$20.2M	5.37%
5	DIMENSIONAL ETF TRUST	25434V799	387,317	$13.3M	3.55%
6	DIMENSIONAL ETF TRUST	25434V500	181,990	$12.7M	3.37%
7	DIMENSIONAL ETF TRUST	25434V401	161,855	$12.0M	3.19%
8	VANGUARD INDEX FDS	922908744	59,640	$11.4M	3.03%
9	VANGUARD WORLD FD	92204A876	53,909	$10.0M	2.65%
10	DIMENSIONAL ETF TRUST	25434V658	334,634	$8.8M	2.35%
11	DIMENSIONAL ETF TRUST	25434V732	265,385	$8.8M	2.33%
12	CHEVRON CORP NEW	CVX	57,554	$8.8M	2.33%
13	DIMENSIONAL ETF TRUST	25434V609	145,467	$8.7M	2.30%
14	DIMENSIONAL ETF TRUST	25434V617	112,427	$8.3M	2.21%
15	VERIZON COMMUNICATIONS INC	VZ	203,991	$8.3M	2.21%
16	ISHARES GOLD TR	IAU	102,250	$8.3M	2.21%
17	VANGUARD TAX-MANAGED FDS	921943858	130,091	$8.1M	2.16%
18	DIMENSIONAL ETF TRUST	25434V880	237,370	$7.8M	2.06%
19	VANGUARD INDEX FDS	922908611	30,642	$6.5M	1.72%
20	VANGUARD INDEX FDS	922908751	24,957	$6.4M	1.71%