AMI INVESTMENT MANAGEMENT INC

RIA/Wealth

AMI INVESTMENT MANAGEMENT INC is a RIA/Wealth based in Kendallville, IN led by Michael Duane Axel, reporting $838.6M in AUM as of Q3 2025 with 69% ETF concentration and 59% concentrated in top 10 holdings.

PresidentMichael Duane Axel

Portfolio Value: $431.1M
Positions: 71
Top Holding: VGT at 11.64%
Last Reported: Q3 2025

Address710 N Krueger Street, Kendallville, IN, 46755, United States

Top Holdings

Largest long holdings in AMI INVESTMENT MANAGEMENT INC's portfolio (58.6% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Vanguard Information Technology VGT	ETF ETF	$50.2M	11.64%	+$2.0M Bought	— 67.2K shares	Q3 2015 Held for 10y 2m
2 Vanguard Short-Term Treasury VGSH	ETF ETF	$48.2M	11.19%	+$961.8K Bought	— 819.4K shares	Q3 2023 Held for 2y 2m
3 Vanguard Short-Term Corporate Bond VCSH	ETF ETF	$38.9M	9.03%	+$3.4M Bought	— 486.9K shares	Q1 2016 Held for 9y 8m
4 VCRB Vanguard Core Bond VCRB	ETF ETF	$33.2M	7.71%	+$19.6M Bought	— 423.7K shares	Q2 2025 Held for 5 months
5 Vanguard Intermediate-Term Treasury VGIT	ETF ETF	$18.4M	4.28%	+$4.1M Bought	— 307.2K shares	Q4 2022 Held for 2y 11m
6 Berkshire Hathaway BRK.B	Insurance - Diversified Financial Services	$15.5M	3.61%	-$48.8K Sold	0.00% 30.9K shares	Q2 2025 Held for 5 months
7 SPDR S&P 500 ETF Trust SPY	ETF ETF	$13.5M	3.14%	+$3.3K Bought	— 20.3K shares	≤ Q2 2013 Held for 12y 5m+
8 Harbor International Compounders OSEA	ETF ETF	$12.6M	2.92%	-$3.6M Sold	— 425.3K shares	Q2 2024 Held for 1y 5m
9 Microsoft MSFT	Software - Infrastructure Technology	$11.1M	2.58%	-$884.1K Sold	0.00% 21.4K shares	≤ Q2 2013 Held for 12y 5m+
10 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$11.0M	2.55%	-$338.5K Sold	0.00% 45.2K shares	Q3 2023 Held for 2y 2m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in AMI INVESTMENT MANAGEMENT INC's latest filing

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Market Value

$431.1M

Prior: $387.4M

Q/Q Change

+11.29%

+$43.7M

Net Flows % of MV

+4.98%

Turnover Ratio

7.31%

New Purchases

1 stocks

$1.2M

Added To

18 stocks

+$39.2M

Sold Out Of

6 stocks

$5.5M

Reduced Holdings

36 stocks

-$13.5M

Increased Positions

Position	Shares Δ	Change
1 Industrial Select Sector SPDR Fund XLI	New	0 → 7.8K +$1.2M
2 Schwab U.S. Large-Cap Growth SCHG	+194.48%	52.4K → 154.4K +$3.3M
3 VCRB Vanguard Core Bond VCRB	+144.36%	173.4K → 423.7K +$19.6M
4 Vanguard Value VTV	+50.33%	27.1K → 40.8K +$2.5M
5 Vanguard Intermediate-Term Treasury VGIT	+29.03%	238.1K → 307.2K +$4.1M

Decreased Positions

Position	Shares Δ	Change
1 Micron Technology MU	Sold	25.8K → 0 −$3.2M
2 Vanguard Intermediate-Term Corporate Bond VCIT	Sold	14.8K → 0 −$1.2M
3 iShares National Muni Bond MUB	Sold	3.9K → 0 −$412.4K
4 Costco Wholesale COST	Sold	218.0 → 0 −$215.8K
5 Coca-Cola KO	Sold	3.0K → 0 −$213.2K