First Bank & Trust

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 28, 2025), First Bank & Trust reported 232 stock positions worth $516.4 million. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 11.5% of the portfolio, followed by Vanguard Ftse Developed ETF (VEA, 8.4%) and iShares Core U.S. Aggregate (AGG, 5.3%). Compared with Q4 2024, it opened 9 new positions, sold out of 13, added to 85 and reduced 95. The biggest buy was Vanguard S&P 500 ETF (VOO, shares +26%) and the biggest sale Daktronics (DAKT, shares −7%).

Most Recent 13F
Q2 2026
Location
BROOKINGS, SD
CIK
0001692632
Portfolio Value
$516.4M (Q1 2025)
SEC Filing
0001692632-25-000003 ↗ filed Apr 28, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $483.8M Q1 2024 Q2 2024: $491.0M Q2 2024 Q3 2024: $526.9M Q3 2024 Q4 2024: $521.0M Q4 2024 Q1 2025: $516.4M $516.4M Q1 2025 Q2 2025: $560.5M Q2 2025 Q3 2025: $594.2M Q3 2025 Q4 2025: $613.9M Q4 2025 Q1 2026: $620.8M Q1 2026 Q2 2026: $680.0M Q2 2026

Holdings 232 stocks · $516.4M
VTI VG Morningstar TS MKT ETF-US 11.53% 216,594 $59.5M No change
VEA Vanguard Ftse Developed ETF 8.43% 856,546 $43.5M Reduce -4.3%
AGG iShares Core U.S. Aggregate 5.30% 276,786 $27.4M Reduce -0.3%
VOO Vanguard S&P 500 ETF 4.09% 41,113 $21.1M Add +25.7%
VWO Vanguard Ftse Emerging Marke 3.98% 454,684 $20.6M Reduce -3.3%
MSFT Microsoft Corp. 2.54% 34,968 $13.1M Add +0.1%
IJR iShares Core S&P Small-Cap E 2.51% 124,093 $13.0M Add +8.2%
IJH iShares Core S&P Midcap ETF 2.36% 208,696 $12.2M Add +13.3%
DAKT Daktronics Inc. 1.75% 742,252 $9.0M Reduce -7.4%
VOOV Vanguard S&P 500 Value ETF 1.63% 45,762 $8.4M No change
Big Sioux Financial Class A 1.32% 101 $6.8M No change
VIOV Vanguard S&P Small-Cap 600 V 1.27% 78,422 $6.6M No change
CATH Global X S&P 500 Ca Val ETF 1.17% 89,562 $6.0M No change
PM Philip Morris International 1.11% 35,970 $5.7M Reduce -2.5%
GILD Gilead Sciences Inc. 1.09% 50,437 $5.7M Reduce -2.9%
AMZN Amazon.com Inc. 1.01% 27,439 $5.2M Add +3.1%
NVDA Nvidia Corp. 0.97% 46,070 $5.0M Add +2.2%
VZ Verizon Communications Inc. 0.94% 107,066 $4.9M Reduce -1.6%
DUK Duke Energy Corp. 0.91% 38,396 $4.7M Reduce -2.3%
WMB Williams Cos Inc. 0.86% 74,569 $4.5M Reduce -9.2%
SO The Southern Co. 0.85% 47,826 $4.4M Reduce -2.2%
MA Mastercard Inc. Class A 0.85% 8,004 $4.4M Add +0.9%
META Meta Platforms Inc. Class A 0.83% 7,479 $4.3M Reduce -8.8%
TTE Totalenergies SE -Spon ADR 0.83% 66,225 $4.3M Add +17.4%
GOOG Alphabet Inc. Class C 0.80% 26,402 $4.1M Reduce -0.3%
XEL Xcel Energy Inc. 0.79% 57,962 $4.1M Reduce -3.6%
T AT&T Inc. 0.77% 140,159 $4.0M Reduce -7.6%
ENB Enbridge Inc. 0.77% 89,401 $4.0M Add +1.4%
CVX Chevron Corp. 0.77% 23,647 $4.0M Add +24.1%
BMY Bristol-Myers Squibb Co. 0.76% 64,717 $3.9M Add +7.4%
COST Costco Wholesale Corp. 0.75% 4,107 $3.9M No change
ABBV Abbvie Inc. 0.74% 18,146 $3.8M Add +5.6%
PGR Progressive Corp. 0.71% 12,984 $3.7M Reduce -0.6%
SNY Sanofi-ADR 0.69% 64,565 $3.6M Add +13.3%
AAPL Apple Inc. 0.67% 15,587 $3.5M Add +0.0%
NOW ServiceNow Inc. 0.66% 4,267 $3.4M Reduce -1.5%
INTU Intuit Inc. 0.65% 5,485 $3.4M Add +0.1%
CTAS Cintas Corp. 0.65% 16,218 $3.3M Add +0.0%
ISRG Intuitive Surgical Inc. 0.64% 6,704 $3.3M Reduce -6.9%
USB US Bancorp 0.64% 77,935 $3.3M Reduce -4.1%
AMGN Amgen Inc. 0.64% 10,530 $3.3M Add +9.0%
ETR Entergy Corp. 0.63% 37,944 $3.2M Reduce -2.2%
VPL Vanguard Ftse Pacific ETF 0.61% 43,465 $3.1M No change
PNC PNC Financial Services Group 0.58% 17,185 $3.0M Reduce -5.4%
NGG National Grid PLC-SP ADR 0.58% 45,901 $3.0M Add +16.6%
AEP American Electric Power 0.57% 27,002 $3.0M Reduce -0.6%
HBAN Huntington Bancshares Inc. 0.56% 194,129 $2.9M Reduce -2.1%
IVV iShares Core S&P 500 ETF 0.56% 5,112 $2.9M Add +49.7%
UBER Uber Technologies Inc. 0.55% 38,634 $2.8M Add +11.1%
TRP TC Energy Corp. 0.53% 58,376 $2.8M Reduce -0.0%
JPM JPMorgan Chase & Co. 0.50% 10,509 $2.6M Reduce -1.2%
GLD SPDR Gold Shares 0.50% 8,940 $2.6M No change
TFC Truist Financial Corp. 0.46% 58,218 $2.4M Reduce -1.3%
HLT Hilton Worldwide Holdings Inc. 0.46% 10,439 $2.4M Add +0.5%
KVUE Kenvue Inc. 0.44% 95,152 $2.3M Add +1.0%
PLD Prologis Inc. 0.43% 19,739 $2.2M Add +22.1%
ADSK Autodesk Inc. 0.42% 8,301 $2.2M Add +1.4%
SPGI S&P Global Inc. 0.39% 3,965 $2.0M Reduce -1.5%
O Realty Income Corp. 0.39% 34,633 $2.0M Add +0.8%
CSGP Costar Group Inc. 0.38% 24,737 $2.0M Add +18.7%
BRK.B Berkshire Hathaway Inc. Class B 0.36% 3,461 $1.8M Add +3.3%
KO The Coca-Cola Co. 0.36% 25,637 $1.8M Reduce -0.9%
NFLX Netflix Inc. 0.35% 1,919 $1.8M Add +30.0%
VGK Vanguard Ftse Europe ETF 0.35% 25,485 $1.8M No change
PFE Pfizer Inc. 0.34% 69,478 $1.8M Add +4.6%
XOM Exxon Mobil Corp. 0.34% 14,752 $1.8M Add +38.3%
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM 0.34% 31,052 $1.7M Reduce -14.5%
JNJ Johnson & Johnson 0.33% 10,421 $1.7M Add +61.1%
LYB Lyondellbasell Indu Class A 0.32% 23,628 $1.7M Add +11.4%
PPL PPL Corp. 0.31% 44,615 $1.6M Reduce -9.2%
IEFA iShares Core MSCI Eafe ETF 0.31% 21,246 $1.6M Reduce -5.0%
MRVL Marvell Technology Inc. 0.31% 25,935 $1.6M Add +9.1%
WDAY Workday Inc. Class A 0.30% 6,639 $1.6M Add +10.1%
EMXC iShares MSCI Emr MRK Ex Chna 0.30% 27,895 $1.5M No change
CB Chubb Ltd. 0.30% 5,055 $1.5M Add +530.3%
GOOGL Alphabet Inc. Class A 0.29% 9,537 $1.5M Reduce -0.8%
VLTO Veralto Corp. 0.29% 15,126 $1.5M Add +0.6%
MS Morgan Stanley 0.28% 12,464 $1.5M Reduce -1.0%
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.28% 15,214 $1.5M Add +31.2%
V Visa Inc. Class A 0.27% 4,049 $1.4M Add +2.2%
ZTS Zoetis Inc. 0.27% 8,523 $1.4M Reduce -1.2%
WFC Wells Fargo & Co. 0.27% 19,509 $1.4M No change
CCB Coastal Financial Corp. 0.26% 14,745 $1.3M Reduce -11.9%
TDG Transdigm Group Inc. 0.24% 892 $1.2M Add +0.1%
NXPI NXP Semiconductors NV 0.23% 6,261 $1.2M Add +3.2%
EEM iShares MSCI Emerging Market 0.23% 26,947 $1.2M No change
GNRC Generac Holdings Inc. 0.22% 9,054 $1.1M Reduce -1.4%
ARE Alexandria Real Estate Equit 0.22% 12,112 $1.1M Add +12.2%
PAYX Paychex Inc. 0.21% 6,878 $1.1M Add +0.9%
DEO Diageo PLC-Sponsored ADR 0.20% 9,955 $1.0M Add +16.8%
BTI British American Tob-SP ADR 0.19% 24,206 $1.0M Reduce -18.1%
IWF iShares Russell 1000 Growth 0.19% 2,738 $989K Reduce -1.4%
ADBE Adobe Inc. 0.19% 2,566 $984K Reduce -21.1%
AMCR Amcor PLC 0.18% 98,271 $953K Reduce -4.5%
VEEV Veeva Systems Inc. Class A 0.18% 3,988 $924K Add +0.2%
DE Deere & Co. 0.17% 1,881 $883K Reduce -3.2%
IWD iShares Russell 1000 Value E 0.17% 4,596 $865K Reduce -2.2%
KKR KKR & Co. Inc. 0.17% 7,422 $858K Add +1.3%
D Dominion Energy Inc. 0.16% 14,672 $823K Reduce -49.5%
BRK.A Berkshire Hathaway Inc. Class A 0.15% 1 $798K No change

Show all 232 holdings

Other holdings (1): bonds, preferreds, convertibles and warrants · $2K (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & CO FR 5.389 04243 Fixed Income · principal 2,000$2KNew

Total filed on the 13F, all lines: $516.4M.

Portfolio Sells Q4 2024 → Q1 2025
DAKT Daktronics Inc. Reduce -7.4% 1.75% −0.84
NOW ServiceNow Inc. Reduce -1.5% 0.66% −0.22
GOOG Alphabet Inc. Class C Reduce -0.3% 0.80% −0.17
D Dominion Energy Inc. Reduce -49.5% 0.16% −0.14
TMO Thermo Fisher Scientific Inc. Reduce -49.6% 0.12% −0.12
USB US Bancorp Reduce -4.1% 0.64% −0.11
CM Can Imperial BK of Commerce Reduce -14.5% 0.34% −0.10
PNC PNC Financial Services Group Reduce -5.4% 0.58% −0.09
ADBE Adobe Inc. Reduce -21.1% 0.19% −0.09
META Meta Platforms Inc. Class A Reduce -8.8% 0.83% −0.09
KMB Kimberly-Clark Corp. Reduce -47.9% 0.11% −0.08
ISRG Intuitive Surgical Inc. Reduce -6.9% 0.64% −0.08
CAG Conagra Brands Inc. Sold out 0.00% −0.08
GOOGL Alphabet Inc. Class A Reduce -0.8% 0.29% −0.06
BSY Bentley Systems Inc. Class B Sold out 0.00% −0.06
BX Blackstone Inc. Sold out 0.00% −0.06
HBAN Huntington Bancshares Inc. Reduce -2.1% 0.56% −0.05
PI Impinj Inc. Sold out 0.00% −0.05
GNRC Generac Holdings Inc. Reduce -1.4% 0.22% −0.05
ALGN Align Technology Inc. Reduce -15.3% 0.10% −0.05
FCN Fti Consulting Inc. Sold out 0.00% −0.05
BCE Bce Inc. Sold out 0.00% −0.05
SOBO South Bow Corp. Sold out 0.00% −0.04
FAF First American Financial Sold out 0.00% −0.04
MSGS Madison Square Garden Sports Sold out 0.00% −0.04
TGT Target Corp. Sold out 0.00% −0.04
ZETA Zeta Global Holdings Corp. Class A Sold out 0.00% −0.04
A Agilent Technologies Inc. Sold out 0.00% −0.04
UPS United Parcel Service Class B Reduce -7.2% 0.13% −0.03
NPKI NPK International Inc. Sold out 0.00% −0.03
TFC Truist Financial Corp. Reduce -1.3% 0.46% −0.03
PSN Parsons Corp. Reduce -2.7% 0.04% −0.03
AMD Advanced Micro Devices Reduce -13.5% 0.07% −0.02
MRK Merck & Co. Inc. Reduce -12.4% 0.10% −0.02
AVTR Avantor Inc. Reduce -10.3% 0.05% −0.02
EVR Evercore Inc. Class A Reduce -0.2% 0.06% −0.02
IWF iShares Russell 1000 Growth Reduce -1.4% 0.19% −0.02
MS Morgan Stanley Reduce -1.0% 0.28% −0.02
DKS Dick's Sporting Goods Inc. Reduce -4.2% 0.12% −0.02
POOL Pool Corp. Reduce -14.7% 0.08% −0.02
SMCI Super Micro Computer Inc. Reduce -35.2% 0.05% −0.02
ORCL Oracle Corp. Reduce -1.4% 0.08% −0.02
CCB Coastal Financial Corp. Reduce -11.9% 0.26% −0.01
ROP Roper Technologies Inc. Reduce -20.8% 0.14% −0.01
BTI British American Tob-SP ADR Reduce -18.1% 0.19% −0.01
PCOR Procore Technologies Inc. Reduce -2.0% 0.07% −0.01
IEX Idex Corp. Reduce -9.9% 0.04% −0.01
VIRT Virtu Financial Inc. Class A Reduce -14.3% 0.11% −0.01
NCNO Ncino Inc. Reduce -0.3% 0.04% −0.01
CAT Caterpillar Inc. Reduce -8.4% 0.04% −0.01

Portfolio Buys Q4 2024 → Q1 2025
VOO Vanguard S&P 500 ETF Add +25.7% 4.09% +0.71
CB Chubb Ltd. Add +530.3% 0.30% +0.25
TTE Totalenergies SE -Spon ADR Add +17.4% 0.83% +0.24
CVX Chevron Corp. Add +24.1% 0.77% +0.24
IVV iShares Core S&P 500 ETF Add +49.7% 0.56% +0.17
SNY Sanofi-ADR Add +13.3% 0.69% +0.17
JNJ Johnson & Johnson Add +61.1% 0.33% +0.16
IJH iShares Core S&P Midcap ETF Add +13.3% 2.36% +0.15
AMGN Amgen Inc. Add +9.0% 0.64% +0.15
ABBV Abbvie Inc. Add +5.6% 0.74% +0.15
UBER Uber Technologies Inc. Add +11.1% 0.55% +0.14
NGG National Grid PLC-SP ADR Add +16.6% 0.58% +0.13
XOM Exxon Mobil Corp. Add +38.3% 0.34% +0.12
BMY Bristol-Myers Squibb Co. Add +7.4% 0.76% +0.11
PLD Prologis Inc. Add +22.1% 0.43% +0.10
NFLX Netflix Inc. Add +30.0% 0.35% +0.09
CSGP Costar Group Inc. Add +18.7% 0.38% +0.09
CTAS Cintas Corp. Add +0.0% 0.65% +0.08
BMO Bank of Montreal Add +31.2% 0.28% +0.07
BRK.B Berkshire Hathaway Inc. Class B Add +3.3% 0.36% +0.07
KVUE Kenvue Inc. Add +1.0% 0.44% +0.06
SOLV Solventum Corp. New 0.05% +0.05
PEP Pepsico Inc. Add +62.5% 0.14% +0.05
ENB Enbridge Inc. Add +1.4% 0.77% +0.05
MA Mastercard Inc. Class A Add +0.9% 0.85% +0.05
IMCG iShares Morningstar Mid-Cap Add +85.0% 0.11% +0.05
NOMD Nomad Foods Ltd. New 0.04% +0.04
EOG EOG Resources Inc. New 0.04% +0.04
WEC WEC Energy Group Inc. New 0.04% +0.04
DRI Darden Restaurants Inc. New 0.04% +0.04
BFAM Bright Horizons Family Solut New 0.04% +0.04
FCFS Firstcash Holdings Inc. New 0.04% +0.04
QXO Qxo Inc. New 0.04% +0.04
O Realty Income Corp. Add +0.8% 0.39% +0.04
V Visa Inc. Class A Add +2.2% 0.27% +0.03
GWRE Guidewire Software Inc. Add +13.6% 0.11% +0.02
RBBN Ribbon Communications Inc. New 0.02% +0.02
TDG Transdigm Group Inc. Add +0.1% 0.24% +0.02
PAYX Paychex Inc. Add +0.9% 0.21% +0.02
LYB Lyondellbasell Indu Class A Add +11.4% 0.32% +0.02
CDNS Cadence Design SYS Inc. Add +36.8% 0.14% +0.02
VEEV Veeva Systems Inc. Class A Add +0.2% 0.18% +0.02
AIG American International Group Add +0.2% 0.10% +0.02
EVLV Evolv Technologies Holdings Add +305.8% 0.03% +0.02
BBIO Bridgebio Pharma Inc. Add +13.7% 0.06% +0.02
ELV Elevance Health Inc. Add +10.6% 0.07% +0.02
ARE Alexandria Real Estate Equit Add +12.2% 0.22% +0.01
CSTL Castle Biosciences Inc. Add +75.5% 0.06% +0.01
FISV Fiserv Inc. Add +6.0% 0.11% +0.01
UNH Unitedhealth Group Inc. Add +5.5% 0.15% +0.01

Notes & Other Activity Q4 2024 → Q1 2025
WELLS FARGO & CO FR 5.389 04243 Fixed Income · principal New 2,000 $2K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 270$680.0MVTI, VEA, AGG, VOO, VWO
Q1 2026 257$620.8MVTI, VEA, AGG, VOO, VWO
Q4 2025 260$613.9MVTI, VEA, AGG, VWO, VOO
Q3 2025 257$594.2MVTI, VEA, AGG, VWO, VOO
Q2 2025 242$560.5MVTI, VEA, AGG, VOO, VWO
Q1 2025 232$516.4MVTI, VEA, AGG, VOO, VWO
Q4 2024 236$521.0MVTI, VEA, AGG, VWO, VOO
Q3 2024 233$526.9MVTI, VEA, AGG, VWO, VOO
Q2 2024 225$491.0MVTI, VEA, AGG, VWO, VOO
Q1 2024 230$483.8MVTI, VEA, AGG, VWO, VOO