First Bank & Trust
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 9, 2025), First Bank & Trust reported 242 stock positions worth $560.5 million. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 11.7% of the portfolio, followed by Vanguard Ftse Developed ETF (VEA, 8.6%) and iShares Core U.S. Aggregate (AGG, 5.2%). Compared with Q1 2025, it opened 20 new positions, sold out of 10, added to 76 and reduced 106. The biggest buy was Meta Platforms Class A (META, shares +32%) and the biggest sale Bristol-Myers Squibb (BMY, shares −56%).
- Most Recent 13F
- Q2 2026
- Location
- BROOKINGS, SD
- CIK
- 0001692632
- Portfolio Value
- $560.5M (Q2 2025)
- SEC Filing
- 0001692632-25-000004 ↗ filed Jul 9, 2025
Holdings Value
Holdings 242 stocks · $560.5M
| VTI VG Morningstar TS MKT ETF-US | 11.66% | 214,991 | $65.3M | Reduce -0.7% |
| VEA Vanguard Ftse Developed ETF | 8.59% | 844,949 | $48.2M | Reduce -1.4% |
| AGG iShares Core U.S. Aggregate | 5.21% | 294,184 | $29.2M | Add +6.3% |
| VOO Vanguard S&P 500 ETF | 4.39% | 43,329 | $24.6M | Add +5.4% |
| VWO Vanguard Ftse Emerging Marke | 4.01% | 454,945 | $22.5M | Add +0.1% |
| MSFT Microsoft Corp. | 3.08% | 34,759 | $17.3M | Reduce -0.6% |
| IJR iShares Core S&P Small-Cap E | 2.48% | 127,156 | $13.9M | Add +2.5% |
| IJH iShares Core S&P Midcap ETF | 2.44% | 220,532 | $13.7M | Add +5.7% |
| DAKT Daktronics Inc. | 1.60% | 591,804 | $8.9M | Reduce -20.3% |
| VOOV Vanguard S&P 500 Value ETF | 1.54% | 45,762 | $8.6M | No change |
| META Meta Platforms Inc. Class A | 1.30% | 9,855 | $7.3M | Add +31.8% |
| NVDA Nvidia Corp. | 1.24% | 43,893 | $6.9M | Reduce -4.7% |
| Big Sioux Financial Class A | 1.22% | 101 | $6.8M | No change |
| CATH Global X S&P 500 Ca Val ETF | 1.21% | 89,562 | $6.8M | No change |
| VIOV Vanguard S&P Small-Cap 600 V | 1.20% | 78,422 | $6.7M | No change |
| AMZN Amazon.com Inc. | 1.06% | 27,062 | $5.9M | Reduce -1.4% |
| PM Philip Morris International | 1.03% | 31,640 | $5.8M | Reduce -12.0% |
| GILD Gilead Sciences Inc. | 0.87% | 43,836 | $4.9M | Reduce -13.1% |
| VZ Verizon Communications Inc. | 0.81% | 105,026 | $4.5M | Reduce -1.9% |
| DUK Duke Energy Corp. | 0.80% | 38,206 | $4.5M | Reduce -0.5% |
| MA Mastercard Inc. Class A | 0.79% | 7,881 | $4.4M | Reduce -1.5% |
| NOW ServiceNow Inc. | 0.78% | 4,237 | $4.4M | Reduce -0.7% |
| SO The Southern Co. | 0.77% | 46,783 | $4.3M | Reduce -2.2% |
| TTE Totalenergies SE -Spon ADR | 0.77% | 69,967 | $4.3M | Add +5.7% |
| INTU Intuit Inc. | 0.75% | 5,350 | $4.2M | Reduce -2.5% |
| ENB Enbridge Inc. | 0.75% | 92,936 | $4.2M | Add +4.0% |
| WMB Williams Cos Inc. | 0.75% | 66,553 | $4.2M | Reduce -10.8% |
| XEL Xcel Energy Inc. | 0.73% | 60,186 | $4.1M | Add +3.8% |
| NGG National Grid PLC-SP ADR | 0.71% | 53,452 | $4.0M | Add +16.4% |
| COST Costco Wholesale Corp. | 0.70% | 3,952 | $3.9M | Reduce -3.8% |
| GOOG Alphabet Inc. Class C | 0.70% | 22,039 | $3.9M | Reduce -16.5% |
| T AT&T Inc. | 0.67% | 130,164 | $3.8M | Reduce -7.1% |
| IVV iShares Core S&P 500 ETF | 0.66% | 5,937 | $3.7M | Add +16.1% |
| UBER Uber Technologies Inc. | 0.65% | 38,914 | $3.6M | Add +0.7% |
| VPL Vanguard Ftse Pacific ETF | 0.64% | 43,465 | $3.6M | No change |
| ABBV Abbvie Inc. | 0.63% | 19,036 | $3.5M | Add +4.9% |
| CTAS Cintas Corp. | 0.62% | 15,616 | $3.5M | Reduce -3.7% |
| HBAN Huntington Bancshares Inc. | 0.61% | 205,501 | $3.4M | Add +5.9% |
| CVX Chevron Corp. | 0.60% | 23,587 | $3.4M | Reduce -0.3% |
| PNC PNC Financial Services Group | 0.60% | 18,066 | $3.4M | Add +5.1% |
| SNY Sanofi-ADR | 0.59% | 68,717 | $3.3M | Add +6.4% |
| ISRG Intuitive Surgical Inc. | 0.59% | 6,091 | $3.3M | Reduce -9.1% |
| USB US Bancorp | 0.59% | 73,092 | $3.3M | Reduce -6.2% |
| PGR Progressive Corp. | 0.58% | 12,146 | $3.2M | Reduce -6.5% |
| AAPL Apple Inc. | 0.57% | 15,587 | $3.2M | No change |
| AMGN Amgen Inc. | 0.56% | 11,262 | $3.1M | Add +7.0% |
| JPM JPMorgan Chase & Co. | 0.53% | 10,202 | $3.0M | Reduce -2.9% |
| TRP TC Energy Corp. | 0.52% | 59,579 | $2.9M | Add +2.1% |
| NFLX Netflix Inc. | 0.51% | 2,144 | $2.9M | Add +11.7% |
| AEP American Electric Power | 0.50% | 26,985 | $2.8M | Reduce -0.1% |
| XOM Exxon Mobil Corp. | 0.49% | 25,354 | $2.7M | Add +71.9% |
| HLT Hilton Worldwide Holdings Inc. | 0.49% | 10,254 | $2.7M | Reduce -1.8% |
| GLD SPDR Gold Shares | 0.49% | 8,940 | $2.7M | No change |
| ADSK Autodesk Inc. | 0.48% | 8,744 | $2.7M | Add +5.3% |
| ETR Entergy Corp. | 0.45% | 30,576 | $2.5M | Reduce -19.4% |
| O Realty Income Corp. | 0.44% | 42,802 | $2.5M | Add +23.6% |
| TFC Truist Financial Corp. | 0.43% | 56,692 | $2.4M | Reduce -2.6% |
| MRVL Marvell Technology Inc. | 0.42% | 30,204 | $2.3M | Add +16.5% |
| PLD Prologis Inc. | 0.40% | 21,331 | $2.2M | Add +8.1% |
| BTI British American Tob-SP ADR | 0.38% | 45,370 | $2.1M | Add +87.4% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM | 0.37% | 29,410 | $2.1M | Reduce -5.3% |
| KVUE Kenvue Inc. | 0.36% | 96,329 | $2.0M | Add +1.2% |
| JNJ Johnson & Johnson | 0.35% | 12,977 | $2.0M | Add +24.5% |
| VGK Vanguard Ftse Europe ETF | 0.35% | 25,485 | $2.0M | No change |
| CSGP Costar Group Inc. | 0.35% | 24,562 | $2.0M | Reduce -0.7% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.32% | 16,206 | $1.8M | Add +6.5% |
| KO The Coca-Cola Co. | 0.32% | 25,007 | $1.8M | Reduce -2.5% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.31% | 27,895 | $1.8M | No change |
| IEFA iShares Core MSCI Eafe ETF | 0.31% | 21,048 | $1.8M | Reduce -0.9% |
| PFE Pfizer Inc. | 0.31% | 71,216 | $1.7M | Add +2.5% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.30% | 23,166 | $1.7M | Add +137.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.29% | 3,393 | $1.6M | Reduce -2.0% |
| GOOGL Alphabet Inc. Class A | 0.29% | 9,208 | $1.6M | Reduce -3.5% |
| SPGI S&P Global Inc. | 0.28% | 2,987 | $1.6M | Reduce -24.7% |
| WFC Wells Fargo & Co. | 0.27% | 19,114 | $1.5M | Reduce -2.0% |
| TDG Transdigm Group Inc. | 0.27% | 1,006 | $1.5M | Add +12.8% |
| PPL PPL Corp. | 0.27% | 44,939 | $1.5M | Add +0.7% |
| VLTO Veralto Corp. | 0.26% | 14,461 | $1.5M | Reduce -4.4% |
| CB Chubb Ltd. | 0.26% | 5,005 | $1.5M | Reduce -1.0% |
| V Visa Inc. Class A | 0.26% | 4,044 | $1.4M | Reduce -0.1% |
| ZTS Zoetis Inc. | 0.26% | 9,183 | $1.4M | Add +7.7% |
| NXPI NXP Semiconductors NV | 0.25% | 6,529 | $1.4M | Add +4.3% |
| WDAY Workday Inc. Class A | 0.25% | 5,853 | $1.4M | Reduce -11.8% |
| CCB Coastal Financial Corp. | 0.24% | 14,166 | $1.4M | Reduce -3.9% |
| BMY Bristol-Myers Squibb Co. | 0.23% | 28,331 | $1.3M | Reduce -56.2% |
| MS Morgan Stanley | 0.23% | 9,263 | $1.3M | Reduce -25.7% |
| EEM iShares MSCI Emerging Market | 0.23% | 26,947 | $1.3M | No change |
| GNRC Generac Holdings Inc. | 0.22% | 8,753 | $1.3M | Reduce -3.3% |
| GSK GSK PLC-Spon ADR | 0.22% | 31,667 | $1.2M | New |
| DDOG Datadog Inc. Class A | 0.22% | 9,035 | $1.2M | New |
| DEO Diageo PLC-Sponsored ADR | 0.21% | 11,623 | $1.2M | Add +16.8% |
| IWF iShares Russell 1000 Growth | 0.20% | 2,623 | $1.1M | Reduce -4.2% |
| FICO Fair Isaac Corp. | 0.19% | 574 | $1.0M | New |
| KKR KKR & Co. Inc. | 0.18% | 7,725 | $1.0M | Add +4.1% |
| FE Firstenergy Corp. | 0.18% | 24,912 | $1.0M | New |
| TSM Taiwan Semiconductor-SP ADR | 0.18% | 4,357 | $987K | Add +8.0% |
| VEEV Veeva Systems Inc. Class A | 0.17% | 3,373 | $971K | Reduce -15.4% |
| IWD iShares Russell 1000 Value E | 0.16% | 4,584 | $890K | Reduce -0.3% |
| PEP Pepsico Inc. | 0.16% | 6,721 | $887K | Add +41.9% |
| RBC RBC Bearings Inc. | 0.16% | 2,277 | $876K | Add +5.2% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $2K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & CO FR 5.389 04243 | Fixed Income · principal | 2,000 | $2K | No change |
Total filed on the 13F, all lines: $560.5M.
Portfolio Sells Q1 2025 → Q2 2025
| BMY Bristol-Myers Squibb Co. | Reduce -56.2% | 0.23% | −0.53 |
| LYB Lyondellbasell Indu Class A | Reduce -74.3% | 0.06% | −0.26 |
| GILD Gilead Sciences Inc. | Reduce -13.1% | 0.87% | −0.23 |
| ETR Entergy Corp. | Reduce -19.4% | 0.45% | −0.17 |
| CVX Chevron Corp. | Reduce -0.3% | 0.60% | −0.16 |
| DAKT Daktronics Inc. | Reduce -20.3% | 1.60% | −0.15 |
| ARE Alexandria Real Estate Equit | Reduce -53.7% | 0.07% | −0.14 |
| PGR Progressive Corp. | Reduce -6.5% | 0.58% | −0.13 |
| VZ Verizon Communications Inc. | Reduce -1.9% | 0.81% | −0.13 |
| ADBE Adobe Inc. | Reduce -62.8% | 0.07% | −0.12 |
| WMB Williams Cos Inc. | Reduce -10.8% | 0.75% | −0.12 |
| SPGI S&P Global Inc. | Reduce -24.7% | 0.28% | −0.11 |
| DUK Duke Energy Corp. | Reduce -0.5% | 0.80% | −0.10 |
| GOOG Alphabet Inc. Class C | Reduce -16.5% | 0.70% | −0.10 |
| PAYX Paychex Inc. | Reduce -39.7% | 0.11% | −0.10 |
| MRK Merck & Co. Inc. | Sold out | 0.00% | −0.10 |
| ALGN Align Technology Inc. | Sold out | 0.00% | −0.10 |
| T AT&T Inc. | Reduce -7.1% | 0.67% | −0.10 |
| SO The Southern Co. | Reduce -2.2% | 0.77% | −0.09 |
| PM Philip Morris International | Reduce -12.0% | 1.03% | −0.08 |
| D Dominion Energy Inc. | Reduce -42.3% | 0.09% | −0.07 |
| UNH Unitedhealth Group Inc. | Reduce -7.3% | 0.08% | −0.07 |
| AEP American Electric Power | Reduce -0.1% | 0.50% | −0.07 |
| UPS United Parcel Service Class B | Reduce -41.7% | 0.07% | −0.07 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -2.0% | 0.29% | −0.06 |
| MA Mastercard Inc. Class A | Reduce -1.5% | 0.79% | −0.06 |
| DFS Discover Financial Services | Sold out | 0.00% | −0.06 |
| COST Costco Wholesale Corp. | Reduce -3.8% | 0.70% | −0.05 |
| BKR Baker Hughes Co. | Sold out | 0.00% | −0.05 |
| TMO Thermo Fisher Scientific Inc. | Reduce -27.7% | 0.06% | −0.05 |
| ISRG Intuitive Surgical Inc. | Reduce -9.1% | 0.59% | −0.05 |
| BNY Bank of New York Mellon Corp. | Sold out | 0.00% | −0.05 |
| WDAY Workday Inc. Class A | Reduce -11.8% | 0.25% | −0.05 |
| MS Morgan Stanley | Reduce -25.7% | 0.23% | −0.05 |
| USB US Bancorp | Reduce -6.2% | 0.59% | −0.05 |
| FFIV F5 Inc. | Sold out | 0.00% | −0.04 |
| CNC Centene Corp. | Sold out | 0.00% | −0.04 |
| EOG EOG Resources Inc. | Sold out | 0.00% | −0.04 |
| BFAM Bright Horizons Family Solut | Sold out | 0.00% | −0.04 |
| KO The Coca-Cola Co. | Reduce -2.5% | 0.32% | −0.04 |
| IEX Idex Corp. | Sold out | 0.00% | −0.04 |
| AMCR Amcor PLC | Reduce -8.9% | 0.15% | −0.04 |
| CB Chubb Ltd. | Reduce -1.0% | 0.26% | −0.04 |
| WST West Pharmaceutical Services | Reduce -30.6% | 0.06% | −0.03 |
| TFC Truist Financial Corp. | Reduce -2.6% | 0.43% | −0.03 |
| CSGP Costar Group Inc. | Reduce -0.7% | 0.35% | −0.03 |
| VLTO Veralto Corp. | Reduce -4.4% | 0.26% | −0.03 |
| CTAS Cintas Corp. | Reduce -3.7% | 0.62% | −0.02 |
| FRPT Freshpet Inc. | Reduce -3.6% | 0.05% | −0.02 |
| V Visa Inc. Class A | Reduce -0.1% | 0.26% | −0.02 |
Portfolio Buys Q1 2025 → Q2 2025
| META Meta Platforms Inc. Class A | Add +31.8% | 1.30% | +0.46 |
| VOO Vanguard S&P 500 ETF | Add +5.4% | 4.39% | +0.30 |
| GSK GSK PLC-Spon ADR | New | 0.22% | +0.22 |
| DDOG Datadog Inc. Class A | New | 0.22% | +0.22 |
| TTD Trade Desk Inc./the Class A | Add +137.7% | 0.30% | +0.19 |
| BTI British American Tob-SP ADR | Add +87.4% | 0.38% | +0.19 |
| FICO Fair Isaac Corp. | New | 0.19% | +0.19 |
| FE Firstenergy Corp. | New | 0.18% | +0.18 |
| NFLX Netflix Inc. | Add +11.7% | 0.51% | +0.17 |
| XOM Exxon Mobil Corp. | Add +71.9% | 0.49% | +0.15 |
| NGG National Grid PLC-SP ADR | Add +16.4% | 0.71% | +0.13 |
| MRVL Marvell Technology Inc. | Add +16.5% | 0.42% | +0.11 |
| UBER Uber Technologies Inc. | Add +0.7% | 0.65% | +0.10 |
| IVV iShares Core S&P 500 ETF | Add +16.1% | 0.66% | +0.10 |
| IJH iShares Core S&P Midcap ETF | Add +5.7% | 2.44% | +0.08 |
| COF Capital One Financial Corp. | New | 0.07% | +0.07 |
| ADSK Autodesk Inc. | Add +5.3% | 0.48% | +0.06 |
| O Realty Income Corp. | Add +23.6% | 0.44% | +0.05 |
| SGI Somnigroup International Inc. | New | 0.05% | +0.05 |
| HBAN Huntington Bancshares Inc. | Add +5.9% | 0.61% | +0.05 |
| ATRC Atricure Inc. | New | 0.05% | +0.05 |
| GXO Gxo Logistics Inc. | New | 0.05% | +0.05 |
| TSM Taiwan Semiconductor-SP ADR | Add +8.0% | 0.18% | +0.05 |
| ATRO Astronics Corp. | New | 0.05% | +0.05 |
| TT Trane Technologies PLC | Add +19.0% | 0.15% | +0.05 |
| ALLE Allegion PLC | New | 0.04% | +0.04 |
| BMO Bank of Montreal | Add +6.5% | 0.32% | +0.04 |
| VUG Vanguard Mrngstar GR ETF-Sui | New | 0.04% | +0.04 |
| HWC Hancock Whitney Corp. | New | 0.04% | +0.04 |
| MDLZ Mondelez International Inc. Class A | New | 0.04% | +0.04 |
| PI Impinj Inc. | New | 0.04% | +0.04 |
| MPWR Monolithic Power Systems Inc. | New | 0.04% | +0.04 |
| KLAC KLA Corp. | New | 0.04% | +0.04 |
| FERG Ferguson Enterprises Inc. | New | 0.04% | +0.04 |
| FOXF Fox Factory Holding Corp. | New | 0.04% | +0.04 |
| DY Dycom Industries Inc. | Add +9.8% | 0.09% | +0.04 |
| TDG Transdigm Group Inc. | Add +12.8% | 0.27% | +0.03 |
| SMCI Super Micro Computer Inc. | Add +24.7% | 0.08% | +0.03 |
| VWO Vanguard Ftse Emerging Marke | Add +0.1% | 4.01% | +0.03 |
| EVLV Evolv Technologies Holdings | Add +15.8% | 0.05% | +0.03 |
| IMCG iShares Morningstar Mid-Cap | Add +21.6% | 0.13% | +0.03 |
| NXPI NXP Semiconductors NV | Add +4.3% | 0.25% | +0.02 |
| CARR Carrier Global Corp. | Add +27.5% | 0.09% | +0.02 |
| RBC RBC Bearings Inc. | Add +5.2% | 0.16% | +0.02 |
| PEP Pepsico Inc. | Add +41.9% | 0.16% | +0.02 |
| AMD Advanced Micro Devices | Add +1.3% | 0.09% | +0.02 |
| LXU LSB Industries Inc. | New | 0.02% | +0.02 |
| JNJ Johnson & Johnson | Add +24.5% | 0.35% | +0.02 |
| QXO Qxo Inc. | Add +2.5% | 0.06% | +0.02 |
| KKR KKR & Co. Inc. | Add +4.1% | 0.18% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 270 | $680.0M | VTI, VEA, AGG, VOO, VWO |
| Q1 2026 | 257 | $620.8M | VTI, VEA, AGG, VOO, VWO |
| Q4 2025 | 260 | $613.9M | VTI, VEA, AGG, VWO, VOO |
| Q3 2025 | 257 | $594.2M | VTI, VEA, AGG, VWO, VOO |
| Q2 2025 | 242 | $560.5M | VTI, VEA, AGG, VOO, VWO |
| Q1 2025 | 232 | $516.4M | VTI, VEA, AGG, VOO, VWO |
| Q4 2024 | 236 | $521.0M | VTI, VEA, AGG, VWO, VOO |
| Q3 2024 | 233 | $526.9M | VTI, VEA, AGG, VWO, VOO |
| Q2 2024 | 225 | $491.0M | VTI, VEA, AGG, VWO, VOO |
| Q1 2024 | 230 | $483.8M | VTI, VEA, AGG, VWO, VOO |