First Bank & Trust
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 10, 2025), First Bank & Trust reported 257 stock positions worth $594.2 million. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 11.8% of the portfolio, followed by Vanguard Ftse Developed ETF (VEA, 8.0%) and iShares Core U.S. Aggregate (AGG, 5.1%). Compared with Q2 2025, it opened 22 new positions, sold out of 7, added to 75 and reduced 112. The biggest buy was Apple (AAPL, shares +244%) and the biggest sale an exit from Big Sioux Financial Class A.
- Most Recent 13F
- Q2 2026
- Location
- BROOKINGS, SD
- CIK
- 0001692632
- Portfolio Value
- $594.2M (Q3 2025)
- SEC Filing
- 0001692632-25-000008 ↗ filed Oct 10, 2025
Holdings Value
Holdings 257 stocks · $594.2M
| VTI VG Morningstar TS MKT ETF-US | 11.76% | 212,908 | $69.9M | Reduce -1.0% |
| VEA Vanguard Ftse Developed ETF | 8.01% | 794,444 | $47.6M | Reduce -6.0% |
| AGG iShares Core U.S. Aggregate | 5.10% | 302,124 | $30.3M | Add +2.7% |
| VWO Vanguard Ftse Emerging Marke | 3.80% | 417,016 | $22.6M | Reduce -8.3% |
| VOO Vanguard S&P 500 ETF | 3.60% | 34,914 | $21.4M | Reduce -19.4% |
| MSFT Microsoft Corp. | 3.02% | 34,645 | $17.9M | Reduce -0.3% |
| IJR iShares Core S&P Small-Cap E | 2.42% | 120,841 | $14.4M | Reduce -5.0% |
| AAPL Apple Inc. | 2.30% | 53,657 | $13.7M | Add +244.2% |
| IJH iShares Core S&P Midcap ETF | 2.19% | 199,223 | $13.0M | Reduce -9.7% |
| VOOV Vanguard S&P 500 Value ETF | 1.54% | 45,762 | $9.1M | No change |
| DAKT Daktronics Inc. | 1.38% | 392,028 | $8.2M | Reduce -33.8% |
| NVDA Nvidia Corp. | 1.33% | 42,256 | $7.9M | Reduce -3.7% |
| VIOV Vanguard S&P Small-Cap 600 V | 1.26% | 78,422 | $7.5M | No change |
| META Meta Platforms Inc. Class A | 1.23% | 9,927 | $7.3M | Add +0.7% |
| CATH Global X S&P 500 Ca Val ETF | 1.22% | 89,562 | $7.3M | No change |
| GEVO Gevo Inc. | 1.01% | 3,064,948 | $6.0M | New |
| AMZN Amazon.com Inc. | 0.99% | 26,679 | $5.9M | Reduce -1.4% |
| XEL Xcel Energy Inc. | 0.83% | 60,971 | $4.9M | Add +1.3% |
| PM Philip Morris International | 0.81% | 29,802 | $4.8M | Reduce -5.8% |
| ABBV Abbvie Inc. | 0.80% | 20,600 | $4.8M | Add +8.2% |
| ENB Enbridge Inc. | 0.79% | 93,514 | $4.7M | Add +0.6% |
| GOOG Alphabet Inc. Class C | 0.78% | 19,136 | $4.7M | Reduce -13.2% |
| DUK Duke Energy Corp. | 0.78% | 37,317 | $4.6M | Reduce -2.3% |
| VZ Verizon Communications Inc. | 0.78% | 104,918 | $4.6M | Reduce -0.1% |
| TTE Totalenergies SE -Spon ADR | 0.76% | 75,412 | $4.5M | Add +7.8% |
| MA Mastercard Inc. Class A | 0.75% | 7,854 | $4.5M | Reduce -0.3% |
| GILD Gilead Sciences Inc. | 0.73% | 39,342 | $4.4M | Reduce -10.3% |
| SO The Southern Co. | 0.72% | 45,244 | $4.3M | Reduce -3.3% |
| IVV iShares Core S&P 500 ETF | 0.71% | 6,263 | $4.2M | Add +5.5% |
| WMB Williams Cos Inc. | 0.70% | 65,948 | $4.2M | Reduce -0.9% |
| CVX Chevron Corp. | 0.67% | 25,569 | $4.0M | Add +8.4% |
| PNC PNC Financial Services Group | 0.67% | 19,743 | $4.0M | Add +9.3% |
| NGG National Grid PLC-SP ADR | 0.66% | 53,903 | $3.9M | Add +0.8% |
| PFE Pfizer Inc. | 0.65% | 151,617 | $3.9M | Add +112.9% |
| VPL Vanguard Ftse Pacific ETF | 0.64% | 43,465 | $3.8M | No change |
| USB US Bancorp | 0.64% | 78,204 | $3.8M | Add +7.0% |
| NOW ServiceNow Inc. | 0.63% | 4,053 | $3.7M | Reduce -4.3% |
| UBER Uber Technologies Inc. | 0.62% | 37,575 | $3.7M | Reduce -3.4% |
| INTU Intuit Inc. | 0.61% | 5,350 | $3.7M | No change |
| HBAN Huntington Bancshares Inc. | 0.61% | 210,730 | $3.6M | Add +2.5% |
| COST Costco Wholesale Corp. | 0.60% | 3,880 | $3.6M | Reduce -1.8% |
| XOM Exxon Mobil Corp. | 0.60% | 31,621 | $3.6M | Add +24.7% |
| AMGN Amgen Inc. | 0.59% | 12,417 | $3.5M | Add +10.3% |
| SNY Sanofi-ADR | 0.55% | 69,753 | $3.3M | Add +1.5% |
| TRP TC Energy Corp. | 0.54% | 59,238 | $3.2M | Reduce -0.6% |
| CTAS Cintas Corp. | 0.54% | 15,555 | $3.2M | Reduce -0.4% |
| GLD SPDR Gold Shares | 0.53% | 8,940 | $3.2M | No change |
| JPM JPMorgan Chase & Co. | 0.53% | 10,060 | $3.2M | Reduce -1.4% |
| AEP American Electric Power | 0.52% | 27,286 | $3.1M | Add +1.1% |
| BTI British American Tob-SP ADR | 0.51% | 56,999 | $3.0M | Add +25.6% |
| T AT&T Inc. | 0.50% | 105,412 | $3.0M | Reduce -19.0% |
| JNJ Johnson & Johnson | 0.49% | 15,810 | $2.9M | Add +21.8% |
| PGR Progressive Corp. | 0.48% | 11,513 | $2.8M | Reduce -5.2% |
| ADSK Autodesk Inc. | 0.46% | 8,645 | $2.7M | Reduce -1.1% |
| TFC Truist Financial Corp. | 0.45% | 58,836 | $2.7M | Add +3.8% |
| HLT Hilton Worldwide Holdings Inc. | 0.45% | 10,252 | $2.7M | Reduce -0.0% |
| ISRG Intuitive Surgical Inc. | 0.44% | 5,881 | $2.6M | Reduce -3.5% |
| O Realty Income Corp. | 0.44% | 42,869 | $2.6M | Add +0.2% |
| NFLX Netflix Inc. | 0.43% | 2,148 | $2.6M | Add +0.2% |
| PLD Prologis Inc. | 0.42% | 21,983 | $2.5M | Add +3.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.40% | 4,693 | $2.4M | Add +38.3% |
| ETR Entergy Corp. | 0.38% | 24,378 | $2.3M | Reduce -20.3% |
| GOOGL Alphabet Inc. Class A | 0.37% | 9,139 | $2.2M | Reduce -0.8% |
| GSK GSK PLC-Spon ADR | 0.37% | 51,151 | $2.2M | Add +61.5% |
| BMO Bank of Montreal filed as BANK MONTREAL QUE | 0.37% | 16,836 | $2.2M | Add +3.9% |
| VGK Vanguard Ftse Europe ETF | 0.34% | 25,479 | $2.0M | Reduce -0.0% |
| MRVL Marvell Technology Inc. | 0.34% | 24,164 | $2.0M | Reduce -20.0% |
| CSGP Costar Group Inc. | 0.34% | 23,980 | $2.0M | Reduce -2.4% |
| CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BANK OF CO | 0.33% | 24,755 | $2.0M | Reduce -15.8% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.32% | 27,895 | $1.9M | No change |
| IEFA iShares Core MSCI Eafe ETF | 0.31% | 21,171 | $1.8M | Add +0.6% |
| PPL PPL Corp. | 0.28% | 45,405 | $1.7M | Add +1.0% |
| KO The Coca-Cola Co. | 0.28% | 24,828 | $1.6M | Reduce -0.7% |
| WFC Wells Fargo & Co. | 0.27% | 19,114 | $1.6M | No change |
| KVUE Kenvue Inc. | 0.26% | 95,566 | $1.6M | Reduce -0.8% |
| NXPI NXP Semiconductors NV | 0.25% | 6,528 | $1.5M | Reduce -0.0% |
| VLTO Veralto Corp. | 0.25% | 13,914 | $1.5M | Reduce -3.8% |
| EEM iShares MSCI Emerging Market | 0.24% | 26,947 | $1.4M | No change |
| GNRC Generac Holdings Inc. | 0.24% | 8,472 | $1.4M | Reduce -3.2% |
| MS Morgan Stanley | 0.24% | 8,839 | $1.4M | Reduce -4.6% |
| PEP Pepsico Inc. | 0.23% | 9,781 | $1.4M | Add +45.5% |
| CB Chubb Ltd. | 0.23% | 4,841 | $1.4M | Reduce -3.3% |
| V Visa Inc. Class A | 0.23% | 3,985 | $1.4M | Reduce -1.5% |
| TDG Transdigm Group Inc. | 0.22% | 1,013 | $1.3M | Add +0.7% |
| CCB Coastal Financial Corp. | 0.22% | 12,339 | $1.3M | Reduce -12.9% |
| DDOG Datadog Inc. Class A | 0.22% | 9,251 | $1.3M | Add +2.4% |
| TSM Taiwan Semiconductor-SP ADR | 0.21% | 4,525 | $1.3M | Add +3.9% |
| FE Firstenergy Corp. | 0.21% | 27,336 | $1.3M | Add +9.7% |
| IWF iShares Russell 1000 Growth | 0.20% | 2,594 | $1.2M | Reduce -1.1% |
| WMT Walmart Inc. | 0.20% | 11,404 | $1.2M | Add +34.7% |
| ZTS Zoetis Inc. | 0.19% | 7,893 | $1.2M | Reduce -14.1% |
| SPGI S&P Global Inc. | 0.18% | 2,231 | $1.1M | Reduce -25.3% |
| DEO Diageo PLC-Sponsored ADR | 0.17% | 10,889 | $1.0M | Reduce -6.3% |
| KMB Kimberly-Clark Corp. | 0.17% | 8,261 | $1.0M | Add +74.5% |
| KKR KKR & Co. Inc. | 0.17% | 7,866 | $1.0M | Add +1.8% |
| CDNS Cadence Design SYS Inc. | 0.17% | 2,811 | $987K | Add +1.9% |
| VEEV Veeva Systems Inc. Class A | 0.16% | 3,226 | $961K | Reduce -4.4% |
| IAU iShares Gold Trust | 0.16% | 13,051 | $950K | New |
| GE General Electric filed as GE AEROSPACE | 0.16% | 3,149 | $947K | Add +88.7% |
| IWD iShares Russell 1000 Value E | 0.16% | 4,584 | $933K | No change |
Portfolio Sells Q2 2025 → Q3 2025
| Big Sioux Financial Class A | Sold out | 0.00% | −1.22 |
| VOO Vanguard S&P 500 ETF | Reduce -19.4% | 3.60% | −0.79 |
| VEA Vanguard Ftse Developed ETF | Reduce -6.0% | 8.01% | −0.58 |
| IJH iShares Core S&P Midcap ETF | Reduce -9.7% | 2.19% | −0.25 |
| DAKT Daktronics Inc. | Reduce -33.8% | 1.38% | −0.22 |
| PM Philip Morris International | Reduce -5.8% | 0.81% | −0.21 |
| VWO Vanguard Ftse Emerging Marke | Reduce -8.3% | 3.80% | −0.21 |
| BMY Bristol-Myers Squibb Co. | Reduce -76.3% | 0.05% | −0.18 |
| T AT&T Inc. | Reduce -19.0% | 0.50% | −0.17 |
| TTD Trade Desk Inc./the Class A | Reduce -33.1% | 0.13% | −0.17 |
| NOW ServiceNow Inc. | Reduce -4.3% | 0.63% | −0.15 |
| ISRG Intuitive Surgical Inc. | Reduce -3.5% | 0.44% | −0.15 |
| GILD Gilead Sciences Inc. | Reduce -10.3% | 0.73% | −0.13 |
| WDAY Workday Inc. Class A | Reduce -49.7% | 0.12% | −0.13 |
| PGR Progressive Corp. | Reduce -5.2% | 0.48% | −0.10 |
| KVUE Kenvue Inc. | Reduce -0.8% | 0.26% | −0.10 |
| SPGI S&P Global Inc. | Reduce -25.3% | 0.18% | −0.10 |
| COST Costco Wholesale Corp. | Reduce -1.8% | 0.60% | −0.09 |
| CTAS Cintas Corp. | Reduce -0.4% | 0.54% | −0.08 |
| MRVL Marvell Technology Inc. | Reduce -20.0% | 0.34% | −0.08 |
| AMZN Amazon.com Inc. | Reduce -1.4% | 0.99% | −0.07 |
| FICO Fair Isaac Corp. | Reduce -20.4% | 0.12% | −0.07 |
| ETR Entergy Corp. | Reduce -20.3% | 0.38% | −0.07 |
| MSFT Microsoft Corp. | Reduce -0.3% | 3.02% | −0.06 |
| IJR iShares Core S&P Small-Cap E | Reduce -5.0% | 2.42% | −0.06 |
| ZTS Zoetis Inc. | Reduce -14.1% | 0.19% | −0.06 |
| PAYX Paychex Inc. | Reduce -43.5% | 0.05% | −0.06 |
| FRPT Freshpet Inc. | Sold out | 0.00% | −0.05 |
| SO The Southern Co. | Reduce -3.3% | 0.72% | −0.04 |
| WMB Williams Cos Inc. | Reduce -0.9% | 0.70% | −0.04 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -0.0% | 0.45% | −0.04 |
| DRI Darden Restaurants Inc. | Sold out | 0.00% | −0.04 |
| CM Can Imperial BK of Commerce | Reduce -15.8% | 0.33% | −0.04 |
| KO The Coca-Cola Co. | Reduce -0.7% | 0.28% | −0.04 |
| MA Mastercard Inc. Class A | Reduce -0.3% | 0.75% | −0.04 |
| RGA Reinsurance Group of America | Sold out | 0.00% | −0.04 |
| PEG Public Service Enterprise GP | Sold out | 0.00% | −0.04 |
| NCNO Ncino Inc. | Sold out | 0.00% | −0.04 |
| NOMD Nomad Foods Ltd. | Sold out | 0.00% | −0.03 |
| VZ Verizon Communications Inc. | Reduce -0.1% | 0.78% | −0.03 |
| DEO Diageo PLC-Sponsored ADR | Reduce -6.3% | 0.17% | −0.03 |
| D Dominion Energy Inc. | Reduce -35.6% | 0.06% | −0.03 |
| CB Chubb Ltd. | Reduce -3.3% | 0.23% | −0.03 |
| UBER Uber Technologies Inc. | Reduce -3.4% | 0.62% | −0.03 |
| V Visa Inc. Class A | Reduce -1.5% | 0.23% | −0.03 |
| DUK Duke Energy Corp. | Reduce -2.3% | 0.78% | −0.03 |
| FISV Fiserv Inc. | Reduce -3.9% | 0.05% | −0.03 |
| ADBE Adobe Inc. | Reduce -28.1% | 0.04% | −0.03 |
| DE Deere & Co. | Reduce -0.6% | 0.13% | −0.02 |
| PNFP Pinnacle Financial Partners | Reduce -13.8% | 0.05% | −0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| AAPL Apple Inc. | Add +244.2% | 2.30% | +1.73 |
| GEVO Gevo Inc. | New | 1.01% | +1.01 |
| PFE Pfizer Inc. | Add +112.9% | 0.65% | +0.34 |
| ABBV Abbvie Inc. | Add +8.2% | 0.80% | +0.17 |
| IAU iShares Gold Trust | New | 0.16% | +0.16 |
| GSK GSK PLC-Spon ADR | Add +61.5% | 0.37% | +0.15 |
| RWJ Invesco S&P Smallcap 600 | New | 0.14% | +0.14 |
| JNJ Johnson & Johnson | Add +21.8% | 0.49% | +0.14 |
| DIVI Franklin International Core | New | 0.14% | +0.14 |
| JIRE JPMorgan Int Res Enh Eqty | New | 0.13% | +0.13 |
| BTI British American Tob-SP ADR | Add +25.6% | 0.51% | +0.13 |
| XOM Exxon Mobil Corp. | Add +24.7% | 0.60% | +0.11 |
| GEV GE Vernova Inc. | New | 0.11% | +0.11 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +38.3% | 0.40% | +0.10 |
| XEL Xcel Energy Inc. | Add +1.3% | 0.83% | +0.10 |
| JEMA JPMorgan Activebuilders Emer | New | 0.10% | +0.10 |
| DKNG Draftkings Inc. Class A | New | 0.09% | +0.09 |
| FBND Fidelity Total Bond ETF | New | 0.08% | +0.08 |
| GE General Electric | Add +88.7% | 0.16% | +0.08 |
| IOT Samsara Inc. Class A | New | 0.08% | +0.08 |
| AS Amer Sports Inc. | New | 0.08% | +0.08 |
| WST West Pharmaceutical Services | Add +107.8% | 0.13% | +0.08 |
| PEP Pepsico Inc. | Add +45.5% | 0.23% | +0.07 |
| PNC PNC Financial Services Group | Add +9.3% | 0.67% | +0.07 |
| CVX Chevron Corp. | Add +8.4% | 0.67% | +0.07 |
| KMB Kimberly-Clark Corp. | Add +74.5% | 0.17% | +0.06 |
| ONEQ Fidelity Nasdaq Comp Indx | New | 0.06% | +0.06 |
| RTX RTX Corp. | New | 0.05% | +0.05 |
| ARE Alexandria Real Estate Equit | Add +57.6% | 0.12% | +0.05 |
| KORP American Century Diversified | New | 0.05% | +0.05 |
| ARM Arm Holdings PLC-ADR | New | 0.05% | +0.05 |
| WMT Walmart Inc. | Add +34.7% | 0.20% | +0.05 |
| BMO Bank of Montreal | Add +3.9% | 0.37% | +0.05 |
| IVV iShares Core S&P 500 ETF | Add +5.5% | 0.71% | +0.05 |
| USB US Bancorp | Add +7.0% | 0.64% | +0.05 |
| SCHW Schwab (charles) Corp. | New | 0.04% | +0.04 |
| ENB Enbridge Inc. | Add +0.6% | 0.79% | +0.04 |
| STIP iShares 0-5 Year Tips Bond E | New | 0.04% | +0.04 |
| TSM Taiwan Semiconductor-SP ADR | Add +3.9% | 0.21% | +0.04 |
| GTLS Chart Industries Inc. | New | 0.04% | +0.04 |
| VTV Vanguard Mrngstr Val ETF-Aui | New | 0.04% | +0.04 |
| PEGA Pegasystems Inc. | New | 0.04% | +0.04 |
| UNH Unitedhealth Group Inc. | Add +39.8% | 0.11% | +0.03 |
| MDY State Street SPDR S&P Midcap | New | 0.03% | +0.03 |
| ILMN Illumina Inc. | New | 0.03% | +0.03 |
| FE Firstenergy Corp. | Add +9.7% | 0.21% | +0.03 |
| IWM iShares Russell 2000 ETF | Add +18.9% | 0.15% | +0.03 |
| AMGN Amgen Inc. | Add +10.3% | 0.59% | +0.03 |
| URI United Rentals Inc. | Add +5.7% | 0.14% | +0.03 |
| PLD Prologis Inc. | Add +3.1% | 0.42% | +0.02 |
Notes & Other Activity Q2 2025 → Q3 2025
| WELLS FARGO & CO FR 5.389 04243 | Fixed Income · principal | Sold out | 2,000 | $2Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
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 |