First International Bank & Trust
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 7, 2025), First International Bank & Trust reported 56 stock positions worth $287.7 million. Its top holding was Two RDS Shared TR at 24.8% of the portfolio, followed by Invesco S&P 500 Quality ETF (SPHQ, 14.3%) and SS Multi-Asset Real Ret ETF (RLY, 8.3%). Compared with Q2 2025, it opened 2 new positions, sold out of 9, added to 7 and reduced 31. The biggest buy was a new position in Abbvie (ABBV) and the biggest sale Two RDS Shared TR (shares −3%).
- Most Recent 13F
- Q3 2025
- Location
- WATFORD CITY, ND
- CIK
- 0001910370
- Portfolio Value
- $287.7M (Q3 2025)
- SEC Filing
- 0000930413-25-003200 ↗ filed Oct 7, 2025
Holdings Value
Holdings 56 stocks · $287.7M
| TWO RDS SHARED TR | 24.83% | 7,608,507 | $71.4M | Reduce -2.6% |
| SPHQ Invesco S&P 500 Quality ETF | 14.27% | 560,123 | $41.1M | Reduce -1.6% |
| RLY SS Multi-Asset Real Ret ETF | 8.34% | 776,930 | $24.0M | Reduce -3.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 6.78% | 29,273 | $19.5M | Reduce -1.3% |
| DXJ Wisdomtree Japan Hedged Eq | 6.35% | 142,667 | $18.3M | Reduce -4.7% |
| ANFIELD US EQUITY SECTOR ROT | 5.12% | 715,906 | $14.7M | Reduce -4.1% |
| SMLF iShares US Smallcap Equity F | 4.61% | 178,490 | $13.3M | Reduce -1.0% |
| XMHQ Invesco S&P Midcap Qual ETF | 4.12% | 113,058 | $11.9M | Reduce -1.3% |
| LMBS First Trust Low Duration Opp | 3.56% | 205,968 | $10.3M | Reduce -2.3% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 1.98% | 62,008 | $5.7M | Add +0.2% |
| JPST JPMorgan Ultra-Short Income | 1.97% | 111,746 | $5.7M | Add +0.2% |
| ICSH iShares Ultra Short Duration | 1.96% | 111,382 | $5.7M | No change |
| BRK.A Berkshire Hathaway Inc. Class A | 1.31% | 5 | $3.8M | No change |
| SCHA Schwab US Small-Cap ETF | 1.05% | 107,780 | $3.0M | Reduce -12.2% |
| MUNI PIMCO Intermediate Municipal | 1.04% | 57,322 | $3.0M | Reduce -0.3% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 0.97% | 48,934 | $2.8M | Reduce -10.5% |
| JAAA Janus Henderson Aaa Clo ETF | 0.96% | 54,571 | $2.8M | Reduce -16.1% |
| MSFT Microsoft Corp. | 0.87% | 4,854 | $2.5M | Reduce -4.9% |
| SHM SS SPDR N Ice St Muni ETF | 0.77% | 45,999 | $2.2M | Add +0.6% |
| MUB iShares National Muni Bond E | 0.75% | 20,206 | $2.2M | Add +1.0% |
| MOAT Vaneck Morningstar Wide Moat | 0.71% | 20,492 | $2.0M | Reduce -9.1% |
| WMT Walmart Inc. | 0.65% | 18,262 | $1.9M | Reduce -1.6% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.61% | 33,249 | $1.8M | Reduce -23.5% |
| AXP American Express Co. | 0.61% | 5,255 | $1.7M | Add +3.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.59% | 3,392 | $1.7M | Add +11.0% |
| COST Costco Wholesale Corp. | 0.57% | 1,785 | $1.7M | Add +3.6% |
| ALKT Alkami Technology Inc. | 0.40% | 46,310 | $1.2M | No change |
| VNQ Vanguard Real Estate ETF | 0.34% | 10,687 | $977K | No change |
| AAPL Apple Inc. | 0.34% | 3,819 | $972K | Reduce -22.9% |
| DE Deere & Co. | 0.33% | 2,086 | $954K | Reduce -0.1% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.25% | 1,511 | $725K | No change |
| CVX Chevron Corp. | 0.24% | 4,500 | $699K | No change |
| AMZN Amazon.com Inc. | 0.22% | 2,921 | $641K | Reduce -17.3% |
| ADP Automatic Data Processing | 0.21% | 2,101 | $617K | Reduce -14.3% |
| XLK SS Technology Select Sector | 0.21% | 2,178 | $614K | No change |
| GSLC Goldman Activebeta US LC ETF | 0.16% | 3,623 | $472K | No change |
| VZ Verizon Communications Inc. | 0.16% | 10,365 | $456K | Reduce -0.1% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.13% | 1,952 | $364K | No change |
| V Visa Inc. Class A | 0.13% | 1,055 | $360K | No change |
| XLC SS Comm Select Sector SPDR | 0.12% | 2,845 | $337K | No change |
| XLV SS Health Care Select Sector | 0.11% | 2,287 | $318K | Reduce -6.7% |
| XLF SS Financial Select Sector | 0.11% | 5,649 | $304K | No change |
| CSCO Cisco Systems Inc. | 0.11% | 4,440 | $304K | Reduce -8.6% |
| IFLN Invesco Bloomberg Enhanced F | 0.10% | 15,761 | $293K | No change |
| AMGN Amgen Inc. | 0.09% | 951 | $268K | Reduce -0.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.09% | 898 | $253K | Reduce -0.1% |
| LOW Lowe's Cos Inc. | 0.09% | 1,002 | $252K | Reduce -23.1% |
| PM Philip Morris International | 0.09% | 1,516 | $246K | Reduce -0.7% |
| ABBV Abbvie Inc. | 0.08% | 1,024 | $237K | New |
| CSR Centerspace | 0.08% | 3,860 | $227K | No change |
| XOM Exxon Mobil Corp. | 0.08% | 1,991 | $224K | Reduce -3.1% |
| BA The Boeing Co. | 0.07% | 1,000 | $216K | No change |
| IWP iShares Russell Mid-Cap Grow | 0.07% | 1,514 | $216K | No change |
| MCD McDonald's Corp. | 0.07% | 699 | $212K | Reduce -10.6% |
| KO The Coca-Cola Co. | 0.07% | 3,185 | $211K | Reduce -0.5% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.07% | 700 | $206K | New |
Portfolio Sells Q2 2025 → Q3 2025
| TWO RDS SHARED TR | Reduce -2.6% | 24.83% | −0.49 |
| PPLT Abrdn Physical Platinum SHRS | Sold out | 0.00% | −0.26 |
| IGSB iShares 1-5Y Inv Grade Corp. | Reduce -23.5% | 0.61% | −0.18 |
| JAAA Janus Henderson Aaa Clo ETF | Reduce -16.1% | 0.96% | −0.18 |
| SLV iShares Silver Trust | Sold out | 0.00% | −0.18 |
| FLOT iShares Floating Rate Bond E | Sold out | 0.00% | −0.14 |
| ORCL Oracle Corp. | Sold out | 0.00% | −0.09 |
| AFL Aflac Inc. | Sold out | 0.00% | −0.09 |
| LMT Lockheed Martin Corp. | Sold out | 0.00% | −0.08 |
| PFE Pfizer Inc. | Sold out | 0.00% | −0.07 |
| DIS The Walt Disney Co. | Sold out | 0.00% | −0.07 |
| ABT Abbott Laboratories | Sold out | 0.00% | −0.07 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Reduce -10.5% | 0.97% | −0.06 |
| ADP Automatic Data Processing | Reduce -14.3% | 0.21% | −0.05 |
| LMBS First Trust Low Duration Opp | Reduce -2.3% | 3.56% | −0.05 |
| AMZN Amazon.com Inc. | Reduce -17.3% | 0.22% | −0.05 |
| DE Deere & Co. | Reduce -0.1% | 0.33% | −0.04 |
| SCHA Schwab US Small-Cap ETF | Reduce -12.2% | 1.05% | −0.04 |
| MOAT Vaneck Morningstar Wide Moat | Reduce -9.1% | 0.71% | −0.03 |
| AAPL Apple Inc. | Reduce -22.9% | 0.34% | −0.02 |
| LOW Lowe's Cos Inc. | Reduce -23.1% | 0.09% | −0.01 |
| CSCO Cisco Systems Inc. | Reduce -8.6% | 0.11% | −0.01 |
| PM Philip Morris International | Reduce -0.7% | 0.09% | −0.01 |
| MSFT Microsoft Corp. | Reduce -4.9% | 0.87% | −0.01 |
| MCD McDonald's Corp. | Reduce -10.6% | 0.07% | −0.01 |
| KO The Coca-Cola Co. | Reduce -0.5% | 0.07% | −0.01 |
| XLV SS Health Care Select Sector | Reduce -6.7% | 0.11% | −0.00 |
| IBM Intl Business Machines Corp. | Reduce -0.1% | 0.09% | −0.00 |
| AMGN Amgen Inc. | Reduce -0.2% | 0.09% | +0.00 |
| XOM Exxon Mobil Corp. | Reduce -3.1% | 0.08% | +0.00 |
| VZ Verizon Communications Inc. | Reduce -0.1% | 0.16% | +0.00 |
| MUNI PIMCO Intermediate Municipal | Reduce -0.3% | 1.04% | +0.01 |
| WMT Walmart Inc. | Reduce -1.6% | 0.65% | +0.02 |
| SPHQ Invesco S&P 500 Quality ETF | Reduce -1.6% | 14.27% | +0.15 |
| RLY SS Multi-Asset Real Ret ETF | Reduce -3.5% | 8.34% | +0.19 |
| ANFIELD US EQUITY SECTOR ROT | Reduce -4.1% | 5.12% | +0.20 |
| XMHQ Invesco S&P Midcap Qual ETF | Reduce -1.3% | 4.12% | +0.21 |
| SMLF iShares US Smallcap Equity F | Reduce -1.0% | 4.61% | +0.35 |
| DXJ Wisdomtree Japan Hedged Eq | Reduce -4.7% | 6.35% | +0.40 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -1.3% | 6.78% | +0.40 |
Portfolio Buys Q2 2025 → Q3 2025
| ABBV Abbvie Inc. | New | 0.08% | +0.08 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +11.0% | 0.59% | +0.08 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | New | 0.07% | +0.07 |
| AXP American Express Co. | Add +3.6% | 0.61% | +0.04 |
| MUB iShares National Muni Bond E | Add +1.0% | 0.75% | +0.02 |
| SHM SS SPDR N Ice St Muni ETF | Add +0.6% | 0.77% | +0.01 |
| JPST JPMorgan Ultra-Short Income | Add +0.2% | 1.97% | +0.00 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +0.2% | 1.98% | +0.00 |
| COST Costco Wholesale Corp. | Add +3.6% | 0.57% | −0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q3 2025 | 56 | $287.7M | TWO RDS SHARED TR, SPHQ, RLY, SPY, DXJ |
| Q2 2025 | 63 | $287.5M | TWO RDS SHARED TR, SPHQ, RLY, SPY, DXJ |
| Q1 2025 | 70 | $316.2M | TWO RDS SHARED TR, MOAT, RLY, SPY, DXJ |
| Q4 2024 | 70 | $308.7M | TWO RDS SHARED TR, MOAT, SPY, SCHA, RLY |
| Q3 2024 | 74 | $312.0M | TWO RDS SHARED TR, MOAT, SPY, RLY, SCHA |
| Q2 2024 | 71 | $290.6M | TWO RDS SHARED TR, MOAT, SPY, RLY, SCHA |
| Q1 2024 | 69 | $289.7M | TWO RDS SHARED TR, MOAT, RLY, SPY, SCHA |