First International Bank & Trust

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 16, 2024), First International Bank & Trust reported 69 stock positions worth $289.7 million. Its top holding was Two RDS Shared TR at 23.9% of the portfolio, followed by Vaneck Morningstar Wide Moat (MOAT, 14.4%) and SS Multi-Asset Real Ret ETF (RLY, 7.9%). Compared with Q4 2023, it opened 4 new positions, sold out of 3, added to 17 and reduced 20. The biggest buy was a new position in SS Multi-Asset Real Ret ETF (RLY) and the biggest sale SS SPDR P S&P 400 Midcap ETF (SPMD, shares −57%).

Most Recent 13F
Q3 2025
Location
WATFORD CITY, ND
CIK
0001910370
Portfolio Value
$289.7M (Q1 2024)
SEC Filing
0000930413-24-001299 ↗ filed Apr 16, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $289.7M $289.7M Q1 2024 Q2 2024: $290.6M Q2 2024 Q3 2024: $312.0M Q3 2024 Q4 2024: $308.7M Q4 2024 Q1 2025: $316.2M Q1 2025 Q2 2025: $287.5M Q2 2025 Q3 2025: $287.7M Q3 2025

Holdings 69 stocks · $289.7M
TWO RDS SHARED TR 23.94% 7,620,234 $69.3M Add +4.6%
MOAT Vaneck Morningstar Wide Moat 14.36% 462,730 $41.6M Add +42.8%
RLY SS Multi-Asset Real Ret ETF 7.86% 814,580 $22.8M New
SPY SS SPDR S&P 500 ETF Trust-US 7.62% 42,174 $22.1M Reduce -9.5%
SCHA Schwab US Small-Cap ETF 7.27% 427,919 $21.1M Add +174.6%
ANFIELD US EQUITY SECTOR ROT 6.18% 1,149,538 $17.9M Reduce -38.5%
DXJ Wisdomtree Japan Hedged Eq 6.01% 160,471 $17.4M Add +90.2%
SPMD SS SPDR P S&P 400 Midcap ETF 3.67% 199,476 $10.6M Reduce -56.9%
BIL SS SPDR BB 1-3M T-Bill ETF 2.28% 71,795 $6.6M Reduce -18.8%
JPST JPMorgan Ultra-Short Income 2.11% 120,961 $6.1M Reduce -25.4%
ICSH iShares Ultra Short Duration 2.10% 120,398 $6.1M Reduce -18.9%
MUNI PIMCO Intermediate Municipal 1.36% 75,160 $3.9M Add +3.7%
IFLN Invesco Bloomberg Enhanced F 1.19% 190,275 $3.4M New
MSFT Microsoft Corp. 1.03% 7,069 $3.0M Reduce -7.8%
MUB iShares National Muni Bond E 1.00% 26,965 $2.9M Add +3.0%
SHM SS SPDR N Ice St Muni ETF 0.94% 57,090 $2.7M Add +0.4%
ALKT Alkami Technology Inc. 0.84% 99,117 $2.4M Reduce -4.8%
IGSB iShares 1-5Y Inv Grade Corp. 0.71% 40,336 $2.1M Add +5.0%
ACWV iShares MSCI Global Min Vol 0.57% 15,755 $1.7M No change
FEZ State Street SPDR Euro Stoxx 0.49% 26,878 $1.4M Reduce -85.8%
BRK.A Berkshire Hathaway Inc. Class A 0.44% 2 $1.3M No change
XLV SS Health Care Select Sector 0.41% 8,025 $1.2M No change
QQQ Invesco QQQ Trust Series 1 0.35% 2,295 $1.0M Reduce -0.7%
AAPL Apple Inc. 0.34% 5,788 $993K Reduce -1.0%
DE Deere & Co. 0.32% 2,264 $930K Add +6.1%
VBK Van Morst SML-Cap Gro-Usd Inc. 0.32% 3,548 $925K Reduce -2.3%
BRK.B Berkshire Hathaway Inc. Class B 0.31% 2,166 $911K Add +6.5%
MDYG SS SPDR S&P 400 MC GR ETF 0.30% 10,089 $881K Reduce -3.0%
VUG Vanguard Mrngstar GR ETF-Sui 0.26% 2,206 $759K Reduce -0.7%
AXP American Express Co. 0.25% 3,185 $725K Add +8.7%
WMT Walmart Inc. 0.24% 11,430 $688K No change
AMZN Amazon.com Inc. 0.23% 3,650 $658K No change
ADP Automatic Data Processing 0.22% 2,552 $637K No change
MCD McDonald's Corp. 0.22% 2,247 $634K Reduce -0.3%
VOE Vngrd Mrngstr MD-Cap Val ETF 0.21% 3,982 $621K Reduce -1.6%
IWP iShares Russell Mid-Cap Grow 0.19% 4,745 $542K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.18% 3,190 $520K Reduce -0.9%
PEP Pepsico Inc. 0.18% 2,958 $518K No change
COST Costco Wholesale Corp. 0.16% 638 $467K No change
ORCL Oracle Corp. 0.16% 3,667 $461K No change
XLK SS Technology Select Sector 0.16% 2,178 $454K No change
MBB iShares MBS ETF 0.16% 4,877 $451K Add +1.9%
VNQ Vanguard Real Estate ETF 0.14% 4,734 $409K Add +1.7%
ABBV Abbvie Inc. 0.14% 2,212 $403K No change
XOM Exxon Mobil Corp. 0.14% 3,443 $400K No change
JAAA Janus Henderson Aaa Clo ETF 0.14% 7,864 $399K No change
LOW Lowe's Cos Inc. 0.14% 1,553 $396K No change
FLOT iShares Floating Rate Bond E 0.14% 7,742 $395K No change
CSR Centerspace 0.14% 6,860 $392K No change
GSLC Goldman Activebeta US LC ETF 0.13% 3,623 $376K No change
JNJ Johnson & Johnson 0.12% 2,130 $337K No change
KO The Coca-Cola Co. 0.12% 5,468 $335K No change
AFL Aflac Inc. 0.11% 3,741 $321K Add +1.7%
CVX Chevron Corp. 0.11% 1,949 $307K Add +20.8%
PG The Procter & Gamble Co. 0.10% 1,823 $296K No change
SLYV SS SPDR S&P 600 SC Val ETF 0.10% 3,555 $295K Reduce -2.5%
V Visa Inc. Class A 0.10% 1,055 $294K No change
XLP SS Consumer Staples Sel Sect 0.10% 3,677 $281K No change
AMGN Amgen Inc. 0.09% 947 $269K No change
CAT Caterpillar Inc. 0.09% 725 $266K No change
COP Conocophillips 0.09% 1,989 $253K Add +3.0%
CSCO Cisco Systems Inc. 0.08% 4,930 $246K No change
VZ Verizon Communications Inc. 0.08% 5,779 $242K New
CL Colgate-Palmolive Co. 0.08% 2,686 $242K Reduce -2.0%
XLF SS Financial Select Sector 0.08% 5,649 $238K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.08% 1,229 $235K Reduce -5.0%
XLC SS Comm Select Sector SPDR 0.08% 2,845 $232K No change
UNH Unitedhealth Group Inc. 0.08% 454 $225K Add +3.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.07% 1,754 $215K New

Portfolio Sells Q4 2023 → Q1 2024
SPMD SS SPDR P S&P 400 Midcap ETF Reduce -56.9% 3.67% −5.13
ANFIELD US EQUITY SECTOR ROT Reduce -38.5% 6.18% −3.91
FEZ State Street SPDR Euro Stoxx Reduce -85.8% 0.49% −3.05
JNK SS SPDR BB High Yield Bond Sold out 0.00% −1.31
JPST JPMorgan Ultra-Short Income Reduce -25.4% 2.11% −1.08
SPY SS SPDR S&P 500 ETF Trust-US Reduce -9.5% 7.62% −1.05
BIL SS SPDR BB 1-3M T-Bill ETF Reduce -18.8% 2.28% −0.88
ICSH iShares Ultra Short Duration Reduce -18.9% 2.10% −0.82
ALKT Alkami Technology Inc. Reduce -4.8% 0.84% −0.15
BA The Boeing Co. Sold out 0.00% −0.10
MSFT Microsoft Corp. Reduce -7.8% 1.03% −0.10
AAPL Apple Inc. Reduce -1.0% 0.34% −0.10
TWO RDS SHARED TR Sold out 0.00% −0.05
MCD McDonald's Corp. Reduce -0.3% 0.22% −0.04
VBK Van Morst SML-Cap Gro-Usd Inc. Reduce -2.3% 0.32% −0.02
QQQ Invesco QQQ Trust Series 1 Reduce -0.7% 0.35% −0.02
SLYV SS SPDR S&P 600 SC Val ETF Reduce -2.5% 0.10% −0.02
VOE Vngrd Mrngstr MD-Cap Val ETF Reduce -1.6% 0.21% −0.02
VTV Vanguard Mrngstr Val ETF-Aui Reduce -0.9% 0.18% −0.01
VUG Vanguard Mrngstar GR ETF-Sui Reduce -0.7% 0.26% −0.01
MDYG SS SPDR S&P 400 MC GR ETF Reduce -3.0% 0.30% −0.00
CL Colgate-Palmolive Co. Reduce -2.0% 0.08% −0.00
IBM Intl Business Machines Corp. Reduce -5.0% 0.08% −0.00

Portfolio Buys Q4 2023 → Q1 2024
RLY SS Multi-Asset Real Ret ETF New 7.86% +7.86
SCHA Schwab US Small-Cap ETF Add +174.6% 7.27% +4.40
MOAT Vaneck Morningstar Wide Moat Add +42.8% 14.36% +3.60
DXJ Wisdomtree Japan Hedged Eq Add +90.2% 6.01% +3.11
IFLN Invesco Bloomberg Enhanced F New 1.19% +1.19
VZ Verizon Communications Inc. New 0.08% +0.08
DIS The Walt Disney Co. New 0.07% +0.07
AXP American Express Co. Add +8.7% 0.25% +0.04
BRK.B Berkshire Hathaway Inc. Class B Add +6.5% 0.31% +0.03
CVX Chevron Corp. Add +20.8% 0.11% +0.01
COP Conocophillips Add +3.0% 0.09% −0.00
AFL Aflac Inc. Add +1.7% 0.11% −0.01
DE Deere & Co. Add +6.1% 0.32% −0.01
UNH Unitedhealth Group Inc. Add +3.0% 0.08% −0.01
VNQ Vanguard Real Estate ETF Add +1.7% 0.14% −0.02
MBB iShares MBS ETF Add +1.9% 0.16% −0.02
IGSB iShares 1-5Y Inv Grade Corp. Add +5.0% 0.71% −0.06
MUB iShares National Muni Bond E Add +3.0% 1.00% −0.11
SHM SS SPDR N Ice St Muni ETF Add +0.4% 0.94% −0.13
MUNI PIMCO Intermediate Municipal Add +3.7% 1.36% −0.14
TWO RDS SHARED TR Add +4.6% 23.94% −1.82

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q3 2025 56$287.7MTWO RDS SHARED TR, SPHQ, RLY, SPY, DXJ
Q2 2025 63$287.5MTWO RDS SHARED TR, SPHQ, RLY, SPY, DXJ
Q1 2025 70$316.2MTWO RDS SHARED TR, MOAT, RLY, SPY, DXJ
Q4 2024 70$308.7MTWO RDS SHARED TR, MOAT, SPY, SCHA, RLY
Q3 2024 74$312.0MTWO RDS SHARED TR, MOAT, SPY, RLY, SCHA
Q2 2024 71$290.6MTWO RDS SHARED TR, MOAT, SPY, RLY, SCHA
Q1 2024 69$289.7MTWO RDS SHARED TR, MOAT, RLY, SPY, SCHA