First International Bank & Trust
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 8, 2025), First International Bank & Trust reported 63 stock positions worth $287.5 million. Its top holding was Two RDS Shared TR at 25.3% of the portfolio, followed by Invesco S&P 500 Quality ETF (SPHQ, 14.1%) and SS Multi-Asset Real Ret ETF (RLY, 8.1%). Compared with Q1 2025, it opened 6 new positions, sold out of 13, added to 6 and reduced 35. The biggest buy was a new position in Invesco S&P 500 Quality ETF (SPHQ) and the biggest sale Vaneck Morningstar Wide Moat (MOAT, shares −96%).
- Most Recent 13F
- Q3 2025
- Location
- WATFORD CITY, ND
- CIK
- 0001910370
- Portfolio Value
- $287.5M (Q2 2025)
- SEC Filing
- 0000930413-25-002128 ↗ filed Jul 8, 2025
Holdings Value
Holdings 63 stocks · $287.5M
| TWO RDS SHARED TR | 25.32% | 7,815,816 | $72.8M | Reduce -5.9% |
| SPHQ Invesco S&P 500 Quality ETF | 14.11% | 569,374 | $40.6M | New |
| RLY SS Multi-Asset Real Ret ETF | 8.15% | 804,999 | $23.4M | Reduce -6.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 6.37% | 29,653 | $18.3M | Reduce -30.6% |
| DXJ Wisdomtree Japan Hedged Eq | 5.95% | 149,680 | $17.1M | Reduce -14.3% |
| ANFIELD US EQUITY SECTOR ROT | 4.92% | 746,296 | $14.1M | Reduce -25.4% |
| SMLF iShares US Smallcap Equity F | 4.26% | 180,244 | $12.2M | Reduce -6.0% |
| XMHQ Invesco S&P Midcap Qual ETF | 3.92% | 114,598 | $11.3M | Reduce -4.9% |
| LMBS First Trust Low Duration Opp | 3.61% | 210,826 | $10.4M | Reduce -5.6% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 1.97% | 61,870 | $5.7M | Reduce -10.7% |
| JPST JPMorgan Ultra-Short Income | 1.97% | 111,573 | $5.7M | Reduce -10.9% |
| ICSH iShares Ultra Short Duration | 1.96% | 111,382 | $5.6M | Reduce -10.9% |
| BRK.A Berkshire Hathaway Inc. Class A | 1.27% | 5 | $3.6M | Add +66.7% |
| JAAA Janus Henderson Aaa Clo ETF | 1.15% | 65,008 | $3.3M | Reduce -5.4% |
| SCHA Schwab US Small-Cap ETF | 1.08% | 122,760 | $3.1M | Reduce -28.5% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 1.03% | 54,693 | $3.0M | Reduce -31.6% |
| MUNI PIMCO Intermediate Municipal | 1.03% | 57,498 | $3.0M | Reduce -24.8% |
| MSFT Microsoft Corp. | 0.88% | 5,103 | $2.5M | Reduce -4.7% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.80% | 43,460 | $2.3M | No change |
| SHM SS SPDR N Ice St Muni ETF | 0.76% | 45,725 | $2.2M | Reduce -22.6% |
| MOAT Vaneck Morningstar Wide Moat | 0.74% | 22,539 | $2.1M | Reduce -95.6% |
| MUB iShares National Muni Bond E | 0.73% | 20,006 | $2.1M | Reduce -26.9% |
| WMT Walmart Inc. | 0.63% | 18,561 | $1.8M | Add +5.2% |
| COST Costco Wholesale Corp. | 0.59% | 1,723 | $1.7M | Add +1.6% |
| AXP American Express Co. | 0.56% | 5,071 | $1.6M | Add +1.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.52% | 3,056 | $1.5M | Add +7.3% |
| ALKT Alkami Technology Inc. | 0.49% | 46,310 | $1.4M | No change |
| DE Deere & Co. | 0.37% | 2,089 | $1.1M | Reduce -8.5% |
| AAPL Apple Inc. | 0.35% | 4,950 | $1.0M | Reduce -27.3% |
| VNQ Vanguard Real Estate ETF | 0.33% | 10,687 | $952K | Reduce -4.5% |
| AMZN Amazon.com Inc. | 0.27% | 3,530 | $774K | Reduce -7.9% |
| ADP Automatic Data Processing | 0.26% | 2,453 | $757K | No change |
| PPLT Abrdn Physical Platinum SHRS | 0.26% | 6,145 | $755K | New |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.23% | 1,511 | $662K | Reduce -21.1% |
| CVX Chevron Corp. | 0.22% | 4,500 | $644K | Add +3.8% |
| XLK SS Technology Select Sector | 0.19% | 2,178 | $552K | No change |
| SLV iShares Silver Trust | 0.18% | 16,066 | $527K | New |
| VZ Verizon Communications Inc. | 0.16% | 10,372 | $449K | No change |
| GSLC Goldman Activebeta US LC ETF | 0.15% | 3,623 | $440K | No change |
| FLOT iShares Floating Rate Bond E | 0.14% | 7,742 | $395K | No change |
| V Visa Inc. Class A | 0.13% | 1,055 | $375K | No change |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.12% | 1,952 | $345K | Reduce -5.1% |
| CSCO Cisco Systems Inc. | 0.12% | 4,860 | $337K | No change |
| XLV SS Health Care Select Sector | 0.12% | 2,452 | $331K | Reduce -69.5% |
| XLC SS Comm Select Sector SPDR | 0.11% | 2,845 | $309K | No change |
| XLF SS Financial Select Sector | 0.10% | 5,649 | $296K | No change |
| IFLN Invesco Bloomberg Enhanced F | 0.10% | 15,761 | $291K | Reduce -26.3% |
| LOW Lowe's Cos Inc. | 0.10% | 1,303 | $289K | Reduce -12.3% |
| PM Philip Morris International | 0.10% | 1,526 | $278K | No change |
| AMGN Amgen Inc. | 0.09% | 953 | $266K | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.09% | 899 | $265K | No change |
| ORCL Oracle Corp. | 0.09% | 1,174 | $257K | Reduce -65.1% |
| AFL Aflac Inc. | 0.09% | 2,345 | $247K | Reduce -32.6% |
| CSR Centerspace | 0.08% | 3,860 | $232K | No change |
| MCD McDonald's Corp. | 0.08% | 782 | $228K | Reduce -39.9% |
| KO The Coca-Cola Co. | 0.08% | 3,200 | $226K | Reduce -20.8% |
| LMT Lockheed Martin Corp. | 0.08% | 482 | $223K | No change |
| XOM Exxon Mobil Corp. | 0.08% | 2,055 | $222K | Reduce -34.1% |
| PFE Pfizer Inc. | 0.07% | 8,762 | $212K | Reduce -3.3% |
| IWP iShares Russell Mid-Cap Grow | 0.07% | 1,514 | $210K | Reduce -65.3% |
| BA The Boeing Co. | 0.07% | 1,000 | $210K | New |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.07% | 1,680 | $208K | New |
| ABT Abbott Laboratories | 0.07% | 1,471 | $200K | New |
Portfolio Sells Q1 2025 → Q2 2025
| MOAT Vaneck Morningstar Wide Moat | Reduce -95.6% | 0.74% | −13.40 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -30.6% | 6.37% | −1.18 |
| ACWV iShares MSCI Global Min Vol | Sold out | 0.00% | −0.56 |
| QQQ Invesco QQQ Trust Series 1 | Sold out | 0.00% | −0.33 |
| ANFIELD US EQUITY SECTOR ROT | Reduce -25.4% | 4.92% | −0.29 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Reduce -31.6% | 1.03% | −0.26 |
| XLV SS Health Care Select Sector | Reduce -69.5% | 0.12% | −0.26 |
| MDYG SS SPDR S&P 400 MC GR ETF | Sold out | 0.00% | −0.25 |
| MUNI PIMCO Intermediate Municipal | Reduce -24.8% | 1.03% | −0.22 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | Sold out | 0.00% | −0.21 |
| SCHA Schwab US Small-Cap ETF | Reduce -28.5% | 1.08% | −0.19 |
| MUB iShares National Muni Bond E | Reduce -26.9% | 0.73% | −0.19 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Sold out | 0.00% | −0.18 |
| DXJ Wisdomtree Japan Hedged Eq | Reduce -14.3% | 5.95% | −0.14 |
| SHM SS SPDR N Ice St Muni ETF | Reduce -22.6% | 0.76% | −0.13 |
| AAPL Apple Inc. | Reduce -27.3% | 0.35% | −0.12 |
| PEP Pepsico Inc. | Sold out | 0.00% | −0.12 |
| JNJ Johnson & Johnson | Sold out | 0.00% | −0.11 |
| PG The Procter & Gamble Co. | Sold out | 0.00% | −0.10 |
| XLP SS Consumer Staples Sel Sect | Sold out | 0.00% | −0.10 |
| ABBV Abbvie Inc. | Sold out | 0.00% | −0.09 |
| IWP iShares Russell Mid-Cap Grow | Reduce -65.3% | 0.07% | −0.09 |
| CAT Caterpillar Inc. | Sold out | 0.00% | −0.07 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Sold out | 0.00% | −0.07 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Sold out | 0.00% | −0.07 |
| ORCL Oracle Corp. | Reduce -65.1% | 0.09% | −0.06 |
| MCD McDonald's Corp. | Reduce -39.9% | 0.08% | −0.05 |
| XOM Exxon Mobil Corp. | Reduce -34.1% | 0.08% | −0.04 |
| ICSH iShares Ultra Short Duration | Reduce -10.9% | 1.96% | −0.04 |
| JPST JPMorgan Ultra-Short Income | Reduce -10.9% | 1.97% | −0.04 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -10.7% | 1.97% | −0.04 |
| AFL Aflac Inc. | Reduce -32.6% | 0.09% | −0.04 |
| IFLN Invesco Bloomberg Enhanced F | Reduce -26.3% | 0.10% | −0.02 |
| KO The Coca-Cola Co. | Reduce -20.8% | 0.08% | −0.01 |
| LOW Lowe's Cos Inc. | Reduce -12.3% | 0.10% | −0.01 |
| PFE Pfizer Inc. | Reduce -3.3% | 0.07% | +0.00 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -21.1% | 0.23% | +0.01 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -5.1% | 0.12% | +0.01 |
| VNQ Vanguard Real Estate ETF | Reduce -4.5% | 0.33% | +0.01 |
| DE Deere & Co. | Reduce -8.5% | 0.37% | +0.03 |
| AMZN Amazon.com Inc. | Reduce -7.9% | 0.27% | +0.04 |
| JAAA Janus Henderson Aaa Clo ETF | Reduce -5.4% | 1.15% | +0.05 |
| LMBS First Trust Low Duration Opp | Reduce -5.6% | 3.61% | +0.14 |
| MSFT Microsoft Corp. | Reduce -4.7% | 0.88% | +0.25 |
| RLY SS Multi-Asset Real Ret ETF | Reduce -6.3% | 8.15% | +0.39 |
| XMHQ Invesco S&P Midcap Qual ETF | Reduce -4.9% | 3.92% | +0.43 |
| SMLF iShares US Smallcap Equity F | Reduce -6.0% | 4.26% | +0.49 |
| TWO RDS SHARED TR | Reduce -5.9% | 25.32% | +1.12 |
Portfolio Buys Q1 2025 → Q2 2025
| SPHQ Invesco S&P 500 Quality ETF | New | 14.11% | +14.11 |
| BRK.A Berkshire Hathaway Inc. Class A | Add +66.7% | 1.27% | +0.51 |
| PPLT Abrdn Physical Platinum SHRS | New | 0.26% | +0.26 |
| SLV iShares Silver Trust | New | 0.18% | +0.18 |
| WMT Walmart Inc. | Add +5.2% | 0.63% | +0.14 |
| AXP American Express Co. | Add +1.9% | 0.56% | +0.14 |
| COST Costco Wholesale Corp. | Add +1.6% | 0.59% | +0.09 |
| BA The Boeing Co. | New | 0.07% | +0.07 |
| DIS The Walt Disney Co. | New | 0.07% | +0.07 |
| ABT Abbott Laboratories | New | 0.07% | +0.07 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +7.3% | 0.52% | +0.04 |
| CVX Chevron Corp. | Add +3.8% | 0.22% | −0.01 |
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 |