First Interstate Bank

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 1, 2024), First Interstate Bank reported 170 stock positions worth $1.4 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 12.5% of the portfolio, followed by Vanguard Int-Term Corporate (VCIT, 9.9%) and Vanguard Intermediate-Term T (VGIT, 9.3%). Compared with Q4 2023, it opened 16 new positions, sold out of 5, added to 22 and reduced 109. The biggest buy was a new position in Vanguard Mortgage-Backed Sec (VMBS) and the biggest sale First Interstate Bancsys-A (FIBK, shares −3%).

Most Recent 13F
Q2 2026
Location
Billings, MT
CIK
0001125727
Portfolio Value
$1.4B (Q1 2024)
SEC Filing
0001125727-24-000006 ↗ filed May 1, 2024

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $1.4B $1.4B Q1 2024 Q2 2024: $1.5B Q2 2024 Q3 2024: $1.6B Q3 2024 Q4 2024: $1.7B Q4 2024 Q1 2025: $1.7B Q1 2025 Q2 2025: $1.7B Q2 2025 Q3 2025: $1.8B Q3 2025 Q4 2025: $1.9B Q4 2025 Q1 2026: $1.8B Q1 2026 Q2 2026: $1.9B Q2 2026

Holdings 170 stocks · $1.4B
IVV iShares Core S&P 500 ETF 12.51% 343,532 $180.6M Reduce -1.3%
VCIT Vanguard Int-Term Corporate 9.88% 1,771,429 $142.6M Add +5.2%
VGIT Vanguard Intermediate-Term T 9.33% 2,300,861 $134.7M Add +3.9%
FIBK First Interstate Bancsys-A 9.28% 4,923,465 $134.0M Reduce -3.2%
IJH iShares Core S&P Midcap ETF 5.93% 1,409,159 $85.6M Add +3.9%
HEFA Isha Curr Hedged MSCI Eafe 5.72% 2,366,477 $82.5M Add +33.1%
IJR iShares Core S&P Small-Cap E 3.78% 493,240 $54.5M Reduce -1.3%
PFF iShares Preferred & Income S 3.60% 1,612,068 $52.0M Add +13.5%
VMBS Vanguard Mortgage-Backed Sec 2.60% 824,094 $37.6M New
IBDX iShares Ibonds Dec 2032 TC 1.87% 1,086,234 $26.9M Add +20.9%
XLK SS Technology Select Sector 1.85% 127,934 $26.6M Reduce -4.0%
PAVE Global X US Infrastructure 1.80% 651,479 $25.9M New
IBDY iShares Ibonds Dec 2033 Corp. 1.72% 975,698 $24.9M Add +29.5%
XLV SS Health Care Select Sector 1.60% 156,502 $23.1M Reduce -5.0%
MSFT Microsoft Corp. 1.41% 48,357 $20.3M Reduce -4.0%
AMZN Amazon.com Inc. 1.29% 103,049 $18.6M Reduce -5.2%
AAPL Apple Inc. 1.10% 92,471 $15.9M Reduce -5.3%
XLE SS Energy Select Sector 1.06% 161,688 $15.3M Reduce -4.9%
XLI SS Industrial Select Sector 0.92% 105,535 $13.3M Reduce -4.4%
GOOGL Alphabet Inc. Class A 0.74% 71,002 $10.7M Reduce -5.5%
XLC SS Comm Select Sector SPDR 0.74% 130,957 $10.7M Reduce -1.6%
LOW Lowe's Cos Inc. 0.71% 40,037 $10.2M Reduce -6.4%
IEUR iShares Core MSCI Europe ETF 0.70% 175,831 $10.2M Reduce -75.8%
BRK.B Berkshire Hathaway Inc. Class B 0.70% 24,034 $10.1M Reduce -5.0%
XLF SS Financial Select Sector 0.70% 239,567 $10.1M Reduce -0.4%
JPM JPMorgan Chase & Co. 0.61% 43,802 $8.8M Reduce -4.4%
XSD SS SPDR S&P Semiconductor 0.56% 34,854 $8.1M Reduce -4.1%
CSCO Cisco Systems Inc. 0.54% 157,367 $7.9M Reduce -1.8%
XLB SS Materials Select Sector 0.54% 83,168 $7.7M Reduce -5.1%
XLRE SS Real Estate Select Sector 0.52% 191,343 $7.6M Add +40.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.50% 59,291 $7.3M Reduce -6.4%
XLP SS Consumer Staples Sel Sect 0.49% 92,557 $7.1M Reduce -1.0%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.46% 102,035 $6.7M Add +70.8%
XLY SS Consumer Disc Select Sect 0.46% 35,967 $6.6M Add +1.9%
WMT Walmart Inc. 0.46% 109,838 $6.6M Reduce -5.6%
UNH Unitedhealth Group Inc. 0.46% 13,283 $6.6M Reduce -5.3%
PANW Palo Alto Networks Inc. 0.45% 22,781 $6.5M Reduce -3.7%
AXP American Express Co. 0.43% 27,040 $6.2M Reduce -6.4%
IBB iShares Biotechnology ETF 0.39% 41,108 $5.6M Reduce -3.1%
COST Costco Wholesale Corp. 0.38% 7,451 $5.5M Reduce -6.0%
MDLZ Mondelez International Inc. Class A 0.36% 75,224 $5.3M Reduce -3.5%
NKE Nike Inc. Class B 0.36% 54,831 $5.2M Reduce -3.2%
CRM Salesforce Inc. 0.35% 17,015 $5.1M Reduce -5.9%
MCD McDonald's Corp. 0.35% 18,064 $5.1M Reduce -4.5%
UNP Union Pacific Corp. 0.35% 20,523 $5.0M Reduce -4.7%
GS Goldman Sachs Group Inc. 0.34% 11,803 $4.9M Reduce -5.4%
PEP Pepsico Inc. 0.33% 27,299 $4.8M Reduce -3.2%
BX Blackstone Inc. 0.33% 35,829 $4.7M Reduce -4.7%
SCHW Schwab (charles) Corp. 0.30% 60,804 $4.4M Reduce -4.8%
EFA iShares MSCI Eafe ETF 0.26% 47,547 $3.8M Reduce -4.4%
HON Honeywell International Inc. 0.25% 17,377 $3.6M Reduce -3.3%
C Citigroup Inc. 0.24% 54,697 $3.5M Reduce -3.9%
SPY SS SPDR S&P 500 ETF Trust-US 0.24% 6,526 $3.4M Reduce -14.3%
QCOM Qualcomm Inc. 0.23% 19,787 $3.3M Reduce -3.8%
EMR Emerson Electric Co. 0.23% 28,783 $3.3M Reduce -6.7%
BMY Bristol-Myers Squibb Co. 0.22% 59,602 $3.2M Reduce -3.3%
MAS Masco Corp. 0.22% 40,442 $3.2M Reduce -6.0%
CMCSA Comcast Corp. Class A 0.22% 73,397 $3.2M Reduce -4.5%
BRK.A Berkshire Hathaway Inc. Class A 0.22% 5 $3.2M No change
AGG iShares Core U.S. Aggregate 0.22% 32,007 $3.1M Reduce -82.5%
ICE Intercontinental Exchange Inc. 0.21% 21,677 $3.0M Reduce -5.2%
ABT Abbott Laboratories 0.21% 26,202 $3.0M Reduce -3.9%
TLT iShares 20+ Year Treasury BD 0.18% 26,938 $2.5M Reduce -0.7%
SWKS Skyworks Solutions Inc. 0.17% 23,042 $2.5M Reduce -4.4%
NVDA Nvidia Corp. 0.16% 2,541 $2.3M Reduce -15.9%
RSP Invesco S&P 500 Equal Weight 0.15% 12,975 $2.2M Add +74.1%
EEM iShares MSCI Emerging Market 0.14% 50,183 $2.1M Reduce -42.1%
HD Home Depot Inc. 0.14% 5,159 $2.0M Reduce -4.1%
FDX FedEx Corp. 0.14% 6,768 $2.0M Reduce -4.5%
VOO Vanguard S&P 500 ETF 0.13% 3,944 $1.9M Reduce -0.5%
XOM Exxon Mobil Corp. 0.12% 14,669 $1.7M Add +34.6%
ORCL Oracle Corp. 0.11% 12,642 $1.6M Reduce -1.1%
META Meta Platforms Inc. Class A 0.11% 3,242 $1.6M Reduce -4.5%
FISV Fiserv Inc. 0.10% 9,357 $1.5M Reduce -1.4%
ABBV Abbvie Inc. 0.10% 8,085 $1.5M Add +9.0%
MRK Merck & Co. Inc. 0.10% 11,062 $1.5M Reduce -6.1%
JNJ Johnson & Johnson 0.10% 8,876 $1.4M Reduce -2.8%
TMO Thermo Fisher Scientific Inc. 0.09% 2,280 $1.3M Reduce -1.9%
GOOG Alphabet Inc. Class C 0.09% 8,701 $1.3M Reduce -1.5%
PG The Procter & Gamble Co. 0.09% 7,976 $1.3M Reduce -6.3%
SCHO Schwab Short-Term US Treas 0.09% 25,822 $1.2M No change
BSV Vanguard Short-Term Bond ETF 0.08% 15,703 $1.2M Reduce -7.4%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.08% 14,026 $1.1M No change
VCSH Vanguard S/T Corp. Bond ETF 0.08% 14,026 $1.1M Reduce -10.6%
V Visa Inc. Class A 0.07% 3,745 $1.0M Reduce -12.9%
IWV iShares Russell 3000 ETF 0.07% 3,482 $1.0M No change
VWO Vanguard Ftse Emerging Marke 0.07% 24,920 $1.0M Reduce -24.3%
CVX Chevron Corp. 0.07% 6,404 $1.0M Reduce -4.6%
INTC Intel Corp. 0.06% 20,616 $911K Reduce -0.8%
IWM iShares Russell 2000 ETF 0.06% 4,251 $894K Reduce -2.4%
AEM Agnico Eagle Mines Ltd. 0.06% 14,779 $882K No change
MA Mastercard Inc. Class A 0.06% 1,792 $863K Reduce -8.1%
SYK Stryker Corp. 0.06% 2,348 $840K Reduce -1.8%
DHR Danaher Corp. 0.06% 3,298 $824K Reduce -2.5%
ADP Automatic Data Processing 0.05% 3,113 $777K Reduce -2.5%
IBDP iShares Ibonds Dec 2024 Term 0.05% 30,252 $758K Add +0.4%
VNQ Vanguard Real Estate ETF 0.05% 8,757 $757K Reduce -0.1%
VT Vanguard Tot World STK ETF 0.05% 6,850 $757K No change
HYMB SS SPDR N Ice HY Muni ETF 0.05% 29,331 $754K New
IBDQ iShares Ibonds Dec 2025 Term 0.05% 30,258 $751K Add +0.1%

Show all 170 holdings

Portfolio Sells Q4 2023 → Q1 2024
FIBK First Interstate Bancsys-A Reduce -3.2% 9.28% −2.31
IEUR iShares Core MSCI Europe ETF Reduce -75.8% 0.70% −2.25
AGG iShares Core U.S. Aggregate Reduce -82.5% 0.22% −1.13
AAPL Apple Inc. Reduce -5.3% 1.10% −0.29
IJR iShares Core S&P Small-Cap E Reduce -1.3% 3.78% −0.23
EEM iShares MSCI Emerging Market Reduce -42.1% 0.14% −0.12
NKE Nike Inc. Class B Reduce -3.2% 0.36% −0.10
UNH Unitedhealth Group Inc. Reduce -5.3% 0.46% −0.09
PANW Palo Alto Networks Inc. Reduce -3.7% 0.45% −0.07
MCD McDonald's Corp. Reduce -4.5% 0.35% −0.06
XLV SS Health Care Select Sector Reduce -5.0% 1.60% −0.06
CSCO Cisco Systems Inc. Reduce -1.8% 0.54% −0.06
XLK SS Technology Select Sector Reduce -4.0% 1.85% −0.05
MDLZ Mondelez International Inc. Class A Reduce -3.5% 0.36% −0.05
BA The Boeing Co. Sold out 0.00% −0.05
XSD SS SPDR S&P Semiconductor Reduce -4.1% 0.56% −0.05
UNP Union Pacific Corp. Reduce -4.7% 0.35% −0.04
BX Blackstone Inc. Reduce -4.7% 0.33% −0.04
IBB iShares Biotechnology ETF Reduce -3.1% 0.39% −0.04
GOOGL Alphabet Inc. Class A Reduce -5.5% 0.74% −0.04
MDU Mdu Resources Group Inc. Sold out 0.00% −0.03
HON Honeywell International Inc. Reduce -3.3% 0.25% −0.03
SPY SS SPDR S&P 500 ETF Trust-US Reduce -14.3% 0.24% −0.03
CMCSA Comcast Corp. Class A Reduce -4.5% 0.22% −0.03
KNF Knife River Corp. Sold out 0.00% −0.03
VWO Vanguard Ftse Emerging Marke Reduce -24.3% 0.07% −0.03
SWKS Skyworks Solutions Inc. Reduce -4.4% 0.17% −0.03
PEP Pepsico Inc. Reduce -3.2% 0.33% −0.02
TLT iShares 20+ Year Treasury BD Reduce -0.7% 0.18% −0.02
SCHW Schwab (charles) Corp. Reduce -4.8% 0.30% −0.02
XLB SS Materials Select Sector Reduce -5.1% 0.54% −0.02
VUG Vanguard Mrngstar GR ETF-Sui Sold out 0.00% −0.02
ABT Abbott Laboratories Reduce -3.9% 0.21% −0.02
VTIP Vanguard Short-Term Tips Reduce -37.0% 0.02% −0.02
GS Goldman Sachs Group Inc. Reduce -5.4% 0.34% −0.02
EFA iShares MSCI Eafe ETF Reduce -4.4% 0.26% −0.01
SRE Sempra Sold out 0.00% −0.01
VCSH Vanguard S/T Corp. Bond ETF Reduce -10.6% 0.08% −0.01
INTC Intel Corp. Reduce -0.8% 0.06% −0.01
BSV Vanguard Short-Term Bond ETF Reduce -7.4% 0.08% −0.01
XLI SS Industrial Select Sector Reduce -4.4% 0.92% −0.01
ICE Intercontinental Exchange Inc. Reduce -5.2% 0.21% −0.01
ADBE Adobe Inc. Reduce -17.6% 0.02% −0.01
BMY Bristol-Myers Squibb Co. Reduce -3.3% 0.22% −0.01
V Visa Inc. Class A Reduce -12.9% 0.07% −0.01
COST Costco Wholesale Corp. Reduce -6.0% 0.38% −0.01
XLP SS Consumer Staples Sel Sect Reduce -1.0% 0.49% −0.01
JNJ Johnson & Johnson Reduce -2.8% 0.10% −0.01
TSN Tyson Foods Inc. Class A Reduce -25.1% 0.03% −0.01
SPGI S&P Global Inc. Reduce -11.7% 0.03% −0.01

Portfolio Buys Q4 2023 → Q1 2024
VMBS Vanguard Mortgage-Backed Sec New 2.60% +2.60
PAVE Global X US Infrastructure New 1.80% +1.80
HEFA Isha Curr Hedged MSCI Eafe Add +33.1% 5.72% +1.57
IJH iShares Core S&P Midcap ETF Add +3.9% 5.93% +0.36
PFF iShares Preferred & Income S Add +13.5% 3.60% +0.32
IBDY iShares Ibonds Dec 2033 Corp. Add +29.5% 1.72% +0.28
IBDX iShares Ibonds Dec 2032 TC Add +20.9% 1.87% +0.19
XLU St Sr Utl SL SE SPDR ETF-Usd Add +70.8% 0.46% +0.18
XLRE SS Real Estate Select Sector Add +40.5% 0.52% +0.12
RSP Invesco S&P 500 Equal Weight Add +74.1% 0.15% +0.07
HYMB SS SPDR N Ice HY Muni ETF New 0.05% +0.05
XOM Exxon Mobil Corp. Add +34.6% 0.12% +0.04
MPC Marathon Petroleum Corp. New 0.02% +0.02
EIM Eaton Vance Municipal Bond New 0.02% +0.02
QDF NT Qual Div ETF New 0.02% +0.02
ABBV Abbvie Inc. Add +9.0% 0.10% +0.02
WSM Williams-Sonoma Inc. New 0.02% +0.02
WM Waste Management Inc. New 0.01% +0.01
IJK iShares S&P Mid-Cap 400 Grow New 0.01% +0.01
CL Colgate-Palmolive Co. New 0.01% +0.01
OLN Olin Corp. New 0.01% +0.01
CME Cme Group Inc. New 0.01% +0.01
NZF Nuveen Municipal Credit Inc. New 0.01% +0.01
IQI Invesco Quality Muni Inc. TR New 0.01% +0.01
ARCO Arcos Dorados Holdings Inc. Class A New 0.01% +0.01
TGT Target Corp. Add +0.4% 0.04% +0.01
UAA Under Armour Inc. Class A New 0.01% +0.01
IBM Intl Business Machines Corp. Add +12.4% 0.03% +0.00
PSX Phillips 66 Add +2.3% 0.03% +0.00
CI The Cigna Group Add +0.5% 0.03% +0.00
PYPL PayPal Holdings Inc. Add +1.3% 0.02% +0.00
PFE Pfizer Inc. Add +0.6% 0.03% −0.00
IBDP iShares Ibonds Dec 2024 Term Add +0.4% 0.05% −0.00
IBDQ iShares Ibonds Dec 2025 Term Add +0.1% 0.05% −0.00
IBDR iShares Ibonds Dec 2026 Term Add +0.4% 0.05% −0.00
XLY SS Consumer Disc Select Sect Add +1.9% 0.46% −0.01
VCIT Vanguard Int-Term Corporate Add +5.2% 9.88% −0.27
VGIT Vanguard Intermediate-Term T Add +3.9% 9.33% −0.40

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 196$1.9BFIBK, VCIT, IVV, RSP, IJH
Q1 2026 187$1.8BVCIT, FIBK, RSP, IVV, VGIT
Q4 2025 199$1.9BFIBK, VCIT, RSP, IVV, VGIT
Q3 2025 201$1.8BVCIT, FIBK, RSP, IVV, VGIT
Q2 2025 181$1.7BVCIT, FIBK, RSP, IVV, VGIT
Q1 2025 170$1.7BVCIT, FIBK, RSP, IVV, VGIT
Q4 2024 179$1.7BIVV, VCIT, FIBK, IJH, HEFA
Q3 2024 187$1.6BIVV, VCIT, FIBK, IJH, HEFA
Q2 2024 169$1.5BIVV, VCIT, FIBK, VGIT, HEFA
Q1 2024 170$1.4BIVV, VCIT, VGIT, FIBK, IJH