First Interstate Bank
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 29, 2025), First Interstate Bank reported 201 stock positions worth $1.8 billion. Its top holding was Vanguard Int-Term Corporate (VCIT) at 8.3% of the portfolio, followed by First Interstate Bancsys-A (FIBK, 8.3%) and Invesco S&P 500 Equal Weight (RSP, 7.8%). Compared with Q2 2025, it opened 23 new positions, sold out of 3, added to 53 and reduced 73. The biggest buy was a new position in Marathon Petroleum (MPC) and the biggest sale Invesco S&P 500 Equal Weight (RSP, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- Billings, MT
- CIK
- 0001125727
- Portfolio Value
- $1.8B (Q3 2025)
- SEC Filing
- 0001125727-25-000021 ↗ filed Oct 29, 2025
Holdings Value
Holdings 201 stocks · $1.8B
| VCIT Vanguard Int-Term Corporate | 8.26% | 1,779,047 | $149.6M | Add +2.0% |
| FIBK First Interstate Bancsys-A | 8.26% | 4,694,218 | $149.6M | Reduce -4.7% |
| RSP Invesco S&P 500 Equal Weight | 7.84% | 748,450 | $142.0M | Reduce -0.3% |
| IVV iShares Core S&P 500 ETF | 7.44% | 201,313 | $134.7M | Reduce -0.2% |
| VGIT Vanguard Intermediate-Term T | 5.56% | 1,677,927 | $100.7M | Add +2.1% |
| IJH iShares Core S&P Midcap ETF | 5.40% | 1,498,721 | $97.8M | Add +0.1% |
| PFF iShares Preferred & Income S | 5.01% | 2,872,073 | $90.8M | Add +0.2% |
| IJR iShares Core S&P Small-Cap E | 4.39% | 669,222 | $79.5M | Add +0.7% |
| GUNR NT Mstar GLBL NR ETF | 3.53% | 1,459,399 | $63.9M | Add +2.7% |
| VMBS Vanguard Mortgage-Backed Sec | 3.29% | 1,268,396 | $59.6M | Add +2.1% |
| PAVE Global X US Infrastructure | 3.15% | 1,197,751 | $57.0M | Add +0.3% |
| HEFA Isha Curr Hedged MSCI Eafe | 3.14% | 1,434,508 | $56.8M | Reduce -1.3% |
| IBDX iShares Ibonds Dec 2032 TC | 2.84% | 2,010,433 | $51.5M | Add +1.2% |
| IBDY iShares Ibonds Dec 2033 Corp. | 2.74% | 1,891,800 | $49.6M | Add +1.3% |
| XLK SS Technology Select Sector | 2.01% | 129,146 | $36.4M | Reduce -1.8% |
| MSFT Microsoft Corp. | 1.22% | 42,719 | $22.1M | Reduce -0.6% |
| AAPL Apple Inc. | 1.16% | 82,633 | $21.0M | Add +0.5% |
| XLC SS Comm Select Sector SPDR | 0.96% | 146,929 | $17.4M | Reduce -2.1% |
| XLV SS Health Care Select Sector | 0.92% | 119,613 | $16.6M | Reduce -1.8% |
| AMZN Amazon.com Inc. | 0.85% | 70,244 | $15.4M | Reduce -0.5% |
| GOOGL Alphabet Inc. Class A | 0.83% | 61,550 | $15.0M | Reduce -2.1% |
| XLI SS Industrial Select Sector | 0.83% | 96,900 | $14.9M | Add +14.3% |
| XLF SS Financial Select Sector | 0.74% | 248,735 | $13.4M | Reduce -1.4% |
| XLE SS Energy Select Sector | 0.70% | 142,188 | $12.7M | Reduce -1.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.65% | 23,389 | $11.8M | Add +19.5% |
| PANW Palo Alto Networks Inc. | 0.56% | 49,974 | $10.2M | Reduce -1.6% |
| JPM JPMorgan Chase & Co. | 0.55% | 31,660 | $10.0M | Reduce -1.8% |
| CSCO Cisco Systems Inc. | 0.53% | 140,786 | $9.6M | Reduce -1.1% |
| WMT Walmart Inc. | 0.53% | 92,462 | $9.5M | Reduce -1.5% |
| XSD SS SPDR S&P Semiconductor | 0.51% | 28,784 | $9.2M | Reduce -1.3% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.44% | 91,667 | $8.0M | Reduce -1.6% |
| AXP American Express Co. | 0.41% | 22,590 | $7.5M | Reduce -2.5% |
| XLRE SS Real Estate Select Sector | 0.40% | 173,980 | $7.3M | Reduce -1.7% |
| MCD McDonald's Corp. | 0.40% | 23,638 | $7.2M | Reduce -2.1% |
| SOXX iShares Semiconductor ETF | 0.38% | 25,389 | $6.9M | Reduce -1.2% |
| XLP SS Consumer Staples Sel Sect | 0.38% | 87,023 | $6.8M | Reduce -2.1% |
| XLY SS Consumer Disc Select Sect | 0.37% | 27,833 | $6.7M | Reduce -2.1% |
| COST Costco Wholesale Corp. | 0.35% | 6,862 | $6.4M | Add +0.0% |
| NVDA Nvidia Corp. | 0.35% | 33,639 | $6.3M | Reduce -7.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.35% | 54,717 | $6.3M | Add +0.1% |
| XLB SS Materials Select Sector | 0.34% | 69,483 | $6.2M | Reduce -1.3% |
| ABT Abbott Laboratories | 0.34% | 45,959 | $6.2M | Add +84.9% |
| BX Blackstone Inc. | 0.33% | 34,832 | $6.0M | Reduce -1.1% |
| IEF iShares 7-10 Year Treasury B | 0.32% | 60,603 | $5.8M | Add +10.2% |
| LOW Lowe's Cos Inc. | 0.31% | 22,484 | $5.7M | Reduce -36.7% |
| GSEW Goldman Sachs Eql WGHT Large | 0.30% | 64,660 | $5.5M | Reduce -2.7% |
| HON Honeywell International Inc. | 0.30% | 25,751 | $5.4M | Reduce -0.7% |
| META Meta Platforms Inc. Class A | 0.30% | 7,297 | $5.4M | Add +1.4% |
| IBB iShares Biotechnology ETF | 0.28% | 35,383 | $5.1M | Reduce -2.7% |
| MPC Marathon Petroleum Corp. | 0.28% | 26,200 | $5.0M | New |
| C Citigroup Inc. | 0.27% | 47,309 | $4.8M | Reduce -1.6% |
| KRE SS SPDR S&P Regional Bank | 0.26% | 75,529 | $4.8M | Reduce -3.3% |
| UNP Union Pacific Corp. | 0.26% | 19,635 | $4.6M | Add +9.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.24% | 6,432 | $4.3M | Add +1.3% |
| PFE Pfizer Inc. | 0.23% | 165,491 | $4.2M | Add +16.3% |
| MDLZ Mondelez International Inc. Class A | 0.22% | 63,750 | $4.0M | Reduce -1.5% |
| VOO Vanguard S&P 500 ETF | 0.21% | 6,358 | $3.9M | Add +0.3% |
| UNH Unitedhealth Group Inc. | 0.21% | 11,013 | $3.8M | Reduce -0.4% |
| HD Home Depot Inc. | 0.20% | 9,115 | $3.7M | Add +1.1% |
| CRM Salesforce Inc. | 0.20% | 15,301 | $3.6M | Reduce -2.5% |
| ORCL Oracle Corp. | 0.19% | 12,190 | $3.4M | Reduce -1.1% |
| AVGO Broadcom Inc. | 0.19% | 10,327 | $3.4M | No change |
| KKR KKR & Co. Inc. | 0.18% | 24,723 | $3.2M | Add +5.6% |
| EMR Emerson Electric Co. | 0.17% | 23,417 | $3.1M | Reduce -1.0% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.17% | 4 | $3.0M | No change |
| AGG iShares Core U.S. Aggregate | 0.16% | 28,403 | $2.8M | Reduce -0.6% |
| BMY Bristol-Myers Squibb Co. | 0.15% | 60,798 | $2.7M | Add +16.3% |
| AEM Agnico Eagle Mines Ltd. | 0.13% | 14,279 | $2.4M | No change |
| EEM iShares MSCI Emerging Market | 0.13% | 43,422 | $2.3M | No change |
| PFFD Global X US Preferred ETF | 0.13% | 119,018 | $2.3M | Reduce -2.2% |
| EFA iShares MSCI Eafe ETF | 0.12% | 22,561 | $2.1M | Reduce -37.0% |
| ITOT iShares Core S&P Total U.S. | 0.11% | 14,208 | $2.1M | Reduce -4.7% |
| XOM Exxon Mobil Corp. | 0.11% | 17,428 | $2.0M | Add +46.6% |
| PSX Phillips 66 | 0.10% | 13,938 | $1.9M | Add +619.2% |
| ABBV Abbvie Inc. | 0.10% | 7,945 | $1.8M | Add +9.8% |
| JNJ Johnson & Johnson | 0.10% | 9,726 | $1.8M | Add +5.1% |
| GOOG Alphabet Inc. Class C | 0.10% | 7,254 | $1.8M | No change |
| BSV Vanguard Short-Term Bond ETF | 0.10% | 22,298 | $1.8M | Add +1.4% |
| VEU Vanguard Ftse All-World Ex-U | 0.08% | 21,512 | $1.5M | Add +330.2% |
| MRK Merck & Co. Inc. | 0.08% | 17,882 | $1.5M | Add +62.8% |
| CAT Caterpillar Inc. | 0.08% | 3,060 | $1.5M | Add +218.8% |
| T AT&T Inc. | 0.08% | 51,538 | $1.5M | Add +70.5% |
| TMO Thermo Fisher Scientific Inc. | 0.08% | 2,855 | $1.4M | Reduce -1.5% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.07% | 4,786 | $1.2M | Add +81.2% |
| PEP Pepsico Inc. | 0.07% | 8,571 | $1.2M | Reduce -63.9% |
| APH Amphenol Corp. Class A | 0.07% | 9,600 | $1.2M | No change |
| PG The Procter & Gamble Co. | 0.07% | 7,665 | $1.2M | Add +6.3% |
| KO The Coca-Cola Co. | 0.06% | 17,646 | $1.2M | Add +67.2% |
| JCI Johnson Controls Internation | 0.06% | 10,500 | $1.2M | New |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.06% | 13,614 | $1.1M | No change |
| WFC Wells Fargo & Co. | 0.06% | 12,862 | $1.1M | Add +271.5% |
| GE General Electric filed as GE AEROSPACE | 0.06% | 3,565 | $1.1M | Add +337.4% |
| FISV Fiserv Inc. | 0.06% | 8,304 | $1.1M | Reduce -1.6% |
| GS Goldman Sachs Group Inc. | 0.06% | 1,343 | $1.1M | Add +8.7% |
| V Visa Inc. Class A | 0.06% | 3,121 | $1.1M | Reduce -5.3% |
| ADP Automatic Data Processing | 0.06% | 3,548 | $1.0M | Add +2.6% |
| VWO Vanguard Ftse Emerging Marke | 0.06% | 19,212 | $1.0M | Reduce -3.5% |
| DE Deere & Co. | 0.05% | 2,164 | $990K | Add +10.0% |
| BDX Becton Dickinson and Co. | 0.05% | 5,237 | $980K | Add +323.4% |
| IWV iShares Russell 3000 ETF | 0.05% | 2,560 | $970K | No change |
Portfolio Sells Q2 2025 → Q3 2025
| RSP Invesco S&P 500 Equal Weight | Reduce -0.3% | 7.84% | −0.18 |
| LOW Lowe's Cos Inc. | Reduce -36.7% | 0.31% | −0.15 |
| MAS Masco Corp. | Sold out | 0.00% | −0.14 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -79.5% | 0.04% | −0.14 |
| PEP Pepsico Inc. | Reduce -63.9% | 0.07% | −0.12 |
| HEFA Isha Curr Hedged MSCI Eafe | Reduce -1.3% | 3.14% | −0.10 |
| FIBK First Interstate Bancsys-A | Reduce -4.7% | 8.26% | −0.08 |
| EFA iShares MSCI Eafe ETF | Reduce -37.0% | 0.12% | −0.07 |
| AMZN Amazon.com Inc. | Reduce -0.5% | 0.85% | −0.06 |
| HON Honeywell International Inc. | Reduce -0.7% | 0.30% | −0.06 |
| CRM Salesforce Inc. | Reduce -2.5% | 0.20% | −0.05 |
| PANW Palo Alto Networks Inc. | Reduce -1.6% | 0.56% | −0.05 |
| CSCO Cisco Systems Inc. | Reduce -1.1% | 0.53% | −0.05 |
| XLP SS Consumer Staples Sel Sect | Reduce -2.1% | 0.38% | −0.05 |
| XLV SS Health Care Select Sector | Reduce -1.8% | 0.92% | −0.05 |
| SCHO Schwab Short-Term US Treas | Reduce -52.1% | 0.03% | −0.04 |
| MDLZ Mondelez International Inc. Class A | Reduce -1.5% | 0.22% | −0.04 |
| XLF SS Financial Select Sector | Reduce -1.4% | 0.74% | −0.04 |
| MSFT Microsoft Corp. | Reduce -0.6% | 1.22% | −0.03 |
| IWM iShares Russell 2000 ETF | Reduce -69.4% | 0.02% | −0.03 |
| FISV Fiserv Inc. | Reduce -1.6% | 0.06% | −0.03 |
| XLRE SS Real Estate Select Sector | Reduce -1.7% | 0.40% | −0.03 |
| AXP American Express Co. | Reduce -2.5% | 0.41% | −0.02 |
| XLB SS Materials Select Sector | Reduce -1.3% | 0.34% | −0.02 |
| ICE Intercontinental Exchange Inc. | Reduce -33.0% | 0.02% | −0.02 |
| MCD McDonald's Corp. | Reduce -2.1% | 0.40% | −0.02 |
| XLE SS Energy Select Sector | Reduce -1.3% | 0.70% | −0.02 |
| EMR Emerson Electric Co. | Reduce -1.0% | 0.17% | −0.02 |
| GSEW Goldman Sachs Eql WGHT Large | Reduce -2.7% | 0.30% | −0.01 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -24.0% | 0.04% | −0.01 |
| WMT Walmart Inc. | Reduce -1.5% | 0.53% | −0.01 |
| EMB iShares JP Morgan Usd Emergi | Sold out | 0.00% | −0.01 |
| EOG EOG Resources Inc. | Sold out | 0.00% | −0.01 |
| V Visa Inc. Class A | Reduce -5.3% | 0.06% | −0.01 |
| AGG iShares Core U.S. Aggregate | Reduce -0.6% | 0.16% | −0.01 |
| KRE SS SPDR S&P Regional Bank | Reduce -3.3% | 0.26% | −0.01 |
| PFFD Global X US Preferred ETF | Reduce -2.2% | 0.13% | −0.01 |
| TLT iShares 20+ Year Treasury BD | Reduce -13.2% | 0.03% | −0.01 |
| QCOM Qualcomm Inc. | Reduce -9.8% | 0.04% | −0.01 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -1.6% | 0.44% | −0.01 |
| IEUR iShares Core MSCI Europe ETF | Reduce -15.8% | 0.02% | −0.01 |
| NKE Nike Inc. Class B | Reduce -9.3% | 0.03% | −0.01 |
| RSG Republic Services Inc. | Reduce -1.5% | 0.03% | −0.00 |
| CTRA Coterra Energy Inc. | Reduce -16.8% | 0.01% | −0.00 |
| ITOT iShares Core S&P Total U.S. | Reduce -4.7% | 0.11% | −0.00 |
| SPGI S&P Global Inc. | Reduce -0.5% | 0.03% | −0.00 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -19.7% | 0.02% | −0.00 |
| KMI Kinder Morgan Inc. | Reduce -16.7% | 0.01% | −0.00 |
| SHW The Sherwin-Williams Co. | Reduce -6.9% | 0.03% | −0.00 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -18.1% | 0.02% | −0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| MPC Marathon Petroleum Corp. | New | 0.28% | +0.28 |
| GUNR NT Mstar GLBL NR ETF | Add +2.7% | 3.53% | +0.18 |
| AAPL Apple Inc. | Add +0.5% | 1.16% | +0.17 |
| ABT Abbott Laboratories | Add +84.9% | 0.34% | +0.14 |
| IJR iShares Core S&P Small-Cap E | Add +0.7% | 4.39% | +0.12 |
| PAVE Global X US Infrastructure | Add +0.3% | 3.15% | +0.09 |
| PSX Phillips 66 | Add +619.2% | 0.10% | +0.09 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +19.5% | 0.65% | +0.09 |
| XLI SS Industrial Select Sector | Add +14.3% | 0.83% | +0.09 |
| VEU Vanguard Ftse All-World Ex-U | Add +330.2% | 0.08% | +0.07 |
| JCI Johnson Controls Internation | New | 0.06% | +0.06 |
| CAT Caterpillar Inc. | Add +218.8% | 0.08% | +0.06 |
| BAC Bank of America Corp. | New | 0.05% | +0.05 |
| GE General Electric | Add +337.4% | 0.06% | +0.05 |
| FHN First Horizon Corp. | New | 0.04% | +0.04 |
| TRP TC Energy Corp. | New | 0.04% | +0.04 |
| MPLX MPLX LP | New | 0.04% | +0.04 |
| COP Conocophillips | New | 0.04% | +0.04 |
| WFC Wells Fargo & Co. | Add +271.5% | 0.06% | +0.04 |
| BDX Becton Dickinson and Co. | Add +323.4% | 0.05% | +0.04 |
| XOM Exxon Mobil Corp. | Add +46.6% | 0.11% | +0.03 |
| MRK Merck & Co. Inc. | Add +62.8% | 0.08% | +0.03 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +81.2% | 0.07% | +0.03 |
| PFE Pfizer Inc. | Add +16.3% | 0.23% | +0.03 |
| T AT&T Inc. | Add +70.5% | 0.08% | +0.03 |
| GEV GE Vernova Inc. | New | 0.03% | +0.03 |
| DINO HF Sinclair Corp. | New | 0.03% | +0.03 |
| EPD Enterprise Products Partners | New | 0.03% | +0.03 |
| TTE Totalenergies SE -Spon ADR | New | 0.02% | +0.02 |
| ABBV Abbvie Inc. | Add +9.8% | 0.10% | +0.02 |
| KO The Coca-Cola Co. | Add +67.2% | 0.06% | +0.02 |
| BP BP PLC-Spons ADR | New | 0.02% | +0.02 |
| VZ Verizon Communications Inc. | New | 0.02% | +0.02 |
| MS Morgan Stanley | Add +61.0% | 0.04% | +0.02 |
| JNJ Johnson & Johnson | Add +5.1% | 0.10% | +0.02 |
| PAAS Pan American Silver Corp. | New | 0.01% | +0.01 |
| IEF iShares 7-10 Year Treasury B | Add +10.2% | 0.32% | +0.01 |
| STX Seagate Technology Holdings | New | 0.01% | +0.01 |
| UNP Union Pacific Corp. | Add +9.0% | 0.26% | +0.01 |
| ETN Eaton Corp. PLC | New | 0.01% | +0.01 |
| IDXX Idexx Laboratories Inc. | New | 0.01% | +0.01 |
| FFIC Flushing Financial Corp. | New | 0.01% | +0.01 |
| IAU iShares Gold Trust | New | 0.01% | +0.01 |
| NOK Nokia Corp.-Spon ADR | New | 0.01% | +0.01 |
| VLO Valero Energy Corp. | New | 0.01% | +0.01 |
| MDY State Street SPDR S&P Midcap | New | 0.01% | +0.01 |
| DHI D.R. Horton Inc. | New | 0.01% | +0.01 |
| HD Home Depot Inc. | Add +1.1% | 0.20% | +0.01 |
| INTC Intel Corp. | Add +1.7% | 0.03% | +0.01 |
| BMY Bristol-Myers Squibb Co. | Add +16.3% | 0.15% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 196 | $1.9B | FIBK, VCIT, IVV, RSP, IJH |
| Q1 2026 | 187 | $1.8B | VCIT, FIBK, RSP, IVV, VGIT |
| Q4 2025 | 199 | $1.9B | FIBK, VCIT, RSP, IVV, VGIT |
| Q3 2025 | 201 | $1.8B | VCIT, FIBK, RSP, IVV, VGIT |
| Q2 2025 | 181 | $1.7B | VCIT, FIBK, RSP, IVV, VGIT |
| Q1 2025 | 170 | $1.7B | VCIT, FIBK, RSP, IVV, VGIT |
| Q4 2024 | 179 | $1.7B | IVV, VCIT, FIBK, IJH, HEFA |
| Q3 2024 | 187 | $1.6B | IVV, VCIT, FIBK, IJH, HEFA |
| Q2 2024 | 169 | $1.5B | IVV, VCIT, FIBK, VGIT, HEFA |
| Q1 2024 | 170 | $1.4B | IVV, VCIT, VGIT, FIBK, IJH |