# First Interstate Bank

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1125727. Source: https://holderbook.com/funds/1125727-first-interstate-bank/

- Reported value: $1.9B
- Positions: 196
- Weight of the ten largest: 64.9%
- Filed: 2026-07-24

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| FIRST INTST BANCSYSTEM INC | [FIBK](https://holderbook.com/stocks/FIBK/) | $177.9M | 4,614,432 | 9.3% | 30 |
| VANGUARD SCOTTSDALE FDS | [VCIT](https://holderbook.com/stocks/VCIT/) | $177.5M | 2,148,198 | 9.3% | 24 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $159.8M | 213,448 | 8.3% | 30 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $155.5M | 730,736 | 8.1% | 12 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $120.6M | 1,563,909 | 6.3% | 30 |
| VANGUARD SCOTTSDALE FDS | [VGIT](https://holderbook.com/stocks/VGIT/) | $113.7M | 1,927,652 | 5.9% | 17 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $97.4M | 657,052 | 5.1% | 30 |
| ISHARES TR | [PFF](https://holderbook.com/stocks/PFF/) | $93.1M | 3,052,764 | 4.9% | 24 |
| VANGUARD MALVERN FDS | [VTIP](https://holderbook.com/stocks/VTIP/) | $78.8M | 1,568,915 | 4.1% | 3 |
| VANGUARD SCOTTSDALE FDS | [VMBS](https://holderbook.com/stocks/VMBS/) | $68.7M | 1,467,793 | 3.6% | 10 |
| FLEXSHARES TR | [GUNR](https://holderbook.com/stocks/GUNR/) | $62.7M | 1,272,602 | 3.3% | 7 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $47.4M | 248,803 | 2.5% | 30 |
| GLOBAL X FDS | [PAVE](https://holderbook.com/stocks/PAVE/) | $44.5M | 755,645 | 2.3% | 10 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $22.1M | 76,399 | 1.2% | 30 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $21.1M | 59,031 | 1.1% | 30 |
| SELECT SECTOR SPDR TR | [XLI](https://holderbook.com/stocks/XLI/) | $19.8M | 107,075 | 1.0% | 30 |
| SELECT SECTOR SPDR TR | [XLV](https://holderbook.com/stocks/XLV/) | $17.9M | 112,753 | 0.9% | 30 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $16.4M | 68,632 | 0.9% | 30 |
| SELECT SECTOR SPDR TR | [XLC](https://holderbook.com/stocks/XLC/) | $15.8M | 147,712 | 0.8% | 30 |
| SPDR SERIES TRUST | [XSD](https://holderbook.com/stocks/XSD/) | $15.7M | 25,137 | 0.8% | 21 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $15.6M | 45,696 | 0.8% | 23 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $15.5M | 41,559 | 0.8% | 30 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $14.9M | 126,563 | 0.8% | 30 |
| SELECT SECTOR SPDR TR | [XLF](https://holderbook.com/stocks/XLF/) | $13.2M | 246,550 | 0.7% | 30 |
| SELECT SECTOR SPDR TR | [XLE](https://holderbook.com/stocks/XLE/) | $10.9M | 206,153 | 0.6% | 30 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $10.9M | 21,694 | 0.6% | 30 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $9.8M | 29,970 | 0.5% | 30 |
| ISHARES TR | [IBB](https://holderbook.com/stocks/IBB/) | $7.7M | 40,526 | 0.4% | 18 |
| SELECT SECTOR SPDR TR | [XLU](https://holderbook.com/stocks/XLU/) | $7.7M | 169,858 | 0.4% | 30 |
| CAPITAL GRP FIXED INCM ETF T | [CGHM](https://holderbook.com/stocks/CGHM/) | $7.5M | 290,676 | 0.4% | 3 |
| SELECT SECTOR SPDR TR | [XLRE](https://holderbook.com/stocks/XLRE/) | $7.0M | 159,445 | 0.4% | 30 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $7.0M | 20,721 | 0.4% | 30 |
| SELECT SECTOR SPDR TR | [XLB](https://holderbook.com/stocks/XLB/) | $6.8M | 133,863 | 0.4% | 30 |
| SELECT SECTOR SPDR TR | [XLY](https://holderbook.com/stocks/XLY/) | $6.7M | 57,152 | 0.3% | 30 |
| SELECT SECTOR SPDR TR | [XLP](https://holderbook.com/stocks/XLP/) | $6.4M | 77,282 | 0.3% | 30 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $6.4M | 31,915 | 0.3% | 17 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $6.2M | 54,897 | 0.3% | 30 |
| ISHARES TR | [HEFA](https://holderbook.com/stocks/HEFA/) | $6.1M | 130,124 | 0.3% | 16 |
| GLOBAL X FDS | [PFFD](https://holderbook.com/stocks/PFFD/) | $6.0M | 321,320 | 0.3% | 5 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $6.0M | 6,399 | 0.3% | 30 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $6.0M | 22,086 | 0.3% | 30 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $6.0M | 42,574 | 0.3% | 21 |
| INVESCO EXCHANGE TRADED FD T | [PSP](https://holderbook.com/stocks/PSP/) | $5.8M | 104,099 | 0.3% | 1 |
| GLOBAL X FDS | [BUG](https://holderbook.com/stocks/BUG/) | $5.7M | 150,305 | 0.3% | 2 |
| ISHARES TR | [IEF](https://holderbook.com/stocks/IEF/) | $5.5M | 57,684 | 0.3% | 5 |
| SPDR SERIES TRUST | [KRE](https://holderbook.com/stocks/KRE/) | $5.3M | 70,749 | 0.3% | 7 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $5.2M | 6,989 | 0.3% | 30 |
| GOLDMAN SACHS ETF TR | [GSEW](https://holderbook.com/stocks/GSEW/) | $5.2M | 54,987 | 0.3% | 5 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $5.0M | 52,317 | 0.3% | 30 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $4.8M | 17,579 | 0.2% | 30 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $4.6M | 20,872 | 0.2% | 30 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $4.3M | 7,655 | 0.2% | 30 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $4.2M | 39,997 | 0.2% | 30 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $3.9M | 5,689 | 0.2% | 25 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $3.9M | 10,266 | 0.2% | 8 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $3.8M | 24,417 | 0.2% | 21 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $3.6M | 39,850 | 0.2% | 30 |
| ISHARES TR | [EEM](https://holderbook.com/stocks/EEM/) | $3.5M | 50,954 | 0.2% | 30 |
| COLUMBIA ETF TR I | [REVS](https://holderbook.com/stocks/REVS/) | $3.5M | 109,803 | 0.2% | 2 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $3.3M | 9,331 | 0.2% | 30 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $3.1M | 31,467 | 0.2% | 30 |
| ISHARES TR | [IBDY](https://holderbook.com/stocks/IBDY/) | $3.1M | 119,680 | 0.2% | 11 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $3.1M | 127,285 | 0.2% | 30 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $3.0M | 20,887 | 0.2% | 30 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $2.9M | 2,716 | 0.2% | 12 |
| SPDR SERIES TRUST | [HYMB](https://holderbook.com/stocks/HYMB/) | $2.7M | 106,385 | 0.1% | 10 |
| ISHARES TR | [IHI](https://holderbook.com/stocks/IHI/) | $2.5M | 50,622 | 0.1% | 3 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $2.3M | 9,051 | 0.1% | 30 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $2.2M | 3 | 0.1% | 30 |
| AGNICO EAGLE MINES LTD | [AEM](https://holderbook.com/stocks/AEM/) | $2.2M | 14,279 | 0.1% | 30 |
| INVESCO EXCH TRADED FD TR II | [BKLN](https://holderbook.com/stocks/BKLN/) | $2.2M | 106,982 | 0.1% | 3 |
| VANGUARD BD INDEX FDS | [BSV](https://holderbook.com/stocks/BSV/) | $2.1M | 26,743 | 0.1% | 17 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $2.1M | 14,824 | 0.1% | 30 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $2.1M | 15,130 | 0.1% | 30 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $2.0M | 15,822 | 0.1% | 30 |
| MARATHON PETE CORP | [MPC](https://holderbook.com/stocks/MPC/) | $2.0M | 7,949 | 0.1% | 4 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $2.0M | 5,539 | 0.1% | 30 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $1.9M | 13,132 | 0.1% | 20 |
| PHILLIPS 66 | [PSX](https://holderbook.com/stocks/PSX/) | $1.8M | 10,477 | 0.1% | 16 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $1.7M | 9,600 | 0.1% | 8 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $1.7M | 20,567 | 0.1% | 17 |
| ISHARES TR | [ITOT](https://holderbook.com/stocks/ITOT/) | $1.7M | 10,168 | 0.1% | 5 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $1.6M | 5,388 | 0.1% | 17 |
| ISHARES TR | [HYG](https://holderbook.com/stocks/HYG/) | $1.6M | 20,327 | 0.1% | 23 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $1.6M | 18,780 | 0.1% | 17 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $1.5M | 5,964 | 0.1% | 30 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $1.4M | 2,282 | 0.1% | 18 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $1.4M | 8,238 | 0.1% | 30 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $1.4M | 2,716 | 0.1% | 30 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $1.3M | 1,321 | 0.1% | 30 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $1.3M | 21,516 | 0.1% | 17 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $1.3M | 3,384 | 0.1% | 5 |
| JOHNSON CONTROLS INTERNATION | [JCI](https://holderbook.com/stocks/JCI/) | $1.2M | 8,490 | 0.1% | 4 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $1.1M | 4,833 | 0.1% | 17 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $1.1M | 7,379 | 0.1% | 30 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $1.1M | 13,084 | 0.1% | 8 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $1.0M | 18,400 | 0.1% | 4 |
| VANGUARD INTL EQUITY INDEX F | [VT](https://holderbook.com/stocks/VT/) | $1.0M | 6,650 | 0.1% | 17 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $986.9K | 840 | 0.1% | 4 |
| TC ENERGY CORP | [TRP](https://holderbook.com/stocks/TRP/) | $974.5K | 14,700 | 0.1% | 4 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +8.8% | +14.8% | -6.0% | 100% |
| Q1 2026 | -0.3% | -4.6% | +4.3% | 100% |
| Q4 2025 | +1.8% | +2.4% | -0.6% | 100% |
| Q3 2025 | +5.5% | +7.8% | -2.3% | 100% |
| Q2 2025 | +4.5% | +10.5% | -5.9% | 100% |
| Q1 2025 | -2.7% | -4.6% | +1.9% | 100% |
| Q4 2024 | -0.4% | +2.1% | -2.6% | 100% |
| Q3 2024 | +5.6% | +5.4% | +0.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.9B | 196 |
| Q1 2026 | $1.8B | 187 |
| Q4 2025 | $1.9B | 199 |
| Q3 2025 | $1.8B | 201 |
| Q2 2025 | $1.7B | 181 |
| Q1 2025 | $1.7B | 170 |
| Q4 2024 | $1.7B | 179 |
| Q3 2024 | $1.6B | 187 |
| Q2 2024 | $1.5B | 169 |
| Q1 2024 | $1.4B | 170 |
| Q4 2023 | $1.3B | 159 |
| Q3 2023 | $1.2B | 168 |