First Interstate Bank

CIK

1125727

Location

Billings, MT

Portfolio Value

Mid $1,635,096,363

Diversification

Moderately concentrated

Filing Date

Global Rank

#1,670 / 8,816 ▼ 97 · as of Jun 2026

Top Industry

Banks - Regional 36.6%

Period ended 26 days ago

Filed Oct 23, 2026 · 3d

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.

Style

Concentrated

The top 10 positions are 83.5% of the book (60%+)

Turnover

Low turnover

12.8% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 20.6 quarters (12+), a floor since 50.1% of the book was already held when coverage starts

Closest benchmark: every 13F filer's combined book, active share 80.3%; sector active share 63.8% against the combined 13F book's sector weights.

Over time 25 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

197 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026

Top Position

30.5%

+3.1 pts

Top 5

74.8%

+2.7 pts

Top 10

84.4%

+0.9 pts

HHI

1,598

Moderately concentrated+215

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	72.4%	$1,184,063,016	83
Financial Services	12.6%	$205,496,019	20
Technology	6.6%	$107,962,032	21
Communication Services	2.2%	$36,351,255	5
Consumer Cyclical	1.8%	$28,866,073	8
Healthcare	1.2%	$19,380,438	14
Industrials	1.2%	$19,253,778	18
Consumer Defensive	1.0%	$16,194,519	9
Energy	0.8%	$12,776,579	13
Basic Materials	0.3%	$4,752,654	6

Last Quarter's Activity

Export CSV

Sep 30, 2026 vs Jun 30, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
SUB	iShares Short-Term National Muni Bond ETF	+125,316	127,211	$13,298,637
PFF	iShares Preferred and Income Securities ETF	+43,898	3,096,662	$91,351,529
XLI	State Street(R) Industrial Select Sector SPDR(R) ETF	+34,750	141,825	$23,681,938
CGHM	Capital Group Municipal High-Income ETF	+30,477	321,153	$7,730,152
VMBS	VANGUARD MORTGAGE-BACKED SECURITIES INDEX FUND	+15,573	1,483,366	$65,876,283
APH	Amphenol Corp	+9,600	19,200	$1,618,560
XLC	State Street(R) Communication Services Select Sector SPDR(R) ETF	+9,413	157,125	$17,436,160
AAPL	Apple Inc.	+8,495	84,894	$28,271,399
VCIT	VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND	+6,903	2,155,101	$168,765,958
META	Meta Platforms, Inc.	+4,718	12,373	$8,972,651
HYMB	State Street(R) SPDR Nuveen ICE High Yield Municipal Bond ETF	+4,671	111,056	$2,606,484
IEF	iShares 7-10 Year Treasury Bond ETF	+4,408	62,092	$5,545,436
IBDT	iShares iBonds Dec 2028 Term Corporate ETF	+2,800	25,740	$642,470
AVGO	Broadcom Inc.	+2,241	12,507	$4,392,332
IBDU	iShares iBonds Dec 2029 Term Corporate ETF	+2,221	39,153	$888,381
HYG	iShares iBoxx $ High Yield Corporate Bond ETF	+2,081	22,408	$1,730,121
XLK	State Street(R) Technology Select Sector SPDR(R) ETF	+2,068	250,871	$49,107,998
IBDS	iShares iBonds Dec 2027 Term Corporate ETF	+1,200	36,411	$878,233
IBDW	iShares iBonds Dec 2031 Term Corporate ETF	+835	18,519	$371,491
SPYV	State Street(R) SPDR(R) Portfolio S&P 500(R) Value ETF	+813	5,282	$322,888
IBDV	iShares iBonds Dec 2030 Term Corporate ETF	+774	36,803	$778,015
VEA	Vanguard FTSE Developed Markets ETF	+540	8,869	$626,239
MSFT	Microsoft Corp	+466	42,025	$21,554,622
BSV	VANGUARD SHORT-TERM BOND INDEX FUND	+414	27,157	$2,074,794
INTC	Intel Corp	+155	14,979	$1,800,925
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
IBDY	iShares iBonds Dec 2033 Term Corporate ETF	−76,049	43,631	$1,068,086
PFFD	Global X U.S. Preferred ETF	−50,150	271,170	$0
GUNR	FlexShares Morningstar Global Upstream Natural Resources Index Fund	−41,089	1,231,513	$64,949,995
FIBK	First Interstate Bancsystem Inc	−23,328	4,591,104	$164,086,056
IJH	iShares Core S&P Mid-Cap ETF	−22,084	1,541,825	$110,934,307
PAVE	Global X U.S. Infrastructure Development ETF	−16,272	739,373	$0
HEFA	iShares Currency Hedged MSCI EAFE ETF	−15,979	114,145	$5,295,186
RSP	Victory Portfolios II	−12,806	717,930	$0
VTIP	VANGUARD SHORT-TERM INFLATION-PROTECTED SECURITIES INDEX FUND	−12,230	1,556,685	$76,620,035
IJR	iShares Core S&P Small-Cap ETF	−11,615	645,437	$87,805,249
IBDX	iShares iBonds Dec 2032 Term Corporate ETF	−8,507	26,476	$637,277
PFE	Pfizer Inc	−6,669	120,616	$3,439,967
XLF	State Street Corp	−6,609	239,941	$0
XLRE	State Street(R) Real Estate Select Sector SPDR(R) ETF	−6,549	152,896	$6,254,975
XLE	State Street(R) Energy Select Sector SPDR(R) ETF	−6,370	199,783	$12,286,654
BUG	Global X Cybersecurity ETF	−5,618	144,687	$0
XLU	State Street(R) Utilities Select Sector SPDR(R) ETF	−5,023	164,835	$6,501,091
—		−4,440	129,423	$0
IVV	iShares Core S&P 500 ETF	−4,383	209,065	$160,112,429
XLV	State Street(R) Health Care Select Sector SPDR(R) ETF	−4,376	108,377	$18,252,853
PSP	Victory Portfolios II	−4,138	99,961	$0
CSCO	Cisco Systems, Inc.	−3,590	122,973	$13,235,583
KRE	State Street(R) SPDR(R) S&P(R) Regional Banking ETF	−3,099	67,650	$4,697,615
PANW	Palo Alto Networks Inc	−2,734	42,962	$17,069,231
VGIT	VANGUARD INTERMEDIATE-TERM TREASURY INDEX FUND	−2,500	1,925,152	$109,079,111
No positions match the current search.

New Positions

Positions the filer opened this quarter

6 positions

Ticker	Company	Shares	Value
VGSH	VANGUARD SHORT-TERM TREASURY INDEX FUND	11,140	$641,217
VTES	VANGUARD SHORT-TERM TAX-EXEMPT BOND ETF	4,090	$403,274
SHV	iShares 0-1 Year Treasury Bond ETF	2,881	$317,831
FLOT	iShares Floating Rate Bond ETF	6,191	$316,050
VLO	Valero Energy Corp	575	$222,875
IDOG	ALPS International Sector Dividend Dogs ETF	4,827	$203,120
No positions match the current search.

Sold Out

Positions the filer fully exited

5 positions

Ticker	Company	Shares	Value
XOM	ExxonMobil Holdings Corp	15,130	$2,068,573
BX	Blackstone Inc.	1,941	$228,397
AMX	America Movil Sab De CV	8,783	$228,270
JMUB	JPMorgan Municipal ETF	4,015	$203,379
IJS	iShares S&P Small-Cap 600 Value ETF	1,476	$201,739
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

197 tracked positions · $1,635,096,363 total · filing declares 302 positions · $1,876,554,127 · as of Sep 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Technology

Showing 1–50 of 197 positions by value · page 1 of 4

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
VCIT	VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND	Added	2,155,101	+6,903	$168,765,958	−4.9%	10.32%
FIBK	First Interstate Bancsystem Inc Financial Services	Reduced	4,591,104	-23,328	$164,086,056	−7.8%	10.04%
IVV	iShares Core S&P 500 ETF	Reduced	209,065	-4,383	$160,112,429	+0.2%	9.79%
IJH	iShares Core S&P Mid-Cap ETF	Reduced	1,541,825	-22,084	$110,934,307	−8.0%	6.78%
VGIT	VANGUARD INTERMEDIATE-TERM TREASURY INDEX FUND	Reduced	1,925,152	-2,500	$109,079,111	−4.1%	6.67%
PFF	iShares Preferred and Income Securities ETF	Added	3,096,662	+43,898	$91,351,529	−1.9%	5.59%
IJR	iShares Core S&P Small-Cap ETF	Reduced	645,437	-11,615	$87,805,249	−9.9%	5.37%
VTIP	VANGUARD SHORT-TERM INFLATION-PROTECTED SECURITIES INDEX FUND	Reduced	1,556,685	-12,230	$76,620,035	−2.8%	4.69%
VMBS	VANGUARD MORTGAGE-BACKED SECURITIES INDEX FUND	Added	1,483,366	+15,573	$65,876,283	−4.1%	4.03%
GUNR	FlexShares Morningstar Global Upstream Natural Resources Index Fund	Reduced	1,231,513	-41,089	$64,949,995	+3.6%	3.97%
XLK	State Street(R) Technology Select Sector SPDR(R) ETF	Added	250,871	+2,068	$49,107,998	+3.6%	3.00%
AAPL	Apple Inc. Technology	Added	84,894	+8,495	$28,271,399	+27.9%	1.73%
XLI	State Street(R) Industrial Select Sector SPDR(R) ETF	Added	141,825	+34,750	$23,681,938	+19.4%	1.45%
MSFT	Microsoft Corp Technology	Added	42,025	+466	$21,554,622	+39.0%	1.32%
GOOGL	Alphabet Inc. Communication Services	Reduced	56,896	-2,135	$19,576,775	−7.2%	1.20%
XLV	State Street(R) Health Care Select Sector SPDR(R) ETF	Reduced	108,377	-4,376	$18,252,853	+2.0%	1.12%
XLC	State Street(R) Communication Services Select Sector SPDR(R) ETF	Added	157,125	+9,413	$17,436,160	+10.2%	1.07%
PANW	Palo Alto Networks Inc Technology	Reduced	42,962	-2,734	$17,069,231	+9.5%	1.04%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	66,744	-1,888	$16,629,267	+1.7%	1.02%
SUB	iShares Short-Term National Muni Bond ETF	Added	127,211	+125,316	$13,298,637	+6491.3%	0.81%
CSCO	Cisco Systems, Inc. Technology	Reduced	122,973	-3,590	$13,235,583	−11.0%	0.81%
XSD	State Street(R) SPDR(R) S&P(R) Semiconductor ETF	Reduced	24,586	-551	$13,021,236	−16.9%	0.80%
XLE	State Street(R) Energy Select Sector SPDR(R) ETF	Reduced	199,783	-6,370	$12,286,654	+12.2%	0.75%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	21,191	-503	$10,552,058	−2.8%	0.65%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	28,923	-1,047	$9,568,596	−2.5%	0.59%
META	Meta Platforms, Inc. Communication Services	Added	12,373	+4,718	$8,972,651	+108.1%	0.55%
CGHM	Capital Group Municipal High-Income ETF	Added	321,153	+30,477	$7,730,152	+2.9%	0.47%
NVDA	Nvidia Corp Technology	Reduced	30,222	-1,693	$6,902,099	+8.1%	0.42%
XLU	State Street(R) Utilities Select Sector SPDR(R) ETF	Reduced	164,835	-5,023	$6,501,091	−15.6%	0.40%
XLRE	State Street(R) Real Estate Select Sector SPDR(R) ETF	Reduced	152,896	-6,549	$6,254,975	−10.9%	0.38%
XLY	State Street(R) Consumer Discretionary Select Sector SPDR(R) ETF	Reduced	56,575	-577	$6,157,622	−8.1%	0.38%
AXP	American Express Co Financial Services	Reduced	20,060	-661	$6,100,245	−13.0%	0.37%
COST	Costco Wholesale Corp Consumer Defensive	Reduced	6,296	-103	$5,731,500	−4.3%	0.35%
WMT	Walmart Inc. Consumer Defensive	Reduced	54,813	-84	$5,696,166	−8.4%	0.35%
IEF	iShares 7-10 Year Treasury Bond ETF	Added	62,092	+4,408	$5,545,436	+1.7%	0.34%
CRM	Salesforce, Inc. Technology	Reduced	23,273	-1,144	$5,342,782	+39.7%	0.33%
HEFA	iShares Currency Hedged MSCI EAFE ETF	Reduced	114,145	-15,979	$5,295,186	−13.3%	0.32%
DIS	Walt Disney Co Communication Services	Reduced	50,463	-1,854	$5,293,568	+5.1%	0.32%
C	Citigroup Inc Financial Services	Reduced	40,373	-2,201	$5,227,495	−12.3%	0.32%
GSEW	Goldman Sachs Equal Weight U.S. Large Cap Equity ETF	Reduced	53,963	-1,024	$5,022,876	−3.3%	0.31%
MCD	Mcdonalds Corp Consumer Cyclical	Reduced	21,341	-745	$4,928,490	−17.4%	0.30%
KRE	State Street(R) SPDR(R) S&P(R) Regional Banking ETF	Reduced	67,650	-3,099	$4,697,615	−11.3%	0.29%
UNP	Union Pacific Corp Industrials	Reduced	16,678	-901	$4,538,583	−5.1%	0.28%
AVGO	Broadcom Inc. Technology	Added	12,507	+2,241	$4,392,332	+13.3%	0.27%
SPY	Spdr S&P 500 ETF Trust	Reduced	5,651	-1,338	$4,309,621	−17.4%	0.26%
EFA	iShares MSCI EAFE ETF	Reduced	39,197	-800	$4,072,176	−2.0%	0.25%
VOO	VANGUARD 500 INDEX FUND	Reduced	5,591	-98	$3,918,507	+0.3%	0.24%
LOW	Lowes Companies Inc Consumer Cyclical	Reduced	20,337	-535	$3,747,905	−18.6%	0.23%
ABT	Abbott Laboratories Healthcare	Reduced	37,863	-1,987	$3,742,000	+3.5%	0.23%
REVS	Columbia Research Enhanced Value ETF	Held	109,803	0	$3,601,758	+4.3%	0.22%

Showing the top 50 of 197 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.