First Interstate Bank

Bank

CIK

1125727

Location

Billings, MT

Portfolio Value

Small $416,068,584

Diversification

Moderately concentrated

Filing Date

Global Rank

#2,893 / 8,604 ▼ 83 · as of Mar 2026

Top Industry

Banks - Regional 38.0%

3Y Alpha vs SPY

+0.3%

Period ended 3 months ago

Filed Apr 29, 2026 · 2mo

24 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+78.5%

SPY

+76.5%

Annualised alpha

+0.4%

Max drawdown

−21.8%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

115 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

37.4%

+1.6 pts

Top 5

53.4%

+0.9 pts

Top 10

63.9%

+0.3 pts

HHI

1,512

Moderately concentrated+111

Portfolio Trend

24 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	47.8%	$198,987,023	19
Technology	18.1%	$75,117,008	19
Consumer Cyclical	7.3%	$30,211,566	9
Communication Services	6.6%	$27,562,922	6
Industrials	5.8%	$24,158,497	19
Consumer Defensive	5.1%	$21,070,360	9
Healthcare	4.3%	$17,829,112	14
Energy	2.8%	$11,798,592	12
Basic Materials	1.2%	$5,008,007	6
Unclassified	1.0%	$4,325,497	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

12 positions

Ticker	Company	Δ Shares	Shares	Value
CRM	Salesforce, Inc.	+9,013	24,279	$4,532,160
BA	Boeing Co	+5,361	6,337	$1,261,253
AAPL	Apple Inc.	+1,286	79,141	$20,085,193
BMI	Badger Meter Inc	+1,053	3,596	$547,849
ADP	Automatic Data Processing Inc	+644	4,392	$892,366
WFC	Wells Fargo & Company/Mn	+528	13,437	$1,069,719
TRP	Tc Energy Corp	+499	15,199	$951,457
MSFT	Microsoft Corp	+360	41,954	$15,530,111
ORCL	Oracle Corp	+192	12,370	$1,819,749
INTC	Intel Corp	+97	17,647	$778,762
CVX	Chevron Corp	+49	6,161	$1,274,710
META	Meta Platforms, Inc.	+18	7,233	$4,138,215
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
WMT	Walmart Inc.	−30,472	55,749	$6,928,484
FIBK	First Interstate Bancsystem Inc	−12,163	4,653,119	$155,414,174
UNH	Unitedhealth Group Inc	−8,927	1,770	$478,943
PFE	Pfizer Inc	−6,322	131,289	$3,686,595
CSCO	Cisco Systems, Inc.	−5,261	131,143	$10,175,384
XOM	Exxon Mobil Corp	−4,807	12,344	$2,094,282
MDLZ	Mondelez International, Inc.	−3,226	59,609	$3,435,862
BMY	Bristol Myers Squibb Co	−3,018	5,419	$328,661
MPC	Marathon Petroleum Corp	−2,826	7,949	$1,940,986
KO	Coca Cola Co	−2,391	13,939	$1,060,060
C	Citigroup Inc	−1,986	43,821	$4,969,739
T	At&T Inc.	−1,864	29,042	$841,927
ABBV	AbbVie Inc.	−1,686	5,665	$1,232,080
NVDA	Nvidia Corp	−1,663	31,191	$5,439,709
JPM	Jpmorgan Chase & Co	−1,586	29,524	$8,684,779
BX	Blackstone Inc.	−1,559	34,064	$3,917,018
V	Visa Inc.	−1,442	1,658	$501,113
PANW	Palo Alto Networks Inc	−1,433	46,683	$7,484,218
MDT	Medtronic plc	−1,398	2,425	$210,126
MRK	Merck & Co., Inc.	−1,377	15,822	$1,903,227
UNP	Union Pacific Corp	−1,321	17,494	$4,244,393
PEP	Pepsico Inc	−1,302	7,101	$1,102,713
ABT	Abbott Laboratories	−1,251	42,889	$4,403,413
EMR	Emerson Electric Co	−1,204	21,459	$2,811,557
JCI	Johnson Controls International plc	−1,123	9,377	$1,227,918
No positions match the current search.

New Positions

Positions the filer opened this quarter

9 positions

Ticker	Company	Shares	Value
TTE	TotalEnergies SE	7,000	$636,860
WM	Waste Management Inc	1,415	$325,152
RL	Ralph Lauren Corp	926	$318,534
F	Ford Motor Co	22,995	$265,362
LMT	Lockheed Martin Corp	381	$230,272
AMX	America Movil Sab De Cv/	8,783	$223,790
ET	Energy Transfer LP	11,499	$221,930
ETN	Eaton Corp plc	600	$214,602
SEE	SEALED AIR CORP/DE	5,029	$211,469
No positions match the current search.

Sold Out

Positions the filer fully exited

21 positions

Ticker	Company	Shares	Value
FHN	First Horizon Corp	35,500	$848,450
QQQ	Invesco Qqq Trust, Series 1	834	$512,334
SPGI	S&P Global Inc.	930	$486,008
LRCX	Lam Research Corp	2,355	$403,128
SCHW	Schwab Charles Corp	3,364	$336,097
MLM	Martin Marietta Materials Inc	500	$311,330
ADSK	Autodesk, Inc.	1,015	$300,450
GWW	W.W. Grainger, Inc.	285	$287,579
NKE	NIKE, Inc.	4,158	$264,905
LLY	ELI LILLY & Co	230	$247,176
FFIC	Flushing Financial Corp	16,000	$242,720
IDXX	Idexx Laboratories Inc /De	350	$236,785
PAYX	Paychex Inc	2,094	$234,904
IAU	Ishares Gold Trust	2,865	$232,552
PWR	Quanta Services, Inc.	550	$232,133
KMI	Kinder Morgan, Inc.	8,400	$230,916
FISV	Fiserv Inc	3,296	$221,391
ROK	Rockwell Automation, Inc	550	$213,988
PYPL	PayPal Holdings, Inc.	3,602	$210,284
BDX	Becton Dickinson & Co	1,260	$192,239
IQI	Invesco Quality Municipal Income Trust	12,511	$124,609
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

115 positions · $416,068,584 total · as of Mar 31, 2026

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

Showing 1–50 of 115 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
FIBK	First Interstate Bancsystem Inc Financial Services	Reduced	4,653,119	-12,163	$155,414,174	−3.7%	37.35%
AAPL	Apple Inc. Technology	Added	79,141	+1,286	$20,085,193	−5.1%	4.83%
GOOGL	Alphabet Inc. Communication Services	Reduced	58,756	-401	$16,895,874	−8.8%	4.06%
MSFT	Microsoft Corp Technology	Added	41,954	+360	$15,530,111	−22.8%	3.73%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	68,307	-976	$14,226,298	−11.0%	3.42%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	21,853	-914	$10,471,957	−8.5%	2.52%
CSCO	Cisco Systems, Inc. Technology	Reduced	131,143	-5,261	$10,175,384	−3.2%	2.45%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	29,524	-1,586	$8,684,779	−13.4%	2.09%
PANW	Palo Alto Networks Inc Technology	Reduced	46,683	-1,433	$7,484,218	−15.6%	1.80%
WMT	Walmart Inc. Consumer Defensive	Reduced	55,749	-30,472	$6,928,484	−27.9%	1.67%
MCD	Mcdonalds Corp Consumer Cyclical	Reduced	22,029	-1,053	$6,846,392	−3.0%	1.65%
COST	Costco Wholesale Corp /New Consumer Defensive	Reduced	6,373	-269	$6,350,247	+10.9%	1.53%
AXP	American Express Co Financial Services	Reduced	20,567	-1,111	$6,221,106	−22.4%	1.50%
HON	Honeywell International Inc Industrials	Reduced	24,570	-657	$5,553,556	+12.8%	1.33%
NVDA	Nvidia Corp Technology	Reduced	31,191	-1,663	$5,439,709	−11.2%	1.31%
DIS	Walt Disney Co Communication Services	Reduced	53,059	-818	$5,113,825	−16.6%	1.23%
C	Citigroup Inc Financial Services	Reduced	43,821	-1,986	$4,969,739	−7.0%	1.19%
LOW	Lowes Companies Inc Consumer Cyclical	Reduced	20,999	-917	$4,961,643	−6.1%	1.19%
CRM	Salesforce, Inc. Technology	Added	24,279	+9,013	$4,532,160	+12.1%	1.09%
ABT	Abbott Laboratories Healthcare	Reduced	42,889	-1,251	$4,403,413	−20.4%	1.06%
UNP	Union Pacific Corp Industrials	Reduced	17,494	-1,321	$4,244,393	−2.5%	1.02%
META	Meta Platforms, Inc. Communication Services	Added	7,233	+18	$4,138,215	−13.1%	0.99%
SPY	Spdr S&P 500 ETF Trust	Reduced	6,323	-66	$4,112,099	−5.6%	0.99%
BX	Blackstone Inc. Financial Services	Reduced	34,064	-1,559	$3,917,018	−28.7%	0.94%
PFE	Pfizer Inc Healthcare	Reduced	131,289	-6,322	$3,686,595	+7.6%	0.89%
MDLZ	Mondelez International, Inc. Consumer Defensive	Reduced	59,609	-3,226	$3,435,862	+1.6%	0.83%
AVGO	Broadcom Inc. Technology	Reduced	10,216	-21	$3,161,954	−10.8%	0.76%
HD	Home Depot, Inc. Consumer Cyclical	Reduced	8,974	-16	$2,951,458	−4.6%	0.71%
AEM	Agnico Eagle Mines Ltd Basic Materials	Held	14,279	0	$2,898,351	+19.7%	0.70%
EMR	Emerson Electric Co Industrials	Reduced	21,459	-1,204	$2,811,557	−6.5%	0.68%
KKR	KKR & Co. Inc. Financial Services	Reduced	24,209	-293	$2,239,332	−28.3%	0.54%
JNJ	Johnson & Johnson Healthcare	Reduced	8,689	-796	$2,123,939	+8.2%	0.51%
XOM	Exxon Mobil Corp Energy	Reduced	12,344	-4,807	$2,094,282	+1.5%	0.50%
CAT	Caterpillar Inc Industrials	Reduced	2,790	-270	$1,976,603	+12.8%	0.48%
MPC	Marathon Petroleum Corp Energy	Reduced	7,949	-2,826	$1,940,986	+10.8%	0.47%
PSX	Phillips 66 Energy	Reduced	10,477	-1,080	$1,908,699	+28.0%	0.46%
MRK	Merck & Co., Inc. Healthcare	Reduced	15,822	-1,377	$1,903,227	+5.1%	0.46%
ORCL	Oracle Corp Technology	Added	12,370	+192	$1,819,749	−23.3%	0.44%
CVX	Chevron Corp Energy	Added	6,161	+49	$1,274,710	+36.8%	0.31%
BA	Boeing Co Industrials	Added	6,337	+5,361	$1,261,253	+495.2%	0.30%
TMO	Thermo Fisher Scientific Inc. Healthcare	Reduced	2,562	-115	$1,259,299	−18.8%	0.30%
ABBV	AbbVie Inc. Healthcare	Reduced	5,665	-1,686	$1,232,080	−26.6%	0.30%
JCI	Johnson Controls International plc Industrials	Reduced	9,377	-1,123	$1,227,918	−2.3%	0.30%
APH	Amphenol Corp /De/ Technology	Held	9,600	0	$1,212,960	−6.5%	0.29%
DE	Deere & Co Industrials	Reduced	2,135	-30	$1,202,645	+19.3%	0.29%
PEP	Pepsico Inc Consumer Defensive	Reduced	7,101	-1,302	$1,102,713	−8.6%	0.27%
WFC	Wells Fargo & Company/Mn Financial Services	Added	13,437	+528	$1,069,719	−11.1%	0.26%
KO	Coca Cola Co Consumer Defensive	Reduced	13,939	-2,391	$1,060,060	−7.1%	0.25%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	7,092	-320	$1,024,367	−3.6%	0.25%
GE	General Electric Co Industrials	Reduced	3,384	-179	$960,277	−12.5%	0.23%