FIRST INTERSTATE BANK

Bank

CIK

860413

Location

BILLINGS, MT

Portfolio Value

Small $164,675,444

Diversification

Diversified

Filing Date

Mar 31, 2021

Global Rank

#3,374 / 5,900

Top Industry

Software - Infrastructure 8.5%

3Y Alpha vs SPY

-6.5%

Period ended 5 years ago

Filed Apr 27, 2021 · 5y

Clone Performance

Jun 2023–Jun 2026 · vs SPY

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

Cloned portfolio

+49.5%

SPY

+76.3%

Annualised alpha

-6.5%

Max drawdown

−18.0%

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

67 positions · as of Mar 31, 2021

Top Position

7.9%

of portfolio value

Top 5

28.6%

of portfolio value

Top 10

44.7%

of portfolio value

HHI

335

Diversified

Sector Breakdown

As of Mar 31, 2021

Sector	% Portfolio	Value	Positions
Technology	25.6%	$42,171,237	10
Financial Services	17.9%	$29,424,441	9
Consumer Cyclical	13.7%	$22,479,616	7
Industrials	10.8%	$17,720,677	7
Healthcare	9.7%	$15,949,628	12
Communication Services	8.9%	$14,716,363	5
Consumer Defensive	8.4%	$13,880,392	7
Unclassified	3.5%	$5,763,905	3
Utilities	0.8%	$1,355,150	2
Basic Materials	0.4%	$611,296	3
Energy	0.4%	$602,739	2

Portfolio Positions

Compact Export CSV View 13F filing

67 positions · $164,675,444 total · as of Mar 31, 2021

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

Showing 1–50 of 67 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
MSFT	Microsoft Corp Technology	First	55,277	—	$13,032,657	—	7.91%
AAPL	Apple Inc. Technology	First	92,434	—	$11,290,812	—	6.86%
LOW	Lowes Companies Inc Consumer Cyclical	First	50,617	—	$9,626,340	—	5.85%
NKE	NIKE, Inc. Consumer Cyclical	First	54,844	—	$7,288,218	—	4.43%
BRK-B	Berkshire Hathaway Inc Financial Services	First	22,951	—	$5,863,291	—	3.56%
DIS	Walt Disney Co Communication Services	First	31,464	—	$5,805,737	—	3.53%
CSCO	Cisco Systems, Inc. Technology	First	111,526	—	$5,767,008	—	3.50%
SPY	Spdr S&P 500 ETF Trust	First	13,177	—	$5,222,440	—	3.17%
UNH	Unitedhealth Group Inc Healthcare	First	13,614	—	$5,065,360	—	3.08%
MDLZ	Mondelez International, Inc. Consumer Defensive	First	80,759	—	$4,726,824	—	2.87%
JPM	Jpmorgan Chase & Co Financial Services	First	30,523	—	$4,646,515	—	2.82%
SWKS	Skyworks Solutions, Inc. Technology	First	25,074	—	$4,600,577	—	2.79%
UNP	Union Pacific Corp Industrials	First	20,293	—	$4,472,779	—	2.72%
FIBK	First Interstate Bancsystem Inc Financial Services	First	96,215	—	$4,429,737	—	2.69%
FDX	Fedex Corp Industrials	First	14,898	—	$4,231,627	—	2.57%
BMY	Bristol Myers Squibb Co Healthcare	First	66,085	—	$4,171,945	—	2.53%
CMCSA	Comcast Corp Communication Services	First	78,093	—	$3,960,275	—	2.40%
META	Meta Platforms, Inc. Communication Services	First	13,399	—	$3,946,406	—	2.40%
MCD	Mcdonalds Corp Consumer Cyclical	First	17,242	—	$3,864,621	—	2.35%
AXP	American Express Co Financial Services	First	27,073	—	$3,829,204	—	2.33%
C	Citigroup Inc Financial Services	First	51,182	—	$3,723,490	—	2.26%
GS	Goldman Sachs Group Inc Financial Services	First	11,307	—	$3,697,389	—	2.25%
CRM	Salesforce, Inc. Technology	First	16,185	—	$3,429,115	—	2.08%
PEP	Pepsico Inc Consumer Defensive	First	22,464	—	$3,177,531	—	1.93%
HON	Honeywell International Inc Industrials	First	15,429	—	$3,156,619	—	1.92%
ABT	Abbott Laboratories Healthcare	First	24,655	—	$2,954,655	—	1.79%
COST	Costco Wholesale Corp /New Consumer Defensive	First	7,929	—	$2,794,813	—	1.70%
EMR	Emerson Electric Co Industrials	First	29,679	—	$2,677,638	—	1.63%
MAS	Masco Corp /De/ Industrials	First	43,914	—	$2,630,448	—	1.60%
QCOM	Qualcomm Inc/De Technology	First	17,735	—	$2,351,483	—	1.43%
ICE	Intercontinental Exchange, Inc. Financial Services	First	18,755	—	$2,094,557	—	1.27%
WMT	Walmart Inc. Consumer Defensive	First	41,520	—	$1,879,888	—	1.14%
EXC	Exelon Corp Utilities	First	34,704	—	$1,082,705	—	0.66%
JNJ	Johnson & Johnson Healthcare	First	5,377	—	$883,709	—	0.54%
MA	Mastercard Inc Financial Services	First	2,392	—	$851,671	—	0.52%
HD	Home Depot, Inc. Consumer Cyclical	First	2,487	—	$759,156	—	0.46%
INTC	Intel Corp Technology	First	11,740	—	$751,360	—	0.46%
T	At&T Inc. Communication Services	First	27,543	—	$629,701	—	0.38%
AMZN	Amazon Com Inc Consumer Cyclical	First	3,779	—	$584,626	—	0.36%
MRK	Merck & Co., Inc. Healthcare	First	7,804	—	$574,055	—	0.35%
TMO	Thermo Fisher Scientific Inc. Healthcare	First	1,200	—	$547,656	—	0.33%
TGT	Target Corp Consumer Defensive	First	2,509	—	$496,957	—	0.30%
PANW	Palo Alto Networks Inc Technology	First	8,604	—	$461,833	—	0.28%
LMNR	Limoneira CO Consumer Defensive	First	25,000	—	$437,500	—	0.27%
PFE	Pfizer Inc Healthcare	First	11,070	—	$401,066	—	0.24%
GOOGL	Alphabet Inc. Communication Services	First	3,629	—	$374,244	—	0.23%
PG	PROCTER & GAMBLE Co Consumer Defensive	First	2,709	—	$366,879	—	0.22%
CVX	Chevron Corp Energy	First	3,470	—	$363,620	—	0.22%
GD	General Dynamics Corp Industrials	First	1,905	—	$345,871	—	0.21%
CI	Cigna Group Healthcare	First	1,387	—	$335,293	—	0.20%