Q3 2026 13F · SEC CIK 1125727

First Interstate Bank

Bank & trustFiled 2026-10-23 for Q3 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $1.9B
Reported positions: 197
Top holdings a year, 3 yrs: +10.8%
Average holding period: 6.3 yrs

First Interstate Bank is a bank & trust that reported 197 positions worth $1.9B in its Q3 2026 13F, filed 2026-10-23. Its largest holdings were Vanguard Scottsdale Fds (VCIT, 9.0%), First Intst Bancsystem Inc (FIBK, 8.7%), Ishares Tr (IVV, 8.5%). A portfolio copying its top holdings returned 10.8% a year over the last 3 years, against 20.4% for the S&P 500.

First Interstate Bank holdings largest 50 of 197 positions.

Weights are shares of the filer's total reported 13F value, compared with Q2 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

First Interstate Bank 13F holdings
Stock	% of 13F value	Q2 2026	Shares	Share change	Reported value
VCITVanguard Scottsdale Fds	9.0%	9.3%	2,155,101	+0.3%	$168.8M
FIBKFirst Intst Bancsystem Inc	8.7%	9.3%	4,591,104	-0.5%	$164.1M
IVVIshares Tr	8.5%	8.3%	209,065	-2.1%	$160.1M
RSPInvesco Exchange Traded Fd T	8.0%	8.1%	717,930	-1.8%	$149.3M
IJHIshares Tr	5.9%	6.3%	1,541,825	-1.4%	$110.9M
VGITVanguard Scottsdale Fds	5.8%	5.9%	1,925,152	-0.1%	$109.1M
PFFIshares Tr	4.9%	4.9%	3,096,662	+1.4%	$91.4M
IJRIshares Tr	4.7%	5.1%	645,437	-1.8%	$87.8M
VTIPVanguard Malvern Fds	4.1%	4.1%	1,556,685	-0.8%	$76.6M
VMBSVanguard Scottsdale Fds	3.5%	3.6%	1,483,366	+1.1%	$65.9M
GUNRNorthern Trust Global Natural	3.5%	3.3%	1,231,513	-3.2%	$64.9M
XLKSelect Sector Spdr Tr	2.6%	2.5%	250,871	+0.8%	$49.1M
PAVEGlobal X U.s. Infrastructure Development	2.1%	2.3%	739,373	-2.2%	$38.8M
AAPLApple Inc	1.5%	1.2%	84,894	+11.1%	$28.3M
XLISelect Sector Spdr Tr	1.3%	1.0%	141,825	+32.5%	$23.7M
MSFTMicrosoft Corp	1.1%	0.8%	42,025	+1.1%	$21.6M
GOOGLAlphabet Inc	1.0%	1.1%	56,896	-3.6%	$19.6M
XLVSelect Sector Spdr Tr	1.0%	0.9%	108,377	-3.9%	$18.3M
XLCSelect Sector Spdr Tr	0.9%	0.8%	157,125	+6.4%	$17.4M
PANWPalo Alto Networks Inc	0.9%	0.8%	42,962	-6.0%	$17.1M
AMZNAmazon Com Inc	0.9%	0.9%	66,744	-2.8%	$16.6M
SUBIshares Tr	0.7%	—	127,211	—	$13.3M
CSCOCisco Sys Inc	0.7%	0.8%	122,973	-2.8%	$13.2M
XSDSpdr Series Trust	0.7%	0.8%	24,586	-2.2%	$13.0M
XLFSelect Sector Spdr Tr	0.7%	0.7%	239,941	-2.7%	$12.8M
XLESelect Sector Spdr Tr	0.7%	0.6%	199,783	-3.1%	$12.3M
BRK-BBerkshire Hathaway Inc Del	0.6%	0.6%	21,191	-2.3%	$10.6M
JPMJpmorgan Chase & Co	0.5%	0.5%	28,923	-3.5%	$9.6M
METAMeta Platforms Inc	0.5%	—	12,373	—	$9.0M
IBBIshares Tr	0.4%	0.4%	38,873	-4.1%	$8.2M
CGHMCapital Grp Fixed Incm ETF T	0.4%	0.4%	321,153	+10.5%	$7.7M
NVDANvidia Corporation	0.4%	0.3%	30,222	-5.3%	$6.9M
BUGGlobal X Cybersecurity ETF	0.4%	0.3%	144,687	-3.7%	$6.7M
XLUSelect Sector Spdr Tr	0.3%	0.4%	164,835	-3.0%	$6.5M
XLBSelect Sector Spdr Tr	0.3%	0.4%	129,423	-3.3%	$6.3M
XLRESelect Sector Spdr Tr	0.3%	0.4%	152,896	-4.1%	$6.3M
XLYSelect Sector Spdr Tr	0.3%	0.3%	56,575	-1.0%	$6.2M
AXPAmerican Express Co	0.3%	0.4%	20,060	-3.2%	$6.1M
XLPSelect Sector Spdr Tr	0.3%	0.3%	74,928	-3.0%	$6.0M
COSTCostco Wholesale Corporation	0.3%	0.3%	6,296	-1.6%	$5.7M
WMTWalmart Inc	0.3%	0.3%	54,813	-0.2%	$5.7M
PSPInvesco Exchange Traded Fd T	0.3%	0.3%	99,961	-4.0%	$5.6M
IEFIshares Tr	0.3%	0.3%	62,092	+7.6%	$5.5M
CRMSalesforce Inc	0.3%	—	23,273	—	$5.3M
HEFAIshares Tr	0.3%	0.3%	114,145	-12.3%	$5.3M
DISDisney Walt Co	0.3%	0.3%	50,463	-3.5%	$5.3M
CCitigroup Inc	0.3%	0.3%	40,373	-5.2%	$5.2M
GSEWGoldman Sachs Equal Weight US Large Cap	0.3%	0.3%	53,963	-1.9%	$5.0M
MCDMcdonalds Corp	0.3%	0.3%	21,341	-3.4%	$4.9M
PFFDGlobal X US Preferred	0.3%	0.3%	271,170	-15.6%	$4.8M

What First Interstate Bank bought and sold in Q3 2026, against Q2 2026.

New positions

Q2 2026's filing was too long to tell new positions apart.

Added to

XLI Select Sector Spdr Tr+32.5% shares
AAPL Apple Inc+11.1% shares
CGHM Capital Grp Fixed Incm ETF T+10.5% shares
IEF Ishares Tr+7.6% shares
XLC Select Sector Spdr Tr+6.4% shares

Reduced

Left the top 50

KRE Spdr Series Trustwas 0.3%
SPY State Str Spdr S&p 500 ETF Twas 0.3%
UNP Union Pac Corpwas 0.2%

Share counts compared with the Q2 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +14.5% /yr; S&P 500 +20.1%
3 years: +10.8% /yr; S&P 500 +20.4%
5 years: +3.0% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q3 2026	$1.9B	197
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

Questions about First Interstate Bank's portfolio

What stocks does First Interstate Bank own?

First Interstate Bank's latest 13F, for Q3 2026 and filed Oct 23, 2026, lists 197 positions worth $1.9B. The largest are Vanguard Scottsdale Fds (VCIT) at 9.0%, First Intst Bancsystem Inc (FIBK) at 8.7%, Ishares Tr (IVV) at 8.5%, Invesco Exchange Traded Fd T (RSP) at 8.0% and Ishares Tr (IJH) at 5.9%.

What did First Interstate Bank buy last quarter?

In Q3 2026, First Interstate Bank added Select Sector Spdr Tr (XLI) (+32.5% shares), Apple Inc (AAPL) (+11.1% shares) and Capital Grp Fixed Incm ETF T (CGHM) (+10.5% shares), compared with its Q2 2026 filing.

What did First Interstate Bank sell last quarter?

In Q3 2026, First Interstate Bank cut from its top 50 Spdr Series Trust (KRE), cut from its top 50 State Str Spdr S&p 500 ETF T (SPY), cut from its top 50 Union Pac Corp (UNP), Global X US Preferred (PFFD) (-15.6% shares), Ishares Tr (HEFA) (-12.3% shares) and Palo Alto Networks Inc (PANW) (-6.0% shares), compared with its Q2 2026 filing.

How has First Interstate Bank's portfolio performed?

A portfolio copying First Interstate Bank's 20 largest 13F holdings each quarter, from the day each filing was public, returned +10.8% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +14.5% against +20.1%. Over 5 years: +3.0% a year against +11.6%.

When is First Interstate Bank's next 13F filing due?

13F filings are due 45 days after each quarter ends. First Interstate Bank's filing for the quarter ending Dec 31, 2026 is due by Feb 14, 2027; this page updates the day after it is published.