FIRST INTERSTATE BANK

Filed: 4/29/2026ACC: 0001125727-26-000012

📋 What this filing means

FIRST INTERSTATE BANK filed this quarterly 13F‑HR report disclosing 187 equity positions with a total reported market value of $1.78B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

187

Positions

$1.78B

Total AUM (reported)

26.44M

Total Shares

Allocation by class

COM$362.69M20.4%

INT-TERM CORP$160.81M9.0%

S&P500 EQL WGT$146.10M8.2%

CORE S&P500 ETF$134.67M7.6%

INTER TERM TREAS$107.18M6.0%

CORE S&P MCP ETF$104.59M5.9%

PFD AND INCM SEC$87.90M4.9%

Portfolio Concentration

Top 3$462.32M26.0%

4–10$667.35M37.5%

11–25$348.61M19.6%

Rest$300.92M16.9%

Top 3 weight

26.0%

Top 10 weight

63.5%

Voting Authority Distribution

Total shares with voting rights: 26.44M

Sole

Full voting authority

21.57M

% of voting shares81.6%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

4.87M

% of voting shares18.4%

Investment Discretion (by position count)

Sole65

Shared0

Other122

Dominant voting typeSole · 81.6% of voting shares

Institutional Holdings187

Rows:

VANGUARD SCOTTSDALE FDS

DFND

INT-TERM CORP

Shares1.94M

TypeSH

Market value$160.81M

9.04%

Sole

1.94M

Shared

0.00

None

2.28K

FIRST INTST BANCSYSTEM INC

DFND

COM

Shares4.65M

TypeSH

Market value$155.41M

8.74%

Sole

91.07K

Shared

0.00

None

4.56M

INVESCO EXCHANGE TRADED FD T

DFND

S&P500 EQL WGT

Shares761.23K

TypeSH

Market value$146.10M

8.21%

Sole

759.75K

Shared

0.00

None

1.48K

ISHARES TR

DFND

CORE S&P500 ETF

Shares206.17K

TypeSH

Market value$134.67M

7.57%

Sole

206.10K

Shared

0.00

None

70.00

VANGUARD SCOTTSDALE FDS

DFND

INTER TERM TREAS

Shares1.80M

TypeSH

Market value$107.18M

6.02%

Sole

1.80M

Shared

0.00

None

2.94K

ISHARES TR

DFND

CORE S&P MCP ETF

Shares1.55M

TypeSH

Market value$104.59M

5.88%

Sole

1.55M

Shared

0.00

None

2.52K

ISHARES TR

DFND

PFD AND INCM SEC

Shares2.90M

TypeSH

Market value$87.90M

4.94%

Sole

2.89M

Shared

0.00

None

5.93K

ISHARES TR

DFND

CORE S&P SCP ETF

Shares679.70K

TypeSH

Market value$84.49M

4.75%

Sole

677.93K

Shared

0.00

None

1.77K

VANGUARD MALVERN FDS

DFND

STRM INFPROIDX

Shares1.52M

TypeSH

Market value$75.97M

4.27%

Sole

1.52M

Shared

0.00

None

1.54K

FLEXSHARES TR

DFND

MORNSTAR UPSTR

Shares1.32M

TypeSH

Market value$72.54M

4.08%

Sole

1.31M

Shared

0.00

None

3.60K

VANGUARD SCOTTSDALE FDS

DFND

MTG-BKD SECS ETF

Shares1.38M

TypeSH

Market value$64.77M

3.64%

Sole

1.38M

Shared

0.00

None

1.72K

ISHARES TR

DFND

IBONDS DEC 2033

Shares1.94M

TypeSH

Market value$50.16M

2.82%

Sole

1.94M

Shared

0.00

None

2.57K

GLOBAL X FDS

DFND

US INFR DEV ETF

Shares763.39K

TypeSH

Market value$38.79M

2.18%

Sole

762.15K

Shared

0.00

None

1.24K

SELECT SECTOR SPDR TR

DFND

STATE STREET TEC

Shares259.95K

TypeSH

Market value$34.55M

1.94%

Sole

259.08K

Shared

0.00

None

872.00

APPLE INC

DFND

COM

Shares79.14K

TypeSH

Market value$20.09M

1.13%

Sole

71.19K

Shared

0.00

None

7.95K

ALPHABET INC

DFND

CAP STK CL A

Shares58.76K

TypeSH

Market value$16.90M

0.95%

Sole

53.58K

Shared

0.00

None

5.18K

SELECT SECTOR SPDR TR

DFND

STATE STREET HEA

Shares114.97K

TypeSH

Market value$16.86M

0.95%

Sole

114.48K

Shared

0.00

None

494.00

SELECT SECTOR SPDR TR

DFND

STATE STREET COM

Shares146.62K

TypeSH

Market value$16.25M

0.91%

Sole

146.41K

Shared

0.00

None

209.00

MICROSOFT CORP

DFND

COM

Shares41.95K

TypeSH

Market value$15.53M

0.87%

Sole

36.98K

Shared

0.00

None

4.97K

SELECT SECTOR SPDR TR

DFND

STATE STREET IND

Shares92.58K

TypeSH

Market value$14.97M

0.84%

Sole

92.18K

Shared

0.00

None

403.00

AMAZON COM INC

DFND

COM

Shares68.31K

TypeSH

Market value$14.23M

0.80%

Sole

63.65K

Shared

0.00

None

4.66K

SELECT SECTOR SPDR TR

DFND

STATE STREET ENE

Shares206.56K

TypeSH

Market value$12.65M

0.71%

Sole

205.51K

Shared

0.00

None

1.05K

SELECT SECTOR SPDR TR

DFND

STATE STREET FIN

Shares247.69K

TypeSH

Market value$12.23M

0.69%

Sole

246.45K

Shared

0.00

None

1.24K

BERKSHIRE HATHAWAY INC DEL

DFND

CL B NEW

Shares21.85K

TypeSH

Market value$10.47M

0.59%

Sole

19.92K

Shared

0.00

None

1.94K

CISCO SYS INC

DFND

COM

Shares131.14K

TypeSH

Market value$10.18M

0.57%

Sole

115.92K

Shared

0.00

None

15.22K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
VANGUARD SCOTTSDALE FDSDFND	INT-TERM CORP	1.94M	SH	$160.81M 9.04%	1.94M	2.28K
FIRST INTST BANCSYSTEM INCDFND	COM	4.65M	SH	$155.41M 8.74%	91.07K	4.56M
INVESCO EXCHANGE TRADED FD TDFND	S&P500 EQL WGT	761.23K	SH	$146.10M 8.21%	759.75K	1.48K
ISHARES TRDFND	CORE S&P500 ETF	206.17K	SH	$134.67M 7.57%	206.10K	70.00
VANGUARD SCOTTSDALE FDSDFND	INTER TERM TREAS	1.80M	SH	$107.18M 6.02%	1.80M	2.94K
ISHARES TRDFND	CORE S&P MCP ETF	1.55M	SH	$104.59M 5.88%	1.55M	2.52K
ISHARES TRDFND	PFD AND INCM SEC	2.90M	SH	$87.90M 4.94%	2.89M	5.93K
ISHARES TRDFND	CORE S&P SCP ETF	679.70K	SH	$84.49M 4.75%	677.93K	1.77K
VANGUARD MALVERN FDSDFND	STRM INFPROIDX	1.52M	SH	$75.97M 4.27%	1.52M	1.54K
FLEXSHARES TRDFND	MORNSTAR UPSTR	1.32M	SH	$72.54M 4.08%	1.31M	3.60K
VANGUARD SCOTTSDALE FDSDFND	MTG-BKD SECS ETF	1.38M	SH	$64.77M 3.64%	1.38M	1.72K
ISHARES TRDFND	IBONDS DEC 2033	1.94M	SH	$50.16M 2.82%	1.94M	2.57K
GLOBAL X FDSDFND	US INFR DEV ETF	763.39K	SH	$38.79M 2.18%	762.15K	1.24K
SELECT SECTOR SPDR TRDFND	STATE STREET TEC	259.95K	SH	$34.55M 1.94%	259.08K	872.00
APPLE INCDFND	COM	79.14K	SH	$20.09M 1.13%	71.19K	7.95K
ALPHABET INCDFND	CAP STK CL A	58.76K	SH	$16.90M 0.95%	53.58K	5.18K
SELECT SECTOR SPDR TRDFND	STATE STREET HEA	114.97K	SH	$16.86M 0.95%	114.48K	494.00
SELECT SECTOR SPDR TRDFND	STATE STREET COM	146.62K	SH	$16.25M 0.91%	146.41K	209.00
MICROSOFT CORPDFND	COM	41.95K	SH	$15.53M 0.87%	36.98K	4.97K
SELECT SECTOR SPDR TRDFND	STATE STREET IND	92.58K	SH	$14.97M 0.84%	92.18K	403.00
AMAZON COM INCDFND	COM	68.31K	SH	$14.23M 0.80%	63.65K	4.66K
SELECT SECTOR SPDR TRDFND	STATE STREET ENE	206.56K	SH	$12.65M 0.71%	205.51K	1.05K
SELECT SECTOR SPDR TRDFND	STATE STREET FIN	247.69K	SH	$12.23M 0.69%	246.45K	1.24K
BERKSHIRE HATHAWAY INC DELDFND	CL B NEW	21.85K	SH	$10.47M 0.59%	19.92K	1.94K
CISCO SYS INCDFND	COM	131.14K	SH	$10.18M 0.57%	115.92K	15.22K

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