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Livermore
Livermore
ZHEN

First Interstate Bank

SEC CIK
0001125727
Latest filing
Jul 24, 2026

The latest 13F from First Interstate Bank covers Q2 2026 (filed Jul 24, 2026): 196 long positions worth $1.92B. The top 10 holdings make up 64.9% of the portfolio, and the largest is First Interstate Bancsystem Inc (FIBK) at 9.3%. Livermore has 21 filings on Form 13F from this institution, going back to Q2 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
17
Est. +$11.0M
Added
61
Est. +$61.4M
Reduced
74
Est. −$82.7M
Sold out
8
Est. −$9.65M

Top 5 holdings

Share of this quarter's portfolio value

  1. FIBKFirst Interstate Bancsystem Inc
    9.3%$177.9MHistory
  2. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    9.3%$177.5M
  3. iShares Core S&P 500 ETF464287200
    8.3%$159.8M
  4. Invesco Exchange Traded FD T46137V357
    8.1%$155.5M
  5. iShares Core S&P Mid-Cap ETF464287507
    6.3%$120.6M

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    +$16.9MAdded
  2. Vanguard Scottsdale FDS92206C706
    +$7.54MAdded
  3. Invesco Exchange Traded FD T46137V118
    +$5.80MNew
  4. iShares Core S&P 500 ETF464287200
    +$5.45MAdded
  5. iShares Tr464288687
    +$4.69MAdded

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. iShares Core S&P 500 ETF464287200
    +0.77 pp7.6% → 8.3%
  2. iShares Core S&P Mid-Cap ETF464287507
    +0.41 pp5.9% → 6.3%
  3. Invesco Exchange Traded FD T46137V118
    +0.30 pp0.0% → 0.3%
  4. Vanguard Intermediate-Term Corporate Bond ETF92206C870
    +0.23 pp9.0% → 9.3%
  5. State Street Industrial Select Sector SPDR ETF81369Y704
    +0.19 pp0.8% → 1.0%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Ibonds Dec 2033 Term Corporate ETF46436E130
    −$46.9MReduced
  2. Invesco Exchange Traded FD T46137V357
    −$6.49MReduced
  3. HONHoneywell International Inc
    −$5.55MSold outHistory
  4. BXBlackstone Inc.
    −$3.78MReducedHistory
  5. iShares Core S&P Small Cap ETF464287804
    −$3.36MReduced

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. iShares Ibonds Dec 2033 Term Corporate ETF46436E130
    −2.66 pp2.8% → 0.2%
  2. Flexshares Tr33939L407
    −0.80 pp4.1% → 3.3%
  3. HONHoneywell International Inc
    −0.31 pp0.3% → 0.0%History
  4. BXBlackstone Inc.
    −0.21 pp0.2% → <0.1%History
  5. MDLZMondelez International, Inc.
    −0.17 pp0.2% → <0.1%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$1.92B
+$137.3M (+7.7%) vs. prior quarter
Positions
196
+9 vs. prior quarter
Top 10 concentration
64.9%
Top 10 as share of value
Turnover
3.9%
Q2 2026, one quarter
Average holding period
17.3 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q2 2021), so positions held before then are understated.

13F filings by quarter

21 quarters, going back to Q2 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $1.92B (Q2 2026)

Q2 2021: $950.5MQ3 2021: $975.4MQ4 2021: $1.03BQ1 2022: $1.07BQ2 2022: $1.32BQ3 2022: $1.24BQ4 2022: $1.35BQ1 2023: $1.31BQ2 2023: $1.21BQ3 2023: $1.16BQ4 2023: $1.35BQ1 2024: $1.44BQ2 2024: $1.51BQ3 2024: $1.65BQ4 2024: $1.65BQ1 2025: $1.67BQ2 2025: $1.70BQ3 2025: $1.81BQ4 2025: $1.86BQ1 2026: $1.78BQ2 2026: $1.92B
Q2 2021Q2 2026
13F filings of First Interstate Bank by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 24, 2026196$1.92BFIBKVanguard Intermediate-Term Corporate Bond ETFiShares Core S&P 500 ETFvs. Q1 2026SEC
Q1 2026Apr 29, 2026187$1.78BVanguard Intermediate-Term Corporate Bond ETFFIBKInvesco Exchange Traded FD Tvs. Q4 2025SEC
Q4 2025Jan 29, 2026199$1.86BFIBKVanguard Intermediate-Term Corporate Bond ETFInvesco Exchange Traded FD Tvs. Q3 2025SEC
Q3 2025Oct 29, 2025201$1.81BVanguard Intermediate-Term Corporate Bond ETFFIBKInvesco Exchange Traded FD Tvs. Q2 2025SEC
Q2 2025Jul 30, 2025181$1.70BVanguard Intermediate-Term Corporate Bond ETFFIBKInvesco Exchange Traded FD Tvs. Q1 2025SEC
Q1 2025Apr 30, 2025170$1.67BVanguard Intermediate-Term Corporate Bond ETFFIBKInvesco Exchange Traded FD Tvs. Q4 2024SEC
Q4 2024Feb 4, 2025179$1.65BiShares Core S&P 500 ETFVanguard Intermediate-Term Corporate Bond ETFFIBKvs. Q3 2024SEC
Q3 2024Oct 29, 2024187$1.65BiShares Core S&P 500 ETFVanguard Intermediate-Term Corporate Bond ETFFIBKvs. Q2 2024SEC
Q2 2024Aug 7, 2024169$1.51BiShares Core S&P 500 ETFVanguard Intermediate-Term Corporate Bond ETFFIBKvs. Q1 2024SEC
Q1 2024May 1, 2024170$1.44BiShares Core S&P 500 ETFVanguard Intermediate-Term Corporate Bond ETFVanguard Scottsdale FDSvs. Q4 2023SEC
Q4 2023Jan 30, 2024159$1.35BiShares Core S&P 500 ETFFIBKVanguard Intermediate-Term Corporate Bond ETFvs. Q3 2023SEC
Q3 2023Oct 31, 2023168$1.16BFIBKVanguard Scottsdale FDSVanguard Intermediate-Term Corporate Bond ETFvs. Q2 2023SEC
Q2 2023Aug 1, 2023167$1.21BVanguard Scottsdale FDSFIBKVanguard Intermediate-Term Corporate Bond ETFvs. Q1 2023SEC
Q1 2023May 2, 2023178$1.31BFIBKVanguard Scottsdale FDSVanguard Intermediate-Term Corporate Bond ETFvs. Q4 2022SEC
Q4 2022Jan 30, 2023186$1.35BFIBKVanguard Scottsdale FDSVanguard Intermediate-Term Corporate Bond ETFvs. Q3 2022SEC
Q3 2022Oct 25, 2022177$1.24BFIBKVanguard Intermediate-Term Corporate Bond ETFVanguard Scottsdale FDSvs. Q2 2022SEC
Q2 2022Aug 12, 2022167$1.32BFIBKVanguard Intermediate-Term Corporate Bond ETFVanguard Scottsdale FDSvs. Q1 2022SEC
Q1 2022May 6, 2022118$1.07BVanguard Intermediate-Term Corporate Bond ETFiShares Core S&P Small Cap ETFVanguard Scottsdale FDSvs. Q4 2021SEC
Q4 2021Jan 28, 2022112$1.03BVanguard Intermediate-Term Corporate Bond ETFVanguard Scottsdale FDSiShares Core S&P Small Cap ETFvs. Q3 2021SEC
Q3 2021Nov 1, 2021110$975.4MVanguard Intermediate-Term Corporate Bond ETFVanguard Scottsdale FDSiShares Trvs. Q2 2021SEC
Q2 2021Jul 29, 2021110$950.5MVanguard Intermediate-Term Corporate Bond ETFVanguard Scottsdale FDSiShares Core S&P 500 ETF–SEC