First International Bank & Trust

WATFORD CITY, ND

$288m in 56 US stocks at the end of 30 September 2025. The top 10 are 80.0% of the money. It changed about 2.4% of the portfolio this quarter.

Value

$288m

Stocks

Top 10 share

80.0%

Turnover

2.4%

What changed this quarter

New

Bought for the first time this quarter.

AbbVieABBV
<0.1% of the fund
Vanguard Index FDSVO
<0.1% of the fund

Added

Bought more of a stock they already held.

American ExpressAXP
0.6% of the fund
+4%
Berkshire HathawayBRK-B
0.6% of the fund
+11%
Costco WholesaleCOST
0.6% of the fund
+4%

Cut

Sold some of their stake.

TWO RDS Shared TR
24.8% of the fund
-3%
Ssga Active ETF TRRLY
8.3% of the fund
-3%
Wisdomtree TRDXJ
6.3% of the fund
-5%
TWO RDS Shared TR
5.1% of the fund
-4%
First TR Exchange-Traded FDLMBS
3.6% of the fund
-2%
Schwab Strategic TRSCHA
1.0% of the fund
-12%
Spdr Series TrustSPMD
1.0% of the fund
-11%
Janus Detroit STR TRJAAA
1.0% of the fund
-16%
MicrosoftMSFT
0.9% of the fund
-5%
Vaneck ETF TrustMOAT
0.7% of the fund
-9%
Ishares TRIGSB
0.6% of the fund
-24%
AppleAAPL
0.3% of the fund
-23%
Amazon.comAMZN
0.2% of the fund
-17%
Automatic Data ProcessingADP
0.2% of the fund
-14%
Select Sector Spdr TRXLV
0.1% of the fund
-7%
Cisco SystemsCSCO
0.1% of the fund
-9%
Lowe's CompaniesLOW
<0.1% of the fund
-23%
ExxonMobil HoldingsXOM
<0.1% of the fund
-3%
McDonald'sMCD
<0.1% of the fund
-11%

Sold out

Sold their entire stake.

Abrdn Platinum ETF TrustPPLT
-100%
Ishares Silver TRSLV
-100%
Ishares TRFLOT
-100%
OracleORCL
-100%
AflacAFL
-100%
Lockheed MartinLMT
-100%
PfizerPFE
-100%
Walt DisneyDIS
-100%
Abbott LaboratoriesABT
-100%

Holdings

TWO RDS Shared TR
Share
24.8%
Value
$71m
Shares
7,608,507
-3%
Invesco Exchange Traded FD TSPHQ
Share
14.3%
Value
$41m
Shares
560,123
Held
Ssga Active ETF TRRLY
Share
8.3%
Value
$24m
Shares
776,930
-3%
State STR Spdr S&P 500 ETF TSPY
Share
6.8%
Value
$20m
Shares
29,273
Held
Wisdomtree TRDXJ
Share
6.3%
Value
$18m
Shares
142,667
-5%
TWO RDS Shared TR
Share
5.1%
Value
$15m
Shares
715,906
-4%
Ishares TRSMLF
Share
4.6%
Value
$13m
Shares
178,490
Held
Invesco Exchange Traded FD TXMHQ
Share
4.1%
Value
$12m
Shares
113,058
Held
First TR Exchange-Traded FDLMBS
Share
3.6%
Value
$10m
Shares
205,968
-2%
Spdr Series TrustBIL
Share
2.0%
Value
$6m
Shares
62,008
Held
J P Morgan Exchange Traded FJPST
Share
2.0%
Value
$6m
Shares
111,746
Held
Ishares TRICSH
Share
2.0%
Value
$6m
Shares
111,382
Held
Berkshire Hathaway INC DELBRK-A
Share
1.3%
Value
$4m
Shares
5
Held
Schwab Strategic TRSCHA
Share
1.0%
Value
$3m
Shares
107,780
-12%
Pimco ETF TRMUNI
Share
1.0%
Value
$3m
Shares
57,322
Held
Spdr Series TrustSPMD
Share
1.0%
Value
$3m
Shares
48,934
-11%
Janus Detroit STR TRJAAA
Share
1.0%
Value
$3m
Shares
54,571
-16%
MicrosoftMSFT
Share
0.9%
Value
$3m
Shares
4,854
-5%
Spdr Series TrustSHM
Share
0.8%
Value
$2m
Shares
45,999
Held
Ishares TRMUB
Share
0.7%
Value
$2m
Shares
20,206
Held
Vaneck ETF TrustMOAT
Share
0.7%
Value
$2m
Shares
20,492
-9%
WalmartWMT
Share
0.7%
Value
$2m
Shares
18,262
Held
Ishares TRIGSB
Share
0.6%
Value
$2m
Shares
33,249
-24%
American ExpressAXP
Share
0.6%
Value
$2m
Shares
5,255
+4%
Berkshire HathawayBRK-B
Share
0.6%
Value
$2m
Shares
3,392
+11%
Costco WholesaleCOST
Share
0.6%
Value
$2m
Shares
1,785
+4%
Alkami TechnologyALKT
Share
0.4%
Value
$1m
Shares
46,310
Held
Vanguard Index FDSVNQ
Share
0.3%
Value
$977,006
Shares
10,687
Held
AppleAAPL
Share
0.3%
Value
$972,432
Shares
3,819
-23%
DeereDE
Share
0.3%
Value
$953,844
Shares
2,086
Held
Vanguard Index FDSVUG
Share
0.3%
Value
$724,691
Shares
1,511
Held
ChevronCVX
Share
0.2%
Value
$698,805
Shares
4,500
Held
Amazon.comAMZN
Share
0.2%
Value
$641,364
Shares
2,921
-17%
Automatic Data ProcessingADP
Share
0.2%
Value
$616,644
Shares
2,101
-14%
Select Sector Spdr TRXLK
Share
0.2%
Value
$613,891
Shares
2,178
Held
Goldman Sachs ETF TRGSLC
Share
0.2%
Value
$472,004
Shares
3,623
Held
Verizon CommunicationsVZ
Share
0.2%
Value
$455,542
Shares
10,365
Held
Vanguard Index FDSVTV
Share
0.1%
Value
$364,028
Shares
1,952
Held
VisaV
Share
0.1%
Value
$360,156
Shares
1,055
Held
Select Sector Spdr TRXLC
Share
0.1%
Value
$336,763
Shares
2,845
Held
Select Sector Spdr TRXLV
Share
0.1%
Value
$318,282
Shares
2,287
-7%
Select Sector Spdr TRXLF
Share
0.1%
Value
$304,312
Shares
5,649
Held
Cisco SystemsCSCO
Share
0.1%
Value
$303,785
Shares
4,440
-9%
Invesco Exch Traded FD TR IIIFLN
Share
0.1%
Value
$292,839
Shares
15,761
Held
AmgenAMGN
Share
<0.1%
Value
$268,372
Shares
951
Held
International Business MachinesIBM
Share
<0.1%
Value
$253,380
Shares
898
Held
Lowe's CompaniesLOW
Share
<0.1%
Value
$251,813
Shares
1,002
-23%
Philip Morris InternationalPM
Share
<0.1%
Value
$245,895
Shares
1,516
Held
AbbVieABBV
Share
<0.1%
Value
$237,097
Shares
1,024
New
CenterspaceCSR
Share
<0.1%
Value
$227,354
Shares
3,860
Held
ExxonMobil HoldingsXOM
Share
<0.1%
Value
$224,485
Shares
1,991
-3%
BoeingBA
Share
<0.1%
Value
$215,830
Shares
1,000
Held
Ishares TRIWP
Share
<0.1%
Value
$215,609
Shares
1,514
Held
McDonald'sMCD
Share
<0.1%
Value
$212,419
Shares
699
-11%
Coca-ColaKO
Share
<0.1%
Value
$211,229
Shares
3,185
Held
Vanguard Index FDSVO
Share
<0.1%
Value
$205,618
Shares
700
New

Company	Share of fund	Value	Shares	Change
TWO RDS Shared TR	24.8%	$71m	7,608,507	-3%
Invesco Exchange Traded FD TSPHQ	14.3%	$41m	560,123	Held
Ssga Active ETF TRRLY	8.3%	$24m	776,930	-3%
State STR Spdr S&P 500 ETF TSPY	6.8%	$20m	29,273	Held
Wisdomtree TRDXJ	6.3%	$18m	142,667	-5%
TWO RDS Shared TR	5.1%	$15m	715,906	-4%
Ishares TRSMLF	4.6%	$13m	178,490	Held
Invesco Exchange Traded FD TXMHQ	4.1%	$12m	113,058	Held
First TR Exchange-Traded FDLMBS	3.6%	$10m	205,968	-2%
Spdr Series TrustBIL	2.0%	$6m	62,008	Held
J P Morgan Exchange Traded FJPST	2.0%	$6m	111,746	Held
Ishares TRICSH	2.0%	$6m	111,382	Held
Berkshire Hathaway INC DELBRK-A	1.3%	$4m	5	Held
Schwab Strategic TRSCHA	1.0%	$3m	107,780	-12%
Pimco ETF TRMUNI	1.0%	$3m	57,322	Held
Spdr Series TrustSPMD	1.0%	$3m	48,934	-11%
Janus Detroit STR TRJAAA	1.0%	$3m	54,571	-16%
MicrosoftMSFT	0.9%	$3m	4,854	-5%
Spdr Series TrustSHM	0.8%	$2m	45,999	Held
Ishares TRMUB	0.7%	$2m	20,206	Held
Vaneck ETF TrustMOAT	0.7%	$2m	20,492	-9%
WalmartWMT	0.7%	$2m	18,262	Held
Ishares TRIGSB	0.6%	$2m	33,249	-24%
American ExpressAXP	0.6%	$2m	5,255	+4%
Berkshire HathawayBRK-B	0.6%	$2m	3,392	+11%
Costco WholesaleCOST	0.6%	$2m	1,785	+4%
Alkami TechnologyALKT	0.4%	$1m	46,310	Held
Vanguard Index FDSVNQ	0.3%	$977,006	10,687	Held
AppleAAPL	0.3%	$972,432	3,819	-23%
DeereDE	0.3%	$953,844	2,086	Held
Vanguard Index FDSVUG	0.3%	$724,691	1,511	Held
ChevronCVX	0.2%	$698,805	4,500	Held
Amazon.comAMZN	0.2%	$641,364	2,921	-17%
Automatic Data ProcessingADP	0.2%	$616,644	2,101	-14%
Select Sector Spdr TRXLK	0.2%	$613,891	2,178	Held
Goldman Sachs ETF TRGSLC	0.2%	$472,004	3,623	Held
Verizon CommunicationsVZ	0.2%	$455,542	10,365	Held
Vanguard Index FDSVTV	0.1%	$364,028	1,952	Held
VisaV	0.1%	$360,156	1,055	Held
Select Sector Spdr TRXLC	0.1%	$336,763	2,845	Held
Select Sector Spdr TRXLV	0.1%	$318,282	2,287	-7%
Select Sector Spdr TRXLF	0.1%	$304,312	5,649	Held
Cisco SystemsCSCO	0.1%	$303,785	4,440	-9%
Invesco Exch Traded FD TR IIIFLN	0.1%	$292,839	15,761	Held
AmgenAMGN	<0.1%	$268,372	951	Held
International Business MachinesIBM	<0.1%	$253,380	898	Held
Lowe's CompaniesLOW	<0.1%	$251,813	1,002	-23%
Philip Morris InternationalPM	<0.1%	$245,895	1,516	Held
AbbVieABBV	<0.1%	$237,097	1,024	New
CenterspaceCSR	<0.1%	$227,354	3,860	Held
ExxonMobil HoldingsXOM	<0.1%	$224,485	1,991	-3%
BoeingBA	<0.1%	$215,830	1,000	Held
Ishares TRIWP	<0.1%	$215,609	1,514	Held
McDonald'sMCD	<0.1%	$212,419	699	-11%
Coca-ColaKO	<0.1%	$211,229	3,185	Held
Vanguard Index FDSVO	<0.1%	$205,618	700	New

Over time and by industry

Value over time

Sep '25

Value is up 0.1% since 30 June 2025.

Where the money is

Technology1.8%

Everyday goods1.4%

Financial services1.3%

Industrials0.6%

Retail & consumer0.4%

Energy0.3%

Health care0.2%

Media & telecom0.2%

Real estate0.1%

Other93.7%

From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.