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First Interstate BancSystem
FIBK

238 hedge funds and large institutions have $2.79B invested in First Interstate BancSystem in 2025 Q3 according to their latest regulatory filings, with 35 funds opening new positions, 80 increasing their positions, 84 reducing their positions, and 26 closing their positions.

New
Increased
Maintained
Reduced
Closed

35% more first-time investments, than exits

New positions opened: 35 | Existing positions closed: 26

13% more capital invested

Capital invested by funds: $2.48B → $2.79B (+$314M)

2% more funds holding

Funds holding: 233 → 238 (+5)

1.56% more ownership

Funds ownership: 82.05% → 83.61% (+1.6%)

0% more funds holding in top 10

Funds holding in top 10: 3 → 3 (0)

5% less repeat investments, than reductions

Existing positions increased: 80 | Existing positions reduced: 84

89% less call options, than puts

Call options by funds: $624K | Put options by funds: $5.82M

Holders
238
Holders Change
+5
Holders Change %
+2.15%
% of All Funds
3.12%
Holding in Top 10
3
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.04%
New
35
Increased
80
Reduced
84
Closed
26
Calls
$624K
Puts
$5.82M
Net Calls
-$5.19M
Net Calls Change
-$616K

Top Buyers

1
ACL
Azora Capital LP
Florida
+$37.3M
2
UBS Group
UBS Group
Switzerland
+$31.9M
3
Wellington Management Group
Wellington Management Group
Massachusetts
+$31.2M
4
CRM
Cramer Rosenthal McGlynn
Connecticut
+$28.7M
5
NRCM
North Reef Capital Management
California
+$26.4M

Top Sellers

1
Franklin Resources
Franklin Resources
California
-$38.4M
2
Millennium Management
Millennium Management
New York
-$13.9M
3
JP Morgan Chase
JP Morgan Chase
New York
-$11.2M
4
Fidelity Investments
Fidelity Investments
Massachusetts
-$10.5M
5
Voloridge Investment Management
Voloridge Investment Management
Florida
-$9.99M
Name Holding Trade Value Shares
Change 		Change in
Stake
Vanguard Group
1
Vanguard Group
Pennsylvania
$282M +$2M +64,371 +0.7%
BlackRock
2
BlackRock
New York
$236M -$5.57M -178,956 -2%
Wellington Management Group
3
Wellington Management Group
Massachusetts
$189M +$31.2M +1,003,021 +20%
Dimensional Fund Advisors
4
Dimensional Fund Advisors
Texas
$175M +$2.45M +78,835 +1%
Fidelity Investments
5
Fidelity Investments
Massachusetts
$155M -$10.5M -336,340 -6%
FIB
6
First Interstate Bank
Montana
$150M -$7.15M -229,773 -5%
Franklin Resources
7
Franklin Resources
California
$136M -$38.4M -1,233,306 -22%
State Street
8
State Street
Massachusetts
$135M +$5.52M +177,451 +4%
HAM
9
HoldCo Asset Management
Florida
$126M +$11.8M +380,000 +11%
Geode Capital Management
10
Geode Capital Management
Massachusetts
$72.2M +$2.69M +86,481 +4%
Macquarie Group
11
Macquarie Group
Australia
$69.5M -$6.53M -210,049 -9%
Victory Capital Management
12
Victory Capital Management
Texas
$63.4M -$1.08M -34,874 -2%
Bank of America
13
Bank of America
North Carolina
$58.9M +$13M +416,328 +29%
JP Morgan Chase
14
JP Morgan Chase
New York
$56.9M -$11.2M -361,588 -17%
UBS Group
15
UBS Group
Switzerland
$55.9M +$31.9M +1,024,683 +140%
Jennison Associates
16
Jennison Associates
New York
$51.9M +$2.29M +73,737 +5%
Massachusetts Financial Services
17
Massachusetts Financial Services
Massachusetts
$44.3M -$1.54M -49,549 -3%
Balyasny Asset Management
18
Balyasny Asset Management
Illinois
$43M +$5.98M +192,123 +17%
ACL
19
Azora Capital LP
Florida
$40.7M +$37.3M +1,197,843 +1,539%
Morgan Stanley
20
Morgan Stanley
New York
$39.9M -$273K -8,782 -0.7%
Charles Schwab
21
Charles Schwab
California
$37.3M +$1.29M +41,593 +4%
Brown Advisory
22
Brown Advisory
Maryland
$29.6M -$824K -26,474 -3%
CRM
23
Cramer Rosenthal McGlynn
Connecticut
$29.4M +$28.7M +921,900 New
Northern Trust
24
Northern Trust
Illinois
$27.9M +$642K +20,652 +2%
NRCM
25
North Reef Capital Management
California
$27.1M +$26.4M +850,000 New
1
2 3 4 5

FIBK Hedge Fund Activity: Q3 2025 in Review

238 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in First Interstate BancSystem (FIBK) for Q3 2025, worth a combined $2.79B — up 13% from $2.48B a quarter earlier.

Buyers outnumbered sellers: 35 funds opened new FIBK positions and 26 closed out — a net gain of 9 holders — while 80 added to existing stakes and 84 trimmed.

The largest buyer was Azora Capital LP, adding an estimated $37.3M. The largest seller was Franklin Resources, cutting an estimated $38.4M.

  • 238 institutional investors held First Interstate BancSystem (FIBK) as of Q3 2025, up from 233 in Q2 2025.
  • Funds reported $2.79B of First Interstate BancSystem stock for Q3 2025, up 13% quarter-over-quarter.
  • 35 funds opened new First Interstate BancSystem positions in Q3 2025 and 26 closed out, a net change of +9 holders.
  • The largest First Interstate BancSystem buyer in Q3 2025 was Azora Capital LP, an estimated $37.3M added.
  • The largest First Interstate BancSystem seller in Q3 2025 was Franklin Resources, an estimated $38.4M sold.

Based on aggregated 13F filings for Q3 2025.