FIBK

FIBK

FIBK

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 27, 2025	abrdn U.S. Small Cap Equity Fund	6.9%	3.0%	ABCB, ADMA, AHR, ATZ.TO, CHEF, CNMD, CORT, ELF, FIBK, FOLD, GPK, MMSI, REVG, SKWD, TMX.TO	Beauty, healthcare, infrastructure, Onshoring, Quality, small caps, tariffs, Trade Policy	President Trump's sweeping tariff policies initially weighed on investor sentiment, with China facing over 100% US duties. A 90-day pause was announced for most tariffs as part of trade negotiations, followed by US-China agreement on substantial reciprocal tariff reductions. The US doubled tariffs on global steel and aluminum imports to 50%, adding to trade policy uncertainty.		View
2024 Q3	Sep 30, 2024	Aristotle Small Cap Equity Fund	7.3%	9.4%	ACHC, ACIW, AER, ASC, BDC, BWIN, CHCT, DY, FIBK, HURN, ITRI, LUMN, MDVL, MMSI, MRCY, MTSI, NVRI, PETQ, PTEN	financials, healthcare, rates, small caps, technology, value	The fund focuses exclusively on small-cap investments with valuations remaining attractive relative to large caps. Small caps trade at 16.7x P/E versus 25.8x for large caps, near multi-decade lows. The manager believes small caps are better positioned to benefit from reshoring, M&A activity, and infrastructure spending.		View
2023 Q3	Sep 30, 2023	Mairs & Power – Small Cap Fund	0.0%	9.0%	AIR, AZEK, CASY, CFR, CLFD, DCI, FIBK, GBCI, JAMF, NVT, TTC, WK	AI, Banking, financials, industrials, small cap, technology, value	The fund views artificial intelligence as crucial for creating workforce efficiencies amid changing labor market dynamics. They see investment opportunities in technology companies utilizing AI to create efficiencies in the workforce. The fund favors companies likely to benefit from recent advancements in AI.		View
2023 Q2	Jul 25, 2023	Diamond Hill Small Cap Fund	8.5%	12.2%	ALGT, ASH, BKU, CALM, COOP, FIBK, GRBK, HBI, OZK, PRG, TKO.TO, UFPT, WNS	Banking, financials, healthcare, Homebuilders, small caps, technology, value	The fund weathered the banking crisis well and sees opportunities to deploy capital opportunistically. Bank OZK performed strongly due to its conservative approach and positioning during the crisis. First Interstate BancSystem struggled with the challenging banking environment.	UFPT GRBK	View
2023 Q2	Jun 30, 2023	Mairs & Power – Small Cap Fund	0.0%	9.0%	ALTR, ASB, AZEK, CFR, CLFD, ENTG, ENV, FIBK, GBCI, JAMF, LFUS, NVT, THRM, TTC	AI, Banking, healthcare, industrials, small caps, technology, Valuations	The manager discusses artificial intelligence as a key driver of Technology sector performance, noting investor excitement over AI has boosted large tech names like Alphabet, Amazon, Microsoft, and Nvidia. They maintain a favorable long-term view on Technology given growth in AI, automation, and cloud computing but are cautious near-term due to over-extended valuations.		View
2023 Q1	Mar 31, 2023	Diamond Hill Small Cap Fund	8.5%	12.2%	BOKF, BRBR, CIVI, CRI, ESAB, FIBK, GRBK, ITGR, LOB, LYV, MYFW, OZK, RRR, SAMG, TRS, WBS, WCC	energy, financials, industrials, Regional Banks, small caps, value	Banking sector faced significant stress in Q1 with SVB and Signature Bank failures spreading liquidity fears across regional banks. The fund maintains exposure to several regional banks despite sector weakness, believing the market overreacted and that their holdings are differentiated from failed institutions.	SAMG ESAB WCC	View
2023 Q1	Mar 31, 2023	Diamond Hill Small-Mid Cap Strategy	8.4%	9.2%	AAP, ADM, AIG, ALGT, ALK, ALL, ARW, ASH, BHF, BKU, BOKF, BR, BRBR, BRO, BSX, BWA, CALM, CHKP, CIEN, CIVI, COOP, CTRA, CTSH, CUBE, DEI, ENOV, ERII, ESAB, ESGR, FA, FCX, FIBK, FIS, FWONA, GTES, HBI, HIG, ITGR, JLL, KEX, KMX, L, LANC, LOB, MTN, NVR, NXPI, OZK, PH, POST, PRG, RHP, RNR, RRR, RRX, RYN, SANM, SF, SRCL, SSNC, ST, UDR, UGI, VFC, WBS, WCC, WNS, WTW, WWW, WY	financials, industrials, mid cap, small cap, value			View
2023 Q4	Jan 2, 2024	Diamond Hill Small-Mid Cap Strategy	8.4%	9.2%	BRBR, CIVI, CTRA, CUBE, ERII, FBIN, FHN, FIBK, GDDY, HBI, LOB, NSP, NVST, RRR, SXT, WBS, WCC, WNS	energy, financials, mid cap, real estate, Regional Banks, small cap, technology, value	Regional banks performed well in Q4 as investors interpreted Fed signals as indicating an end to rate hikes and potential pivot to cuts in 2024. The fund initiated a position in First Horizon Corporation, capitalizing on the failed merger with Toronto Dominion, and holds Live Oak Bancshares and Webster Financial which both contributed positively to performance.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
No pitches found.

BSD Shareholders of FIBK

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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