First Interstate BancSystem, Inc.
US ˙ NasdaqGS ˙ US32055Y2019

SecurityFIBK / First Interstate BancSystem, Inc.
InstitutionQUANTITATIVE MASTER SERIES LLC - Master Small Cap Index Series
Latest Disclosed Ownership152,621 shares
Latest Disclosed Value $ 4,398,537
QUANTITATIVE MASTER SERIES LLC - Master Small Cap Index Series reports 12.85% increase in ownership of FIBK / First Interstate BancSystem, Inc.

On August 26, 2025 - QUANTITATIVE MASTER SERIES LLC - Master Small Cap Index Series filed a NPORT-P form disclosing ownership of 152,621 shares of First Interstate BancSystem, Inc. (US:FIBK) valued at $4,398,537 USD as of June 30, 2025. The entity filed a previous NPORT-P on May 28, 2025 disclosing 135,240 shares of First Interstate BancSystem, Inc.. This represents a change in shares of 12.85% during the quarter. The current value of the position is $5,428,729 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2025-08-26 2025-06-30 NP First Interstate BancSystem EC US32055Y2019 152,621 17,381 12.85 4,399 13.53 0.0988
2025-05-28 2025-03-31 NP First Interstate BancSystem EC US32055Y2019 135,240 1,435 1.07 3,875 -10.82 0.0929
2025-02-25 2024-12-31 NP First Interstate BancSystem EC US32055Y2019 133,805 -21,428 -13.80 4,345 -8.78 0.0949
2024-11-26 2024-09-30 NP First Interstate BancSystem EC US32055Y2019 155,233 -2,484 -1.57 4,763 8.75 0.0901
2024-08-26 2024-06-30 NP First Interstate BancSystem EC US32055Y2019 157,717 13,478 9.34 4,380 11.60 0.0892
2024-05-28 2024-03-31 NP First Interstate BancSystem EC US32055Y2019 144,239 -6,309 -4.19 3,925 -15.23 0.0819
2024-02-26 2023-12-31 NP First Interstate BancSystem EC US32055Y2019 150,548 10,344 7.38 4,629 32.41 0.0988
2023-11-28 2023-09-30 NP First Interstate BancSystem EC US32055Y2019 140,204 -5,634 -3.86 3,497 0.58 0.0912
2023-08-25 2023-06-30 NP First Interstate BancSystem EC US32055Y2019 145,838 2,995 2.10 3,477 -18.50 0.0825
2023-05-26 2023-03-31 NP First Interstate BancSystem EC US32055Y2019 142,843 2,349 1.67 4,265 -21.45 0.1136
2023-02-24 2022-12-31 NP First Interstate BancSystem EC US32055Y2019 140,494 -5,170 -3.55 5,430 -7.61 0.1494
2022-11-25 2022-09-30 NP First Interstate BancSystem EC US32055Y2019 145,664 893 0.62 5,878 6.53 0.1684
2022-08-25 2022-06-30 NP First Interstate BancSystem EC US32055Y2019 144,771 11,192 8.38 5,517 12.34 0.1523
2022-05-26 2022-03-31 NP First Interstate BancSystem EC US32055Y2019 133,579 71,015 113.51 4,912 93.04 0.1144
2022-02-25 2021-12-31 NP First Interstate BancSystem EC US32055Y2019 62,564 1,138 1.85 2,544 2.87 0.0552
2021-11-24 2021-09-30 NP First Interstate BancSystem EC US32055Y2019 61,426 0 0.00 2,473 -3.74 0.0545
2021-08-26 2021-06-30 NP First Interstate BancSystem EC US32055Y2019 61,426 -297 -0.48 2,569 -9.57 0.0551
2021-05-27 2021-03-31 NP First Interstate BancSystem EC US32055Y2019 61,723 -2,485 -3.87 2,842 8.56 0.0644
2021-02-25 2020-12-31 NP First Interstate BancSystem EC US32055Y2019 64,208 -2,895 -4.31 2,618 22.46 0.0671
2020-11-25 2020-09-30 NP First Interstate BancSystem EC US32055Y2019 67,103 -3,400 -4.82 2,137 -2.06 0.0686
2020-08-27 2020-06-30 NP First Interstate BancSystem EC US32055Y2019 70,503 7,708 12.27 2,183 20.49 0.0713
2020-06-01 2020-03-31 NP First Interstate BancSystem EC US32055Y2019 62,795 2,037 3.35 1,811 -28.87 0.0740
2020-02-27 2019-12-31 NP First Interstate BancSystem EC 32055Y201 60,758 3,635 6.36 2,547 10.79 0.0766
2019-11-27 2019-09-30 NP First Interstate BancSystem EC US32055Y2019 57,123 57,123 2,299 0.0760
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.