<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 1999
Check here is Amendment [ ]; Amendment Number:
The Amendment (Check only one.): [ ] is a restatement.
[ ] adds new entries.
Institutional Investment Manager Filing this Report:
Name: First Interstate Bank
Address: 401 North 31st Street
Billings, MT 59116
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Richard C. Fellows
Title: Senior Vice President
Phone: 406-255-5262
Signature, Place, and Date of Signing:
/s/ Richard C. Fellows Billings, MT November 30, 2000
Report Type (Check only one.):
[ X ] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager: None
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
<PAGE> 2
13F SUMMARY PAGE
Report Summary:
Number of Other Included Mangers: 0
Form 13F Information Table Entry Total: 269
Form 13F Information Table Value Total: $449,754,455
List of Other Included Managers: NONE
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<TABLE>
<CAPTION>
13 F REPORT OF MANAGED ASSETS
Date Run : 11/21/2000 Processing Date : 11/21/2000 Time Printed : 9:23:22 AM
As Of Date : 12/31/1999
INVESTMENT DIRECTION VOTING AUTHORITY
NAME OF ISSUER TYPE CUSIP MARKET SHARES/PV SOLE SHARED OTHER SOLE SHARED OTHER
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AES Corp Com Equity 00130H105 969,881 12,975 0 0 12,975 0 0 12,975
AT&T Corporation Equity 001957109 3,597,373 70,797 31,565 10,206 29,026 42,795 426 27,576
Abbott Laboratories Equity 002824100 1,218,539 33,557 16,394 10,563 6,600 27,857 0 5,700
Air Products & Chemicals Equity 009158106 309,379 9,218 8,108 200 910 8,608 0 610
Albertson's Inc Equity 013104104 1,885,916 58,478 33,575 6,500 18,403 38,875 800 18,803
Alcoa Inc Equity 013817101 690,975 8,325 2,300 800 5,225 3,500 0 4,825
Allegheny Energy Inc Equity 017361106 1,256,634 46,650 38,350 6,400 1,900 44,850 0 1,800
Allstate Corporation Equity 020002101 568,260 23,616 12,150 3,428 8,038 16,178 0 7,438
Alltel Corporation Equity 020039103 1,307,786 15,816 5,941 782 9,093 6,723 0 9,093
America Online Equity 02364J104 410,180 5,406 0 0 5,406 400 0 5,006
American Express Company Equity 025816109 1,641,719 9,875 1,650 300 7,925 1,950 0 7,925
American Home Products
Corporation Equity 026609107 1,678,683 42,769 18,932 300 23,537 19,364 0 23,405
American International
Group Inc Equity 026874107 2,953,759 27,318 11,482 982 14,854 11,989 100 15,229
Amgen Inc Equity 031162100 678,706 11,300 400 800 10,100 400 800 10,100
Analog Devices Inc Equity 032654105 316,200 3,400 0 0 3,400 0 0 3,400
Anheuser-Busch Companies Inc Equity 035229103 908,972 12,825 0 0 12,825 350 0 12,475
Apache Corporation Equity 037411105 3,826,651 103,598 36,000 0 67,598 36,000 0 67,598
Applied Materials Inc Equity 038222105 278,713 2,200 0 0 2,200 0 0 2,200
Associates First Capital
Corporation Class A Equity 046008108 570,508 20,793 3,852 1,194 15,747 5,046 0 15,747
Altantic Richfield Company Equity 048825103 749,696 8,667 3,800 1,260 3,607 5,060 0 3,607
Automatic Data Processing Inc Equity 053015103 1,185,897 22,012 8,094 0 13,918 8,094 0 13,918
Autonation Inc Del Equity 05329W102 113,775 12,300 0 0 12,300 0 0 12,300
Autozone Inc Equity 053332102 361,092 11,175 0 0 11,175 0 0 11,175
Avalonbay Communities Inc Equity 053484101 292,685 8,453 0 0 8,453 0 0 8,453
BP Amoco PLC Sponsored ADR Equity 055622104 4,562,492 76,923 28,924 7,846 40,153 32,698 4,600 39,625
Bank America Corporation Equity 060505104 1,307,284 26,048 6,464 960 18,624 7,424 0 18,624
Bank Of New York Company Inc Equity 064057102 1,212,000 30,300 0 0 30,300 0 0 30,300
Bank One Corporation Equity 06423A103 1,076,576 33,643 27,507 5,036 1,100 32,693 0 950
Baxter International Inc Equity 071813109 1,317,806 20,980 3,055 0 17,925 3,055 0 17,925
Bell Atlantic Corporation Equity 077853109 2,064,560 33,536 13,845 3,480 16,211 17,213 112 16,211
Bellsouth Corporation Equity 079860102 1,563,069 33,390 20,240 2,738 10,412 22,690 288 10,412
</TABLE>
Page 1 of 9
<PAGE> 4
<TABLE>
<CAPTION>
13 F REPORT OF MANAGED ASSETS
Date Run : 11/21/2000 Processing Date : 11/21/2000 Time Printed : 9:23:22 AM
As Of Date : 12/31/1999
INVESTMENT DIRECTION VOTING AUTHORITY
NAME OF ISSUER TYPE CUSIP MARKET SHARES/PV SOLE SHARED OTHER SOLE SHARED OTHER
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Bemis Company Inc Equity 081437105 324,338 9,300 0 0 9,300 0 0 9,300
Bestfoods Inc Equity 08658U101 854,982 16,266 8,310 3,328 4,628 10,510 1,128 4,628
Big Sky Transportation Company Equity 089539209 44,775 35,820 0 0 35,820 0 0 35,820
Biomet Inc Equity 090613100 422,000 10,550 0 0 10,550 0 0 10,550
Black & Decker Equity 091797100 338,319 6,475 0 0 6,475 0 0 6,475
Black Hills Corporation Equity 092113109 313,110 14,112 13,445 600 67 14,045 0 67
Boeing Company Equity 097023105 328,226 7,921 400 306 7,215 700 306 6,915
Bradley Real Estate Inc Equity 104580105 233,663 13,400 0 0 13,400 0 0 13,400
Brinker International Inc Equity 109641100 241,250 10,000 0 0 10,000 0 0 10,000
Bristol Myers Squibb Company Equity 110122108 3,443,659 53,650 19,600 2,950 31,100 22,950 0 30,700
Burlington Northern Santa Fe
Corporation Equity 12189T104 229,114 9,448 2,250 1,900 5,298 5,673 0 3,775
Burlington Resources Inc Equity 122014103 321,500 9,724 1,246 250 8,228 3,274 0 6,450
Cit Group Inc Cl A Equity 125577106 304,200 14,400 0 0 14,400 0 0 14,400
Cvs Corporation Equity 126650100 267,163 6,700 1,000 0 5,700 1,000 0 5,700
Cardinal Health Inc Equity 14149Y108 305,107 6,373 124 0 6,249 124 0 6,249
Carnival Corporation Equity 143658102 661,725 13,840 8,400 1,600 3,840 10,000 0 3,840
Caterpillar Inc Equity 149123101 540,278 11,480 5,700 0 5,780 6,000 0 5,480
Centurytel Inc Equity 156700106 507,481 10,712 0 0 10,712 0 0 10,712
Chase Manhattan Corporation New Equity 16161A108 1,279,824 16,474 2,400 300 13,774 3,278 0 13,196
Chevron Corporation Equity 166751107 1,381,409 15,947 7,938 200 7,809 8,138 0 7,809
Chromatochem Inc Series B -
Market Price N/A Preferred
Stock 171990104 15 15,000 0 0 15,000 0 0 15,000
Cisco Systems Inc Equity 17275R102 5,407,884 50,482 10,839 4,350 35,293 15,939 0 34,543
Citigroup Inc Equity 172967101 3,206,264 57,576 22,242 5,862 29,472 27,904 200 29,472
Citrix Systems Inc Equity 177376100 731,850 5,950 0 0 5,950 0 0 5,950
Coastal Corporation Equity 190441105 399,558 11,275 0 0 11,275 0 0 11,275
Coca Cola Company Equity 191216100 1,230,240 21,120 5,410 445 15,265 5,915 0 15,205
Colgate Palmolive Company Equity 194162103 1,027,520 15,808 3,000 208 12,600 3,208 0 12,600
Compaq Computer Corporation Equity 204493100 249,652 9,225 400 0 8,825 400 0 8,825
Computer Associates
International Inc Equity 204912109 419,275 5,995 0 0 5,995 0 0 5,995
Computer Sciences Corp Common Equity 205363104 721,516 7,625 100 400 7,125 500 0 7,125
Conagra Inc Equity 205887102 1,133,241 49,950 28,800 4,175 16,975 32,975 0 16,975
</TABLE>
Page 2 of 9
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<TABLE>
<CAPTION>
13 F REPORT OF MANAGED ASSETS
Date Run : 11/21/2000 Processing Date : 11/21/2000 Time Printed : 9:23:23 AM
As Of Date : 12/31/1999
INVESTMENT DIRECTION VOTING AUTHORITY
NAME OF ISSUER TYPE CUSIP MARKET SHARES/PV SOLE SHARED OTHER SOLE SHARED OTHER
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Conoco Inc Cl A Equity 208251306 252,450 10,200 0 0 10,200 0 0 10,200
Conoco Inc Cl B Equity 208251405 415,214 16,692 1,775 400 14,517 2,175 0 14,517
Conseco Inc Equity 208464107 258,281 14,500 0 0 14,500 0 0 14,500
Consolidated Natural Gas
Company Equity 209615103 602,620 9,280 9,080 200 0 9,280 0 0
Corning Inc Equity 219350105 471,009 3,653 153 0 3,500 453 0 3,200
Costco Wholesale Corporation
New Equity 22160K105 990,063 10,850 2,700 0 8,150 2,700 0 8,150
Coventry Health Care Inc Equity 222862104 67,500 10,000 0 0 10,000 10,000 0 0
The Cadiz Corporation Equity 2352391 0 34,550 0 34,550 0 34,550 0 0
The Cadiz Corporation Equity 2352392 0 34,550 0 34,550 0 34,550 0 0
Elf Technologies Corp.
Certificate #251 Equity 2353592 52,150 35,000 0 35,000 0 0 0 35,000
Powder Horn Ranch Llc Equity 2353637 460,110 98 0 98 0 0 0 98
Winter Sports Inc Equity 2353748 0 36,278 0 0 36,278 0 0 36,278
Powderhorn Ranch 2 Llc 20%
Ownership Interest Equity 2353792 1,000,000 4 3 1 0 2 0 2
Powderhorn Ranch 2, Llc Equity 2353806 250,000 1 0 1 0 0 0 1
Dana Corporation Equity 235811106 206,898 6,911 5,661 0 1,250 5,661 0 1,250
Danaher Corporation Equity 235851102 221,950 4,600 4,600 0 0 4,600 0 0
Sundance Bankshares, Inc Equity 2362059 1,123,008 9,600 9,600 0 0 9,600 0 0
Sundance Bankshares, Inc Equity 2362060 736,974 6,300 0 6,300 0 6,300 0 0
Dayton Hudson Corporation Equity 239753106 859,219 11,700 600 0 11,100 1,800 0 9,900
Deere & Company Equity 244199105 545,874 12,585 4,200 2,300 6,085 6,500 0 6,085
Dell Computer Corporation Equity 247025109 637,500 12,500 0 320 12,180 0 0 12,500
Deluxe Corporation Equity 248019101 233,219 8,500 8,300 0 200 8,300 0 200
Dial Corporation Equity 25247D101 441,515 18,160 0 0 18,160 0 0 18,160
Disney Walt Co Hldg Equity 254687106 419,708 14,349 6,300 1,650 6,399 7,950 0 6,399
Du Pont E I De Nemours
& Company Equity 263534109 3,497,959 53,100 41,138 5,700 6,262 46,488 400 6,212
Duke Energy Corporation Equity 264399106 1,870,314 37,313 25,138 3,150 9,025 28,438 0 8,875
EMC Corporation Equity 268648102 2,675,533 24,490 0 0 24,490 150 0 24,340
EMC Energies Inc Equity 268652203 14 14,000 14,000 0 0 14,000 0 0
Eog Resources Inc Equity 26875P101 372,325 21,200 0 0 21,200 0 0 21,200
Epi Environmental Inc Equity 26899P103 84,000 14,000 0 0 14,000 0 0 14,000
Eaton Corporation Equity 278058102 443,521 6,107 0 0 6,107 0 0 6,107
</TABLE>
Page 3 of 9
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<TABLE>
<CAPTION>
13 F REPORT OF MANAGED ASSETS
Date Run : 11/21/2000 Processing Date : 11/21/2000 Time Printed : 9:23:23 AM
As Of Date : 12/31/1999
INVESTMENT DIRECTION VOTING AUTHORITY
NAME OF ISSUER TYPE CUSIP MARKET SHARES/PV SOLE SHARED OTHER SOLE SHARED OTHER
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
El Paso Energy Corporation Equity 283905107 624,804 16,098 9,000 1,800 5,298 13,152 0 2,946
Electronic Data Systems
Corporation (New) Equity 285661104 606,253 9,057 100 416 8,541 516 0 8,541
Emerson Electric Company Equity 291011104 1,137,115 19,819 9,399 1,400 9,020 10,899 0 8,920
Enron Corp Equity 293561106 1,234,912 27,829 16,094 170 11,565 17,064 0 10,765
Equity Office Properties Trust Equity 294741103 403,850 16,400 0 400 16,000 400 0 16,000
Equity Residential Property
Trust Sbi Equity 29476L107 439,681 10,300 0 0 10,300 0 0 10,300
Ericsson L M Telephone Co
Cl B Ser 10 Equity 294821400 472,950 7,200 4,000 0 3,200 4,000 0 3,200
Exodus Communications Inc Equity 302088109 288,641 3,250 0 0 3,250 0 0 3,250
Exxon Mobil Corporation Equity 30231G102 12,060,529 149,704 74,453 15,654 59,597 91,171 1,542 56,991
Fbl Finl Group Inc Cl A Equity 30239F106 10,612,000 530,600 0 0 530,600 0 0 530,600
Fbl Finl Group Inc Cl B Equity 30239F26 0 25,400 0 0 25,400 0 0 25,400
Fib Capital Trust 8 5/8%
Cum Trust Pfd Secs Preferred
Stock 30243L206 218,400 8,400 2,300 2,000 4,100 2,300 0 6,100
Fpl Group Inc Equity 302571104 329,656 7,700 7,000 0 700 7,200 0 500
Federal Home Loan Mortgage
Corporation Equity 313400301 1,571,182 33,385 8,800 0 24,585 9,400 0 23,985
Federal National Mortgage
Association Equity 313586109 2,559,313 40,990 18,500 2,750 19,740 20,850 400 19,740
Federal Signal Corporation Equity 313855108 272,661 16,975 0 0 16,975 0 0 16,975
Finova Group Inc Equity 317928109 441,088 12,425 0 0 12,425 0 0 12,425
First Data Corporation Equity 319963104 1,384,892 28,084 15,684 950 11,450 16,634 0 11,450
First Interstate Bancsystem
Inc Equity 320990104 85,799,400 2,144,985 476,664 1,284,908 383,413 2,064,949 0 80,036
First Security Corporation Equity 336294103 239,994 9,400 0 0 9,400 0 0 9,400
First Union Corporation Equity 337358105 487,475 14,800 7,500 300 7,000 7,800 0 7,000
Fleetboston Financial Corp Equity 339030108 890,469 25,579 4,974 1,600 19,005 4,974 0 20,605
Ford Motor Company Equity 345370100 1,047,964 19,657 5,176 3,426 11,055 9,152 0 10,505
Forest Laboratories Inc Equity 345838106 216,567 3,525 600 0 2,925 600 0 2,925
Fox Entertainment Group
Inc Cl A Equity 35138T107 311,095 12,475 0 0 12,475 0 0 12,475
Gte Corporation Equity 362320103 1,854,257 26,278 6,547 2,864 16,867 8,645 436 17,197
Gap Inc Equity 364760108 670,772 14,582 675 0 13,907 1,332 0 13,250
General Electric Company Equity 369604103 14,234,679 91,985 31,416 7,458 53,111 37,299 2,066 52,620
General Instrument
Corporation Del Equity 370120107 328,950 3,870 200 0 3,670 200 0 3,670
General Mills Inc Equity 370334104 382,993 10,713 463 0 10,250 463 0 10,250
General Motors Corporation Equity 370442105 668,289 9,194 1,540 200 7,454 1,740 0 7,454
</TABLE>
Page 4 of 9
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<TABLE>
<CAPTION>
13 F REPORT OF MANAGED ASSETS
Date Run : 11/21/2000 Processing Date : 11/21/2000 Time Printed : 9:23:24 AM
As Of Date : 12/31/1999
INVESTMENT DIRECTION VOTING AUTHORITY
NAME OF ISSUER TYPE CUSIP MARKET SHARES/PV SOLE SHARED OTHER SOLE SHARED OTHER
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
General Motors Corporation
Cl H New Equity 370442832 485,184 5,054 0 0 5,054 300 0 4,754
Genuine Parts Company Equity 372460105 1,017,933 41,025 25,125 4,700 11,200 29,825 0 11,200
Georgia Pacific Corporation Equity 373298108 399,656 7,875 0 0 7,875 0 0 7,875
Gillette Company Equity 375766102 441,942 10,730 4,122 3,408 3,200 7,682 348 2,700
Glacier Bancorp Inc New Equity 37637Q105 633,745 39,302 0 0 39,302 0 0 39,302
Grainger W W Inc Equity 384802104 439,875 9,200 3,700 0 5,500 3,700 0 5,500
Hrpt Properties Trust Sbi Equity 40426W101 108,000 12,000 0 0 12,000 0 0 12,000
Hartford Financial Services
Group Inc Equity 416515104 208,450 4,400 4,400 0 0 4,400 0 0
Heinz H J Company Equity 423074103 884,833 22,225 14,850 2,725 4,650 18,025 250 3,950
Hewlett Packard Company Equity 428236103 3,155,198 27,738 18,455 2,725 6,558 21,038 200 6,500
Home Depot Inc Equity 437076102 4,056,216 59,000 24,080 4,020 30,900 27,605 900 30,496
Honeywell International Inc Equity 438516106 1,490,357 25,835 17,434 4,352 4,049 21,479 0 4,356
Illinois Tool Works Inc Equity 452308109 985,940 14,593 5,050 1,825 7,718 6,875 0 7,718
Infinity Companies Inc. Equity 456628106 100 10,000 0 0 10,000 0 0 10,000
Intel Corporation Equity 458140100 5,625,236 68,340 20,850 4,315 43,175 25,705 150 42,485
International Business
Machines Corporation Equity 459200101 2,853,617 26,453 5,110 625 20,718 5,969 100 20,384
International Paper Company Equity 460146103 463,691 8,216 4,236 0 3,980 4,236 0 3,980
Interpublic Group Companies Inc Equity 460690100 1,700,570 29,479 17,704 3,700 8,075 21,404 0 8,075
I2 Technologies Inc Equity 465754109 302,250 1,550 0 0 1,550 0 0 1,550
Johnson & Johnson Equity 478160104 3,949,604 42,355 15,225 4,380 22,750 19,655 500 22,200
Johnson Controls Inc Equity 47836610 210,438 3,700 0 0 3,700 0 0 3,700
Johnson E L & Sons Inc Equity 479999104 236,748 181 181 0 0 181 0 0
Jore Corporation Equity 480815109 1,518,930 194,423 194,023 0 400 194,023 0 400
KLA-Tencor Corporation Equity 482480100 294,030 2,640 0 0 2,640 0 0 2,640
Kansas City Southern
Industries Inc Equity 485170104 492,525 6,600 0 0 6,600 0 0 6,600
Kimberly Clark Corporation Equity 494368103 1,577,044 24,100 13,000 2,900 8,200 15,800 0 8,300
Kohls Corp Equity 500255104 353,719 4,900 4,450 450 0 4,900 0 0
Lee Enterprises Inc Equity 523768109 226,437 7,090 0 7,090 0 7,090 0 0
Legato System Inc Com Equity 524651106 359,545 5,225 0 0 5,225 0 0 5,225
Level 3 Communications Inc Equity 52729N100 3,349,752 40,913 600 33,200 7,113 30,600 0 10,313
Lilly Eli & Co Equity 532457108 930,668 13,995 8,325 2,800 2,870 11,125 0 2,870
</TABLE>
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<TABLE>
<CAPTION>
13 F REPORT OF MANAGED ASSETS
Date Run : 11/21/2000 Processing Date : 11/21/2000 Time Printed : 9:23:24 AM
As Of Date : 12/31/1999
INVESTMENT DIRECTION VOTING AUTHORITY
NAME OF ISSUER TYPE CUSIP MARKET SHARES/PV SOLE SHARED OTHER SOLE SHARED OTHER
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Lincoln National Corporation Equity 534187109 283,000 7,075 7,075 0 0 7,075 0 0
Lucent Technologies Inc Equity 549463107 6,018,750 80,250 28,868 7,259 44,123 37,703 514 42,033
MBIA Inc Equity 55262C100 973,070 18,425 13,225 1,900 3,300 15,125 0 3,300
MBNA Corporation Equity 55262L100 1,131,011 41,505 11,500 505 29,500 12,005 0 29,500
McI Worldcom Inc Equity 55268B106 5,125,068 96,586 17,250 22,668 56,668 33,993 150 62,443
Mdu Resources Group Inc Equity 552690109 340,420 17,021 5,450 10,101 1,470 7,525 0 9,496
Marsh & McLennan Cos Inc Equity 571748102 1,269,008 13,262 800 0 12,462 800 0 12,462
McDonalds Corporation Equity 580135101 1,244,044 30,860 19,950 3,400 7,510 22,150 0 8,710
McGraw Hill Companies Inc Equity 580645109 446,165 7,240 0 0 7,240 0 0 7,240
Mead Corp Equity 582834107 575,547 13,250 0 0 13,250 0 0 13,250
Mediaone Group Inc Equity 58440J104 962,614 12,532 4,485 1,663 6,384 6,148 0 6,384
Medimmune Inc Equity 584699102 505,919 3,050 0 0 3,050 0 0 3,050
Medtronic Inc Equity 585055106 2,623,864 72,010 36,800 6,560 28,650 43,360 400 28,250
Mellon Financial Corporation Equity 58551A108 347,029 10,188 6,668 0 3,520 6,668 0 3,520
Men's Wearhouse Inc Equity 587118100 288,609 9,825 0 0 9,825 0 0 9,825
Merck & Company Inc Equity 589331107 4,701,580 69,977 31,832 5,540 32,605 38,072 100 31,805
Microsoft Corporation Equity 594918104 7,289,286 62,435 15,700 1,170 45,565 17,420 100 44,915
Minnesota Mining &
Manufacturing Company Equity 604059105 668,105 6,826 2,826 450 3,550 3,176 300 3,350
Montana Power Company Equity 612085100 679,866 18,852 12,282 3,600 2,970 16,182 0 2,670
Morgan J P & Company Inc Equity 616880100 339,102 2,678 182 396 2,100 578 0 2,100
Morgan Stanley Finance
Plc 9% Capital Uts Preferred
Stock 616906509 217,704 8,730 0 800 7,930 800 0 7,930
Morgan Stanley Dean Witter
& Company Equity 617446448 1,049,498 7,352 0 390 6,962 690 0 6,662
Motorola Inc Equity 620076109 2,602,644 17,675 9,300 1,975 6,400 11,075 0 6,600
Mylan Laboratories Inc Equity 628530107 224,169 8,900 0 0 8,900 0 0 8,900
Navistar International
Corporation New Equity 63934E108 239,700 5,100 0 0 5,100 0 0 5,100
Newell Rubbermaid Inc Equity 651229106 746,605 25,745 4,800 395 20,550 5,195 0 20,550
Nextel Communications Inc Cl A Equity 65332V103 433,125 4,200 0 200 4,000 200 0 4,000
Nokia Corporation Equity 654902204 3,458,231 18,100 0 0 18,100 0 0 18,100
Nortel Networks Corporation Equity 656569100 2,720,435 26,935 600 0 26,335 600 0 26,335
Nupec Res Inc Equity 670574102 100 10,000 10,000 0 0 10,000 0 0
Omnicom Group Inc Equity 681919106 415,000 4,150 2,900 400 850 3,300 0 850
</TABLE>
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<TABLE>
<CAPTION>
13 F REPORT OF MANAGED ASSETS
Date Run : 11/21/2000 Processing Date : 11/21/2000 Time Printed : 9:23:25 AM
As Of Date : 12/31/1999
INVESTMENT DIRECTION VOTING AUTHORITY
NAME OF ISSUER TYPE CUSIP MARKET SHARES/PV SOLE SHARED OTHER SOLE SHARED OTHER
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Oracle Corp Equity 68389X105 2,171,771 19,380 5,518 1,500 12,362 7,018 0 12,362
PPG Industries Inc Equity 693506107 753,565 12,045 9,270 2,775 0 11,845 200 0
Pyr Energy Corporation Equity 693677106 61,200 13,600 0 0 13,600 0 0 13,600
Pall Corporation Equity 696429307 293,789 13,625 0 0 13,625 0 0 13,625
Parker Hannifin Corporation Equity 701094104 436,156 8,500 0 0 8,500 0 0 8,500
Penney J C Inc Equity 708160106 257,194 12,900 0 12,100 800 12,100 0 800
Pepsico Inc Equity 713448108 2,030,576 57,605 23,310 4,970 29,325 27,280 400 29,925
Pharmacia & Upjohn Inc* Equity 71694110 517,500 11,500 0 0 11,500 0 0 11,500
Pfizer Inc Equity 717081103 1,333,052 41,096 20,915 1,856 18,325 23,771 0 17,325
Philip Morris Companies Inc Equity 718154107 929,660 40,420 8,200 970 31,250 10,170 0 30,250
Pitney Bowes Inc Equity 724479100 207,744 4,300 4,300 0 0 4,300 0 0
Proctor & Gamble Company Equity 742718109 3,201,635 29,222 18,047 900 10,275 19,197 100 9,925
Quaker Oats Company Equity 747402105 319,922 4,875 0 0 4,875 0 0 4,875
Quantum Corporation Dssg Equity 747906204 157,300 10,400 0 0 10,400 0 0 10,400
Quantum Corporation Hddg Equity 747906303 115,509 16,650 0 0 16,650 0 0 16,650
Ralston-Ralston Purina Group Equity 751277302 223,000 8,000 1,500 0 6,500 1,500 0 6,500
Reliastar Financial Corporation Equity 75952U103 348,769 8,900 0 0 8,900 0 0 8,900
Republic Services Inc Equity 760759100 380,475 26,700 0 0 26,700 0 0 26,700
Reuters Group Plc Adr Equity 76132M102 423,619 5,242 0 866 4,376 866 0 4,376
Royal Dutch Petro Ny Reg
Sh Par N 1.25 Gldr Equity 780257804 826,981 13,655 6,980 0 6,675 6,980 0 6,675
SBC Communications Inc Equity 78387G103 3,133,796 64,283 35,992 3,973 24,318 39,965 0 24,318
Sara Lee Corporation Equity 803111103 253,719 11,500 5,600 1,400 4,500 7,000 0 4,500
Schering Plough Corporation Equity 806605101 797,709 18,825 10,850 0 7,975 10,850 0 7,975
Schlumberger Limited Equity 806857108 1,059,640 18,880 15,330 1,900 1,650 17,480 0 1,400
Scottish Pwr Plc Adr
Spon Final Installment Equity 81013T705 563,244 20,116 5,768 5,780 8,568 17,860 0 2,256
Seagate Technology Equity 811804103 339,906 7,300 0 0 7,300 0 0 7,300
Sherwin-Williams Company Equity 824348106 1,062,600 50,600 31,500 6,700 12,400 38,200 0 12,400
Siebel Systems Inc Equity 826170102 548,520 6,530 0 0 6,530 0 0 6,530
Sigma-Aldrich Corp Equity 826552101 324,675 10,800 0 0 10,800 0 0 10,800
Skymall Inc Equity 830859104 138,650 18,800 0 0 18,800 0 0 18,800
Southwest Airlines Company Equity 844741108 565,375 35,062 0 0 35,062 0 0 35,062
</TABLE>
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<PAGE> 10
<TABLE>
<CAPTION>
13 F REPORT OF MANAGED ASSETS
Date Run : 11/21/2000 Processing Date : 11/21/2000 Time Printed : 9:23:25 AM
As Of Date : 12/31/1999
INVESTMENT DIRECTION VOTING AUTHORITY
NAME OF ISSUER TYPE CUSIP MARKET SHARES/PV SOLE SHARED OTHER SOLE SHARED OTHER
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Sprint Corporation Equity 852061100 504,844 7,500 5,400 400 1,700 5,800 0 1,700
Staples Inc (Retail & Delivery) Equity 855030102 209,056 10,075 0 0 10,075 0 0 10,075
State Street Corporation Equity 857477103 972,097 13,305 7,355 1,250 4,700 8,155 0 5,150
Sterling Financial Corporation Equity 859319105 118,255 10,283 0 0 10,283 0 0 10,283
Sun Microsystems Equity 866810104 1,854,628 23,950 2,800 0 21,150 2,800 0 21,150
Suncor Energy Inc Equity 867229106 258,850 6,200 0 0 6,200 0 0 6,200
Symbol Technologies Inc Equity 871508107 648,338 10,200 0 0 10,200 0 0 10,200
Sysco Corporation Equity 871829107 793,901 20,067 10,792 0 9,275 10,792 0 9,275
Tellabs Inc Equity 879664100 221,447 3,450 0 0 3,450 0 0 3,450
Tenet Healthcare Corporation Equity 88033G100 230,300 9,800 0 0 9,800 0 0 9,800
Teradyne Inc Equity 880770102 372,900 5,650 0 0 5,650 0 0 5,650
Texaco Inc Equity 881694103 2,070,032 38,113 11,046 1,800 25,267 14,646 200 23,267
Texas Instruments Inc Equity 882508104 886,534 9,175 1,500 0 7,675 1,500 0 7,675
Texas Utilities Company Equity 882848104 234,606 6,597 200 0 6,397 1,200 0 5,397
Textron Inc Equity 883203101 329,986 4,303 2,128 0 2,175 2,128 0 2,175
Tiffany & Co Equity 886547108 263,288 2,950 0 0 2,950 0 0 2,950
Time Warner Inc Equity 887315109 1,384,784 19,150 0 0 19,150 0 0 19,150
Timken Company Equity 887389104 223,791 10,950 10,000 750 200 10,750 0 200
Shea Ranch Closely Held Equity 88801233 12,617 12,617 12,617 0 0 12,617 0 0
Gendco Leasing Company Equity 88891785 982,414 103 103 0 0 103 0 0
General Distributing Company Equity 88891787 232,500 155 155 0 0 155 0 0
Total Fina Sa Spon Adr Equity 89151E109 297,221 4,292 0 0 4,292 0 0 4,292
Tyco International Ltd New Equity 902124106 1,112,631 28,529 8,511 1,768 18,250 8,511 0 20,018
Unisource Energy Corporation Equity 909205106 112,994 10,100 0 0 10,100 7,500 0 2,600
U S West Inc New Equity 91273H101 1,957,392 27,186 15,651 3,358 8,177 19,009 500 7,677
United Technologies Corporation Equity 913017109 1,180,400 18,160 7,565 0 10,595 7,565 0 10,595
Unumprovident Corporation Equity 91529Y106 418,704 13,059 0 0 13,059 0 0 13,059
Valassis Communications Inc Equity 918866104 310,538 7,350 0 0 7,350 0 0 7,350
Vale Creek Ranch Equity 918990102 374,922 186 0 186 0 0 186 0
Vastar Resources Inc Equity 922380100 268,450 4,550 0 0 4,550 0 0 4,550
Viad Corp Equity 92552R109 541,054 19,410 0 0 19,410 0 0 19,410
</TABLE>
Page 8 of 9
<PAGE> 11
<TABLE>
<CAPTION>
13 F REPORT OF MANAGED ASSETS
Date Run : 11/21/2000 Processing Date : 11/21/2000 Time Printed : 9:23:26 AM
As Of Date : 12/31/1999
INVESTMENT DIRECTION VOTING AUTHORITY
NAME OF ISSUER TYPE CUSIP MARKET SHARES/PV SOLE SHARED OTHER SOLE SHARED OTHER
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Vitesse Semiconductor
Corporation Equity 928497106 327,734 6,250 0 0 6,250 0 0 6,250
Vodafone Airtouch Plc Equity 92857T107 877,388 17,725 8,270 1,230 8,225 10,170 80 7,475
Wachovia Corporation Equity 929771103 519,180 7,635 5,440 600 1,595 6,040 0 1,595
Wal Mart Stores Inc Equity 931142103 3,191,017 46,163 22,327 4,730 19,106 26,957 600 18,606
Warner Lambert Company Equity 934488107 848,053 10,350 1,800 0 8,550 1,800 0 8,550
Wells Fargo & Company Equity 949746101 1,010,533 24,990 13,792 3,346 7,852 16,338 800 7,852
Westerfed Financial Corporation Equity 957550106 260,028 17,051 0 0 17,051 0 0 17,051
Western Farm Bur Svc Co Equity 95816100 0 11,250 0 0 11,250 0 0 11,250
Williams Sonoma Inc Equity 969904101 287,500 6,250 0 0 6,250 0 0 6,250
Winter Sports Inc Equity 97607210 156,940 22,420 20,834 0 1,586 0 0 22,420
Xerox Corporation Equity 984121103 344,306 15,176 1,000 0 14,176 1,600 0 13,576
Yahoo Inc Equity 984332106 778,838 1,800 0 0 1,800 0 0 1,800
Zanto Ranch Inc Class A Voting Equity 989990106 208,001 35,076 35,076 0 0 35,076 0 0
Zanto Ranch Inc Class B
Non-Voting Equity 989990205 119,860 26,000 26,000 0 0 26,000 0 0
First Interstate
Bancsystem Inc Equity 998000194 73,986,440 1,849,661 449,841 1,377,711 22,109 359,225 0 1,490,436
Sugarland Enterprises Inc Equity 998000483 940,580 27,153 799 26,354 0 408 0 26,745
Global Crossing Ltd Equity G3921A100 439,900 8,798 6,748 0 2,050 6,748 0 2,050
Rolling Acres Farms Equity MC000205 586,100 29,305 29,305 0 0 29,305 0 0
McGeorge Contracting Co, Inc Equity MCCC 1,036,062 571 571 0 0 571 0 0
Pine Bluff Sand And Gravel
Company Equity PBSG 3,366,450 2,494 2,494 0 0 2,494 0 0
Scott Land & Livestock
Limited Partnership Equity SLL 1,916,656 399 15 151 233 321 0 78
449,754,455
* * * END OF ASSET REPORT * * *
269 ASSETS REPORTED OF 18462 ASSETS ON FILE
</TABLE>
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