City State Bank
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 11, 2024), City State Bank reported 710 stock positions worth $226.5 million. Its top holding was Apple (AAPL) at 4.3% of the portfolio, followed by Vanguard Intermediate-Term B (BIV, 2.9%) and Vanguard Short-Term Bond ETF (BSV, 2.7%). Compared with Q4 2023, it opened 44 new positions, sold out of 13, added to 136 and reduced 96. The biggest buy was iShares Core U.S. Aggregate (AGG, shares +79%) and the biggest sale Apple (AAPL, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- NORWALK, IA
- CIK
- 0001910666
- Portfolio Value
- $226.5M (Q1 2024)
- SEC Filing
- 0001910666-24-000002 ↗ filed Apr 11, 2024
Holdings Value
Holdings 710 stocks · $226.5M
| AAPL Apple Inc. | 4.32% | 57,036 | $9.8M | Reduce -0.5% |
| BIV Vanguard Intermediate-Term B | 2.89% | 86,769 | $6.5M | Add +17.1% |
| BSV Vanguard Short-Term Bond ETF | 2.66% | 78,689 | $6.0M | Add +21.2% |
| VYM Vanguard High DVD Yield ETF | 2.47% | 46,280 | $5.6M | Add +7.8% |
| STIP iShares 0-5 Year Tips Bond E | 2.46% | 56,154 | $5.6M | Reduce -0.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.43% | 13,075 | $5.5M | Add +0.1% |
| MSFT Microsoft Corp. | 2.42% | 13,040 | $5.5M | Add +0.0% |
| VIG Vanguard Dividend Apprec ETF | 2.34% | 29,048 | $5.3M | Add +11.9% |
| AGG iShares Core U.S. Aggregate | 2.30% | 53,170 | $5.2M | Add +78.9% |
| BNDX Vanguard Total Intl Bond ETF | 2.28% | 104,953 | $5.2M | Add +12.5% |
| BND Vanguard Total Bond Market | 2.20% | 68,658 | $5.0M | Add +27.8% |
| VWOB Vanguard Emerg MKTS Gov BND | 2.16% | 76,624 | $4.9M | Add +34.7% |
| DFAT Dimensional US Target Value | 1.78% | 74,201 | $4.0M | Add +10.4% |
| EBND State Street SPDR Bloomberg | 1.71% | 188,954 | $3.9M | Add +26.1% |
| LNT Alliant Energy Corp. | 1.58% | 70,952 | $3.6M | Add +0.6% |
| NVDA Nvidia Corp. | 1.45% | 3,633 | $3.3M | Reduce -9.4% |
| VFH Vanguard Financials ETF | 1.32% | 29,215 | $3.0M | Reduce -1.4% |
| AMZN Amazon.com Inc. | 1.23% | 15,500 | $2.8M | Reduce -0.1% |
| VTV Vanguard Mrngstr Val ETF-Aui | 1.21% | 16,837 | $2.7M | Add +2.6% |
| LLY Eli Lilly & Co. | 1.11% | 3,245 | $2.5M | Reduce -5.9% |
| VMBS Vanguard Mortgage-Backed Sec | 1.03% | 51,159 | $2.3M | No change |
| VHT Vanguard Health Care ETF | 0.96% | 8,051 | $2.2M | Add +15.0% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.94% | 41,175 | $2.1M | Add +49.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.94% | 4,051 | $2.1M | Reduce -0.4% |
| GOOG Alphabet Inc. Class C | 0.91% | 13,487 | $2.1M | Add +41.3% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.90% | 5,916 | $2.0M | Add +3.2% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.89% | 8,094 | $2.0M | Add +2.5% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.87% | 10,259 | $2.0M | Reduce -0.7% |
| TIP iShares Tips Bond ETF | 0.86% | 18,074 | $1.9M | Reduce -0.7% |
| JNJ Johnson & Johnson | 0.85% | 12,197 | $1.9M | Reduce -0.6% |
| ABBV Abbvie Inc. | 0.80% | 9,990 | $1.8M | Add +0.8% |
| JPM JPMorgan Chase & Co. | 0.80% | 9,075 | $1.8M | Add +0.1% |
| VWO Vanguard Ftse Emerging Marke | 0.75% | 40,656 | $1.7M | Add +1.3% |
| COST Costco Wholesale Corp. | 0.74% | 2,300 | $1.7M | Add +1.6% |
| DFAE Dimensional Emerging Core Eq | 0.72% | 65,734 | $1.6M | Add +9.6% |
| MRK Merck & Co. Inc. | 0.71% | 12,154 | $1.6M | Add +0.1% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.68% | 6,761 | $1.5M | Add +0.3% |
| VGT Vanguard Info Tech ETF | 0.66% | 2,845 | $1.5M | Add +12.3% |
| CAT Caterpillar Inc. | 0.64% | 3,959 | $1.5M | Reduce -0.5% |
| VZ Verizon Communications Inc. | 0.64% | 34,322 | $1.4M | Reduce -2.9% |
| RTX RTX Corp. | 0.60% | 13,974 | $1.4M | Add +2.4% |
| DE Deere & Co. | 0.56% | 3,078 | $1.3M | Reduce -0.3% |
| MU Micron Technology Inc. | 0.53% | 10,128 | $1.2M | Add +9.1% |
| PFE Pfizer Inc. | 0.53% | 43,022 | $1.2M | Add +20.3% |
| LOW Lowe's Cos Inc. | 0.53% | 4,679 | $1.2M | No change |
| VEU Vanguard Ftse All-World Ex-U | 0.52% | 20,129 | $1.2M | Add +2.0% |
| ADP Automatic Data Processing | 0.52% | 4,714 | $1.2M | Reduce -1.2% |
| FITB Fifth Third Bancorp | 0.52% | 31,511 | $1.2M | Reduce -0.5% |
| IBB iShares Biotechnology ETF | 0.52% | 8,511 | $1.2M | Add +2.1% |
| SPIP SS SPDR P Tips ETF | 0.51% | 45,355 | $1.2M | Reduce -21.2% |
| KO The Coca-Cola Co. | 0.49% | 18,288 | $1.1M | Reduce -6.3% |
| DFAC Dimensional US Core Equity 2 | 0.48% | 34,357 | $1.1M | Add +1.1% |
| DFAI Dimensional International Co. | 0.48% | 36,303 | $1.1M | Add +19.7% |
| EMB iShares JP Morgan Usd Emergi | 0.43% | 10,771 | $966K | Add +1.2% |
| CVX Chevron Corp. | 0.42% | 6,046 | $954K | No change |
| PG The Procter & Gamble Co. | 0.41% | 5,776 | $937K | Add +29.4% |
| NEE Nextera Energy Inc. | 0.41% | 14,520 | $928K | Add +7.7% |
| AMAT Applied Materials Inc. | 0.41% | 4,487 | $925K | No change |
| IAGG iShares Intl Aggregate Bond | 0.39% | 17,550 | $877K | Add +251.0% |
| LMT Lockheed Martin Corp. | 0.38% | 1,904 | $866K | Reduce -1.0% |
| META Meta Platforms Inc. Class A | 0.37% | 1,730 | $840K | No change |
| VAW Vanguard Materials ETF | 0.37% | 4,109 | $840K | Reduce -5.0% |
| BABA Alibaba Group Holding-SP ADR | 0.37% | 11,561 | $837K | New |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.36% | 4,304 | $822K | Reduce -1.6% |
| TSM Taiwan Semiconductor-SP ADR | 0.35% | 5,845 | $795K | Add +535.3% |
| WMT Walmart Inc. | 0.35% | 13,143 | $791K | Add +4.2% |
| UNH Unitedhealth Group Inc. | 0.35% | 1,580 | $782K | Add +0.6% |
| VPU Vanguard Utilities ETF | 0.34% | 5,461 | $779K | Add +12.2% |
| VEA Vanguard Ftse Developed ETF | 0.34% | 15,253 | $765K | Reduce -0.4% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.33% | 6,910 | $753K | Add +16.9% |
| DFIV Dimensional International Va | 0.33% | 20,440 | $751K | Add +302.8% |
| VOO Vanguard S&P 500 ETF | 0.32% | 1,509 | $725K | Add +24.0% |
| PFF iShares Preferred & Income S | 0.32% | 22,415 | $722K | No change |
| XOM Exxon Mobil Corp. | 0.31% | 6,121 | $712K | Add +0.3% |
| PFG Principal Financial Group | 0.31% | 8,216 | $709K | Add +1.8% |
| MDT Medtronic PLC | 0.31% | 8,122 | $708K | Add +0.3% |
| AMGN Amgen Inc. | 0.31% | 2,475 | $704K | Reduce -2.5% |
| VIS Vanguard Industrials ETF | 0.31% | 2,852 | $696K | Reduce -1.7% |
| CB Chubb Ltd. | 0.30% | 2,654 | $688K | No change |
| UPS United Parcel Service Class B | 0.30% | 4,620 | $687K | Reduce -2.9% |
| HON Honeywell International Inc. | 0.30% | 3,312 | $680K | Add +3.1% |
| SPEM State Street SP PTF Em ETF | 0.30% | 18,616 | $674K | No change |
| QQQM Invesco Nasdaq 100 ETF | 0.30% | 3,660 | $669K | Add +3.7% |
| HD Home Depot Inc. | 0.29% | 1,684 | $646K | Add +0.3% |
| BMY Bristol-Myers Squibb Co. | 0.28% | 11,885 | $645K | Add +5.0% |
| TXN Texas Instruments Inc. | 0.28% | 3,617 | $630K | No change |
| V Visa Inc. Class A | 0.27% | 2,211 | $617K | Reduce -1.0% |
| UNP Union Pacific Corp. | 0.27% | 2,480 | $610K | Add +36.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.27% | 15,934 | $604K | No change |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.26% | 2,485 | $596K | No change |
| SBUX Starbucks Corp. | 0.25% | 6,314 | $577K | Add +17.3% |
| NTAP Netapp Inc. | 0.25% | 5,415 | $568K | No change |
| SNOW Snowflake Inc. | 0.24% | 3,399 | $549K | No change |
| IJH iShares Core S&P Midcap ETF | 0.24% | 8,910 | $541K | No change |
| IVV iShares Core S&P 500 ETF | 0.23% | 1,011 | $532K | No change |
| TRV The Travelers Cos Inc. | 0.23% | 2,296 | $528K | Reduce -0.9% |
| ABT Abbott Laboratories | 0.23% | 4,617 | $525K | Reduce -6.0% |
| MCD McDonald's Corp. | 0.23% | 1,844 | $520K | No change |
| DVN Devon Energy Corp. | 0.22% | 10,151 | $509K | Reduce -3.6% |
| SO The Southern Co. | 0.22% | 7,076 | $508K | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $4K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 95 | $4K | Add +17.3% |
Total filed on the 13F, all lines: $226.5M.
Portfolio Sells Q4 2023 → Q1 2024
| AAPL Apple Inc. | Reduce -0.5% | 4.32% | −1.21 |
| STIP iShares 0-5 Year Tips Bond E | Reduce -0.8% | 2.46% | −0.33 |
| AMD Advanced Micro Devices | Reduce -59.8% | 0.22% | −0.29 |
| SPIP SS SPDR P Tips ETF | Reduce -21.2% | 0.51% | −0.22 |
| PXD Pioneer Natural Resources Co. | Reduce -97.1% | 0.01% | −0.19 |
| FJUN FT Vest US Equity Buff ETF-J | Sold out | 0.00% | −0.13 |
| TIP iShares Tips Bond ETF | Reduce -0.7% | 0.86% | −0.12 |
| JNJ Johnson & Johnson | Reduce -0.6% | 0.85% | −0.11 |
| XJUN FT Vest U.S. Equity Enhance | Sold out | 0.00% | −0.10 |
| KO The Coca-Cola Co. | Reduce -6.3% | 0.49% | −0.08 |
| UPS United Parcel Service Class B | Reduce -2.9% | 0.30% | −0.07 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -0.7% | 0.87% | −0.06 |
| DE Deere & Co. | Reduce -0.3% | 0.56% | −0.06 |
| AMGN Amgen Inc. | Reduce -2.5% | 0.31% | −0.06 |
| LMT Lockheed Martin Corp. | Reduce -1.0% | 0.38% | −0.05 |
| VFH Vanguard Financials ETF | Reduce -1.4% | 1.32% | −0.05 |
| WEC WEC Energy Group Inc. | Reduce -4.7% | 0.22% | −0.05 |
| VAW Vanguard Materials ETF | Reduce -5.0% | 0.37% | −0.04 |
| ABT Abbott Laboratories | Reduce -6.0% | 0.23% | −0.04 |
| ADP Automatic Data Processing | Reduce -1.2% | 0.52% | −0.04 |
| GILD Gilead Sciences Inc. | Reduce -0.6% | 0.13% | −0.03 |
| PEY Invesco High Yield Equity Di | Reduce -6.1% | 0.14% | −0.03 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -0.4% | 0.94% | −0.03 |
| VZ Verizon Communications Inc. | Reduce -2.9% | 0.64% | −0.03 |
| VEA Vanguard Ftse Developed ETF | Reduce -0.4% | 0.34% | −0.03 |
| FITB Fifth Third Bancorp | Reduce -0.5% | 0.52% | −0.03 |
| IWF iShares Russell 1000 Growth | Reduce -13.1% | 0.17% | −0.03 |
| WTBA West Bancorporation | Reduce -8.1% | 0.06% | −0.03 |
| BDX Becton Dickinson and Co. | Reduce -0.9% | 0.22% | −0.03 |
| CASY Casey's General Stores Inc. | Reduce -13.6% | 0.20% | −0.03 |
| MS Morgan Stanley | Reduce -5.7% | 0.14% | −0.03 |
| ENB Enbridge Inc. | Reduce -1.4% | 0.16% | −0.02 |
| T AT&T Inc. | Reduce -3.7% | 0.17% | −0.02 |
| CSCO Cisco Systems Inc. | Reduce -5.0% | 0.10% | −0.02 |
| CASH Pathward Financial Inc. | Reduce -10.1% | 0.06% | −0.02 |
| DD Dupont DE Nemours Inc. | Reduce -3.6% | 0.12% | −0.02 |
| MO Altria Group Inc. | Reduce -3.7% | 0.22% | −0.02 |
| DOCU Docusign Inc. | Reduce -34.5% | 0.03% | −0.02 |
| V Visa Inc. Class A | Reduce -1.0% | 0.27% | −0.02 |
| PM Philip Morris International | Reduce -0.7% | 0.09% | −0.02 |
| CVS CVS Health Corp. | Reduce -0.5% | 0.12% | −0.01 |
| DVN Devon Energy Corp. | Reduce -3.6% | 0.22% | −0.01 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Reduce -5.4% | 0.12% | −0.01 |
| VIS Vanguard Industrials ETF | Reduce -1.7% | 0.31% | −0.01 |
| EFA iShares MSCI Eafe ETF | Reduce -8.1% | 0.08% | −0.01 |
| IXG iShares Global Financials Et | Reduce -19.7% | 0.05% | −0.01 |
| ETF MANAGERS TR | Sold out | 0.00% | −0.01 |
| CRM Salesforce Inc. | Reduce -8.7% | 0.14% | −0.01 |
| KIM Kimco Realty Corp. | Reduce -5.1% | 0.04% | −0.01 |
| ATLO Ames National Corp. | Reduce -76.9% | 0.00% | −0.01 |
Portfolio Buys Q4 2023 → Q1 2024
| AGG iShares Core U.S. Aggregate | Add +78.9% | 2.30% | +0.82 |
| BABA Alibaba Group Holding-SP ADR | New | 0.37% | +0.37 |
| VWOB Vanguard Emerg MKTS Gov BND | Add +34.7% | 2.16% | +0.34 |
| TSM Taiwan Semiconductor-SP ADR | Add +535.3% | 0.35% | +0.30 |
| IAGG iShares Intl Aggregate Bond | Add +251.0% | 0.39% | +0.26 |
| DFIV Dimensional International Va | Add +302.8% | 0.33% | +0.24 |
| GOOG Alphabet Inc. Class C | Add +41.3% | 0.91% | +0.23 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +49.9% | 0.94% | +0.22 |
| BND Vanguard Total Bond Market | Add +27.8% | 2.20% | +0.22 |
| BSV Vanguard Short-Term Bond ETF | Add +21.2% | 2.66% | +0.16 |
| DFCF Dimensional Core Fixed Inc. | New | 0.13% | +0.13 |
| MU Micron Technology Inc. | Add +9.1% | 0.53% | +0.13 |
| VIG Vanguard Dividend Apprec ETF | Add +11.9% | 2.34% | +0.13 |
| EBND State Street SPDR Bloomberg | Add +26.1% | 1.71% | +0.12 |
| DFSD Dimensional Short Duration | New | 0.10% | +0.10 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | New | 0.10% | +0.10 |
| DUHP Dimensional US High Profi Et | New | 0.10% | +0.10 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.1% | 2.43% | +0.09 |
| PG The Procter & Gamble Co. | Add +29.4% | 0.41% | +0.09 |
| VHT Vanguard Health Care ETF | Add +15.0% | 0.96% | +0.08 |
| BLV Vanguard Long-Term Bond ETF | Add +1135.0% | 0.08% | +0.07 |
| VYM Vanguard High DVD Yield ETF | Add +7.8% | 2.47% | +0.07 |
| HUM Humana Inc. | New | 0.07% | +0.07 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +769.2% | 0.06% | +0.06 |
| VOO Vanguard S&P 500 ETF | Add +24.0% | 0.32% | +0.05 |
| AEP American Electric Power | Add +44.8% | 0.21% | +0.05 |
| BIV Vanguard Intermediate-Term B | Add +17.1% | 2.89% | +0.05 |
| DFAI Dimensional International Co. | Add +19.7% | 0.48% | +0.05 |
| UNP Union Pacific Corp. | Add +36.6% | 0.27% | +0.05 |
| MRK Merck & Co. Inc. | Add +0.1% | 0.71% | +0.04 |
| VGT Vanguard Info Tech ETF | Add +12.3% | 0.66% | +0.04 |
| SRTA Strata Critical Medical Inc. | New | 0.04% | +0.04 |
| ABBV Abbvie Inc. | Add +0.8% | 0.80% | +0.03 |
| NEM Newmont Corp. | Add +1176.5% | 0.03% | +0.03 |
| JPM JPMorgan Chase & Co. | Add +0.1% | 0.80% | +0.03 |
| RTX RTX Corp. | Add +2.4% | 0.60% | +0.03 |
| GE General Electric | Add +6.3% | 0.12% | +0.03 |
| QQQ Invesco QQQ Trust Series 1 | Add +34.4% | 0.10% | +0.02 |
| KR Kroger Co. | Add +272.0% | 0.03% | +0.02 |
| DFAT Dimensional US Target Value | Add +10.4% | 1.78% | +0.02 |
| BTI British American Tob-SP ADR | Add +5016.7% | 0.02% | +0.02 |
| MGC Vngrd Mrngstr MG Cap ETF-Usd | Add +232.0% | 0.03% | +0.02 |
| CNYA iShares MSCI China A ETF | New | 0.02% | +0.02 |
| WMT Walmart Inc. | Add +4.2% | 0.35% | +0.02 |
| PSX Phillips 66 | Add +16.2% | 0.07% | +0.01 |
| GSK GSK PLC-Spon ADR | Add +10.8% | 0.12% | +0.01 |
| GOVT iShares US Treasury Bond ETF | Add +38.8% | 0.08% | +0.01 |
| COP Conocophillips | Add +11.4% | 0.16% | +0.01 |
| LNTH Lantheus Holdings Inc. | Add +44.6% | 0.05% | +0.01 |
| ROK Rockwell Automation Inc. | Add +37.7% | 0.09% | +0.01 |
Notes & Other Activity Q4 2023 → Q1 2024
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | Add +17.3% | 95 | $4K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 808 | $436.4M | AAPL, DFCF, MU, BIV, DFSD |
| Q1 2026 | 783 | $385.3M | DFCF, AAPL, BIV, DFSD, BSV |
| Q4 2025 | 766 | $365.1M | AAPL, BIV, DFCF, BSV, VIG |
| Q3 2025 | 742 | $346.2M | AAPL, BIV, DFCF, BSV, VIG |
| Q2 2025 | 748 | $319.0M | BIV, AAPL, DFCF, BSV, VIG |
| Q1 2025 | 752 | $303.4M | AAPL, BIV, DFCF, BSV, BND |
| Q4 2024 | 725 | $283.5M | AAPL, BIV, DFCF, BSV, BND |
| Q3 2024 | 738 | $274.4M | AAPL, BIV, DFCF, BSV, BND |
| Q2 2024Amended | 728 | $244.9M | AAPL, BIV, BSV, AGG, BNDX |
| Q1 2024 | 710 | $226.5M | AAPL, BIV, BSV, VYM, STIP |