City State Bank
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 13, 2025), City State Bank reported 725 stock positions worth $283.5 million. Its top holding was Apple (AAPL) at 5.2% of the portfolio, followed by Vanguard Intermediate-Term B (BIV, 3.8%) and Dimensional Core Fixed (DFCF, 3.3%). Compared with Q3 2024, it opened 26 new positions, sold out of 39, added to 127 and reduced 164. The biggest buy was Dimensional Short Duration (DFSD, shares +131%) and the biggest sale State Street SPDR Bloomberg (EBND, shares −10%).
- Most Recent 13F
- Q2 2026
- Location
- NORWALK, IA
- CIK
- 0001910666
- Portfolio Value
- $283.5M (Q4 2024)
- SEC Filing
- 0001910666-25-000001 ↗ filed Jan 13, 2025
Holdings Value
Holdings 725 stocks · $283.5M
| AAPL Apple Inc. | 5.23% | 59,173 | $14.8M | Add +6.5% |
| BIV Vanguard Intermediate-Term B | 3.79% | 143,845 | $10.7M | Add +9.6% |
| DFCF Dimensional Core Fixed Inc. | 3.33% | 229,052 | $9.5M | Add +30.8% |
| BSV Vanguard Short-Term Bond ETF | 2.90% | 106,394 | $8.2M | Add +12.4% |
| BND Vanguard Total Bond Market | 2.49% | 98,258 | $7.1M | Add +4.1% |
| BNDX Vanguard Total Intl Bond ETF | 2.42% | 139,817 | $6.9M | Add +7.4% |
| VIG Vanguard Dividend Apprec ETF | 2.36% | 34,109 | $6.7M | Add +5.2% |
| AGG iShares Core U.S. Aggregate | 2.33% | 68,202 | $6.6M | Add +0.4% |
| VYM Vanguard High DVD Yield ETF | 2.31% | 51,403 | $6.6M | Add +4.3% |
| VWOB Vanguard Emerg MKTS Gov BND | 2.26% | 101,634 | $6.4M | Add +3.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.12% | 13,229 | $6.0M | Add +11.1% |
| STIP iShares 0-5 Year Tips Bond E | 2.09% | 58,973 | $5.9M | Add +2.1% |
| MSFT Microsoft Corp. | 2.09% | 14,024 | $5.9M | Add +18.6% |
| DFAT Dimensional US Target Value | 1.82% | 92,724 | $5.2M | Add +5.8% |
| DFSD Dimensional Short Duration | 1.82% | 109,964 | $5.2M | Add +130.9% |
| NVDA Nvidia Corp. | 1.69% | 35,775 | $4.8M | Add +1.4% |
| LNT Alliant Energy Corp. | 1.49% | 71,547 | $4.2M | Add +0.4% |
| IGIB iShares 5-10Y Inv Grade Corp. | 1.49% | 82,015 | $4.2M | Add +3.4% |
| EBND State Street SPDR Bloomberg | 1.34% | 195,184 | $3.8M | Reduce -9.5% |
| AMZN Amazon.com Inc. | 1.29% | 16,663 | $3.7M | Add +1.9% |
| VFH Vanguard Financials ETF | 1.16% | 27,814 | $3.3M | Reduce -2.3% |
| VUG Vanguard Mrngstar GR ETF-Sui | 1.16% | 7,992 | $3.3M | Add +11.1% |
| VTV Vanguard Mrngstr Val ETF-Aui | 1.14% | 19,038 | $3.2M | Add +4.8% |
| GOOG Alphabet Inc. Class C | 1.06% | 15,744 | $3.0M | Add +5.7% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.96% | 10,342 | $2.7M | Add +4.8% |
| LLY Eli Lilly & Co. | 0.89% | 3,286 | $2.5M | Add +5.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.86% | 4,156 | $2.4M | Reduce -1.3% |
| VMBS Vanguard Mortgage-Backed Sec | 0.73% | 45,867 | $2.1M | Add +2.3% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.73% | 8,634 | $2.1M | Add +3.7% |
| JPM JPMorgan Chase & Co. | 0.73% | 8,633 | $2.1M | Reduce -0.9% |
| COST Costco Wholesale Corp. | 0.73% | 2,253 | $2.1M | Add +0.7% |
| VHT Vanguard Health Care ETF | 0.71% | 7,952 | $2.0M | Reduce -1.2% |
| IAGG iShares Intl Aggregate Bond | 0.64% | 36,475 | $1.8M | Add +1.4% |
| HD Home Depot Inc. | 0.63% | 4,619 | $1.8M | Add +0.9% |
| VWO Vanguard Ftse Emerging Marke | 0.62% | 39,847 | $1.8M | Reduce -1.8% |
| JNJ Johnson & Johnson | 0.62% | 12,111 | $1.8M | Reduce -10.3% |
| DFAE Dimensional Emerging Core Eq | 0.62% | 68,979 | $1.7M | Add +1.6% |
| DFAC Dimensional US Core Equity 2 | 0.61% | 50,328 | $1.7M | Add +11.9% |
| VGT Vanguard Info Tech ETF | 0.60% | 2,745 | $1.7M | No change |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.59% | 8,490 | $1.7M | Reduce -2.6% |
| ABBV Abbvie Inc. | 0.58% | 9,326 | $1.7M | Reduce -2.4% |
| TIP iShares Tips Bond ETF | 0.58% | 15,495 | $1.7M | Reduce -0.5% |
| CAT Caterpillar Inc. | 0.58% | 4,550 | $1.7M | Add +15.6% |
| RTX RTX Corp. | 0.55% | 13,515 | $1.6M | Reduce -2.2% |
| DFIV Dimensional International Va | 0.51% | 40,993 | $1.5M | Add +1.6% |
| MRK Merck & Co. Inc. | 0.50% | 14,327 | $1.4M | Add +19.4% |
| MU Micron Technology Inc. | 0.49% | 16,620 | $1.4M | Add +56.2% |
| DFAI Dimensional International Co. | 0.44% | 42,707 | $1.2M | Add +0.3% |
| DE Deere & Co. | 0.44% | 2,943 | $1.2M | Add +2.9% |
| ADP Automatic Data Processing | 0.43% | 4,142 | $1.2M | Reduce -0.4% |
| WMT Walmart Inc. | 0.42% | 13,148 | $1.2M | Add +3.2% |
| FITB Fifth Third Bancorp | 0.42% | 27,891 | $1.2M | Reduce -4.2% |
| TSLA Tesla Inc. | 0.41% | 2,866 | $1.2M | Add +4.6% |
| IBB iShares Biotechnology ETF | 0.39% | 8,425 | $1.1M | Reduce -1.1% |
| META Meta Platforms Inc. Class A | 0.38% | 1,845 | $1.1M | Add +3.0% |
| SPIP SS SPDR P Tips ETF | 0.38% | 42,675 | $1.1M | Reduce -6.3% |
| KO The Coca-Cola Co. | 0.38% | 17,209 | $1.1M | Reduce -1.4% |
| VEU Vanguard Ftse All-World Ex-U | 0.38% | 18,601 | $1.1M | Reduce -0.4% |
| DFGP Dimensional GLBL Core PL Fix | 0.38% | 20,175 | $1.1M | Add +129.3% |
| TSM Taiwan Semiconductor-SP ADR | 0.37% | 5,244 | $1.0M | Reduce -1.0% |
| VZ Verizon Communications Inc. | 0.36% | 25,755 | $1.0M | Reduce -3.9% |
| PG The Procter & Gamble Co. | 0.33% | 5,648 | $947K | Reduce -0.2% |
| LMT Lockheed Martin Corp. | 0.33% | 1,927 | $936K | Add +0.3% |
| NEE Nextera Energy Inc. | 0.33% | 12,937 | $927K | Reduce -2.3% |
| EMB iShares JP Morgan Usd Emergi | 0.33% | 10,395 | $926K | No change |
| QQQM Invesco Nasdaq 100 ETF | 0.32% | 4,345 | $914K | Add +1.8% |
| VEA Vanguard Ftse Developed ETF | 0.32% | 18,947 | $906K | Reduce -6.5% |
| VPU Vanguard Utilities ETF | 0.32% | 5,476 | $895K | Add +1.9% |
| CVX Chevron Corp. | 0.31% | 6,162 | $893K | Reduce -0.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.31% | 4,001 | $880K | Add +6.7% |
| VIS Vanguard Industrials ETF | 0.31% | 3,441 | $875K | Add +13.5% |
| VOO Vanguard S&P 500 ETF | 0.29% | 1,543 | $831K | Add +0.1% |
| SPEM State Street SP PTF Em ETF | 0.29% | 21,271 | $816K | Add +1.6% |
| CRM Salesforce Inc. | 0.29% | 2,433 | $813K | No change |
| UNH Unitedhealth Group Inc. | 0.28% | 1,569 | $794K | No change |
| BLV Vanguard Long-Term Bond ETF | 0.27% | 11,309 | $774K | Add +8.5% |
| VAW Vanguard Materials ETF | 0.27% | 3,999 | $751K | Add +10.2% |
| HON Honeywell International Inc. | 0.26% | 3,312 | $748K | No change |
| LOW Lowe's Cos Inc. | 0.26% | 3,026 | $747K | No change |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.26% | 6,910 | $738K | No change |
| CB Chubb Ltd. | 0.26% | 2,629 | $726K | Reduce -0.6% |
| MCD McDonald's Corp. | 0.26% | 2,505 | $726K | Add +10.3% |
| CASY Casey's General Stores Inc. | 0.25% | 1,813 | $718K | Add +1.1% |
| AMAT Applied Materials Inc. | 0.25% | 4,387 | $713K | Reduce -2.2% |
| PFG Principal Financial Group | 0.24% | 8,857 | $686K | Reduce -5.8% |
| SNOW Snowflake Inc. | 0.24% | 4,414 | $682K | No change |
| MRVL Marvell Technology Inc. | 0.24% | 6,163 | $681K | No change |
| XOM Exxon Mobil Corp. | 0.24% | 6,326 | $680K | Add +2.0% |
| DFLV Dim US Large Cap Value ETF | 0.24% | 22,660 | $680K | Add +41.8% |
| PFF iShares Preferred & Income S | 0.24% | 21,465 | $675K | Reduce -1.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.24% | 15,268 | $671K | Reduce -6.6% |
| UNP Union Pacific Corp. | 0.24% | 2,923 | $667K | Reduce -0.1% |
| GS Goldman Sachs Group Inc. | 0.23% | 1,150 | $659K | Reduce -3.7% |
| SBUX Starbucks Corp. | 0.23% | 7,160 | $653K | Reduce -1.4% |
| V Visa Inc. Class A | 0.23% | 2,067 | $653K | Reduce -4.8% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.23% | 1,868 | $639K | Add +0.8% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.22% | 2,305 | $622K | Add +2.0% |
| AMGN Amgen Inc. | 0.22% | 2,375 | $619K | Reduce -0.6% |
| PFE Pfizer Inc. | 0.21% | 22,566 | $599K | Reduce -46.4% |
| SO The Southern Co. | 0.21% | 7,187 | $592K | Add +2.4% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $3K (not counted above)
Total filed on the 13F, all lines: $283.5M.
Portfolio Sells Q3 2024 → Q4 2024
| EBND State Street SPDR Bloomberg | Reduce -9.5% | 1.34% | −0.33 |
| PFE Pfizer Inc. | Reduce -46.4% | 0.21% | −0.23 |
| JNJ Johnson & Johnson | Reduce -10.3% | 0.62% | −0.18 |
| BABA Alibaba Group Holding-SP ADR | Reduce -23.5% | 0.17% | −0.12 |
| VHT Vanguard Health Care ETF | Reduce -1.2% | 0.71% | −0.12 |
| ABBV Abbvie Inc. | Reduce -2.4% | 0.58% | −0.10 |
| VWO Vanguard Ftse Emerging Marke | Reduce -1.8% | 0.62% | −0.09 |
| NEE Nextera Energy Inc. | Reduce -2.3% | 0.33% | −0.08 |
| KO The Coca-Cola Co. | Reduce -1.4% | 0.38% | −0.08 |
| AMAT Applied Materials Inc. | Reduce -2.2% | 0.25% | −0.08 |
| VZ Verizon Communications Inc. | Reduce -3.9% | 0.36% | −0.08 |
| NKE Nike Inc. Class B | Reduce -29.5% | 0.10% | −0.07 |
| VEA Vanguard Ftse Developed ETF | Reduce -6.5% | 0.32% | −0.07 |
| AMGN Amgen Inc. | Reduce -0.6% | 0.22% | −0.06 |
| IBB iShares Biotechnology ETF | Reduce -1.1% | 0.39% | −0.06 |
| RTX RTX Corp. | Reduce -2.2% | 0.55% | −0.06 |
| SPIP SS SPDR P Tips ETF | Reduce -6.3% | 0.38% | −0.06 |
| SPYG SS SPDR P S&P 500 Growth ETF | Sold out | 0.00% | −0.05 |
| HUM Humana Inc. | Reduce -73.3% | 0.01% | −0.05 |
| XLK SS Technology Select Sector | Reduce -84.8% | 0.01% | −0.05 |
| PFG Principal Financial Group | Reduce -5.8% | 0.24% | −0.05 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -0.4% | 0.38% | −0.05 |
| TIP iShares Tips Bond ETF | Reduce -0.5% | 0.58% | −0.04 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -2.6% | 0.59% | −0.04 |
| WYNN WYNN Resorts Ltd. | Reduce -40.7% | 0.05% | −0.04 |
| MDT Medtronic PLC | Reduce -5.0% | 0.18% | −0.04 |
| LRCX Lam Research Corp. | Sold out | 0.00% | −0.04 |
| FITB Fifth Third Bancorp | Reduce -4.2% | 0.42% | −0.04 |
| DG Dollar General Corp. | Reduce -68.3% | 0.01% | −0.04 |
| SRTA Strata Critical Medical Inc. | Sold out | 0.00% | −0.04 |
| FANG Diamondback Energy Inc. | Sold out | 0.00% | −0.03 |
| ADBE Adobe Inc. | Reduce -2.9% | 0.13% | −0.03 |
| XLV SS Health Care Select Sector | Reduce -91.7% | 0.00% | −0.03 |
| BDX Becton Dickinson and Co. | Reduce -8.9% | 0.14% | −0.03 |
| SBUX Starbucks Corp. | Reduce -1.4% | 0.23% | −0.03 |
| UNP Union Pacific Corp. | Reduce -0.1% | 0.24% | −0.03 |
| SLV iShares Silver Trust | Reduce -40.4% | 0.03% | −0.03 |
| BIIB Biogen Inc. | Reduce -22.4% | 0.04% | −0.03 |
| PFF iShares Preferred & Income S | Reduce -1.4% | 0.24% | −0.03 |
| CVS CVS Health Corp. | Reduce -8.5% | 0.04% | −0.02 |
| DOW Dow Inc. | Reduce -16.6% | 0.03% | −0.02 |
| PG The Procter & Gamble Co. | Reduce -0.2% | 0.33% | −0.02 |
| WM Waste Management Inc. | Reduce -10.0% | 0.13% | −0.02 |
| PEY Invesco High Yield Equity Di | Reduce -5.8% | 0.17% | −0.02 |
| CASH Pathward Financial Inc. | Reduce -39.0% | 0.04% | −0.02 |
| DGRO iShares Core Dividend Growth | Reduce -7.0% | 0.17% | −0.02 |
| PPG PPG Industries Inc. | Reduce -13.6% | 0.07% | −0.02 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Reduce -14.2% | 0.09% | −0.02 |
| CB Chubb Ltd. | Reduce -0.6% | 0.26% | −0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -1.3% | 0.86% | −0.02 |
Portfolio Buys Q3 2024 → Q4 2024
| DFSD Dimensional Short Duration | Add +130.9% | 1.82% | +0.99 |
| DFCF Dimensional Core Fixed Inc. | Add +30.8% | 3.33% | +0.58 |
| AAPL Apple Inc. | Add +6.5% | 5.23% | +0.51 |
| MSFT Microsoft Corp. | Add +18.6% | 2.09% | +0.23 |
| DFGP Dimensional GLBL Core PL Fix | Add +129.3% | 0.38% | +0.20 |
| BSV Vanguard Short-Term Bond ETF | Add +12.4% | 2.90% | +0.19 |
| AMZN Amazon.com Inc. | Add +1.9% | 1.29% | +0.18 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +11.1% | 1.16% | +0.15 |
| GOOG Alphabet Inc. Class C | Add +5.7% | 1.06% | +0.15 |
| TSLA Tesla Inc. | Add +4.6% | 0.41% | +0.15 |
| NVDA Nvidia Corp. | Add +1.4% | 1.69% | +0.13 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +11.1% | 2.12% | +0.12 |
| MU Micron Technology Inc. | Add +56.2% | 0.49% | +0.09 |
| DFLV Dim US Large Cap Value ETF | Add +41.8% | 0.24% | +0.06 |
| CHKP Check Point Software Tech | New | 0.05% | +0.05 |
| DFAC Dimensional US Core Equity 2 | Add +11.9% | 0.61% | +0.05 |
| MELI MercadoLibre Inc. | Add +61.4% | 0.20% | +0.05 |
| WMT Walmart Inc. | Add +3.2% | 0.42% | +0.04 |
| DFAT Dimensional US Target Value | Add +5.8% | 1.82% | +0.04 |
| BIV Vanguard Intermediate-Term B | Add +9.6% | 3.79% | +0.04 |
| IESC Ies Holdings Inc. | New | 0.04% | +0.04 |
| GOOGL Alphabet Inc. Class A | Add +27.1% | 0.13% | +0.04 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +0.8% | 0.23% | +0.04 |
| DFIP Dimensional Inflation-Protec | New | 0.04% | +0.04 |
| BNDX Vanguard Total Intl Bond ETF | Add +7.4% | 2.42% | +0.03 |
| PNC PNC Financial Services Group | Add +59.4% | 0.08% | +0.03 |
| AVGO Broadcom Inc. | Add +0.7% | 0.11% | +0.03 |
| ALSN Allison Transmission Holding | New | 0.03% | +0.03 |
| GEV GE Vernova Inc. | Add +59.8% | 0.05% | +0.03 |
| GE General Electric | Add +43.1% | 0.13% | +0.02 |
| B Barrick Gold Corp. | Add +200.0% | 0.04% | +0.02 |
| MSI Motorola Solutions Inc. | New | 0.02% | +0.02 |
| VIS Vanguard Industrials ETF | Add +13.5% | 0.31% | +0.02 |
| CAT Caterpillar Inc. | Add +15.6% | 0.58% | +0.02 |
| MLI Mueller Industries Inc. | New | 0.02% | +0.02 |
| OKE Oneok Inc. | Add +108.0% | 0.04% | +0.02 |
| PEP Pepsico Inc. | Add +32.8% | 0.15% | +0.02 |
| HSIC Henry Schein Inc. | New | 0.02% | +0.02 |
| ABT Abbott Laboratories | Add +14.7% | 0.21% | +0.02 |
| VOOV Vanguard S&P 500 Value ETF | Add +300.0% | 0.03% | +0.02 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Add +7.6% | 0.19% | +0.02 |
| XEL Xcel Energy Inc. | Add +43.0% | 0.06% | +0.02 |
| DIS The Walt Disney Co. | Add +5.0% | 0.12% | +0.02 |
| TGT Target Corp. | Add +120.7% | 0.04% | +0.02 |
| VIG Vanguard Dividend Apprec ETF | Add +5.2% | 2.36% | +0.02 |
| FCX Freeport-McMoran Inc. | Add +1282.0% | 0.02% | +0.02 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +14.4% | 0.21% | +0.02 |
| CSCO Cisco Systems Inc. | Add +12.2% | 0.09% | +0.02 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +4.8% | 0.96% | +0.01 |
| AMLP Alerian MLP ETF | New | 0.01% | +0.01 |
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 |