City State Bank
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 31, 2025), City State Bank reported 748 stock positions worth $319.0 million. Its top holding was Vanguard Intermediate-Term B (BIV) at 3.8% of the portfolio, followed by Apple (AAPL, 3.8%) and Dimensional Core Fixed (DFCF, 3.7%). Compared with Q1 2025, it opened 14 new positions, sold out of 18, added to 89 and reduced 114. The biggest buy was Microsoft (MSFT, shares +3%) and the biggest sale Apple (AAPL, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- NORWALK, IA
- CIK
- 0001910666
- Portfolio Value
- $319.0M (Q2 2025)
- SEC Filing
- 0001910666-25-000005 ↗ filed Jul 31, 2025
Holdings Value
Holdings 748 stocks · $319.0M
| BIV Vanguard Intermediate-Term B | 3.79% | 156,251 | $12.1M | Reduce -1.8% |
| AAPL Apple Inc. | 3.77% | 58,647 | $12.0M | Reduce -0.4% |
| DFCF Dimensional Core Fixed Inc. | 3.66% | 276,525 | $11.7M | Add +3.0% |
| BSV Vanguard Short-Term Bond ETF | 2.92% | 118,484 | $9.3M | Add +0.8% |
| VIG Vanguard Dividend Apprec ETF | 2.50% | 38,935 | $8.0M | Add +1.2% |
| BND Vanguard Total Bond Market | 2.41% | 104,425 | $7.7M | Reduce -3.4% |
| MSFT Microsoft Corp. | 2.36% | 15,136 | $7.5M | Add +3.5% |
| VYM Vanguard High DVD Yield ETF | 2.36% | 56,422 | $7.5M | Add +0.8% |
| VWOB Vanguard Emerg MKTS Gov BND | 2.21% | 108,099 | $7.1M | Add +0.1% |
| AGG iShares Core U.S. Aggregate | 2.17% | 69,942 | $6.9M | Reduce -4.8% |
| BNDX Vanguard Total Intl Bond ETF | 2.17% | 139,852 | $6.9M | Reduce -3.8% |
| DFSD Dimensional Short Duration | 2.11% | 140,441 | $6.7M | Reduce -2.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.11% | 13,825 | $6.7M | Reduce -3.3% |
| STIP iShares 0-5 Year Tips Bond E | 2.02% | 62,473 | $6.4M | Reduce -3.5% |
| NVDA Nvidia Corp. | 1.83% | 36,944 | $5.8M | Add +1.2% |
| DFAT Dimensional US Target Value | 1.81% | 106,890 | $5.8M | Reduce -0.7% |
| IGIB iShares 5-10Y Inv Grade Corp. | 1.44% | 86,115 | $4.6M | Add +1.6% |
| VUG Vanguard Mrngstar GR ETF-Sui | 1.41% | 10,271 | $4.5M | Add +1.0% |
| EBND State Street SPDR Bloomberg | 1.38% | 205,414 | $4.4M | Add +0.0% |
| LNT Alliant Energy Corp. | 1.37% | 72,395 | $4.4M | Add +0.6% |
| AMZN Amazon.com Inc. | 1.31% | 19,107 | $4.2M | Add +9.8% |
| VTV Vanguard Mrngstr Val ETF-Aui | 1.17% | 21,113 | $3.7M | Add +2.7% |
| VFH Vanguard Financials ETF | 1.11% | 27,799 | $3.5M | Reduce -1.9% |
| GOOG Alphabet Inc. Class C | 1.01% | 18,169 | $3.2M | Add +3.8% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 1.00% | 11,442 | $3.2M | Reduce -2.8% |
| DFGP Dimensional GLBL Core PL Fix | 0.89% | 52,182 | $2.8M | Add +13.0% |
| DFAC Dimensional US Core Equity 2 | 0.86% | 76,311 | $2.7M | Add +2.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.84% | 4,361 | $2.7M | Reduce -4.8% |
| JPM JPMorgan Chase & Co. | 0.78% | 8,538 | $2.5M | Reduce -1.5% |
| LLY Eli Lilly & Co. | 0.77% | 3,153 | $2.5M | Add +0.1% |
| DFIV Dimensional International Va | 0.73% | 54,688 | $2.3M | Add +17.2% |
| DFAE Dimensional Emerging Core Eq | 0.73% | 80,847 | $2.3M | Add +5.8% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.72% | 9,719 | $2.3M | Reduce -1.9% |
| COST Costco Wholesale Corp. | 0.70% | 2,264 | $2.2M | Reduce -0.8% |
| DFAI Dimensional International Co. | 0.69% | 63,317 | $2.2M | Add +37.3% |
| VMBS Vanguard Mortgage-Backed Sec | 0.64% | 43,927 | $2.0M | Reduce -8.6% |
| MU Micron Technology Inc. | 0.64% | 16,485 | $2.0M | Reduce -2.6% |
| VGT Vanguard Info Tech ETF | 0.62% | 2,990 | $2.0M | Add +1.0% |
| IAGG iShares Intl Aggregate Bond | 0.61% | 38,075 | $1.9M | Add +0.5% |
| VWO Vanguard Ftse Emerging Marke | 0.58% | 37,721 | $1.9M | Reduce -0.2% |
| RTX RTX Corp. | 0.58% | 12,589 | $1.8M | Reduce -6.8% |
| VHT Vanguard Health Care ETF | 0.57% | 7,340 | $1.8M | Reduce -7.7% |
| JNJ Johnson & Johnson | 0.56% | 11,726 | $1.8M | Add +0.7% |
| META Meta Platforms Inc. Class A | 0.56% | 2,423 | $1.8M | Add +29.9% |
| HD Home Depot Inc. | 0.55% | 4,749 | $1.7M | No change |
| CAT Caterpillar Inc. | 0.55% | 4,483 | $1.7M | Reduce -0.7% |
| ABBV Abbvie Inc. | 0.54% | 9,210 | $1.7M | Add +0.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.52% | 7,380 | $1.7M | Add +11.4% |
| TIP iShares Tips Bond ETF | 0.52% | 15,180 | $1.7M | Reduce -1.9% |
| DUHP Dimensional US High Profi Et | 0.52% | 46,659 | $1.7M | Add +17.5% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.51% | 8,268 | $1.6M | Reduce -2.1% |
| DFLV Dim US Large Cap Value ETF | 0.47% | 48,540 | $1.5M | Add +10.1% |
| TSLA Tesla Inc. | 0.45% | 4,477 | $1.4M | Add +17.1% |
| DE Deere & Co. | 0.44% | 2,774 | $1.4M | Reduce -3.4% |
| VOO Vanguard S&P 500 ETF | 0.44% | 2,468 | $1.4M | Add +21.1% |
| WMT Walmart Inc. | 0.41% | 13,338 | $1.3M | No change |
| ADP Automatic Data Processing | 0.40% | 4,142 | $1.3M | No change |
| VEU Vanguard Ftse All-World Ex-U | 0.40% | 18,921 | $1.3M | Add +2.4% |
| VEA Vanguard Ftse Developed ETF | 0.38% | 21,317 | $1.2M | Reduce -1.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.36% | 3,888 | $1.1M | No change |
| FITB Fifth Third Bancorp | 0.35% | 27,536 | $1.1M | Reduce -1.9% |
| MRK Merck & Co. Inc. | 0.35% | 14,174 | $1.1M | Reduce -0.8% |
| LMT Lockheed Martin Corp. | 0.35% | 2,417 | $1.1M | Add +13.6% |
| SPIP SS SPDR P Tips ETF | 0.35% | 42,675 | $1.1M | No change |
| KO The Coca-Cola Co. | 0.34% | 15,209 | $1.1M | No change |
| VZ Verizon Communications Inc. | 0.33% | 24,471 | $1.1M | Reduce -1.8% |
| QQQM Invesco Nasdaq 100 ETF | 0.32% | 4,500 | $1.0M | Reduce -11.0% |
| VPU Vanguard Utilities ETF | 0.32% | 5,736 | $1.0M | Add +2.3% |
| IBB iShares Biotechnology ETF | 0.30% | 7,680 | $972K | Reduce -7.4% |
| VIS Vanguard Industrials ETF | 0.30% | 3,462 | $970K | Reduce -0.1% |
| CASY Casey's General Stores Inc. | 0.30% | 1,872 | $955K | Reduce -1.4% |
| CVX Chevron Corp. | 0.29% | 6,472 | $927K | Add +4.3% |
| SPEM State Street SP PTF Em ETF | 0.29% | 21,426 | $916K | Reduce -1.6% |
| PG The Procter & Gamble Co. | 0.28% | 5,618 | $895K | No change |
| MELI MercadoLibre Inc. | 0.28% | 339 | $886K | No change |
| VCSH Vanguard S/T Corp. Bond ETF | 0.27% | 10,785 | $857K | Add +21.4% |
| EMB iShares JP Morgan Usd Emergi | 0.26% | 8,795 | $815K | Reduce -15.4% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.25% | 7,410 | $812K | Add +7.2% |
| GS Goldman Sachs Group Inc. | 0.25% | 1,145 | $810K | No change |
| HON Honeywell International Inc. | 0.25% | 3,391 | $790K | Add +2.4% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 0.24% | 2,096 | $767K | Add +1.7% |
| AMD Advanced Micro Devices | 0.24% | 5,406 | $767K | Reduce -5.9% |
| AMAT Applied Materials Inc. | 0.24% | 4,187 | $767K | No change |
| CB Chubb Ltd. | 0.24% | 2,629 | $762K | No change |
| CRWD CrowdStrike Holdings Inc. Class A | 0.24% | 1,483 | $755K | Reduce -25.2% |
| VAW Vanguard Materials ETF | 0.24% | 3,869 | $754K | Reduce -0.8% |
| BLV Vanguard Long-Term Bond ETF | 0.23% | 10,609 | $738K | No change |
| V Visa Inc. Class A | 0.23% | 2,067 | $734K | No change |
| NEE Nextera Energy Inc. | 0.23% | 10,401 | $722K | Reduce -2.3% |
| ABT Abbott Laboratories | 0.22% | 5,212 | $709K | No change |
| CRM Salesforce Inc. | 0.22% | 2,563 | $699K | Add +2.0% |
| MMM 3M Co. | 0.22% | 4,573 | $696K | Reduce -1.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.22% | 14,706 | $696K | No change |
| PFE Pfizer Inc. | 0.22% | 28,701 | $696K | Add +24.8% |
| XOM Exxon Mobil Corp. | 0.21% | 6,359 | $686K | No change |
| CHKP Check Point Software Tech | 0.21% | 3,085 | $683K | Add +260.8% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.21% | 2,355 | $672K | No change |
| UNP Union Pacific Corp. | 0.21% | 2,909 | $669K | No change |
| PFG Principal Financial Group | 0.21% | 8,302 | $659K | Reduce -4.7% |
| SO The Southern Co. | 0.21% | 7,167 | $658K | Reduce -0.3% |
Portfolio Sells Q1 2025 → Q2 2025
| AAPL Apple Inc. | Reduce -0.4% | 3.77% | −0.54 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -3.3% | 2.11% | −0.40 |
| BIV Vanguard Intermediate-Term B | Reduce -1.8% | 3.79% | −0.23 |
| AGG iShares Core U.S. Aggregate | Reduce -4.8% | 2.17% | −0.22 |
| BND Vanguard Total Bond Market | Reduce -3.4% | 2.41% | −0.21 |
| STIP iShares 0-5 Year Tips Bond E | Reduce -3.5% | 2.02% | −0.19 |
| BNDX Vanguard Total Intl Bond ETF | Reduce -3.8% | 2.17% | −0.17 |
| DFSD Dimensional Short Duration | Reduce -2.2% | 2.11% | −0.14 |
| VHT Vanguard Health Care ETF | Reduce -7.7% | 0.57% | −0.12 |
| DFS Discover Financial Services | Sold out | 0.00% | −0.11 |
| VMBS Vanguard Mortgage-Backed Sec | Reduce -8.6% | 0.64% | −0.10 |
| MCD McDonald's Corp. | Reduce -23.6% | 0.17% | −0.08 |
| MRK Merck & Co. Inc. | Reduce -0.8% | 0.35% | −0.07 |
| TM Toyota Motor Corp. -Spon ADR | Reduce -90.9% | 0.01% | −0.06 |
| IEO iShares U.S. Oil & Gas Explo | Sold out | 0.00% | −0.06 |
| EMB iShares JP Morgan Usd Emergi | Reduce -15.4% | 0.26% | −0.06 |
| SNOW Snowflake Inc. | Reduce -52.5% | 0.11% | −0.05 |
| BMY Bristol-Myers Squibb Co. | Reduce -0.4% | 0.13% | −0.05 |
| IBB iShares Biotechnology ETF | Reduce -7.4% | 0.30% | −0.04 |
| TIP iShares Tips Bond ETF | Reduce -1.9% | 0.52% | −0.04 |
| VZ Verizon Communications Inc. | Reduce -1.8% | 0.33% | −0.04 |
| UBER Uber Technologies Inc. | Reduce -97.1% | 0.00% | −0.04 |
| AMGN Amgen Inc. | Reduce -1.1% | 0.20% | −0.04 |
| SBUX Starbucks Corp. | Reduce -8.3% | 0.16% | −0.04 |
| PFG Principal Financial Group | Reduce -4.7% | 0.21% | −0.04 |
| IBIT iShares Bitcoin Trust ETF | Reduce -51.2% | 0.05% | −0.03 |
| ADBE Adobe Inc. | Reduce -24.5% | 0.08% | −0.03 |
| NEM Newmont Corp. | Reduce -91.7% | 0.00% | −0.03 |
| SRTA Strata Critical Medical Inc. | Sold out | 0.00% | −0.03 |
| WEC WEC Energy Group Inc. | Reduce -3.9% | 0.19% | −0.03 |
| FDN First Trust DJ Internet Ind | Sold out | 0.00% | −0.03 |
| NEE Nextera Energy Inc. | Reduce -2.3% | 0.23% | −0.02 |
| FXG First Trust Consumer Staples | Reduce -48.6% | 0.02% | −0.02 |
| MO Altria Group Inc. | Reduce -3.6% | 0.18% | −0.02 |
| ENB Enbridge Inc. | Reduce -10.8% | 0.14% | −0.02 |
| FXH First Trust Health Care Alph | Sold out | 0.00% | −0.02 |
| UAA Under Armour Inc. Class A | Reduce -49.8% | 0.02% | −0.02 |
| SOFI Sofi Technologies Inc. | Reduce -95.2% | 0.00% | −0.02 |
| DFAT Dimensional US Target Value | Reduce -0.7% | 1.81% | −0.02 |
| PFF iShares Preferred & Income S | Reduce -2.3% | 0.20% | −0.02 |
| MDT Medtronic PLC | Reduce -0.5% | 0.17% | −0.02 |
| KMB Kimberly-Clark Corp. | Reduce -0.2% | 0.09% | −0.02 |
| DG Dollar General Corp. | Reduce -91.1% | 0.00% | −0.01 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -5.6% | 0.04% | −0.01 |
| PAYX Paychex Inc. | Reduce -3.6% | 0.09% | −0.01 |
| RTX RTX Corp. | Reduce -6.8% | 0.58% | −0.01 |
| IJR iShares Core S&P Small-Cap E | Reduce -15.6% | 0.07% | −0.01 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -2.1% | 0.51% | −0.01 |
| DOW Dow Inc. | Reduce -19.7% | 0.02% | −0.01 |
| SO The Southern Co. | Reduce -0.3% | 0.21% | −0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| MSFT Microsoft Corp. | Add +3.5% | 2.36% | +0.55 |
| NVDA Nvidia Corp. | Add +1.2% | 1.83% | +0.53 |
| AMZN Amazon.com Inc. | Add +9.8% | 1.31% | +0.22 |
| DFAI Dimensional International Co. | Add +37.3% | 0.69% | +0.21 |
| META Meta Platforms Inc. Class A | Add +29.9% | 0.56% | +0.21 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +1.0% | 1.41% | +0.17 |
| TSM Taiwan Semiconductor-SP ADR | Add +11.4% | 0.52% | +0.16 |
| DIHP Dimensional International Hi | Add +9066.7% | 0.15% | +0.15 |
| CHKP Check Point Software Tech | Add +260.8% | 0.21% | +0.15 |
| DFIV Dimensional International Va | Add +17.2% | 0.73% | +0.13 |
| COF Capital One Financial Corp. | New | 0.13% | +0.13 |
| TSLA Tesla Inc. | Add +17.1% | 0.45% | +0.12 |
| GOOG Alphabet Inc. Class C | Add +3.8% | 1.01% | +0.11 |
| ORCL Oracle Corp. | Add +132.6% | 0.15% | +0.11 |
| VOO Vanguard S&P 500 ETF | Add +21.1% | 0.44% | +0.09 |
| VGT Vanguard Info Tech ETF | Add +1.0% | 0.62% | +0.09 |
| DUHP Dimensional US High Profi Et | Add +17.5% | 0.52% | +0.09 |
| DFAE Dimensional Emerging Core Eq | Add +5.8% | 0.73% | +0.08 |
| DFGP Dimensional GLBL Core PL Fix | Add +13.0% | 0.89% | +0.08 |
| AMCR Amcor PLC | New | 0.06% | +0.06 |
| DFIP Dimensional Inflation-Protec | Add +150.0% | 0.08% | +0.05 |
| AVGO Broadcom Inc. | Add +1.8% | 0.12% | +0.05 |
| DFAC Dimensional US Core Equity 2 | Add +2.3% | 0.86% | +0.05 |
| SMCI Super Micro Computer Inc. | Add +23.5% | 0.11% | +0.04 |
| TMO Thermo Fisher Scientific Inc. | Add +2133.3% | 0.04% | +0.04 |
| LMT Lockheed Martin Corp. | Add +13.6% | 0.35% | +0.04 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +21.4% | 0.27% | +0.04 |
| VIG Vanguard Dividend Apprec ETF | Add +1.2% | 2.50% | +0.04 |
| BTCI Neos Bitcoin High Income ETF | New | 0.04% | +0.04 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Add +1.7% | 0.24% | +0.03 |
| VEU Vanguard Ftse All-World Ex-U | Add +2.4% | 0.40% | +0.03 |
| DFLV Dim US Large Cap Value ETF | Add +10.1% | 0.47% | +0.03 |
| PFE Pfizer Inc. | Add +24.8% | 0.22% | +0.03 |
| EBND State Street SPDR Bloomberg | Add +0.0% | 1.38% | +0.02 |
| IDEV iShares Core MSCI Dev MKTS | Add +10.3% | 0.13% | +0.02 |
| QQQI Neos Nasdaq-100 High Inc. ETF | Add +100.0% | 0.03% | +0.02 |
| USB US Bancorp | Add +10.1% | 0.15% | +0.02 |
| HON Honeywell International Inc. | Add +2.4% | 0.25% | +0.02 |
| SPYI Neos S&P 500 High Income ETF | Add +100.0% | 0.03% | +0.02 |
| IVV iShares Core S&P 500 ETF | Add +2.5% | 0.20% | +0.01 |
| VIGI Vanguard Int Div App Indx FD | Add +5.3% | 0.17% | +0.01 |
| DFAX Dimensional World Ex US Core | Add +20.0% | 0.06% | +0.01 |
| P Everpure Inc. Class A | Add +80.8% | 0.02% | +0.01 |
| COIN Coinbase Global Inc. Class A | New | 0.01% | +0.01 |
| FTNT Fortinet Inc. | Add +36.7% | 0.03% | +0.01 |
| PLTR Palantir Technologies Inc. Class A | Add +3.6% | 0.02% | +0.01 |
| GD General Dynamics Corp. | Add +10.6% | 0.08% | +0.01 |
| IXG iShares Global Financials Et | Add +16.3% | 0.05% | +0.01 |
| OKE Oneok Inc. | Add +57.2% | 0.04% | +0.01 |
| VST Vistra Corp. | Add +210.0% | 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 |