City State Bank
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 20, 2026), City State Bank reported 783 stock positions worth $385.3 million. Its top holding was Dimensional Core Fixed (DFCF) at 4.0% of the portfolio, followed by Apple (AAPL, 3.9%) and Vanguard Intermediate-Term B (BIV, 3.7%). Compared with Q4 2025, it opened 33 new positions, sold out of 16, added to 161 and reduced 124. The biggest buy was Dimensional Short Duration (DFSD, shares +34%) and the biggest sale Apple (AAPL, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- NORWALK, IA
- CIK
- 0001910666
- Portfolio Value
- $385.3M (Q1 2026)
- SEC Filing
- 0001910666-26-000002 ↗ filed Apr 20, 2026
Holdings Value
Holdings 783 stocks · $385.3M
| DFCF Dimensional Core Fixed Inc. | 4.03% | 368,087 | $15.5M | Add +15.7% |
| AAPL Apple Inc. | 3.86% | 58,610 | $14.9M | Reduce -1.5% |
| BIV Vanguard Intermediate-Term B | 3.71% | 185,211 | $14.3M | Add +6.4% |
| DFSD Dimensional Short Duration | 3.27% | 263,092 | $12.6M | Add +34.4% |
| BSV Vanguard Short-Term Bond ETF | 2.99% | 146,766 | $11.5M | Add +12.3% |
| VIG Vanguard Dividend Apprec ETF | 2.57% | 46,088 | $9.9M | Add +7.0% |
| VYM Vanguard High DVD Yield ETF | 2.52% | 65,573 | $9.7M | Add +6.2% |
| VWOB Vanguard Emerg MKTS Gov BND | 2.17% | 127,304 | $8.4M | Add +11.9% |
| DFAT Dimensional US Target Value | 2.17% | 133,825 | $8.4M | Add +10.0% |
| BND Vanguard Total Bond Market | 2.11% | 110,273 | $8.1M | Add +8.8% |
| AGG iShares Core U.S. Aggregate | 1.91% | 74,282 | $7.4M | Add +6.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.69% | 13,553 | $6.5M | Add +1.7% |
| BNDX Vanguard Total Intl Bond ETF | 1.64% | 131,814 | $6.3M | Add +4.0% |
| STIP iShares 0-5 Year Tips Bond E | 1.64% | 61,140 | $6.3M | Add +3.0% |
| MSFT Microsoft Corp. | 1.59% | 16,532 | $6.1M | Add +7.0% |
| NVDA Nvidia Corp. | 1.59% | 35,056 | $6.1M | Add +1.1% |
| IGIB iShares 5-10Y Inv Grade Corp. | 1.56% | 113,210 | $6.0M | Add +12.1% |
| GOOG Alphabet Inc. Class C | 1.50% | 20,170 | $5.8M | Add +0.6% |
| VUG Vanguard Mrngstar GR ETF-Sui | 1.43% | 12,609 | $5.5M | Add +9.9% |
| LNT Alliant Energy Corp. | 1.36% | 73,029 | $5.2M | Add +0.6% |
| DFAI Dimensional International Co. | 1.34% | 132,123 | $5.1M | Add +24.2% |
| DFGP Dimensional GLBL Core PL Fix | 1.23% | 87,845 | $4.7M | Add +24.1% |
| MU Micron Technology Inc. | 1.21% | 13,829 | $4.7M | Reduce -9.0% |
| VTV Vanguard Mrngstr Val ETF-Aui | 1.16% | 22,832 | $4.5M | Add +0.7% |
| EBND State Street SPDR Bloomberg | 1.15% | 215,546 | $4.4M | Add +7.4% |
| DFIV Dimensional International Va | 1.14% | 83,370 | $4.4M | Add +8.6% |
| AMZN Amazon.com Inc. | 1.10% | 20,344 | $4.2M | Add +3.0% |
| DUHP Dimensional US High Profi Et | 0.99% | 103,287 | $3.8M | Add +32.7% |
| DFAE Dimensional Emerging Core Eq | 0.91% | 103,491 | $3.5M | Add +7.8% |
| DFAC Dimensional US Core Equity 2 | 0.90% | 89,302 | $3.5M | Add +10.2% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.90% | 12,058 | $3.5M | Add +4.6% |
| VFH Vanguard Financials ETF | 0.87% | 27,721 | $3.3M | Add +2.7% |
| DFLV Dim US Large Cap Value ETF | 0.78% | 84,176 | $3.0M | Add +21.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.74% | 4,398 | $2.9M | Add +0.8% |
| JNJ Johnson & Johnson | 0.72% | 11,374 | $2.8M | Add +0.6% |
| CAT Caterpillar Inc. | 0.71% | 3,880 | $2.7M | Reduce -1.6% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.71% | 10,406 | $2.7M | Add +5.0% |
| TSM Taiwan Semiconductor-SP ADR | 0.70% | 7,977 | $2.7M | Add +7.6% |
| LLY Eli Lilly & Co. | 0.69% | 2,884 | $2.7M | Reduce -0.4% |
| JPM JPMorgan Chase & Co. | 0.66% | 8,705 | $2.6M | Add +2.8% |
| DFIP Dimensional Inflation-Protec | 0.66% | 60,567 | $2.5M | Add +57.7% |
| RTX RTX Corp. | 0.62% | 12,370 | $2.4M | Reduce -0.0% |
| VGT Vanguard Info Tech ETF | 0.60% | 3,302 | $2.3M | Add +7.0% |
| DIHP Dimensional International Hi | 0.59% | 70,301 | $2.3M | Add +45.7% |
| COST Costco Wholesale Corp. | 0.58% | 2,232 | $2.2M | Reduce -0.5% |
| IAGG iShares Intl Aggregate Bond | 0.55% | 42,040 | $2.1M | Add +0.7% |
| VWO Vanguard Ftse Emerging Marke | 0.54% | 38,584 | $2.1M | Add +3.8% |
| ABBV Abbvie Inc. | 0.52% | 9,199 | $2.0M | Add +3.1% |
| VHT Vanguard Health Care ETF | 0.48% | 6,835 | $1.9M | Reduce -1.3% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.46% | 8,183 | $1.8M | No change |
| VMBS Vanguard Mortgage-Backed Sec | 0.45% | 36,822 | $1.7M | Reduce -0.4% |
| MRK Merck & Co. Inc. | 0.44% | 14,052 | $1.7M | Reduce -0.3% |
| TSLA Tesla Inc. | 0.43% | 4,485 | $1.7M | Add +0.4% |
| WMT Walmart Inc. | 0.42% | 13,054 | $1.6M | Reduce -0.4% |
| HD Home Depot Inc. | 0.42% | 4,918 | $1.6M | Add +5.5% |
| VOO Vanguard S&P 500 ETF | 0.41% | 2,655 | $1.6M | Reduce -0.1% |
| TIP iShares Tips Bond ETF | 0.40% | 14,130 | $1.6M | Reduce -1.7% |
| DE Deere & Co. | 0.40% | 2,726 | $1.5M | Reduce -0.8% |
| VEA Vanguard Ftse Developed ETF | 0.39% | 23,712 | $1.5M | Add +3.9% |
| META Meta Platforms Inc. Class A | 0.39% | 2,612 | $1.5M | Add +3.5% |
| VEU Vanguard Ftse All-World Ex-U | 0.39% | 19,892 | $1.5M | Add +1.8% |
| IBB iShares Biotechnology ETF | 0.38% | 8,747 | $1.5M | Add +1.9% |
| XOM Exxon Mobil Corp. | 0.36% | 8,222 | $1.4M | Add +34.6% |
| VPU Vanguard Utilities ETF | 0.35% | 6,771 | $1.3M | Add +3.6% |
| CVX Chevron Corp. | 0.34% | 6,403 | $1.3M | Add +0.2% |
| AMAT Applied Materials Inc. | 0.33% | 3,767 | $1.3M | Reduce -4.8% |
| LMT Lockheed Martin Corp. | 0.33% | 2,088 | $1.3M | Reduce -11.8% |
| CASY Casey's General Stores Inc. | 0.33% | 1,730 | $1.3M | Reduce -7.3% |
| FITB Fifth Third Bancorp | 0.32% | 26,900 | $1.2M | Add +1.4% |
| QQQM Invesco Nasdaq 100 ETF | 0.32% | 5,158 | $1.2M | Add +7.8% |
| VZ Verizon Communications Inc. | 0.31% | 24,127 | $1.2M | Reduce -0.3% |
| AMD Advanced Micro Devices | 0.30% | 5,677 | $1.2M | Add +0.8% |
| KO The Coca-Cola Co. | 0.29% | 14,946 | $1.1M | Reduce -0.1% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.29% | 13,980 | $1.1M | Add +23.5% |
| SPIP SS SPDR P Tips ETF | 0.28% | 41,765 | $1.1M | No change |
| VIS Vanguard Industrials ETF | 0.28% | 3,423 | $1.1M | Reduce -0.7% |
| SPEM State Street SP PTF Em ETF | 0.27% | 22,469 | $1.1M | Reduce -0.1% |
| GS Goldman Sachs Group Inc. | 0.26% | 1,202 | $1.0M | Add +5.0% |
| NEE Nextera Energy Inc. | 0.25% | 10,506 | $976K | Add +1.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.25% | 3,948 | $957K | Add +1.3% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 0.25% | 2,597 | $954K | Add +13.1% |
| MELI MercadoLibre Inc. | 0.24% | 539 | $932K | No change |
| HON Honeywell International Inc. | 0.24% | 4,074 | $921K | Add +24.1% |
| PG The Procter & Gamble Co. | 0.23% | 6,087 | $879K | Add +9.4% |
| EMB iShares JP Morgan Usd Emergi | 0.22% | 9,220 | $866K | Reduce -0.5% |
| VAW Vanguard Materials ETF | 0.22% | 3,834 | $864K | Reduce -1.8% |
| IVV iShares Core S&P 500 ETF | 0.22% | 1,322 | $864K | No change |
| PFE Pfizer Inc. | 0.22% | 30,727 | $863K | Add +2.8% |
| CB Chubb Ltd. | 0.22% | 2,635 | $859K | Add +0.1% |
| AMGN Amgen Inc. | 0.22% | 2,376 | $836K | Add +7.8% |
| ADP Automatic Data Processing | 0.22% | 4,081 | $829K | Reduce -1.2% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.21% | 2,753 | $823K | Add +0.4% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.21% | 2,052 | $801K | Add +20.6% |
| SO The Southern Co. | 0.21% | 8,243 | $796K | Add +17.8% |
| MO Altria Group Inc. | 0.19% | 11,343 | $749K | Add +2.7% |
| AEP American Electric Power | 0.19% | 5,655 | $741K | No change |
| PFG Principal Financial Group | 0.19% | 7,938 | $715K | No change |
| VIGI Vanguard Int Div App Indx FD | 0.19% | 8,075 | $714K | Add +34.5% |
| USB US Bancorp | 0.18% | 13,693 | $712K | Add +28.1% |
| UNP Union Pacific Corp. | 0.18% | 2,910 | $706K | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $31 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | 8 | $31 | No change |
Total filed on the 13F, all lines: $385.3M.
Portfolio Sells Q4 2025 → Q1 2026
| AAPL Apple Inc. | Reduce -1.5% | 3.86% | −0.57 |
| LLY Eli Lilly & Co. | Reduce -0.4% | 0.69% | −0.16 |
| BLV Vanguard Long-Term Bond ETF | Reduce -79.3% | 0.04% | −0.16 |
| FBTC Fidelity Wise Origin Bitcoin | Sold out | 0.00% | −0.16 |
| WINA Winmark Corp. | Sold out | 0.00% | −0.08 |
| ADP Automatic Data Processing | Reduce -1.2% | 0.22% | −0.08 |
| VHT Vanguard Health Care ETF | Reduce -1.3% | 0.48% | −0.06 |
| MMM 3M Co. | Reduce -13.2% | 0.18% | −0.06 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -20.2% | 0.17% | −0.06 |
| VOO Vanguard S&P 500 ETF | Reduce -0.1% | 0.41% | −0.04 |
| BABA Alibaba Group Holding-SP ADR | Reduce -0.9% | 0.18% | −0.04 |
| PFF iShares Preferred & Income S | Reduce -16.7% | 0.15% | −0.04 |
| DVN Devon Energy Corp. | Reduce -95.2% | 0.00% | −0.04 |
| CHKP Check Point Software Tech | Reduce -0.1% | 0.10% | −0.04 |
| AXP American Express Co. | Reduce -1.9% | 0.09% | −0.03 |
| TIP iShares Tips Bond ETF | Reduce -1.7% | 0.40% | −0.03 |
| VMBS Vanguard Mortgage-Backed Sec | Reduce -0.4% | 0.45% | −0.03 |
| MDT Medtronic PLC | Reduce -5.4% | 0.12% | −0.03 |
| BAM Brookfield Asset Mgmt-A | Sold out | 0.00% | −0.03 |
| SPGI S&P Global Inc. | Reduce -0.3% | 0.08% | −0.02 |
| IWN iShares Russell 2000 Value E | Reduce -44.3% | 0.03% | −0.02 |
| SYY Sysco Corp. | Reduce -89.3% | 0.00% | −0.02 |
| F Ford Motor Co. | Reduce -0.6% | 0.10% | −0.02 |
| EMB iShares JP Morgan Usd Emergi | Reduce -0.5% | 0.22% | −0.02 |
| FCX Freeport-McMoran Inc. | Reduce -90.7% | 0.00% | −0.02 |
| WFC Wells Fargo & Co. | Reduce -0.8% | 0.07% | −0.02 |
| SPEM State Street SP PTF Em ETF | Reduce -0.1% | 0.27% | −0.01 |
| BA The Boeing Co. | Reduce -1.2% | 0.09% | −0.01 |
| PAYX Paychex Inc. | Reduce -0.1% | 0.04% | −0.01 |
| CVS CVS Health Corp. | Reduce -17.0% | 0.03% | −0.01 |
| MET Metlife Inc. | Reduce -3.3% | 0.05% | −0.01 |
| IWO iShares Russell 2000 Growth | Reduce -31.0% | 0.02% | −0.01 |
| GIS General Mills Inc. | Reduce -2.8% | 0.02% | −0.01 |
| DOCU Docusign Inc. | Reduce -25.4% | 0.01% | −0.01 |
| CSCO Cisco Systems Inc. | Reduce -4.3% | 0.08% | −0.01 |
| WTBA West Bancorporation | Reduce -15.6% | 0.05% | −0.01 |
| KMB Kimberly-Clark Corp. | Reduce -4.7% | 0.05% | −0.01 |
| UPS United Parcel Service Class B | Reduce -1.6% | 0.09% | −0.01 |
| IUSB Ishr CR Unvrse Usd BD ETF-Ui | Reduce -1.2% | 0.09% | −0.01 |
| XLP SS Consumer Staples Sel Sect | Reduce -21.1% | 0.02% | −0.01 |
| PSX Phillips 66 | Reduce -39.6% | 0.03% | −0.01 |
| IJH iShares Core S&P Midcap ETF | Reduce -0.6% | 0.16% | −0.01 |
| SOLV Solventum Corp. | Reduce -62.5% | 0.00% | −0.01 |
| CAG Conagra Brands Inc. | Reduce -11.8% | 0.02% | −0.01 |
| PYPL PayPal Holdings Inc. | Reduce -9.3% | 0.01% | −0.01 |
| USLM United States Lime & Mineral | Sold out | 0.00% | −0.01 |
| WST West Pharmaceutical Services | Reduce -31.9% | 0.01% | −0.01 |
| IWM iShares Russell 2000 ETF | Reduce -1.7% | 0.08% | −0.00 |
| MLI Mueller Industries Inc. | Reduce -0.4% | 0.05% | −0.00 |
| CMCSA Comcast Corp. Class A | Reduce -44.2% | 0.00% | −0.00 |
Portfolio Buys Q4 2025 → Q1 2026
| DFSD Dimensional Short Duration | Add +34.4% | 3.27% | +0.70 |
| DFCF Dimensional Core Fixed Inc. | Add +15.7% | 4.03% | +0.33 |
| DFAI Dimensional International Co. | Add +24.2% | 1.34% | +0.23 |
| DFIP Dimensional Inflation-Protec | Add +57.7% | 0.66% | +0.22 |
| DFAT Dimensional US Target Value | Add +10.0% | 2.17% | +0.19 |
| DFGP Dimensional GLBL Core PL Fix | Add +24.1% | 1.23% | +0.18 |
| DUHP Dimensional US High Profi Et | Add +32.7% | 0.99% | +0.17 |
| DIHP Dimensional International Hi | Add +45.7% | 0.59% | +0.17 |
| BSV Vanguard Short-Term Bond ETF | Add +12.3% | 2.99% | +0.17 |
| XOM Exxon Mobil Corp. | Add +34.6% | 0.36% | +0.16 |
| DFLV Dim US Large Cap Value ETF | Add +21.1% | 0.78% | +0.13 |
| IBIT iShares Bitcoin Trust ETF | Add +230.5% | 0.17% | +0.10 |
| VYM Vanguard High DVD Yield ETF | Add +6.2% | 2.52% | +0.09 |
| DFIV Dimensional International Va | Add +8.6% | 1.14% | +0.09 |
| TSM Taiwan Semiconductor-SP ADR | Add +7.6% | 0.70% | +0.08 |
| JNJ Johnson & Johnson | Add +0.6% | 0.72% | +0.08 |
| CVX Chevron Corp. | Add +0.2% | 0.34% | +0.08 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +12.1% | 1.56% | +0.07 |
| VWOB Vanguard Emerg MKTS Gov BND | Add +11.9% | 2.17% | +0.07 |
| LNT Alliant Energy Corp. | Add +0.6% | 1.36% | +0.07 |
| HON Honeywell International Inc. | Add +24.1% | 0.24% | +0.06 |
| ITW Illinois Tool Works | Add +1206.8% | 0.07% | +0.06 |
| DFAU Dimensional US Core Equity M | Add +66.7% | 0.17% | +0.06 |
| DFAE Dimensional Emerging Core Eq | Add +7.8% | 0.91% | +0.05 |
| BND Vanguard Total Bond Market | Add +8.8% | 2.11% | +0.05 |
| PEY Invesco High Yield Equity Di | Add +35.6% | 0.16% | +0.04 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +23.5% | 0.29% | +0.04 |
| SO The Southern Co. | Add +17.8% | 0.21% | +0.04 |
| CORZ Core Scientific Inc. | New | 0.04% | +0.04 |
| VIGI Vanguard Int Div App Indx FD | Add +34.5% | 0.19% | +0.04 |
| VLO Valero Energy Corp. | Add +6.9% | 0.10% | +0.03 |
| FMBH First Mid Bancshares Inc. | New | 0.03% | +0.03 |
| HNI Hni Corp. | New | 0.03% | +0.03 |
| USB US Bancorp | Add +28.1% | 0.18% | +0.03 |
| NEE Nextera Energy Inc. | Add +1.3% | 0.25% | +0.03 |
| DGRO iShares Core Dividend Growth | Add +21.0% | 0.16% | +0.02 |
| DFAC Dimensional US Core Equity 2 | Add +10.2% | 0.90% | +0.02 |
| AVGO Broadcom Inc. | Add +35.8% | 0.15% | +0.02 |
| PFE Pfizer Inc. | Add +2.8% | 0.22% | +0.02 |
| VYMI Vanguard Int High DVD YLD Inc. | Add +25.3% | 0.10% | +0.02 |
| MO Altria Group Inc. | Add +2.7% | 0.19% | +0.02 |
| AMGN Amgen Inc. | Add +7.8% | 0.22% | +0.02 |
| PEP Pepsico Inc. | Add +12.6% | 0.14% | +0.02 |
| BMY Bristol-Myers Squibb Co. | Add +9.5% | 0.13% | +0.02 |
| VPU Vanguard Utilities ETF | Add +3.6% | 0.35% | +0.02 |
| MRVL Marvell Technology Inc. | Add +1.7% | 0.15% | +0.02 |
| TMUS T-Mobile US Inc. | Add +1470.0% | 0.02% | +0.02 |
| ED Consolidated Edison Inc. | Add +3.8% | 0.14% | +0.02 |
| WAT Waters Corp. | New | 0.01% | +0.01 |
| GILD Gilead Sciences Inc. | Add +5.2% | 0.12% | +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 |