West Bancorporation Inc.

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 23, 2025), West Bancorporation Inc. reported 95 stock positions worth $152.2 million. Its top holding was iShares Russell 1000 Growth (IWF) at 8.9% of the portfolio, followed by iShares Russell 1000 Value E (IWD, 7.0%) and West Bancorporation (WTBA, 6.2%). Compared with Q3 2024, it opened 6 new positions, sold out of 10, added to 13 and reduced 45. The biggest buy was Vanguard S&P 500 ETF (VOO, shares +19%) and the biggest sale PCR US SM CP CSH CWS ETF-Usd (CALF, shares −7%).

Most Recent 13F
Q2 2026
Location
WEST DES MOINES, IA
CIK
0001166928
Portfolio Value
$152.2M (Q4 2024)
SEC Filing
0001166928-25-000004 ↗ filed Jan 23, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $152.1M Q1 2024 Q2 2024: $135.2M Q2 2024 Q3 2024: $149.9M Q3 2024 Q4 2024: $152.2M $152.2M Q4 2024 Q1 2025: $147.2M Q1 2025 Q2 2025: $158.3M Q2 2025 Q3 2025: $179.9M Q3 2025 Q4 2025: $190.9M Q4 2025 Q1 2026: $200.4M Q1 2026 Q2 2026: $233.8M Q2 2026

Holdings 95 stocks · $152.2M
IWF iShares Russell 1000 Growth 8.95% 33,919 $13.6M Reduce -3.0%
IWD iShares Russell 1000 Value E 7.03% 57,768 $10.7M Add +1.1%
WTBA West Bancorporation 6.16% 433,392 $9.4M Reduce -1.6%
IWR iShares Russell Mid-Cap ETF 5.86% 100,974 $8.9M Reduce -4.0%
VOO Vanguard S&P 500 ETF 5.77% 16,293 $8.8M Add +18.8%
IVV iShares Core S&P 500 ETF 5.45% 14,082 $8.3M Reduce -2.6%
SPY SS SPDR S&P 500 ETF Trust-US 4.59% 11,922 $7.0M No change
VYM Vanguard High DVD Yield ETF 3.88% 46,226 $5.9M Add +12.6%
CALF PCR US SM CP CSH CWS ETF-Usd 3.70% 127,886 $5.6M Reduce -6.5%
BAM Brookfield Asset Mgmt-A 3.31% 93,091 $5.0M No change
COWZ Pacer US Cash Cows 100 ETF 2.87% 77,331 $4.4M Reduce -5.9%
VUG Vanguard Mrngstar GR ETF-Sui 2.76% 10,241 $4.2M Add +19.9%
VB Vanguard Most SM-Cap ETF-Usd 2.46% 15,603 $3.7M Add +18.1%
AAPL Apple Inc. 2.46% 14,927 $3.7M Reduce -0.8%
MSFT Microsoft Corp. 2.32% 8,382 $3.5M Reduce -4.4%
IWM iShares Russell 2000 ETF 2.11% 14,562 $3.2M Reduce -4.5%
VEA Vanguard Ftse Developed ETF 1.85% 58,972 $2.8M Reduce -8.3%
VTV Vanguard Mrngstr Val ETF-Aui 1.50% 13,479 $2.3M Reduce -4.6%
VIG Vanguard Dividend Apprec ETF 1.45% 11,260 $2.2M Add +12.4%
VO Vngrd Mrngstr MD-Cap ETF-Usd 1.40% 8,075 $2.1M Add +16.8%
SCHD Schwab US DVD Equity ETF 1.06% 59,238 $1.6M Reduce -2.0%
NVDA Nvidia Corp. 0.87% 9,857 $1.3M Reduce -0.8%
IEFA iShares Core MSCI Eafe ETF 0.84% 18,257 $1.3M Reduce -0.7%
JPM JPMorgan Chase & Co. 0.84% 5,303 $1.3M Reduce -1.2%
COST Costco Wholesale Corp. 0.82% 1,361 $1.2M Reduce -5.8%
GOOG Alphabet Inc. Class C 0.76% 6,069 $1.2M Reduce -1.7%
SO The Southern Co. 0.75% 13,820 $1.1M No change
AMZN Amazon.com Inc. 0.64% 4,461 $979K Add +5.3%
ABBV Abbvie Inc. 0.64% 5,471 $972K No change
MCD McDonald's Corp. 0.58% 3,054 $885K No change
PFG Principal Financial Group 0.54% 10,610 $821K No change
JEPI JPMorgan Equity Premium Inco 0.52% 13,725 $790K No change
VEU Vanguard Ftse All-World Ex-U 0.52% 13,666 $785K Add +62.8%
PEP Pepsico Inc. 0.49% 4,907 $746K Reduce -8.7%
SDY SS SPDR S&P Dividend ETF 0.48% 5,520 $729K Reduce -3.8%
HON Honeywell International Inc. 0.44% 2,984 $674K No change
WMT Walmart Inc. 0.44% 7,440 $672K No change
WFC Wells Fargo & Co. 0.44% 9,450 $664K No change
VOOV Vanguard S&P 500 Value ETF 0.42% 3,450 $637K No change
QQQ Invesco QQQ Trust Series 1 0.41% 1,225 $626K No change
ITOT iShares Core S&P Total U.S. 0.40% 4,693 $604K Add +9.7%
PFE Pfizer Inc. 0.39% 22,463 $596K No change
ABT Abbott Laboratories 0.39% 5,180 $586K Reduce -10.3%
DON Wisdomtree US Midcap Dividen 0.36% 10,781 $550K Reduce -32.7%
EFA iShares MSCI Eafe ETF 0.36% 7,227 $546K Reduce -12.1%
RSP Invesco S&P 500 Equal Weight 0.35% 3,043 $533K Reduce -12.3%
CSCO Cisco Systems Inc. 0.34% 8,798 $521K No change
ROST Ross Stores Inc. 0.34% 3,439 $520K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.34% 2,365 $520K No change
GSLC Goldman Activebeta US LC ETF 0.34% 4,471 $515K Add +5.2%
FAST Fastenal Co. 0.25% 5,387 $387K Reduce -2.0%
PG The Procter & Gamble Co. 0.24% 2,199 $369K No change
SPOT Spotify Technology SA 0.23% 799 $357K Reduce -3.4%
CMG Chipotle Mexican Grill Inc. 0.23% 5,757 $347K Reduce -2.8%
ADM Archer-Daniels-Midland Co. 0.23% 6,859 $347K No change
FFA First Trust Enhan Eqty Inc. 0.23% 16,621 $344K No change
UNH Unitedhealth Group Inc. 0.23% 679 $343K Add +9.3%
MA Mastercard Inc. Class A 0.23% 652 $343K Add +26.1%
MO Altria Group Inc. 0.22% 6,279 $328K No change
DD Dupont DE Nemours Inc. 0.21% 4,250 $324K No change
CVX Chevron Corp. 0.20% 2,103 $305K Reduce -8.7%
HPQ HP Inc. 0.20% 9,121 $298K No change
VTI VG Morningstar TS MKT ETF-US 0.19% 997 $289K New
LLY Eli Lilly & Co. 0.19% 369 $285K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.19% 2,542 $283K Reduce -2.5%
EOG EOG Resources Inc. 0.18% 2,297 $282K Reduce -2.4%
NOW ServiceNow Inc. 0.18% 263 $279K Reduce -3.0%
BRK.B Berkshire Hathaway Inc. Class B 0.18% 600 $272K No change
IJR iShares Core S&P Small-Cap E 0.18% 2,356 $271K Reduce -1.1%
T AT&T Inc. 0.18% 11,919 $271K No change
IJK iShares S&P Mid-Cap 400 Grow 0.18% 2,930 $266K No change
P Everpure Inc. Class A filed as PURE STORAGE INC 0.17% 4,299 $264K No change
DECK Deckers Outdoor Corp. 0.17% 1,286 $261K New
BSX Boston Scientific Corp. 0.17% 2,921 $261K Reduce -3.7%
PEG Public Service Enterprise GP 0.17% 3,039 $257K No change
VCR Vanguard Consumer Discre ETF 0.17% 680 $255K No change
CTVA Corteva Inc. 0.16% 4,330 $247K No change
AEP American Electric Power 0.16% 2,644 $244K Reduce -3.6%
FISV Fiserv Inc. 0.16% 1,176 $242K Reduce -28.6%
XLK SS Technology Select Sector 0.16% 1,028 $239K Reduce -5.8%
INTU Intuit Inc. 0.16% 379 $238K Reduce -3.1%
SPGI S&P Global Inc. 0.16% 476 $237K Reduce -3.3%
XOM Exxon Mobil Corp. 0.15% 2,184 $235K Reduce -2.9%
GNRC Generac Holdings Inc. 0.15% 1,495 $232K New
GLD SPDR Gold Shares 0.15% 934 $226K New
UNP Union Pacific Corp. 0.15% 989 $226K Reduce -3.1%
TSCO Tractor Supply Company 0.15% 4,250 $226K Reduce -3.2%
CDNS Cadence Design SYS Inc. 0.15% 746 $224K New
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.15% 7,609 $222K Reduce -3.5%
APH Amphenol Corp. Class A 0.15% 3,183 $221K Reduce -3.2%
GCOW Pacer Global Cash Cows Divid 0.14% 6,435 $217K Reduce -4.0%
LHX L3HARRIS Technologies Inc. 0.14% 1,009 $212K Reduce -3.4%
V Visa Inc. Class A 0.14% 671 $212K New
SHW The Sherwin-Williams Co. 0.13% 596 $203K Reduce -3.3%
MDLZ Mondelez International Inc. Class A 0.13% 3,355 $200K No change

Portfolio Sells Q3 2024 → Q4 2024
CALF PCR US SM CP CSH CWS ETF-Usd Reduce -6.5% 3.70% −0.55
VEA Vanguard Ftse Developed ETF Reduce -8.3% 1.85% −0.41
IWR iShares Russell Mid-Cap ETF Reduce -4.0% 5.86% −0.32
COWZ Pacer US Cash Cows 100 ETF Reduce -5.9% 2.87% −0.30
MRK Merck & Co. Inc. Sold out 0.00% −0.26
DES Wisdomtree US Smallcap Divid Sold out 0.00% −0.20
MSFT Microsoft Corp. Reduce -4.4% 2.32% −0.19
DON Wisdomtree US Midcap Dividen Reduce -32.7% 0.36% −0.19
BUD Anheuser-Busch Inbev-SPN ADR Sold out 0.00% −0.17
MTD Mettler-Toledo International Sold out 0.00% −0.15
VTV Vanguard Mrngstr Val ETF-Aui Reduce -4.6% 1.50% −0.15
TMO Thermo Fisher Scientific Inc. Sold out 0.00% −0.15
IDV iShares International Select Sold out 0.00% −0.14
LRCX Lam Research Corp. Sold out 0.00% −0.14
GEHC GE Healthcare Technology Sold out 0.00% −0.14
CPRT Copart Inc. Sold out 0.00% −0.14
UPS United Parcel Service Class B Sold out 0.00% −0.14
IWM iShares Russell 2000 ETF Reduce -4.5% 2.11% −0.13
PEP Pepsico Inc. Reduce -8.7% 0.49% −0.12
IVV iShares Core S&P 500 ETF Reduce -2.6% 5.45% −0.12
IEFA iShares Core MSCI Eafe ETF Reduce -0.7% 0.84% −0.11
EFA iShares MSCI Eafe ETF Reduce -12.1% 0.36% −0.10
SCHD Schwab US DVD Equity ETF Reduce -2.0% 1.06% −0.07
SDY SS SPDR S&P Dividend ETF Reduce -3.8% 0.48% −0.06
RSP Invesco S&P 500 Equal Weight Reduce -12.3% 0.35% −0.06
ABT Abbott Laboratories Reduce -10.3% 0.39% −0.05
FISV Fiserv Inc. Reduce -28.6% 0.16% −0.04
COST Costco Wholesale Corp. Reduce -5.8% 0.82% −0.04
VICI Vici Properties Inc. Reduce -3.5% 0.15% −0.03
AEP American Electric Power Reduce -3.6% 0.16% −0.03
LHX L3HARRIS Technologies Inc. Reduce -3.4% 0.14% −0.03
CVX Chevron Corp. Reduce -8.7% 0.20% −0.03
SHW The Sherwin-Williams Co. Reduce -3.3% 0.13% −0.02
TSCO Tractor Supply Company Reduce -3.2% 0.15% −0.02
XOM Exxon Mobil Corp. Reduce -2.9% 0.15% −0.02
GCOW Pacer Global Cash Cows Divid Reduce -4.0% 0.14% −0.02
UNP Union Pacific Corp. Reduce -3.1% 0.15% −0.02
SPGI S&P Global Inc. Reduce -3.3% 0.16% −0.01
EOG EOG Resources Inc. Reduce -2.4% 0.18% −0.01
FAST Fastenal Co. Reduce -2.0% 0.25% −0.01
IJR iShares Core S&P Small-Cap E Reduce -1.1% 0.18% −0.01
XLK SS Technology Select Sector Reduce -5.8% 0.16% −0.01
INTU Intuit Inc. Reduce -3.1% 0.16% −0.01
CMG Chipotle Mexican Grill Inc. Reduce -2.8% 0.23% +0.00
BSX Boston Scientific Corp. Reduce -3.7% 0.17% +0.00
APH Amphenol Corp. Class A Reduce -3.2% 0.15% +0.00
DIS The Walt Disney Co. Reduce -2.5% 0.19% +0.02
NOW ServiceNow Inc. Reduce -3.0% 0.18% +0.02
SPOT Spotify Technology SA Reduce -3.4% 0.23% +0.03
NVDA Nvidia Corp. Reduce -0.8% 0.87% +0.06

Portfolio Buys Q3 2024 → Q4 2024
VOO Vanguard S&P 500 ETF Add +18.8% 5.77% +0.94
VUG Vanguard Mrngstar GR ETF-Sui Add +19.9% 2.76% +0.57
VB Vanguard Most SM-Cap ETF-Usd Add +18.1% 2.46% +0.37
VYM Vanguard High DVD Yield ETF Add +12.6% 3.88% +0.36
VTI VG Morningstar TS MKT ETF-US New 0.19% +0.19
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +16.8% 1.40% +0.18
DECK Deckers Outdoor Corp. New 0.17% +0.17
VEU Vanguard Ftse All-World Ex-U Add +62.8% 0.52% +0.16
GNRC Generac Holdings Inc. New 0.15% +0.15
GLD SPDR Gold Shares New 0.15% +0.15
CDNS Cadence Design SYS Inc. New 0.15% +0.15
V Visa Inc. Class A New 0.14% +0.14
VIG Vanguard Dividend Apprec ETF Add +12.4% 1.45% +0.13
AMZN Amazon.com Inc. Add +5.3% 0.64% +0.12
MA Mastercard Inc. Class A Add +26.1% 0.23% +0.06
ITOT iShares Core S&P Total U.S. Add +9.7% 0.40% +0.04
GSLC Goldman Activebeta US LC ETF Add +5.2% 0.34% +0.02
UNH Unitedhealth Group Inc. Add +9.3% 0.23% −0.02
IWD iShares Russell 1000 Value E Add +1.1% 7.03% −0.21

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 95$233.8MIWF, IWD, VYM, VYMI, IWR
Q1 2026 98$200.4MIWF, IWD, VYM, VYMI, VOO
Q4 2025 98$190.9MIWF, IWD, VYM, VOO, VYMI
Q3 2025 110$179.9MIWF, IWD, VOO, VYM, IVV
Q2 2025 97$158.3MIWF, IWD, IWR, VOO, VYM
Q1 2025 93$147.2MIWF, IWD, IWR, WTBA, VOO
Q4 2024 95$152.2MIWF, IWD, WTBA, IWR, VOO
Q3 2024 99$149.9MIWF, IWD, IWR, WTBA, IVV
Q2 2024 93$135.2MIWF, IWD, IWR, WTBA, IVV
Q1 2024 101$152.1MAEL, IWF, IWD, IWR, WTBA