West Bancorporation Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 23, 2025), West Bancorporation Inc. reported 110 stock positions worth $179.9 million. Its top holding was iShares Russell 1000 Growth (IWF) at 7.9% of the portfolio, followed by iShares Russell 1000 Value E (IWD, 7.1%) and Vanguard S&P 500 ETF (VOO, 5.4%). Compared with Q2 2025, it opened 19 new positions, sold out of 6, added to 39 and reduced 38. The biggest buy was Vanguard Int High DVD YLD (VYMI, shares +34%) and the biggest sale iShares Russell Mid-Cap ETF (IWR, shares −11%).

Most Recent 13F
Q2 2026
Location
WEST DES MOINES, IA
CIK
0001166928
Portfolio Value
$179.9M (Q3 2025)
SEC Filing
0001166928-25-000084 ↗ filed Oct 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 Q4 2024 Q1 2025: $147.2M Q1 2025 Q2 2025: $158.3M Q2 2025 Q3 2025: $179.9M $179.9M Q3 2025 Q4 2025: $190.9M Q4 2025 Q1 2026: $200.4M Q1 2026 Q2 2026: $233.8M Q2 2026

Holdings 110 stocks · $179.9M
IWF iShares Russell 1000 Growth 7.87% 30,206 $14.1M Reduce -5.2%
IWD iShares Russell 1000 Value E 7.10% 62,684 $12.8M Reduce -1.5%
VOO Vanguard S&P 500 ETF 5.40% 15,846 $9.7M Add +1.3%
VYM Vanguard High DVD Yield ETF 5.23% 66,679 $9.4M Add +1.8%
IVV iShares Core S&P 500 ETF 4.97% 13,354 $8.9M Reduce -1.0%
WTBA West Bancorporation 4.80% 424,437 $8.6M Reduce -0.8%
IWR iShares Russell Mid-Cap ETF 4.70% 87,575 $8.5M Reduce -10.8%
SPY SS SPDR S&P 500 ETF Trust-US 4.70% 12,676 $8.4M Add +12.7%
VYMI Vanguard Int High DVD YLD Inc. 4.37% 92,726 $7.9M Add +34.4%
VB Vanguard Most SM-Cap ETF-Usd 3.20% 22,646 $5.8M Reduce -2.4%
BAM Brookfield Asset Mgmt-A 2.95% 93,091 $5.3M No change
VUG Vanguard Mrngstar GR ETF-Sui 2.77% 10,374 $5.0M Add +2.1%
MSFT Microsoft Corp. 2.65% 9,218 $4.8M Add +12.8%
VEA Vanguard Ftse Developed ETF 2.43% 72,965 $4.4M Reduce -2.4%
AAPL Apple Inc. 2.42% 17,119 $4.4M Add +17.1%
IWM iShares Russell 2000 ETF 1.65% 12,247 $3.0M Reduce -14.7%
VO Vngrd Mrngstr MD-Cap ETF-Usd 1.65% 10,074 $3.0M Add +3.2%
VTV Vanguard Mrngstr Val ETF-Aui 1.50% 14,459 $2.7M Add +4.9%
VIG Vanguard Dividend Apprec ETF 1.37% 11,428 $2.5M Reduce -2.4%
JPM JPMorgan Chase & Co. 1.18% 6,722 $2.1M Add +25.1%
QQQ Invesco QQQ Trust Series 1 1.14% 3,403 $2.0M Add +224.1%
VEU Vanguard Ftse All-World Ex-U 1.10% 27,674 $2.0M Add +41.0%
NVDA Nvidia Corp. 0.91% 8,759 $1.6M Add +15.2%
GOOG Alphabet Inc. Class C 0.90% 6,658 $1.6M Add +11.1%
IEFA iShares Core MSCI Eafe ETF 0.83% 17,140 $1.5M Add +2.2%
SCHD Schwab US DVD Equity ETF 0.79% 51,991 $1.4M Reduce -2.9%
META Meta Platforms Inc. Class A 0.79% 1,923 $1.4M Add +127.0%
AMZN Amazon.com Inc. 0.70% 5,765 $1.3M Add +27.6%
ABBV Abbvie Inc. 0.70% 5,450 $1.3M Add +3.0%
COST Costco Wholesale Corp. 0.68% 1,330 $1.2M Reduce -1.3%
MCD McDonald's Corp. 0.57% 3,362 $1.0M Add +10.1%
PFG Principal Financial Group 0.49% 10,610 $880K No change
RPG Invesco S&P 500 Pure Growth 0.49% 18,300 $873K New
BRK.B Berkshire Hathaway Inc. Class B 0.47% 1,678 $844K Add +33.3%
WFC Wells Fargo & Co. 0.47% 10,024 $840K Add +6.1%
CALF PCR US SM CP CSH CWS ETF-Usd 0.45% 18,480 $809K Reduce -3.9%
ADX Adams Diversified Equity 0.45% 36,090 $805K New
SO The Southern Co. 0.44% 8,285 $785K Reduce -40.0%
PEP Pepsico Inc. 0.41% 5,265 $739K Add +15.3%
JEPI JPMorgan Equity Premium Inco 0.40% 12,650 $722K Add +7.4%
CSCO Cisco Systems Inc. 0.40% 10,510 $719K Add +25.0%
WMT Walmart Inc. 0.39% 6,777 $698K Reduce -8.9%
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.39% 2,367 $695K New
VOOV Vanguard S&P 500 Value ETF 0.38% 3,450 $688K No change
ITOT iShares Core S&P Total U.S. 0.37% 4,583 $668K Add +9.7%
PRF Invesco Rafi US 1000 ETF 0.35% 14,082 $637K New
ABT Abbott Laboratories 0.35% 4,735 $634K Add +1.0%
RSP Invesco S&P 500 Equal Weight 0.33% 3,083 $585K Reduce -3.8%
LLY Eli Lilly & Co. 0.31% 738 $563K Add +5.3%
PFE Pfizer Inc. 0.30% 21,350 $544K No change
EFA iShares MSCI Eafe ETF 0.30% 5,684 $531K Reduce -5.6%
ROST Ross Stores Inc. 0.29% 3,439 $524K No change
PG The Procter & Gamble Co. 0.29% 3,410 $524K Add +70.6%
FAST Fastenal Co. 0.28% 10,288 $505K Reduce -3.6%
GSLC Goldman Activebeta US LC ETF 0.28% 3,859 $503K Add +5.8%
GOOGL Alphabet Inc. Class A 0.26% 1,912 $465K New
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.25% 1,565 $442K Reduce -33.8%
APH Amphenol Corp. Class A 0.24% 3,515 $435K Reduce -6.9%
MO Altria Group Inc. 0.24% 6,516 $430K Add +18.5%
SDY SS SPDR S&P Dividend ETF 0.23% 2,935 $411K Reduce -5.0%
SPOT Spotify Technology SA 0.23% 586 $409K Add +2.5%
VBK Van Morst SML-Cap Gro-Usd Inc. 0.22% 1,328 $395K New
VOE Vngrd Mrngstr MD-Cap Val ETF 0.21% 2,130 $372K New
DON Wisdomtree US Midcap Dividen 0.20% 7,031 $368K Reduce -3.4%
MA Mastercard Inc. Class A 0.20% 639 $363K Reduce -0.5%
P Everpure Inc. Class A filed as PURE STORAGE INC 0.20% 4,299 $360K No change
NUSC Nuveen ESG Small-Cap ETF 0.20% 7,986 $352K New
CVX Chevron Corp. 0.19% 2,226 $346K Add +5.8%
IJR iShares Core S&P Small-Cap E 0.19% 2,839 $337K Add +21.5%
GLD SPDR Gold Shares 0.18% 934 $332K No change
UBER Uber Technologies Inc. 0.18% 3,352 $328K New
XLK SS Technology Select Sector 0.18% 1,145 $323K Add +11.4%
JNJ Johnson & Johnson 0.18% 1,730 $321K New
HON Honeywell International Inc. 0.17% 1,492 $314K Reduce -50.0%
LRCX Lam Research Corp. 0.17% 2,339 $313K Reduce -7.3%
COWZ Pacer US Cash Cows 100 ETF 0.17% 5,355 $308K No change
AEP American Electric Power 0.17% 2,649 $298K Reduce -6.1%
NOW ServiceNow Inc. 0.16% 320 $294K Add +3.2%
CTVA Corteva Inc. 0.16% 4,330 $293K No change
V Visa Inc. Class A 0.16% 855 $292K Add +46.1%
CHE Chemed Corp. 0.16% 650 $291K New
IAU iShares Gold Trust 0.16% 3,961 $288K No change
XOM Exxon Mobil Corp. 0.16% 2,515 $284K Add +6.0%
LHX L3HARRIS Technologies Inc. 0.16% 923 $282K Reduce -6.8%
VCR Vanguard Consumer Discre ETF 0.15% 680 $269K No change
FDS Factset Research Systems Inc. 0.15% 932 $267K New
EOG EOG Resources Inc. 0.15% 2,368 $266K Add +5.2%
PM Philip Morris International 0.15% 1,617 $262K Add +11.9%
FFA First Trust Enhan Eqty Inc. 0.14% 12,096 $260K No change
IDV iShares International Select 0.14% 7,039 $257K Reduce -1.9%
CDNS Cadence Design SYS Inc. 0.14% 726 $255K Reduce -25.6%
IJK iShares S&P Mid-Cap 400 Grow 0.14% 2,656 $255K Reduce -5.2%
PEG Public Service Enterprise GP 0.14% 3,039 $254K No change
SNPE Xtrckr S&P 500 Scor&scrn ETF 0.13% 4,035 $242K New
T AT&T Inc. 0.13% 8,398 $237K Reduce -29.5%
INTU Intuit Inc. 0.13% 345 $236K Reduce -7.0%
HPQ HP Inc. 0.13% 8,598 $234K Reduce -5.7%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.12% 6,888 $225K Reduce -7.6%
CASY Casey's General Stores Inc. 0.12% 396 $224K Reduce -27.3%
TSCO Tractor Supply Company 0.12% 3,889 $221K Reduce -6.8%
GNRC Generac Holdings Inc. 0.12% 1,320 $221K Reduce -9.5%
QDEF NT Qual Div Def ETF 0.12% 2,664 $213K New
SPGI S&P Global Inc. 0.12% 434 $211K Reduce -6.9%
MDLZ Mondelez International Inc. Class A 0.12% 3,355 $210K No change
ADM Archer-Daniels-Midland Co. 0.11% 3,429 $205K Reduce -50.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.11% 1,780 $204K New
VBR Vngrd Mrngst SL-CP Val ETF-U 0.11% 976 $204K New
ANET Arista Networks Inc. 0.11% 1,396 $203K New
FISV Fiserv Inc. 0.11% 1,574 $203K New
VFH Vanguard Financials ETF 0.11% 1,530 $201K New

Portfolio Sells Q2 2025 → Q3 2025
IWR iShares Russell Mid-Cap ETF Reduce -10.8% 4.70% −1.00
IWD iShares Russell 1000 Value E Reduce -1.5% 7.10% −0.71
IWF iShares Russell 1000 Growth Reduce -5.2% 7.87% −0.68
WTBA West Bancorporation Reduce -0.8% 4.80% −0.51
SO The Southern Co. Reduce -40.0% 0.44% −0.37
IVV iShares Core S&P 500 ETF Reduce -1.0% 4.97% −0.32
IWM iShares Russell 2000 ETF Reduce -14.7% 1.65% −0.31
VB Vanguard Most SM-Cap ETF-Usd Reduce -2.4% 3.20% −0.27
HON Honeywell International Inc. Reduce -50.0% 0.17% −0.26
VEA Vanguard Ftse Developed ETF Reduce -2.4% 2.43% −0.26
IBM Intl Business Machines Corp. Reduce -33.8% 0.25% −0.19
BSX Boston Scientific Corp. Sold out 0.00% −0.19
COST Costco Wholesale Corp. Reduce -1.3% 0.68% −0.16
VIG Vanguard Dividend Apprec ETF Reduce -2.4% 1.37% −0.14
CMG Chipotle Mexican Grill Inc. Sold out 0.00% −0.14
UNP Union Pacific Corp. Sold out 0.00% −0.14
ECL Ecolab Inc. Sold out 0.00% −0.13
BUD Anheuser-Busch Inbev-SPN ADR Sold out 0.00% −0.13
SHW The Sherwin-Williams Co. Sold out 0.00% −0.13
ADM Archer-Daniels-Midland Co. Reduce -50.0% 0.11% −0.11
SCHD Schwab US DVD Equity ETF Reduce -2.9% 0.79% −0.11
T AT&T Inc. Reduce -29.5% 0.13% −0.09
WMT Walmart Inc. Reduce -8.9% 0.39% −0.07
INTU Intuit Inc. Reduce -7.0% 0.13% −0.05
CASY Casey's General Stores Inc. Reduce -27.3% 0.12% −0.05
CDNS Cadence Design SYS Inc. Reduce -25.6% 0.14% −0.05
EFA iShares MSCI Eafe ETF Reduce -5.6% 0.30% −0.04
RSP Invesco S&P 500 Equal Weight Reduce -3.8% 0.33% −0.04
SPGI S&P Global Inc. Reduce -6.9% 0.12% −0.04
SDY SS SPDR S&P Dividend ETF Reduce -5.0% 0.23% −0.04
CALF PCR US SM CP CSH CWS ETF-Usd Reduce -3.9% 0.45% −0.03
VICI Vici Properties Inc. Reduce -7.6% 0.12% −0.03
DON Wisdomtree US Midcap Dividen Reduce -3.4% 0.20% −0.03
MA Mastercard Inc. Class A Reduce -0.5% 0.20% −0.03
IJK iShares S&P Mid-Cap 400 Grow Reduce -5.2% 0.14% −0.02
AEP American Electric Power Reduce -6.1% 0.17% −0.02
TSCO Tractor Supply Company Reduce -6.8% 0.12% −0.02
IDV iShares International Select Reduce -1.9% 0.14% −0.01
HPQ HP Inc. Reduce -5.7% 0.13% −0.01
GNRC Generac Holdings Inc. Reduce -9.5% 0.12% −0.01
FAST Fastenal Co. Reduce -3.6% 0.28% −0.00
LHX L3HARRIS Technologies Inc. Reduce -6.8% 0.16% −0.00
APH Amphenol Corp. Class A Reduce -6.9% 0.24% +0.01
LRCX Lam Research Corp. Reduce -7.3% 0.17% +0.02

Portfolio Buys Q2 2025 → Q3 2025
VYMI Vanguard Int High DVD YLD Inc. Add +34.4% 4.37% +0.87
QQQ Invesco QQQ Trust Series 1 Add +224.1% 1.14% +0.77
AAPL Apple Inc. Add +17.1% 2.42% +0.53
RPG Invesco S&P 500 Pure Growth New 0.49% +0.49
ADX Adams Diversified Equity New 0.45% +0.45
META Meta Platforms Inc. Class A Add +127.0% 0.79% +0.39
VOT Vngrd Mrngstr MC GRW ETF-Usd New 0.39% +0.39
PRF Invesco Rafi US 1000 ETF New 0.35% +0.35
SPY SS SPDR S&P 500 ETF Trust-US Add +12.7% 4.70% +0.31
VEU Vanguard Ftse All-World Ex-U Add +41.0% 1.10% +0.26
GOOGL Alphabet Inc. Class A New 0.26% +0.26
GOOG Alphabet Inc. Class C Add +11.1% 0.90% +0.23
VBK Van Morst SML-Cap Gro-Usd Inc. New 0.22% +0.22
VOE Vngrd Mrngstr MD-Cap Val ETF New 0.21% +0.21
NUSC Nuveen ESG Small-Cap ETF New 0.20% +0.20
JPM JPMorgan Chase & Co. Add +25.1% 1.18% +0.19
UBER Uber Technologies Inc. New 0.18% +0.18
JNJ Johnson & Johnson New 0.18% +0.18
CHE Chemed Corp. New 0.16% +0.16
NVDA Nvidia Corp. Add +15.2% 0.91% +0.15
FDS Factset Research Systems Inc. New 0.15% +0.15
SNPE Xtrckr S&P 500 Scor&scrn ETF New 0.13% +0.13
QDEF NT Qual Div Def ETF New 0.12% +0.12
DIS The Walt Disney Co. New 0.11% +0.11
VBR Vngrd Mrngst SL-CP Val ETF-U New 0.11% +0.11
ANET Arista Networks Inc. New 0.11% +0.11
FISV Fiserv Inc. New 0.11% +0.11
VFH Vanguard Financials ETF New 0.11% +0.11
PG The Procter & Gamble Co. Add +70.6% 0.29% +0.09
MSFT Microsoft Corp. Add +12.8% 2.65% +0.09
BRK.B Berkshire Hathaway Inc. Class B Add +33.3% 0.47% +0.08
ABBV Abbvie Inc. Add +3.0% 0.70% +0.08
AMZN Amazon.com Inc. Add +27.6% 0.70% +0.08
MO Altria Group Inc. Add +18.5% 0.24% +0.04
CSCO Cisco Systems Inc. Add +25.0% 0.40% +0.03
V Visa Inc. Class A Add +46.1% 0.16% +0.03
PEP Pepsico Inc. Add +15.3% 0.41% +0.03
IJR iShares Core S&P Small-Cap E Add +21.5% 0.19% +0.03
XLK SS Technology Select Sector Add +11.4% 0.18% +0.01
ITOT iShares Core S&P Total U.S. Add +9.7% 0.37% +0.01
MCD McDonald's Corp. Add +10.1% 0.57% +0.00
CVX Chevron Corp. Add +5.8% 0.19% +0.00
GSLC Goldman Activebeta US LC ETF Add +5.8% 0.28% 0.00
XOM Exxon Mobil Corp. Add +6.0% 0.16% −0.00
WFC Wells Fargo & Co. Add +6.1% 0.47% −0.01
PM Philip Morris International Add +11.9% 0.15% −0.02
JEPI JPMorgan Equity Premium Inco Add +7.4% 0.40% −0.02
EOG EOG Resources Inc. Add +5.2% 0.15% −0.02
LLY Eli Lilly & Co. Add +5.3% 0.31% −0.03
NOW ServiceNow Inc. Add +3.2% 0.16% −0.04

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