West Bancorporation Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 29, 2026), West Bancorporation Inc. reported 98 stock positions worth $190.9 million. Its top holding was iShares Russell 1000 Growth (IWF) at 7.7% of the portfolio, followed by iShares Russell 1000 Value E (IWD, 7.4%) and Vanguard High DVD Yield ETF (VYM, 5.6%). Compared with Q3 2025, it opened 2 new positions, sold out of 14, added to 26 and reduced 39. The biggest buy was a new position in iShares MSCI Acwi ETF (ACWI) and the biggest sale an exit from PCR US SM CP CSH CWS ETF-Usd (CALF).

Most Recent 13F
Q2 2026
Location
WEST DES MOINES, IA
CIK
0001166928
Portfolio Value
$190.9M (Q4 2025)
SEC Filing
0001166928-26-000004 ↗ filed Jan 29, 2026

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 Q3 2025 Q4 2025: $190.9M $190.9M Q4 2025 Q1 2026: $200.4M Q1 2026 Q2 2026: $233.8M Q2 2026

Holdings 98 stocks · $190.9M
IWF iShares Russell 1000 Growth 7.67% 30,920 $14.6M Add +2.4%
IWD iShares Russell 1000 Value E 7.37% 66,857 $14.1M Add +6.7%
VYM Vanguard High DVD Yield ETF 5.58% 74,140 $10.6M Add +11.2%
VOO Vanguard S&P 500 ETF 5.56% 16,930 $10.6M Add +6.8%
VYMI Vanguard Int High DVD YLD Inc. 5.02% 106,549 $9.6M Add +14.9%
WTBA West Bancorporation 4.90% 421,561 $9.4M Reduce -0.7%
IVV iShares Core S&P 500 ETF 4.73% 13,185 $9.0M Reduce -1.3%
IWR iShares Russell Mid-Cap ETF 4.53% 89,854 $8.7M Add +2.6%
SPY SS SPDR S&P 500 ETF Trust-US 4.53% 12,676 $8.6M No change
VUG Vanguard Mrngstar GR ETF-Sui 3.49% 13,639 $6.7M Add +31.5%
VB Vanguard Most SM-Cap ETF-Usd 3.09% 22,844 $5.9M Add +0.9%
VEA Vanguard Ftse Developed ETF 2.72% 83,170 $5.2M Add +14.0%
BAM Brookfield Asset Mgmt-A 2.56% 93,091 $4.9M No change
AAPL Apple Inc. 2.41% 16,948 $4.6M Reduce -1.0%
MSFT Microsoft Corp. 2.34% 9,248 $4.5M Add +0.3%
QQQ Invesco QQQ Trust Series 1 1.95% 6,051 $3.7M Add +77.8%
VO Vngrd Mrngstr MD-Cap ETF-Usd 1.89% 12,404 $3.6M Add +23.1%
VTV Vanguard Mrngstr Val ETF-Aui 1.53% 15,275 $2.9M Add +5.6%
IWM iShares Russell 2000 ETF 1.51% 11,712 $2.9M Reduce -4.4%
VIG Vanguard Dividend Apprec ETF 1.29% 11,232 $2.5M Reduce -1.7%
JPM JPMorgan Chase & Co. 1.27% 7,501 $2.4M Add +11.6%
VEU Vanguard Ftse All-World Ex-U 1.24% 32,273 $2.4M Add +16.6%
ACWI iShares MSCI Acwi ETF 1.18% 15,980 $2.3M New
GOOG Alphabet Inc. Class C 1.05% 6,369 $2.0M Reduce -4.3%
NVDA Nvidia Corp. 0.82% 8,362 $1.6M Reduce -4.5%
IEFA iShares Core MSCI Eafe ETF 0.80% 17,140 $1.5M No change
SCHD Schwab US DVD Equity ETF 0.80% 55,591 $1.5M Add +6.9%
AMZN Amazon.com Inc. 0.71% 5,864 $1.4M Add +1.7%
META Meta Platforms Inc. Class A 0.65% 1,883 $1.2M Reduce -2.1%
ABBV Abbvie Inc. 0.60% 5,015 $1.1M Reduce -8.0%
COST Costco Wholesale Corp. 0.59% 1,311 $1.1M Reduce -1.4%
ADX Adams Diversified Equity 0.57% 46,890 $1.1M Add +29.9%
MCD McDonald's Corp. 0.55% 3,421 $1.0M Add +1.8%
PFG Principal Financial Group 0.49% 10,610 $936K No change
WFC Wells Fargo & Co. 0.48% 9,826 $916K Reduce -2.0%
WMT Walmart Inc. 0.47% 8,010 $892K Add +18.2%
BRK.B Berkshire Hathaway Inc. Class B 0.44% 1,678 $843K No change
RPG Invesco S&P 500 Pure Growth 0.42% 17,164 $801K Reduce -6.2%
CSCO Cisco Systems Inc. 0.41% 10,160 $783K Reduce -3.3%
PEP Pepsico Inc. 0.40% 5,359 $769K Add +1.8%
LLY Eli Lilly & Co. 0.40% 714 $767K Reduce -3.3%
SO The Southern Co. 0.38% 8,285 $722K No change
VOOV Vanguard S&P 500 Value ETF 0.37% 3,450 $707K No change
JEPI JPMorgan Equity Premium Inco 0.37% 12,300 $704K Reduce -2.8%
ITOT iShares Core S&P Total U.S. 0.36% 4,558 $678K Reduce -0.6%
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.34% 2,318 $647K Reduce -2.1%
ROST Ross Stores Inc. 0.32% 3,439 $620K No change
PRF Invesco Rafi US 1000 ETF 0.32% 12,942 $607K Reduce -8.1%
ABT Abbott Laboratories 0.32% 4,824 $604K Add +1.9%
GOOGL Alphabet Inc. Class A 0.31% 1,912 $598K No change
PFE Pfizer Inc. 0.28% 21,350 $532K No change
GSLC Goldman Activebeta US LC ETF 0.27% 3,859 $511K No change
PG The Procter & Gamble Co. 0.26% 3,410 $489K No change
RSP Invesco S&P 500 Equal Weight 0.25% 2,475 $474K Reduce -19.7%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.24% 1,565 $464K No change
EFA iShares MSCI Eafe ETF 0.24% 4,731 $454K Reduce -16.8%
APH Amphenol Corp. Class A 0.23% 3,244 $438K Reduce -7.7%
FAST Fastenal Co. 0.21% 9,877 $396K Reduce -4.0%
VBK Van Morst SML-Cap Gro-Usd Inc. 0.21% 1,311 $396K Reduce -1.3%
LRCX Lam Research Corp. 0.20% 2,246 $384K Reduce -4.0%
MO Altria Group Inc. 0.20% 6,516 $376K No change
SDY SS SPDR S&P Dividend ETF 0.20% 2,685 $374K Reduce -8.5%
GLD SPDR Gold Shares 0.19% 934 $370K No change
DON Wisdomtree US Midcap Dividen 0.19% 7,031 $363K No change
JNJ Johnson & Johnson 0.19% 1,739 $360K Add +0.5%
NUSC Nuveen ESG Small-Cap ETF 0.19% 7,986 $357K No change
VOE Vngrd Mrngstr MD-Cap Val ETF 0.18% 1,991 $353K Reduce -6.5%
MA Mastercard Inc. Class A 0.18% 590 $337K Reduce -7.7%
IAU iShares Gold Trust 0.17% 3,961 $322K No change
CVX Chevron Corp. 0.16% 1,988 $303K Reduce -10.7%
HON Honeywell International Inc. 0.16% 1,552 $303K Add +4.0%
V Visa Inc. Class A 0.16% 855 $300K No change
AEP American Electric Power 0.16% 2,597 $299K Reduce -2.0%
CTVA Corteva Inc. 0.15% 4,330 $290K No change
P Everpure Inc. Class A filed as PURE STORAGE INC 0.15% 4,299 $288K No change
XOM Exxon Mobil Corp. 0.15% 2,369 $285K Reduce -5.8%
CHE Chemed Corp. 0.15% 650 $278K No change
IJR iShares Core S&P Small-Cap E 0.14% 2,258 $271K Reduce -20.5%
FDS Factset Research Systems Inc. 0.14% 932 $270K No change
VCR Vanguard Consumer Discre ETF 0.14% 680 $268K No change
FFA First Trust Enhan Eqty Inc. 0.14% 12,096 $266K No change
UBER Uber Technologies Inc. 0.14% 3,242 $265K Reduce -3.3%
PM Philip Morris International 0.14% 1,617 $259K No change
PEG Public Service Enterprise GP 0.13% 3,185 $256K Add +4.8%
MNST Monster Beverage Corp. 0.13% 3,289 $252K New
SNPE Xtrckr S&P 500 Scor&scrn ETF 0.13% 4,035 $252K No change
LHX L3HARRIS Technologies Inc. 0.13% 852 $250K Reduce -7.7%
IDV iShares International Select 0.12% 6,004 $237K Reduce -14.7%
NOW ServiceNow Inc. 0.12% 1,495 $229K Reduce -6.6%
TSCO Tractor Supply Company 0.12% 4,490 $225K Add +15.4%
QDEF NT Qual Div Def ETF 0.11% 2,664 $216K No change
INTU Intuit Inc. 0.11% 320 $212K Reduce -7.3%
SPGI S&P Global Inc. 0.11% 405 $212K Reduce -6.7%
CDNS Cadence Design SYS Inc. 0.11% 669 $209K Reduce -7.8%
T AT&T Inc. 0.11% 8,398 $209K No change
IJK iShares S&P Mid-Cap 400 Grow 0.11% 2,140 $207K Reduce -19.4%
VFH Vanguard Financials ETF 0.11% 1,530 $204K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.11% 1,780 $203K No change

Portfolio Sells Q3 2025 → Q4 2025
CALF PCR US SM CP CSH CWS ETF-Usd Sold out 0.00% −0.45
IVV iShares Core S&P 500 ETF Reduce -1.3% 4.73% −0.24
SPOT Spotify Technology SA Sold out 0.00% −0.23
XLK SS Technology Select Sector Sold out 0.00% −0.18
COWZ Pacer US Cash Cows 100 ETF Sold out 0.00% −0.17
EOG EOG Resources Inc. Sold out 0.00% −0.15
IWM iShares Russell 2000 ETF Reduce -4.4% 1.51% −0.14
META Meta Platforms Inc. Class A Reduce -2.1% 0.65% −0.13
HPQ HP Inc. Sold out 0.00% −0.13
VICI Vici Properties Inc. Sold out 0.00% −0.12
CASY Casey's General Stores Inc. Sold out 0.00% −0.12
GNRC Generac Holdings Inc. Sold out 0.00% −0.12
MDLZ Mondelez International Inc. Class A Sold out 0.00% −0.12
ADM Archer-Daniels-Midland Co. Sold out 0.00% −0.11
VBR Vngrd Mrngst SL-CP Val ETF-U Sold out 0.00% −0.11
ANET Arista Networks Inc. Sold out 0.00% −0.11
FISV Fiserv Inc. Sold out 0.00% −0.11
ABBV Abbvie Inc. Reduce -8.0% 0.60% −0.10
COST Costco Wholesale Corp. Reduce -1.4% 0.59% −0.09
NVDA Nvidia Corp. Reduce -4.5% 0.82% −0.09
VIG Vanguard Dividend Apprec ETF Reduce -1.7% 1.29% −0.08
RSP Invesco S&P 500 Equal Weight Reduce -19.7% 0.25% −0.08
FAST Fastenal Co. Reduce -4.0% 0.21% −0.07
RPG Invesco S&P 500 Pure Growth Reduce -6.2% 0.42% −0.07
EFA iShares MSCI Eafe ETF Reduce -16.8% 0.24% −0.06
VOT Vngrd Mrngstr MC GRW ETF-Usd Reduce -2.1% 0.34% −0.05
IJR iShares Core S&P Small-Cap E Reduce -20.5% 0.14% −0.05
UBER Uber Technologies Inc. Reduce -3.3% 0.14% −0.04
NOW ServiceNow Inc. Reduce -6.6% 0.12% −0.04
PRF Invesco Rafi US 1000 ETF Reduce -8.1% 0.32% −0.04
CVX Chevron Corp. Reduce -10.7% 0.16% −0.03
IJK iShares S&P Mid-Cap 400 Grow Reduce -19.4% 0.11% −0.03
SDY SS SPDR S&P Dividend ETF Reduce -8.5% 0.20% −0.03
JEPI JPMorgan Equity Premium Inco Reduce -2.8% 0.37% −0.03
CDNS Cadence Design SYS Inc. Reduce -7.8% 0.11% −0.03
LHX L3HARRIS Technologies Inc. Reduce -7.7% 0.13% −0.03
MA Mastercard Inc. Class A Reduce -7.7% 0.18% −0.03
VOE Vngrd Mrngstr MD-Cap Val ETF Reduce -6.5% 0.18% −0.02
INTU Intuit Inc. Reduce -7.3% 0.11% −0.02
IDV iShares International Select Reduce -14.7% 0.12% −0.02
ITOT iShares Core S&P Total U.S. Reduce -0.6% 0.36% −0.02
VBK Van Morst SML-Cap Gro-Usd Inc. Reduce -1.3% 0.21% −0.01
APH Amphenol Corp. Class A Reduce -7.7% 0.23% −0.01
AAPL Apple Inc. Reduce -1.0% 2.41% −0.01
AEP American Electric Power Reduce -2.0% 0.16% −0.01
XOM Exxon Mobil Corp. Reduce -5.8% 0.15% −0.01
SPGI S&P Global Inc. Reduce -6.7% 0.11% −0.01
CSCO Cisco Systems Inc. Reduce -3.3% 0.41% +0.01
WFC Wells Fargo & Co. Reduce -2.0% 0.48% +0.01
LRCX Lam Research Corp. Reduce -4.0% 0.20% +0.03

Portfolio Buys Q3 2025 → Q4 2025
ACWI iShares MSCI Acwi ETF New 1.18% +1.18
QQQ Invesco QQQ Trust Series 1 Add +77.8% 1.95% +0.81
VUG Vanguard Mrngstar GR ETF-Sui Add +31.5% 3.49% +0.72
VYMI Vanguard Int High DVD YLD Inc. Add +14.9% 5.02% +0.66
VYM Vanguard High DVD Yield ETF Add +11.2% 5.58% +0.35
VEA Vanguard Ftse Developed ETF Add +14.0% 2.72% +0.29
IWD iShares Russell 1000 Value E Add +6.7% 7.37% +0.27
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +23.1% 1.89% +0.24
VOO Vanguard S&P 500 ETF Add +6.8% 5.56% +0.17
VEU Vanguard Ftse All-World Ex-U Add +16.6% 1.24% +0.15
MNST Monster Beverage Corp. New 0.13% +0.13
ADX Adams Diversified Equity Add +29.9% 0.57% +0.13
JPM JPMorgan Chase & Co. Add +11.6% 1.27% +0.09
WMT Walmart Inc. Add +18.2% 0.47% +0.08
VTV Vanguard Mrngstr Val ETF-Aui Add +5.6% 1.53% +0.03
JNJ Johnson & Johnson Add +0.5% 0.19% +0.01
SCHD Schwab US DVD Equity ETF Add +6.9% 0.80% +0.01
AMZN Amazon.com Inc. Add +1.7% 0.71% +0.01
TSCO Tractor Supply Company Add +15.4% 0.12% −0.01
PEG Public Service Enterprise GP Add +4.8% 0.13% −0.01
PEP Pepsico Inc. Add +1.8% 0.40% −0.01
HON Honeywell International Inc. Add +4.0% 0.16% −0.02
MCD McDonald's Corp. Add +1.8% 0.55% −0.02
ABT Abbott Laboratories Add +1.9% 0.32% −0.04
VB Vanguard Most SM-Cap ETF-Usd Add +0.9% 3.09% −0.11
IWR iShares Russell Mid-Cap ETF Add +2.6% 4.53% −0.17
IWF iShares Russell 1000 Growth Add +2.4% 7.67% −0.20
MSFT Microsoft Corp. Add +0.3% 2.34% −0.31

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