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City State Bank — 13F Holdings & Portfolio

CIK 1910666 · latest 13F-HR filed 2026-10-20

Backtest portfolio

City State Bank manages $440.9M in 13F-reported U.S. long-equity assets across 864 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are AAPL (4.24%), DFCF (3.74%), DFSD (3.31%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 88 new positions and exited 33; 193 existing positions rose in reported value and 352 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$440.9M

Long-equity book

Holdings
864

Distinct positions

Period
2026-09-30

Filed 2026-10-20

Q/Q Activity
+88 / −33 / ↑193 / ↓352

vs 2026-06-30

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q3 26
AAPL4.2% · -3%DFCF3.7% · +5%DFSD3.3% · +10%BIV3.1% · -0%MU3.1% · -2%BSV2.6% · +1%VIG2.6% · +3%VYM2.4% · +4%DFAT2.2% · +2%VWOB2.1% · +6%MSFT2.1% · +2%VUG1.9% · +18%STIP1.9% · +32%NVDA1.8% · +1%BND1.8% · -1%AGG1.6% · -0%GOOG1.6% · -2%DFAI1.5% · +7%BNDX1.5% · +1%BRK.B1.4% · -9%IGIB1.4% · +4%DFGP1.3% · +12%DUHP1.2% · +12%DFIV1.2% · +3%AMZN1.2% · +0%VTV1.1% · -1%EBND1.1% · +7%DFAC1.1% · +14%DFAE1.1% · +7%DFLV0.9% · +9%TSM0.9% · +5%VO0.9% · -2%VGT0.9% · +7%DFIP0.8% · +23%VFH0.8% · -2%DIHP0.8% · +15%VB0.8% · +8%CAT0.7% · -2%LLY0.7% · -4%JNJ0.7% · +0%JPM0.6% · -1%ABBV0.5% · -0%AMD0.5% · -3%META0.5% · +11%RTX0.5% · -1%VWO0.5% · -2%VOO0.5% · +9%IAGG0.5% · +0%VHT0.5% · -5%MRK0.5% · -0%COST0.5% · -0%VBR0.4% · +2%AMAT0.4% · -3%DE0.4% · +1%IBB0.4% · -5%MRVL0.4% · +2%CRWD0.4% · +307%SPY0.4% · -52%VMBS0.4% · -4%TSLA0.3% · -4%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q2 26 → Q3 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 29.4%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

Name Title / Status Ownership Type

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

City State Bank Holdings (2026-09-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 Apple Inc Ordinary Shares AAPL 037833100 $18.7M 4.24% 56,142 SH
2 Dimensional Etf Trust Core Fixed Income DFCF 25434V872 $16.5M 3.74% 411,505 SH
3 Dimensional Etf Trust Short-Duration Fixed Income DFSD 25434V864 $14.6M 3.31% 314,097 SH
4 Vanguard Bond Index Funds Intermediate-Term Etf BIV 921937819 $13.7M 3.10% 187,772 SH
5 Micron Technology Inc. Ordinary Shares MU 595112103 $13.6M 3.09% 12,774 SH
6 Vanguard Bond Index Funds Short-Term Etf BSV 921937827 $11.5M 2.62% 151,006 SH
7 Vanguard Specialized Funds Dividend Appreciation Ftf VIG 921908844 $11.4M 2.59% 48,898 SH
8 Vanguard High Dividend Yield Etf VYM 921946406 $10.6M 2.41% 68,520 SH
9 Dimensional Etf Trust U.S. Targeted Value DFAT 25434V609 $9.6M 2.17% 143,893 SH
10 Vanguard Whitehall Funds Emerging Markets Government Bond Etf VWOB 921946885 $9.3M 2.11% 147,690 SH
11 Microsoft MSFT 594918104 $9.1M 2.05% 17,645 SH
12 Vanguard Index Funds Morningstar Growth Etf VUG 922908736 $8.6M 1.94% 94,901 SH
13 Ishares Trust 0-5 Year Tips Bond Etf STIP 46429B747 $8.4M 1.89% 83,768 SH
14 Nvidia Corp Ordinary Shares NVDA 67066G104 $8.1M 1.84% 35,530 SH
15 Vanguard Total Bond Market Etf BND 921937835 $7.9M 1.78% 112,051 SH
16 Ishares Trust Core U.S. Aggregate Bond Etf AGG 464287226 $7.1M 1.61% 74,892 SH
17 Alphabet Inc Ordinary Shares - Class C GOOG 02079K107 $6.9M 1.55% 20,111 SH
18 Dimensional Etf Trust International Core Equity Market DFAI 25434V203 $6.5M 1.46% 155,729 SH
19 Vanguard Charlotte Funds Total International Bond Etf BNDX 92203J407 $6.4M 1.46% 136,997 SH
20 Berkshire Hathaway Inc. Ordinary Shares - Class B BRK.B 084670702 $6.1M 1.39% 12,321 SH
21 Ishares Trust 5-10 Year Investment Grade Corporate Bond Etf IGIB 464288638 $6.0M 1.37% 119,544 SH
22 Dimensional Etf Trust Global Core Plus Fixed Income DFGP 25434V583 $5.7M 1.29% 109,447 SH
23 Dfa Investment Dimensions Group Inc US High Relative Profitability Portfolio Etf Class Shares DUHP 25239Y196 $5.5M 1.24% 130,788 SH
24 Dimensional Etf Trust International Value DFIV 25434V807 $5.3M 1.21% 95,746 SH
25 Amazon.com Inc. Ordinary Shares AMZN 023135106 $5.2M 1.17% 20,681 SH
26 Vanguard Index Funds Morningstar Value Etf VTV 922908744 $4.9M 1.12% 22,893 SH
27 Spdr Series Trust State Street Bloomberg Emerging Markets Local Bond Etf EBND 78464A391 $4.9M 1.10% 235,765 SH
28 Dimensional Etf Trust U.S. Core Equity 2 DFAC 25434V708 $4.7M 1.07% 105,696 SH
29 Dimensional Etf Trust Emerging Core Equity Market DFAE 25434V302 $4.7M 1.06% 119,228 SH
30 Dimensional Etf Trust US Large Cap Value DFLV 25434V666 $3.9M 0.89% 98,081 SH
31 Taiwan Semiconductor Manufacturing LTD TSM 874039100 $3.9M 0.88% 8,481 SH
32 Vanguard Index Funds Morningstar Mid-Cap Etf VO 922908629 $3.9M 0.88% 49,279 SH
33 Vanguard World Fund Information Technology Etf VGT 92204A702 $3.8M 0.86% 30,110 SH
34 Dimensional Etf Trust Inflation-Protected Securities DFIP 25434V856 $3.7M 0.85% 95,514 SH
35 Vanguard World Fund Financials Etf VFH 92204A405 $3.5M 0.80% 27,168 SH
36 Dimensional Etf Trust International High Profitability DIHP 25434V765 $3.5M 0.80% 104,670 SH
37 Vanguard Index Funds Morningstar Small-Cap Etf VB 922908751 $3.3M 0.76% 11,740 SH
38 Caterpiller, Inc DEL CAT 149123101 $3.1M 0.70% 3,784 SH
39 Lilly(eli) & Co Ordinary Shares LLY 532457108 $3.0M 0.68% 2,590 SH
40 Johnson & Johnson JNJ 478160104 $3.0M 0.68% 11,275 SH
41 JPMorgan Chase & Co. JPM 46625H100 $2.8M 0.64% 8,592 SH
42 Abbvie Inc Ordinary Shares ABBV 00287Y109 $2.4M 0.54% 9,180 SH
43 Advanced Micro Devices Inc. Ordinary Shares AMD 007903107 $2.4M 0.54% 3,876 SH
44 Meta Platforms Inc Ordinary Shares - Class A META 30303M102 $2.3M 0.53% 3,200 SH
45 Rtx Corp Ordinary Shares RTX 75513E101 $2.3M 0.52% 12,250 SH
46 Vanguard International Equity Index Funds Ftse Emerging Markets Etf VWO 922042858 $2.2M 0.50% 37,011 SH
47 Vanguard Index Funds S&p 500 Etf VOO 922908363 $2.1M 0.48% 2,990 SH
48 Ishares Trust International Aggregate Bond Fund IAGG 46435G672 $2.1M 0.47% 41,820 SH
49 Vanguard World Fund Health Care Etf VHT 92204A504 $2.0M 0.46% 6,456 SH
50 Merck & Co Inc Ordinary Shares MRK 58933Y105 $2.0M 0.46% 13,928 SH
Filing History
Period Filed AUM Holdings Accession
2026-09-30 2026-10-20 $440.9M 864 0001910666-26-000005
2026-06-30 2026-07-14 $436.4M 809 0001910666-26-000003
2026-03-31 2026-04-20 $385.3M 784 0001910666-26-000002
2025-12-31 2026-01-28 $365.1M 767 0001910666-26-000001
Filer Information
Address
1225 COLONIAL PKWY
NORWALK, IA 50211
Phone
(515) 981-4234
Filing Manager
City State Bank
NORWALK, IA
Signatory
SAMANTHA PIERANGELI
Trust Operations Manager