CB
Citizens Business Bank — 13F Portfolio Changes & Top Buys (Q2 2026)
Citizens Business BankCIK: 0001948632
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$664.1M
Reporting period: 2026-06-30 · Number of holdings: 234
Citizens Business Bank disclosed 234 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $664.1M and a quarterly turnover rate of 21.7%.
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Personality snowflake
- Concentration
- 13.29
- Portfolio Stability
- 21.71
- Momentum
- 100
- Sector conviction
- 62.31
- Diversification
- 100
- Sizing Uniformity
- 80.91
Citizens Business Bank's disclosed holdings carry a Herfindahl concentration index of 0.033 — mathematically equivalent to about 30 equally-sized positions, well below its 234 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.91), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 64% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out XPOF
Add MRVL
+0.5% $8.1M
Add DELL
-11.0% $7.4M
New buy ASTS
Trim LNG
-41.8% -$5.4M
Sold out REGN
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 139 holdings (of 234 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IWR | Ishares Russell Mid-cap ETF | ETF-Other | 10.54% | +0.18% | -2.48% | |
| 2 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 9.42% | -0.14% | -3.56% | |
| 3 | NVDA | Nvidia CORP | Stock-Tech | 5.27% | +0.17% | -2.05% | |
| 4 | AVGO | Broadcom Inc | Stock-Tech | 3.51% | +0.32% | -1.96% | |
| 5 | AAPL | Apple Inc | Stock-Tech | 3.23% | +0.13% | -0.49% | |
| 6 | PWR | Quanta Services Inc | Stock-Industrials | 3.00% | +0.48% | -1.37% | |
| 7 | CVBF | Cvb Financial CORP | Stock-Other | 2.33% | +0.15% | — | |
| 8 | DELL | Dell Technologies -c | Stock-Tech | 1.96% | +1.05% | -10.96% | |
| 9 | EMXC | Ishares Msci Emr Mrk Ex Chna | ETF-Other | 1.88% | +0.21% | -6.08% | |
| 10 | MSFT | Microsoft CORP | Stock-Tech | 1.87% | -0.16% | -0.12% | |
| 11 | MRVL | Marvell Technology Inc | Stock-Tech | 1.83% | +1.17% | +0.46% | |
| 12 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.81% | +0.19% | -2.11% | |
| 13 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 1.77% | +0.13% | -3.06% | |
| 14 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.77% | +0.05% | -2.49% | |
| 15 | JBND | Jpmorgan Active Bond ETF | ETF-Other | 1.66% | -0.23% | -3.54% | |
| 16 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 1.63% | -0.66% | -2.72% | |
| 17 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 1.61% | +0.11% | +1.50% | |
| 18 | EFA | Ishares Msci Eafe ETF | ETF-Other | 1.59% | -0.02% | +0.51% | |
| 19 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 1.43% | +0.05% | -2.40% | |
| 20 | PANW | Palo Alto Networks Inc | Stock-Tech | 1.37% | +0.66% | -1.27% | |
| 21 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.23% | +0.03% | -0.15% | |
| 22 | BAC | Bank Of America CORP | Stock-Financials | 1.22% | +0.07% | -1.47% | |
| 23 | GS | Goldman Sachs Group Inc | Stock-Financials | 1.20% | +0.08% | -2.41% | |
| 24 | ABBV | Abbvie Inc | Stock-Healthcare | 1.15% | +0.02% | -4.34% | |
| 25 | IJR | Ishares Core S&p Small-cap E | ETF-Small Cap | 1.12% | +0.07% | -2.97% | |
| 26 | TRV | Travelers Cos Inc/the | Stock-Financials | 1.11% | +0.03% | -1.70% | |
| 27 | FANG | Diamondback Energy Inc | Stock-Energy | 1.06% | -0.23% | +1.07% | |
| 28 | ASTS | Ast Spacemobile Inc | Stock-Tech | 0.95% | +0.95% | NEW | |
| 29 | SCHW | Schwab (charles) CORP | Stock-Financials | 0.93% | -0.15% | -3.78% | |
| 30 | MRK | Merck & Co. Inc. | Stock-Healthcare | 0.92% | -0.03% | -1.85% | |
| 31 | D | Dominion Energy Inc | Stock-Utilities | 0.91% | -0.01% | -2.60% | |
| 32 | BROS | Dutch Bros Inc-class A | Stock-Consumer Disc | 0.91% | +0.19% | -2.66% | |
| 33 | WMT | Walmart Inc | Stock-Consumer Staples | 0.90% | -0.28% | -9.25% | |
| 34 | CVX | Chevron CORP | Stock-Energy | 0.89% | -0.35% | -2.40% | |
| 35 | FCAL | First Trust California Munic | ETF-Other | 0.89% | -0.06% | -0.27% | |
| 36 | UBER | Uber Technologies Inc | Stock-Industrials | 0.88% | -0.11% | -3.62% | |
| 37 | HD | Home Depot Inc | Stock-Consumer Disc | 0.87% | +0.05% | +8.33% | |
| 38 | SNOW | Snowflake Inc | Stock-Tech | 0.87% | +0.29% | -3.88% | |
| 39 | BWXT | Bwx Technologies Inc | Stock-Industrials | 0.83% | -0.14% | -2.38% | |
| 40 | USB | US Bancorp | Stock-Financials | 0.83% | +0.04% | -1.10% | |
| 41 | EXPE | Expedia Group Inc | Stock-Consumer Disc | 0.82% | -0.01% | -2.92% | |
| 42 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 0.82% | -0.08% | -3.22% | |
| 43 | UNP | Union Pacific CORP | Stock-Industrials | 0.81% | +0.02% | -0.60% | |
| 44 | LNG | Cheniere Energy Inc | Stock-Energy | 0.78% | -0.95% | -41.84% | |
| 45 | SHW | Sherwin-williams Co/the | Stock-Materials | 0.72% | +0.02% | +4.20% | |
| 46 | XOM | Exxon Mobil CORP | Stock-Energy | 0.71% | -0.26% | -2.27% | |
| 47 | CL | Colgate-palmolive Co | Stock-Consumer Staples | 0.71% | -0.06% | -7.16% | |
| 48 | TOST | Toast Inc-class A | Stock-Tech | 0.69% | +0.69% | NEW | |
| 49 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.69% | +0.08% | +0.28% | |
| 50 | MA | Mastercard Inc - A | Stock-Financials | 0.69% | -0.07% | -4.48% |
1–50 of 139
Portfolio Performance
Performance for Q3 2026
+4.8%
Performance Last 4 Quarters
+26.2%
- Stdev
- +12%
- Beta
- +0.89
- Alpha
- +3%
- Max Drawdown
- -6.9%
- Annualized Perf
- +22%
- Batting Avg vs S&P
- +52.8%
- Sortino
- +3.77
- Stutzer
- +0.51
- Treynor
- +0.23
- Sterling
- +1.47
- Calmar
- +3.17
- Information Ratio
- +0.2
- Tracking Error
- +3.8%
- Stdev Down
- +5.5%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +35.5%
- Worst 12 Months
- +5%
- Efficiency Ratio
- +0.72
- Sharpe
- +1.73
- Stdev Sectors
- +10.3%
- Skewness
- +0.02
- Kurtosis
- -0.31
- Upside Potential
- +5.31
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 234 | $664.1M | 22 | ||
| 2026 Q1 | 229 | $610.3M | 16 | ||
| 2025 Q4 | 226 | $605.3M | 14 | ||
| 2025 Q3 | 242 | $599.2M | 37 | ||
| 2025 Q2 | 189 | $514.6M | 0 | ||
| 2025 Q1 | 191 | $461.0M | 0 | ||
| 2024 Q4 | 285 | $534.9M | 0 | ||
| 2024 Q3 | 206 | $495.5M | 0 | ||
| 2024 Q2 | 200 | $472.9M | 0 | ||
| 2024 Q1 | 211 | $479.8M | 0 | ||
| 2023 Q4 | 209 | $453.7M | 0 | ||
| 2023 Q3 | 207 | $425.5M | 0 | ||
| 2023 Q2 | 209 | $448.3M | 0 | ||
| 2023 Q1 | 190 | $434.2M | 0 | ||
| 2022 Q4 | 208 | $437.0M | 0 | ||
| 2022 Q3 | 205 | $410.1M | 0 | ||
| 2022 Q2 | 339 | $703.6M | 0 | ||
| 2022 Q1 | 348 | $828.1M | 0 | ||
| 2021 Q4 | 357 | $816.3M | 0 | ||
| 2021 Q3 | 343 | $751.7M | 0 | ||
| 2021 Q2 | 353 | $760.5M | — | ||
| 2021 Q1 | 356 | $713.2M | — | ||
| 2020 Q4 | 353 | $678.6M | — | ||
| 2020 Q3 | 339 | $587.9M | — | ||
| 2020 Q2 | 343 | $566.8M | — | ||
| 2020 Q1 | 346 | $485.2M | — | ||
| 2019 Q4 | 351 | $606.7M | — | ||
| 2019 Q3 | 368 | $606.4M | — | ||
| 2019 Q2 | 372 | $604.2M | — | ||
| 2019 Q1 | 363 | $580.0M | — | ||
| 2018 Q4 | 381 | $519.7M | — | ||
| 2018 Q3 | 401 | $596.0M | — | ||
| 2018 Q2 | 391 | $577.3M | — | ||
| 2018 Q1 | 389 | $570.3M | — | ||
| 2017 Q4 | 405 | $613.4M | — | ||
| 2017 Q3 | 406 | $598.8M | — | ||
| 2017 Q2 | 405 | $603.3M | — | ||
| 2017 Q1 | 396 | $597.7M | — | ||
| 2016 Q4 | 381 | $561.9M | — | ||
| 2016 Q3 | 386 | $537.9M | — | ||
| 2016 Q2 | 380 | $532.7M | — | ||
| 2016 Q1 | 388 | $533.0M | — | ||
| 2015 Q4 | 372 | $515.1M | — | ||
| 2015 Q3 | 399 | $531.0M | — | ||
| 2015 Q2 | 409 | $572.7M | — | ||
| 2015 Q1 | 422 | $568.7M | — | ||
| 2014 Q4 | 424 | $551.6M | — | ||
| 2014 Q3 | 419 | $519.4M | — | ||
| 2014 Q2 | 417 | $521.7M | — | ||
| 2014 Q1 | 419 | $517.4M | — | ||
| 2013 Q4 | 437 | $496.2M | — | ||
| 2013 Q3 | 437 | $466.2M | — | ||
| 2013 Q2 | 389 | $449.0M | — |
Holding changes this quarter
Citizens Business Bank's most significant position changes for 2026-06-30: Sold out: Xponential Fitness Inc-a (XPOF); New buy: Ast Spacemobile Inc (ASTS); Sold out: Regeneron Pharmaceuticals (REGN); New buy: Toast Inc-class A (TOST); New buy: Applied Materials Inc (AMAT).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MRVL | Marvell Technology Inc | +1.2% | +0.46% | Add |
| 2 | DELL | Dell Technologies -c | +1.1% | -10.96% | Trim |
| 3 | ASTS | Ast Spacemobile Inc | +1% | NEW | New buy |
| 4 | TOST | Toast Inc-class A | +0.7% | NEW | New buy |
| 5 | PANW | Palo Alto Networks Inc | +0.7% | -1.27% | Trim |
| 6 | PWR | Quanta Services Inc | +0.5% | -1.37% | Trim |
| 7 | AVGO | Broadcom Inc | +0.3% | -1.96% | Trim |
| 8 | SNOW | Snowflake Inc | +0.3% | -3.88% | Trim |
| 9 | EMXC | Ishares Msci Emr Mrk Ex Chna | +0.2% | -6.08% | Trim |
| 10 | GOOGL | Alphabet Inc-cl A | +0.2% | -2.11% | Trim |
| 11 | BROS | Dutch Bros Inc-class A | +0.2% | -2.66% | Trim |
| 12 | IWR | Ishares Russell Mid-cap ETF | +0.2% | -2.48% | Trim |
| 13 | AMAT | Applied Materials Inc | +0.2% | NEW | New buy |
| 14 | NVDA | Nvidia CORP | +0.2% | -2.05% | Trim |
| 15 | CVBF | Cvb Financial CORP | +0.2% | — | Unchanged |
| 16 | PEP | Pepsico Inc | +0.2% | NEW | New buy |
| 17 | AAPL | Apple Inc | +0.1% | -0.49% | Trim |
| 18 | IWM | Ishares Russell 2000 ETF | +0.1% | -3.06% | Trim |
| 19 | POOL | Pool CORP | +0.1% | NEW | New buy |
| 20 | SPY | Ss Spdr S&p 500 ETF Trust-us | +0.1% | +1.50% | Add |
| 21 | GLW | Corning Inc | +0.1% | +0.58% | Add |
| 22 | CSCO | Cisco Systems Inc | +0.1% | +0.56% | Add |
| 23 | GS | Goldman Sachs Group Inc | +0.1% | -2.41% | Trim |
| 24 | GOOG | Alphabet Inc-cl C | +0.1% | +0.28% | Add |
| 25 | CAT | Caterpillar Inc | +0.1% | +0.36% | Add |
| 26 | BAC | Bank Of America CORP | +0.1% | -1.47% | Trim |
| 27 | IJR | Ishares Core S&p Small-cap E | +0.1% | -2.97% | Trim |
| 28 | IBM | Intl Business Machines CORP | +0.1% | +50.31% | Add |
| 29 | WSO | Watsco Inc | +0.1% | +79.10% | Add |
| 30 | AMZN | Amazon.com Inc | +0.1% | -2.49% | Trim |
| 31 | VOO | Vanguard S&p 500 ETF | +0.1% | -2.40% | Trim |
| 32 | HD | Home Depot Inc | +0.1% | +8.33% | Add |
| 33 | LRCX | Lam Research CORP | +0.1% | NEW | New buy |
| 34 | AVDE | Avantis International Equity | +0.1% | NEW | New buy |
| 35 | USB | US Bancorp | 0% | -1.10% | Trim |
| 36 | STX | Seagate Technology Holdings plc | 0% | NEW | New buy |
| 37 | WM | Waste Management Inc | 0% | NEW | New buy |
| 38 | SBUX | Starbucks CORP | 0% | NEW | New buy |
| 39 | JPM | Jpmorgan Chase & Co | 0% | -0.15% | Trim |
| 40 | TRV | Travelers Cos Inc/the | 0% | -1.70% | Trim |
| 41 | CATY | Cathay General Bancorp | 0% | — | Unchanged |
| 42 | IJH | Ishares Core S&p Midcap ETF | 0% | +3.83% | Add |
| 43 | NEU | Newmarket CORP | 0% | NEW | New buy |
| 44 | ANET | Arista Networks Inc | 0% | NEW | New buy |
| 45 | FTNT | Fortinet Inc | 0% | — | Unchanged |
| 46 | ABBV | Abbvie Inc | 0% | -4.34% | Trim |
| 47 | UNP | Union Pacific CORP | 0% | -0.60% | Trim |
| 48 | SHW | Sherwin-williams Co/the | 0% | +4.20% | Add |
| 49 | MDY | State Street Spdr S&p Midcap | 0% | +20.56% | Add |
| 50 | CVS | Cvs Health CORP | 0% | +0.74% | Add |
1–50 of 147
Filing History
FAQ
What is Citizens Business Bank and what type of investor is it?
Citizens Business Bank is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $664.1M, spread across 234 disclosed positions.
What are Citizens Business Bank's largest equity positions?
Based on the latest 13F filing, Citizens Business Bank's top holdings by market value are:
1. Ishares Russell Mid-cap ETF (IWR) — $70.0M (10.5%)
2. Vanguard Ftse Developed ETF (VEA) — $62.6M (9.4%)
3. Nvidia CORP (NVDA) — $35.0M (5.3%)
4. Broadcom Inc (AVGO) — $23.3M (3.5%)
5. Apple Inc (AAPL) — $21.4M (3.2%)
What changes did Citizens Business Bank make in its most recent portfolio filing?
In the latest reported quarter, Citizens Business Bank made 112 notable position adjustments: 12 new positions were initiated, 30 existing holdings were added to, 62 positions were partially reduced, and 8 were completely exited. The largest of these moves: Sold out: Xponential Fitness Inc-a (XPOF); New buy: Ast Spacemobile Inc (ASTS); Sold out: Regeneron Pharmaceuticals (REGN); New buy: Toast Inc-class A (TOST); New buy: Applied Materials Inc (AMAT)
What sectors does Citizens Business Bank focus on?
Citizens Business Bank is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 39.2%
• Financials: 12.9%
• Industrials: 12.1%
• Health Care: 8.3%
• Consumer Discretionary: 8.0%
• Communication Services: 6.3%
Investment Profile
Citizens Business Bank returned an annualized 22.0% over the trailing 36 months — outperforming the S&P 500 by 3.0 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.89 (less volatile than the market) and a 53% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 39.2% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 22 over the past 4 quarters — a shift toward more active trading.
It has added to its DELL position over the past two quarters (+$8.6M, now $13.0M), while trimming PLTR over the same stretch (-$6.4M, still holding $10.8M).
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Developer Access
Access Citizens Business Bank's institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/citizens-business-bankCLI
npx alphasmo institutions get citizens-business-bank