CS
City State Bank 13F Portfolio Snapshot & Holdings (Q3 2026)
City State BankCIK: 0001910666
Diversified strategyMomentum followerLong-term holder
Total reported value
$440.9M
Reporting period: 2026-09-30 · Number of holdings: 864
City State Bank disclosed 864 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $440.9M and a quarterly turnover rate of 13.0%.
Browse other institutions with $100M to $1B AUMBrowse other institutions starting with "C"
Personality snowflake
- Concentration
- 5.91
- Portfolio Stability
- 13.02
- Momentum
- 100
- Sector conviction
- 69.34
- Diversification
- 100
- Sizing Uniformity
- 65.69
City State Bank's disclosed holdings carry a Herfindahl concentration index of 0.015 — mathematically equivalent to about 68 equally-sized positions, well below its 864 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 3.43), 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 38% 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.govNew buy 25239Y196
Sold out DUHP
Add MSFT
+1.6% $2.6M
Add AAPL
-2.7% $2.0M
Add STIP
+31.8% $1.9M
Trim SPY
-52.1% -$1.7M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 864 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AAPL | Apple Inc | Stock-Tech | 4.24% | +0.41% | -2.71% | |
| 2 | DFCF | Dimensional Core Fixed Inc | ETF-Other | 3.74% | -0.06% | +4.73% | |
| 3 | DFSD | Dimensional Short Duration | ETF-Other | 3.31% | +0.20% | +10.54% | |
| 4 | BIV | Vanguard Intermediate-term B | ETF-Other | 3.10% | -0.21% | -0.20% | |
| 5 | MU | Micron Technology Inc | Stock-Tech | 3.09% | -0.35% | -1.84% | |
| 6 | BSV | Vanguard Short-term Bond ETF | ETF-Other | 2.62% | -0.04% | +1.28% | |
| 7 | VIG | Vanguard Dividend Apprec ETF | ETF-Other | 2.59% | +0.03% | +3.37% | |
| 8 | VYM | Vanguard High Dvd Yield ETF | ETF-Other | 2.41% | +0.03% | +4.04% | |
| 9 | DFAT | Dimensional US Target Value | ETF-Other | 2.17% | -0.10% | +1.64% | |
| 10 | VWOB | Vanguard Emerg Mkts Gov Bnd | ETF-Other | 2.11% | -0.04% | +5.60% | |
| 11 | MSFT | Microsoft CORP | Stock-Tech | 2.05% | +0.57% | +1.63% | |
| 12 | VUG | Vanguard Growth ETF | ETF-Other | 1.94% | +0.36% | +18.20% | |
| 13 | STIP | Ishares 0-5 Year Tips Bond E | ETF-Other | 1.89% | +0.40% | +31.78% | |
| 14 | NVDA | Nvidia CORP | Stock-Tech | 1.84% | +0.22% | +0.82% | |
| 15 | BND | Vanguard Total Bond Market | ETF-Other | 1.78% | -0.13% | -1.35% | |
| 16 | AGG | Ishares Core U.s. Aggregate | ETF-Other | 1.61% | -0.10% | -0.41% | |
| 17 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.55% | -0.10% | -1.50% | |
| 18 | DFAI | Dimensional International Co | ETF-Other | 1.46% | +0.09% | +7.45% | |
| 19 | BNDX | Vanguard Total Intl Bond ETF | ETF-Other | 1.46% | -0.04% | +1.34% | |
| 20 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.39% | -0.16% | -9.09% | |
| 21 | IGIB | Ishares 5-10y Inv Grade CORP | ETF-Corp Bonds | 1.37% | -0.03% | +4.15% | |
| 22 | DFGP | Dimensional Glbl Core Pl Fix | ETF-Other | 1.29% | +0.07% | +11.93% | |
| 23 | ✓ | Stock-Other | 1.24% | +1.24% | NEW | ||
| 24 | DFIV | Dimensional International Va | ETF-Other | 1.21% | +0.06% | +3.33% | |
| 25 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.17% | +0.05% | +0.44% | |
| 26 | VTV | Vanguard Value ETF | ETF-Other | 1.12% | -0.04% | -1.19% | |
| 27 | EBND | State Street Spdr Bloomberg | ETF-Other | 1.10% | +0.04% | +6.66% | |
| 28 | DFAC | Dimensional US Core Equity 2 | ETF-Other | 1.07% | +0.12% | +13.55% | |
| 29 | DFAE | Dimensional Emerging Core Eq | ETF-Emerging Markets | 1.06% | +0.04% | +7.25% | |
| 30 | DFLV | Dim US Large Cap Value ETF | ETF-Large Cap & Growth | 0.89% | +0.08% | +9.12% | |
| 31 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.88% | -0.01% | +4.59% | |
| 32 | VO | Vanguard Mid-cap ETF | ETF-Other | 0.88% | -0.05% | -2.13% | |
| 33 | VGT | Vanguard Info Tech ETF | ETF-Tech | 0.86% | +0.09% | +6.72% | |
| 34 | DFIP | Dimensional Inflation-protec | ETF-Other | 0.85% | +0.12% | +22.91% | |
| 35 | VFH | Vanguard Financials ETF | ETF-Other | 0.80% | -0.03% | -1.66% | |
| 36 | DIHP | Dimensional International Hi | ETF-Other | 0.80% | +0.09% | +14.78% | |
| 37 | VB | Vanguard Small-cap ETF | ETF-Other | 0.76% | — | +7.55% | |
| 38 | CAT | Caterpillar Inc | Stock-Industrials | 0.70% | -0.24% | -1.54% | |
| 39 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.68% | -0.06% | -3.93% | |
| 40 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.68% | +0.03% | +0.36% | |
| 41 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.64% | -0.01% | -0.74% | |
| 42 | ABBV | Abbvie Inc | Stock-Healthcare | 0.54% | +0.01% | -0.01% | |
| 43 | AMD | Advanced Micro Devices | Stock-Tech | 0.54% | +0.01% | -3.00% | |
| 44 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.53% | +0.16% | +11.34% | |
| 45 | RTX | Rtx CORP | Stock-Industrials | 0.52% | -0.02% | -0.85% | |
| 46 | VWO | Vanguard Ftse Emerging Marke | ETF-Emerging Markets | 0.50% | -0.02% | -2.29% | |
| 47 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 0.48% | +0.05% | +9.16% | |
| 48 | IAGG | Ishares Intl Aggregate Bond | ETF-Other | 0.47% | -0.01% | +0.48% | |
| 49 | VHT | Vanguard Health Care ETF | ETF-Other | 0.46% | -0.01% | -5.34% | |
| 50 | MRK | Merck & Co. Inc. | Stock-Healthcare | 0.46% | +0.05% | -0.23% |
1–50 of 200
Portfolio Performance
Performance for Q4 2026
+1.2%
Performance Last 4 Quarters
+14.4%
- Stdev
- +9%
- Beta
- +0.67
- Alpha
- +2.8%
- Max Drawdown
- -4.2%
- Annualized Perf
- +18.8%
- Batting Avg vs S&P
- +33.3%
- Sortino
- +4.22
- Stutzer
- +0.57
- Treynor
- +0.27
- Sterling
- +1.36
- Calmar
- +4.43
- Information Ratio
- -0.83
- Tracking Error
- +5.4%
- Stdev Down
- +4.2%
- Winning Months %
- +77.8%
- Losing Months %
- +22.2%
- Best 12 Months
- +26.9%
- Worst 12 Months
- +8.2%
- Efficiency Ratio
- +0.75
- Sharpe
- +1.98
- Stdev Sectors
- +11.3%
- Skewness
- -0.26
- Kurtosis
- -0.05
- Upside Potential
- +5.68
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 864 | $440.9M | 13 | ||
| 2026 Q2 | 809 | $436.4M | 17 | ||
| 2026 Q1 | 784 | $385.3M | 12 | ||
| 2025 Q4 | 767 | $365.1M | 10 | ||
| 2025 Q3 | 742 | $346.2M | 19 | ||
| 2025 Q2 | 748 | $319.0M | 0 | ||
| 2025 Q1 | 752 | $303.4M | 0 | ||
| 2024 Q4 | 727 | $283.5M | 0 | ||
| 2024 Q3 | 740 | $274.4M | 0 | ||
| 2024 Q2 | 730 | $244.9M | 0 | ||
| 2024 Q1 | 711 | $226.5M | 0 | ||
| 2023 Q4 | 680 | $199.5M | 0 | ||
| 2023 Q3 | 730 | $181.5M | 0 | ||
| 2023 Q2 | 703 | $185.3M | 0 | ||
| 2023 Q1 | 684 | $174.8M | 0 | ||
| 2022 Q4 | 653 | $162.5M | 0 | ||
| 2022 Q3 | 701 | $142.9M | 0 | ||
| 2022 Q2 | 702 | $143.4M | 0 | ||
| 2022 Q1 | 676 | $165.5M | 0 | ||
| 2021 Q4 | 667 | $162.3M | 0 |
Holding changes this quarter
City State Bank's most significant position changes for 2026-09-30: New buy: ; Sold out: Dimensional US High Profi Et (DUHP); New buy: ; Sold out: Exxon Mobil CORP (XOM); New buy: .
Showing top 200 changes by size (of 897 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ✓ | +1.2% | NEW | New buy | |
| 2 | MSFT | Microsoft CORP | +0.6% | +1.63% | Add |
| 3 | AAPL | Apple Inc | +0.4% | -2.71% | Trim |
| 4 | STIP | Ishares 0-5 Year Tips Bond E | +0.4% | +31.78% | Add |
| 5 | VUG | Vanguard Growth ETF | +0.4% | +18.20% | Add |
| 6 | ✓ | +0.3% | NEW | New buy | |
| 7 | NVDA | Nvidia CORP | +0.2% | +0.82% | Add |
| 8 | DFSD | Dimensional Short Duration | +0.2% | +10.54% | Add |
| 9 | META | Meta Platforms Inc-class A | +0.2% | +11.34% | Add |
| 10 | ✓ | +0.1% | NEW | New buy | |
| 11 | DFAC | Dimensional US Core Equity 2 | +0.1% | +13.55% | Add |
| 12 | DFIP | Dimensional Inflation-protec | +0.1% | +22.91% | Add |
| 13 | CRWD | Crowdstrike Holdings Inc - A | +0.1% | +306.82% | Add |
| 14 | DFAI | Dimensional International Co | +0.1% | +7.45% | Add |
| 15 | DIHP | Dimensional International Hi | +0.1% | +14.78% | Add |
| 16 | VGT | Vanguard Info Tech ETF | +0.1% | +6.72% | Add |
| 17 | VYMI | Vanguard Int High Dvd Yld In | +0.1% | +69.55% | Add |
| 18 | DFLV | Dim US Large Cap Value ETF | +0.1% | +9.12% | Add |
| 19 | DFGP | Dimensional Glbl Core Pl Fix | +0.1% | +11.93% | Add |
| 20 | DFIV | Dimensional International Va | +0.1% | +3.33% | Add |
| 21 | CVX | Chevron CORP | +0.1% | +2.71% | Add |
| 22 | NTAP | Netapp Inc | +0.1% | -2.40% | Trim |
| 23 | AMZN | Amazon.com Inc | +0.1% | +0.44% | Add |
| 24 | MRK | Merck & Co. Inc. | +0.1% | -0.23% | Trim |
| 25 | VLO | Valero Energy CORP | +0.1% | +2.99% | Add |
| 26 | VOO | Vanguard S&p 500 ETF | +0.1% | +9.16% | Add |
| 27 | IBIT | Ishares Bitcoin Trust ETF | +0.1% | -4.32% | Trim |
| 28 | EBND | State Street Spdr Bloomberg | 0% | +6.66% | Add |
| 29 | DFAE | Dimensional Emerging Core Eq | 0% | +7.25% | Add |
| 30 | SPEM | State Street Sp Ptf Em ETF | 0% | +16.38% | Add |
| 31 | MPC | Marathon Petroleum CORP | 0% | — | Unchanged |
| 32 | VYM | Vanguard High Dvd Yield ETF | 0% | +4.04% | Add |
| 33 | VIG | Vanguard Dividend Apprec ETF | 0% | +3.37% | Add |
| 34 | ✓ | 0% | NEW | New buy | |
| 35 | ADP | Automatic Data Processing | 0% | — | Unchanged |
| 36 | JNJ | Johnson & Johnson | 0% | +0.36% | Add |
| 37 | HOOD | Robinhood Markets Inc - A | 0% | +78.13% | Add |
| 38 | ETHA | Ishares Ethereum Trust ETF | 0% | -3.11% | Trim |
| 39 | GILD | Gilead Sciences Inc | 0% | +10.06% | Add |
| 40 | DE | Deere & Co | 0% | +0.99% | Add |
| 41 | VCSH | Vanguard S/t CORP Bond ETF | 0% | +10.89% | Add |
| 42 | AMGN | Amgen Inc | 0% | -3.61% | Trim |
| 43 | SLS | Sellas Life Sciences Group I | 0% | NEW | New buy |
| 44 | PFE | Pfizer Inc | 0% | -3.69% | Trim |
| 45 | CRCL | Circle Internet Group Inc | 0% | +500.00% | Add |
| 46 | IBB | Ishares Biotechnology ETF | 0% | -5.29% | Trim |
| 47 | PSX | Phillips 66 | 0% | +16.04% | Add |
| 48 | FCX | Freeport-mcmoran Inc | 0% | +769.23% | Add |
| 49 | ABBV | Abbvie Inc | 0% | -0.01% | Trim |
| 50 | MGK | Vanguard Mega Cap Growth ETF | 0% | +1.54% | Add |
1–50 of 200
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Filing History
FAQ
What is City State Bank and what type of investor is it?
City State 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 (2026-09-30), the firm manages a tracked equity portfolio valued at approximately $440.9M, spread across 864 disclosed positions.
What are City State Bank's largest equity positions?
Based on the latest 13F filing, City State Bank's top holdings by market value are:
1. Apple Inc (AAPL) — $18.7M (4.2%)
2. Dimensional Core Fixed Inc (DFCF) — $16.5M (3.7%)
3. Dimensional Short Duration (DFSD) — $14.6M (3.3%)
4. Vanguard Intermediate-term B (BIV) — $13.7M (3.1%)
5. Micron Technology Inc (MU) — $13.6M (3.1%)
What changes did City State Bank make in its most recent portfolio filing?
In the latest reported quarter, City State Bank made 174 notable position adjustments: 13 new positions were initiated, 71 existing holdings were added to, 85 positions were partially reduced, and 5 were completely exited. The largest of these moves: New buy: ; Sold out: Dimensional US High Profi Et (DUHP); New buy: ; Sold out: Exxon Mobil CORP (XOM); New buy:
What sectors does City State Bank focus on?
City State Bank is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 43.2%
• Health Care: 9.9%
• Industrials: 9.6%
• Financials: 9.4%
• Consumer Discretionary: 8.4%
• Communication Services: 7.1%
Investment Profile
City State Bank returned an annualized 18.8% over the trailing 36 months — outperforming the S&P 500 by 2.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.67 (less volatile than the market) and a 33% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 43.2% of the portfolio concentrated in Information Technology.
It has added to its AAPL position over the past two quarters (+$3.8M, now $18.7M), while trimming LNT over the same stretch (-$4.1M, still holding $1.1M).
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Developer Access
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