CIK: 0001166928
Total reported value
$200.4M
Reporting period: 2026-03-31 · Number of holdings: 98
WEST BANCORPORATION INC disclosed 98 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $200.4M and a quarterly turnover rate of 13.2%.
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West Bancorporation INC's disclosed holdings carry a Herfindahl concentration index of 0.039 — mathematically equivalent to about 26 equally-sized positions, well below its 98 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 1.68), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 2.3 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 15% 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.
Add VYMI
+25.1% $3.0M
Add VYM
+19.4% $2.5M
Trim MSFT
-0.7% -$1.1M
Add IWR
+18.1% $1.7M
Trim BAM
0.0% -$739.1K
Add IWD
+9.4% $1.6M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IWF | Ishares Russell 1000 Growth | ETF-Other | 7.85% | +0.18% | +19.36% | |
| 2 | IWD | Ishares Russell 1000 Value E | ETF-Other | 7.80% | +0.43% | +9.38% | |
| 3 | VYM | Vanguard High Dvd Yield ETF | ETF-Other | 6.54% | +0.96% | +19.43% | |
| 4 | VYMI | Vanguard Int High Dvd Yld In | ETF-Other | 6.26% | +1.24% | +25.05% | |
| 5 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 5.21% | -0.35% | +3.24% | |
| 6 | IWR | Ishares Russell Mid-cap ETF | ETF-Other | 5.15% | +0.62% | +18.05% | |
| 7 | WTBA | West Bancorporation | Stock-Other | 4.96% | +0.06% | -0.81% | |
| 8 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 4.34% | -0.39% | +0.89% | |
| 9 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 4.11% | -0.42% | — | |
| 10 | VUG | Vanguard Growth ETF | ETF-Other | 3.39% | -0.10% | +14.04% | |
| 11 | VB | Vanguard Small-cap ETF | ETF-Other | 3.09% | — | +3.62% | |
| 12 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 2.75% | +0.03% | +3.41% | |
| 13 | VO | Vanguard Mid-cap ETF | ETF-Other | 2.29% | +0.40% | +28.66% | |
| 14 | AAPL | Apple INC | Stock-Tech | 2.17% | -0.24% | +0.95% | |
| 15 | BAM | Brookfield Asset Mgmt-a | Stock-Financials | 2.06% | -0.50% | — | |
| 16 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 1.74% | -0.21% | — | |
| 17 | MSFT | Microsoft CORP | Stock-Tech | 1.70% | -0.64% | -0.70% | |
| 18 | VTV | Vanguard Value ETF | ETF-Other | 1.53% | — | +2.46% | |
| 19 | VEU | Vanguard Ftse All-world Ex-u | ETF-Other | 1.50% | +0.26% | +23.67% | |
| 20 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 1.37% | — | -5.34% | |
| 21 | ACWI | Ishares Msci Acwi ETF | ETF-Other | 1.23% | +0.05% | +11.90% | |
| 22 | VIG | Vanguard Dividend Apprec ETF | ETF-Other | 1.04% | -0.25% | -13.55% | |
| 23 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.97% | -0.30% | -12.01% | |
| 24 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.91% | -0.14% | -0.08% | |
| 25 | SCHD | Schwab US Dvd Equity ETF | ETF-Other | 0.83% | +0.03% | -1.93% | |
| 26 | NVDA | Nvidia CORP | Stock-Tech | 0.73% | — | +0.14% | |
| 27 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 0.73% | — | -6.27% | |
| 28 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.65% | +0.06% | -0.08% | |
| 29 | AMZN | Amazon.com INC | Stock-Consumer Disc | 0.61% | -0.10% | -0.38% | |
| 30 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.54% | -0.11% | -0.16% | |
| 31 | ABBV | Abbvie INC | Stock-Healthcare | 0.54% | — | -1.50% | |
| 32 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.52% | — | -1.72% | |
| 33 | WMT | Walmart INC | Stock-Consumer Staples | 0.52% | +0.05% | +4.87% | |
| 34 | ADX | Adams Diversified Equity | Stock-Other | 0.51% | — | — | |
| 35 | PFG | Principal Financial Group | Stock-Financials | 0.48% | — | — | |
| 36 | SO | Southern Co/the | Stock-Utilities | 0.47% | +0.09% | +18.48% | |
| 37 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 0.42% | +0.17% | +75.64% | |
| 38 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.40% | — | — | |
| 39 | RPG | Invesco S&p 500 Pure Growth | ETF-Large Cap & Growth | 0.40% | — | — | |
| 40 | WFC | Wells Fargo & Co | Stock-Financials | 0.39% | — | — | |
| 41 | ROST | Ross Stores INC | Stock-Consumer Disc | 0.37% | — | — | |
| 42 | PEP | Pepsico INC | Stock-Consumer Staples | 0.36% | — | -13.42% | |
| 43 | VOOV | Vanguard S&p 500 Value ETF | ETF-Large Cap & Growth | 0.35% | — | — | |
| 44 | JEPI | Jpmorgan Equity Premium Inco | ETF-Other | 0.34% | — | -2.85% | |
| 45 | CSCO | Cisco Systems INC | Stock-Tech | 0.32% | — | -17.47% | |
| 46 | ITOT | Ishares Core S&p Total U.s. | ETF-Other | 0.32% | — | -0.99% | |
| 47 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.31% | -0.09% | -6.16% | |
| 48 | PRF | Invesco Rafi US 1000 ETF | ETF-Other | 0.31% | — | — | |
| 49 | VOT | Vanguard Mid-cap Growth ETF | ETF-Other | 0.30% | — | — | |
| 50 | PFE | Pfizer INC | Stock-Healthcare | 0.28% | — | -7.38% |
Performance for Q3 2026
+4.8%
Performance Last 4 Quarters
+22.5%
Based on 73% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 98 | $200.4M | 13 | |
| 2025-12-31 | 98 | $190.9M | 13 | |
| 2025-09-30 | 110 | $179.9M | 28 | |
| 2025-06-30 | 97 | $158.3M | 0 | |
| 2025-03-31 | 93 | $147.2M | 100 | |
| 2024-12-31 | 95 | $152.2M | 0 | |
| 2024-09-30 | 99 | $149.9M | 0 | |
| 2024-06-30 | 93 | $135.2M | 0 | |
| 2024-03-31 | 101 | $152.1M | 0 | |
| 2023-12-31 | 97 | $154.9M | 0 | |
| 2023-09-30 | 92 | $141.3M | 0 | |
| 2023-06-30 | 96 | $148.9M | 0 | |
| 2023-03-31 | 89 | $131.3M | 0 | |
| 2022-12-31 | 90 | $134.7M | 0 | |
| 2022-09-30 | 264 | $134.7M | 0 | |
| 2022-06-30 | 288 | $142.0M | 0 | |
| 2022-03-31 | 319 | $161.3M | 0 | |
| 2021-12-31 | 315 | $127.3M | 0 | |
| 2020-09-30 | 300 | $85.3M | 18 | |
| 2020-06-30 | 302 | $86.0M | 24 | |
| 2020-03-31 | 272 | $72.0M | 35 | |
| 2019-12-31 | 302 | $99.7M | 0 |
West Bancorporation INC's most significant position changes for 2026-03-31: New buy: Vanguard Small-cap Value ETF (VBR); New buy: Broadcom INC (AVGO); New buy: Ishares Russell Mid-cap Valu (IWS); Sold out: First Trust Enhan Eqty INC (FFA); New buy: Emerson Electric Co (EMR).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | VYMI | Vanguard Int High Dvd Yld In | +1.2% | +25.05% | Add |
| 2 | VYM | Vanguard High Dvd Yield ETF | +1% | +19.43% | Add |
| 3 | IWR | Ishares Russell Mid-cap ETF | +0.6% | +18.05% | Add |
| 4 | IWD | Ishares Russell 1000 Value E | +0.4% | +9.38% | Add |
| 5 | VO | Vanguard Mid-cap ETF | +0.4% | +28.66% | Add |
| 6 | VEU | Vanguard Ftse All-world Ex-u | +0.3% | +23.67% | Add |
| 7 | IWF | Ishares Russell 1000 Growth | +0.2% | +19.36% | Add |
| 8 | RSP | Invesco S&p 500 Equal Weight | +0.2% | +75.64% | Add |
| 9 | XOM | Exxon Mobil CORP | +0.1% | +27.40% | Add |
| 10 | SO | Southern Co/the | +0.1% | +18.48% | Add |
| 11 | CVX | Chevron CORP | +0.1% | +13.83% | Add |
| 12 | WTBA | West Bancorporation | +0.1% | -0.81% | Trim |
| 13 | COST | Costco Wholesale CORP | +0.1% | -0.08% | Trim |
| 14 | FAST | Fastenal Co | +0.1% | +16.76% | Add |
| 15 | ACWI | Ishares Msci Acwi ETF | +0.1% | +11.90% | Add |
| 16 | WMT | Walmart INC | +0.1% | +4.87% | Add |
| 17 | VEA | Vanguard Ftse Developed ETF | 0% | +3.41% | Add |
| 18 | SCHD | Schwab US Dvd Equity ETF | 0% | -1.93% | Trim |
| 19 | VB | Vanguard Small-cap ETF | — | +3.62% | Add |
| 20 | VTV | Vanguard Value ETF | — | +2.46% | Add |
| 21 | LLY | Eli Lilly & Co | -0.1% | -6.16% | Trim |
| 22 | VUG | Vanguard Growth ETF | -0.1% | +14.04% | Add |
| 23 | AMZN | Amazon.com INC | -0.1% | -0.38% | Trim |
| 24 | META | Meta Platforms Inc-class A | -0.1% | -0.16% | Trim |
| 25 | GOOG | Alphabet Inc-cl C | -0.1% | -0.08% | Trim |
| 26 | QQQ | Invesco Qqq Trust Series 1 | -0.2% | — | Unchanged |
| 27 | AAPL | Apple INC | -0.2% | +0.95% | Add |
| 28 | VIG | Vanguard Dividend Apprec ETF | -0.3% | -13.55% | Trim |
| 29 | JPM | Jpmorgan Chase & Co | -0.3% | -12.01% | Trim |
| 30 | VOO | Vanguard S&p 500 ETF | -0.4% | +3.24% | Add |
| 31 | IVV | Ishares Core S&p 500 ETF | -0.4% | +0.89% | Add |
| 32 | SPY | Ss Spdr S&p 500 ETF Trust-us | -0.4% | — | Unchanged |
| 33 | BAM | Brookfield Asset Mgmt-a | -0.5% | — | Unchanged |
| 34 | MSFT | Microsoft CORP | -0.6% | -0.70% | Trim |
| 35 | VBR | Vanguard Small-cap Value ETF | — | NEW | New buy |
| 36 | AVGO | Broadcom INC | — | NEW | New buy |
| 37 | IWS | Ishares Russell Mid-cap Valu | — | NEW | New buy |
| 38 | FFA | First Trust Enhan Eqty INC | — | EXIT | Sold out |
| 39 | EMR | Emerson Electric Co | — | NEW | New buy |
| 40 | CASY | Casey's General Stores INC | — | NEW | New buy |
| 41 | VDE | Vanguard Energy ETF | — | NEW | New buy |
| 42 | EOG | Eog Resources INC | — | NEW | New buy |
| 43 | NOW | Servicenow INC | — | EXIT | Sold out |
| 44 | TSCO | Tractor Supply Company | — | EXIT | Sold out |
| 45 | INTU | Intuit INC | — | EXIT | Sold out |
| 46 | SPGI | S&p Global INC | — | EXIT | Sold out |
| 47 | CDNS | Cadence Design Sys INC | — | EXIT | Sold out |
| 48 | VFH | Vanguard Financials ETF | — | EXIT | Sold out |
| 49 | XLI | Ss Industrial Select Sector | — | NEW | New buy |
| 50 | DIS | Walt Disney Co/the | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-04-23 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-29 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-23 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-24 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-04-25 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-23 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-24 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-26 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-30 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-26 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-30 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-07-31 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-04-14 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-01-30 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-10-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-07-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-04-29 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-08 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-10-30 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-31 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-30 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-10 | 13F-HR | View on EDGAR |
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