Institutional Manager · CIK 0001166928

WEST BANCORPORATION INC

WEST DES MOINES, IA · File #028-19827

Latest AUM

$190.9M

Positions

Top-10 Concentration

58.0%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
NEW	ISHARES MSCI ACWI Index Fund	464288257	+15,980	+$2.3M	$0
ADD	Invesco Qqq Trust	IVZ	+2,648	+$1.6M	+$47,438
ADD	Vanguard Index FDS	922908736	+3,265	+$1.6M	+$85,586
ADD	Vanguard Whitehall FDS	921946794	+13,823	+$1.2M	+$493,302
ADD	Vanguard Whitehall FDS	921946406	+7,461	+$1.1M	+$171,365
ADD	ISHARES TR	464287598	+4,173	+$877,749	+$423,116
EXITED	Pacer FDS TR	69374H857	-18,480	-$809,054	$0
ADD	Vanguard Index FDS	922908363	+1,084	+$679,809	+$233,729
ADD	Vanguard Index FDS	922908629	+2,330	+$676,213	-$35,461
ADD	Vanguard Tax-Managed FDS	921943858	+10,205	+$637,506	+$186,061

Sector Allocation

Financials

9.4%$17.9M

Technology

6.8%$12.9M

Consumer Discretionary

1.7%$3.2M

Healthcare

1.6%$3.1M

Consumer Staples

1.2%$2.3M

Communication Services

0.7%$1.2M

0.4%$722,452

0.3%$646,486

0.3%$588,076

0.1%$290,240

Filing History

Jan 29, 202613F HOLDINGS REPORTQ/E Dec 202598 pos · $190.9M
Oct 23, 202513F HOLDINGS REPORTQ/E Sep 2025110 pos · $179.9M
Jul 24, 202513F HOLDINGS REPORTQ/E Jun 202597 pos · $158.3M
Apr 25, 202513F HOLDINGS REPORTQ/E Mar 202593 pos · $147.2M
Jan 23, 202513F HOLDINGS REPORTQ/E Dec 202495 pos · $152.2M
Oct 24, 202413F HOLDINGS REPORTQ/E Sep 202499 pos · $149.9M
Jul 26, 202413F HOLDINGS REPORTQ/E Jun 202493 pos · $135.2M
Apr 30, 202413F HOLDINGS REPORTQ/E Mar 2024101 pos · $152.1M
Oct 30, 202313F HOLDINGS REPORTQ/E Dec 202392 pos · $141.3M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	ISHARES TR	464287614	30,920	$14.6M	8.33%
2	ISHARES TR	464287598	66,857	$14.1M	8.00%
3	Vanguard Whitehall FDS	921946406	74,140	$10.6M	6.05%
4	Vanguard Index FDS	922908363	16,930	$10.6M	6.04%
5	Vanguard Whitehall FDS	921946794	106,549	$9.6M	5.46%
6	West Bancorporation INC	WTBA	421,561	$9.4M	5.32%
7	ISHARES TR	464287200	13,185	$9.0M	5.14%
8	ISHARES TR	464287499	89,854	$8.7M	4.92%
9	SPDR S&P 500 EFT Trust	SPY	12,676	$8.6M	4.92%
10	Vanguard Index FDS	922908736	13,639	$6.7M	3.79%
11	Vanguard Index FDS	922908751	22,844	$5.9M	3.35%
12	Vanguard Tax-Managed FDS	921943858	83,170	$5.2M	2.96%
13	Brookfield Asset Management Ltd Mngmt A	113004105	93,091	$4.9M	2.77%
14	Apple INC	AAPL	16,948	$4.6M	2.62%
15	Microsoft Corp	MSFT	9,248	$4.5M	2.54%
16	Invesco Qqq Trust	IVZ	6,051	$3.7M	2.11%
17	Vanguard Index FDS	922908629	12,404	$3.6M	2.05%
18	Vanguard Index FDS	922908744	15,275	$2.9M	1.66%
19	ISHARES TR	464287655	11,712	$2.9M	1.64%
20	Vanguard specialized Funds	921908844	11,232	$2.5M	1.40%