Hills Bank & Trust Co
SEC Form 13F institutional filer · CIK 0001309148
13F-HR · 218 reported holdings · 2026-03-31
Reported long-US-equity value
$1.32B
Top-10 concentration
73.6%
Hills Bank & Trust Co — $1.32B AUM allocation strategy
Hills Bank & Trust Co files SEC Form 13F and reports $1.32B of long US equity value across 218 reported holdings for 2026-03-31.
Its largest sector bet is Financials 32.8%, followed by Information Technology 7.4% and Communication Services 3.1%.
The top 10 holdings account for 74% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
Hills Bank & Trust Co — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$1.32B
total across 218 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
74% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$SPYM +3.14M sh · +$239M+$IVZ +891K sh · +$14.8M+$XLRE +25.9K sh · +$1.07M
Biggest trims (shares)
−$FAST −15.5K sh · +$1.49M−$CMG −13.5K sh · −$734K−$PFE −12.9K sh · −$229K
Exited to nil (held last quarter, gone now)
$WST ($230K last qtr)$UPS ($120K last qtr)$CCI ($120K last qtr)$KMB ($106K last qtr)$GIS ($103K last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Asset Management & Custody Banks24.8%—
- Financial Exchanges & Data6.2%—
- Interactive Media & Services3.1%—
- Semiconductors3.0%—
- Technology Hardware, Storage & Peripherals2.4%—
- Systems Software1.9%—
- Diversified Banks1.2%—
- Trading Companies & Distributors1.2%—
- Other holdings56.1%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
8 of 8 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $IVZ | Invesco Ltd | 17.2M | $329M | +891K | 24.9% |
| $SPGI | S&P Global Inc | 125K | $73.6M | -2.43K | 5.6% |
| $NVDA | NVIDIA Corporation | 227K | $39.5M | -5.72K | 3.0% |
| $GOOGL | Alphabet Inc | 115K | $33M | -2.96K | 2.5% |
| $AAPL | Apple Inc | 128K | $32.6M | +325 | 2.5% |
| $MSFT | Microsoft Corporation | 70.6K | $26.1M | -3.66K | 2.0% |
| $JPM | JP Morgan Chase & Co | 53.8K | $15.8M | -1.99K | 1.2% |
| $FAST | Fastenal Company | 338K | $15.7M | -15.5K | 1.2% |
…and 210 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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