Hills Bank & Trust Co

hedge fundUpdated 31 days ago

Managed by Hills Bank & Trust Co • Latest filing Q2 2026

Portfolio value

$2.3B

Q2 2026

Filings

13

Quarterly 13F history

Top-10 concentration

51.5%

Weight of largest holdings

Annualized return

44.6%

Implied from 13F holdings

Portfolio value history

13F-disclosed portfolio value over 13 quarters

Show data table

Period	Portfolio value
Q2 2023	$777.6M
Q3 2023	$860.9M
Q4 2023	$1B
Q1 2024	$1.2B
Q2 2024	$1.2B
Q3 2024	$1.3B
Q4 2024	$1.3B
Q1 2025	$1.4B
Q2 2025	$1.6B
Q3 2025	$1.7B
Q4 2025	$1.7B
Q1 2026	$2.1B
Q2 2026	$2.3B

Top holdings

559 positions as of Q2 2026

#	Stock	Value	Shares	% Portfolio	Change
1	S STT-PG SPDR SERIES TRUST	$299.5M	3.41M	12.74%	Trimmed(-3.8%)
2	V VGES VANGUARD TAX-MANAGED FDS	$171.2M	2.40M	7.29%	Added(+7.1%)
3	S SPY STATE STR SPDR S&P 500 ETF T	$149M	199.6K	6.34%	Trimmed(-2.0%)
4	F FMN FEDERATED HERMES ETF TRUST	$140.8M	5.61M	5.99%	Added(+97.3%)
5	? N/A AMERICAN CENTY ETF TR	$101.2M	1.12M	4.31%	Trimmed(-5.3%)
6	S STT-PG SPDR SERIES TRUST	$82.1M	1.21M	3.49%	Trimmed(-6.0%)
7	M MDY STATE STR SPDR S&P MIDCAP 40	$77M	109.4K	3.28%	Trimmed(-3.7%)
8	V VGES VANGUARD INTL EQUITY INDEX F	$72.5M	1.21M	3.08%	Added(+8.4%)
9	J JPM-PM J P MORGAN EXCHANGE TRADED F	$61.1M	1.26M	2.60%	Added(+202.7%)
10	? N/A SPDR INDEX SHS FDS	$56.7M	748.7K	2.41%	Trimmed(-1.7%)
11	N NVDA NVIDIA CORPORATION	$43.9M	219.5K	1.87%	Trimmed(-2.6%)
12	G GOOGN ALPHABET INC	$35.3M	100.0K	1.50%	Trimmed(-3.6%)
13	A AAPL APPLE INC	$34.9M	120.6K	1.49%	Trimmed(-3.6%)
14	? N/A INVESCO EXCH TRD SLF IDX FD	$29.3M	1.50M	1.25%	Trimmed(-48.7%)
15	? N/A INVESCO EXCH TRD SLF IDX FD	$27.3M	1.39M	1.16%	Trimmed(-47.5%)
16	? N/A VANGUARD WELLESLEY INCOME FD	$27M	357.6K	1.15%	—
17	? N/A VANGUARD WELLESLEY INCOME FD	$26.9M	355.5K	1.14%	—
18	? N/A INVESCO EXCH TRD SLF IDX FD	$25.5M	1.25M	1.08%	Trimmed(-49.6%)
19	F FITB-PK FLEXSHARES TR	$24.8M	502.3K	1.05%	Trimmed(-1.8%)
20	? N/A VANGUARD WELLESLEY INCOME FD	$24M	316.8K	1.02%	—

S

SPDR SERIES TRUST

-3.8%

Value

$299.5M

Shares

3.41M

% Port

12.74%

V

VANGUARD TAX-MANAGED FDS

+7.1%

Value

$171.2M

Shares

2.40M

% Port

7.29%

S

STATE STR SPDR S&P 500 ETF T

-2.0%

Value

$149M

Shares

199.6K

% Port

6.34%

F

FEDERATED HERMES ETF TRUST

+97.3%

Value

$140.8M

Shares

5.61M

% Port

5.99%

?

5.N/A

AMERICAN CENTY ETF TR

-5.3%

Value

$101.2M

Shares

1.12M

% Port

4.31%

S

SPDR SERIES TRUST

-6.0%

Value

$82.1M

Shares

1.21M

% Port

3.49%

M

STATE STR SPDR S&P MIDCAP 40

-3.7%

Value

$77M

Shares

109.4K

% Port

3.28%

V

VANGUARD INTL EQUITY INDEX F

+8.4%

Value

$72.5M

Shares

1.21M

% Port

3.08%

J

J P MORGAN EXCHANGE TRADED F

+202.7%

Value

$61.1M

Shares

1.26M

% Port

2.60%

?

10.N/A

SPDR INDEX SHS FDS

-1.7%

Value

$56.7M

Shares

748.7K

% Port

2.41%

N

NVIDIA CORPORATION

-2.6%

Value

$43.9M

Shares

219.5K

% Port

1.87%

G

ALPHABET INC

-3.6%

Value

$35.3M

Shares

100.0K

% Port

1.50%

A

APPLE INC

-3.6%

Value

$34.9M

Shares

120.6K

% Port

1.49%

?

14.N/A

INVESCO EXCH TRD SLF IDX FD

-48.7%

Value

$29.3M

Shares

1.50M

% Port

1.25%

?

15.N/A

INVESCO EXCH TRD SLF IDX FD

-47.5%

Value

$27.3M

Shares

1.39M

% Port

1.16%

?

16.N/A

VANGUARD WELLESLEY INCOME FD

Value

$27M

Shares

357.6K

% Port

1.15%

?

17.N/A

VANGUARD WELLESLEY INCOME FD

Value

$26.9M

Shares

355.5K

% Port

1.14%

?

18.N/A

INVESCO EXCH TRD SLF IDX FD

-49.6%

Value

$25.5M

Shares

1.25M

% Port

1.08%

F

FLEXSHARES TR

-1.8%

Value

$24.8M

Shares

502.3K

% Port

1.05%

?

20.N/A

VANGUARD WELLESLEY INCOME FD

Value

$24M

Shares

316.8K

% Port

1.02%

View full portfolio (559 holdings) →

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