Hills Bank & Trust Co

Benefit plan

CIK

1309148

Location

North Liberty, IA

Portfolio Value

Mid $2,349,810,491

Diversification

Diversified

Filing Date

Global Rank

#1,457 / 8,827 ▼ 21

Top Industry

Semiconductors 12.3%

Period ended 4 months ago

Filed Aug 10, 2026 · 3mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Benefit plan

Schedule 13G, Mar 13, 2026

Schedule 13D/13G stakes

Stakes of 5% or more disclosed on Schedule 13D or 13G, each on the filer's latest filing for the security. These are event-dated stakes, not the quarter-end 13F portfolio below.

Company	Schedule	Event date	Filed	Shares	% of class	Change	Status
HBIA Hills Bancorporation	13G/A	Dec 31, 2025	8mo	1,336,814	7.6%	-3,658 since Dec 31, 2024	Current

A 13D or 13G stays in force until its filer amends it and no amendment is due without a material change, so a stake with no filing in 24 months reads unconfirmed, never sold. An amendment reporting under 5% ends the filer's duty to amend, not necessarily the holding. Shares are restated onto today's split basis.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 66.4% of the book (60%+)

Turnover

Low turnover

18.5% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 16.4 quarters (12+), a floor since 35.8% of the book was already held when coverage starts

Closest benchmark: every 13F filer's combined book, active share 71.4%; sector active share 64.5% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

383 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

16.8%

−0.7 pts

Top 5

45.1%

−7.5 pts

Top 10

66.4%

−2.8 pts

HHI

614

Diversified−172

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	77.4%	$1,818,547,055	149
Technology	7.7%	$179,769,014	41
Financial Services	3.1%	$72,091,159	40
Industrials	2.7%	$64,588,818	46
Communication Services	2.3%	$53,113,224	10
Healthcare	2.1%	$49,306,723	31
Consumer Cyclical	1.8%	$42,817,506	15
Consumer Defensive	1.5%	$34,676,606	13
Energy	0.6%	$15,019,584	15
Utilities	0.5%	$11,077,028	14
Basic Materials	0.2%	$4,977,236	5
Real Estate	0.2%	$3,826,538	4

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
FTRB	Federated Hermes Total Return Bond ETF	+2,770,883	5,613,451	$140,869,552
JPIB	JPMorgan International Bond Opportunities ETF	+847,653	1,265,473	$61,185,619
IBDW	iShares iBonds Dec 2031 Term Corporate ETF	+340,379	405,071	$8,441,679
VEA	Vanguard FTSE Developed Markets ETF	+158,939	2,406,484	$171,461,984
IBDV	iShares iBonds Dec 2030 Term Corporate ETF	+128,951	154,851	$3,375,751
IBDU	iShares iBonds Dec 2029 Term Corporate ETF	+108,258	122,688	$2,841,454
VWO	VANGUARD EMERGING MARKETS STOCK INDEX FUND	+94,116	1,219,031	$72,763,959
IBDX	iShares iBonds Dec 2032 Term Corporate ETF	+82,245	92,782	$2,337,178
IBMT	iShares iBonds Dec 2031 Term Muni Bond ETF	+67,308	112,191	$2,894,527
IBMQ	iShares iBonds Dec 2028 Term Muni Bond ETF	+66,699	464,604	$11,884,570
IBDT	iShares iBonds Dec 2028 Term Corporate ETF	+65,566	82,444	$2,081,711
IBMP	iShares iBonds Dec 2027 Term Muni Bond ETF	+64,970	508,428	$12,924,239
IBMS	iShares iBonds Dec 2030 Term Muni Bond ETF	+52,486	67,088	$1,735,566
IBDS	iShares iBonds Dec 2027 Term Corporate ETF	+51,541	102,978	$2,494,127
KLAC	Kla Corp	+36,956	41,043	$12,383,083
BSSX		+28,737	133,998	$3,457,818
BSMW		+28,020	143,604	$3,610,204
SPDW	State Street(R) SPDR(R) Portfolio Developed World ex-US ETF	+26,969	31,024	$1,563,299
BSMY		+23,899	134,061	$3,304,737
IJH	iShares Core S&P Mid-Cap ETF	+17,850	45,428	$3,502,952
IBMR	iShares iBonds Dec 2029 Term Muni Bond ETF	+17,672	72,120	$1,831,126
IEFA	iShares Core MSCI EAFE ETF	+7,477	9,441	$911,811
—		+6,784	80,034	$4,068,127
XLU	State Street(R) Utilities Select Sector SPDR(R) ETF	+6,649	58,934	$2,672,066
XLK	State Street(R) Technology Select Sector SPDR(R) ETF	+5,921	19,674	$3,748,290
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
BSCV		−2,021,485	602,856	$9,877,795
BSCU	Invesco BulletShares 2030 Corporate Bond ETF	−1,573,707	1,047,500	$17,435,637
BSCQ	Invesco BulletShares 2026 Corporate Bond ETF	−1,423,084	1,499,770	$29,283,009
BSCT	Invesco BulletShares 2029 Corporate Bond ETF	−1,405,891	1,046,645	$19,441,430
BSCR	Invesco BulletShares 2027 Corporate Bond ETF	−1,259,054	1,390,074	$27,266,301
BSCS	Invesco BulletShares 2028 Corporate Bond ETF	−1,230,333	1,250,435	$25,471,360
DFIC	Dimensional International Core Equity 2 ETF	−169,240	290,849	$10,837,033
SPYM	State Street(R) SPDR(R) Portfolio S&P 500(R) ETF	−135,435	3,411,823	$299,831,004
BSMV		−119,320	360,323	$7,561,378
SPMD	State Street(R) SPDR(R) Portfolio S&P 400(TM) Mid Cap ETF	−77,650	1,215,987	$82,152,081
AVLC	Avantis U.S. Large Cap Equity ETF	−62,841	1,125,936	$101,289,202
BSMS	Invesco BulletShares 2028 Municipal Bond ETF	−57,111	189,779	$4,448,419
BSMU	Invesco BulletShares 2030 Municipal Bond ETF	−55,714	405,165	$8,880,811
BSMR	Invesco BulletShares 2027 Municipal Bond ETF	−51,707	178,708	$4,224,657
BSMQ	Invesco BulletShares 2026 Municipal Bond ETF	−31,582	137,043	$3,226,677
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	−29,562	330,596	$24,269,051
SPYV	State Street(R) SPDR(R) Portfolio S&P 500(R) Value ETF	−28,893	219,808	$13,362,127
RSPH	Victory Portfolios II	−24,964	48,696	$1,616,219
RSPD	Victory Portfolios II	−12,869	22,623	$1,266,888
GII	State Street(R) SPDR(R) S&P(R) Global Infrastructure ETF	−12,777	749,512	$56,745,552
IBMO	iShares iBonds Dec 2026 Term Muni Bond ETF	−12,049	378,134	$9,695,355
CMG	Chipotle Mexican Grill Inc	−11,230	35,741	$1,215,194
GUNR	FlexShares Morningstar Global Upstream Natural Resources Index Fund	−9,229	503,100	$24,792,767
NKE	NIKE, Inc.	−8,751	26,652	$1,094,064
FAST	Fastenal Co	−8,700	328,990	$15,801,389
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
VBCE	VANGUARD TARGET MATURITY 2031 CORPORATE BOND ETF	358,002	$27,064,951
VBCF	VANGUARD TARGET MATURITY 2032 CORPORATE BOND ETF	355,839	$26,926,336
VBCA	Vanguard Wellesley Income Fund	317,164	$23,999,799
VBCB	VANGUARD TARGET MATURITY 2028 CORPORATE BOND ETF	317,384	$23,994,230
VBCC	VANGUARD TARGET MATURITY 2029 CORPORATE BOND ETF	317,270	$23,979,266
VBCD	VANGUARD TARGET MATURITY 2030 CORPORATE BOND ETF	316,720	$23,921,861
BSCW		181,433	$3,721,190
VCRM	Vanguard Municipal Bond Funds	27,307	$2,086,254
BSMZ		38,693	$991,895
SPEM	State Street(R) SPDR(R) Portfolio Emerging Markets ETF	15,958	$826,305
APH	Amphenol Corp	3,693	$651,149
TSM	Taiwan Semiconductor Manufacturing Co Ltd	1,322	$631,347
IBMU	iShares iBonds Dec 2032 Term Muni Bond ETF	23,716	$603,097
AVDE	Avantis International Equity ETF	6,384	$569,452
IBMV	iShares iBonds Dec 2033 Term Muni Bond ETF	20,820	$529,244
VHT	VANGUARD HEALTH CARE INDEX FUND	1,239	$370,473
VFH	VANGUARD FINANCIALS INDEX FUND	1,990	$261,884
VOX	VANGUARD COMMUNICATION SERVICES INDEX FUND	1,398	$257,162
SCHV	Schwab U.S. Large-Cap Value ETF	7,070	$246,106
IGF	iShares Global Infrastructure ETF	3,675	$244,755
DMXF	iShares ESG Advanced MSCI EAFE ETF	2,859	$241,871
VPU	VANGUARD UTILITIES INDEX FUND	959	$187,705
VCR	VANGUARD CONSUMER DISCRETIONARY INDEX FUND	473	$187,596
VONG	VANGUARD RUSSELL 1000 GROWTH INDEX FUND	1,449	$185,196
ANET	Arista Networks, Inc.	1,075	$182,621
No positions match the current search.

Sold Out

Positions the filer fully exited

17 positions

Ticker	Company	Shares	Value
HON	Honeywell International Inc	6,766	$1,529,318
DD	DuPont de Nemours, Inc.	10,010	$458,457
FEDM	FlexShares ESG & Climate Developed Markets ex-US Core Index Fund	5,971	$349,124
SNPS	Synopsys Inc	514	$203,789
MANH	Manhattan Associates Inc	1,337	$177,980
INTU	Intuit Inc.	385	$166,466
CNH	CNH Industrial N.V.	14,040	$154,440
BSV	VANGUARD SHORT-TERM BOND INDEX FUND	1,777	$139,333
IBTL	iShares iBonds Dec 2031 Term Treasury ETF	5,878	$119,905
KKR	KKR & Co. Inc.	1,293	$119,602
ADBE	Adobe Inc.	489	$118,866
SRE	Sempra	1,139	$110,676
LKQ	Lkq Corp	3,652	$107,259
NVMI	Nova Ltd.	242	$105,095
NE	Noble Corp plc	2,124	$104,224
MDT	Medtronic plc	1,164	$100,860
GEHC	GE HealthCare Technologies Inc.	1,410	$100,362
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

383 tracked positions · $2,349,810,491 total · filing declares 559 positions · $2,349,796,665 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 383 positions by value · page 1 of 8

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
SPYM	State Street(R) SPDR(R) Portfolio S&P 500(R) ETF	Reduced	3,411,823	-135,435	$299,831,004	+10.4%	11	$78.79	12.76%
VEA	Vanguard FTSE Developed Markets ETF	Added	2,406,484	+158,939	$171,461,984	+19.1%	22	$50.11	7.30%
SPY	Spdr S&P 500 ETF Trust	Reduced	207,251	-4,119	$154,768,828	+12.6%	26+	before history	6.59%
FTRB	Federated Hermes Total Return Bond ETF	Added	5,613,451	+2,770,883	$140,869,552	+97.1%	9	$25.01	5.99%
AVLC	Avantis U.S. Large Cap Equity ETF	Reduced	1,125,936	-62,841	$101,289,202	+9.9%	3	$80.08	4.31%
SPMD	State Street(R) SPDR(R) Portfolio S&P 400(TM) Mid Cap ETF	Reduced	1,215,987	-77,650	$82,152,081	+7.2%	11	$50.22	3.50%
MDY	Spdr S&P Midcap 400 ETF Trust	Reduced	111,587	-3,823	$78,483,600	+10.3%	26+	before history	3.34%
VWO	VANGUARD EMERGING MARKETS STOCK INDEX FUND	Added	1,219,031	+94,116	$72,763,959	+19.7%	26+	before history	3.10%
JPIB	JPMorgan International Bond Opportunities ETF	Added	1,265,473	+847,653	$61,185,619	+206.2%	25	unpriced	2.60%
GII	State Street(R) SPDR(R) S&P(R) Global Infrastructure ETF	Reduced	749,512	-12,777	$56,745,552	−2.1%	14	unpriced	2.41%
NVDA	Nvidia Corp Technology	Reduced	222,599	-4,137	$44,539,833	+12.6%	26+	before history	1.90%
GOOG	Alphabet Inc. Communication Services	Reduced	112,114	-2,807	$39,613,239	+20.2%	26+	before history	1.69%
AAPL	Apple Inc. Technology	Reduced	124,984	-3,305	$36,165,369	+11.1%	26+	before history	1.54%
BSCQ	Invesco BulletShares 2026 Corporate Bond ETF	Reduced	1,499,770	-1,423,084	$29,283,009	−48.7%	12	$19.08	1.25%
BSCR	Invesco BulletShares 2027 Corporate Bond ETF	Reduced	1,390,074	-1,259,054	$27,266,301	−47.6%	11	$19.22	1.16%
VBCE	VANGUARD TARGET MATURITY 2031 CORPORATE BOND ETF	NEW	358,002	NEW	$27,064,951	NEW	1	$75.61	1.15%
VBCF	VANGUARD TARGET MATURITY 2032 CORPORATE BOND ETF	NEW	355,839	NEW	$26,926,336	NEW	1	$75.67	1.15%
MSFT	Microsoft Corp Technology	Reduced	69,333	-1,306	$25,862,595	−1.1%	26+	before history	1.10%
BSCS	Invesco BulletShares 2028 Corporate Bond ETF	Reduced	1,250,435	-1,230,333	$25,471,360	−49.7%	11	$19.95	1.08%
GUNR	FlexShares Morningstar Global Upstream Natural Resources Index Fund	Reduced	503,100	-9,229	$24,792,767	−12.3%	26+	before history	1.06%
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	Reduced	330,596	-29,562	$24,269,051	−8.5%	26+	before history	1.03%
VBCA	Vanguard Wellesley Income Fund	NEW	317,164	NEW	$23,999,799	NEW	1	$75.49	1.02%
VBCB	VANGUARD TARGET MATURITY 2028 CORPORATE BOND ETF	NEW	317,384	NEW	$23,994,230	NEW	1	$75.51	1.02%
VBCC	VANGUARD TARGET MATURITY 2029 CORPORATE BOND ETF	NEW	317,270	NEW	$23,979,266	NEW	1	$75.52	1.02%
VBCD	VANGUARD TARGET MATURITY 2030 CORPORATE BOND ETF	NEW	316,720	NEW	$23,921,861	NEW	1	$75.51	1.02%
BSCT	Invesco BulletShares 2029 Corporate Bond ETF	Reduced	1,046,645	-1,405,891	$19,441,430	−57.5%	9	$18.49	0.83%
BSCU	Invesco BulletShares 2030 Corporate Bond ETF	Reduced	1,047,500	-1,573,707	$17,435,637	−60.2%	9	$16.61	0.74%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	52,326	-1,455	$17,127,869	+8.3%	26+	before history	0.73%
EFA	iShares MSCI EAFE ETF	Reduced	153,988	-7,994	$15,996,272	+1.7%	26+	before history	0.68%
FAST	Fastenal Co Industrials	Reduced	328,990	-8,700	$15,801,389	+0.8%	26+	before history	0.67%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	65,869	-25	$15,699,217	+14.4%	26+	before history	0.67%
BSMT	Invesco BulletShares 2029 Municipal Bond ETF	Added	664,948	+5,669	$15,313,752	+0.9%	12	$22.75	0.65%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	101,671	-3,132	$14,909,034	−1.5%	26+	before history	0.63%
SPYV	State Street(R) SPDR(R) Portfolio S&P 500(R) Value ETF	Reduced	219,808	-28,893	$13,362,127	−5.0%	14	unpriced	0.57%
IBMP	iShares iBonds Dec 2027 Term Muni Bond ETF	Added	508,428	+64,970	$12,924,239	+14.6%	12	unpriced	0.55%
PANW	Palo Alto Networks Inc Technology	Reduced	36,872	-489	$12,574,088	+109.9%	26+	before history	0.54%
KLAC	Kla Corp Technology	Added	41,043	+36,956	$12,383,083	+105.8%	26+	before history	0.53%
IBMQ	iShares iBonds Dec 2028 Term Muni Bond ETF	Added	464,604	+66,699	$11,884,570	+17.0%	12	unpriced	0.51%
DFIC	Dimensional International Core Equity 2 ETF	Reduced	290,849	-169,240	$10,837,033	−33.7%	6	$31.92	0.46%
HD	Home Depot, Inc. Consumer Cyclical	Reduced	28,832	-875	$10,168,469	+4.1%	26+	before history	0.43%
BSCV		Reduced	602,856	-2,021,485	$9,877,795	−77.1%	5	$16.60	0.42%
IBMO	iShares iBonds Dec 2026 Term Muni Bond ETF	Reduced	378,134	-12,049	$9,695,355	−3.1%	12	unpriced	0.41%
BSMU	Invesco BulletShares 2030 Municipal Bond ETF	Reduced	405,165	-55,714	$8,880,811	−11.7%	8	$21.91	0.38%
JNJ	Johnson & Johnson Healthcare	Added	34,221	+352	$8,691,106	+5.0%	26+	before history	0.37%
IBDW	iShares iBonds Dec 2031 Term Corporate ETF	Added	405,071	+340,379	$8,441,679	+523.5%	2	unpriced	0.36%
VOO	VANGUARD 500 INDEX FUND	Added	11,860	+125	$8,145,566	+16.2%	20	unpriced	0.35%
MA	Mastercard Inc Financial Services	Reduced	15,409	-538	$7,914,062	−0.7%	26+	before history	0.34%
BSMV		Reduced	360,323	-119,320	$7,561,378	−24.5%	5	$21.01	0.32%
COST	Costco Wholesale Corp Consumer Defensive	Reduced	7,906	-139	$7,395,825	−7.7%	26+	before history	0.31%
IJR	iShares Core S&P Small-Cap ETF	Reduced	49,200	-763	$7,296,851	+17.5%	26+	before history	0.31%

Showing the top 50 of 383 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.