Hills Bank & Trust Co
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 10, 2026), Hills Bank & Trust Co reported 383 stock positions worth $2.3 billion. Its top holding was Ste STR SPDR PT S&P 500 ETF (SPYM) at 12.8% of the portfolio, followed by Vanguard Ftse Developed ETF (VEA, 7.3%) and SS SPDR S&P 500 ETF Trust-US (SPY, 6.6%). Compared with Q1 2026, it opened 45 new positions, sold out of 17, added to 109 and reduced 158. The biggest buy was Fed Hermes TTL RTRN BND (FTRB, shares +97%) and the biggest sale Invesco Bulletshares 2031 CB (BSCV, shares −77%).
- Most Recent 13F
- Q2 2026
- Location
- North Liberty, IA
- CIK
- 0001309148
- Portfolio Value
- $2.3B (Q2 2026)
- SEC Filing
- 0001309148-26-000015 ↗ filed Aug 10, 2026
Holdings Value
Holdings 383 stocks · $2.3B
| SPYM Ste STR SPDR PT S&P 500 ETF | 12.76% | 3,411,823 | $299.8M | Reduce -3.8% |
| VEA Vanguard Ftse Developed ETF | 7.30% | 2,406,484 | $171.5M | Add +7.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 6.59% | 207,251 | $154.8M | Reduce -1.9% |
| FTRB Fed Hermes TTL RTRN BND | 6.00% | 5,613,451 | $140.9M | Add +97.5% |
| AVLC Avantis US LG Cap Eq ETF | 4.31% | 1,125,936 | $101.3M | Reduce -5.3% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 3.50% | 1,215,987 | $82.2M | Reduce -6.0% |
| MDY State Street SPDR S&P Midcap | 3.34% | 111,587 | $78.5M | Reduce -3.3% |
| VWO Vanguard Ftse Emerging Marke | 3.10% | 1,219,031 | $72.8M | Add +8.4% |
| JPIB JPMorgan Intl BND ETF | 2.60% | 1,265,473 | $61.2M | Add +202.9% |
| GII State Street SPDR S&P Global | 2.41% | 749,512 | $56.7M | Reduce -1.7% |
| NVDA Nvidia Corp. | 1.90% | 222,599 | $44.5M | Reduce -1.8% |
| GOOG Alphabet Inc. Class C | 1.69% | 112,114 | $39.6M | Reduce -2.4% |
| AAPL Apple Inc. | 1.54% | 124,984 | $36.2M | Reduce -2.6% |
| BSCQ Invesco Bulletshares 2026 CB | 1.25% | 1,499,770 | $29.3M | Reduce -48.7% |
| BSCR Invesco Bulletshares 2027 CB | 1.16% | 1,390,074 | $27.3M | Reduce -47.5% |
| VBCE Vangrd TRGT Mat 2031 CB ETF | 1.15% | 358,002 | $27.1M | New |
| VBCF Vangrd TRGT Mat 2032 CB ETF | 1.15% | 355,839 | $26.9M | New |
| MSFT Microsoft Corp. | 1.10% | 69,333 | $25.9M | Reduce -1.9% |
| BSCS Invesco Bulletshares 2028 CB | 1.08% | 1,250,435 | $25.5M | Reduce -49.6% |
| GUNR NT Mstar GLBL NR ETF | 1.06% | 503,100 | $24.8M | Reduce -1.8% |
| BND Vanguard Total Bond Market | 1.03% | 330,596 | $24.3M | Reduce -8.2% |
| VBCA Vangrd TRGT Mat 2027 CB ETF | 1.02% | 317,164 | $24.0M | New |
| VBCB Vangrd TRGT Mat 2028 CB ETF | 1.02% | 317,384 | $24.0M | New |
| VBCC Vangrd TRGT Mat 2029 CB ETF | 1.02% | 317,270 | $24.0M | New |
| VBCD Vangrd TRGT Mat 2030 CB ETF | 1.02% | 316,720 | $23.9M | New |
| BSCT Invesco Bulletshares 2029 CB | 0.83% | 1,046,645 | $19.4M | Reduce -57.3% |
| BSCU Invesco Bulletshares 2030 CB | 0.74% | 1,047,500 | $17.4M | Reduce -60.0% |
| JPM JPMorgan Chase & Co. | 0.73% | 52,326 | $17.1M | Reduce -2.7% |
| EFA iShares MSCI Eafe ETF | 0.68% | 153,988 | $16.0M | Reduce -4.9% |
| FAST Fastenal Co. | 0.67% | 328,990 | $15.8M | Reduce -2.6% |
| AMZN Amazon.com Inc. | 0.67% | 65,869 | $15.7M | Reduce -0.0% |
| BSMT Invesco Bulletshares 2029 MB | 0.65% | 664,948 | $15.3M | Add +0.9% |
| PG The Procter & Gamble Co. | 0.63% | 101,671 | $14.9M | Reduce -3.0% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.57% | 219,808 | $13.4M | Reduce -11.6% |
| IBMP iShares Ibonds Dec 2027 Term | 0.55% | 508,428 | $12.9M | Add +14.7% |
| PANW Palo Alto Networks Inc. | 0.54% | 36,872 | $12.6M | Reduce -1.3% |
| KLAC KLA Corp. | 0.53% | 41,043 | $12.4M | Add +0.4% |
| IBMQ iShares Ibonds Dec 2028 Muni | 0.51% | 464,604 | $11.9M | Add +16.8% |
| DFIC Dimensional International Co. | 0.46% | 290,849 | $10.8M | Reduce -36.8% |
| HD Home Depot Inc. | 0.43% | 28,832 | $10.2M | Reduce -3.0% |
| BSCV Invesco Bulletshares 2031 CB | 0.42% | 602,856 | $9.9M | Reduce -77.0% |
| IBMO iShares Ibonds Dec 2026 Term | 0.41% | 378,134 | $9.7M | Reduce -3.1% |
| BSMU Invesco Bulletshares 2030 MB | 0.38% | 405,165 | $8.9M | Reduce -12.1% |
| JNJ Johnson & Johnson | 0.37% | 34,221 | $8.7M | Add +1.0% |
| IBDW iShares Ibonds Dec 2031 Corp. | 0.36% | 405,071 | $8.4M | Add +526.1% |
| VOO Vanguard S&P 500 ETF | 0.35% | 11,860 | $8.1M | Add +1.1% |
| MA Mastercard Inc. Class A | 0.34% | 15,409 | $7.9M | Reduce -3.4% |
| BSMV Invesco Bulletshares 2031 MB | 0.32% | 360,323 | $7.6M | Reduce -24.9% |
| COST Costco Wholesale Corp. | 0.31% | 7,906 | $7.4M | Reduce -1.7% |
| IJR iShares Core S&P Small-Cap E | 0.31% | 49,200 | $7.3M | Reduce -1.5% |
| META Meta Platforms Inc. Class A | 0.30% | 12,657 | $7.1M | Reduce -2.4% |
| ITW Illinois Tool Works | 0.26% | 22,862 | $6.2M | Reduce -0.8% |
| XOM Exxon Mobil Corp. | 0.25% | 43,320 | $5.9M | Add +0.2% |
| CSCO Cisco Systems Inc. | 0.25% | 49,664 | $5.8M | Reduce -2.3% |
| AMD Advanced Micro Devices | 0.24% | 9,736 | $5.7M | Reduce -1.5% |
| ICE Intercontinental Exchange Inc. | 0.24% | 45,864 | $5.6M | Reduce -4.0% |
| LNT Alliant Energy Corp. | 0.23% | 71,281 | $5.4M | Reduce -0.6% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.23% | 35,052 | $5.3M | Reduce -1.0% |
| V Visa Inc. Class A | 0.23% | 15,437 | $5.3M | Add +3.1% |
| VTI VG Morningstar TS MKT ETF-US | 0.23% | 14,308 | $5.3M | Add +5.9% |
| MCD McDonald's Corp. | 0.22% | 19,498 | $5.3M | Reduce -2.6% |
| INTC Intel Corp. | 0.22% | 37,258 | $5.2M | Add +2.6% |
| ORCL Oracle Corp. | 0.21% | 34,223 | $5.0M | Reduce -2.2% |
| TMO Thermo Fisher Scientific Inc. | 0.20% | 9,589 | $4.8M | Reduce -10.8% |
| LLY Eli Lilly & Co. | 0.20% | 3,941 | $4.7M | Add +15.3% |
| DE Deere & Co. | 0.19% | 7,139 | $4.5M | Reduce -0.5% |
| CVS CVS Health Corp. | 0.19% | 43,313 | $4.5M | Reduce -5.3% |
| RWO State Street SPDR Dow Jones | 0.19% | 89,554 | $4.5M | Add +1.0% |
| BSMS Invesco Bulletshares 2028 MB | 0.19% | 189,779 | $4.4M | Reduce -23.1% |
| BSMR Invesco Bulletshares 2027 MB | 0.18% | 178,708 | $4.2M | Reduce -22.4% |
| XLB SS Materials Select Sector | 0.17% | 80,034 | $4.1M | Add +9.3% |
| PEP Pepsico Inc. | 0.17% | 29,782 | $4.0M | Reduce -0.9% |
| CVX Chevron Corp. | 0.16% | 23,359 | $3.9M | Add +0.1% |
| XLK SS Technology Select Sector | 0.16% | 19,674 | $3.7M | Add +43.0% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.16% | 5 | $3.7M | No change |
| BSCW Invesco Bulletshares 2032 CB | 0.16% | 181,433 | $3.7M | New |
| RSPT Invesco S&P 500 Equal Weight | 0.15% | 56,098 | $3.6M | Reduce -5.5% |
| BSMW Invesco Bulletshares 2032 MB | 0.15% | 143,604 | $3.6M | Add +24.2% |
| IJH iShares Core S&P Midcap ETF | 0.15% | 45,428 | $3.5M | Add +64.7% |
| BSSX Invesco Bulletshares 2033 MB | 0.15% | 133,998 | $3.5M | Add +27.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.14% | 6,790 | $3.4M | Add +5.4% |
| GWW WW Grainger Inc. | 0.14% | 2,482 | $3.4M | Reduce -2.1% |
| IBDV iShares Ibonds Dec 2030 Corp. | 0.14% | 154,851 | $3.4M | Add +497.9% |
| NSC Norfolk Southern Corp. | 0.14% | 10,583 | $3.3M | Reduce -4.1% |
| BSMY Invesco Bulletshares 2034 MB | 0.14% | 134,061 | $3.3M | Add +21.7% |
| DHR Danaher Corp. | 0.14% | 16,996 | $3.2M | Reduce -0.7% |
| BSMQ Invesco Bulletshares 2026 MB | 0.14% | 137,043 | $3.2M | Reduce -18.7% |
| GNR State Street SPDR S&P Global | 0.13% | 45,553 | $3.1M | Add +1.3% |
| KO The Coca-Cola Co. | 0.13% | 37,449 | $3.0M | Reduce -1.0% |
| USB US Bancorp | 0.13% | 49,622 | $3.0M | Reduce -2.0% |
| CATX Perspective Therapeutics Inc. | 0.13% | 872,200 | $3.0M | No change |
| IBMT iShares Ibonds Dec 2031 Muni | 0.12% | 112,191 | $2.9M | Add +150.0% |
| ADI Analog Devices Inc. | 0.12% | 7,287 | $2.9M | Reduce -0.9% |
| VXF Vanguard Extended Market ETF | 0.12% | 11,679 | $2.9M | Add +0.6% |
| XLRE SS Real Estate Select Sector | 0.12% | 64,838 | $2.9M | Add +8.9% |
| IBDU iShares Ibonds Dec 2029 Term | 0.12% | 122,688 | $2.8M | Add +750.2% |
| RSPN Invesco S&P 500 Equal Weight | 0.12% | 44,386 | $2.8M | Add +9.3% |
| ABT Abbott Laboratories | 0.12% | 29,912 | $2.7M | Reduce -16.5% |
| VXUS Vanguard Total Intl Stock | 0.11% | 31,396 | $2.7M | Add +1.3% |
| CAT Caterpillar Inc. | 0.11% | 2,510 | $2.7M | Add +1.7% |
Portfolio Sells Q1 2026 → Q2 2026
| BSCV Invesco Bulletshares 2031 CB | Reduce -77.0% | 0.42% | −1.67 |
| BSCQ Invesco Bulletshares 2026 CB | Reduce -48.7% | 1.25% | −1.51 |
| BSCT Invesco Bulletshares 2029 CB | Reduce -57.3% | 0.83% | −1.38 |
| BSCU Invesco Bulletshares 2030 CB | Reduce -60.0% | 0.74% | −1.38 |
| BSCS Invesco Bulletshares 2028 CB | Reduce -49.6% | 1.08% | −1.37 |
| BSCR Invesco Bulletshares 2027 CB | Reduce -47.5% | 1.16% | −1.35 |
| GII State Street SPDR S&P Global | Reduce -1.7% | 2.41% | −0.39 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Reduce -3.8% | 12.76% | −0.36 |
| DFIC Dimensional International Co. | Reduce -36.8% | 0.46% | −0.33 |
| GUNR NT Mstar GLBL NR ETF | Reduce -1.8% | 1.06% | −0.31 |
| BND Vanguard Total Bond Market | Reduce -8.2% | 1.03% | −0.25 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Reduce -6.0% | 3.50% | −0.21 |
| MSFT Microsoft Corp. | Reduce -1.9% | 1.10% | −0.16 |
| BSMV Invesco Bulletshares 2031 MB | Reduce -24.9% | 0.32% | −0.16 |
| AVLC Avantis US LG Cap Eq ETF | Reduce -5.3% | 4.31% | −0.15 |
| ICE Intercontinental Exchange Inc. | Reduce -4.0% | 0.24% | −0.12 |
| SPYV SS SPDR P S&P 500 Value ETF | Reduce -11.6% | 0.57% | −0.11 |
| BSMU Invesco Bulletshares 2030 MB | Reduce -12.1% | 0.38% | −0.11 |
| MDY State Street SPDR S&P Midcap | Reduce -3.3% | 3.34% | −0.10 |
| PG The Procter & Gamble Co. | Reduce -3.0% | 0.63% | −0.10 |
| BSMS Invesco Bulletshares 2028 MB | Reduce -23.1% | 0.19% | −0.09 |
| FAST Fastenal Co. | Reduce -2.6% | 0.67% | −0.09 |
| BSMR Invesco Bulletshares 2027 MB | Reduce -22.4% | 0.18% | −0.08 |
| EFA iShares MSCI Eafe ETF | Reduce -4.9% | 0.68% | −0.08 |
| MCD McDonald's Corp. | Reduce -2.6% | 0.22% | −0.08 |
| HON Honeywell International Inc. | Sold out | 0.00% | −0.07 |
| COST Costco Wholesale Corp. | Reduce -1.7% | 0.31% | −0.07 |
| IBMO iShares Ibonds Dec 2026 Term | Reduce -3.1% | 0.41% | −0.07 |
| ABT Abbott Laboratories | Reduce -16.5% | 0.12% | −0.06 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -1.9% | 6.59% | −0.06 |
| META Meta Platforms Inc. Class A | Reduce -2.4% | 0.30% | −0.06 |
| BSMQ Invesco Bulletshares 2026 MB | Reduce -18.7% | 0.14% | −0.06 |
| PEP Pepsico Inc. | Reduce -0.9% | 0.17% | −0.05 |
| TMO Thermo Fisher Scientific Inc. | Reduce -10.8% | 0.20% | −0.05 |
| MA Mastercard Inc. Class A | Reduce -3.4% | 0.34% | −0.05 |
| TJX TJX Companies Inc. | Reduce -1.0% | 0.23% | −0.05 |
| CRM Salesforce Inc. | Reduce -19.9% | 0.07% | −0.05 |
| NKE Nike Inc. Class B | Reduce -24.7% | 0.05% | −0.04 |
| HD Home Depot Inc. | Reduce -3.0% | 0.43% | −0.04 |
| RSPH Invesco S&P 500 Equal Weight | Reduce -33.9% | 0.07% | −0.04 |
| RSPD Invesco S&P 500 Equal Weight | Reduce -36.3% | 0.05% | −0.04 |
| JPM JPMorgan Chase & Co. | Reduce -2.7% | 0.73% | −0.04 |
| ORCL Oracle Corp. | Reduce -2.2% | 0.21% | −0.04 |
| AAPL Apple Inc. | Reduce -2.6% | 1.54% | −0.03 |
| VLTO Veralto Corp. | Reduce -62.7% | 0.02% | −0.03 |
| COR Cencora Inc. | Reduce -10.6% | 0.07% | −0.03 |
| ITW Illinois Tool Works | Reduce -0.8% | 0.26% | −0.03 |
| FISV Fiserv Inc. | Reduce -1.5% | 0.08% | −0.03 |
| DD Dupont DE Nemours Inc. | Sold out | 0.00% | −0.02 |
| DIS The Walt Disney Co. | Reduce -10.9% | 0.08% | −0.02 |
Portfolio Buys Q1 2026 → Q2 2026
| FTRB Fed Hermes TTL RTRN BND | Add +97.5% | 6.00% | +2.54 |
| JPIB JPMorgan Intl BND ETF | Add +202.9% | 2.60% | +1.64 |
| VBCE Vangrd TRGT Mat 2031 CB ETF | New | 1.15% | +1.15 |
| VBCF Vangrd TRGT Mat 2032 CB ETF | New | 1.15% | +1.15 |
| VBCA Vangrd TRGT Mat 2027 CB ETF | New | 1.02% | +1.02 |
| VBCB Vangrd TRGT Mat 2028 CB ETF | New | 1.02% | +1.02 |
| VBCC Vangrd TRGT Mat 2029 CB ETF | New | 1.02% | +1.02 |
| VBCD Vangrd TRGT Mat 2030 CB ETF | New | 1.02% | +1.02 |
| VEA Vanguard Ftse Developed ETF | Add +7.1% | 7.30% | +0.33 |
| IBDW iShares Ibonds Dec 2031 Corp. | Add +526.1% | 0.36% | +0.29 |
| KLAC KLA Corp. | Add +0.4% | 0.53% | +0.24 |
| BSCW Invesco Bulletshares 2032 CB | New | 0.16% | +0.16 |
| VWO Vanguard Ftse Emerging Marke | Add +8.4% | 3.10% | +0.16 |
| INTC Intel Corp. | Add +2.6% | 0.22% | +0.14 |
| IBDV iShares Ibonds Dec 2030 Corp. | Add +497.9% | 0.14% | +0.12 |
| IBDU iShares Ibonds Dec 2029 Term | Add +750.2% | 0.12% | +0.10 |
| VCRM Vanguard Core Tax-Ex Bond | New | 0.09% | +0.09 |
| IBDX iShares Ibonds Dec 2032 TC | Add +780.5% | 0.10% | +0.09 |
| XLK SS Technology Select Sector | Add +43.0% | 0.16% | +0.07 |
| IBDT iShares Ibonds Dec 2028 ETF | Add +388.5% | 0.09% | +0.07 |
| IBMT iShares Ibonds Dec 2031 Muni | Add +150.0% | 0.12% | +0.07 |
| IJH iShares Core S&P Midcap ETF | Add +64.7% | 0.15% | +0.06 |
| SPDW Ste STR SPDR PT DW Eu ETF | Add +665.1% | 0.07% | +0.06 |
| IBMS ISHARESIBONDDEC2030MUNIBDETF | Add +359.4% | 0.07% | +0.06 |
| LLY Eli Lilly & Co. | Add +15.3% | 0.20% | +0.05 |
| MU Micron Technology Inc. | Add +30.8% | 0.07% | +0.05 |
| IBDS Ishrs Ibnds Dec 27 Corp. ETF | Add +100.2% | 0.11% | +0.05 |
| BSMZ Inves Bltshrs 2035 MB ETF | New | 0.04% | +0.04 |
| SPEM State Street SP PTF Em ETF | New | 0.04% | +0.04 |
| IEFA iShares Core MSCI Eafe ETF | Add +380.7% | 0.04% | +0.03 |
| CAT Caterpillar Inc. | Add +1.7% | 0.11% | +0.03 |
| APH Amphenol Corp. Class A | New | 0.03% | +0.03 |
| AMAT Applied Materials Inc. | Add +14.3% | 0.05% | +0.03 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.03% | +0.03 |
| IBMU Ishrs Ibond Dec 2032 TM ETF | New | 0.03% | +0.03 |
| AVDE Avantis International Equity | New | 0.02% | +0.02 |
| IBMV Ishrs Ibond Dec 2033 TM ETF | New | 0.02% | +0.02 |
| SYK Stryker Corp. | Add +83.0% | 0.05% | +0.02 |
| QQQ Invesco QQQ Trust Series 1 | Add +36.6% | 0.05% | +0.02 |
| BSSX Invesco Bulletshares 2033 MB | Add +27.3% | 0.15% | +0.02 |
| VHT Vanguard Health Care ETF | New | 0.02% | +0.02 |
| VTI VG Morningstar TS MKT ETF-US | Add +5.9% | 0.23% | +0.02 |
| AVGO Broadcom Inc. | Add +10.7% | 0.10% | +0.02 |
| GE General Electric | Add +2.9% | 0.09% | +0.02 |
| BSMW Invesco Bulletshares 2032 MB | Add +24.2% | 0.15% | +0.01 |
| GEV GE Vernova Inc. | Add +5.1% | 0.07% | +0.01 |
| IBMQ iShares Ibonds Dec 2028 Muni | Add +16.8% | 0.51% | +0.01 |
| TSLA Tesla Inc. | Add +22.0% | 0.08% | +0.01 |
| QCOM Qualcomm Inc. | Add +1.3% | 0.06% | +0.01 |
| IEMG iShares Core MSCI Emerging | Add +27.8% | 0.05% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 383 | $2.3B | SPYM, VEA, SPY, FTRB, AVLC |
| Q1 2026 | 355 | $2.1B | SPYM, VEA, SPY, AVLC, SPMD |
| Q4 2025 | 340 | $1.7B | SPY, VEA, SPMD, MDY, FTRB |
| Q3 2025 | 323 | $1.7B | SPY, VEA, SPMD, MDY, FTRB |
| Q2 2025 | 313 | $1.6B | SPY, VEA, MDY, SPMD, FTRB |
| Q1 2025 | 299 | $1.4B | SPY, VEA, MDY, BSCQ, IBTF |
| Q4 2024 | 299 | $1.3B | SPY, MDY, BSCQ, IBTF, BSCR |
| Q3 2024 | 301 | $1.3B | SPY, MDY, BSCQ, IBTF, IBTE |
| Q2 2024 | 284 | $1.2B | SPY, MDY, IBTF, IBTE, BSCQ |
| Q1 2024 | 282 | $1.2B | SPY, MDY, IBTE, IBTF, BSCQ |