Hills Bank & Trust Co
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 10, 2025), Hills Bank & Trust Co reported 299 stock positions worth $1.3 billion. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 9.7% of the portfolio, followed by State Street SPDR S&P Midcap (MDY, 5.2%) and Invesco Bulletshares 2026 CB (BSCQ, 3.9%). Compared with Q3 2024, it opened 15 new positions, sold out of 17, added to 97 and reduced 124. The biggest buy was Invesco Bulletshares 2030 CB (BSCU, shares +8253%) and the biggest sale an exit from iShares Ibonds Dec 2024 Term (IBTE).
- Most Recent 13F
- Q2 2026
- Location
- North Liberty, IA
- CIK
- 0001309148
- Portfolio Value
- $1.3B (Q4 2024)
- SEC Filing
- 0001309148-25-000002 ↗ filed Feb 10, 2025
Holdings Value
Holdings 299 stocks · $1.3B
| SPY SS SPDR S&P 500 ETF Trust-US | 9.69% | 219,634 | $128.7M | Reduce -0.6% |
| MDY State Street SPDR S&P Midcap | 5.17% | 120,611 | $68.7M | Reduce -0.3% |
| BSCQ Invesco Bulletshares 2026 CB | 3.87% | 2,647,734 | $51.4M | Add +3.5% |
| IBTF iShares Ibonds Dec 2025 Term | 3.81% | 2,168,442 | $50.6M | Add +2.4% |
| BSCR Invesco Bulletshares 2027 CB | 3.45% | 2,354,624 | $45.9M | Add +0.7% |
| BSCS Invesco Bulletshares 2028 CB | 3.41% | 2,248,990 | $45.3M | Add +1.2% |
| FTRB Fed Hermes TTL RTRN BND | 3.36% | 1,809,731 | $44.7M | Add +19.5% |
| VEA Vanguard Ftse Developed ETF | 3.23% | 896,241 | $42.9M | Add +7.1% |
| BSCT Invesco Bulletshares 2029 CB | 2.78% | 2,012,301 | $36.9M | Add +143.0% |
| AAPL Apple Inc. | 2.49% | 132,071 | $33.1M | Reduce -1.6% |
| NVDA Nvidia Corp. | 2.48% | 245,649 | $33.0M | Reduce -1.4% |
| MSFT Microsoft Corp. | 2.46% | 77,473 | $32.7M | Add +0.1% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 2.35% | 570,208 | $31.2M | Add +4.8% |
| BSCU Invesco Bulletshares 2030 CB | 2.09% | 1,698,495 | $27.8M | Add +8252.6% |
| GOOG Alphabet Inc. Class C | 1.79% | 124,922 | $23.8M | Reduce -0.9% |
| BND Vanguard Total Bond Market | 1.76% | 324,296 | $23.3M | Reduce -1.2% |
| GUNR NT Mstar GLBL NR ETF | 1.74% | 635,389 | $23.1M | Reduce -20.8% |
| PG The Procter & Gamble Co. | 1.44% | 114,383 | $19.2M | Reduce -2.3% |
| VWO Vanguard Ftse Emerging Marke | 1.13% | 341,330 | $15.0M | Add +8.4% |
| AMZN Amazon.com Inc. | 1.11% | 67,206 | $14.7M | Add +1.4% |
| GQRE NT GLBL Qual Re ETF | 1.08% | 250,933 | $14.3M | Add +45.4% |
| JPM JPMorgan Chase & Co. | 1.06% | 58,702 | $14.1M | Reduce -1.3% |
| GII State Street SPDR S&P Global | 1.03% | 231,164 | $13.7M | Add +7.3% |
| FAST Fastenal Co. | 1.03% | 189,974 | $13.7M | Reduce -0.8% |
| EFA iShares MSCI Eafe ETF | 0.98% | 172,057 | $13.0M | Reduce -0.2% |
| HD Home Depot Inc. | 0.95% | 32,401 | $12.6M | Reduce -0.5% |
| JPIB JPMorgan Intl BND ETF | 0.95% | 266,449 | $12.6M | Add +18.9% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.92% | 239,185 | $12.2M | Add +23.5% |
| RWO State Street SPDR Dow Jones | 0.88% | 271,409 | $11.6M | Add +32.7% |
| FISV Fiserv Inc. | 0.70% | 45,506 | $9.3M | Reduce -0.7% |
| MA Mastercard Inc. Class A | 0.69% | 17,380 | $9.2M | Add +0.2% |
| IBMP iShares Ibonds Dec 2027 Term | 0.64% | 337,256 | $8.5M | Add +3.7% |
| IBMQ iShares Ibonds Dec 2028 Muni | 0.62% | 328,783 | $8.3M | Add +10.9% |
| IBMO iShares Ibonds Dec 2026 Term | 0.62% | 324,032 | $8.2M | Add +4.0% |
| ICE Intercontinental Exchange Inc. | 0.62% | 55,026 | $8.2M | Reduce -0.7% |
| COST Costco Wholesale Corp. | 0.61% | 8,829 | $8.1M | Add +2.0% |
| META Meta Platforms Inc. Class A | 0.59% | 13,439 | $7.9M | Reduce -1.6% |
| IBMN iShares Ibonds Dec 2025 Term | 0.59% | 293,364 | $7.8M | Add +1.7% |
| PANW Palo Alto Networks Inc. | 0.59% | 42,765 | $7.8M | Reduce -0.6% |
| USB US Bancorp | 0.57% | 159,412 | $7.6M | Reduce -0.0% |
| BSMU Invesco Bulletshares 2030 MB | 0.53% | 327,128 | $7.1M | Add +477.0% |
| BSMT Invesco Bulletshares 2029 MB | 0.53% | 309,350 | $7.1M | Add +18.0% |
| IJR iShares Core S&P Small-Cap E | 0.52% | 60,152 | $6.9M | Reduce -6.2% |
| MCD McDonald's Corp. | 0.51% | 23,271 | $6.7M | Reduce -1.3% |
| VOO Vanguard S&P 500 ETF | 0.50% | 12,252 | $6.6M | Reduce -2.1% |
| ITW Illinois Tool Works | 0.49% | 25,605 | $6.5M | Reduce -0.3% |
| ORCL Oracle Corp. | 0.48% | 38,525 | $6.4M | Add +0.4% |
| CRM Salesforce Inc. | 0.45% | 17,726 | $5.9M | Reduce -1.5% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.44% | 85,617 | $5.9M | Add +67.5% |
| TMO Thermo Fisher Scientific Inc. | 0.44% | 11,264 | $5.9M | Reduce -2.4% |
| PEP Pepsico Inc. | 0.39% | 33,758 | $5.1M | Reduce -2.7% |
| CMG Chipotle Mexican Grill Inc. | 0.38% | 84,428 | $5.1M | Add +0.4% |
| ABT Abbott Laboratories | 0.37% | 42,962 | $4.9M | Reduce -0.4% |
| XOM Exxon Mobil Corp. | 0.36% | 44,890 | $4.8M | Add +1.5% |
| V Visa Inc. Class A | 0.36% | 15,182 | $4.8M | Reduce -1.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.36% | 39,394 | $4.8M | Reduce -2.5% |
| JNJ Johnson & Johnson | 0.35% | 31,723 | $4.6M | Reduce -6.3% |
| NKE Nike Inc. Class B | 0.34% | 59,675 | $4.5M | Reduce -1.4% |
| CVX Chevron Corp. | 0.32% | 29,177 | $4.2M | Reduce -0.7% |
| VTI VG Morningstar TS MKT ETF-US | 0.32% | 14,565 | $4.2M | Add +61.4% |
| AMT American Tower Corp. | 0.32% | 22,979 | $4.2M | Add +2.0% |
| DHR Danaher Corp. | 0.31% | 17,962 | $4.1M | Reduce -0.1% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.27% | 3,426 | $3.6M | Reduce -1.7% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.26% | 5 | $3.4M | No change |
| CATX Perspective Therapeutics Inc. | 0.25% | 1,027,830 | $3.3M | No change |
| ADBE Adobe Inc. | 0.24% | 7,299 | $3.2M | Add +1.0% |
| DE Deere & Co. | 0.23% | 7,291 | $3.1M | Reduce -2.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.23% | 27,610 | $3.1M | Reduce -0.1% |
| NSC Norfolk Southern Corp. | 0.23% | 12,995 | $3.0M | Add +1.5% |
| CSCO Cisco Systems Inc. | 0.23% | 51,385 | $3.0M | Add +0.9% |
| ANSS Ansys Inc. | 0.23% | 8,953 | $3.0M | Reduce -1.7% |
| MDLZ Mondelez International Inc. Class A | 0.22% | 48,726 | $2.9M | Add +2.3% |
| ISRG Intuitive Surgical Inc. | 0.21% | 5,418 | $2.8M | Reduce -2.6% |
| KLAC KLA Corp. | 0.21% | 4,324 | $2.7M | Reduce -5.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.20% | 12,326 | $2.7M | Reduce -18.3% |
| CMCSA Comcast Corp. Class A | 0.20% | 71,001 | $2.7M | Reduce -0.6% |
| LLY Eli Lilly & Co. | 0.20% | 3,414 | $2.6M | Reduce -8.8% |
| LNT Alliant Energy Corp. | 0.20% | 44,147 | $2.6M | Reduce -0.3% |
| SPGI S&P Global Inc. | 0.19% | 5,171 | $2.6M | Reduce -0.0% |
| ZBH Zimmer Biomet Holdings Inc. | 0.19% | 24,370 | $2.6M | Reduce -0.2% |
| BX Blackstone Inc. | 0.19% | 14,533 | $2.5M | Reduce -2.1% |
| CVS CVS Health Corp. | 0.19% | 55,259 | $2.5M | Add +0.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.18% | 5,330 | $2.4M | Reduce -3.8% |
| HON Honeywell International Inc. | 0.18% | 10,587 | $2.4M | Add +1.6% |
| XLB SS Materials Select Sector | 0.18% | 28,176 | $2.4M | Reduce -0.6% |
| KO The Coca-Cola Co. | 0.17% | 37,086 | $2.3M | Add +3.1% |
| CBOE Cboe Global Markets Inc. | 0.17% | 11,675 | $2.3M | No change |
| VXF Vanguard Extended Market ETF | 0.17% | 11,868 | $2.3M | Reduce -1.5% |
| MRSH Marsh & McLennan Cos | 0.17% | 10,353 | $2.2M | Add +4.0% |
| CDW CDW Corp. | 0.16% | 12,357 | $2.2M | Add +1.1% |
| BMY Bristol-Myers Squibb Co. | 0.15% | 35,884 | $2.0M | Reduce -0.8% |
| ADI Analog Devices Inc. | 0.15% | 9,300 | $2.0M | Add +2.0% |
| BDX Becton Dickinson and Co. | 0.15% | 8,697 | $2.0M | Add +1.7% |
| TFC Truist Financial Corp. | 0.15% | 45,015 | $2.0M | Add +1.9% |
| EOG EOG Resources Inc. | 0.15% | 15,867 | $1.9M | Reduce -0.4% |
| PFE Pfizer Inc. | 0.14% | 71,214 | $1.9M | Add +1.9% |
| IAK iShares U.S. Insurance ETF | 0.14% | 14,689 | $1.9M | Reduce -0.0% |
| GD General Dynamics Corp. | 0.14% | 7,049 | $1.9M | Add +3.2% |
| ECL Ecolab Inc. | 0.13% | 7,623 | $1.8M | Reduce -0.8% |
| VXUS Vanguard Total Intl Stock | 0.13% | 29,611 | $1.7M | Add +0.4% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $535K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) | PFD CV TR SEC 28 | 8,909 | $428K | No change |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 90 | $107K | No change |
Total filed on the 13F, all lines: $1.3B.
Portfolio Sells Q3 2024 → Q4 2024
| IBTE iShares Ibonds Dec 2024 Term | Sold out | 0.00% | −3.53 |
| GUNR NT Mstar GLBL NR ETF | Reduce -20.8% | 1.74% | −0.76 |
| IBMM iShares Ibonds Dec 2024 Term | Sold out | 0.00% | −0.25 |
| BLK BlackRock Finance Inc. | Sold out | 0.00% | −0.13 |
| EFA iShares MSCI Eafe ETF | Reduce -0.2% | 0.98% | −0.11 |
| BND Vanguard Total Bond Market | Reduce -1.2% | 1.76% | −0.11 |
| TMO Thermo Fisher Scientific Inc. | Reduce -2.4% | 0.44% | −0.10 |
| IBDP iShares Ibonds Dec 2024 Term | Sold out | 0.00% | −0.10 |
| PG The Procter & Gamble Co. | Reduce -2.3% | 1.44% | −0.09 |
| BSCO Invesco Bulletshares 2024 CB | Sold out | 0.00% | −0.08 |
| JNJ Johnson & Johnson | Reduce -6.3% | 0.35% | −0.07 |
| DHR Danaher Corp. | Reduce -0.1% | 0.31% | −0.07 |
| NKE Nike Inc. Class B | Reduce -1.4% | 0.34% | −0.06 |
| KLAC KLA Corp. | Reduce -5.2% | 0.21% | −0.06 |
| PEP Pepsico Inc. | Reduce -2.7% | 0.39% | −0.06 |
| ICE Intercontinental Exchange Inc. | Reduce -0.7% | 0.62% | −0.06 |
| LLY Eli Lilly & Co. | Reduce -8.8% | 0.20% | −0.05 |
| IBM Intl Business Machines Corp. | Reduce -18.3% | 0.20% | −0.05 |
| HD Home Depot Inc. | Reduce -0.5% | 0.95% | −0.05 |
| IJR iShares Core S&P Small-Cap E | Reduce -6.2% | 0.52% | −0.04 |
| T AT&T Inc. | Reduce -35.6% | 0.07% | −0.04 |
| MCD McDonald's Corp. | Reduce -1.3% | 0.51% | −0.03 |
| MDY State Street SPDR S&P Midcap | Reduce -0.3% | 5.17% | −0.03 |
| XLB SS Materials Select Sector | Reduce -0.6% | 0.18% | −0.03 |
| IHF iShares U.S. Healthcare Prov | Reduce -2.7% | 0.12% | −0.03 |
| EL Estee Lauder Companies Class A | Sold out | 0.00% | −0.03 |
| CMCSA Comcast Corp. Class A | Reduce -0.6% | 0.20% | −0.02 |
| BSMO Invesco Bulletshares 2024 MB | Sold out | 0.00% | −0.02 |
| XLP SS Consumer Staples Sel Sect | Reduce -18.0% | 0.08% | −0.02 |
| QCOM Qualcomm Inc. | Reduce -6.3% | 0.11% | −0.02 |
| ITW Illinois Tool Works | Reduce -0.3% | 0.49% | −0.02 |
| TDG Transdigm Group Inc. | Reduce -1.4% | 0.11% | −0.02 |
| INTC Intel Corp. | Reduce -4.0% | 0.07% | −0.02 |
| WSC Willscot Holdings Corp. | Reduce -34.0% | 0.02% | −0.02 |
| ECL Ecolab Inc. | Reduce -0.8% | 0.13% | −0.01 |
| SRCL Stericycle Inc. | Sold out | 0.00% | −0.01 |
| VLTO Veralto Corp. | Reduce -0.9% | 0.11% | −0.01 |
| UNP Union Pacific Corp. | Reduce -1.8% | 0.11% | −0.01 |
| DCI Donaldson Co. Inc. | Reduce -1.2% | 0.10% | −0.01 |
| ABBV Abbvie Inc. | Reduce -2.7% | 0.08% | −0.01 |
| VZ Verizon Communications Inc. | Reduce -3.5% | 0.07% | −0.01 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -8.6% | 0.06% | −0.01 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -3.8% | 0.18% | −0.01 |
| HEI.A Heico Corp. Class A | Reduce -1.4% | 0.08% | −0.01 |
| URI United Rentals Inc. | Reduce -19.0% | 0.02% | −0.01 |
| CVX Chevron Corp. | Reduce -0.7% | 0.32% | −0.01 |
| GE General Electric | Reduce -0.4% | 0.06% | −0.01 |
| NVO Novo-Nordisk A/S-Spons ADR | Sold out | 0.00% | −0.01 |
| WY Weyerhaeuser Co. | Sold out | 0.00% | −0.01 |
| CCI Crown Castle Inc. | Sold out | 0.00% | −0.01 |
Portfolio Buys Q3 2024 → Q4 2024
| BSCU Invesco Bulletshares 2030 CB | Add +8252.6% | 2.09% | +2.07 |
| BSCT Invesco Bulletshares 2029 CB | Add +143.0% | 2.78% | +1.60 |
| BSMU Invesco Bulletshares 2030 MB | Add +477.0% | 0.53% | +0.44 |
| FTRB Fed Hermes TTL RTRN BND | Add +19.5% | 3.36% | +0.41 |
| GQRE NT GLBL Qual Re ETF | Add +45.4% | 1.08% | +0.26 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +67.5% | 0.44% | +0.18 |
| AMZN Amazon.com Inc. | Add +1.4% | 1.11% | +0.18 |
| SPYV SS SPDR P S&P 500 Value ETF | Add +23.5% | 0.92% | +0.15 |
| RWO State Street SPDR Dow Jones | Add +32.7% | 0.88% | +0.14 |
| VTI VG Morningstar TS MKT ETF-US | Add +61.4% | 0.32% | +0.12 |
| JPIB JPMorgan Intl BND ETF | Add +18.9% | 0.95% | +0.12 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +4.8% | 2.35% | +0.10 |
| BSMP Invesco Bulletshares 2025 MB | Add +252.9% | 0.13% | +0.09 |
| BSCQ Invesco Bulletshares 2026 CB | Add +3.5% | 3.87% | +0.09 |
| BSMT Invesco Bulletshares 2029 MB | Add +18.0% | 0.53% | +0.07 |
| FTAI Ftai Aviation Ltd. | New | 0.07% | +0.07 |
| IBTF iShares Ibonds Dec 2025 Term | Add +2.4% | 3.81% | +0.06 |
| BSMR Invesco Bulletshares 2027 MB | New | 0.05% | +0.05 |
| IBMQ iShares Ibonds Dec 2028 Muni | Add +10.9% | 0.62% | +0.05 |
| MA Mastercard Inc. Class A | Add +0.2% | 0.69% | +0.04 |
| BSMQ Invesco Bulletshares 2026 MB | Add +457.4% | 0.05% | +0.04 |
| BSMS Invesco Bulletshares 2028 MB | Add +304.7% | 0.05% | +0.04 |
| BIV Vanguard Intermediate-Term B | New | 0.03% | +0.03 |
| COST Costco Wholesale Corp. | Add +2.0% | 0.61% | +0.03 |
| NOW ServiceNow Inc. | Add +159.3% | 0.04% | +0.03 |
| ACN Accenture PLC Class A | Add +43.8% | 0.09% | +0.03 |
| GII State Street SPDR S&P Global | Add +7.3% | 1.03% | +0.03 |
| IVV iShares Core S&P 500 ETF | Add +104.6% | 0.05% | +0.02 |
| CSCO Cisco Systems Inc. | Add +0.9% | 0.23% | +0.02 |
| ETN Eaton Corp. PLC | Add +85.9% | 0.05% | +0.02 |
| IBDQ iShares Ibonds Dec 2025 Term | Add +28.0% | 0.10% | +0.02 |
| SUB iShares Short-Term National | New | 0.02% | +0.02 |
| SCHW Schwab (charles) Corp. | Add +7.1% | 0.11% | +0.02 |
| PYPL PayPal Holdings Inc. | Add +14.7% | 0.10% | +0.02 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +57.5% | 0.06% | +0.02 |
| BBWI Bath & Body Works Inc. | Add +5.2% | 0.08% | +0.02 |
| CMG Chipotle Mexican Grill Inc. | Add +0.4% | 0.38% | +0.02 |
| HON Honeywell International Inc. | Add +1.6% | 0.18% | +0.02 |
| IBMO iShares Ibonds Dec 2026 Term | Add +4.0% | 0.62% | +0.02 |
| FDX FedEx Corp. | Add +54.6% | 0.05% | +0.02 |
| BA The Boeing Co. | Add +0.2% | 0.12% | +0.02 |
| JPST JPMorgan Ultra-Short Income | New | 0.02% | +0.02 |
| IBDR iShares Ibonds Dec 2026 Term | New | 0.02% | +0.02 |
| XLE SS Energy Select Sector | New | 0.02% | +0.02 |
| JMST JPM Ultra-Short Muni Income | New | 0.01% | +0.01 |
| IBMP iShares Ibonds Dec 2027 Term | Add +3.7% | 0.64% | +0.01 |
| BSCP Invesco Bulletshares 2025 CB | Add +18.4% | 0.08% | +0.01 |
| IBDT iShares Ibonds Dec 2028 ETF | New | 0.01% | +0.01 |
| VCIT Vanguard Int-Term Corporate | New | 0.01% | +0.01 |
| SPDW Ste STR SPDR PT DW Eu ETF | New | 0.01% | +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 |