Hills Bank & Trust Co
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 1, 2026), Hills Bank & Trust Co reported 355 stock positions worth $2.1 billion. Its top holding was Ste STR SPDR PT S&P 500 ETF (SPYM) at 13.1% of the portfolio, followed by Vanguard Ftse Developed ETF (VEA, 7.0%) and SS SPDR S&P 500 ETF Trust-US (SPY, 6.6%). Compared with Q4 2025, it opened 29 new positions, sold out of 14, added to 101 and reduced 153. The biggest buy was Ste STR SPDR PT S&P 500 ETF (SPYM, shares +763%) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- North Liberty, IA
- CIK
- 0001309148
- Portfolio Value
- $2.1B (Q1 2026)
- SEC Filing
- 0001309148-26-000011 ↗ filed May 1, 2026
Holdings Value
Holdings 355 stocks · $2.1B
| SPYM Ste STR SPDR PT S&P 500 ETF | 13.12% | 3,547,258 | $271.5M | Add +763.4% |
| VEA Vanguard Ftse Developed ETF | 6.96% | 2,247,545 | $144.0M | Add +1.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 6.64% | 211,370 | $137.5M | Reduce -1.3% |
| AVLC Avantis US LG Cap Eq ETF | 4.46% | 1,188,777 | $92.2M | Add +8110.4% |
| SPMD SS SPDR P S&P 400 Midcap ETF | 3.70% | 1,293,637 | $76.6M | Add +1.2% |
| FTRB Fed Hermes TTL RTRN BND | 3.46% | 2,842,568 | $71.5M | Add +7.8% |
| MDY State Street SPDR S&P Midcap | 3.44% | 115,410 | $71.2M | Reduce -1.9% |
| VWO Vanguard Ftse Emerging Marke | 2.94% | 1,124,915 | $60.8M | Add +3.8% |
| GII State Street SPDR S&P Global | 2.80% | 762,289 | $57.9M | Add +104.2% |
| BSCQ Invesco Bulletshares 2026 CB | 2.76% | 2,922,854 | $57.1M | Add +3.5% |
| BSCR Invesco Bulletshares 2027 CB | 2.51% | 2,649,128 | $52.0M | Add +4.8% |
| BSCS Invesco Bulletshares 2028 CB | 2.45% | 2,480,768 | $50.7M | Add +3.9% |
| BSCT Invesco Bulletshares 2029 CB | 2.21% | 2,452,536 | $45.8M | Add +5.4% |
| BSCU Invesco Bulletshares 2030 CB | 2.12% | 2,621,207 | $43.8M | Add +5.5% |
| BSCV Invesco Bulletshares 2031 CB | 2.09% | 2,624,341 | $43.2M | Add +9.8% |
| NVDA Nvidia Corp. | 1.91% | 226,736 | $39.5M | Reduce -2.5% |
| GOOG Alphabet Inc. Class C | 1.59% | 114,921 | $33.0M | Reduce -2.5% |
| AAPL Apple Inc. | 1.57% | 128,289 | $32.6M | Add +0.3% |
| GUNR NT Mstar GLBL NR ETF | 1.37% | 512,329 | $28.3M | Reduce -5.8% |
| BND Vanguard Total Bond Market | 1.28% | 360,158 | $26.5M | Add +2.2% |
| MSFT Microsoft Corp. | 1.26% | 70,639 | $26.1M | Reduce -4.9% |
| JPIB JPMorgan Intl BND ETF | 0.97% | 417,820 | $20.0M | Add +7.7% |
| DFIC Dimensional International Co. | 0.79% | 460,089 | $16.3M | Add +31.2% |
| JPM JPMorgan Chase & Co. | 0.76% | 53,781 | $15.8M | Reduce -3.6% |
| EFA iShares MSCI Eafe ETF | 0.76% | 161,982 | $15.7M | Add +0.9% |
| FAST Fastenal Co. | 0.76% | 337,690 | $15.7M | Reduce -4.4% |
| BSMT Invesco Bulletshares 2029 MB | 0.73% | 659,279 | $15.2M | Add +4.1% |
| PG The Procter & Gamble Co. | 0.73% | 104,803 | $15.1M | Reduce -1.6% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.68% | 248,701 | $14.1M | Reduce -58.6% |
| AMZN Amazon.com Inc. | 0.66% | 65,894 | $13.7M | Reduce -4.3% |
| IBMP iShares Ibonds Dec 2027 Term | 0.55% | 443,458 | $11.3M | Add +1.6% |
| IBMQ iShares Ibonds Dec 2028 Muni | 0.49% | 397,905 | $10.2M | Add +1.7% |
| BSMU Invesco Bulletshares 2030 MB | 0.49% | 460,879 | $10.1M | Add +6.6% |
| BSMV Invesco Bulletshares 2031 MB | 0.48% | 479,643 | $10.0M | Add +8.6% |
| IBMO iShares Ibonds Dec 2026 Term | 0.48% | 390,183 | $10.0M | Reduce -0.1% |
| HD Home Depot Inc. | 0.47% | 29,707 | $9.8M | Reduce -2.2% |
| JNJ Johnson & Johnson | 0.40% | 33,869 | $8.3M | Reduce -0.7% |
| COST Costco Wholesale Corp. | 0.39% | 8,045 | $8.0M | Reduce -5.3% |
| MA Mastercard Inc. Class A | 0.39% | 15,947 | $8.0M | Reduce -6.8% |
| ICE Intercontinental Exchange Inc. | 0.36% | 47,757 | $7.5M | Reduce -4.1% |
| META Meta Platforms Inc. Class A | 0.36% | 12,974 | $7.4M | Reduce -3.6% |
| XOM Exxon Mobil Corp. | 0.35% | 43,231 | $7.3M | Reduce -1.6% |
| VOO Vanguard S&P 500 ETF | 0.34% | 11,735 | $7.0M | Reduce -1.8% |
| MCD McDonald's Corp. | 0.30% | 20,027 | $6.2M | Reduce -1.1% |
| IJR iShares Core S&P Small-Cap E | 0.30% | 49,963 | $6.2M | Reduce -0.2% |
| KLAC KLA Corp. | 0.29% | 4,087 | $6.0M | Add +0.9% |
| ITW Illinois Tool Works | 0.29% | 23,046 | $6.0M | Reduce -1.8% |
| PANW Palo Alto Networks Inc. | 0.29% | 37,361 | $6.0M | Reduce -4.7% |
| BSMS Invesco Bulletshares 2028 MB | 0.28% | 246,890 | $5.8M | Add +13.2% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.27% | 35,416 | $5.7M | Reduce -5.4% |
| BSMR Invesco Bulletshares 2027 MB | 0.26% | 230,415 | $5.5M | Add +11.6% |
| TMO Thermo Fisher Scientific Inc. | 0.26% | 10,747 | $5.3M | Reduce -1.1% |
| ORCL Oracle Corp. | 0.25% | 35,000 | $5.1M | Reduce -4.8% |
| LNT Alliant Energy Corp. | 0.25% | 71,717 | $5.1M | Reduce -0.4% |
| CVX Chevron Corp. | 0.23% | 23,327 | $4.8M | Reduce -3.5% |
| PEP Pepsico Inc. | 0.23% | 30,057 | $4.7M | Reduce -1.6% |
| V Visa Inc. Class A | 0.22% | 14,976 | $4.5M | Add +4.1% |
| VTI VG Morningstar TS MKT ETF-US | 0.21% | 13,516 | $4.3M | Add +1.6% |
| RWO State Street SPDR Dow Jones | 0.20% | 88,661 | $4.1M | Reduce -20.6% |
| DE Deere & Co. | 0.20% | 7,171 | $4.0M | Reduce -0.5% |
| BSMQ Invesco Bulletshares 2026 MB | 0.19% | 168,625 | $4.0M | Reduce -17.6% |
| CSCO Cisco Systems Inc. | 0.19% | 50,838 | $3.9M | Reduce -5.0% |
| ABT Abbott Laboratories | 0.18% | 35,816 | $3.7M | Reduce -12.9% |
| XLB SS Materials Select Sector | 0.18% | 73,250 | $3.7M | Add +28.5% |
| CATX Perspective Therapeutics Inc. | 0.18% | 872,200 | $3.6M | Reduce -7.0% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.17% | 5 | $3.6M | No change |
| GNR State Street SPDR S&P Global | 0.16% | 44,967 | $3.4M | No change |
| CVS CVS Health Corp. | 0.16% | 45,751 | $3.3M | Reduce -9.9% |
| DHR Danaher Corp. | 0.16% | 17,113 | $3.2M | Reduce -2.9% |
| NSC Norfolk Southern Corp. | 0.15% | 11,034 | $3.2M | Reduce -11.2% |
| LLY Eli Lilly & Co. | 0.15% | 3,419 | $3.1M | Add +7.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.15% | 6,443 | $3.1M | Add +19.2% |
| KO The Coca-Cola Co. | 0.14% | 37,836 | $2.9M | Reduce -4.9% |
| BSMW Invesco Bulletshares 2032 MB | 0.14% | 115,584 | $2.9M | Add +5.1% |
| CBOE Cboe Global Markets Inc. | 0.14% | 10,133 | $2.8M | No change |
| GWW WW Grainger Inc. | 0.13% | 2,535 | $2.8M | Reduce -1.2% |
| RSPT Invesco S&P 500 Equal Weight | 0.13% | 59,329 | $2.7M | Add +116.0% |
| BSSX Invesco Bulletshares 2033 MB | 0.13% | 105,261 | $2.7M | Add +4.5% |
| BSMY Invesco Bulletshares 2034 MB | 0.13% | 110,162 | $2.7M | Add +3.9% |
| USB US Bancorp | 0.13% | 50,655 | $2.6M | Reduce -0.2% |
| VGSH Vanguard Short-Term Treasury | 0.12% | 42,931 | $2.5M | Add +15.0% |
| ISRG Intuitive Surgical Inc. | 0.12% | 5,304 | $2.4M | Add +2.9% |
| XLRE SS Real Estate Select Sector | 0.12% | 59,516 | $2.4M | Add +77.2% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.12% | 52,285 | $2.4M | Add +64.8% |
| VXUS Vanguard Total Intl Stock | 0.12% | 30,987 | $2.4M | Add +1.5% |
| VXF Vanguard Extended Market ETF | 0.12% | 11,610 | $2.4M | Reduce -2.8% |
| ADI Analog Devices Inc. | 0.11% | 7,354 | $2.3M | Reduce -12.2% |
| RSPN Invesco S&P 500 Equal Weight | 0.11% | 40,597 | $2.3M | Add +90.1% |
| CRM Salesforce Inc. | 0.11% | 12,319 | $2.3M | Reduce -26.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.11% | 9,414 | $2.3M | Reduce -4.5% |
| RSPH Invesco S&P 500 Equal Weight | 0.11% | 73,660 | $2.2M | Add +78.3% |
| IAK iShares U.S. Insurance ETF | 0.11% | 17,160 | $2.2M | Add +11.5% |
| FISV Fiserv Inc. | 0.11% | 39,218 | $2.2M | Reduce -5.4% |
| REET iShares Global REIT ETF | 0.10% | 84,877 | $2.1M | Reduce -5.7% |
| EMR Emerson Electric Co. | 0.10% | 16,086 | $2.1M | Reduce -6.8% |
| COR Cencora Inc. | 0.10% | 6,679 | $2.1M | Reduce -10.5% |
| GD General Dynamics Corp. | 0.10% | 6,006 | $2.1M | Reduce -9.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.10% | 21,207 | $2.0M | Reduce -9.7% |
| AMD Advanced Micro Devices | 0.10% | 9,886 | $2.0M | Reduce -10.3% |
| AMT American Tower Corp. | 0.10% | 11,522 | $2.0M | Reduce -22.4% |
Portfolio Sells Q4 2025 → Q1 2026
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -1.3% | 6.64% | −1.85 |
| SPYV SS SPDR P S&P 500 Value ETF | Reduce -58.6% | 0.68% | −1.30 |
| MSFT Microsoft Corp. | Reduce -4.9% | 1.26% | −0.83 |
| MDY State Street SPDR S&P Midcap | Reduce -1.9% | 3.44% | −0.68 |
| NVDA Nvidia Corp. | Reduce -2.5% | 1.91% | −0.61 |
| GOOG Alphabet Inc. Class C | Reduce -2.5% | 1.59% | −0.56 |
| JPM JPMorgan Chase & Co. | Reduce -3.6% | 0.76% | −0.28 |
| AMZN Amazon.com Inc. | Reduce -4.3% | 0.66% | −0.26 |
| MA Mastercard Inc. Class A | Reduce -6.8% | 0.39% | −0.18 |
| ORCL Oracle Corp. | Reduce -4.8% | 0.25% | −0.17 |
| META Meta Platforms Inc. Class A | Reduce -3.6% | 0.36% | −0.16 |
| PG The Procter & Gamble Co. | Reduce -1.6% | 0.73% | −0.16 |
| CRM Salesforce Inc. | Reduce -26.3% | 0.11% | −0.15 |
| HD Home Depot Inc. | Reduce -2.2% | 0.47% | −0.14 |
| PANW Palo Alto Networks Inc. | Reduce -4.7% | 0.29% | −0.13 |
| ABT Abbott Laboratories | Reduce -12.9% | 0.18% | −0.12 |
| TMO Thermo Fisher Scientific Inc. | Reduce -1.1% | 0.26% | −0.11 |
| ICE Intercontinental Exchange Inc. | Reduce -4.1% | 0.36% | −0.11 |
| IBMO iShares Ibonds Dec 2026 Term | Reduce -0.1% | 0.48% | −0.10 |
| VOO Vanguard S&P 500 ETF | Reduce -1.8% | 0.34% | −0.10 |
| RWO State Street SPDR Dow Jones | Reduce -20.6% | 0.20% | −0.10 |
| BSMQ Invesco Bulletshares 2026 MB | Reduce -17.6% | 0.19% | −0.09 |
| GUNR NT Mstar GLBL NR ETF | Reduce -5.8% | 1.37% | −0.08 |
| DHR Danaher Corp. | Reduce -2.9% | 0.16% | −0.08 |
| ADBE Adobe Inc. | Reduce -87.7% | 0.01% | −0.08 |
| CVS CVS Health Corp. | Reduce -9.9% | 0.16% | −0.08 |
| FAST Fastenal Co. | Reduce -4.4% | 0.76% | −0.07 |
| BX Blackstone Inc. | Reduce -14.7% | 0.07% | −0.06 |
| TJX TJX Companies Inc. | Reduce -5.4% | 0.27% | −0.06 |
| NKE Nike Inc. Class B | Reduce -12.6% | 0.09% | −0.06 |
| IBM Intl Business Machines Corp. | Reduce -4.5% | 0.11% | −0.06 |
| MCD McDonald's Corp. | Reduce -1.1% | 0.30% | −0.06 |
| CMG Chipotle Mexican Grill Inc. | Reduce -22.3% | 0.07% | −0.06 |
| DIS The Walt Disney Co. | Reduce -9.7% | 0.10% | −0.06 |
| FISV Fiserv Inc. | Reduce -5.4% | 0.11% | −0.06 |
| AMT American Tower Corp. | Reduce -22.4% | 0.10% | −0.06 |
| NSC Norfolk Southern Corp. | Reduce -11.2% | 0.15% | −0.06 |
| INTU Intuit Inc. | Reduce -76.3% | 0.01% | −0.05 |
| SPGI S&P Global Inc. | Reduce -5.2% | 0.09% | −0.05 |
| IJR iShares Core S&P Small-Cap E | Reduce -0.2% | 0.30% | −0.05 |
| CSCO Cisco Systems Inc. | Reduce -5.0% | 0.19% | −0.05 |
| ITW Illinois Tool Works | Reduce -1.8% | 0.29% | −0.05 |
| COR Cencora Inc. | Reduce -10.5% | 0.10% | −0.05 |
| QCOM Qualcomm Inc. | Reduce -15.0% | 0.05% | −0.04 |
| AMD Advanced Micro Devices | Reduce -10.3% | 0.10% | −0.04 |
| NOW ServiceNow Inc. | Reduce -27.1% | 0.03% | −0.04 |
| BDX Becton Dickinson and Co. | Reduce -14.1% | 0.05% | −0.04 |
| COST Costco Wholesale Corp. | Reduce -5.3% | 0.39% | −0.04 |
| MDLZ Mondelez International Inc. Class A | Reduce -26.2% | 0.07% | −0.04 |
| MRSH Marsh & McLennan Cos | Reduce -19.1% | 0.06% | −0.04 |
Portfolio Buys Q4 2025 → Q1 2026
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +763.4% | 13.12% | +11.21 |
| AVLC Avantis US LG Cap Eq ETF | Add +8110.4% | 4.46% | +4.39 |
| GII State Street SPDR S&P Global | Add +104.2% | 2.80% | +1.29 |
| DFIC Dimensional International Co. | Add +31.2% | 0.79% | +0.09 |
| XLK SS Technology Select Sector | Add +1296.2% | 0.09% | +0.08 |
| IBDW iShares Ibonds Dec 2031 Corp. | New | 0.07% | +0.07 |
| IBDS Ishrs Ibnds Dec 27 Corp. ETF | New | 0.06% | +0.06 |
| RSPT Invesco S&P 500 Equal Weight | Add +116.0% | 0.13% | +0.06 |
| XLF SS Financial Select Sector | New | 0.04% | +0.04 |
| RSPN Invesco S&P 500 Equal Weight | Add +90.1% | 0.11% | +0.04 |
| IGV iShares Expanded Tech-Softwa | New | 0.04% | +0.04 |
| XLC SS Comm Select Sector SPDR | New | 0.04% | +0.04 |
| XLY SS Consumer Disc Select Sect | New | 0.04% | +0.04 |
| XLRE SS Real Estate Select Sector | Add +77.2% | 0.12% | +0.04 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +64.8% | 0.12% | +0.04 |
| RSPD Invesco S&P 500 Equal Weight | Add +98.8% | 0.09% | +0.03 |
| RSPH Invesco S&P 500 Equal Weight | Add +78.3% | 0.11% | +0.03 |
| XLV SS Health Care Select Sector | New | 0.03% | +0.03 |
| XLI SS Industrial Select Sector | New | 0.03% | +0.03 |
| IBDV iShares Ibonds Dec 2030 Corp. | New | 0.03% | +0.03 |
| XLB SS Materials Select Sector | Add +28.5% | 0.18% | +0.03 |
| GTOP GS Tech Opportunities ETF | New | 0.03% | +0.03 |
| RSPG Invesco S&P 500 Equal Weight | Add +50.5% | 0.06% | +0.02 |
| RSPF Invesco S&P 500 Equal Weight | Add +93.6% | 0.06% | +0.02 |
| IBRX Immunitybio Inc. | Add +52.1% | 0.02% | +0.02 |
| IBMT iShares Ibonds Dec 2031 Muni | Add +80.8% | 0.06% | +0.02 |
| XLE SS Energy Select Sector | Add +212.5% | 0.02% | +0.02 |
| IBDU iShares Ibonds Dec 2029 Term | New | 0.02% | +0.02 |
| XLP SS Consumer Staples Sel Sect | Add +107.4% | 0.03% | +0.02 |
| WAT Waters Corp. | New | 0.01% | +0.01 |
| IBDX iShares Ibonds Dec 2032 TC | New | 0.01% | +0.01 |
| TMUS T-Mobile US Inc. | New | 0.01% | +0.01 |
| WMT Walmart Inc. | Add +25.0% | 0.08% | +0.01 |
| IBDT iShares Ibonds Dec 2028 ETF | Add +161.4% | 0.02% | +0.01 |
| GEV GE Vernova Inc. | Add +9.5% | 0.06% | +0.01 |
| MU Micron Technology Inc. | Add +134.8% | 0.02% | +0.01 |
| GS Goldman Sachs Group Inc. | New | 0.01% | +0.01 |
| VGT Vanguard Info Tech ETF | New | 0.01% | +0.01 |
| RSPS Invesco S&P 500 Equal Weight | Add +54.1% | 0.04% | +0.01 |
| NIC Nicolet Bankshares Inc. | New | 0.01% | +0.01 |
| IBMS ISHARESIBONDDEC2030MUNIBDETF | Add +115.8% | 0.02% | +0.01 |
| AMAT Applied Materials Inc. | Add +32.7% | 0.02% | +0.01 |
| RSPC Invesco S&P 500 Equal Weig C | Add +85.5% | 0.02% | +0.01 |
| CNH CNH Industrial NV | New | 0.01% | +0.01 |
| Q Qnity Electronics Inc. | New | 0.01% | +0.01 |
| STNG Scorpio Tankers Inc. | New | 0.01% | +0.01 |
| BE Bloom Energy Corp. Class A | New | 0.01% | +0.01 |
| IBTK iShares Ibonds Dec 2030 Trea | New | 0.01% | +0.01 |
| IBTJ iShares Ibonds Dec 2029 Term | New | 0.01% | +0.01 |
| GILD Gilead Sciences Inc. | 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 |