Hilltop Holdings Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Hilltop Holdings Inc. reported 878 stock positions worth $1.7 billion. Its top holding was Microsoft (MSFT) at 3.7% of the portfolio, followed by Nvidia (NVDA, 2.3%) and SPDR Gold Shares (GLD, 2.0%). Compared with Q3 2025, it opened 93 new positions, sold out of 119, added to 300 and reduced 457. The biggest buy was Vanguard S&P 500 ETF (VOO, shares +115%) and the biggest sale Apple (AAPL, shares −87%).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001265131
- Portfolio Value
- $1.7B (Q4 2025)
- SEC Filing
- 0001104659-26-016481 ↗ filed Feb 17, 2026
Holdings Value
Holdings 878 stocks · $1.7B
| MSFT Microsoft Corp. | 3.66% | 125,974 | $60.9M | Reduce -4.8% |
| NVDA Nvidia Corp. | 2.33% | 208,006 | $38.8M | Reduce -5.4% |
| GLD SPDR Gold Shares | 2.03% | 85,198 | $33.8M | Add +3.3% |
| GOOGL Alphabet Inc. Class A | 1.75% | 92,726 | $29.0M | Reduce -6.5% |
| AVGO Broadcom Inc. | 1.67% | 80,423 | $27.8M | Reduce -4.8% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 1.47% | 222,456 | $24.5M | Add +4.2% |
| JPM JPMorgan Chase & Co. | 1.33% | 68,692 | $22.1M | Reduce -5.7% |
| V Visa Inc. Class A | 1.19% | 56,260 | $19.7M | Reduce -9.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.15% | 28,112 | $19.2M | Reduce -24.2% |
| GOOG Alphabet Inc. Class C | 1.09% | 57,573 | $18.1M | Reduce -0.6% |
| MBB iShares MBS ETF | 1.07% | 186,253 | $17.7M | Add +10.6% |
| WMT Walmart Inc. | 0.95% | 141,391 | $15.8M | Add +12.9% |
| VOO Vanguard S&P 500 ETF | 0.92% | 24,442 | $15.3M | Add +115.2% |
| META Meta Platforms Inc. Class A | 0.80% | 20,229 | $13.4M | Reduce -2.8% |
| SGOV iShares 0-3 Month Treasury B | 0.80% | 132,604 | $13.3M | Add +73.0% |
| CVX Chevron Corp. | 0.79% | 86,630 | $13.2M | Reduce -16.6% |
| QQQ Invesco QQQ Trust Series 1 | 0.79% | 21,367 | $13.1M | Reduce -50.1% |
| MA Mastercard Inc. Class A | 0.78% | 22,852 | $13.0M | Reduce -3.6% |
| HD Home Depot Inc. | 0.78% | 37,772 | $13.0M | Reduce -19.2% |
| ABBV Abbvie Inc. | 0.77% | 55,927 | $12.8M | Reduce -0.6% |
| XOM Exxon Mobil Corp. | 0.69% | 95,132 | $11.4M | Add +10.9% |
| IWM iShares Russell 2000 ETF | 0.67% | 45,515 | $11.2M | Reduce -18.0% |
| AAPL Apple Inc. | 0.67% | 41,206 | $11.2M | Reduce -87.0% |
| ETN Eaton Corp. PLC | 0.63% | 32,758 | $10.4M | Add +4.5% |
| LLY Eli Lilly & Co. | 0.59% | 9,168 | $9.9M | Reduce -44.4% |
| MS Morgan Stanley | 0.59% | 54,904 | $9.7M | Reduce -4.8% |
| UNP Union Pacific Corp. | 0.58% | 41,942 | $9.7M | Reduce -0.3% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.57% | 19,348 | $9.4M | Add +2.9% |
| ORCL Oracle Corp. | 0.56% | 47,564 | $9.3M | Reduce -12.7% |
| CSCO Cisco Systems Inc. | 0.55% | 118,553 | $9.1M | Reduce -4.3% |
| JNJ Johnson & Johnson | 0.53% | 42,415 | $8.8M | Add +0.3% |
| MCD McDonald's Corp. | 0.53% | 28,690 | $8.8M | Reduce -0.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.53% | 57,034 | $8.8M | Reduce -5.0% |
| PM Philip Morris International | 0.52% | 53,591 | $8.6M | Reduce -5.7% |
| XLK SS Technology Select Sector | 0.51% | 59,402 | $8.6M | Reduce -1.5% |
| NEE Nextera Energy Inc. | 0.51% | 106,213 | $8.5M | Add +4.5% |
| PH Parker Hannifin Corp. | 0.50% | 9,474 | $8.3M | Reduce -5.4% |
| JPST JPMorgan Ultra-Short Income | 0.50% | 164,196 | $8.3M | Add +43.5% |
| IWF iShares Russell 1000 Growth | 0.49% | 17,199 | $8.1M | Add +19.8% |
| BND Vanguard Total Bond Market | 0.48% | 107,717 | $8.0M | Reduce -3.8% |
| IWD iShares Russell 1000 Value E | 0.46% | 36,660 | $7.7M | Add +696.1% |
| GOVT iShares US Treasury Bond ETF | 0.45% | 326,086 | $7.5M | Add +9.7% |
| LIN Linde PLC | 0.45% | 17,485 | $7.5M | Reduce -0.5% |
| BNDX Vanguard Total Intl Bond ETF | 0.44% | 151,566 | $7.3M | Reduce -0.4% |
| XLV SS Health Care Select Sector | 0.43% | 46,451 | $7.2M | Add +64.2% |
| TYA Simplify Intermediate Term | 0.43% | 529,725 | $7.2M | Add +477.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.41% | 22,875 | $6.8M | Reduce -3.0% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.41% | 74,009 | $6.8M | Add +68.9% |
| IEF iShares 7-10 Year Treasury B | 0.40% | 68,972 | $6.6M | Add +1580.2% |
| SPGI S&P Global Inc. | 0.39% | 12,536 | $6.6M | Reduce -15.5% |
| IVV iShares Core S&P 500 ETF | 0.39% | 9,520 | $6.5M | Add +3.4% |
| FLOT iShares Floating Rate Bond E | 0.39% | 127,941 | $6.5M | Add +3.0% |
| VGT Vanguard Info Tech ETF | 0.39% | 8,620 | $6.5M | Reduce -2.2% |
| UNH Unitedhealth Group Inc. | 0.39% | 19,447 | $6.4M | Reduce -6.2% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.38% | 13,293 | $6.4M | Add +2.2% |
| JNK SS SPDR BB High Yield Bond | 0.37% | 64,079 | $6.2M | Add +18.5% |
| COST Costco Wholesale Corp. | 0.37% | 7,078 | $6.1M | Reduce -4.6% |
| XLF SS Financial Select Sector | 0.37% | 111,166 | $6.1M | Reduce -20.8% |
| HON Honeywell International Inc. | 0.37% | 31,119 | $6.1M | Reduce -4.2% |
| ACN Accenture PLC Class A | 0.36% | 22,076 | $5.9M | Reduce -13.2% |
| TLT iShares 20+ Year Treasury BD | 0.35% | 67,551 | $5.9M | Reduce -17.0% |
| EFA iShares MSCI Eafe ETF | 0.35% | 61,306 | $5.9M | Add +1.5% |
| LMT Lockheed Martin Corp. | 0.35% | 11,878 | $5.7M | Reduce -3.2% |
| CB Chubb Ltd. | 0.34% | 18,346 | $5.7M | Reduce -1.9% |
| TSM Taiwan Semiconductor-SP ADR | 0.34% | 18,783 | $5.7M | Add +15.9% |
| XLE SS Energy Select Sector | 0.34% | 127,540 | $5.7M | Add +124.3% |
| PG The Procter & Gamble Co. | 0.34% | 39,413 | $5.6M | Reduce -9.5% |
| SPSB SS SPDR P St C Corp. ETF | 0.33% | 183,700 | $5.5M | Add +7.5% |
| IJH iShares Core S&P Midcap ETF | 0.33% | 83,749 | $5.5M | Add +3.1% |
| ET Energy Transfer LP | 0.33% | 331,379 | $5.5M | Add +3.6% |
| GDX Vaneck Gold Miners ETF | 0.32% | 62,038 | $5.3M | Reduce -4.4% |
| VZ Verizon Communications Inc. | 0.32% | 129,929 | $5.3M | Reduce -7.3% |
| RJF Raymond James Financial Inc. | 0.32% | 32,904 | $5.3M | Reduce -1.9% |
| EPD Enterprise Products Partners | 0.32% | 164,623 | $5.3M | Add +0.6% |
| RF Regions Financial Corp. | 0.32% | 194,729 | $5.3M | Add +23.8% |
| A Agilent Technologies Inc. | 0.32% | 38,675 | $5.3M | Add +0.7% |
| MRK Merck & Co. Inc. | 0.32% | 49,779 | $5.2M | Reduce -4.1% |
| VTI VG Morningstar TS MKT ETF-US | 0.31% | 15,616 | $5.2M | Reduce -2.6% |
| IJR iShares Core S&P Small-Cap E | 0.30% | 42,137 | $5.1M | Add +10.1% |
| TSLA Tesla Inc. | 0.30% | 11,002 | $4.9M | Reduce -10.0% |
| KO The Coca-Cola Co. | 0.30% | 70,559 | $4.9M | Reduce -4.5% |
| RSP Invesco S&P 500 Equal Weight | 0.30% | 25,742 | $4.9M | Add +16.7% |
| IBTH iShares Ibonds Dec 2027 Term | 0.29% | 217,937 | $4.9M | Add +9.3% |
| EMB iShares JP Morgan Usd Emergi | 0.28% | 48,520 | $4.7M | Add +29.6% |
| AMZN Amazon.com Inc. | 0.28% | 20,035 | $4.6M | Reduce -85.5% |
| LRCX Lam Research Corp. | 0.28% | 26,985 | $4.6M | Reduce -2.4% |
| CMS CMS Energy Corp. | 0.27% | 64,945 | $4.5M | Reduce -2.5% |
| XLC SS Comm Select Sector SPDR | 0.26% | 37,158 | $4.4M | Reduce -4.5% |
| PFE Pfizer Inc. | 0.26% | 173,948 | $4.3M | Add +8.3% |
| MU Micron Technology Inc. | 0.25% | 14,821 | $4.2M | Add +13.2% |
| T AT&T Inc. | 0.25% | 169,914 | $4.2M | Reduce -13.4% |
| IYE iShares U.S. Energy ETF | 0.25% | 88,374 | $4.2M | Add +9.0% |
| NFLX Netflix Inc. | 0.25% | 44,759 | $4.2M | Reduce -18.8% |
| CAT Caterpillar Inc. | 0.25% | 7,266 | $4.2M | Add +15.0% |
| BTAL Agf US Market Neutral Anti-B | 0.24% | 282,916 | $4.1M | New |
| PLD Prologis Inc. | 0.24% | 31,696 | $4.0M | Reduce -12.1% |
| DVY iShares Select Dividend ETF | 0.24% | 28,593 | $4.0M | Add +6.7% |
| VGK Vanguard Ftse Europe ETF | 0.24% | 48,156 | $4.0M | Reduce -7.9% |
| ISRG Intuitive Surgical Inc. | 0.24% | 7,006 | $4.0M | Reduce -2.9% |
| BLK BlackRock Inc. | 0.24% | 3,685 | $3.9M | Reduce -14.8% |
Options reported separately and not counted above: SMH calls ($16.6M), IWM calls ($10.6M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $66K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SOUNW Soundhound AI Inc. | *W EXP 04/26/202 | 19,100 | $66K | Reduce -45.6% |
Total filed on the 13F, all lines: $1.7B.
Portfolio Sells Q3 2025 → Q4 2025
| AAPL Apple Inc. | Reduce -87.0% | 0.67% | −3.58 |
| AMZN Amazon.com Inc. | Reduce -85.5% | 0.28% | −1.32 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -85.5% | 0.13% | −0.67 |
| ABT Abbott Laboratories | Reduce -96.6% | 0.02% | −0.59 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -50.1% | 0.79% | −0.57 |
| APH Amphenol Corp. Class A | Reduce -93.9% | 0.04% | −0.48 |
| AMGN Amgen Inc. | Reduce -88.4% | 0.07% | −0.37 |
| CWB SS SPDR BB Conv Sec ETF | Reduce -97.0% | 0.01% | −0.36 |
| PCY Invesco Emerging Markets Sov | Sold out | 0.00% | −0.31 |
| BIZD Vaneck BDC Income ETF | Reduce -91.8% | 0.03% | −0.31 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -62.7% | 0.22% | −0.30 |
| SPHB Invesco S&P 500 High Beta Et | Reduce -86.5% | 0.05% | −0.28 |
| ADP Automatic Data Processing | Reduce -95.5% | 0.01% | −0.27 |
| SPUC Simplify US Equity Income Et | Sold out | 0.00% | −0.26 |
| ORCL Oracle Corp. | Reduce -12.7% | 0.56% | −0.25 |
| HD Home Depot Inc. | Reduce -19.2% | 0.78% | −0.22 |
| CAFX Congress Intermediate Bond | Reduce -91.7% | 0.02% | −0.22 |
| AVEM Avantis Emerging Markets Eq | Sold out | 0.00% | −0.18 |
| EQIX Equinix Inc. | Reduce -87.8% | 0.03% | −0.17 |
| AMD Advanced Micro Devices | Reduce -83.8% | 0.05% | −0.17 |
| RTX RTX Corp. | Reduce -72.7% | 0.08% | −0.16 |
| INFL Horizon Kinetics Infl Benef | Sold out | 0.00% | −0.16 |
| ANET Arista Networks Inc. | Sold out | 0.00% | −0.16 |
| WRB WR Berkley Corp. | Sold out | 0.00% | −0.16 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -24.2% | 1.15% | −0.15 |
| AMAT Applied Materials Inc. | Reduce -92.9% | 0.02% | −0.14 |
| PDBA Invesco Agriculture Cmdtyk-1 | Reduce -89.5% | 0.02% | −0.14 |
| IVOL Quadratic Int Rte Vol Infl H | Reduce -90.5% | 0.02% | −0.13 |
| DGRO iShares Core Dividend Growth | Reduce -70.5% | 0.07% | −0.13 |
| MTUM iShares MSCI USA Momentum Fa | Reduce -66.2% | 0.07% | −0.12 |
| AZO AutoZone Inc. | Reduce -85.1% | 0.02% | −0.12 |
| APD Air Products & Chemicals Inc. | Reduce -78.5% | 0.03% | −0.12 |
| VRSN Verisign Inc. | Sold out | 0.00% | −0.12 |
| TRV The Travelers Cos Inc. | Reduce -86.5% | 0.02% | −0.12 |
| AXP American Express Co. | Reduce -63.9% | 0.10% | −0.12 |
| EPP iShares MSCI Pacific Ex Japa | Sold out | 0.00% | −0.10 |
| OZ Belpointe Prep LLC Class A | Sold out | 0.00% | −0.10 |
| XLY SS Consumer Disc Select Sect | Reduce -43.9% | 0.18% | −0.10 |
| EWC iShares MSCI Canada ETF | Sold out | 0.00% | −0.10 |
| MSTR Strategy Inc. | Sold out | 0.00% | −0.10 |
| NFLX Netflix Inc. | Reduce -18.8% | 0.25% | −0.10 |
| EWA iShares MSCI Australia ETF | Sold out | 0.00% | −0.10 |
| ZTS Zoetis Inc. | Reduce -32.5% | 0.18% | −0.09 |
| BA The Boeing Co. | Sold out | 0.00% | −0.08 |
| BAC Bank of America Corp. | Reduce -56.1% | 0.08% | −0.07 |
| LLY Eli Lilly & Co. | Reduce -44.4% | 0.59% | −0.07 |
| DISV Dimensional International SM | Reduce -62.4% | 0.06% | −0.07 |
| PFF iShares Preferred & Income S | Reduce -73.9% | 0.03% | −0.07 |
| DEXC Dimensional Em Ex Cce ETF | Reduce -40.0% | 0.18% | −0.07 |
| JKHY Jack Henry & Associates Inc. | Sold out | 0.00% | −0.07 |
Portfolio Buys Q3 2025 → Q4 2025
| VOO Vanguard S&P 500 ETF | Add +115.2% | 0.92% | +0.55 |
| GLD SPDR Gold Shares | Add +3.3% | 2.03% | +0.48 |
| IWD iShares Russell 1000 Value E | Add +696.1% | 0.46% | +0.41 |
| SGOV iShares 0-3 Month Treasury B | Add +73.0% | 0.80% | +0.39 |
| IEF iShares 7-10 Year Treasury B | Add +1580.2% | 0.40% | +0.38 |
| TYA Simplify Intermediate Term | Add +477.3% | 0.43% | +0.36 |
| WMT Walmart Inc. | Add +12.9% | 0.95% | +0.26 |
| BTAL Agf US Market Neutral Anti-B | New | 0.24% | +0.24 |
| MKTN Fed HRMS MDT MKT Neutral ETF | New | 0.23% | +0.23 |
| XLV SS Health Care Select Sector | Add +64.2% | 0.43% | +0.22 |
| MBB iShares MBS ETF | Add +10.6% | 1.07% | +0.22 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Add +4.2% | 1.47% | +0.22 |
| XLE SS Energy Select Sector | Add +124.3% | 0.34% | +0.21 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +68.9% | 0.41% | +0.19 |
| JPST JPMorgan Ultra-Short Income | Add +43.5% | 0.50% | +0.19 |
| XOM Exxon Mobil Corp. | Add +10.9% | 0.69% | +0.18 |
| SRE Sempra | Add +269.3% | 0.23% | +0.17 |
| EWK iShares MSCI Belgium ETF | New | 0.15% | +0.15 |
| MU Micron Technology Inc. | Add +13.2% | 0.25% | +0.14 |
| IWF iShares Russell 1000 Growth | Add +19.8% | 0.49% | +0.13 |
| TFLO iShares Treasury Floating Ra | New | 0.13% | +0.13 |
| PFIX Simplify Interest Rate Hedge | New | 0.12% | +0.12 |
| IWB iShares Russell 1000 ETF | Add +113.8% | 0.20% | +0.12 |
| ILF iShares Latin America 40 ETF | New | 0.11% | +0.11 |
| JNJ Johnson & Johnson | Add +0.3% | 0.53% | +0.11 |
| NEE Nextera Energy Inc. | Add +4.5% | 0.51% | +0.11 |
| SHV iShares 0-1 Year Treasury Bo | Add +136.3% | 0.17% | +0.10 |
| TSM Taiwan Semiconductor-SP ADR | Add +15.9% | 0.34% | +0.10 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +72.1% | 0.21% | +0.10 |
| GNR State Street SPDR S&P Global | New | 0.10% | +0.10 |
| AKRE Akre Focus ETF | New | 0.10% | +0.10 |
| RF Regions Financial Corp. | Add +23.8% | 0.32% | +0.10 |
| INDA iShares MSCI India ETF | New | 0.10% | +0.10 |
| JNK SS SPDR BB High Yield Bond | Add +18.5% | 0.37% | +0.09 |
| EMB iShares JP Morgan Usd Emergi | Add +29.6% | 0.28% | +0.09 |
| CAT Caterpillar Inc. | Add +15.0% | 0.25% | +0.09 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +2.9% | 0.57% | +0.09 |
| BNDD Quadratic Deflation ETF | New | 0.09% | +0.09 |
| GOVT iShares US Treasury Bond ETF | Add +9.7% | 0.45% | +0.09 |
| DFNL Davis Select Financial ETF | New | 0.09% | +0.09 |
| QLC NT US Qual LC ETF | New | 0.08% | +0.08 |
| TUA Sim St Treas Fut Strat ETF | Add +56.3% | 0.19% | +0.08 |
| EIRL iShares MSCI Ireland ETF | New | 0.08% | +0.08 |
| MEDP Medpace Holdings Inc. | Add +371.3% | 0.09% | +0.08 |
| BMY Bristol-Myers Squibb Co. | Add +30.1% | 0.18% | +0.08 |
| RSP Invesco S&P 500 Equal Weight | Add +16.7% | 0.30% | +0.08 |
| TBLU Tortoise Global Water ETF | New | 0.07% | +0.07 |
| IGLB iShares 10+ Year Inv GR Corp. | New | 0.07% | +0.07 |
| USDU Wisdomtree BBG Usd Bullish | New | 0.07% | +0.07 |
| CME Cme Group Inc. | Add +28.5% | 0.22% | +0.07 |
Options Activity Q3 2025 → Q4 2025
| SMH Vaneck Semiconductor ETF | call | New | 46,100 | $16.6M |
| IWM iShares Russell 2000 ETF | call | New | 43,100 | $10.6M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025
| SOUNW Soundhound AI Inc. | *W EXP 04/26/202 | Reduce -45.6% | 19,100 | $66K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 672 | $1.2B | AAPL, GLD, QQQ, NVDA, VOO |
| Q1 2026 | 633 | $1.1B | AAPL, GLD, LQD, QQQ, AMZN |
| Q4 2025 | 878 | $1.7B | MSFT, NVDA, GLD, GOOGL, AVGO |
| Q3 2025 | 903 | $1.9B | AAPL, MSFT, NVDA, AMZN, GLD |
| Q2 2025 | 859 | $1.6B | MSFT, NVDA, GLD, SPY, AVGO |
| Q1 2025 | 841 | $1.6B | AAPL, MSFT, GLD, AMZN, NVDA |
| Q4 2024 | 836 | $1.6B | AAPL, MSFT, AMZN, NVDA, GLD |
| Q3 2024 | 816 | $1.5B | AAPL, MSFT, GLD, LQD, AMZN |
| Q2 2024 | 597 | $857.9M | AAPL, LQD, MSFT, SPY, GLD |
| Q1 2024 | 619 | $900.1M | AAPL, LQD, MSFT, GLD, HYG |