HILLS BANK & TRUST CO

Filed: 4/25/2025ACC: 0001309148-25-000005

📋 What this filing means

HILLS BANK & TRUST CO filed this quarterly 13F‑HR report disclosing 299 equity positions with a total reported market value of $1.42B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

299

Positions

$1.42B

Total AUM (reported)

29.61M

Total Shares

Allocation by class

COM$402.89M28.4%

TR UNIT$122.07M8.6%

VAN FTSE DEV MKT$97.27M6.8%

UTSER1 S&PDCRP$64.21M4.5%

BULSHS 2026 CB$52.67M3.7%

IBONDS 25 TRM TS$51.42M3.6%

HERMES TOTAL RET$49.21M3.5%

Portfolio Concentration

Top 3$283.55M20.0%

4–10$326.29M23.0%

11–25$326.18M23.0%

Rest$484.60M34.1%

Top 3 weight

20.0%

Top 10 weight

42.9%

Voting Authority Distribution

Total shares with voting rights: 29.61M

Sole

Full voting authority

29.54M

% of voting shares99.8%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

67.52K

% of voting shares0.2%

Investment Discretion (by position count)

Sole126

Shared0

Other173

Dominant voting typeSole · 99.8% of voting shares

Institutional Holdings299

Rows:

SPDR S&P 500 ETF TR

DFND

TR UNIT

Shares218.23K

TypeSH

Market value$122.07M

8.59%

Sole

218.23K

Shared

0.00

None

0.00

VANGUARD TAX-MANAGED FDS

DFND

VAN FTSE DEV MKT

Shares1.91M

TypeSH

Market value$97.27M

6.85%

Sole

1.91M

Shared

0.00

None

3.16K

SPDR S&P MIDCAP 400 ETF TR

DFND

UTSER1 S&PDCRP

Shares120.36K

TypeSH

Market value$64.21M

4.52%

Sole

120.36K

Shared

0.00

None

0.00

INVESCO EXCH TRD SLF IDX FD

DFND

BULSHS 2026 CB

Shares2.70M

TypeSH

Market value$52.67M

3.71%

Sole

2.70M

Shared

0.00

None

6.74K

ISHARES TR

DFND

IBONDS 25 TRM TS

Shares2.20M

TypeSH

Market value$51.42M

3.62%

Sole

2.20M

Shared

0.00

None

631.00

FEDERATED HERMES ETF TRUST

SOLE

HERMES TOTAL RET

Shares1.96M

TypeSH

Market value$49.21M

3.46%

Sole

1.96M

Shared

0.00

None

0.00

INVESCO EXCH TRD SLF IDX FD

DFND

BULSHS 2027 CB

Shares2.41M

TypeSH

Market value$47.19M

3.32%

Sole

2.40M

Shared

0.00

None

6.59K

INVESCO EXCH TRD SLF IDX FD

DFND

INVSCO BLSH 28

Shares2.29M

TypeSH

Market value$46.54M

3.28%

Sole

2.28M

Shared

0.00

None

6.41K

VANGUARD INTL EQUITY INDEX F

DFND

FTSE EMR MKT ETF

Shares897.36K

TypeSH

Market value$40.61M

2.86%

Sole

895.65K

Shared

0.00

None

1.71K

INVESCO EXCH TRD SLF IDX FD

DFND

BULETSHS 2029

Shares2.09M

TypeSH

Market value$38.64M

2.72%

Sole

2.08M

Shared

0.00

None

6.98K

INVESCO EXCH TRD SLF IDX FD

DFND

INVSCO 30 CORP

Shares2.01M

TypeSH

Market value$33.39M

2.35%

Sole

2.01M

Shared

0.00

None

795.00

SPDR SER TR

DFND

PORTFOLIO S&P400

Shares608.35K

TypeSH

Market value$31.14M

2.19%

Sole

607.45K

Shared

0.00

None

900.00

APPLE INC

DFND

COM

Shares130.56K

TypeSH

Market value$29.00M

2.04%

Sole

130.56K

Shared

0.00

None

0.00

MICROSOFT CORP

DFND

COM

Shares76.27K

TypeSH

Market value$28.63M

2.02%

Sole

76.27K

Shared

0.00

None

0.00

NVIDIA CORPORATION

DFND

COM

Shares244.57K

TypeSH

Market value$26.51M

1.87%

Sole

244.57K

Shared

0.00

None

0.00

VANGUARD BD INDEX FDS

DFND

TOTAL BND MRKT

Shares334.62K

TypeSH

Market value$24.58M

1.73%

Sole

334.62K

Shared

0.00

None

0.00

FLEXSHARES TR

DFND

MORNSTAR UPSTR

Shares621.55K

TypeSH

Market value$24.12M

1.70%

Sole

620.73K

Shared

0.00

None

819.00

PROCTER AND GAMBLE CO

DFND

COM

Shares118.11K

TypeSH

Market value$20.13M

1.42%

Sole

118.11K

Shared

0.00

None

0.00

ALPHABET INC

DFND

CAP STK CL C

Shares124.14K

TypeSH

Market value$19.39M

1.37%

Sole

124.14K

Shared

0.00

None

0.00

SPDR SER TR

SOLE

PRTFLO S&P500 VL

Shares325K

TypeSH

Market value$16.60M

1.17%

Sole

325K

Shared

0.00

None

0.00

SPDR INDEX SHS FDS

DFND

S&P GBLINF ETF

Shares242.45K

TypeSH

Market value$15.03M

1.06%

Sole

242.45K

Shared

0.00

None

0.00

FLEXSHARES TR

DFND

GLB QLT R/E IDX

Shares256.65K

TypeSH

Market value$14.87M

1.05%

Sole

255.84K

Shared

0.00

None

810.00

FASTENAL CO

DFND

COM

Shares187K

TypeSH

Market value$14.50M

1.02%

Sole

187K

Shared

0.00

None

0.00

JPMORGAN CHASE & CO.

DFND

COM

Shares58.20K

TypeSH

Market value$14.28M

1.00%

Sole

58.20K

Shared

0.00

None

0.00

ISHARES TR

DFND

MSCI EAFE ETF

Shares171.45K

TypeSH

Market value$14.01M

0.99%

Sole

171.45K

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
SPDR S&P 500 ETF TRDFND	TR UNIT	218.23K	SH	$122.07M 8.59%	218.23K	0.00
VANGUARD TAX-MANAGED FDSDFND	VAN FTSE DEV MKT	1.91M	SH	$97.27M 6.85%	1.91M	3.16K
SPDR S&P MIDCAP 400 ETF TRDFND	UTSER1 S&PDCRP	120.36K	SH	$64.21M 4.52%	120.36K	0.00
INVESCO EXCH TRD SLF IDX FDDFND	BULSHS 2026 CB	2.70M	SH	$52.67M 3.71%	2.70M	6.74K
ISHARES TRDFND	IBONDS 25 TRM TS	2.20M	SH	$51.42M 3.62%	2.20M	631.00
FEDERATED HERMES ETF TRUSTSOLE	HERMES TOTAL RET	1.96M	SH	$49.21M 3.46%	1.96M	0.00
INVESCO EXCH TRD SLF IDX FDDFND	BULSHS 2027 CB	2.41M	SH	$47.19M 3.32%	2.40M	6.59K
INVESCO EXCH TRD SLF IDX FDDFND	INVSCO BLSH 28	2.29M	SH	$46.54M 3.28%	2.28M	6.41K
VANGUARD INTL EQUITY INDEX FDFND	FTSE EMR MKT ETF	897.36K	SH	$40.61M 2.86%	895.65K	1.71K
INVESCO EXCH TRD SLF IDX FDDFND	BULETSHS 2029	2.09M	SH	$38.64M 2.72%	2.08M	6.98K
INVESCO EXCH TRD SLF IDX FDDFND	INVSCO 30 CORP	2.01M	SH	$33.39M 2.35%	2.01M	795.00
SPDR SER TRDFND	PORTFOLIO S&P400	608.35K	SH	$31.14M 2.19%	607.45K	900.00
APPLE INCDFND	COM	130.56K	SH	$29.00M 2.04%	130.56K	0.00
MICROSOFT CORPDFND	COM	76.27K	SH	$28.63M 2.02%	76.27K	0.00
NVIDIA CORPORATIONDFND	COM	244.57K	SH	$26.51M 1.87%	244.57K	0.00
VANGUARD BD INDEX FDSDFND	TOTAL BND MRKT	334.62K	SH	$24.58M 1.73%	334.62K	0.00
FLEXSHARES TRDFND	MORNSTAR UPSTR	621.55K	SH	$24.12M 1.70%	620.73K	819.00
PROCTER AND GAMBLE CODFND	COM	118.11K	SH	$20.13M 1.42%	118.11K	0.00
ALPHABET INCDFND	CAP STK CL C	124.14K	SH	$19.39M 1.37%	124.14K	0.00
SPDR SER TRSOLE	PRTFLO S&P500 VL	325K	SH	$16.60M 1.17%	325K	0.00
SPDR INDEX SHS FDSDFND	S&P GBLINF ETF	242.45K	SH	$15.03M 1.06%	242.45K	0.00
FLEXSHARES TRDFND	GLB QLT R/E IDX	256.65K	SH	$14.87M 1.05%	255.84K	810.00
FASTENAL CODFND	COM	187K	SH	$14.50M 1.02%	187K	0.00
JPMORGAN CHASE & CO.DFND	COM	58.20K	SH	$14.28M 1.00%	58.20K	0.00
ISHARES TRDFND	MSCI EAFE ETF	171.45K	SH	$14.01M 0.99%	171.45K	0.00

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