Hilltop National Bank
Long book
$420.5M
Q1 2026
Positions
795
Top-10 weight
29%
concentration
Last quarter
+11.7%
SPY +14.8%
Turnover
13%
of book per quarter
Strategy in plain words
auto-generated from filingsHilltop National Bank is an institutional manager, running a $420.5M US long book across 795 positions.
The portfolio is moderately concentrated (top 10 ≈ 29% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: MICROSOFT CORP, ISHARES MSCI EAFE ETF, HORIZON KINETICS INFL BENEF, VANGUARD S&P 500 ETF, NVIDIA CORP.
Over the last 8 quarters its long book ran on average 0.3pp per quarter behind the S&P 500, beating the index in 3 of 8 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.8%
Q2 2024
+6.1%
Q3 2024
+0.2%
Q4 2024
-1.6%
Q2 2025
+6.6%
Q3 2025
+1.4%
Q4 2025
-0.4%
Q1 2026
+11.7%
Sector allocation
Technology 32%
Financials 14%
Industrials 11%
Healthcare 9%
Consumer discretionary 9%
Energy 7%
Services media 5%
Utilities 4%
Long book by quarter
What does Hilltop National own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| MSFT MICROSOFT CORP | Technology | 65.4K | $24.2M | 5.8% | -0.5% |
| NVDA NVIDIA CORP | Technology | 66.1K | $11.5M | 2.7% | -1.2% |
| AAPL APPLE INC | Technology | 42.0K | $10.7M | 2.5% | +0.6% |
| XOM EXXON MOBIL CORP | Energy | 36.4K | $6.2M | 1.5% | +1.0% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 11.6K | $5.6M | 1.3% | +0.9% |
| LLY ELI LILLY & CO | Healthcare | 5.3K | $4.9M | 1.2% | +0.2% |
| AVGO BROADCOM INC | Technology | 12.4K | $3.8M | 0.9% | -7.6% |
| ANET ARISTA NETWORKS INC | Technology | 29.5K | $3.6M | 0.9% | -4.1% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 3.6K | $3.6M | 0.9% | -1.9% |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 5 | $3.6M | 0.9% | Held |
| PWR QUANTA SERVICES INC | Industrials | 6.5K | $3.6M | 0.9% | -4.6% |
| NFLX NETFLIX INC | Services media | 36.6K | $3.5M | 0.8% | -3.2% |
| WMT WALMART INC | Consumer discretionary | 27.9K | $3.5M | 0.8% | +1.3% |
| JPM JPMORGAN CHASE & CO | Financials | 11.2K | $3.3M | 0.8% | +0.1% |
| JNJ JOHNSON & JOHNSON | Healthcare | 12.9K | $3.1M | 0.7% | -1.2% |
| GLW CORNING INC | Industrials | 20.5K | $2.8M | 0.7% | -3.7% |
| SO SOUTHERN CO/THE | Utilities | 28.5K | $2.8M | 0.7% | -2.6% |
| STXN SEAGATE TECHNOLOGY HOLDINGS | — | 6.7K | $2.6M | 0.6% | -25.1% |
| TT TRANE TECHNOLOGIES PLC | Technology | 6.3K | $2.6M | 0.6% | -0.9% |
| PEP PEPSICO INC | Consumer staples | 16.6K | $2.6M | 0.6% | -1.5% |
| META META PLATFORMS INC-CLASS A | Technology | 4.5K | $2.6M | 0.6% | +3.2% |
| AMGN AMGEN INC | Healthcare | 6.9K | $2.4M | 0.6% | -0.3% |
| AXP AMERICAN EXPRESS CO | Financials | 7.9K | $2.4M | 0.6% | -0.6% |
| BX BLACKSTONE INC | Financials | 19.7K | $2.3M | 0.5% | +37.0% |
| AMP AMERIPRISE FINANCIAL INC | Financials | 5.0K | $2.2M | 0.5% | -3.1% |
| GOOGL ALPHABET INC-CL A | Technology | 7.5K | $2.2M | 0.5% | +0.6% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 8.9K | $2.2M | 0.5% | +0.1% |
| PSX PHILLIPS 66 | Energy | 11.7K | $2.1M | 0.5% | -0.4% |
| MRVL MARVELL TECHNOLOGY INC | Technology | 21.3K | $2.1M | 0.5% | +1.1% |
| CAT CATERPILLAR INC | Industrials | 2.9K | $2.0M | 0.5% | 0.0% |
| KLAC KLA CORP | Other | 1.4K | $2.0M | 0.5% | -36.4% |
| TMUS T-MOBILE US INC | Communications | 9.3K | $2.0M | 0.5% | -0.3% |
| AMZN AMAZON.COM INC | Consumer discretionary | 9.3K | $1.9M | 0.5% | +4.8% |
| CVX CHEVRON CORP | Energy | 8.7K | $1.8M | 0.4% | +1.8% |
| CSX CSX CORP | Industrials | 42.6K | $1.8M | 0.4% | +0.8% |
| DE DEERE & CO | Industrials | 3.1K | $1.7M | 0.4% | -3.5% |
| COP CONOCOPHILLIPS | Energy | 13.2K | $1.7M | 0.4% | -8.5% |
| MDT MEDTRONIC PLC | Healthcare | 20.0K | $1.7M | 0.4% | -4.2% |
| QSR RESTAURANT BRANDS INTERN | Consumer discretionary | 22.7K | $1.7M | 0.4% | -3.8% |
| MA MASTERCARD INC - A | Services media | 3.4K | $1.7M | 0.4% | -2.8% |
| CSCO CISCO SYSTEMS INC | Technology | 20.8K | $1.6M | 0.4% | -1.9% |
| TXN TEXAS INSTRUMENTS INC | Technology | 7.8K | $1.5M | 0.4% | +11.1% |
| DGX QUEST DIAGNOSTICS INC | Healthcare | 7.6K | $1.5M | 0.4% | +0.7% |
| HON HONEYWELL INTERNATIONAL INC | Industrials | 6.6K | $1.5M | 0.4% | 0.0% |
| PG PROCTER & GAMBLE CO/THE | Other | 10.2K | $1.5M | 0.4% | -37.7% |
| NEM NEWMONT CORP | Materials | 13.5K | $1.5M | 0.3% | +1.0% |
| UNH UNITEDHEALTH GROUP INC | Financials | 5.4K | $1.5M | 0.3% | +5.8% |
| MCK MCKESSON CORP | Consumer discretionary | 1.6K | $1.4M | 0.3% | +1.9% |
| OKE ONEOK INC | Utilities | 15.4K | $1.4M | 0.3% | Held |
| LOW LOWE'S COS INC | Consumer discretionary | 5.7K | $1.4M | 0.3% | -3.2% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 2, 2026 | 1068 | $420.5M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 7, 2026 | 1040 | $413.6M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 8, 2025 | 1057 | $406.1M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 21, 2025 | 1060 | $383.3M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 10, 2025 | 1022 | $332.6M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 15, 2024 | 1075 | $329.3M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 10, 2024 | 1074 | $310.9M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 6, 2024 | 1033 | $294.4M | canonical | SEC ↗ |
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