HN
Hilltop National Bank 13F Filing (Q3 2026) — Top Positions & Stock Picks
Hilltop National BankCIK: 0002021658
Diversified strategyMomentum followerSector-focused
Total reported value
$464.9M
Reporting period: 2026-09-30 · Number of holdings: 1053
Hilltop National Bank disclosed 1053 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $464.9M and a quarterly turnover rate of 18.2%.
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Personality snowflake
- Concentration
- 6.53
- Portfolio Stability
- 18.2
- Momentum
- 100
- Sector conviction
- 67.86
- Diversification
- 100
- Sizing Uniformity
- 65.58
Hilltop National Bank's disclosed holdings carry a Herfindahl concentration index of 0.016 — mathematically equivalent to about 61 equally-sized positions, well below its 1053 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 3.44), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 62% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd MSFT
+1.0% $9.5M
Sold out XOM
Trim GLW
-9.4% -$2.3M
Add AAPL
+1.6% $2.0M
Add NVDA
+0.6% $1.9M
Trim IBM
-77.2% -$2.0M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 1053 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | Stock-Tech | 7.30% | +2.08% | +0.96% | |
| 2 | EFA | Ishares Msci Eafe ETF | ETF-Other | 4.34% | +0.23% | +4.64% | |
| 3 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 3.41% | +0.09% | — | |
| 4 | INFL | Horizon Kinetics Infl Benef | ETF-Other | 3.25% | +0.26% | +7.43% | |
| 5 | NVDA | Nvidia CORP | Stock-Tech | 3.21% | +0.44% | +0.64% | |
| 6 | AAPL | Apple Inc | Stock-Tech | 2.99% | +0.45% | +1.61% | |
| 7 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 2.17% | -0.02% | -3.81% | |
| 8 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 1.70% | -0.03% | — | |
| 9 | VWO | Vanguard Ftse Emerging Marke | ETF-Emerging Markets | 1.62% | +0.15% | +10.60% | |
| 10 | VOE | Vanguard Mid-cap Value ETF | ETF-Other | 1.60% | -0.04% | -1.95% | |
| 11 | IAU | Ishares Gold Trust | ETF-Commodities | 1.60% | +0.41% | +28.76% | |
| 12 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 1.47% | -0.07% | -0.93% | |
| 13 | IJH | Ishares Core S&p Midcap ETF | ETF-Other | 1.31% | -0.08% | +0.00% | |
| 14 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.31% | -0.03% | -0.06% | |
| 15 | IWP | Ishares Russell Mid-cap Grow | ETF-Other | 1.27% | -0.08% | -0.04% | |
| 16 | ANET | Arista Networks Inc | Stock-Tech | 1.26% | +0.21% | -0.89% | |
| 17 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.24% | +0.02% | +1.27% | |
| 18 | MRVL | Marvell Technology Inc | Stock-Tech | 1.20% | -0.16% | -1.25% | |
| 19 | VBR | Vanguard Small-cap Value ETF | ETF-Other | 1.03% | -0.04% | +0.20% | |
| 20 | STX | Seagate Technology Holdings plc | Stock-Tech | 1.01% | -0.24% | -16.46% | |
| 21 | VBK | Vanguard Small-cap Grwth ETF | ETF-Other | 0.94% | -0.07% | -0.45% | |
| 22 | PWR | Quanta Services Inc | Stock-Industrials | 0.88% | -0.11% | -1.10% | |
| 23 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.87% | -0.03% | -3.88% | |
| 24 | IVW | Ishares S&p 500 Growth ETF | ETF-Large Cap & Growth | 0.87% | +0.05% | +1.27% | |
| 25 | AVGO | Broadcom Inc | Stock-Tech | 0.86% | -0.14% | -8.07% | |
| 26 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 0.80% | — | — | |
| 27 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.80% | -0.01% | -4.07% | |
| 28 | MU | Micron Technology Inc | Stock-Tech | 0.76% | -0.14% | -8.63% | |
| 29 | VTV | Vanguard Value ETF | ETF-Other | 0.76% | +0.01% | +1.09% | |
| 30 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.75% | -0.05% | -6.96% | |
| 31 | DELL | Dell Technologies -c | Stock-Tech | 0.74% | +0.10% | -9.11% | |
| 32 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.69% | +0.18% | +3.63% | |
| 33 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.68% | -0.04% | -3.25% | |
| 34 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.68% | +0.01% | -3.61% | |
| 35 | SCHD | Schwab US Dvd Equity ETF | ETF-Other | 0.65% | +0.36% | +114.89% | |
| 36 | PSX | Phillips 66 | Stock-Energy | 0.61% | +0.19% | -5.55% | |
| 37 | TT | Trane Technologies plc | Stock-Industrials | 0.59% | -0.06% | -1.17% | |
| 38 | GLW | Corning Inc | Stock-Tech | 0.59% | -0.49% | -9.36% | |
| 39 | WMT | Walmart Inc | Stock-Consumer Staples | 0.59% | -0.08% | -4.57% | |
| 40 | NFLX | Netflix Inc | Stock-Comm Services | 0.53% | -0.02% | -0.60% | |
| 41 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 0.52% | +0.03% | -0.27% | |
| 42 | AMP | Ameriprise Financial Inc | Stock-Financials | 0.51% | +0.03% | -1.00% | |
| 43 | KLAC | Kla CORP | Stock-Tech | 0.51% | -0.36% | -10.15% | |
| 44 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.51% | -0.04% | -5.21% | |
| 45 | AXP | American Express Co | Stock-Financials | 0.50% | -0.05% | -0.29% | |
| 46 | SO | Southern Co/the | Stock-Utilities | 0.50% | -0.08% | -2.67% | |
| 47 | PANW | Palo Alto Networks Inc | Stock-Tech | 0.49% | +0.07% | -0.16% | |
| 48 | VO | Vanguard Mid-cap ETF | ETF-Other | 0.48% | -0.01% | +0.76% | |
| 49 | SHEL | Shell Plc-adr | Stock-Energy | 0.46% | +0.08% | -0.54% | |
| 50 | BX | Blackstone Inc | Stock-Financials | 0.45% | -0.04% | -2.99% |
1–50 of 200
Portfolio Performance
Performance for Q4 2026
+2.5%
Performance Last 4 Quarters
+17.2%
- Stdev
- +10.3%
- Beta
- +0.84
- Alpha
- +1.3%
- Max Drawdown
- -7.3%
- Annualized Perf
- +16.8%
- Batting Avg vs S&P
- +41.4%
- Sortino
- +3.2
- Stutzer
- +0.46
- Treynor
- +0.19
- Sterling
- +1.05
- Calmar
- +2.31
- Information Ratio
- -0.41
- Tracking Error
- +3.7%
- Stdev Down
- +5%
- Winning Months %
- +72.4%
- Losing Months %
- +27.6%
- Best 12 Months
- +30.4%
- Worst 12 Months
- +9.9%
- Efficiency Ratio
- +0.62
- Sharpe
- +1.58
- Stdev Sectors
- +11.1%
- Skewness
- -0.02
- Kurtosis
- +0.38
- Upside Potential
- +4.61
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Hilltop National Bank's most significant position changes for 2026-09-30: Sold out: Exxon Mobil CORP (XOM); Sold out: Oneok Inc (OKE); New buy: Equinix Inc (EQIX); New buy: ; New buy: Moderna Inc (MRNA).
Showing top 200 changes by size (of 847 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | +2.1% | +0.96% | Add |
| 2 | AAPL | Apple Inc | +0.5% | +1.61% | Add |
| 3 | NVDA | Nvidia CORP | +0.4% | +0.64% | Add |
| 4 | IAU | Ishares Gold Trust | +0.4% | +28.76% | Add |
| 5 | SCHD | Schwab US Dvd Equity ETF | +0.4% | +114.89% | Add |
| 6 | MSI | Motorola Solutions Inc | +0.3% | +11385.19% | Add |
| 7 | INFL | Horizon Kinetics Infl Benef | +0.3% | +7.43% | Add |
| 8 | EFA | Ishares Msci Eafe ETF | +0.2% | +4.64% | Add |
| 9 | ANET | Arista Networks Inc | +0.2% | -0.89% | Trim |
| 10 | SBUX | Starbucks CORP | +0.2% | +1154.29% | Add |
| 11 | EQIX | Equinix Inc | +0.2% | NEW | New buy |
| 12 | PSX | Phillips 66 | +0.2% | -5.55% | Trim |
| 13 | META | Meta Platforms Inc-class A | +0.2% | +3.63% | Add |
| 14 | ✓ | +0.2% | NEW | New buy | |
| 15 | MRNA | Moderna Inc | +0.2% | NEW | New buy |
| 16 | ✓ | +0.2% | NEW | New buy | |
| 17 | VWO | Vanguard Ftse Emerging Marke | +0.2% | +10.60% | Add |
| 18 | ✓ | +0.1% | NEW | New buy | |
| 19 | DELL | Dell Technologies -c | +0.1% | -9.11% | Trim |
| 20 | NVS | Novartis Ag-sponsored Adr | +0.1% | +159.23% | Add |
| 21 | VOO | Vanguard S&p 500 ETF | +0.1% | — | Unchanged |
| 22 | SHEL | Shell Plc-adr | +0.1% | -0.54% | Trim |
| 23 | CRWD | Crowdstrike Holdings Inc - A | +0.1% | +326.07% | Add |
| 24 | MRK | Merck & Co. Inc. | +0.1% | +9.46% | Add |
| 25 | APD | Air Products & Chemicals Inc | +0.1% | +1053.64% | Add |
| 26 | PANW | Palo Alto Networks Inc | +0.1% | -0.16% | Trim |
| 27 | NEM | Newmont CORP | +0.1% | +0.47% | Add |
| 28 | IBIT | Ishares Bitcoin Trust ETF | +0.1% | — | Unchanged |
| 29 | BMY | Bristol-myers Squibb Co | +0.1% | +57.97% | Add |
| 30 | BNY | Bank Of New York Mellon CORP | +0.1% | +867.59% | Add |
| 31 | MA | Mastercard Inc - A | +0.1% | +4.85% | Add |
| 32 | UL | Unilever Plc-sponsored Adr | +0.1% | +48.83% | Add |
| 33 | IVW | Ishares S&p 500 Growth ETF | +0.1% | +1.27% | Add |
| 34 | DVN | Devon Energy CORP | 0% | +22.33% | Add |
| 35 | HPE | Hewlett Packard Enterprise | 0% | -4.24% | Trim |
| 36 | RL | Ralph Lauren CORP | 0% | NEW | New buy |
| 37 | CVX | Chevron CORP | 0% | -9.49% | Trim |
| 38 | AMGN | Amgen Inc | 0% | -0.49% | Trim |
| 39 | OXY | Occidental Petroleum CORP | 0% | +4.05% | Add |
| 40 | ABBV | Abbvie Inc | 0% | +7.62% | Add |
| 41 | DHR | Danaher CORP | 0% | +26.98% | Add |
| 42 | TMO | Thermo Fisher Scientific Inc | 0% | -3.18% | Trim |
| 43 | MCK | Mckesson CORP | 0% | — | Unchanged |
| 44 | AMP | Ameriprise Financial Inc | 0% | -1.00% | Trim |
| 45 | COP | Conocophillips | 0% | -9.22% | Trim |
| 46 | DGX | Quest Diagnostics Inc | 0% | -1.79% | Trim |
| 47 | PLTR | Palantir Technologies Inc-a | 0% | +41.05% | Add |
| 48 | RTX | Rtx CORP | 0% | +24.00% | Add |
| 49 | VLO | Valero Energy CORP | 0% | -8.33% | Trim |
| 50 | V | Visa Inc-class A Shares | 0% | +3.76% | Add |
1–50 of 200
Filing History
FAQ
What is Hilltop National Bank and what type of investor is it?
Hilltop National Bank is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-09-30), the firm manages a tracked equity portfolio valued at approximately $464.9M, spread across 1053 disclosed positions.
What are Hilltop National Bank's largest equity positions?
Based on the latest 13F filing, Hilltop National Bank's top holdings by market value are:
1. Microsoft CORP (MSFT) — $33.9M (7.3%)
2. Ishares Msci Eafe ETF (EFA) — $20.2M (4.3%)
3. Vanguard S&p 500 ETF (VOO) — $15.9M (3.4%)
4. Horizon Kinetics Infl Benef (INFL) — $15.1M (3.3%)
5. Nvidia CORP (NVDA) — $14.9M (3.2%)
What changes did Hilltop National Bank make in its most recent portfolio filing?
In the latest reported quarter, Hilltop National Bank made 187 notable position adjustments: 15 new positions were initiated, 47 existing holdings were added to, 109 positions were partially reduced, and 16 were completely exited. The largest of these moves: Sold out: Exxon Mobil CORP (XOM); Sold out: Oneok Inc (OKE); New buy: Equinix Inc (EQIX); New buy: ; New buy: Moderna Inc (MRNA)
What sectors does Hilltop National Bank focus on?
Hilltop National Bank is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 42.8%
• Health Care: 10.6%
• Financials: 10.5%
• Industrials: 8.7%
• Energy: 5.8%
• Consumer Discretionary: 5.6%
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Investment Profile
Hilltop National Bank returned an annualized 16.8% over the trailing 29 months — outperforming the S&P 500 by 1.3 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.84 (less volatile than the market) and a 41% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 42.8% of the portfolio concentrated in Information Technology.
It has added to its MSFT position over the past two quarters (+$9.7M, now $33.9M), while trimming LHX over the same stretch (-$1.2M, still holding $9.5K).
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Developer Access
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