Hilltop National Bank

CIK 0002021658 · Q1 2026

13F Equity AUM

$420.5M

+1.7% QoQ

Positions

789

+15 QoQ

AUM Rank

#4,806

Top 39%

Skill Alpha (FF)

—

Building track record (6q)

Quarters Tracked

~2 years

Portfolio Concentration

Top 5: 19.4%Top 10: 29.1%Top 20: 41.3%

MSFT5.8%

EFA4.2%

INFL3.5%

VOO3.2%

NVDA2.7%

AAPL2.5%

IVV2.2%

RSP1.7%

VOE1.7%

IAU*1.6%

Others (779)70.9%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services40.6%

Technology21.0%

Industrials7.0%

Healthcare6.5%

Energy5.9%

Consumer Defensive4.1%

Consumer Cyclical3.8%

Communication Services3.4%

Other7.8%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 789Median: 0.02%Avg: 0.13%

0–0.5%

741(39.9%)

0.5–1%

30(20.6%)

1–3%

14(22.8%)

3–5%

3(10.9%)

5%+

1(5.8%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 785Unique: 4vs 20 funds

10.7%Low

789

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

14.9%

BANK OF AMERICA CORP /DE/

16%

15%

17.4%

22.9%

17%

VANGUARD CAPITAL MANAGEMENT LLC

16.6%

GEODE CAPITAL MANAGEMENT, LLC

16.2%

VANGUARD PORTFOLIO MANAGEMENT LLC

18.4%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New61Increased238Decreased180Exited45

New Positions

BUD0.2%

+14K

IBIT0.2%

+22K

UL0.1%

+7K

MCHP0.1%

+4K

TTE0.1%

+2K

CASH0.0%

+1K

FITB0.0%

+3K

SOLS0.0%

+2K

CB0.0%

+338

Q0.0%

+933

Increased

F0.2%

+70K(+1012%)

INFL3.5%

+31K(+13%)

EFA4.2%

+19K(+12%)

RSP1.7%

+17K(+80%)

BAC0.3%

+13K(+102%)

BAC0.3%

+6K(+38%)

BX0.5%

+5K(+37%)

HLT0.3%

+4K(+11921%)

LHX0.3%

+3K(+488%)

MHD0.0%

+3K(+73%)

Decreased

FIS0.0%

-17,328(-88%)

CCC0.0%

-8,292(-53%)

J0.0%

-8,088(-94%)

DKS0.0%

-6,280(-95%)

PG0.3%

-6,187(-38%)

CWAN0.0%

-3,899(-70%)

LIE0.3%

-3,662(-18%)

SNY0.1%

-3,407(-26%)

VWO1.4%

-3,186(-3%)

PR0.0%

-3,145(-45%)

Exited

-12,184

-6,627

-186

-1,118

-326

-96

-1,291

-374

-2,315

-194

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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