Hills Bank & Trust portfolio

What changed this quarter

291 positions with a change (44 new, 97 added to, 134 trimmed, 16 sold). 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Federated Hermes ETF Trust+97%more sharesIncreased
  3.5% → 6.0%
• J P Morgan Exchange Traded Fund+203%more sharesIncreased
  1.0% → 2.6%
• Invesco Bulletshares 2031 CB ETF−77%fewer sharesReduced
  2.1% → 0.4%
• Invesco Bulletshares 2026 CB ETF−49%fewer sharesReduced
  2.8% → 1.2%
• Vangrd Trgt MAT 2031 CB ETF+1.2 ppof portfolioNew
  — → 1.2%
• Vangrd Trgt MAT 2032 CB ETF+1.1 ppof portfolioNew
  — → 1.1%
• Invesco Bulletshares 2030 CB ETF−60%fewer sharesReduced
  2.1% → 0.7%
• Invesco Bulletshares 2029 CB ETF−57%fewer sharesReduced
  2.2% → 0.8%
• Invesco Bulletshares 2028 CB ETF−50%fewer sharesReduced
  2.4% → 1.1%
• Invesco Bulletshares 2027 CB ETF−48%fewer sharesReduced
  2.5% → 1.2%
• Vangrd Trgt MAT 2027 CB ETF+1.0 ppof portfolioNew
  — → 1.0%
• Vangrd Trgt MAT 2028 CB ETF+1.0 ppof portfolioNew
  — → 1.0%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• STE Str SPDR PT S&P 500 ETFSPYM12.8%
• Vanguard Ftse Developed ETFVEA7.3%
• State Str Spdr S&P 500 ETF TSPY6.6%
• Federated Hermes ETF TrustFTRB6.0%
• American Centy ETF TrAVLC4.3%
• State Street SPDR P S&P 400 Midcap ETFSPMD3.5%
• State Str Spdr S&P Midcap 40MDY3.3%
• Vanguard International Equity Index FVWO3.1%
• J P Morgan Exchange Traded FundJPIB2.6%
• State Street SPDR S&P Global ETFGII2.4%
• NVIDIANVDA1.9%
• AlphabetGOOG1.7%
• AppleAAPL1.5%
• Invesco Bulletshares 2026 CB ETFBSCQ1.2%
• Invesco Bulletshares 2027 CB ETFBSCR1.2%
• Vangrd Trgt MAT 2031 CB ETFVBCE1.2%
• Vangrd Trgt MAT 2032 CB ETFVBCF1.1%
• MicrosoftMSFT1.1%
• Invesco Bulletshares 2028 CB ETFBSCS1.1%
• Flexshares TrGUNR1.1%
• Vanguard Total Bond Market ETFBND1.0%
• Vangrd Trgt MAT 2027 CB ETFVBCA1.0%
• Vangrd Trgt MAT 2028 CB ETFVBCB1.0%
• Vanguard Target Maturity 2029 Corporate Bond ETFVBCC1.0%
• Vangrd Trgt MAT 2030 CB ETFVBCD1.0%
• Invesco Bulletshares 2029 CB ETFBSCT0.8%
• Invesco Bulletshares 2030 CB ETFBSCU0.7%
• JPMorgan ChaseJPM0.7%
• iShares Msci Eafe ETFEFA0.7%
• FastenalFAST0.7%
• Amazon.comAMZN0.7%
• Invesco Bulletshares 2029 MB ETFBSMT0.7%
• Procter & GamblePG0.6%
• State Street SPDR P S&P 500 Value ETFSPYV0.6%
• iShares Ibonds DEC 2027 Term ETFIBMP0.5%
• Palo Alto NetworksPANW0.5%
• KLAKLAC0.5%
• iShares Ibonds DEC 2028 Muni ETFIBMQ0.5%
• Dimensional ETF TrustDFIC0.5%
• Home DepotHD0.4%
• Invesco Bulletshares 2031 CB ETFBSCV0.4%
• iShares Ibonds DEC 2026 Term ETFIBMO0.4%
• Invesco Bulletshares 2030 MB ETFBSMU0.4%
• Johnson & JohnsonJNJ0.4%
• iShares Ibonds DEC 2031 ETFIBDW0.4%
• Vanguard S&P 500 ETFVOO0.3%
• MastercardMA0.3%
• Invesco Bulletshares 2031 MB ETFBSMV0.3%
• Costco WholesaleCOST0.3%
• iShares Core S&P Small-cap E ETFIJR0.3%
• Berkshire HathawayBRK/A · BRK/B0.3%
• Meta PlatformsMETA0.3%
• Illinois Tool WorksITW0.3%
• Exxon MobilXOM0.3%
• Cisco SystemsCSCO0.2%
• Advanced Micro DevicesAMD0.2%
• Intercontinental ExchangeICE0.2%
• Alliant EnergyLNT0.2%
• TJXTJX0.2%
• VisaV0.2%
• Vanguard Index FundsVTI0.2%
• McDONALD’SMCD0.2%
• IntelINTC0.2%
• OracleORCL0.2%
• Thermo Fisher ScientificTMO0.2%
• Eli LillyLLY0.2%
• DeereDE0.2%
• CVS HealthCVS0.2%
• State Street SPDR DOW Jones ETFRWO0.2%
• Invesco Bulletshares 2028 MB ETFBSMS0.2%
• Invesco Bulletshares 2027 MB ETFBSMR0.2%
• State Street Materials Select Sector ETFXLB0.2%
• PepsicoPEP0.2%
• ChevronCVX0.2%
• State Street Technology Select Sector ETFXLK0.2%
• Invesco Bulletshares 2032 CB ETFBSCW0.2%
• Invesco Exchange Traded Fund TRSPT0.2%
• Invesco Bulletshares 2032 MB ETFBSMW0.2%
• iShares Core S&P Midcap ETFIJH0.1%
• Invesco Bulletshares 2033 MB ETFBSSX0.1%
• W.W. GraingerGWW0.1%
• iShares Ibonds DEC 2030 ETFIBDV0.1%
• Norfolk SouthernNSC0.1%
• Invesco Bulletshares 2034 MB ETFBSMY0.1%
• DanaherDHR0.1%
• Invesco Bulletshares 2026 MB ETFBSMQ0.1%
• State Street SPDR S&P Global ETFGNR0.1%
• Coca-ColaKO0.1%
• US Bancorp \de\USB0.1%
• Perspective TherapeuticsCATX0.1%
• iShares Ibonds DEC 2031 Muni ETFIBMT0.1%
• Analog DevicesADI0.1%
• Vanguard Extended Market ETFVXF0.1%
• State Street Real Estate Select Sector ETFXLRE0.1%
• iShares Ibonds DEC 2029 Term ETFIBDU0.1%
• Invesco Exchange Traded Fund TRSPN0.1%
• Abbott LaboratoriesABT0.1%
• Vanguard Total International Stock ETFVXUS0.1%
• CaterpillarCAT0.1%