SEC Filing Summary: Hilltop Holdings Inc. (Form 13F)
Business Context and Reporting Period
Company: Hilltop Holdings Inc.
Filing Type: Form 13F Information Table (Quarterly Report of Holdings)
Reporting Period: Ended December 31, 2023
Context: This filing discloses the equity securities held by Hilltop Holdings Inc. as a registered investment adviser. It details the specific stocks, ETFs, and other equity instruments in the portfolio, along with voting authority and investment discretion.
Key Financial Metrics and Portfolio Composition
Note: Form 13F filings report holdings by value and share count but do not disclose the company's own revenue, profit, cash flow, or debt levels.
- Portfolio Scope: The filing lists hundreds of individual equity positions, including common stocks, preferred stocks, and Exchange Traded Funds (ETFs).
- Top Holdings by Value (Selected Examples):
- Apple Inc.: 158,598 shares (Combined Sole/Shared) valued at approx. $30.5M.
- Alphabet Inc. (Class A & C): Significant holdings across both classes, totaling over 92,000 shares.
- Amazon.com Inc.: 65,740 shares valued at approx. $10.3M.
- Microsoft Corp.: 38,130 shares valued at approx. $14.3M.
- Meta Platforms Inc.: 8,287 shares valued at approx. $2.8M.
- ETF Exposure: Significant allocation to broad market and sector ETFs, including iShares (e.g., Core S&P 500, MSCI EAFE), Vanguard (e.g., Total Stock Market, S&P 500), and SPDR Trusts.
- Voting Authority: The filing distinguishes between "Sole," "Shared," and "None" voting authority for each position, indicating the extent of Hilltop's control over the securities.
Material Changes
Comparison to Prior Period: The provided text contains only the snapshot of holdings as of December 31, 2023. It does not include the prior quarter's data (September 30, 2023) within this specific document. Therefore, specific material changes (buys/sells) cannot be calculated from this text alone.
Guidance, Outlook, and Risks
Management Commentary: Form 13F is a regulatory disclosure of holdings and does not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy or completeness. No specific operational risks or contingencies are detailed in this format.
Investor Verification Checklist
- Portfolio Concentration: Verify the percentage of the total portfolio represented by the top 10 holdings (e.g., Apple, Alphabet, Amazon) to assess concentration risk.
- ETF vs. Stock Ratio: Determine the split between direct equity ownership and passive ETF exposure to understand the active management style.
- Voting Rights: Review the "Voting Authority" columns to understand how much influence Hilltop exerts over the companies in which it invests.
- Missing Financials: Note that this filing does not provide Hilltop's own financial health (liquidity, debt, earnings); investors must refer to the company's 10-K or 10-Q for that data.
- Discretionary Authority: Confirm that the "Investment Discretion" column indicates "Sole" or "Shared" to verify the manager's control over the assets.