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 Institutional Investment Managers)
Reporting Period: First Quarter ended March 31, 2025
Context: This filing discloses the equity securities held by Hilltop Holdings Inc. at the end of the quarter. As a Form 13F, it details long positions in stocks and exchange-traded funds (ETFs) but does not report short positions, derivatives (unless they are equity options), or fixed income securities.
Key Financial Metrics and Portfolio Composition
Portfolio Overview: The filing lists a diversified portfolio of common stocks and ETFs. The data provides the number of shares held and the aggregate market value for each position, categorized by voting authority (Sole, Shared, or None).
Top Equity Holdings (by Share Count):
- Energy Transfer LP: 283,451 shares
- Apple Inc.: 237,878 shares
- Microsoft Corp: 111,689 shares
- Amazon.com Inc: 110,964 shares
- Verizon Communications Inc: 113,981 shares
- NextEra Energy Inc: 104,420 shares
- Regions Financial Corp: 152,874 shares
- Enterprise Products Partners LP: 173,504 shares
Top ETF Holdings (by Share Count):
- SPDR Portfolio Short Term Treasury ETF: 188,969 shares
- SPDR Gold Trust: 74,233 shares
- VanEck BDC Income ETF: 308,121 shares
- SPDR S&P 500 ETF Trust: 18,823 shares
- iShares MSCI EAFE ETF: 52,282 shares
Liquidity and Debt: The filing text does not provide data on Hilltop Holdings' own corporate debt, cash flow, or liquidity ratios. It only reflects the liquid equity assets held in the portfolio.
Material Changes and Portfolio Activity
Comparison to Prior Period: This filing represents a snapshot of holdings as of March 31, 2025. The provided text does not contain the prior quarter's data (December 31, 2024) within the same document, preventing a direct calculation of net purchases or sales for this summary.
Notable Positions: The portfolio includes significant exposure to:
- Technology: Large positions in Microsoft, Apple, Amazon, NVIDIA, and Meta Platforms.
- Energy & Midstream: Substantial holdings in Energy Transfer LP, Enterprise Products Partners, and Chevron.
- Financials: Significant stakes in JPMorgan Chase, Bank of America, and Regions Financial.
- Fixed Income/Income ETFs: Heavy allocation to bond ETFs (e.g., iShares TIPS, SPDR Short Term Treasury) and Business Development Companies (VanEck BDC Income).
Guidance, Risks, and Contingencies
Management Commentary: Form 13F filings are statutory disclosures and do not contain management commentary, earnings 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. The primary risk disclosed implicitly is market risk associated with the listed equity and ETF positions. There are no specific legal contingencies or unusual items detailed in this specific data table.
Key Facts for Investor Verification
- Concentration Risk: Verify the total portfolio value to determine if the top 10 holdings (e.g., Apple, Microsoft, Energy Transfer) represent a disproportionate percentage of the firm's assets under management.
- ETF Exposure: Confirm the specific underlying assets of the numerous ETFs held (e.g., VanEck BDC Income, SPDR Short Term Treasury) to understand the true sector and duration exposure.
- Voting Authority: Note that many positions are held with "Sole" voting authority, while others are "Shared," indicating potential co-investment structures or fund-of-fund arrangements.
- Missing Data: Investors should note that this filing does not disclose short positions, options, or fixed income securities (bonds), which may be part of the firm's broader strategy.
- Valuation: The "Value" column represents the aggregate market value at the end of the quarter; verify current market prices to assess unrealized gains or losses since March 31, 2025.