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: Quarter ended March 31, 2021
Context: This filing discloses the equity securities held by Hilltop Holdings Inc. at the end of the first quarter of 2021. As a Form 13F, this document details investment positions rather than the company's own operating financial results.
Key Financial Metrics and Portfolio Composition
Portfolio Overview: The filing lists a diversified portfolio of common stocks, exchange-traded funds (ETFs), and preferred securities. The data is presented in two categories: "Sole Discretion" (managed solely by Hilltop) and "Shared Discretion" (managed jointly with other managers).
Top Holdings by Value (Sole Discretion):
- Apple Inc.: $20,539,000 (168,142 shares)
- Microsoft Corp: $12,218,000 (51,823 shares)
- Amazon.com Inc: $10,610,000 (3,429 shares)
- Alphabet Inc (Class A): $5,829,000 (2,826 shares)
- AbbVie Inc: $2,183,000 (20,175 shares)
Top Holdings by Value (Shared Discretion):
- Apple Inc.: $7,275,000 (59,558 shares)
- Alphabet Inc (Class A): $2,547,000 (1,235 shares)
- Amazon.com Inc: $2,302,000 (744 shares)
- AbbVie Inc: $1,497,000 (13,830 shares)
ETF Exposure: Significant allocations to sector-specific and thematic ETFs, including Global X Uranium ($8,122,000), Invesco S&P 500 High Beta ($7,213,000), and SPDR Portfolio Short Term Treasury ($12,570,000).
Financials Note: This filing does not provide Hilltop Holdings Inc.'s own revenue, profit, cash flow, or debt metrics. It only reports the value of securities held.
Material Changes and Voting Authority
Voting Authority: The filing distinguishes between shares with sole voting authority, shared voting authority, and none. For example, in the Apple Inc. position, Hilltop held sole voting authority over 168,142 shares (Sole Discretion) and shared authority over 58,955 shares (Shared Discretion).
Derivatives: The table includes columns for Put and Call options. Most positions show "0" for puts and calls, indicating a primarily long-only equity strategy for the majority of holdings. Some positions, such as Altria Group and American Electric Power, show small call option positions.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings do not contain management commentary, forward-looking guidance, or strategic outlooks. They are strictly regulatory disclosures of holdings.
Risks and Contingencies: No specific risk factors or contingencies are disclosed in this document. The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy.
Key Facts for Investor Verification
- Concentration Risk: Verify the total portfolio value to assess the concentration in top holdings like Apple, Microsoft, and Amazon, which represent a significant portion of the disclosed equity value.
- Discretion Split: Confirm the proportion of assets managed under "Sole Discretion" versus "Shared Discretion" to understand Hilltop's direct control over the portfolio.
- ETF Strategy: Review the specific thematic ETFs (e.g., Uranium, Clean Energy, Gold Miners) to understand the fund's exposure to volatile commodity and sector trends.
- Self-Holding: Note that Hilltop Holdings Inc. holds 10,450 shares of its own stock (HILLTOP HOLDINGS INC COM) under shared discretion, valued at $357,000.
- Missing Data: Investors seeking Hilltop's own financial health (liquidity, debt, earnings) must refer to the company's 10-Q or 10-K filings, as this document contains none of that data.