SEC Filing Summary: Hilltop Holdings Inc. (Form 13F)
Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by Hilltop Holdings Inc. for the reporting period ending December 31, 2016. As a registered investment adviser, Hilltop Holdings is required to disclose its holdings of equity securities. The filing details the specific stocks, shares, and voting authority held by the firm at the end of the quarter.
Key Financial Metrics and Portfolio Composition
The filing provides a granular list of equity positions rather than aggregate financial statements for Hilltop Holdings itself. Key portfolio characteristics include:
- Asset Class: The portfolio consists primarily of common stocks, exchange-traded funds (ETFs), and preferred securities.
- Top Holdings by Share Count: Significant positions include Mitsubishi UFJ Financial Group (503,200 shares), Lattice Semiconductor (300,700 shares), Pan American Silver (249,100 shares), and Twitter (78,630 shares).
- Top Holdings by Value (Approximate): Based on the "Value" column (in thousands), major positions include AT&T ($2,959k), AbbVie ($1,969k), Altria Group ($1,975k), and Exxon Mobil ($3,425k).
- Voting Authority: The firm exercises "Sole" or "Shared" voting authority for the majority of listed positions, with some "None" authority noted for specific holdings.
Material Changes and Portfolio Activity
The filing lists individual security positions as of the period end. It does not provide a comparative table showing net purchases or sales versus the prior quarter (September 30, 2016). Therefore, specific material changes in position size cannot be calculated from this text alone. The presence of multiple entries for the same issuer (e.g., Apple, Microsoft, Berkshire Hathaway) indicates holdings across different accounts or classes of stock.
Guidance, Outlook, and Risks
Guidance and Outlook: This document is a regulatory disclosure of past holdings and does not contain management commentary, forward-looking guidance, or strategic outlook for Hilltop Holdings or its clients.
Risks and Contingencies: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy. No specific risk factors or contingencies regarding the firm's operations are disclosed in this form.
Important Facts for Investor Verification
- Self-Holding: Hilltop Holdings Inc. holds its own stock (10,389 shares total across two entries) as of the reporting date.
- Concentration: The portfolio shows significant exposure to large-cap U.S. equities (e.g., Apple, Microsoft, JPMorgan Chase) and international equities (e.g., Mitsubishi UFJ, Vodafone, GlaxoSmithKline).
- ETF Usage: The firm utilizes a wide array of ETFs for diversification, including iShares, Vanguard, and PowerShares products covering bonds, international markets, and specific sectors.
- Data Limitation: This filing does not disclose the firm's total assets under management (AUM), revenue, or profitability; it only lists the specific securities held.