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Institutional Investment Manager
Hills Bank & Trust Co
Hills Bank & Trust Co (CIK: 0001309148), located at 590 West Forevergreen Road, North Liberty, IA. Institutional holdings reported to the SEC.

Institutional Holdings (2016Q3)
Portfolio Summary: 126 holdings with a total value of $276,946,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 NOVARTIS A G 16,660 1,316,000 0.48%
52 BERKSHIRE HATHAWAY INC DEL 6 1,297,000 0.47%
53 DICKS SPORTING GOODS INC 22,499 1,276,000 0.46%
54 ZIMMER BIOMET HLDGS INC 9,730 1,265,000 0.46%
55 PAYPAL HLDGS INC 30,590 1,253,000 0.45%
56 POWERSHARES ETF DYNAMIC BIOTECHNOLOGY & GENOME 28,311 1,188,000 0.43%
57 STATE STR CORP 16,721 1,164,000 0.42%
58 TWENTY FIRST CENTY FOX INC 47,595 1,152,000 0.42%
59 GENERAL ELECTRIC CO 37,535 1,112,000 0.40%
60 CELGENE CORP 10,205 1,066,000 0.38%
61 NUCOR CORP 20,455 1,012,000 0.37%
62 AMERICAN TOWER CORP NEW 8,758 992,000 0.36%
63 EMERSON ELEC CO 18,100 986,000 0.36%
64 C H ROBINSON WORLDWIDE INC 13,917 980,000 0.35%
65 SCHWAB CHARLES CORP 30,851 974,000 0.35%
66 AT&T INC 23,933 972,000 0.35%
67 NXP SEMICONDUCTORS N V 9,425 962,000 0.35%
68 NORFOLK SOUTHERN CORP 9,665 938,000 0.34%
69 RED HAT INC 11,120 899,000 0.32%
70 ALLIANCE DATA SYSTEMS CORP 4,160 892,000 0.32%
71 VERIZON COMMUNICATIONS INC 17,029 885,000 0.32%
72 DANAHER CORP DEL 11,228 881,000 0.32%
73 ALLSTATE CORP 12,600 871,000 0.31%
74 ORACLE CORP 21,118 830,000 0.30%
75 MONDELEZ INTL INC 18,242 801,000 0.29%
76 DUKE ENERGY CORP NEW 9,223 738,000 0.27%
77 PFIZER INC 21,435 726,000 0.26%
78 EBAY INC 21,870 720,000 0.26%
79 ALLIANT ENERGY CORP 18,740 718,000 0.26%
80 SUN LIFE FINL INC 22,000 716,000 0.26%
81 MIDDLEBY CORP 5,511 681,000 0.25%
82 SALESFORCE COM INC 9,430 673,000 0.24%
83 COMCAST CORP NEW 9,959 660,000 0.24%
84 ACTIVISION BLIZZARD INC 12,905 571,000 0.21%
85 MASCO CORP 16,505 566,000 0.20%
86 BARD C R INC 2,480 556,000 0.20%
87 RACKSPACE HOSTING INC 17,072 541,000 0.20%
88 UNION PAC CORP 5,495 536,000 0.19%
89 DEERE & CO 5,906 504,000 0.18%
90 COSTCO WHSL CORP NEW 3,293 503,000 0.18%
91 BAXTER INTL INC 10,489 499,000 0.18%
92 MERCK & CO INC 7,950 496,000 0.18%
93 EATON CORP PLC 7,435 488,000 0.18%
94 AUTOMATIC DATA PROCESSING IN 5,500 485,000 0.18%
95 FORTIVE CORP 9,417 480,000 0.17%
96 COGNIZANT TECHNOLOGY SOLUTIO 9,560 456,000 0.16%
97 SHIRE PLC 2,207 428,000 0.15%
98 EXELON CORP 12,372 412,000 0.15%
99 STERICYCLE INC 5,088 408,000 0.15%
100 HEARTLAND EXPRESS INC COM 20,942 395,000 0.14%
Page 2 of 3

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001309148-16-000028, filed 2016.10.11).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.