{ "crd_number": 110760, "slug": "hilltop-securities-asset-management-llc-dallas-tx-110760", "primary_business_name": "HILLTOP SECURITIES ASSET MANAGEMENT, LLC", "legal_name": "HILLTOP SECURITIES ASSET MANAGEMENT, LLC", "dbas": [], "city": "Dallas", "state": "TX", "country": "United States", "cbsa_code": "19100", "metro": { "cbsa_code": "19100", "common_name": "Dallas", "msa_name": "Dallas-Fort Worth-Arlington, TX", "path": "/advisors/tx/dallas" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "1991-12-17", "years_registered": 34, "period": "2026-10-01", "filing_date": "2026-03-26", "carried_forward": false, "raum_total": 37701591625.0, "raum_discretionary": 0.0, "raum_non_discretionary": 37701591625.0, "raum_band": "over_5b", "raum_band_label": "Over $5 billion", "total_employees": 31, "advisory_employees": 13, "client_count_bucket": null, "clients_by_type": { "state_municipal": { "raum": 37701591625.0, "count": 60 } }, "compensation_types": [ "fixed", "hourly", "other", "percentage_of_aum" ], "advisory_activities": [ "educational_seminars", "other", "portfolio_management_businesses_institutional" ], "wrap_fee_participant": false, "disclosure_yes_count": 3, "states_registered": [ "AZ", "CA", "CO", "FL", "GA", "IN", "KY", "LA", "MA", "ME", "MI", "MN", "MS", "NC", "NJ", "NM", "NY", "OH", "OK", "OR", "RI", "TN", "TX", "VA", "WA" ], "websites": [ "https://hilltopsecurities.com/asset-management" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/110760", "disclosure_items": [ { "item": "11.C(2)", "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?" }, { "item": "11.C(4)", "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?" }, { "item": "11.C(5)", "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?" } ], "city_as_filed": "DALLAS", "url": "https://advisorcensus.com/firm/hilltop-securities-asset-management-llc-dallas-tx-110760", "display_name": "Hilltop Securities Asset Management, LLC", "summary": "Hilltop Securities Asset Management, LLC is an SEC-registered investment advisory firm in Dallas, TX, registered since 1991, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 26, 2026.", "citation": "AdvisorCensus. Hilltop Securities Asset Management, LLC (CRD 110760): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management", "Hourly charges", "Fixed fees (other than subscription fees)", "Other" ], "advisory_activity_labels": [ "Portfolio management for businesses (other than small businesses) or institutional clients", "Educational seminars/workshops", "Other" ], "quick_answers": [ { "q": "How is Hilltop Securities Asset Management, LLC compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Hilltop Securities Asset Management, LLC reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); other. The amounts are in Item 5 of its Form ADV Part 2A brochure." }, { "q": "Where is Hilltop Securities Asset Management, LLC located?", "a": "Hilltop Securities Asset Management, LLC's principal office is in Dallas, TX, according to its Form ADV; the April 2026 filing also lists 2 other offices (Schedule D, Section 1.F)." }, { "q": "Is Hilltop Securities Asset Management, LLC registered with the SEC or a state?", "a": "Hilltop Securities Asset Management, LLC is an SEC-registered investment advisory firm, registered since 1991. Status as filed: Approved. CRD 110760." }, { "q": "How much does Hilltop Securities Asset Management, LLC manage?", "a": "Hilltop Securities Asset Management, LLC reports $37,701,591,625 in regulatory assets under management in its Form ADV filing dated March 26, 2026 (0% discretionary)." }, { "q": "How have Hilltop Securities Asset Management, LLC's assets and staff changed since 2021?", "a": "In the Form ADV data for Hilltop Securities Asset Management, LLC: Regulatory assets under management: $15,600,000,000 in the October 2021 data and $37,701,591,625 in the October 2026 data, up 142%. Total employees: 26 in October 2021 and 31 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Hilltop Securities Asset Management, LLC serve?", "a": "By number of clients on Form ADV Item 5.D: state or municipal government entities (including government pension plans) (60)." }, { "q": "Does Hilltop Securities Asset Management, LLC report any disciplinary disclosures?", "a": "Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/110760" }, { "q": "What changed in Hilltop Securities Asset Management, LLC's recent Form ADV filings?", "a": "In the April 2026 filing data: Its Item 11 disclosure answers changed. Regulatory assets under management went from $31,688,490,690 to $37,701,591,625 (+19%)." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 15600000000.0, "total_employees": 26, "filing_date": "2021-07-02" }, { "period": "2022-10-01", "regulatory_assets_under_management": 18200000000.0, "total_employees": 29, "filing_date": "2022-09-22" }, { "period": "2023-10-01", "regulatory_assets_under_management": 21409909710.0, "total_employees": 35, "filing_date": "2023-08-25" }, { "period": "2024-10-01", "regulatory_assets_under_management": 27229315502.0, "total_employees": 29, "filing_date": "2024-08-28" }, { "period": "2025-10-01", "regulatory_assets_under_management": 31688490690.0, "total_employees": 31, "filing_date": "2025-03-24" }, { "period": "2026-10-01", "regulatory_assets_under_management": 37701591625.0, "total_employees": 31, "filing_date": "2026-03-26" } ], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Its Item 11 disclosure answers changed.", "Regulatory assets under management went from $31,688,490,690 to $37,701,591,625 (+19%)." ] } ], "fees_from_brochure": null, "custodians": [], "custodians_note": null, "markdown_url": "https://advisorcensus.com/firm/hilltop-securities-asset-management-llc-dallas-tx-110760.md", "clients": [ { "type": "state_municipal", "label": "State or municipal government entities (including government pension plans)", "count": 60, "fewer_than_5": false, "raum": 37701591625.0 } ], "disclosure_line": "Reports 3 disclosure items on Form ADV Item 11.", "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/110760", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }