Mark A. Hillman - Hillman Value Fund 13F Activity & Position Changes (Q1 2022)

As of Mar 31, 2022, the Hillman Value Fund portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 16, 2022. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2022, the filing reported:

New Buys - Adobe Inc., ASML, BlackRock, Equifax, Inc., T. Rowe Price Group, Inc.

Increases - Amazon.com, Inc., Air Products and Chemicals, Inc, Boeing Company (The), Becton, Dickinson and Company, Biogen Inc., and 29 more

Reductions - The Bank of New York Mellon Cor, CVS Health Corporation, Enterprise Products Partners L., Plains All American Pipeline, L, RTX Corporation, and 1 more

Complete Exits - iShares MSCI Emerging Index Fun, General Dynamics Corporation, iShares Russell 1000 Value ETF, iShares Russell 1000 Growth ETF, iShares Russell 2000 Value ETF, and 6 more

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2022	ADBE Adobe Inc.	Adobe Inc.	Buy - Position Entry	+16,179	-	$7.37K	16,179
Q1 2022	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+50	+1.7%	$9.89K	3,033
Q1 2022	APD Air Products and Chemicals, Inc	Air Products and Chemicals, Inc	Buy	+346	+17.8%	$572.00	2,289
Q1 2022	ASML ASML	ASML	Buy - Position Entry	+14,591	-	$9.74K	14,591
Q1 2022	BA Boeing Company (The)	Boeing Company (The)	Buy	+2,363	+5.3%	$8.92K	46,598
Q1 2022	BDX Becton, Dickinson and Company	Becton, Dickinson and Company	Buy	+237	+0.9%	$7.13K	26,796
Q1 2022	BIIB Biogen Inc.	Biogen Inc.	Buy	+15,488	+57.0%	$8.99K	42,679
Q1 2022	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Sell	-21,857	-15.3%	$6.03K	121,414
Q1 2022	BLK BlackRock	BlackRock	Buy - Position Entry	+763	-	$583.00	763
Q1 2022	BMY Bristol-Myers Squibb Company	Bristol-Myers Squibb Company	Buy	+1,794	+1.3%	$9.91K	135,731
Q1 2022	BUD Anheuser-Busch Inbev SA Sponsor	Anheuser-Busch Inbev SA Sponsor	Buy	+10,350	+7.1%	$9.34K	155,584
Q1 2022	CAG ConAgra Brands, Inc.	ConAgra Brands, Inc.	Buy	+98,034	+79.3%	$7.44K	221,717
Q1 2022	CMCSA Comcast Corporation	Comcast Corporation	Buy	+1,741	+19.2%	$506.00	10,800
Q1 2022	CMP Compass Minerals Intl Inc	Compass Minerals Intl Inc	Buy	+12,830	+9.2%	$9.58K	152,587
Q1 2022	CRM Salesforce, Inc.	Salesforce, Inc.	Buy	+31,866	+1635.0%	$7.18K	33,815
Q1 2022	CVS CVS Health Corporation	CVS Health Corporation	Sell	-11,615	-10.6%	$9.87K	97,483
Q1 2022	DD DuPont de Nemours, Inc.	DuPont de Nemours, Inc.	Buy	+1,450	+1.1%	$9.41K	127,870
Q1 2022	EEM iShares MSCI Emerging Index Fun	iShares MSCI Emerging Index Fun	Sell - Position Exit	-250	-100.0%	$0.00	-
Q1 2022	EFA iShares MSCI EAFE ETF	iShares MSCI EAFE ETF	Buy	+2,802	+15.3%	$1.55K	21,060
Q1 2022	EFX Equifax, Inc.	Equifax, Inc.	Buy - Position Entry	+12,884	-	$3.06K	12,884
Q1 2022	EMR Emerson Electric Company	Emerson Electric Company	Buy	+628	+0.9%	$7.06K	72,011
Q1 2022	EPD Enterprise Products Partners L.	Enterprise Products Partners L.	Sell	-40,202	-9.6%	$9.74K	377,588
Q1 2022	GD General Dynamics Corporation	General Dynamics Corporation	Sell - Position Exit	-33,723	-100.0%	$0.00	-
Q1 2022	GE GE Aerospace	GE Aerospace	Buy	+854	+17.3%	$530.00	5,790
Q1 2022	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+3	+3.2%	$274.00	98
Q1 2022	GOOGL Alphabet Inc.	Alphabet Inc.	Buy	+24	+0.8%	$8.41K	3,024
Q1 2022	INTC Intel Corporation	Intel Corporation	Buy	+11,534	+6.9%	$8.80K	177,512
Q1 2022	IWD iShares Russell 1000 Value ETF	iShares Russell 1000 Value ETF	Sell - Position Exit	-154	-100.0%	$0.00	-
Q1 2022	IWF iShares Russell 1000 Growth ETF	iShares Russell 1000 Growth ETF	Sell - Position Exit	-53	-100.0%	$0.00	-
Q1 2022	IWN iShares Russell 2000 Value ETF	iShares Russell 2000 Value ETF	Sell - Position Exit	-17	-100.0%	$0.00	-

Page 1 of 2