Mark A. Hillman - Hillman Value Fund 13F Activity & Position Changes (Q1 2023)

As of Mar 31, 2023, the Hillman Value Fund portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 15, 2023. 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 2023, the filing reported:

New Buys - Stryker Corporation

Increases - Adobe Inc., Amazon.com, Inc., Compass Minerals Intl Inc, Salesforce, Inc., CVS Health Corporation, and 15 more

Reductions - Air Products and Chemicals, Inc, ASML, Boeing Company (The), Becton, Dickinson and Company, Biogen Inc., and 26 more

Complete Exits - SPDR S&P 500

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 2023	ADBE Adobe Inc.	Adobe Inc.	Buy	+241	+1.5%	$6.25M	16,212
Q1 2023	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+19,856	+33.1%	$8.25M	79,829
Q1 2023	APD Air Products and Chemicals, Inc	Air Products and Chemicals, Inc	Sell	-80	-4.5%	$490.84K	1,709
Q1 2023	ASML ASML	ASML	Sell	-72	-0.6%	$8.83M	12,975
Q1 2023	BA Boeing Company (The)	Boeing Company (The)	Sell	-8,384	-17.6%	$8.35M	39,292
Q1 2023	BDX Becton, Dickinson and Company	Becton, Dickinson and Company	Sell	-109	-0.4%	$6.49M	26,226
Q1 2023	BIIB Biogen Inc.	Biogen Inc.	Sell	-540	-1.8%	$8.21M	29,536
Q1 2023	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Sell	-34,270	-22.4%	$5.39M	118,509
Q1 2023	BLK BlackRock, Inc.	BlackRock, Inc.	Sell	-36	-4.4%	$521.91K	780
Q1 2023	BUD Anheuser-Busch Inbev SA Sponsor	Anheuser-Busch Inbev SA Sponsor	Sell	-469	-0.3%	$10.24M	153,492
Q1 2023	CAG ConAgra Brands, Inc.	ConAgra Brands, Inc.	Sell	-309	-0.2%	$5.85M	155,839
Q1 2023	CMCSA Comcast Corporation	Comcast Corporation	Sell	-662	-4.4%	$540.14K	14,248
Q1 2023	CMP Compass Minerals Intl Inc	Compass Minerals Intl Inc	Buy	+45,797	+27.8%	$7.22M	210,609
Q1 2023	CRM Salesforce, Inc.	Salesforce, Inc.	Buy	+469	+1.1%	$8.28M	41,446
Q1 2023	CVS CVS Health Corporation	CVS Health Corporation	Buy	+712	+0.7%	$7.16M	96,347
Q1 2023	DD DuPont de Nemours, Inc.	DuPont de Nemours, Inc.	Sell	-509	-0.4%	$8.31M	115,815
Q1 2023	DIS Walt Disney Company (The)	Walt Disney Company (The)	Sell	-254	-0.4%	$6.56M	65,490
Q1 2023	EFA iShares MSCI EAFE ETF	iShares MSCI EAFE ETF	Buy	+157	+0.7%	$1.70M	23,836
Q1 2023	EFX Equifax, Inc.	Equifax, Inc.	Sell	-162	-1.2%	$2.72M	13,413
Q1 2023	EMR Emerson Electric Company	Emerson Electric Company	Sell	-265	-0.4%	$6.29M	72,155
Q1 2023	EPD Enterprise Products Partners L.	Enterprise Products Partners L.	Sell	-2,291	-0.7%	$8.82M	340,654
Q1 2023	GE GE Aerospace	GE Aerospace	Buy	+287	+4.4%	$644.73K	6,744
Q1 2023	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+546	+24.7%	$287.04K	2,760
Q1 2023	GOOGL Alphabet Inc.	Alphabet Inc.	Sell	-226	-0.4%	$6.07M	58,494
Q1 2023	GSK GSK plc	GSK plc	Sell	-463	-0.2%	$8.45M	237,416
Q1 2023	HD Home Depot, Inc. (The)	Home Depot, Inc. (The)	Sell	-350	-25.9%	$295.12K	1,000
Q1 2023	INTC Intel Corporation	Intel Corporation	Buy	+17,535	+7.8%	$7.96M	243,780
Q1 2023	IVV iShares Core S&P 500 ETF	iShares Core S&P 500 ETF	Buy	+3	+0.8%	$163.61K	398
Q1 2023	IWR iShares Russell Mid-Cap ETF	iShares Russell Mid-Cap ETF	Buy	+38	+1.4%	$189.70K	2,713
Q1 2023	JWN Nordstrom, Inc.	Nordstrom, Inc.	Buy	+10,252	+4.0%	$4.39M	269,724

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