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

According to the SEC 13F filed on May 15, 2023, the Hillman Value Fund portfolio showed several notable changes in holdings as of quarter-end Mar 31, 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	BlackRock	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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