Mark A. Hillman - Hillman Value Fund 13F Activity & Position Changes (Q3 2024)

As of Sep 30, 2024, the Hillman Value Fund portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Nov 14, 2024. 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 Q3 2024, the filing reported:

New Buys - Nucor Corporation, SPDR S&P 500, Taiwan Semiconductor Manufactur

Increases - Amazon.com, Inc., Boeing Company (The), Baxter International Inc., Becton, Dickinson and Company, Anheuser-Busch Inbev SA Sponsor, and 20 more

Reductions - Adobe Inc., Air Products and Chemicals, Inc, Biogen Inc., Bristol-Myers Squibb Company, ConAgra Brands, Inc., and 14 more

Complete Exits - The Bank of New York Mellon Cor, BlackRock, Kellanova, 3M Company

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
Q3 2024	ADBE Adobe Inc.	Adobe Inc.	Sell	-4,100	-29.3%	$5.13M	9,900
Q3 2024	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+128	+0.3%	$9.27M	49,770
Q3 2024	APD Air Products and Chemicals, Inc	Air Products and Chemicals, Inc	Sell	-35	-2.9%	$346.87K	1,165
Q3 2024	BA Boeing Company (The)	Boeing Company (The)	Buy	+3,648	+8.3%	$7.23M	47,533
Q3 2024	BAX Baxter International Inc.	Baxter International Inc.	Buy	+2,127	+1.0%	$8.46M	222,703
Q3 2024	BDX Becton, Dickinson and Company	Becton, Dickinson and Company	Buy	+18	+0.1%	$6.06M	25,133
Q3 2024	BIIB Biogen Inc.	Biogen Inc.	Sell	-701	-1.9%	$6.83M	35,253
Q3 2024	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Sell - Position Exit	-112,230	-100.0%	$0.00	-
Q3 2024	BLK BlackRock	BlackRock	Sell - Position Exit	-349	-100.0%	$0.00	-
Q3 2024	BMY Bristol-Myers Squibb Company	Bristol-Myers Squibb Company	Sell	-84	-0.1%	$8.30M	160,445
Q3 2024	BUD Anheuser-Busch Inbev SA Sponsor	Anheuser-Busch Inbev SA Sponsor	Buy	+1,050	+0.8%	$8.76M	132,101
Q3 2024	CAG ConAgra Brands, Inc.	ConAgra Brands, Inc.	Sell	-60	-0.0%	$6.35M	195,334
Q3 2024	CMCSA Comcast Corporation	Comcast Corporation	Sell	-38	-0.0%	$6.22M	149,005
Q3 2024	CRM Salesforce, Inc.	Salesforce, Inc.	Buy	+12	+0.1%	$5.80M	21,205
Q3 2024	CVS CVS Health Corporation	CVS Health Corporation	Sell	-2,802	-2.3%	$7.64M	121,527
Q3 2024	DD DuPont de Nemours, Inc.	DuPont de Nemours, Inc.	Buy	+546	+0.5%	$10.09M	113,244
Q3 2024	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy	+13,362	+24.5%	$6.54M	67,980
Q3 2024	EFA iShares MSCI EAFE ETF	iShares MSCI EAFE ETF	Buy	+1,211	+5.1%	$2.09M	24,967
Q3 2024	EFX Equifax, Inc.	Equifax, Inc.	Buy	+76	+0.6%	$3.48M	11,845
Q3 2024	EL Estee Lauder Companies, Inc. (T	Estee Lauder Companies, Inc. (T	Buy	+13,209	+19.3%	$8.15M	81,795
Q3 2024	EMR Emerson Electric Company	Emerson Electric Company	Sell	-13	-0.0%	$6.43M	58,818
Q3 2024	GE GE Aerospace	GE Aerospace	Sell	-18	-1.0%	$322.28K	1,709
Q3 2024	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-30	-1.7%	$291.08K	1,741
Q3 2024	GSK GSK plc	GSK plc	Buy	+1,770	+0.9%	$8.05M	196,896
Q3 2024	IFF International Flavors & Fragran	International Flavors & Fragran	Sell	-253	-0.3%	$10.53M	100,326
Q3 2024	INTC Intel Corporation	Intel Corporation	Buy	+45,752	+20.4%	$6.33M	269,788
Q3 2024	IWR iShares Russell Mid-Cap ETF	iShares Russell Mid-Cap ETF	Buy	+3	+0.1%	$218.74K	2,482
Q3 2024	JWN Nordstrom, Inc.	Nordstrom, Inc.	Sell	-15	-0.0%	$6.51M	289,275
Q3 2024	K Kellanova	Kellanova	Sell - Position Exit	-143,491	-100.0%	$0.00	-
Q3 2024	KHC The Kraft Heinz Company	The Kraft Heinz Company	Buy	+2,548	+1.1%	$8.42M	239,719

Page 1 of 2