Mark A. Hillman - Hillman Value Fund 13F Activity & Position Changes (Q4 2022)

According to the SEC 13F filed on Feb 14, 2023, the Hillman Value Fund portfolio showed several notable changes in holdings as of quarter-end Dec 31, 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 Q4 2022, the filing reported:

New Buys - Walt Disney Company (The), Home Depot, Inc. (The), iShares Core S&P 500 ETF, SPDR S&P 500, UnitedHealth Group Incorporated

Increases - iShares MSCI EAFE ETF, Alphabet Inc., Meta Platforms, Inc., Warner Bros. Discovery, Inc. -

Reductions - Adobe Inc., Amazon.com, Inc., Air Products and Chemicals, Inc, ASML, Boeing Company (The), and 38 more

Complete Exits - Merck & Company, Inc.

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
Q4 2022	ADBE Adobe Inc.	Adobe Inc.	Sell	-925	-5.5%	$5.37M	15,971
Q4 2022	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell	-4,136	-6.5%	$5.04M	59,973
Q4 2022	APD Air Products and Chemicals, Inc	Air Products and Chemicals, Inc	Sell	-743	-29.3%	$551.48K	1,789
Q4 2022	ASML ASML	ASML	Sell	-3,172	-19.6%	$7.13M	13,047
Q4 2022	BA Boeing Company (The)	Boeing Company (The)	Sell	-2,118	-4.3%	$9.08M	47,676
Q4 2022	BDX Becton, Dickinson and Company	Becton, Dickinson and Company	Sell	-761	-2.8%	$6.70M	26,335
Q4 2022	BIIB Biogen Inc.	Biogen Inc.	Sell	-1,678	-5.3%	$8.33M	30,076
Q4 2022	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Sell	-1,306	-0.8%	$6.95M	152,779
Q4 2022	BLK BlackRock, Inc.	BlackRock, Inc.	Sell	-86	-9.5%	$578.24K	816
Q4 2022	BUD Anheuser-Busch Inbev SA Sponsor	Anheuser-Busch Inbev SA Sponsor	Sell	-6,246	-3.9%	$9.24M	153,961
Q4 2022	CAG ConAgra Brands, Inc.	ConAgra Brands, Inc.	Sell	-42,441	-21.4%	$6.04M	156,148
Q4 2022	CMCSA Comcast Corporation	Comcast Corporation	Sell	-6,114	-29.1%	$521.40K	14,910
Q4 2022	CMP Compass Minerals Intl Inc	Compass Minerals Intl Inc	Sell	-5,948	-3.5%	$6.76M	164,812
Q4 2022	CRM Salesforce, Inc.	Salesforce, Inc.	Sell	-1,576	-3.7%	$5.43M	40,977
Q4 2022	CVS CVS Health Corporation	CVS Health Corporation	Sell	-707	-0.7%	$8.91M	95,635
Q4 2022	DD DuPont de Nemours, Inc.	DuPont de Nemours, Inc.	Sell	-21,693	-15.7%	$7.98M	116,324
Q4 2022	DIS Walt Disney Company (The)	Walt Disney Company (The)	Buy - Position Entry	+65,744	-	$5.71M	65,744
Q4 2022	EFA iShares MSCI EAFE ETF	iShares MSCI EAFE ETF	Buy	+1,018	+4.5%	$1.55M	23,679
Q4 2022	EFX Equifax, Inc.	Equifax, Inc.	Sell	-1,123	-7.6%	$2.64M	13,575
Q4 2022	EMR Emerson Electric Company	Emerson Electric Company	Sell	-668	-0.9%	$6.96M	72,420
Q4 2022	EPD Enterprise Products Partners L.	Enterprise Products Partners L.	Sell	-2,845	-0.8%	$8.27M	342,945
Q4 2022	GE GE Aerospace	GE Aerospace	Sell	-4,618	-41.7%	$541.03K	6,457
Q4 2022	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+51	+2.4%	$196.45K	2,214
Q4 2022	GOOGL Alphabet Inc.	Alphabet Inc.	Sell	-2,452	-4.0%	$5.18M	58,720
Q4 2022	GSK GSK plc	GSK plc	Sell	-6,099	-2.5%	$8.36M	237,879
Q4 2022	HD Home Depot, Inc. (The)	Home Depot, Inc. (The)	Buy - Position Entry	+1,350	-	$426.41K	1,350
Q4 2022	INTC Intel Corporation	Intel Corporation	Sell	-17,194	-7.1%	$5.98M	226,245
Q4 2022	IVV iShares Core S&P 500 ETF	iShares Core S&P 500 ETF	Buy - Position Entry	+395	-	$151.76K	395
Q4 2022	IWR iShares Russell Mid-Cap ETF	iShares Russell Mid-Cap ETF	Sell	-12	-0.4%	$180.41K	2,675
Q4 2022	JWN Nordstrom, Inc.	Nordstrom, Inc.	Sell	-16,001	-5.8%	$4.19M	259,472

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