Mark A. Hillman - Hillman Value Fund 13F Activity & Position Changes (Q4 2023)

As of Dec 31, 2023, the Hillman Value Fund portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Feb 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 Q4 2023, the filing reported:

New Buys - Estee Lauder Companies, Inc. (T, Pfizer, Inc., SPDR S&P 500

Increases - Air Products and Chemicals, Inc, Becton, Dickinson and Company, Biogen Inc., CVS Health Corporation, GSK plc, and 7 more

Reductions - Amazon.com, Inc., ASML, Boeing Company (The), Baxter International Inc., Anheuser-Busch Inbev SA Sponsor, and 23 more

Complete Exits - Adobe Inc., Medtronic, 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
Q4 2023	ADBE Adobe Inc.	Adobe Inc.	Sell - Position Exit	-15,203	-100.0%	$0.00	-
Q4 2023	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell	-866	-1.4%	$8.95M	58,891
Q4 2023	APD Air Products and Chemicals, Inc	Air Products and Chemicals, Inc	Buy	+22	+2.3%	$271.88K	993
Q4 2023	ASML ASML	ASML	Sell	-5	-0.0%	$9.44M	12,475
Q4 2023	BA Boeing Company (The)	Boeing Company (The)	Sell	-7,051	-16.5%	$9.28M	35,592
Q4 2023	BAX Baxter International Inc.	Baxter International Inc.	Sell	-2,980	-1.4%	$8.36M	216,268
Q4 2023	BDX Becton, Dickinson and Company	Becton, Dickinson and Company	Buy	+86	+0.3%	$6.13M	25,141
Q4 2023	BIIB Biogen Inc.	Biogen Inc.	Buy	+170	+0.5%	$8.92M	34,476
Q4 2023	BUD Anheuser-Busch Inbev SA Sponsor	Anheuser-Busch Inbev SA Sponsor	Sell	-26,185	-17.5%	$7.96M	123,114
Q4 2023	CAG ConAgra Brands, Inc.	ConAgra Brands, Inc.	Sell	-2,269	-1.2%	$5.50M	192,024
Q4 2023	CRM Salesforce, Inc.	Salesforce, Inc.	Sell	-44	-0.2%	$7.15M	27,171
Q4 2023	CVS CVS Health Corporation	CVS Health Corporation	Buy	+1,354	+1.2%	$8.97M	113,662
Q4 2023	DD DuPont de Nemours, Inc.	DuPont de Nemours, Inc.	Sell	-21	-0.0%	$8.56M	111,280
Q4 2023	DIS Walt Disney Company (The)	Walt Disney Company (The)	Sell	-17,915	-23.5%	$5.26M	58,251
Q4 2023	EFA iShares MSCI EAFE ETF	iShares MSCI EAFE ETF	Sell	-71	-0.3%	$1.78M	23,668
Q4 2023	EL Estee Lauder Companies, Inc. (T	Estee Lauder Companies, Inc. (T	Buy - Position Entry	+44,000	-	$6.43M	44,000
Q4 2023	GE GE Aerospace	GE Aerospace	Sell	-7	-0.3%	$330.43K	2,589
Q4 2023	GOOGL Alphabet Inc.	Alphabet Inc.	Sell	-13,569	-24.2%	$5.93M	42,431
Q4 2023	GSK GSK plc	GSK plc	Buy	+522	+0.2%	$8.65M	233,386
Q4 2023	IFF International Flavors & Fragran	International Flavors & Fragran	Sell	-15,000	-12.0%	$8.93M	110,277
Q4 2023	INTC Intel Corporation	Intel Corporation	Sell	-51,556	-21.9%	$9.24M	183,949
Q4 2023	IVV iShares Core S&P 500 ETF	iShares Core S&P 500 ETF	Sell	-11	-2.8%	$184.84K	387
Q4 2023	IWR iShares Russell Mid-Cap ETF	iShares Russell Mid-Cap ETF	Sell	-128	-4.9%	$192.22K	2,473
Q4 2023	JWN Nordstrom, Inc.	Nordstrom, Inc.	Buy	+94,884	+31.6%	$7.29M	395,139
Q4 2023	K Kellanova	Kellanova	Buy	+20,643	+17.9%	$7.62M	136,202
Q4 2023	KHC The Kraft Heinz Company	The Kraft Heinz Company	Buy	+504	+0.2%	$8.69M	235,042
Q4 2023	KMX CarMax Inc	CarMax Inc	Buy	+75,387	+1867.4%	$6.09M	79,424
Q4 2023	LRCX Lam Research Corporation	Lam Research Corporation	Sell	-22	-0.2%	$7.10M	9,063
Q4 2023	MDT Medtronic	Medtronic	Sell - Position Exit	-3,357	-100.0%	$0.00	-
Q4 2023	META Meta Platforms, Inc.	Meta Platforms, Inc.	Sell	-2,176	-10.6%	$6.50M	18,376

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