Mark A. Hillman – Hillman Value Fund Portfolio Activity & Recent Trades (Jun 30, 2025)

As of Jun 30, 2025, the Hillman Value Fund portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 14, 2025. 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 Q2 2025, the filing reported:

New Buys – Akamai Technologies, Inc. (AKAM)

Increases – Taiwan Semiconductor Manufactur (TSM), Bristol-Myers Squibb Company (BMY), The Kraft Heinz Company (KHC), iShares MSCI EAFE ETF (EFA), Medtronic (MDT), and 7 more

Reductions – Becton, Dickinson and Company (BDX), GE Aerospace (GE), DuPont de Nemours, Inc. (DD), ASML (ASML), Adobe Inc. (ADBE), and 31 more

Complete Exits – SPDR Portfolio S&P 500 ETF (SPLG), Western Union Company (The) (WU)

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Hillman Value Fund Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q4 2020Dec 31, 2020	VZ Verizon Communications Inc.	Verizon Communications Inc.	Buy	+12,851+22.7%	$4.08K	69,452
Q4 2020Dec 31, 2020	K Kellanova	Kellanova	Buy	+10,591+13.9%	$5.39K	86,543
Q4 2020Dec 31, 2020	WFC Wells Fargo & Company	Wells Fargo & Company	Buy	+9,194+4.4%	$6.63K	219,792
Q4 2020Dec 31, 2020	INTC Intel Corporation	Intel Corporation	Buy	+7,117+6.3%	$5.98K	119,970
Q4 2020Dec 31, 2020	JPM JP Morgan Chase & Co.	JP Morgan Chase & Co.	Buy	+6,600+21.0%	$4.84K	38,100
Q4 2020Dec 31, 2020	SPY SPDR S&P 500	SPDR S&P 500	Buy - Position Entry	+4,740	$1.77K	4,740
Q4 2020Dec 31, 2020	SCHW Charles Schwab Corporation (The	Charles Schwab Corporation (The	Buy - Position Entry	+4,239	$225.00	4,239
Q4 2020Dec 31, 2020	CMCSA Comcast Corporation	Comcast Corporation	Buy - Position Entry	+4,229	$222.00	4,229
Q4 2020Dec 31, 2020	KO Coca-Cola Company (The)	Coca-Cola Company (The)	Buy - Position Entry	+3,709	$203.00	3,709
Q4 2020Dec 31, 2020	GD General Dynamics Corporation	General Dynamics Corporation	Buy	+2,769+11.5%	$4.00K	26,883
Q4 2020Dec 31, 2020	MAR Marriott International	Marriott International	Buy - Position Entry	+1,894	$250.00	1,894
Q4 2020Dec 31, 2020	MMM 3M Company	3M Company	Buy - Position Entry	+1,228	$215.00	1,228
Q4 2020Dec 31, 2020	STZ Constellation Brands, Inc.	Constellation Brands, Inc.	Buy - Position Entry	+1,069	$234.00	1,069
Q4 2020Dec 31, 2020	LMT Lockheed Martin Corporation	Lockheed Martin Corporation	Buy - Position Entry	+599	$213.00	599
Q4 2020Dec 31, 2020	CSCO Cisco Systems, Inc.	Cisco Systems, Inc.	Buy	+534+0.5%	$4.37K	97,741
Q4 2020Dec 31, 2020	GS Goldman Sachs Group, Inc. (The)	Goldman Sachs Group, Inc. (The)	Buy	+429+2.0%	$5.64K	21,384
Q4 2020Dec 31, 2020	BAC Bank of America Corporation	Bank of America Corporation	Buy	+384+0.2%	$5.36K	176,854
Q4 2020Dec 31, 2020	BMY Bristol-Myers Squibb Company	Bristol-Myers Squibb Company	Buy	+316+0.4%	$5.21K	83,990
Q4 2020Dec 31, 2020	BIIB Biogen Inc.	Biogen Inc.	Buy	+292+1.5%	$4.88K	19,929
Q4 2020Dec 31, 2020	MDT Medtronic	Medtronic	Buy	+230+7.4%	$392.00	3,345
Q4 2020Dec 31, 2020	EMR Emerson Electric Company	Emerson Electric Company	Buy	+195+0.6%	$2.64K	32,833
Q4 2020Dec 31, 2020	BDX Becton, Dickinson and Company	Becton, Dickinson and Company	Buy	+151+1.1%	$3.34K	13,342
Q4 2020Dec 31, 2020	GOOG Alphabet Inc.	Alphabet Inc.	Buy - Position Entry	+119	$208.00	119
Q4 2020Dec 31, 2020	BA Boeing Company (The)	Boeing Company (The)	Buy	+87+0.3%	$6.48K	30,280
Q4 2020Dec 31, 2020	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+69+0.6%	$3.40K	12,445
Q4 2020Dec 31, 2020	DD DuPont de Nemours, Inc.	DuPont de Nemours, Inc.	Buy	+20+0.0%	$6.98K	98,210
Q4 2020Dec 31, 2020	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-83-0.3%	$6.70K	30,109
Q4 2020Dec 31, 2020	CMP Compass Minerals Intl Inc	Compass Minerals Intl Inc	Sell	-127-0.1%	$5.88K	95,203
Q4 2020Dec 31, 2020	IWR iShares Russell Mid-Cap ETF	iShares Russell Mid-Cap ETF	Sell	-155-5.9%	$170.00	2,478
Q4 2020Dec 31, 2020	BUD Anheuser-Busch Inbev SA Sponsor	Anheuser-Busch Inbev SA Sponsor	Sell	-463-0.5%	$6.33K	90,507

Page 32 of 42 • 1252 total trades

«‹

30 31 32 33 34

›»