13F filing recap · Q4 2013

What did Hillman Capital Management buy in Q4 2013?

Reported stock-position changes between this filing and the previous one. US-listed stocks across every Hillman account, including accounts that belong to no fund below.

Stock value

$66.89M

Positions

Estimated turnover

25.1%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

New positions

CATCaterpillar Inc$2.76Mreported value+30.4K shares EBAYEbay Inc.$2.64Mreported value+48.1K shares TGTTarget Corporation$633.0Kreported value+10.0K shares

Increased positions

RTNRaytheon Company$3.35Mreported value+9.1K shares+32.5%WUThe Western Union Company$2.62Mreported value+20.5K shares+15.6%RIGTransocean Ltd.$2.16Mreported value+2.8K shares+6.8%GLWCorning Inc /ny$966.0Kreported value+9.2K shares

Reduced positions

AXPAmerican Express Co$3.30Mreported value-164 shares-0.4%BACBank of America Corp$3.16Mreported value-952 shares-0.5%AAPLApple Inc.$2.88Mreported value-7 shares-0.1%GSThe Goldman Sachs Group, Inc.$2.87Mreported value-40 shares

Exited positions

GEGeneral Electric Company$2.69Mprior reported value-102.5K shares-100.0%DNKNDunkin' Brands Group Inc$1.99Mprior reported value-41.5K shares-100.0%NSCNorfolk Southern Corp$792.0Kprior reported value-9.0K shares-100.0%UPSUnited Parcel Service, Inc$688.0Kprior reported value-7.0K shares