13F filing recap · Q3 2023

What did Hillman Capital Management buy in Q3 2023?

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

$259.75M

Positions

Estimated turnover

21.7%

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

BAXBaxter International Inc$8.27Mreported value+219.2K shares USBUS Bancorp$5.16Mreported value+156.0K shares

Increased positions

BIIBBiogen Inc.$8.82Mreported value+4.9K shares+16.6%IFFInternational Flavors & Fragrances Inc$8.54Mreported value+52.3K shares+71.6%BAThe Boeing Company$8.17Mreported value+3.4K shares+8.8%KHCKraft Heinz Co$7.89Mreported value+12.4K shares

Reduced positions

MSFTMicrosoft Corporation$10.44Mreported value-1.9K shares-5.5%WFCWells Fargo & Company/mn$8.63Mreported value-7.7K shares-3.5%GSKGsk Plc$8.44Mreported value-1.8K shares-0.8%INTCIntel Corp$8.37Mreported value-4.4K shares

Exited positions

EPDEnterprise Products Partners L.p.$8.94Mprior reported value-339.2K shares-100.0%CMPCompass Minerals International, Inc.$8.23Mprior reported value-242.0K shares-100.0%RSPInvesco S&P 500 Equal Weight ETF$982.1Kprior reported value-6.6K shares-100.0%IYWiShares Trust$245.0Kprior reported value