13F filing recap · Q2 2025

What did Hillman Capital Management buy in Q2 2025?

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

$183.26M

Positions

Estimated turnover

16.1%

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.

Quarter in review

Hillman Capital Management opened a new position in Akamai Technologies and exited Western Union and SPDR Series Trust. The firm trimmed a wide range of holdings, with notable reductions in AT&T, Boeing, Estee Lauder, Microsoft, ASML, Anheuser-Busch InBev, Walt Disney, Microchip Technology, Advanced Micro Devices, and Alphabet. It also added to Taiwan Semiconductor Manufacturing and Bristol-Myers Squibb.

New positions

AKAMAkamai Technologies, Inc.$330.9Kreported value+4.1K shares

Increased positions

KHCKraft Heinz Co$5.42Mreported value+4.7K shares+2.3%TSMTaiwan Semiconductor Manufacturing$3.65Mreported value+14.3K shares+792.4%BMYBristol-Myers Squibb Company$3.32Mreported value+6.8K shares+10.5%EFXEquifax Inc$2.87Mreported value+90 shares

Reduced positions

TAT&T Inc.$6.83Mreported value-27.9K shares-10.6%WBDWarner Bros. Discovery, Inc.$6.82Mreported value-62.5K shares-9.5%BAThe Boeing Company$6.62Mreported value-6.0K shares-15.9%ELEstee Lauder Companies Inc$6.59Mreported value-13.7K shares

Exited positions

WUThe Western Union Company$3.91Mprior reported value-369.2K shares-100.0%SPYMSPDR Series Trust$554.4Kprior reported value-8.4K shares-100.0%