Mark Hillman, Hillman Capital Management

Portfolio USD 138,150,000 across 54 positions as of 2026 Q2; history from 2024 Q1. Source: quarterly 13F filings via dataroma.com.

Positions, 2026 Q2

• CVS CVS Health Corp.: 4.2% of portfolio, USD 5,739,000, reduce -17.77%
• BIIB Biogen Inc.: 3.8% of portfolio, USD 5,184,000, reduce -18.78%
• DD DuPont de Nemours Inc.: 3.7% of portfolio, USD 5,120,000, reduce -3.96%
• WBD Warner Bros. Discovery Inc.: 3.7% of portfolio, USD 5,065,000, reduce -3.22%
• BAX Baxter International Inc.: 3.6% of portfolio, USD 5,032,000, reduce -4.56%
• IFF International Flavors & Fragrances Inc.: 3.6% of portfolio, USD 4,981,000, reduce -13.6%
• GSK GSK plc: 3.5% of portfolio, USD 4,843,000, reduce -5.18%
• KMX CarMax Inc.: 3.5% of portfolio, USD 4,833,000, reduce -16.3%
• BA Boeing Co.: 3.4% of portfolio, USD 4,670,000, reduce -3.37%
• ZBH Zimmer Biomet Holdings: 3.4% of portfolio, USD 4,644,000, reduce -3.15%
• KHC Kraft Heinz Co.: 3.4% of portfolio, USD 4,641,000, reduce -2.31%
• BF.B Brown-Forman Corp.: 3.3% of portfolio, USD 4,597,000, reduce -2.22%
• PFE Pfizer Inc.: 3.0% of portfolio, USD 4,205,000, reduce -7.09%
• EL Estee Lauder Cos.: 2.9% of portfolio, USD 3,965,000, reduce -3.73%
• FISV Fiserv Inc.: 2.8% of portfolio, USD 3,848,000, reduce -2.81%
• MSFT Microsoft Corp.: 2.8% of portfolio, USD 3,841,000, reduce -4.91%
• CPB Campbell's Co.: 2.6% of portfolio, USD 3,586,000, reduce -3.09%
• ADBE Adobe Inc.: 2.6% of portfolio, USD 3,544,000, add +6.72%
• EFA iShares MSCI EAFE ETF: 2.4% of portfolio, USD 3,297,000, add +2.88%
• NKE NIKE Inc.: 2.3% of portfolio, USD 3,211,000, add +0.39%
• TSM Taiwan Semiconductor S.A.: 1.9% of portfolio, USD 2,678,000, reduce -29.57%
• BMY Bristol-Myers Squibb: 1.9% of portfolio, USD 2,606,000, reduce -14.81%
• WST West Pharmaceutical Services: 1.9% of portfolio, USD 2,551,000, reduce -20.21%
• USB U.S. Bancorp: 1.8% of portfolio, USD 2,492,000, reduce -21.47%
• VEEV Veeva Systems Inc.: 1.8% of portfolio, USD 2,486,000, new
• CMCSA Comcast Corp.: 1.8% of portfolio, USD 2,476,000, add +5.9%
• DIS Walt Disney Co.: 1.8% of portfolio, USD 2,443,000, add +3.2%
• CAG Conagra Brands Inc.: 1.8% of portfolio, USD 2,433,000, add +22.41%
• VZ Verizon Communications: 1.8% of portfolio, USD 2,425,000, reduce -11.9%
• UPS United Parcel Service: 1.7% of portfolio, USD 2,399,000, hold
• BDX Becton Dickinson: 1.7% of portfolio, USD 2,306,000, add +7.24%
• UNH United Health Group Inc.: 1.6% of portfolio, USD 2,246,000, reduce -27.01%
• DEO Diageo ADR: 1.6% of portfolio, USD 2,210,000, reduce -0.05%
• STZ Constellation Brands: 1.6% of portfolio, USD 2,177,000, reduce -16.73%
• CRM Salesforce.com: 1.6% of portfolio, USD 2,140,000, add +24.66%
• EFX Equifax Inc.: 1.4% of portfolio, USD 1,991,000, reduce -7.49%
• AKAM Akamai Technologies Inc.: 1.4% of portfolio, USD 1,937,000, reduce -28.21%
• HSY Hershey Co.: 1.4% of portfolio, USD 1,861,000, hold
• ORCL Oracle Corp.: 1.2% of portfolio, USD 1,685,000, reduce -28.64%
• IVV Ishares Core S&P 500 ETF: 0.9% of portfolio, USD 1,190,000, add +27.12%
• MDT Medtronic plc: 0.3% of portfolio, USD 446,000, add +55.59%
• TROW T. Rowe Price Group: 0.3% of portfolio, USD 410,000, reduce -86.06%
• APD Air Products & Chemicals: 0.3% of portfolio, USD 383,000, reduce -2.46%
• ACN Accenture: 0.3% of portfolio, USD 380,000, new
• TMO Thermo Fisher Scientific: 0.3% of portfolio, USD 376,000, add +14.33%
• RTX RTX Corp.: 0.3% of portfolio, USD 367,000, reduce -2.03%
• GOOG Alphabet Inc. CL C: 0.3% of portfolio, USD 364,000, reduce -8.61%
• NOW ServiceNow Inc.: 0.3% of portfolio, USD 339,000, add +1.13%
• CLX Clorox Co.: 0.2% of portfolio, USD 337,000, reduce -0.68%
• BLK BlackRock Inc.: 0.2% of portfolio, USD 330,000, reduce -1.15%
• INTU Intuit Inc.: 0.2% of portfolio, USD 314,000, add +25.71%
• CSGP CoStar Group Inc.: 0.2% of portfolio, USD 304,000, add +25.57%
• IWR Ishares Russell Mid Cap ETF: 0.2% of portfolio, USD 221,000, reduce -18.05%
• GOOGL Alphabet Inc.: 0.0% of portfolio, USD 1,000, reduce -33.33%

Portfolio value, all published quarters

• 2024 Q1: USD 311,228,041
• 2024 Q2: USD 283,286,398
• 2024 Q3: USD 291,577,964
• 2024 Q4: USD 269,555,692
• 2025 Q1: USD 203,228,829
• 2025 Q2: USD 183,202,566
• 2025 Q3: USD 171,848,090
• 2025 Q4: USD 158,911,961
• 2026 Q1: USD 143,989,706
• 2026 Q2: USD 138,150,000