# Mark Hillman — Hillman Capital Management Portfolio USD 138,150,000 · 54 positions · 2026 Q2 · history from 2024 Q1. Source: quarterly 13F filings via dataroma.com. Page: https://gigainvestors.com/HCM ## Positions (2026 Q2) | Ticker | Company | % of portfolio | Value | This quarter | Holders | |---|---|---:|---:|---|---:| | CVS | CVS Health Corp. | 4.2% | USD 5,739,000 | -17.77% | | | BIIB | Biogen Inc. | 3.8% | USD 5,184,000 | -18.78% | | | DD | DuPont de Nemours Inc. | 3.7% | USD 5,120,000 | -3.96% | | | WBD | Warner Bros. Discovery Inc. | 3.7% | USD 5,065,000 | -3.22% | | | BAX | Baxter International Inc. | 3.6% | USD 5,032,000 | -4.56% | | | IFF | International Flavors & Fragrances Inc. | 3.6% | USD 4,981,000 | -13.6% | | | GSK | GSK plc | 3.5% | USD 4,843,000 | -5.18% | | | KMX | CarMax Inc. | 3.5% | USD 4,833,000 | -16.3% | | | BA | Boeing Co. | 3.4% | USD 4,670,000 | -3.37% | | | ZBH | Zimmer Biomet Holdings | 3.4% | USD 4,644,000 | -3.15% | | | KHC | Kraft Heinz Co. | 3.4% | USD 4,641,000 | -2.31% | | | BF.B | Brown-Forman Corp. | 3.3% | USD 4,597,000 | -2.22% | | | PFE | Pfizer Inc. | 3.0% | USD 4,205,000 | -7.09% | | | EL | Estee Lauder Cos. | 2.9% | USD 3,965,000 | -3.73% | | | FISV | Fiserv Inc. | 2.8% | USD 3,848,000 | -2.81% | | | MSFT | Microsoft Corp. | 2.8% | USD 3,841,000 | -4.91% | | | CPB | Campbell's Co. | 2.6% | USD 3,586,000 | -3.09% | | | ADBE | Adobe Inc. | 2.6% | USD 3,544,000 | +6.72% | | | EFA | iShares MSCI EAFE ETF | 2.4% | USD 3,297,000 | +2.88% | | | NKE | NIKE Inc. | 2.3% | USD 3,211,000 | +0.39% | | | TSM | Taiwan Semiconductor S.A. | 1.9% | USD 2,678,000 | -29.57% | | | BMY | Bristol-Myers Squibb | 1.9% | USD 2,606,000 | -14.81% | | | WST | West Pharmaceutical Services | 1.9% | USD 2,551,000 | -20.21% | | | USB | U.S. Bancorp | 1.8% | USD 2,492,000 | -21.47% | | | VEEV | Veeva Systems Inc. | 1.8% | USD 2,486,000 | new | | | CMCSA | Comcast Corp. | 1.8% | USD 2,476,000 | +5.9% | | | DIS | Walt Disney Co. | 1.8% | USD 2,443,000 | +3.2% | | | CAG | Conagra Brands Inc. | 1.8% | USD 2,433,000 | +22.41% | | | VZ | Verizon Communications | 1.8% | USD 2,425,000 | -11.9% | | | UPS | United Parcel Service | 1.7% | USD 2,399,000 | hold | | | BDX | Becton Dickinson | 1.7% | USD 2,306,000 | +7.24% | | | UNH | United Health Group Inc. | 1.6% | USD 2,246,000 | -27.01% | | | DEO | Diageo ADR | 1.6% | USD 2,210,000 | -0.05% | | | STZ | Constellation Brands | 1.6% | USD 2,177,000 | -16.73% | | | CRM | Salesforce.com | 1.6% | USD 2,140,000 | +24.66% | | | EFX | Equifax Inc. | 1.4% | USD 1,991,000 | -7.49% | | | AKAM | Akamai Technologies Inc. | 1.4% | USD 1,937,000 | -28.21% | | | HSY | Hershey Co. | 1.4% | USD 1,861,000 | hold | | | ORCL | Oracle Corp. | 1.2% | USD 1,685,000 | -28.64% | | | IVV | Ishares Core S&P 500 ETF | 0.9% | USD 1,190,000 | +27.12% | | | MDT | Medtronic plc | 0.3% | USD 446,000 | +55.59% | | | TROW | T. Rowe Price Group | 0.3% | USD 410,000 | -86.06% | | | APD | Air Products & Chemicals | 0.3% | USD 383,000 | -2.46% | | | ACN | Accenture | 0.3% | USD 380,000 | new | | | TMO | Thermo Fisher Scientific | 0.3% | USD 376,000 | +14.33% | | | RTX | RTX Corp. | 0.3% | USD 367,000 | -2.03% | | | GOOG | Alphabet Inc. CL C | 0.3% | USD 364,000 | -8.61% | | | NOW | ServiceNow Inc. | 0.3% | USD 339,000 | +1.13% | | | CLX | Clorox Co. | 0.2% | USD 337,000 | -0.68% | | | BLK | BlackRock Inc. | 0.2% | USD 330,000 | -1.15% | | | INTU | Intuit Inc. | 0.2% | USD 314,000 | +25.71% | | | CSGP | CoStar Group Inc. | 0.2% | USD 304,000 | +25.57% | | | IWR | Ishares Russell Mid Cap ETF | 0.2% | USD 221,000 | -18.05% | | | GOOGL | Alphabet Inc. | 0.0% | USD 1,000 | -33.33% | | ## Moves this quarter (56) - CVS CVS Health Corp.: -17.77% (USD 5,739,000) - BIIB Biogen Inc.: -18.78% (USD 5,184,000) - DD DuPont de Nemours Inc.: -3.96% (USD 5,120,000) - WBD Warner Bros. Discovery Inc.: -3.22% (USD 5,065,000) - BAX Baxter International Inc.: -4.56% (USD 5,032,000) - IFF International Flavors & Fragrances Inc.: -13.6% (USD 4,981,000) - GSK GSK plc: -5.18% (USD 4,843,000) - KMX CarMax Inc.: -16.3% (USD 4,833,000) - BA Boeing Co.: -3.37% (USD 4,670,000) - ZBH Zimmer Biomet Holdings: -3.15% (USD 4,644,000) - KHC Kraft Heinz Co.: -2.31% (USD 4,641,000) - BF.B Brown-Forman Corp.: -2.22% (USD 4,597,000) - PFE Pfizer Inc.: -7.09% (USD 4,205,000) - EL Estee Lauder Cos.: -3.73% (USD 3,965,000) - FISV Fiserv Inc.: -2.81% (USD 3,848,000) - MSFT Microsoft Corp.: -4.91% (USD 3,841,000) - CPB Campbell's Co.: -3.09% (USD 3,586,000) - ADBE Adobe Inc.: +6.72% (USD 3,544,000) - EFA iShares MSCI EAFE ETF: +2.88% (USD 3,297,000) - NKE NIKE Inc.: +0.39% (USD 3,211,000) - TSM Taiwan Semiconductor S.A.: -29.57% (USD 2,678,000) - BMY Bristol-Myers Squibb: -14.81% (USD 2,606,000) - WST West Pharmaceutical Services: -20.21% (USD 2,551,000) - USB U.S. Bancorp: -21.47% (USD 2,492,000) - VEEV Veeva Systems Inc.: new (USD 2,486,000) - CMCSA Comcast Corp.: +5.9% (USD 2,476,000) - DIS Walt Disney Co.: +3.2% (USD 2,443,000) - CAG Conagra Brands Inc.: +22.41% (USD 2,433,000) - VZ Verizon Communications: -11.9% (USD 2,425,000) - BDX Becton Dickinson: +7.24% (USD 2,306,000) - UNH United Health Group Inc.: -27.01% (USD 2,246,000) - DEO Diageo ADR: -0.05% (USD 2,210,000) - STZ Constellation Brands: -16.73% (USD 2,177,000) - CRM Salesforce.com: +24.66% (USD 2,140,000) - EFX Equifax Inc.: -7.49% (USD 1,991,000) - AKAM Akamai Technologies Inc.: -28.21% (USD 1,937,000) - ORCL Oracle Corp.: -28.64% (USD 1,685,000) - IVV Ishares Core S&P 500 ETF: +27.12% (USD 1,190,000) - MDT Medtronic plc: +55.59% (USD 446,000) - TROW T. Rowe Price Group: -86.06% (USD 410,000) - APD Air Products & Chemicals: -2.46% (USD 383,000) - ACN Accenture: new (USD 380,000) - TMO Thermo Fisher Scientific: +14.33% (USD 376,000) - RTX RTX Corp.: -2.03% (USD 367,000) - GOOG Alphabet Inc. CL C: -8.61% (USD 364,000) - GE GE Aerospace: sold (USD 363,998) - SPYM Ste Str SPDR Pt S&P 500 ETF: sold (USD 340,010) - NOW ServiceNow Inc.: +1.13% (USD 339,000) - CLX Clorox Co.: -0.68% (USD 337,000) - BLK BlackRock Inc.: -1.15% (USD 330,000) - INTU Intuit Inc.: +25.71% (USD 314,000) - CSGP CoStar Group Inc.: +25.57% (USD 304,000) - IGOV Ishares International Treasu: sold (USD 229,984) - BWX State Street SPDR Bloomberg: sold (USD 228,033) - IWR Ishares Russell Mid Cap ETF: -18.05% (USD 221,000) - GOOGL Alphabet Inc.: -33.33% (USD 1,000) ## Portfolio value by quarter - 2024 Q1: USD 311,228,041 (52 positions) - 2024 Q2: USD 283,286,398 (53 positions) - 2024 Q3: USD 291,577,964 (52 positions) - 2024 Q4: USD 269,555,692 (54 positions) - 2025 Q1: USD 203,228,829 (51 positions) - 2025 Q2: USD 183,202,566 (50 positions) - 2025 Q3: USD 171,848,090 (53 positions) - 2025 Q4: USD 158,911,961 (56 positions) - 2026 Q1: USD 143,989,706 (56 positions) - 2026 Q2: USD 138,150,000 (54 positions)