Hillman Value Fund (HCMAX) - Full Holdings
| Ticker | Cusip | Description | Shares | Market Value | % of Portfolio |
|---|---|---|---|---|---|
| 64058100 | BK | Bank of New York Mellon Corp. | 140388 | 6390461.76 | 3.41% |
| 03524A108 | BUD | Anheuser-Busch InBev NV | 106000 | 6364240 | 3.39% |
| 291011104 | EMR | Emerson Electric Co. | 66000 | 6339960 | 3.38% |
| 97023105 | BA | Boeing Co. | 33000 | 6286170 | 3.35% |
| 500754106 | KHC | Kraft Heinz Co. | 152000 | 6187920 | 3.30% |
| 75887109 | BDX | Becton Dickinson and Co. | 24000 | 6103200 | 3.25% |
| 949746101 | WFC | Wells Fargo & Co. | 147655 | 6096674.95 | 3.25% |
| 37733W204 | GSK | GSK PLC | 172865 | 6074476.1 | 3.24% |
| 126650100 | CVS | CVS Health Corp. | 65000 | 6057350 | 3.23% |
| 828806109 | SPG | Simon Property Group Inc. | 50000 | 5874000 | 3.13% |
| 98956P102 | ZBH | Zimmer Biomet Holdings Inc. | 44100 | 5622750 | 3.00% |
| 594918104 | MSFT | Microsoft Corp. | 23346 | 5598837.72 | 2.98% |
| 293792107 | EPD | Enterprise Products Partners LP | 230000 | 5547600 | 2.96% |
| 487836108 | K | Kellogg Co. | 78000 | 5556720 | 2.96% |
| 7.55E+105 | RTX | Raytheon Technologies Corp. | 55000 | 5550600 | 2.96% |
| 205887102 | CAG | Conagra Brands Inc. | 142000 | 5495400 | 2.93% |
| 74144T108 | TROW | T Rowe Price Group Inc. | 50000 | 5453000 | 2.91% |
| 512807108 | LRCX | Lam Research Corp. | 12600 | 5295780 | 2.82% |
| 26614N102 | DD | DuPont de Nemours Inc. | 76000 | 5215880 | 2.78% |
| 254687106 | DIS | Walt Disney Co. | 60000 | 5212800 | 2.78% |
| 00206R102 | T | AT&T Inc. | 283000 | 5210030 | 2.78% |
| 934423104 | WBD | Warner Bros Discovery Inc. | 539506 | 5114516.88 | 2.73% |
| 09062X103 | BIIB | Biogen Inc. | 18261 | 5056836.12 | 2.70% |
| 79466L302 | CRM | Salesforce Inc. | 38215 | 5066926.85 | 2.70% |
| 874039100 | TSM | Taiwan Semiconductor Manufacturing Co. Ltd. | 67729 | 5045133.21 | 2.69% |
| 02079K305 | GOOGL | Alphabet Inc. | 56000 | 4940880 | 2.63% |
| 92343V104 | VZ | Verizon Communications Inc. | 125000 | 4925000 | 2.63% |
| 00724F101 | ADBE | Adobe Inc. | 14600 | 4913338 | 2.62% |
| N07059210 | ASML | ASML Holding NV | 8488 | 4637843.2 | 2.47% |
| 959802109 | WU | Western Union Co. | 325000 | 4475250 | 2.39% |
| 458140100 | INTC | Intel Corp. | 167605 | 4429800.15 | 2.36% |
| 30303M102 | META | Meta Platforms Inc. | 35700 | 4296138 | 2.29% |
| 20451N101 | CMP | Compass Minerals International Inc. | 104000 | 4264000 | 2.27% |
| 655664100 | JWN | Nordstrom Inc. | 240000 | 3873600 | 2.06% |
| 23135106 | AMZN | Amazon.com Inc. | 42000 | 3528000 | 1.88% |
| Cash Equivalent | 1510560.3 | 1510560.3 | 0.79% |
Data as of 12/31/2022
Holdings are subject to change