Hillman Capital

Q1 2021 13F · by Mark Hillman, CIO

As of: Mar 31, 2021
Filed: May 14, 2021
US stock: $228M · prev $185M
Positions: 43 · prev 46
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves49 since the prior filing

+18.8 pp in · −18.8 pp out

New 3 +8.29 pp
Added 32 +10.49 pp
Trimmed 8 −3.27 pp
Exited 6 −15.50 pp

The book

Focused · behaves like 32 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 63% a year, about 1.6 years per position

Low
Moderate
High

Top 5 positions19% of US stock

WFC Wells Fargo & Co. added+0.37 pp added+0.374.0%
XOM Exxon Mobil Corp added+0.60 pp added+0.603.8%
KEL Kellanova added+0.85 pp added+0.853.8%
KHC The Kraft Heinz Company added+0.19 pp added+0.193.8%
BA Boeing Company added+0.25 pp added+0.253.8%

Positions43 in this filing · 6 exited


WFCWells Fargo & Co.	3.95%	230,595	$9M	added+5%	+0.37 pp	6 q
XOMExxon Mobil Corp	3.84%	156,968	$9M	added+8%	+0.60 pp	6 q
KELKellanova	3.76%	135,543	$9M	added+57%	+0.85 pp	6 q
KHCThe Kraft Heinz Company	3.76%	214,357	$9M	added+12%	+0.19 pp	6 q
BABoeing Company	3.75%	33,531	$9M	added+11%	+0.25 pp	4 q
unresolvedGlaxosmithkline PLC	3.63%	232,065	$8M	added×41.3	+3.52 pp	2 q
CVSCvs Health Corporation	3.57%	108,219	$8M	added+15%	+0.09 pp	6 q
BUDAnheuser-Busch INBEV SA/NV	3.52%	127,801	$8M	added+41%	+0.10 pp	6 q
DDDuPont de Nemours, Inc.	3.45%	101,896	$8M	added+4%	−0.32 pp	6 q
PAAPlains All American Pipeline, L.P. Common Units representing Limited Partner Interests	3.42%	855,708	$8M	added+7%	−0.14 pp	5 q
SPGSimon Property Group, Inc.	3.42%	68,463	$8M	added+2%	+0.33 pp	6 q
INTCIntel Corp	3.37%	120,032	$8M	added0%	+0.14 pp	6 q
AMZNAmazon.Com Inc	3.35%	2,470	$8M	new	+3.35 pp	new
BIIBBiogen Inc.	3.35%	27,289	$8M	added+37%	+0.72 pp	6 q
TAT&T Inc.	3.30%	248,533	$8M	added+31%	+0.36 pp	6 q
MSFTMicrosoft Corp	3.30%	31,884	$8M	added+6%	−0.32 pp	6 q
BMYBristol-Myers Squibb Co.	3.24%	117,107	$7M	added+39%	+0.43 pp	6 q
EPDEnterprise Products Partners L.P.	3.13%	323,883	$7M	added+2%	−0.22 pp	6 q
CMPCompass Minerals International, Inc.	2.89%	104,982	$7M	added+10%	−0.28 pp	6 q
VZVerizon Communications	2.76%	108,179	$6M	added+56%	+0.56 pp	6 q
GOOGLAlphabet Inc. Class A	2.71%	3,000	$6M	new	+2.71 pp	new
BDXBecton, Dickinson and Co.	2.71%	25,435	$6M	added+91%	+0.91 pp	5 q
PFEPfizer Inc.	2.68%	168,655	$6M	added+55%	+0.52 pp	6 q
METAMeta Platforms, Inc. Class A	2.65%	20,517	$6M	added+65%	+0.82 pp	6 q
CSCOCisco Systems, Inc. (DE)	2.58%	113,612	$6M	added+16%	+0.22 pp	3 q
GDGeneral Dynamics Corporation	2.58%	32,351	$6M	added+20%	+0.42 pp	3 q
RTXRTX Corporation	2.49%	73,339	$6M	added+9%	−0.10 pp	4 q
BNYBank of New York Mellon Corporation	2.34%	112,927	$5M	added+7%	−0.07 pp	2 q
MRKMerck & Co., Inc.	2.30%	67,978	$5M	added+15%	−0.30 pp	6 q
WEPMagellan Midstream Partners	2.23%	117,344	$5M	new	+2.23 pp	new
99803EURLaboratory Crp Of Amer Hldgs	2.13%	18,998	$5M	trimmed−0%	+0.04 pp	6 q
EMREmerson Electric Co.	1.29%	32,702	$3M	trimmed−0%	−0.13 pp	6 q
LMTLockheed Martin Corp.	1.07%	6,607	$2M	added×11.0	+0.96 pp	2 q
EFAiShares MSCI EAFE ETF	0.50%	15,070	$1M	added+3%	−0.08 pp	6 q
MDTMedtronic plc	0.17%	3,334	$394,000	trimmed−0%	−0.04 pp	6 q
GOOGAlphabet Inc. Class C	0.11%	117	$242,000	trimmed−2%	0.00 pp	2 q
MARMarriott International Class A	0.11%	1,680	$249,000	trimmed−11%	−0.02 pp	2 q
KOCoca-Cola Company	0.10%	4,331	$228,000	added+17%	−0.01 pp	2 q
CMCSAComcast Corp	0.10%	4,147	$224,000	trimmed−2%	−0.02 pp	2 q
STZConstellation Brands, Inc.	0.10%	1,025	$234,000	trimmed−4%	−0.03 pp	2 q
unresolvedGeneral Electric Co	0.10%	18,079	$237,000	trimmed−97%	−3.07 pp	6 q
MMM3M Company	0.10%	1,229	$237,000	added0%	−0.02 pp	2 q
IWRiShares Russell Mid-Cap ETF	0.08%	2,581	$191,000	added+4%	−0.01 pp	6 q
JWNNordstrom, Inc.	—	−348,923	—	exited	−5.88 pp	—
GSGoldman Sachs Group Inc.	—	−21,384	—	exited	−3.04 pp	—
BACBank of America Corporation	—	−176,854	—	exited	−2.89 pp	—
JPMJPMorgan Chase & Co.	—	−38,100	—	exited	−2.61 pp	—
SPYState Street SPDR S&P 500 ETF Trust	—	−4,740	—	exited	−0.96 pp	—
SCHWThe Charles Schwab Corporation	—	−4,239	—	exited	−0.12 pp	—