Hillman Capital Management, Inc.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Hillman Capital Management, Inc. reported 52 stock positions worth $291.6 million. Its top holding was Intl Flavors & Fragrances (IFF) at 3.6% of the portfolio, followed by Microsoft (MSFT, 3.5%) and AT&T (T, 3.5%). Compared with Q2 2024, it opened 3 new positions, sold out of 4, added to 25 and reduced 19. The biggest buy was a new position in Nucor (NUE) and the biggest sale an exit from Kellanova (K).
- Most Recent 13F
- Q2 2026
- Location
- BETHESDA, MD
- CIK
- 0001314620
- Portfolio Value
- $291.6M (Q3 2024)
- SEC Filing
- 0001398344-24-020712 ↗ filed Nov 14, 2024
Holdings Value
Holdings 52 stocks · $291.6M
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 3.61% | 100,326 | $10.5M | Reduce -0.3% |
| MSFT Microsoft Corp. | 3.49% | 23,668 | $10.2M | Reduce -0.0% |
| T AT&T Inc. | 3.48% | 460,713 | $10.1M | Add +0.7% |
| DD Dupont DE Nemours Inc. | 3.46% | 113,244 | $10.1M | Add +0.5% |
| SPG Simon Property Group Inc. | 3.28% | 56,521 | $9.6M | Reduce -8.2% |
| WBD Warner Bros Discovery Inc. | 3.21% | 1,133,772 | $9.4M | Reduce -2.2% |
| AMZN Amazon.com Inc. | 3.18% | 49,770 | $9.3M | Add +0.3% |
| WFC Wells Fargo & Co. | 3.12% | 161,251 | $9.1M | Add +0.1% |
| KMX Carmax Inc. | 3.06% | 115,219 | $8.9M | Add +0.5% |
| BUD Anheuser-Busch Inbev-SPN ADR | 3.00% | 132,101 | $8.8M | Add +0.8% |
| ZBH Zimmer Biomet Holdings Inc. | 2.99% | 80,687 | $8.7M | Add +74.3% |
| BAX Baxter International Inc. | 2.90% | 222,703 | $8.5M | Add +1.0% |
| KHC The Kraft Heinz Co. | 2.89% | 239,719 | $8.4M | Add +1.1% |
| BMY Bristol-Myers Squibb Co. | 2.85% | 160,445 | $8.3M | Reduce -0.1% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 2.80% | 81,795 | $8.2M | Add +19.3% |
| GSK GSK PLC-Spon ADR | 2.76% | 196,896 | $8.0M | Add +0.9% |
| CVS CVS Health Corp. | 2.62% | 121,527 | $7.6M | Reduce -2.3% |
| USB US Bancorp | 2.55% | 162,778 | $7.4M | Reduce -0.1% |
| BA The Boeing Co. | 2.48% | 47,533 | $7.2M | Add +8.3% |
| CPB The Campbell's Company filed as CAMPBELL SOUP CO | 2.42% | 144,006 | $7.0M | No change |
| NKE Nike Inc. Class B | 2.41% | 79,408 | $7.0M | Add +26.0% |
| BIIB Biogen Inc. | 2.34% | 35,253 | $6.8M | Reduce -1.9% |
| PFE Pfizer Inc. | 2.29% | 231,059 | $6.7M | Reduce -0.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 2.24% | 67,980 | $6.5M | Add +24.5% |
| JWN Nordstrom Inc. | 2.23% | 289,275 | $6.5M | Reduce -0.0% |
| NUE Nucor Corp. | 2.21% | 42,943 | $6.5M | New |
| VZ Verizon Communications Inc. | 2.21% | 143,731 | $6.5M | Add +0.1% |
| EMR Emerson Electric Co. | 2.21% | 58,818 | $6.4M | Reduce -0.0% |
| CAG Conagra Brands Inc. | 2.18% | 195,334 | $6.4M | Reduce -0.0% |
| INTC Intel Corp. | 2.17% | 269,788 | $6.3M | Add +20.4% |
| CMCSA Comcast Corp. Class A | 2.13% | 149,005 | $6.2M | Reduce -0.0% |
| BDX Becton Dickinson and Co. | 2.08% | 25,133 | $6.1M | Add +0.1% |
| GOOGL Alphabet Inc. Class A | 2.03% | 35,700 | $5.9M | No change |
| CRM Salesforce Inc. | 1.99% | 21,205 | $5.8M | Add +0.1% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 1.96% | 52,455 | $5.7M | Add +0.0% |
| WU Western Union Co. | 1.87% | 456,575 | $5.4M | Add +0.1% |
| ADBE Adobe Inc. | 1.76% | 9,900 | $5.1M | Reduce -29.3% |
| EFX Equifax Inc. | 1.19% | 11,845 | $3.5M | Add +0.7% |
| EFA iShares MSCI Eafe ETF | 0.72% | 24,967 | $2.1M | Add +5.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.44% | 2,228 | $1.3M | New |
| APD Air Products & Chemicals Inc. | 0.12% | 1,165 | $347K | Reduce -2.9% |
| RTX RTX Corp. | 0.11% | 2,738 | $332K | Reduce -7.1% |
| GE General Electric filed as GE AEROSPACE | 0.11% | 1,709 | $322K | Reduce -1.0% |
| NOW ServiceNow Inc. | 0.11% | 354 | $317K | Reduce -4.3% |
| TSM Taiwan Semiconductor-SP ADR | 0.10% | 1,730 | $300K | New |
| GOOG Alphabet Inc. Class C | 0.10% | 1,741 | $291K | Reduce -1.7% |
| MDT Medtronic PLC | 0.10% | 3,207 | $289K | Add +1.4% |
| STZ Constellation Brands Inc. Class A | 0.10% | 1,081 | $279K | Add +0.8% |
| UNH Unitedhealth Group Inc. | 0.09% | 471 | $275K | No change |
| HD Home Depot Inc. | 0.09% | 670 | $271K | No change |
| IVV iShares Core S&P 500 ETF | 0.08% | 412 | $238K | No change |
| IWR iShares Russell Mid-Cap ETF | 0.07% | 2,482 | $219K | Add +0.1% |
Portfolio Sells Q2 2024 → Q3 2024
| K Kellanova | Sold out | 0.00% | −2.92 |
| BNY Bank of New York Mellon Corp. | Sold out | 0.00% | −2.37 |
| ADBE Adobe Inc. | Reduce -29.3% | 1.76% | −0.99 |
| BIIB Biogen Inc. | Reduce -1.9% | 2.34% | −0.60 |
| MSFT Microsoft Corp. | Reduce -0.0% | 3.49% | −0.24 |
| MMM 3M Co. | Sold out | 0.00% | −0.10 |
| BLK BlackRock Finance Inc. | Sold out | 0.00% | −0.10 |
| EMR Emerson Electric Co. | Reduce -0.0% | 2.21% | −0.08 |
| SPG Simon Property Group Inc. | Reduce -8.2% | 3.28% | −0.02 |
| GOOG Alphabet Inc. Class C | Reduce -1.7% | 0.10% | −0.01 |
| NOW ServiceNow Inc. | Reduce -4.3% | 0.11% | +0.01 |
| RTX RTX Corp. | Reduce -7.1% | 0.11% | +0.01 |
| APD Air Products & Chemicals Inc. | Reduce -2.9% | 0.12% | +0.01 |
| PFE Pfizer Inc. | Reduce -0.0% | 2.29% | +0.01 |
| GE General Electric | Reduce -1.0% | 0.11% | +0.01 |
| CVS CVS Health Corp. | Reduce -2.3% | 2.62% | +0.03 |
| JWN Nordstrom Inc. | Reduce -0.0% | 2.23% | +0.06 |
| CMCSA Comcast Corp. Class A | Reduce -0.0% | 2.13% | +0.07 |
| WBD Warner Bros Discovery Inc. | Reduce -2.2% | 3.21% | +0.16 |
| CAG Conagra Brands Inc. | Reduce -0.0% | 2.18% | +0.22 |
| IFF Intl Flavors & Fragrances | Reduce -0.3% | 3.61% | +0.23 |
| USB US Bancorp | Reduce -0.1% | 2.55% | +0.27 |
| BMY Bristol-Myers Squibb Co. | Reduce -0.1% | 2.85% | +0.49 |
Portfolio Buys Q2 2024 → Q3 2024
| NUE Nucor Corp. | New | 2.21% | +2.21 |
| ZBH Zimmer Biomet Holdings Inc. | Add +74.3% | 2.99% | +1.21 |
| NKE Nike Inc. Class B | Add +26.0% | 2.41% | +0.73 |
| SPY SS SPDR S&P 500 ETF Trust-US | New | 0.44% | +0.44 |
| T AT&T Inc. | Add +0.7% | 3.48% | +0.39 |
| DIS The Walt Disney Co. | Add +24.5% | 2.24% | +0.33 |
| BUD Anheuser-Busch Inbev-SPN ADR | Add +0.8% | 3.00% | +0.31 |
| BAX Baxter International Inc. | Add +1.0% | 2.90% | +0.29 |
| DD Dupont DE Nemours Inc. | Add +0.5% | 3.46% | +0.26 |
| EL Estee Lauder Companies Class A | Add +19.3% | 2.80% | +0.22 |
| KHC The Kraft Heinz Co. | Add +1.1% | 2.89% | +0.19 |
| EFX Equifax Inc. | Add +0.7% | 1.19% | +0.19 |
| VZ Verizon Communications Inc. | Add +0.1% | 2.21% | +0.12 |
| GSK GSK PLC-Spon ADR | Add +0.9% | 2.76% | +0.11 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.10% | +0.10 |
| KMX Carmax Inc. | Add +0.5% | 3.06% | +0.09 |
| CRM Salesforce Inc. | Add +0.1% | 1.99% | +0.07 |
| EFA iShares MSCI Eafe ETF | Add +5.1% | 0.72% | +0.06 |
| MDT Medtronic PLC | Add +1.4% | 0.10% | +0.01 |
| BDX Becton Dickinson and Co. | Add +0.1% | 2.08% | +0.01 |
| IWR iShares Russell Mid-Cap ETF | Add +0.1% | 0.07% | +0.00 |
| STZ Constellation Brands Inc. Class A | Add +0.8% | 0.10% | −0.00 |
| WU Western Union Co. | Add +0.1% | 1.87% | −0.10 |
| TROW T Rowe Price Group Inc. | Add +0.0% | 1.96% | −0.18 |
| AMZN Amazon.com Inc. | Add +0.3% | 3.18% | −0.21 |
| WFC Wells Fargo & Co. | Add +0.1% | 3.12% | −0.25 |
| INTC Intel Corp. | Add +20.4% | 2.17% | −0.28 |
| BA The Boeing Co. | Add +8.3% | 2.48% | −0.34 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 54 | $138.2M | CVS, BIIB, DD, WBD, BAX |
| Q1 2026 | 56 | $144.0M | BIIB, DD, WBD, GSK, IFF |
| Q4 2025 | 56 | $158.9M | WBD, ASML, EL, CVS, GSK |
| Q3 2025 | 53 | $171.8M | ASML, WBD, EL, CVS, BA |
| Q2 2025 | 50 | $183.3M | T, WBD, BA, EL, MSFT |
| Q1 2025 | 51 | $203.3M | T, WBD, CVS, ZBH, KMX |
| Q4 2024 | 54 | $269.6M | AMZN, T, BA, WBD, KMX |
| Q3 2024 | 52 | $291.6M | IFF, MSFT, T, DD, SPG |
| Q2 2024 | 53 | $283.2M | MSFT, AMZN, IFF, WFC, SPG |
| Q1 2024 | 52 | $311.2M | TSM, MSFT, WFC, AMZN, KMX |