Hillman Capital Management 13F, Q3 2025
Hillman Capital · quarter ending 30 September 2025 · filed 14 November 2025 · SEC CIK 1314620
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q3 2025
The 25 largest of 53 positions. Weights are against the whole filed book. Changes are in shares held, against the Q2 2025 filing.
| Company | Ticker | Value | % of book | vs Q2 2025 |
|---|---|---|---|---|
| ASML HOLDING N V | $6.55M | 3.8% | -12% shares | |
| WARNER BROS DISCOVERY INC | WBD | $6.46M | 3.8% | -45% shares |
| LAUDER ESTEE COS INC | EL | $6.23M | 3.6% | -13% shares |
| CVS HEALTH CORP | CVS | $6.21M | 3.6% | -11% shares |
| BOEING CO | BA | $6.15M | 3.6% | -10% shares |
| GSK PLC | GSK | $6.12M | 3.6% | -7% shares |
| MICROSOFT CORP | MSFT | $5.94M | 3.5% | -12% shares |
| DUPONT DE NEMOURS INC | DWDPEUR | $5.54M | 3.2% | -13% shares |
| PFIZER INC | PFE | $5.52M | 3.2% | -8% shares |
| KRAFT HEINZ CO | KHC | $5.50M | 3.2% | unchanged |
| THE CAMPBELLS COMPANY | CPB | $5.46M | 3.2% | +84% shares |
| ANHEUSER BUSCH INBEV SA/NV | BUD | $5.41M | 3.1% | +4% shares |
| BAXTER INTL INC | BAX | $5.39M | 3.1% | +33% shares |
| BIOGEN INC | BIIB | $5.37M | 3.1% | -9% shares |
| ZIMMER BIOMET HOLDINGS INC | ZBH | $5.20M | 3.0% | -5% shares |
| NIKE INC | NKE | $5.17M | 3.0% | -18% shares |
| BROWN FORMAN CORP | BF/B | $5.10M | 3.0% | +7% shares |
| INTERNATIONAL FLAVORS&FRAGRA | IFF | $4.88M | 2.8% | +6% shares |
| CARMAX INC | KMX | $4.11M | 2.4% | +15% shares |
| VERIZON COMMUNICATIONS INC | VZ | $3.20M | 1.9% | -9% shares |
| BECTON DICKINSON & CO | BDX | $3.15M | 1.8% | unchanged |
| DISNEY WALT CO | DIS | $3.14M | 1.8% | -5% shares |
| BRISTOL-MYERS SQUIBB CO | BMY | $3.13M | 1.8% | -3% shares |
| TAIWAN SEMICONDUCTOR MFG LTD | TSM | $3.12M | 1.8% | -31% shares |
| PRICE T ROWE GROUP INC | TROW | $3.05M | 1.8% | -22% shares |
What changed since Q2 2025
Against the Q2 2025 filing, Hillman Capital Management opened 5 new positions, added to 10, trimmed 27, left 11 unchanged and exited 2. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001398344-25-020908, filed by Hillman Capital Management, Inc.. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.