In Q2 2026, Hillman Capital Management held 51 US-listed stocks worth $138m. Its biggest move was buying Veeva Systems (now 1.8% of the portfolio), followed by cutting Price T Rowe Group (86% fewer shares, now 0.3%). It started 2 new positions and sold out of 3. Its largest holding is CVS Health at 4.2%.
Against Q1 2026, by number of shares and adjusted for splits. Up to five of each, largest first; the full list is below.
US holdings from the 13F
Q2 2026, filed 14 Aug 2026 (filing): 2 new, 13 added to, 34 trimmed, 3 sold out. Select a row to see it over time.How this works
Changes compare share counts with Q1 2026, adjusted for stock splits. Share classes of the same company are combined. Values are at quarter-end prices.
13F holdings with change from the previous quarter
Each bar is one 13F. Select a bar or press play to see that quarter’s 12 largest positions.How this works
Bars are split by share of the US portfolio: the six biggest holdings over the period in colour, everything else in grey. The last eight quarters are shown in full, earlier years at year end.
2019
2021
2023
Q4 ’24
Q2 ’25
Q4 ’25
Q2 ’26
CVSMSFTDDBAGSKWBDEverything else
2013: CVS Health 0.0%, Microsoft 3.7%, Dupont de Nemours 0.0%, Boeing 0.0%, GSK 0.0%, Warner Bros. Discovery 0.0%; 2019: CVS Health 3.8%, Microsoft 4.0%, Dupont de Nemours 0.0%, Boeing 0.0%, GSK 0.0%, Warner Bros. Discovery 0.0%; 2020: CVS Health 3.5%, Microsoft 3.6%, Dupont de Nemours 3.8%, Boeing 3.5%, GSK 0.0%, Warner Bros. Discovery 0.0%; 2021: CVS Health 3.9%, Microsoft 3.6%, Dupont de Nemours 3.5%, Boeing 0.0%, GSK 3.5%, Warner Bros. Discovery 0.0%; 2022: CVS Health 3.5%, Microsoft 3.4%, Dupont de Nemours 0.0%, Boeing 3.6%, GSK 3.3%, Warner Bros. Discovery 0.0%; 2023: CVS Health 3.1%, Microsoft 3.4%, Dupont de Nemours 0.0%, Boeing 3.2%, GSK 3.0%, Warner Bros. Discovery 0.0%; Q3 ’24: CVS Health 0.0%, Microsoft 3.5%, Dupont de Nemours 3.5%, Boeing 0.0%, GSK 0.0%, Warner Bros. Discovery 3.2%; Q4 ’24: CVS Health 0.0%, Microsoft 3.4%, Dupont de Nemours 3.2%, Boeing 3.8%, GSK 0.0%, Warner Bros. Discovery 3.6%; Q1 ’25: CVS Health 3.4%, Microsoft 0.0%, Dupont de Nemours 3.1%, Boeing 3.1%, GSK 3.1%, Warner Bros. Discovery 3.5%; Q2 ’25: CVS Health 3.5%, Microsoft 3.5%, Dupont de Nemours 3.1%, Boeing 3.6%, GSK 3.2%, Warner Bros. Discovery 3.7%; Q3 ’25: CVS Health 3.6%, Microsoft 3.5%, Dupont de Nemours 3.2%, Boeing 3.6%, GSK 3.6%, Warner Bros. Discovery 3.8%; Q4 ’25: CVS Health 3.6%, Microsoft 3.2%, Dupont de Nemours 3.4%, Boeing 3.5%, GSK 3.5%, Warner Bros. Discovery 3.9%; Q1 ’26: CVS Health 3.4%, Microsoft 0.0%, Dupont de Nemours 3.8%, Boeing 0.0%, GSK 3.7%, Warner Bros. Discovery 3.7%; Q2 ’26: CVS Health 4.2%, Microsoft 0.0%, Dupont de Nemours 3.7%, Boeing 3.4%, GSK 3.5%, Warner Bros. Discovery 3.7%
Q1 Q2 Q3 Q4 · each quarter is that quarter’s profits times the stake reported at its end. *2026 so far: 2 quarters. Click a quarter to see its holdings.
Net income is as reported (GAAP), so it includes one-off items and, for some companies, gains or losses on investments they hold. Companies that report under IFRS (most non-US companies) or whose shares we can’t match reliably are left out; “portfolio covered” shows how much is included. Look-through earnings explained. Growth compares earnings per share over the last 12 months with the 12 months a year earlier, for holdings profitable in both.
US holdings by sector
Health care24.7%
Consumer staples19.7%
Technology12.9%
Materials10.7%
Industrials8.2%
Communication and media7.5%
Consumer discretionary5.3%
Financials5.1%
Other2.3%
Real estate0.2%
Not classified3.4%
Sectors are grouped from each company’s SEC industry code, as a share of the Q2 2026 13F.