# Hillman Capital Management portfolio: Q2 2026 13F holdings

Hillman Capital Management: $138m in 51 US holdings at Q2 2026, with buys and sells. Top: CVS Health, Biogen, Dupont de Nemours, Warner Bros.

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%.

13F for the quarter ending 2026-06-30, filed 2026-08-14 ([filing](https://www.sec.gov/Archives/edgar/data/1314620/000139834426014467/0001398344-26-014467-index.htm)). $138m in US-listed holdings.

## 13F holdings

| Company | Value | Portfolio | Change | Q1 2026 |
| --- | --- | --- | --- | --- |
| CVS Health (CVS) | $5.7m | 4.2% | Trimmed -18% | 3.4% |
| Biogen (BIIB) | $5.2m | 3.8% | Trimmed -19% | 3.8% |
| Dupont de Nemours (DD) | $5.1m | 3.7% | Trimmed -68% | 3.8% |
| Warner Bros. Discovery (WBD) | $5.1m | 3.7% | Trimmed -3.2% | 3.7% |
| Baxter International (BAX) | $5.0m | 3.6% | Trimmed -4.6% | 2.9% |
| International Flavors & Fragrances (IFF) | $5.0m | 3.6% | Trimmed -14% | 3.7% |
| GSK (GSK) | $4.8m | 3.5% | Trimmed -5.2% | 3.7% |
| Carmax Ord (KMX) | $4.8m | 3.5% | Trimmed -16% | 3.1% |
| Ishares Tr (EFA) | $4.7m | 3.4% | Added +2.3% | 2.8% |
| Boeing (BA) | $4.7m | 3.4% | Trimmed -3.4% | 3.1% |
| Zimmer Biomet Holdings (ZBH) | $4.6m | 3.4% | Trimmed -3.2% | 3.5% |
| Kraft Heinz (KHC) | $4.6m | 3.4% | Trimmed -2.3% | 3.1% |
| Brown Forman (BF.B) | $4.6m | 3.3% | Trimmed -2.2% | 3.2% |
| Pfizer (PFE) | $4.2m | 3.0% | Trimmed -7.1% | 3.7% |
| Estée Lauder (EL) | $4.0m | 2.9% | Trimmed -3.7% | 2.6% |
| Fiserv (FISV) | $3.8m | 2.8% | Trimmed -2.8% | 3.1% |
| Microsoft (MSFT) | $3.8m | 2.8% | Trimmed -4.9% | 2.8% |
| Campbell's (CPB) | $3.6m | 2.6% | Trimmed -3.1% | 2.6% |
| Adobe (ADBE) | $3.5m | 2.6% | Added +6.7% | 2.7% |
| Nike (NKE) | $3.2m | 2.3% | Added +0.4% | 2.9% |
| Taiwan Semiconductor Manufacturing (TSM) | $2.7m | 1.9% | Trimmed -30% | 1.9% |
| Bristol-Myers Squibb (BMY) | $2.6m | 1.9% | Trimmed -15% | 2.2% |
| West Pharmaceutical Svsc (WST) | $2.6m | 1.9% | Trimmed -20% | 1.6% |
| US Bancorp (USB) | $2.5m | 1.8% | Trimmed -21% | 1.9% |
| Veeva Systems (VEEV) | $2.5m | 1.8% | New | – |
| Comcast (CMCSA) | $2.5m | 1.8% | Added +5.9% | 1.9% |
| Walt Disney (DIS) | $2.4m | 1.8% | Added +3.2% | 1.6% |
| Conagra Brands (CAG) | $2.4m | 1.8% | Added +22% | 1.6% |
| Verizon Communications (VZ) | $2.4m | 1.8% | Trimmed -12% | 2.3% |
| United Parcel Service (UPS) | $2.4m | 1.7% | Unchanged | 1.5% |
| Becton Dickinson & Co (BDX) | $2.3m | 1.7% | Added +7.2% | 1.6% |
| UnitedHealth Group (UNH) | $2.2m | 1.6% | Trimmed -27% | 1.4% |
| Diageo (DEO) | $2.2m | 1.6% | Trimmed -0.1% | 1.4% |
| Constellation Brands (STZ) | $2.2m | 1.6% | Trimmed -17% | 2.0% |
| Salesforce (CRM) | $2.1m | 1.6% | Added +25% | 1.4% |
| Equifax (EFX) | $2.0m | 1.4% | Trimmed -7.5% | 1.7% |
| Akamai Technologies (AKAM) | $1.9m | 1.4% | Trimmed -28% | 1.8% |
| Hershey (HSY) | $1.9m | 1.4% | Unchanged | 1.5% |
| Oracle (ORCL) | $1.7m | 1.2% | Trimmed -29% | 1.6% |
| Medtronic (MDT) | $446k | 0.3% | Added +56% | 0.2% |
| Price T Rowe Group (TROW) | $410k | 0.3% | Trimmed -86% | 1.6% |
| Air Products & Chemicals (APD) | $383k | 0.3% | Trimmed -2.5% | 0.3% |
| Accenture (ACN) | $380k | 0.3% | New | – |
| Thermo Fisher Scientific (TMO) | $376k | 0.3% | Added +14% | 0.2% |
| RTX (RTX) | $367k | 0.3% | Trimmed -2.0% | 0.3% |
| Alphabet (GOOG) | $365k | 0.3% | Trimmed -8.7% | 0.2% |
| ServiceNow (NOW) | $339k | 0.3% | Added +1.1% | 0.3% |
| Clorox (CLX) | $337k | 0.2% | Trimmed -0.7% | 0.3% |
| Blackrock (BLK) | $330k | 0.2% | Trimmed -1.2% | 0.2% |
| Intuit (INTU) | $314k | 0.2% | Added +26% | 0.3% |
| CoStar Group (CSGP) | $304k | 0.2% | Added +26% | 0.2% |
| Spdr Series Trust (SDY) | – | – | Sold out | 0.4% |
| GE Aerospace (GE) | – | – | Sold out | 0.3% |
| Ishares MSCI Acwi Etf (ACWX) | – | – | Sold out | 0.2% |

Source: SEC filings, via moatshark (https://www.moatshark.com/m/hillman-capital-management). Values traded and returns are estimates. Not investment advice. Built 2026-10-23.