Insights into Hillman Capital Management's Latest Investment Moves
Mark Hillman (Trades, Portfolio), the seasoned investor at the helm of Hillman Capital Management, has revealed his Q4 2023 portfolio adjustments through the latest 13F filing. With a keen eye for undervalued companies boasting quantitative competitive advantages, Hillman's investment strategy focuses on entities experiencing temporary market disfavor due to short-term, non-recurring issues. His valuation approach encompasses a thorough analysis of cash flow, dividends, sales, earnings, book value, and growth projections.
Summary of New Buys
Mark Hillman (Trades, Portfolio)'s portfolio welcomed 3 new stocks in the fourth quarter of 2023, including:
- The Estee Lauder Companies Inc (EL, Financial), with 44,000 shares, making up 2.22% of the portfolio and valued at $6.435 million.
- Pfizer Inc (PFE, Financial), comprising 187,795 shares, which represents 1.87% of the portfolio, with a total value of $5.406 million.
- S&P 500 ETF TRUST ETF (SPY, Financial), adding 5,293 shares, accounting for 0.87% of the portfolio and valued at $2.516 million.
Key Position Increases
Hillman also bolstered his stakes in 12 existing holdings, with significant increases in:
- CarMax Inc (KMX, Financial), with an additional 75,387 shares, bringing the total to 79,424 shares. This represents an 1867.4% increase in share count and a 1.99% portfolio impact, valued at $6.095 million.
- Nordstrom Inc (JWN, Financial), with an additional 94,884 shares, bringing the total to 395,139 shares. This adjustment marks a 31.6% increase in share count, with a total value of $7.290 million.
Summary of Sold Out Positions
Exiting four holdings, Hillman's most notable divestment was:
Key Position Reductions
Reductions were made in 28 stocks, with the most significant being:
- Microsoft Corp (MSFT, Financial), reduced by 7,196 shares, leading to a -21.77% decrease in shares and a -0.88% portfolio impact. The stock's average trading price was $355.93 during the quarter, with a 9.83% return over the past 3 months and 7.92% year-to-date.
- Intel Corp (INTC, Financial), reduced by 51,556 shares, resulting in a -21.89% share count reduction and a -0.7% portfolio impact. The stock traded at an average price of $40.62 during the quarter, with a 12.32% return over the past 3 months and -11.91% year-to-date.
Portfolio Overview
As of the fourth quarter of 2023, Mark Hillman (Trades, Portfolio)'s investment portfolio comprised 53 stocks. The top holdings included 3.49% in Simon Property Group Inc (SPG, Financial), 3.36% in Microsoft Corp (MSFT), 3.26% in ASML Holding NV (ASML, Financial), 3.2% in Boeing Co (BA, Financial), and 3.19% in Intel Corp (INTC). The investments span across 9 of the 11 industries, with a focus on Healthcare, Technology, Communication Services, Consumer Defensive, Financial Services, Consumer Cyclical, Industrials, Basic Materials, and Real Estate.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
