Hillman Value Fund
| History | Stock | Activity ▲ | Share change | % change to portfolio |
| Q4 2008 | ≡ | GR - Goodrich Corp. | Reduce 31.49% | 11,400 | 2.46 | ≡ | MSFT - Microsoft Corp. | Reduce 30.22% | 19,400 | 2.20 | ≡ | JPM - JPMorgan Chase & Co. | Reduce 29.21% | 11,800 | 2.17 | ≡ | AET - Aetna Inc. | Reduce 27.39% | 12,600 | 2.09 | ≡ | LRCX - Lam Research | Reduce 26.31% | 14,100 | 1.75 | ≡ | GE - GE Aerospace | Reduce 22.98% | 1,988 | 1.50 | ≡ | AKAM - Akamai Technologies Inc. | Reduce 9.21% | 5,800 | 0.51 | ≡ | DD-OLD - Du Pont (E.I.) OLD | Reduce 6.44% | 2,300 | 0.34 | ≡ | GLW - Corning Inc. | Reduce 5.53% | 5,200 | 0.29 | ≡ | HST - Host Hotels & Resorts | Reduce 4.30% | 5,200 | 0.23 | ≡ | GS - Goldman Sachs Group | Reduce 1.82% | 200 | 0.10 |
| Q3 2008 | ≡ | GLW - Corning Inc. | Buy | 94,000 | 4.64 | ≡ | GR - Goodrich Corp. | Buy | 36,200 | 4.75 | ≡ | IR - Ingersoll Rand Inc. | Buy | 48,400 | 4.76 | ≡ | MSFT - Microsoft Corp. | Buy | 64,200 | 5.41 | ≡ | DD-OLD - Du Pont (E.I.) OLD | Reduce 62.42% | 59,300 | 7.54 | ≡ | XOM - Exxon Mobil Corp. | Reduce 62.00% | 34,100 | 8.35 | ≡ | C - Citigroup Inc. | Reduce 61.38% | 13,320 | 8.62 | ≡ | JPM - JPMorgan Chase & Co. | Reduce 60.73% | 62,466 | 9.20 | ≡ | HD - Home Depot | Reduce 59.87% | 92,200 | 7.53 | ≡ | HPQ - HP Inc. | Reduce 59.80% | 53,100 | 7.75 | ≡ | VZ - Verizon Communications | Reduce 59.60% | 75,400 | 7.64 | ≡ | HST - Host Hotels & Resorts | Reduce 57.54% | 164,000 | 6.87 | ≡ | AET - Aetna Inc. | Reduce 57.41% | 62,000 | 7.06 | ≡ | T - AT&T Inc. | Reduce 54.21% | 65,600 | 5.78 | ≡ | LRCX - Lam Research | Reduce 52.57% | 59,400 | 5.91 | ≡ | GS - Goldman Sachs Group | Reduce 51.75% | 11,800 | 4.76 | ≡ | RIG - Transocean Ltd. | Reduce 51.52% | 13,600 | 4.72 | ≡ | GE - GE Aerospace | Reduce 48.55% | 8,163 | 5.26 | ≡ | AKAM - Akamai Technologies Inc. | Reduce 48.40% | 59,100 | 3.26 | ≡ | BA - Boeing Co. | Reduce 47.41% | 27,500 | 4.98 | ≡ | DHI - D.R. Horton | Sell 100.00% | 289,000 | 4.42 | ≡ | WFM - Whole Foods Market | Sell 100.00% | 308,000 | 5.14 |
| Q2 2008 | ≡ | GS - Goldman Sachs Group | Add 3.64% | 800 | 0.20 | ≡ | LRCX - Lam Research | Add 3.67% | 4,000 | 0.20 | ≡ | BA - Boeing Co. | Add 16.00% | 8,000 | 0.74 | ≡ | HST - Host Hotels & Resorts | Add 25.55% | 58,000 | 1.12 | ≡ | AET - Aetna Inc. | Add 25.58% | 22,000 | 1.26 | ≡ | C - Citigroup Inc. | Add 41.03% | 6,313 | 1.49 | ≡ | WFM - Whole Foods Market | Add 46.67% | 98,000 | 1.64 | ≡ | RIG - Transocean Ltd. | Buy | 26,400 | 5.67 | ≡ | AKAM - Akamai Technologies Inc. | Reduce 30.63% | 53,900 | 2.64 | ≡ | HPQ - HP Inc. | Reduce 19.27% | 21,200 | 1.32 | ≡ | XOM - Exxon Mobil Corp. | Reduce 8.33% | 5,000 | 0.62 | ≡ | ALD - Allied Capital Corp. | Sell 100.00% | 199,798 | 4.38 | ≡ | MOT - Motorola Inc. | Sell 100.00% | 423,000 | 4.67 | ≡ | FDX - FedEx Corp. | Sell 100.00% | 43,500 | 4.79 |
| Q1 2008 | ≡ | MOT - Motorola Inc. | Add 60.84% | 160,000 | 1.77 | ≡ | DHI - D.R. Horton | Reduce 34.62% | 153,000 | 2.86 | ≡ | AET - Aetna Inc. | Reduce 13.13% | 13,000 | 0.65 |
| Q4 2007 | ≡ | DHI - D.R. Horton | Add 14.81% | 57,000 | 0.78 | ≡ | ALD - Allied Capital Corp. | Add 28.49% | 44,298 | 0.99 | ≡ | C - Citigroup Inc. | Add 37.38% | 4,187 | 1.28 | ≡ | LRCX - Lam Research | Buy | 109,000 | 4.91 | ≡ | GR - Goodrich Corp. | Sell 100.00% | 85,000 | 5.67 |
| Q3 2007 | ≡ | C - Citigroup Inc. | Add 25.13% | 2,249 | 1.03 | ≡ | HD - Home Depot | Add 28.33% | 34,000 | 1.08 | ≡ | HST - Host Hotels & Resorts | Add 29.71% | 52,000 | 1.14 | ≡ | DHI - D.R. Horton | Add 92.02% | 184,500 | 2.31 | ≡ | JPM - JPMorgan Chase & Co. | Buy | 102,866 | 4.60 | ≡ | AKAM - Akamai Technologies Inc. | Buy | 176,000 | 4.94 | ≡ | LH - Laboratory Corp. of America Hldgs | Sell 100.00% | 60,000 | 4.91 | ≡ | EMC - EMC Corp. | Sell 100.00% | 311,000 | 5.88 |
| Q2 2007 | ≡ | GR - Goodrich Corp. | Reduce 15.00% | 15,000 | 0.93 | ≡ | LH - Laboratory Corp. of America Hldgs | Reduce 14.29% | 10,000 | 0.82 | ≡ | EMC - EMC Corp. | Reduce 13.61% | 49,000 | 0.93 | ≡ | HPQ - HP Inc. | Reduce 12.00% | 15,000 | 0.70 | ≡ | AET - Aetna Inc. | Reduce 10.00% | 11,000 | 0.57 | ≡ | GS - Goldman Sachs Group | Reduce 8.33% | 2,000 | 0.45 | ≡ | DHI - D.R. Horton | Reduce 7.93% | 17,280 | 0.36 | ≡ | MOT - Motorola Inc. | Reduce 7.72% | 22,000 | 0.41 | ≡ | HD - Home Depot | Reduce 7.69% | 10,000 | 0.41 | ≡ | ALD - Allied Capital Corp. | Reduce 5.76% | 9,510 | 0.31 | ≡ | DD-OLD - Du Pont (E.I.) OLD | Reduce 5.00% | 5,000 | 0.27 | ≡ | GE - GE Aerospace | Reduce 3.34% | 582 | 0.19 | ≡ | FDX - FedEx Corp. | Reduce 3.33% | 1,500 | 0.17 | ≡ | T - AT&T Inc. | Reduce 3.20% | 4,000 | 0.17 | ≡ | HST - Host Hotels & Resorts | Reduce 2.78% | 5,000 | 0.12 | ≡ | VZ - Verizon Communications | Reduce 2.69% | 3,500 | 0.15 |
| Q1 2007 | ≡ | DD-OLD - Du Pont (E.I.) OLD | Add 5.26% | 5,000 | 0.25 | ≡ | C - Citigroup Inc. | Add 5.31% | 451 | 0.24 | ≡ | EMC - EMC Corp. | Add 5.88% | 20,000 | 0.29 | ≡ | LH - Laboratory Corp. of America Hldgs | Add 7.69% | 5,000 | 0.37 | ≡ | VZ - Verizon Communications | Add 8.33% | 10,000 | 0.39 | ≡ | HPQ - HP Inc. | Add 8.70% | 10,000 | 0.41 | ≡ | AET - Aetna Inc. | Add 10.00% | 10,000 | 0.45 | ≡ | FDX - FedEx Corp. | Add 12.50% | 5,000 | 0.55 | ≡ | HD - Home Depot | Add 13.04% | 15,000 | 0.57 | ≡ | GE - GE Aerospace | Add 21.00% | 3,018 | 0.88 | ≡ | ALD - Allied Capital Corp. | Add 26.93% | 35,010 | 1.04 | ≡ | DHI - D.R. Horton | Add 31.99% | 52,780 | 1.20 | ≡ | MOT - Motorola Inc. | Add 46.15% | 90,000 | 1.64 | ≡ | WFM - Whole Foods Market | Add 50.00% | 70,000 | 1.62 | ≡ | GS - Goldman Sachs Group | Buy | 24,000 | 5.12 | ≡ | HST - Host Hotels & Resorts | Reduce 5.26% | 10,000 | 0.27 | ≡ | XOM - Exxon Mobil Corp. | Reduce 0.50% | 300 | 0.02 | ≡ | AEP - American Electric Power | Sell 100.00% | 105,000 | 5.05 |