Hillman Value Fund

History Stock Activity Share change % change to portfolio
Q3  2008
HST - Host Hotels & Resorts Reduce 57.54% 164,000 6.87
VZ - Verizon Communications Reduce 59.60% 75,400 7.64
HPQ - HP Inc. Reduce 59.80% 53,100 7.75
HD - Home Depot Reduce 59.87% 92,200 7.53
JPM - JPMorgan Chase & Co. Reduce 60.73% 62,466 9.20
C - Citigroup Inc. Reduce 61.38% 13,320 8.62
XOM - Exxon Mobil Corp. Reduce 62.00% 34,100 8.35
DD-OLD - Du Pont (E.I.) OLD Reduce 62.42% 59,300 7.54
WFM - Whole Foods Market Sell 100.00% 308,000 5.14
DHI - D.R. Horton Sell 100.00% 289,000 4.42
Q2  2008
XOM - Exxon Mobil Corp. Reduce 8.33% 5,000 0.62
HPQ - HP Inc. Reduce 19.27% 21,200 1.32
AKAM - Akamai Technologies Inc. Reduce 30.63% 53,900 2.64
FDX - FedEx Corp. Sell 100.00% 43,500 4.79
MOT - Motorola Inc. Sell 100.00% 423,000 4.67
ALD - Allied Capital Corp. Sell 100.00% 199,798 4.38
Q1  2008
AET - Aetna Inc. Reduce 13.13% 13,000 0.65
DHI - D.R. Horton Reduce 34.62% 153,000 2.86
Q4  2007
GR - Goodrich Corp. Sell 100.00% 85,000 5.67
Q3  2007
EMC - EMC Corp. Sell 100.00% 311,000 5.88
LH - Labcorp Holdings Inc. Sell 100.00% 60,000 4.91
Q2  2007
VZ - Verizon Communications Reduce 2.69% 3,500 0.15
HST - Host Hotels & Resorts Reduce 2.78% 5,000 0.12
T - AT&T Inc. Reduce 3.20% 4,000 0.17
FDX - FedEx Corp. Reduce 3.33% 1,500 0.17
GE - GE Aerospace Reduce 3.34% 582 0.19
DD-OLD - Du Pont (E.I.) OLD Reduce 5.00% 5,000 0.27
ALD - Allied Capital Corp. Reduce 5.76% 9,510 0.31
HD - Home Depot Reduce 7.69% 10,000 0.41
MOT - Motorola Inc. Reduce 7.72% 22,000 0.41
DHI - D.R. Horton Reduce 7.93% 17,280 0.36
GS - Goldman Sachs Group Reduce 8.33% 2,000 0.45
AET - Aetna Inc. Reduce 10.00% 11,000 0.57
HPQ - HP Inc. Reduce 12.00% 15,000 0.70
EMC - EMC Corp. Reduce 13.61% 49,000 0.93
LH - Labcorp Holdings Inc. Reduce 14.29% 10,000 0.82
GR - Goodrich Corp. Reduce 15.00% 15,000 0.93
Q1  2007
XOM - Exxon Mobil Corp. Reduce 0.50% 300 0.02
HST - Host Hotels & Resorts Reduce 5.26% 10,000 0.27
AEP - American Electric Power Sell 100.00% 105,000 5.05