HCMAX — Hillman Value Fund
Data updated: 2026-08-26
HCMAX — Hillman Value Fund. United States Multi-Cap / All-Cap Value Equity · $78.38M AUM · 0.95% expense ratio. Holdings, fees, performance and SEC filings.
HCMAX Fund Overview
HCMAX — Hillman Value Fund is a US mutual fund managed by ALPS Series Trust, categorised as United States Multi-Cap / All-Cap Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: ALPS Series Trust
- Category: United States Multi-Cap / All-Cap Value Equity
- Assets under management: $78.38M
- 1-year return: 12.4%
- Ticker: HCMAX
- SEC CIK: 0001558107
- SEC series ID: S000070920
- Share class ID: C000225205
HCMAX Holdings
Top 10 holdings of Hillman Value Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| West Pharmaceutical Services Inc | 3.25% |
| Veeva Systems Inc | 3.17% |
| Cvs Health Corp | 3.10% |
| Baxter International Inc | 3.08% |
| United Parcel Service Inc | 3.06% |
| Warner Bros Discovery Inc | 2.98% |
| Dupont De Nemours Inc | 2.96% |
| Taiwan Semiconductor Manufacturing Co Ltd | 2.92% |
| Kraft Heinz Co/the | 2.87% |
| Unitedhealth Group Inc | 2.86% |
HCMAX Portfolio Allocation
Asset-class allocation of Hillman Value Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 96.4% |
| Cash & Equivalents | 3.5% |
HCMAX Performance
Total returns for HCMAX (as of 2026-09-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 4.2% |
| 1 year | 12.4% |
| 3 years (annualised) | 9.4% |
| 5 years (annualised) | 6.0% |
HCMAX Risk Information
Risk metrics for HCMAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 11.6%
HCMAX Costs and Fees
HCMAX costs about $95 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.95%
- Gross expense ratio: 1.03%
- Portfolio turnover: 42%
- Brokerage commissions: 3.17 bps of average net assets (SEC N-CEN)
HCMAX Cashflows
Over the 12 months to 2026-06, Hillman Value Fund had net outflows of $38.60M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$3.36M |
| 2026-05 | −$2.66M |
| 2026-04 | −$3.25M |
| 2026-03 | −$1.34M |
| 2026-02 | −$2.86M |
| 2026-01 | −$5.31M |
HCMAX Debt Constituents
No individual debt constituents are reported in Hillman Value Fund's latest SEC N-PORT filing.
HCMAX Prospectus and SEC Filings
Official Hillman Value Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-01-28
- Prospectus (485BPOS) — filed 2025-01-28
- Prospectus (485BPOS) — filed 2024-01-26
- Portfolio holdings (N-PORT) — filed 2026-08-26
- Portfolio holdings (N-PORT) — filed 2026-05-29
- Portfolio holdings (N-PORT) — filed 2026-02-20
- Annual census (N-CEN) — filed 2025-12-10
- Annual census (N-CEN) — filed 2024-12-16
Related Funds
Other United States Multi-Cap / All-Cap Value Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.