DFX Intelligence

RIA Intelligence

Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.

SEC-registered adviser

Hillman Capital Management Inc

Wealth manager with institutional or fund businessBethesda, MarylandCRD 110096SEC 801-57921website IAPD

Latest filing Mar 11, 2026

First filing on the tape Jan 6, 2012 · 33 filings

SEC status approved since Sep 12, 2000

RAUM

$196M

reported, Item 5.F

Discretionary

100%

of RAUM

Private clients

47%

$92.4M individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

$196M

derived; firm RAUM over IAPD count

Employees

2 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

33 filings and snapshots on the tape

RAUM$196M as of Mar 11, 2026

Mar 26, 2012$148M then

HNW client RAUM$67.4M as of Mar 11, 2026

Mar 28, 2018$44.4M then

State-registered IARs (5.B.3)2 as of Mar 11, 2026

Mar 28, 20134 then

Employees (5.A)7 as of Mar 11, 2026

Mar 28, 20135 then

Private funds1 as of Mar 30, 2022

Mar 30, 20171 then

RAUM -36% over the last fiscal year-11% a year over threeIARs 2 to 2

Practice profile

derived from the filing of Mar 11, 2026; every figure names its basis

Archetypes, each a printed rule

Dual wealth and asset manager · private-client share 20 to 60 percent and fund or institutional share at least 30 percent
Solo or small team · one advisor, or a wealth manager with up to three advisors and one office

RAUM per advisor: $196MderivedRAUM over IAPD advisors; not a book size
Clients per advisor: 178derivedindividual and HNW clients (5.D) over advisors
Average HNW client: $1.1MderivedHNW RAUM over HNW clients
Average account: $1.1MderivedRAUM over accounts (5.F.2.f)
Discretionary: 100%derivedof RAUM
Institutional: 1.4%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: 7.0derivedItem 5.A over advisors
Advisors per office: 1.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year: -36%derivedbetween the last two annual amendments
Advisor growth, one year: +0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year: +9.2%derived
Compensation: percentage of assetsreportedItem 5.E
Advisory activities: portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for investment companies, otherreportedItem 5.G
Wrap fee program: participatesreportedItem 5.I
Ownership: no PE, bank or public-company owner found on Schedule Aderived
Advisor book size: not public; not estimatedreported

Also answered yes on Form ADV

buys or sells securities as principal to or from clients (8.A.2)
has discretionary authority over which securities are bought or sold (8.C.1)
receives research or other products from a broker-dealer, soft dollars (8.E)

Where the RAUM sits

Form ADV Item 5.D, latest filing

Investment companies$93.5M48%
High-net-worth individuals$67.4M34%
Individuals$24.9M13%
Corporations and businesses$7.3M3.7%
Pension and profit-sharing plans$2.8M1.4%

Individual clients: 117reported
HNW clients: 61reported
Pension plan clients: 3reported
Charitable clients: n/areported
Accounts: 185reported
Financial planning clients: 0reported
Wrap fee programs: $0 sponsored, $0 managedreported
Custody of client assets: noreported
Compensation: % of AUMreported
Class basis: private_client_share=0.47 fund_share=0.48 institutional_share=0.01 related_bd=false related_bank=false bd_reps=1.0derived

Advisors registered through the firm

1 on IAPD today, longest tenure first

Name	Branch	Here since	In industry	Prior firms
Mark Alan Hillman	Bethesda, Md	Sep 16, 1999	39 y	0

Advisor movement

0 left, 0 joined in 12 months

net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount2 left over 36 months

Left, latest

Anthony Henry Cortina to Farther
Sep 23, 2024 · RIA to RIA
Peter William Beebe to Channel Investment Partners
Jun 12, 2024 · Other
Fletcher Driggs Perkins to Wells Fargo Advisors
Jul 19, 2013 · Other
Robert Joseph Basil Kotler to Financial Telesis, Inc.
May 31, 2012 · Other
Peter Dominic Demartino to The Mutual Fund Store
Nov 19, 2007 · Other

Joined, latest

Anthony Henry Cortina from Wolf Group Capital Advisors
Jun 11, 2024 · RIA to RIA
Peter William Beebe from Amg Distributors, Inc.
Sep 16, 2021 · Other
Robert Joseph Basil Kotler from Bb&T Investment Services, Inc.
Mar 23, 2007 · Other
Peter Dominic Demartino from Strategic Advisers LLC
Mar 29, 2006 · Other

Every departure Every arrival

Private funds

1 reported on Schedule D 7.B.(1)

Fund	Type	Gross assets	Owners	First reported
Hillman Long Short Fund, LPno longer reported	Hedge Fund	$6.8M	6	Mar 30, 2017

Owners and control persons

Schedule A and B, latest filing

Alan Mark Hillman · Ceo And Ciocontrol
since 02/1998 · owns 50% to 75%
Thomas Jeff Long · Director, Operations & Systemscontrol
since 07/2024 · owns 5% to 10%
Bagaporo Melba Quizon · Shareholdercontrol
since 02/1998 · owns 50% to 75%
Franklin Cyrus Watson · Chief Compliance Officercontrol
since 04/2006 · owns less than 5%

Related persons

Schedule D 7.A

No related person reported.

Office movement

IAPD branch city; joins and departures in 12 months

Office	Advisors	Joined	Left	Teams out	Forming
Bethesda, Md · principal	1	0	0

Offices

Schedule D 1.F, the 25 largest

No branch office listed.

ADV anomalies

2 against comparable advisers; where to look, not conclusions

client mix shiftChange between filings · filing Mar 11, 2026
private-client share of RAUM moved from 29.0% to 47.0% between the annual amendments of 2025-03-28 and 2026-03-11
peers: independent wealth managers, $100M to $500M (5,676)
RAUM down 25 %Change between filings · filing Mar 11, 2026
RAUM (Item 5.F) moved from $308,016,202 to $195,890,357 (-36.0%) between the annual amendments of 2025-03-28 and 2026-03-11; the peer median change was +15.0% (4551 comparable advisers, 1.0th percentile of changes)
peers: independent wealth managers, $100M to $500M (4,551) · 1.0% percentile

How anomalies are measured

What changed

consecutive filings, newest first

Accounts · 170 to 185
Nov 24, 2025 to Mar 11, 2026
Advisory employees · 3 to 2
Nov 24, 2025 to Mar 11, 2026
Charity clients · 0.0 to unset
Nov 24, 2025 to Mar 11, 2026
Corporate clients · 4 to 3
Nov 24, 2025 to Mar 11, 2026
HNW clients · 64 to 61
Nov 24, 2025 to Mar 11, 2026
Individual clients · 99 to 117
Nov 24, 2025 to Mar 11, 2026
Pooled vehicle clients · 0.0 to unset
Nov 24, 2025 to Mar 11, 2026
Discretionary RAUM · $308M to $196M
Nov 24, 2025 to Mar 11, 2026
HNW RAUM · $68.8M to $67.4M
Nov 24, 2025 to Mar 11, 2026
Individual RAUM · $19.8M to $24.9M
Nov 24, 2025 to Mar 11, 2026
Pension RAUM · $1.7M to $2.8M
Nov 24, 2025 to Mar 11, 2026
RAUM · $308M to $196M
Nov 24, 2025 to Mar 11, 2026
Financial planning clients · 0 to 0
Mar 28, 2025 to Nov 24, 2025
Accounts · 178 to 170
Sep 23, 2024 to Mar 28, 2025
Charity clients · unset to 0.0
Sep 23, 2024 to Mar 28, 2025
Corporate clients · 3 to 4
Sep 23, 2024 to Mar 28, 2025
HNW clients · 66 to 64
Sep 23, 2024 to Mar 28, 2025
Individual clients · 105 to 99
Sep 23, 2024 to Mar 28, 2025
Pooled vehicle clients · unset to 0.0
Sep 23, 2024 to Mar 28, 2025
State-registered IARs · 3 to 2
Sep 23, 2024 to Mar 28, 2025
Discretionary RAUM · $329M to $308M
Sep 23, 2024 to Mar 28, 2025
HNW RAUM · $68.0M to $68.8M
Sep 23, 2024 to Mar 28, 2025
Individual RAUM · $19.4M to $19.8M
Sep 23, 2024 to Mar 28, 2025
Pension RAUM · $1.1M to $1.7M
Sep 23, 2024 to Mar 28, 2025
RAUM · $329M to $308M
Sep 23, 2024 to Mar 28, 2025
Accounts · 177 to 178
Mar 28, 2023 to Mar 15, 2024
HNW clients · 69 to 66
Mar 28, 2023 to Mar 15, 2024
Individual clients · 100 to 105
Mar 28, 2023 to Mar 15, 2024
Discretionary RAUM · $278M to $329M
Mar 28, 2023 to Mar 15, 2024
HNW RAUM · $62.3M to $68.0M
Mar 28, 2023 to Mar 15, 2024
Individual RAUM · $14.9M to $19.4M
Mar 28, 2023 to Mar 15, 2024
Pension RAUM · $713,260 to $1.1M
Mar 28, 2023 to Mar 15, 2024
RAUM · $278M to $329M
Mar 28, 2023 to Mar 15, 2024
Accounts · 176 to 177
Jul 25, 2022 to Mar 28, 2023
Advisory activities · 5 to 4
Jul 25, 2022 to Mar 28, 2023
BD registered reps · 0 to 1
Jul 25, 2022 to Mar 28, 2023
Corporate clients · 2 to 3
Jul 25, 2022 to Mar 28, 2023
HNW clients · 59 to 69
Jul 25, 2022 to Mar 28, 2023
Individual clients · 110 to 100
Jul 25, 2022 to Mar 28, 2023
Pension plan clients · 2 to 3
Jul 25, 2022 to Mar 28, 2023

Signals

8 dated events

Hillman Capital Management Inc reported RAUM $195.9M, down 36% from $308.0M (2025-11-24 to 2026-03-11)
Mar 11, 2026 · RAUM change · derived
Anthony Henry Cortina left Hillman Capital Management Inc for Farther (registered 2024-10-02)
Sep 23, 2024 · Advisor changed firm · fact
William Peter Beebe (President) no longer on Schedule A of Hillman Capital Management Inc (listed 2024-03-15, absent 2024-08-28)
Aug 28, 2024 · Control person left · inference
Thomas Jeff Long (Director, Operations & Systems) appeared on Schedule A of Hillman Capital Management Inc
Aug 28, 2024 · Control person joined · fact
Peter William Beebe left Hillman Capital Management Inc for Channel Investment Partners (registered 2025-05-14)
Jun 12, 2024 · Advisor changed firm · fact
Hillman Capital Management Inc reported RAUM $327.2M, up 56% from $209.2M (2021-07-23 to 2022-03-30)
Mar 30, 2022 · RAUM change · derived
Bagaporo Melba Quizon (Shareholder) appeared on Schedule A of Hillman Capital Management Inc
Aug 22, 2019 · Control person joined · fact
William Peter Beebe (President) appeared on Schedule A of Hillman Capital Management Inc
Mar 28, 2019 · Control person joined · fact

Across DFX

shared identifiers only, never a name match

No identifier-backed link to the venture, private equity, family office or sponsor graphs.

How to reach

public business contact points only, each with its source

Business phone: 240-743-2499reportedpublished by the firm, firm site, Sep 16, 2026
Business phone: 240-744-4500reportedpublished by the firm, firm site, Sep 16, 2026
Business phone: 617-869-9459reportedpublished by the firm, firm site, Sep 16, 2026
Firm profile: linkedin.com/company/hillman-capital-management-inc.reportedpublic record, Form ADV, Sep 17, 2026
Website: HCMFUNDS.COMreportedpublic record, Form ADV, Sep 17, 2026
Principal office phone: 240-744-4500reportedpublic record, Form ADV, Mar 11, 2026

Provenance

Form ADV: SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
Advisors: IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
Class: Wealth manager with institutional or fund businessderiveda rule over Items 5.D and 7.A
RAUM per advisor: $196Mderivedfirm RAUM over the IAPD count; not a book size
Loaded: Sep 14, 2026