Hillman Capital Management Investment Trust NPX Annual report of proxy voting record

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF

REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-10085

Hillman Capital Management Investment Trust
(Exact name of registrant as specified in charter)

116 South Franklin Street, Rocky Mount, North Carolina 27804

(Address of principal executive offices) (Zip code)

Paracorp Inc.

2140 South Dupont Hwy., Camden, DE 19934

(Name and address of agent for service)

Registrant's telephone number, including area code: 252-972-9922

Date of fiscal year end: Sept 30

Date of reporting period: July 1, 2019 - June 30, 2020

HILLMAN VALUE FUND

Vote Summary

THE KRAFT HEINZ COMPANY

Security

500754106

Meeting Type

Annual

Ticker Symbol

KHC

Meeting Date

12-Sep-2019

Record Date

15-Jul-2019

Item

Proposal

Type

Vote

Mgt. Rec

1a.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

1b.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

1c.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

1d.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

1e.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

1f.

Election of Directors (Majority Voting)

Management

For

1g.

Election of Directors (Majority Voting)

Management

For

1h.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

1i.

Election of Directors (Majority Voting)

Management

For

1j.

Election of Directors (Majority Voting)

Management

For

1k.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

14A Executive Compensation

Management

For

Ratify Appointment of Independent Auditors

Management

For

S/H Proposal - Health Issues

Shareholder

Against

S/H Proposal - Environmental

Shareholder

Against

GENERAL MILLS, INC.

Security

370334104

Meeting Type

Annual

Ticker Symbol

GIS

Meeting Date

24-Sep-2019

Record Date

26-Jul-2019

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

1E.

Election of Directors (Majority Voting)

Management

For

1F.

Election of Directors (Majority Voting)

Management

For

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

1J.

Election of Directors (Majority Voting)

Management

For

1K.

Election of Directors (Majority Voting)

Management

For

14A Executive Compensation

Management

For

Ratify Appointment of Independent Auditors

Management

For

LAM RESEARCH CORPORATION

Security

512807108

Meeting Type

Annual

Ticker Symbol

LRCX

Meeting Date

05-Nov-2019

Record Date

06-Sep-2019

Item

Proposal

Type

Vote

Mgt. Rec

Election of Directors

Management

Sohail U. Ahmed

For

Timothy M. Archer

For

Eric K. Brandt

For

Michael R. Cannon

For

Youssef A. El-Mansy

For

Catherine P. Lego

For

Bethany J. Mayer

For

Abhijit Y. Talwalkar

For

Lih Shyng (Rick L) Tsai

For

Leslie F. Varon

For

14A Executive Compensation

Management

For

Ratify Appointment of Independent Auditors

Management

For

MICROSOFT CORPORATION

Security

594918104

Meeting Type

Annual

Ticker Symbol

MSFT

Meeting Date

04-Dec-2019

Record Date

08-Oct-2019

Item

Proposal

Type

Vote

Mtg. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

1E.

Election of Directors (Majority Voting)

Management

For

1F.

Election of Directors (Majority Voting)

Management

For

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

1J.

Election of Directors (Majority Voting)

Management

For

1K.

Election of Directors (Majority Voting)

Management

For

1L.

Election of Directors (Majority Voting)

Management

For

1M.

Election of Directors (Majority Voting)

Management

For

14A Executive Compensation

Management

For

Ratify Appointment of Independent Auditors

Management

For

S/H Proposal - Corporate Governance

Shareholder

Against

For

S/H Proposal - Gender Pay Equality

Shareholder

Against

For

MEDTRONIC PLC

Security

G5960L103

Meeting Type

Annual

Ticker Symbol

MDT

Meeting Date

06-Dec-2019

Record Date

10-Oct-2019

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

1E.

Election of Directors (Majority Voting)

Management

For

1F.

Election of Directors (Majority Voting)

Management

For

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

��

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

1J.

Election of Directors (Majority Voting)

Management

For

1K.

Election of Directors (Majority Voting)

Management

For

1L.

Election of Directors (Majority Voting)

Management

For

Ratify Appointment of Independent Auditors

Management

For

14A Executive Compensation

Management

For

Stock Issuance

Management

For

Eliminate Pre-Emptive Rights

Management

For

Authorize Directors to Repurchase Shares

Management

For

EMERSON ELECTRIC CO.

Security

291011104

Meeting Type

Annual

Ticker Symbol

EMR

Meeting Date

04-Feb-2020

Record Date

26-Nov-2019

Item

Proposal

Type

Vote

Mgt. Rec

Election of Directors

Management

M. S. Craighead

For

D. N. Farr

For

G. A. Flach

For

M. S. Levatich

For

Ratify Appointment of Independent Auditors

Management

For

14A Executive Compensation

Management

For

Declassify Board

Management

For

BANK OF AMERICA CORPORATION

Security

060505104

Meeting Type

Annual

Ticker Symbol

BAC

Meeting Date

22-Apr-2020

Record Date

02-Mar-2020

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

1E.

Election of Directors (Majority Voting)

Management

For

1F.

Election of Directors (Majority Voting)

Management

For

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

1J.

Election of Directors (Majority Voting)

Management

For

1K.

Election of Directors (Majority Voting)

Management

For

1L.

Election of Directors (Majority Voting)

Management

For

1M.

Election of Directors (Majority Voting)

Management

For

1N.

Election of Directors (Majority Voting)

Management

For

1O.

Election of Directors (Majority Voting)

Management

For

1P.

Election of Directors (Majority Voting)

Management

For

1Q.

Election of Directors (Majority Voting)

Management

For

14A Executive Compensation

Management

For

Ratify Appointment of Independent Auditors

Management

For

S/H Proposal - Corporate Governance

Shareholder

Against

S/H Proposal - Corporate Governance

Shareholder

Against

S/H Proposal - Create a Non-Discriminatory Sexual Orientation Policy

Shareholder

Against

S/H Proposal - Corporate Governance

Shareholder

Against

PFIZER INC.

Security

717081103

Meeting Type

Annual

Ticker Symbol

PFE

Meeting Date

23-Apr-2020

Record Date

25-Feb-2020

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

1E.

Election of Directors (Majority Voting)

Management

For

1F.

Election of Directors (Majority Voting)

Management

For

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

1J.

Election of Directors (Majority Voting)

Management

For

1K.

Election of Directors (Majority Voting)

Management

For

1L.

Election of Directors (Majority Voting)

Management

For

1M.

Election of Directors (Majority Voting)

Management

For

Ratify Appointment of Independent Auditors

Management

For

14A Executive Compensation

Management

For

S/H Proposal - Corporate Governance

Shareholder

Against

S/H Proposal - Shareholders be Given Access to Proxy

Shareholder

Against

S/H Proposal - Political/Government

Shareholder

Against

S/H Proposal - Establish Independent Chairman

Shareholder

Against

S/H Proposal - Gender Pay Gap

Shareholder

Against

Election of Directors (Majority Voting)

Management

For

AT&T INC.

Security

00206R102

Meeting Type

Annual

Ticker Symbol

Meeting Date

24-Apr-2020

Record Date

26-Feb-2020

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

1E.

Election of Directors (Majority Voting)

Management

For

1F.

Election of Directors (Majority Voting)

Management

For

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

1J.

Election of Directors (Majority Voting)

Management

For

1K.

Election of Directors (Majority Voting)

Management

For

1L.

Election of Directors (Majority Voting)

Management

For

1M.

Election of Directors (Majority Voting)

Management

For

Ratify Appointment of Independent Auditors

Management

For

14A Executive Compensation

Management

For

S/H Proposal - Establish Independent Chairman

Shareholder

Against

S/H Proposal - Corporate Governance

Shareholder

Against

S/H Proposal - Corporate Governance

Shareholder

Against

KELLOGG COMPANY

Security

487836108

Meeting Type

Annual

Ticker Symbol

Meeting Date

24-Apr-2020

Record Date

28-Feb-2020

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

14A Executive Compensation

Management

For

Ratify Appointment of Independent Auditors

Management

For

Amend Employee Stock Purchase Plan

Management

For

Declassify Board

Management

For

S/H Proposal - Election of Directors By Majority Vote

Shareholder

For

Against

Comments: Supermajority vote requirements can act as impediments to takeover proposals and impede shareholders' ability to approve ballot items that are in their interests

WELLS FARGO & COMPANY

Security

949746101

Meeting Type

Annual

Ticker Symbol

WFC

Meeting Date

28-Apr-2020

Record Date

28-Feb-2020

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

1E.

Election of Directors (Majority Voting)

Management

For

1F.

Election of Directors (Majority Voting)

Management

For

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

1J.

Election of Directors (Majority Voting)

Management

For

1K.

Election of Directors (Majority Voting)

Management

For

1L.

Election of Directors (Majority Voting)

Management

For

14A Executive Compensation

Management

For

Ratify Appointment of Independent Auditors

Management

For

S/H Proposal - Corporate Governance

Shareholder

Against

S/H Proposal - Increase Disclosure of Executive Compensation

Shareholder

Against

S/H Proposal - Create a Non-Discriminatory Sexual Orientation Policy

Shareholder

Against

ANHEUSER-BUSCH INBEV SA

Security

03524A108

Meeting Type

Annual

Ticker Symbol

BUD

Meeting Date

29-Apr-2020

Record Date

20-Mar-2020

Item

Proposal

Type

Vote

Mgt. Rec

Approve Article Amendments

Management

For

Approve Article Amendments

Management

For

Approve Article Amendments

Management

For

Receive Consolidated Financial Statements

Management

For

Director Removal Without Cause

Management

For

Director Removal Without Cause

Management

For

Election of Directors (Majority Voting)

Management

For

Election of Directors (Majority Voting)

Management

For

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

Approve Remuneration of Directors and Auditors

Management

Against

For

Comments: LTI awards are not performance based; Poor overall compensation disclosure; Poor response to prior year dissent

Miscellaneous Corporate Actions

Management

For

THE GOLDMAN SACHS GROUP, INC.

Security

38141G104

Meeting Type

Annual

Ticker Symbol

Meeting Date

30-Apr-2020

Record Date

02-Mar-2020

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

1E.

Election of Directors (Majority Voting)

Management

For

1F.

Election of Directors (Majority Voting)

Management

For

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

1J.

Election of Directors (Majority Voting)

Management

For

1K.

Election of Directors (Majority Voting)

Management

For

14A Executive Compensation

Management

For

Ratify Appointment of Independent Auditors

Management

For

S/H Proposal - Corporate Governance

Shareholder

For

Against

Comments: Shareholder action by written consent enables shareholders to take action on important issues that arise between annual meetings

S/H Proposal - Corporate Governance

Shareholder

Against

BRISTOL-MYERS SQUIBB COMPANY

Security

110122108

Meeting Type

Annual

Ticker Symbol

BMY

Meeting Date

05-May-2020

Record Date

16-Mar-2020

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

1E.

Election of Directors (Majority Voting)

Management

For

1F.

Election of Directors (Majority Voting)

Management

For

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

1J.

Election of Directors (Majority Voting)

Management

For

1K.

Election of Directors (Majority Voting)

Management

For

1L.

Election of Directors (Majority Voting)

Management

For

14A Executive Compensation

Management

For

Ratify Appointment of Independent Auditors

Management

For

S/H Proposal - Separate Chairman/Coe

Shareholder

Against

S/H Proposal - Corporate Governance

Shareholder

For

Against

Comments: Shareholder action by written consent enables shareholders to take action on important issues that arise between annual meetings

VERIZON COMMUNICATIONS INC.

Security

92343V104

Meeting Type

Annual

Ticker Symbol

Meeting Date

07-May-2020

Record Date

09-Mar-2020

Item

Proposal

Type

Vote

Mgt. Rec

1a.

Election of Directors (Majority Voting)

Management

For

1b.

Election of Directors (Majority Voting)

Management

For

1c.

Election of Directors (Majority Voting)

Management

For

1d.

Election of Directors (Majority Voting)

Management

For

1e.

Election of Directors (Majority Voting)

Management

For

1f.

Election of Directors (Majority Voting)

Management

For

1g.

Election of Directors (Majority Voting)

Management

For

1h.

Election of Directors (Majority Voting)

Management

For

1i.

Election of Directors (Majority Voting)

Management

For

14A Executive Compensation

Management

For

Ratify Appointment of Independent Auditors

Management

For

S/H Proposal - Corporate Governance

Shareholder

Against

S/H Proposal - Corporate Governance

Shareholder

For

Against

Comments: A 10% threshold for calling a special meeting is appropriate

S/H Proposal - Political/Government

Shareholder

Against

S/H Proposal - Corporate Governance

Shareholder

Against

S/H Proposal - Corporate Governance

Shareholder

Against

THE KRAFT HEINZ COMPANY

Security

500754106

Meeting Type

Annual

Ticker Symbol

KHC

Meeting Date

07-May-2020

Record Date

09-Mar-2020

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

1B.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

1C.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

1D.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

1E.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

1F.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

1J.

Election of Directors (Majority Voting)

Management

For

1K.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

14A Executive Compensation

Management

Against

For

Comments: Concerning pay practices

Adopt Omnibus Stock Option Plan

Management

For

Ratify Appointment of Independent Auditors

Management

For

S/H Proposal - Corporate Governance

Shareholder

For

Against

Comments: Supermajority vote requirements can act as impediments to shareholders being able to approve ballot items that are in their interests

SIMON PROPERTY GROUP, INC.

Security

828806109

Meeting Type

Annual

Ticker Symbol

SPG

Meeting Date

12-May-2020

Record Date

16-Mar-2020

Item

Proposal

Type

Vote

Mgt. Rec

1a.

Election of Directors (Majority Voting)

Management

For

1b.

Election of Directors (Majority Voting)

Management

For

1c.

Election of Directors (Majority Voting)

Management

For

1d.

Election of Directors (Majority Voting)

Management

For

1e.

Election of Directors (Majority Voting)

Management

For

1f.

Election of Directors (Majority Voting)

Management

For

1g.

Election of Directors (Majority Voting)

Management

For

1h.

Election of Directors (Majority Voting)

Management

For

1i.

Election of Directors (Majority Voting)

Management

For

1j.

Election of Directors (Majority Voting)

Management

For

14A Executive Compensation

Management

For

Ratify Appointment of Independent Auditors

Management

For

LABORATORY CORP. OF AMERICA HOLDINGS

Security

50540R409

Meeting Type

Annual

Ticker Symbol

Meeting Date

13-May-2020

Record Date

25-Mar-2020

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

1E.

Election of Directors (Majority Voting)

Management

For

1F.

Election of Directors (Majority Voting)

Management

For

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

14A Executive Compensation

Management

For

Ratify Appointment of Independent Auditors

Management

For

S/H Proposal - Corporate Governance

Shareholder

For

Against

Comments: A 10% threshold for calling a special meeting is appropriate

COMPASS MINERALS INTERNATIONAL, INC.

Security

20451N101

Meeting Type

Annual

Ticker Symbol

CMP

Meeting Date

14-May-2020

Record Date

16-Mar-2020

Item

Proposal

Type

Vote

Mgt. Rec

Eliminate Supermajority Requirements

Management

For

2A.

Election of Directors (Majority Voting)

Management

For

2B.

Election of Directors (Majority Voting)

Management

For

2C.

Election of Directors (Majority Voting)

Management

For

14A Executive Compensation

Management

Against

For

Comments: Pay and performance disconnect

Approve Stock Compensation Plan

Management

For

Ratify Appointment of Independent Auditors

Management

For

INTEL CORPORATION

Security

458140100

Meeting Type

Annual

Ticker Symbol

INTC

Meeting Date

14-May-2020

Record Date

16-Mar-2020

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

1E.

Election of Directors (Majority Voting)

Management

For

1F.

Election of Directors (Majority Voting)

Management

For

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

Ratify Appointment of Independent Auditors

Management

For

14A Executive Compensation

Management

For

Amend Employee Stock Purchase Plan

Management

For

S/H Proposal - Corporate Governance

Shareholder

Against

S/H Proposal - Create a Non-Discriminatory Sexual Orientation Policy

Shareholder

Against

CVS HEALTH CORPORATION

Security

126650100

Meeting Type

Annual

Ticker Symbol

CVS

Meeting Date

14-May-2020

Record Date

18-Mar-2020

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

1E.

Election of Directors (Majority Voting)

Management

For

1F.

Election of Directors (Majority Voting)

Management

For

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

1J.

Election of Directors (Majority Voting)

Management

For

1K.

Election of Directors (Majority Voting)

Management

For

1L.

Election of Directors (Majority Voting)

Management

For

1M.

Election of Directors (Majority Voting)

Management

For

Ratify Appointment of Independent Auditors

Management

For

14A Executive Compensation

Management

Against

For

Comments: Concerning pay practices

Approve Stock Compensation Plan

Management

For

Amend Employee Stock Purchase Plan

Management

For

S/H Proposal - Corporate Governance

Shareholder

For

Against

Comments: The Company's 25% ownership threshold is too high to provide shareholders with a meaningful right to action by written consent

S/H Proposal - Establish Independent Chairman

Shareholder

Against

NORDSTROM, INC.

Security

655664100

Meeting Type

Annual

Ticker Symbol

JWN

Meeting Date

20-May-2020

Record Date

11-Mar-2020

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

1E.

Election of Directors (Majority Voting)

Management

For

1F.

Election of Directors (Majority Voting)

Management

For

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

1J.

Election of Directors (Majority Voting)

Management

For

1K.

Election of Directors (Majority Voting)

Management

For

Ratify Appointment of Independent Auditors

Management

For

14A Executive Compensation

Management

For

Amend Stock Compensation Plan

Management

Against

For

Comments: Minimum equity overhang of all plans, including this proposal, as a percentage of outstanding common stock, is 23.70%.

Amend Employee Stock Purchase Plan

Management

For

PLAINS ALL AMERICAN PIPELINE, L.P.

Security

726503105

Meeting Type

Annual

Ticker Symbol

PAA

Meeting Date

20-May-2020

Record Date

23-Mar-2020

Item

Proposal

Type

Vote

Mgt. Rec

Election of Directors

Management

Alexandra Pruner

For

Lawrence Ziemba

For

Ratify Appointment of Independent Auditors

Management

For

14A Executive Compensation

Management

Against

For

Comments: Concerning pay practices

MCDONALD'S CORPORATION

Security

580135101

Meeting Type

Annual

Ticker Symbol

MCD

Meeting Date

21-May-2020

Record Date

23-Mar-2020

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

1E.

Election of Directors (Majority Voting)

Management

For

1F.

Election of Directors (Majority Voting)

Management

For

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

1J.

Election of Directors (Majority Voting)

Management

For

1K.

Election of Directors (Majority Voting)

Management

For

1L.

Election of Directors (Majority Voting)

Management

For

14A Executive Compensation

Management

Against

For

Comments: Former CEO's equity treatment upon separation

Ratify Appointment of Independent Auditors

Management

For

Amend Omnibus Stock Option Plan

Management

For

S/H Proposal - Corporate Governance

Shareholder

For

Against

Comments: A 15% threshold for calling a special meeting is appropriate

S/H Proposal - Environmental

Shareholder

Against

STERICYCLE, INC.

Security

858912108

Meeting Type

Annual

Ticker Symbol

SRCL

Meeting Date

22-May-2020

Record Date

27-Mar-2020

Item

Proposal

Type

Vote

Mgt. Rec

1a.

Election of Directors (Majority Voting)

Management

For

1b.

Election of Directors (Majority Voting)

Management

For

1c.

Election of Directors (Majority Voting)

Management

For

1d.

Election of Directors (Majority Voting)

Management

For

1e.

Election of Directors (Majority Voting)

Management

For

1f.

Election of Directors (Majority Voting)

Management

For

1g.

Election of Directors (Majority Voting)

Management

For

1h.

Election of Directors (Majority Voting)

Management

For

1i.

Election of Directors (Majority Voting)

Management

For

1j.

Election of Directors (Majority Voting)

Management

For

1k.

Election of Directors (Majority Voting)

Management

For

1l.

Election of Directors (Majority Voting)

Management

For

14A Executive Compensation

Management

For

Amend Employee Stock Purchase Plan

Management

For

Ratify Appointment of Independent Auditors

Management

For

S/H Proposal - Corporate Governance

Shareholder

For

Against

Comments: A 15% threshold for calling a special meeting is appropriate

S/H Proposal - Corporate Governance

Shareholder

For

Against

Comments: Expanding the Company's clawback policy could protect shareholder interests

MERCK & CO., INC.

Security

58933Y105

Meeting Type

Annual

Ticker Symbol

MRK

Meeting Date

26-May-2020

Record Date

27-Mar-2020

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

1E.

Election of Directors (Majority Voting)

Management

For

1F.

Election of Directors (Majority Voting)

Management

For

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

1J.

Election of Directors (Majority Voting)

Management

For

1K.

Election of Directors (Majority Voting)

Management

For

1L.

Election of Directors (Majority Voting)

Management

For

1M.

Election of Directors (Majority Voting)

Management

For

14A Executive Compensation

Management

For

Ratify Appointment of Independent Auditors

Management

For

S/H Proposal - Corporate Governance

Shareholder

Against

S/H Proposal - Corporate Governance

Shareholder

Against

EXXON MOBIL CORPORATION

Security

30231G102

Meeting Type

Annual

Ticker Symbol

XOM

Meeting Date

27-May-2020

Record Date

02-Apr-2020

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

1E.

Election of Directors (Majority Voting)

Management

For

1F.

Election of Directors (Majority Voting)

Management

For

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

1J.

Election of Directors (Majority Voting)

Management

For

Ratify Appointment of Independent Auditors

Management

For

14A Executive Compensation

Management

For

S/H Proposal - Establish Independent Chairman

Shareholder

Against

S/H Proposal - Corporate Governance

Shareholder

Against

S/H Proposal - Environmental

Shareholder

Against

S/H Proposal - Corporate Governance

Shareholder

For

Against

Comments: Additional disclosure concerning climate change-related risks is warranted

S/H Proposal - Political/Government

Shareholder

Against

S/H Proposal - Political/Government

Shareholder

Against

FACEBOOK, INC.

Security

30303M102

Meeting Type

Annual

Ticker Symbol

Meeting Date

27-May-2020

Record Date

03-Apr-2020

Item

Proposal

Type

Vote

Mgt. Rec

Election of Directors

Management

Peggy Alford

For

Marc L. Andreessen

For

Andrew W. Houston

For

Nancy Killefer

For

Robert M. Kimmitt

For

Sheryl K. Sandberg

For

Peter A. Thiel

For

Tracey T. Travis

For

Mark Zuckerberg

For

Ratify Appointment of Independent Auditors

Management

For

Miscellaneous Compensation Plans

Management

For

S/H Proposal - Corporate Governance

Shareholder

For

Against

Comments: Allowing one vote per share generally operates as a safeguard for common shareholders

S/H Proposal - Establish Independent Chairman

Shareholder

Against

S/H Proposal - Election of Directors By Majority Vote

Shareholder

For

Against

Comments: Majority voting increases board accountability and performance

S/H Proposal - Political/Government

Shareholder

For

Against

Comments: Additional disclosure concerning how the Company is managing political advertising is warranted

S/H Proposal - Human Rights Related

Shareholder

For

Against

Comments: Adoption of proposal would promote board independence and enhanced oversight of human rights

S/H Proposal - Human Rights Related

Shareholder

For

Against

Comments: Additional reporting concerning human rights-related oversight is warranted

10.

S/H Proposal - Corporate Governance

Shareholder

For

Against

Comments: Increased disclosure will provide shareholders assurance that the Company is managing associated risks as it grows its encrypted messaging services

11.

S/H Proposal - Corporate Governance

Shareholder

For

Against

Comments: Increased disclosure would allow shareholders to fully understand the steps the Company is taking to ensure equitable compensation

DUPONT DE NEMOURS INC

Security

26614N102

Meeting Type

Annual

Ticker Symbol

Meeting Date

27-May-2020

Record Date

06-Apr-2020

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

1E.

Election of Directors (Majority Voting)

Management

For

1F.

Election of Directors (Majority Voting)

Management

For

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

1J.

Election of Directors (Majority Voting)

Management

For

1K.

Election of Directors (Majority Voting)

Management

For

1L.

Election of Directors (Majority Voting)

Management

For

14A Executive Compensation

Management

For

Approve Stock Compensation Plan

Management

For

Ratify Appointment of Independent Auditors

Management

For

S/H Proposal - Corporate Governance

Shareholder

For

Against

Comments: A 10% threshold for calling a special meeting is appropriate

S/H Proposal - Corporate Governance

Shareholder

Against

AMAZON.COM, INC.

Security

023135106

Meeting Type

Annual

Ticker Symbol

AMZN

Meeting Date

27-May-2020

Record Date

02-Apr-2020

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

1E.

Election of Directors (Majority Voting)

Management

For

1F.

Election of Directors (Majority Voting)

Management

For

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

1J.

Election of Directors (Majority Voting)

Management

For

Ratify Appointment of Independent Auditors

Management

For

14A Executive Compensation

Management

For

Approve Charter Amendment

Management

Against

For

Comments: A 20% special meeting threshold as proposed in Proposal 14 is preferable to 25%

S/H Proposal - Adopt Conservation Policy

Shareholder

Against

S/H Proposal - Corporate Governance

Shareholder

For

Against

Comments: An assessment of the Company's customer due diligence could benefit shareholders

S/H Proposal - Corporate Governance

Shareholder

For

Against

Comments: Additional disclosure on the financial and operational risks associated with the use of Rekognition would benefit shareholders

S/H Proposal - Corporate Governance

Shareholder

For

Against

Comments: Additional disclosure on the Company's efforts to address hate speech and the sale of offensive products is warranted

S/H Proposal - Establish Independent Chairman

Shareholder

Against

10.

S/H Proposal - Create a Non-Discriminatory Sexual Orientation Policy

Shareholder

Against

11.

S/H Proposal - Corporate Governance

Shareholder

Against

12.

S/H Proposal - Create a Non-Discriminatory Sexual Orientation Policy

Shareholder

Against

13.

S/H Proposal - Corporate Governance

Shareholder

For

Against

Comments: Production of requested report would give shareholders critical information concerning the Company's management of diversity-related issues

14.

S/H Proposal - Corporate Governance

Shareholder

For

Against

Comments: A 20% special meeting threshold is preferable to the 25% proposed by the Company

15.

S/H Proposal - Corporate Governance

Shareholder

Against

16.

S/H Proposal - Political/Government

Shareholder

Against

BIOGEN INC.

Security

09062X103

Meeting Type

Annual

Ticker Symbol

BIIB

Meeting Date

03-Jun-2020

Record Date

06-Apr-2020

Item

Proposal

Type

Vote

Mgt. Rec

1A.

Election of Directors (Majority Voting)

Management

For

1B.

Election of Directors (Majority Voting)

Management

For

1C.

Election of Directors (Majority Voting)

Management

For

1D.

Election of Directors (Majority Voting)

Management

For

1E.

Election of Directors (Majority Voting)

Management

For

1F.

Election of Directors (Majority Voting)

Management

For

1G.

Election of Directors (Majority Voting)

Management

For

1H.

Election of Directors (Majority Voting)

Management

For

1I.

Election of Directors (Majority Voting)

Management

For

1J.

Election of Directors (Majority Voting)

Management

For

1K.

Election of Directors (Majority Voting)

Management

For

1L.

Election of Directors (Majority Voting)

Management

For

Ratify Appointment of Independent Auditors

Management

For

14A Executive Compensation

Management

For

ANHEUSER-BUSCH INBEV SA

Security

03524A108

Meeting Type

Annual

Ticker Symbol

BUD

Meeting Date

03-Jun-2020

Record Date

27-Apr-2020

Item

Proposal

Type

Vote

Mgt. Rec

Approve Article Amendments

Management

For

Approve Article Amendments

Management

For

Approve Article Amendments

Management

For

Ratify Appointment of Independent Auditors

Management

For

Director Removal Without Cause

Management

For

Miscellaneous Corporate Actions

Management

For

Election of Directors (Majority Voting)

Management

For

Election of Directors (Majority Voting)

Management

For

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

Election of Directors (Majority Voting)

Management

Against

For

Comments: Board is not majority independent.

Approve Remuneration of Directors and Auditors

Management

Against

For

Comments: LTI awards are not performance based; Poor overall compensation disclosure; Poor response to prior year dissent

Miscellaneous Corporate Actions

Management

For

SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Hillman Capital Management Investment Trust


	/s/ Mark A. Hillman
By:	Mark A. Hillman President and Principal Executive Officer

Date:	July 29, 2020

Hillman Capital Management Investment Trust N-PXAnnual report of proxy voting record