0001122649-20-000026.txt : 20201211 0001122649-20-000026.hdr.sgml : 20201211 20201211155432 ACCESSION NUMBER: 0001122649-20-000026 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20200930 FILED AS OF DATE: 20201211 DATE AS OF CHANGE: 20201211 EFFECTIVENESS DATE: 20201211 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HILLMAN CAPITAL MANAGEMENT INVESTMENT TRUST CENTRAL INDEX KEY: 0001122649 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-10085 FILM NUMBER: 201383556 BUSINESS ADDRESS: STREET 1: 116 SOUTH FRANKLIN STREET STREET 2: PO BOX 69 CITY: ROCKY MOUNT STATE: NC ZIP: 27802-0069 BUSINESS PHONE: 2529729922 MAIL ADDRESS: STREET 1: 116 SOUTH FRANKLIN STREET STREET 2: PO BOX 69 CITY: ROCKY MOUNT STATE: NC ZIP: 27802-0069 0001122649 S000010501 Hillman Value Fund C000028969 No Load Shares HCMAX N-CEN 1 primary_doc.xml X0303 N-CEN LIVE 0001122649 XXXXXXXX false false false N-1A S000010501 C000028969 HILLMAN CAPITAL MANAGEMENT INVESTMENT TRUST 811-10085 0001122649 549300CVX4HS8GLI7G09 116 South Franklin Street Rocky Mount 27804 US-NC US 2529729922 The Nottingham Company 116 South Franklin Street Rocky Mount 27804 252-972-9922 Records relating to services as Fund Accountant and Administrator UMB Bank, n.a. 928 Grand Boulevard 5th Floor Kansas City 64106 516-860-7780 Records relating to services as custodian Nottingham Shareholder Services, LLC 116 South Franklin Street P.O. Box 4365 Rocky Mount 27803-0365 252-984-3816 Records relating to services as Transfer Agent Hillman Capital Management, Inc. 7250 Woodmont Avenue Suite 310 Bethesda 20814 240-744-4500 Records relating to services as the Investment Advisor N N N N-1A 1 Y James H. Speed, Jr. N/A N Theophilus Harper Pitt, Jr. N/A N Mark A. Hillman N/A Y Matthew Baskir N/A 116 South Franklin Street Rocky Mount 27804 XXXXXX Y N N N N N N Capital Investment Group, Inc. 008-31225 000014752 N/A N N BBD, LLP 552 N/A N N N N N N N Hillman Value Fund S000010501 549300QSKB6BDSOCP555 N 1 0 0 N/A N N N N N/A N/A N N N/A N/A N/A Rule 32a-4 (17 CFR 270.32a-4) Y Y N N Hillman Capital Management, Inc. 801-57921 000110096 N/A N Nottingham Shareholder Services, LLC 084-05687 5493004B2XJ9BX8S5061 N N N Refinitiv Financial Solutions N/A N Bloomberg Data Professional N/A N Y UMB Bank, n.a. N/A N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Nottingham Shareholder Services, LLC 5493004B2XJ9BX8S5061 N N N The Nottingham Company 549300WSNC1UD33Z2P26 N N N Cowen & Co. LLC N/A N/A 549300WR155U7DVMIW58 84132 Goldman Sachs International N/A N/A W22LROWP2IHZNBB6K528 800 84932 UBS Securities LLC N/A N/A T6FIZBDPKLYJKFCRVK44 142611 142611 N 88970176 N N N N false false true false false false INTERNAL CONTROL RPT 2 NCENHillman.htm AUDITOR CONSENT
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
 
To the Board of Trustees of Hillman Capital Management Investment Trust
and the Shareholders of Hillman Value Fund
 
 
In planning and performing our audit of the financial statements of Hillman Value Fund, a series of shares of beneficial interest in Hillman Capital Management Investment Trust (the “Fund”), as of September 30, 2020, and for the year then ended, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (“PCAOB”), we considered the Fund’s internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting.  Accordingly, we express no such opinion.
 
The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting.  In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls.  A fund’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America (“GAAP”).  A fund’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of the financial statements in accordance with GAAP, and that receipts and expenditures of the fund are being made only in accordance with authorizations of management and trustees of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a fund’s assets that could have a material effect on the financial statements.
 
Because of inherent limitations, internal control over financial reporting may not prevent or detect misstatements.  Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate.
 
A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis.  A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Fund’s annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Fund’s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the PCAOB.  However, we noted no deficiencies in the Fund’s internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness, as defined above, as of September 30, 2020.
 
This report is intended solely for the information and use of management and the shareholders of Hillman Value Fund, the Board of Trustees of Hillman Capital Management Investment Trust and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

BBD, LLP
 
 
Philadelphia, Pennsylvania
November 23, 2020