Vulcan Value Partners
C.T. FitzpatrickBIRMINGHAM, ALfiles as Vulcan Value Partners, LLC
$3.3bn in 36 US stocks at the end of 30 June 2026. The top 10 are 76.6% of the money. It changed about 12.4% of the portfolio this quarter.
Value
$3.3bn
Stocks
36
Top 10 share
76.6%
Turnover
12.4%
What changed this quarter
New
Bought for the first time this quarter.
- EquifaxEFX0.4% of the fund
- Badger MeterBMI0.3% of the fund
- Veeva SystemsVEEV0.1% of the fund
- Ishares TRIWD<0.1% of the fund
Added
Bought more of a stock they already held.
- Ryan Specialty HoldingsRYAN9.1% of the fund+20%
- MastercardMA7.9% of the fund+31%
- Ares ManagementARES6.4% of the fund+13%
- TPGTPG2.9% of the fund+19%
- ServiceNowNOW1.7% of the fund+8%
- Iqvia HoldingsIQV1.5% of the fund+5%
Cut
Sold some of their stake.
- Everest GroupEG11.3% of the fund-24%
- MicrosoftMSFT11.2% of the fund-11%
- Amazon.comAMZN7.2% of the fund-38%
- TransDigm GroupTDG6.9% of the fund-7%
- TransUnionTRU5.9% of the fund-16%
- AlphabetGOOG5.8% of the fund-20%
- VisaV4.8% of the fund-28%
- Medpace HoldingsMEDP2.3% of the fund-30%
- Elevance HealthELV1.8% of the fund-47%
- CarMaxKMX1.5% of the fund-59%
- FiservFISV1.3% of the fund-18%
- NiceNICE1.3% of the fund-16%
- HeicoHEI-A1.2% of the fund-14%
- Jones Lang LasalleJLL0.9% of the fund-12%
- UnitedHealth GroupUNH0.9% of the fund-93%
- SalesforceCRM0.8% of the fund-17%
- Colliers International GroupCIGI0.6% of the fund-17%
- ABM IndustriesABM0.6% of the fund-29%
- MillerknollMLKN0.5% of the fund-37%
- QorvoQRVO0.5% of the fund-33%
- GenpactG0.4% of the fund-27%
- StandardAeroSARO0.4% of the fund-37%
- PROG HoldingsPRG0.4% of the fund-50%
- Fortune Brands InnovationsFBIN0.4% of the fund-37%
- LittelfuseLFUS0.2% of the fund-78%
Sold out
Sold their entire stake.
Holdings
- NiceNICE
- Share
- 1.3%
- Value
- $43m
- Shares
- 478,421
-16%
- Colliers International GroupCIGI
- Share
- 0.6%
- Value
- $20m
- Shares
- 211,910
-17%
- Ishares TRIWD
- Share
- <0.1%
- Value
- $2m
- Shares
- 7,011
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Everest GroupEG | 11.3% | $370m | 1,036,906 | -24% |
| MicrosoftMSFT | 11.2% | $368m | 986,905 | -11% |
| Ryan Specialty HoldingsRYAN | 9.1% | $299m | 7,912,669 | +20% |
| MastercardMA | 7.9% | $258m | 502,961 | +31% |
| Amazon.comAMZN | 7.2% | $237m | 992,758 | -38% |
| TransDigm GroupTDG | 6.9% | $227m | 170,429 | -7% |
| Ares ManagementARES | 6.4% | $212m | 1,902,580 | +13% |
| TransUnionTRU | 5.9% | $195m | 2,707,249 | -16% |
| AlphabetGOOG | 5.8% | $191m | 539,472 | -20% |
| VisaV | 4.8% | $159m | 463,268 | -28% |
| TPGTPG | 2.9% | $96m | 2,361,862 | +19% |
| Medpace HoldingsMEDP | 2.3% | $75m | 141,743 | -30% |
| Elevance HealthELV | 1.8% | $60m | 155,873 | -47% |
| ServiceNowNOW | 1.7% | $57m | 574,811 | +8% |
| Iqvia HoldingsIQV | 1.5% | $50m | 259,856 | +5% |
| CarMaxKMX | 1.5% | $48m | 912,638 | -59% |
| FiservFISV | 1.3% | $44m | 893,965 | -18% |
| NiceNICE | 1.3% | $43m | 478,421 | -16% |
| HeicoHEI-A | 1.2% | $40m | 153,718 | -14% |
| Jones Lang LasalleJLL | 0.9% | $30m | 96,258 | -12% |
| UnitedHealth GroupUNH | 0.9% | $28m | 67,309 | -93% |
| SalesforceCRM | 0.8% | $26m | 164,013 | -17% |
| Colliers International GroupCIGI | 0.6% | $20m | 211,910 | -17% |
| ABM IndustriesABM | 0.6% | $20m | 448,559 | -29% |
| MillerknollMLKN | 0.5% | $17m | 838,151 | -37% |
| QorvoQRVO | 0.5% | $17m | 181,315 | -33% |
| EquifaxEFX | 0.4% | $14m | 90,748 | New |
| GenpactG | 0.4% | $14m | 521,587 | -27% |
| StandardAeroSARO | 0.4% | $13m | 450,287 | -37% |
| PROG HoldingsPRG | 0.4% | $13m | 281,066 | -50% |
| Fortune Brands InnovationsFBIN | 0.4% | $12m | 214,798 | -37% |
| Badger MeterBMI | 0.3% | $10m | 68,684 | New |
| LittelfuseLFUS | 0.2% | $8m | 17,448 | -78% |
| Ituran Location & ControlITRN | 0.2% | $8m | 124,028 | -75% |
| Veeva SystemsVEEV | 0.1% | $4m | 21,240 | New |
| Ishares TRIWD | <0.1% | $2m | 7,011 | New |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 42.1% since 30 June 2025.
Where the money is
Financial services43.8%
Industrials16.2%
Technology15.5%
Retail & consumer9.2%
Health care6.6%
Media & telecom5.8%
Real estate1.5%
Other1.4%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.