Vulcan Value Partners
Vulcan Value Partners
2026Q1 brief
Vulcan Value Partners' concentrated $3.77B portfolio made its boldest statement with TRU (TransUnion) surging 202% to 5.88% — now a top-five holding — alongside MEDP (Medpace) exploding 329% to 2.59%, suggesting deep conviction in data/analytics and CRO businesses trading at what Vulcan views as intrinsic-value discounts. RYAN was added 43% to 5.90%, reinforcing a clear insurance-distribution theme alongside long-standing top holding EVEREST GROUP (11.8%). The firm exited CSGP (CoStar, previously 5.44%) entirely — a significant portfolio restructuring away from commercial real estate data — while trimming GOOG 27% and TDG 23%, modestly reducing mega-cap and aerospace/defense exposure. The sole new position, NOW (ServiceNow) at 1.48%, is a small but notable tech-quality add. With top-5 concentration at 43.9%, Vulcan's bet on specialty insurance and data analytics is becoming more pronounced. Watch whether TRU and MEDP continue to build — if so, this reshapes the portfolio's sector identity away from diversified compounders toward a tighter financial-data and CRO thesis.
AI-generated. Not investment advice.
Holdings (33) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | EG | 11.8% | $445M | |||
| 2 | MSFT | 10.9% | $411M | |||
| 3 | AMZN | 8.8% | $332M | |||
| 4 | UNH | 6.5% | $247M | |||
| 5 | RYAN | 5.9% | $223M | |||
| 6 | TRU | 5.9% | $222M | |||
| 7 | TDG | 5.7% | $214M | |||
| 8 | GOOG | 5.1% | $194M | |||
| 9 | V | 5.1% | $193M | |||
| 10 | MA | 5.1% | $191M | |||
| 11 | ARES | 4.9% | $185M | |||
| 12 | MEDP | 2.6% | $98M | |||
| 13 | KMX | 2.4% | $92M | |||
| 14 | ELV | 2.3% | $87M | |||
| 15 | TPG | 2.1% | $80M | |||
| 16 | NICE | 1.7% | $63M | |||
| 17 | FISV | 1.6% | $61M | |||
| 18 | NOW | 1.5% | $56M | |||
| 19 | IQV | 1.1% | $42M | |||
| 20 | HEI/A | 1.0% | $38M | |||
| 21 | CRM | 1.0% | $37M | |||
| 22 | JLL | 0.9% | $33M | |||
| 23 | CIGI | 0.7% | $27M | |||
| 24 | LFUS | 0.7% | $27M | |||
| 25 | G3922B107 | 0.7% | $26M | |||
| 26 | ABM | 0.6% | $24M | |||
| 27 | ITRN | 0.6% | $24M | |||
| 28 | QRVO | 0.6% | $21M | |||
| 29 | MLKN | 0.5% | $19M | |||
| 30 | SARO | 0.5% | $19M | |||
| 31 | PRG | 0.4% | $16M | |||
| 32 | FBIN | 0.4% | $13M | |||
| 33 | PK | 0.3% | $13M |
- 1EG11.8%$445MEverest Group Ltdthis Q hold·23q
- 2MSFT10.9%$411MMicrosoft Corpthis Q hold·30q
- 3AMZN8.8%$332MAmazon.com Incthis Q hold·30q
- 4UNH6.5%$247MUnitedhealth Group Incthis Q hold·15q
- 5RYAN5.9%$223MRyan Specialty Holdings Incthis Q +43%·3q
- 6TRU5.9%$222MTransunionthis Q +202%·2q
- 7TDG5.7%$214MTransdigm Group Incthis Q -23%·24q
- 8GOOG5.1%$194MAlphabet Inc-cl Cthis Q -27%·36q
- 9V5.1%$193MVisa Inc-class A Sharesthis Q hold·40q
- 10MA5.1%$191MMastercard Inc - Athis Q hold·40q
- 11ARES4.9%$185MAres Management Corp - Athis Q hold·15q
- 12MEDP2.6%$98MMedpace Holdings Incthis Q +329%·20q
- 13KMX2.4%$92MCarmax Incthis Q -25%·9q
- 14ELV2.3%$87MElevance Health Incthis Q -23%·37q
- 15TPG2.1%$80MTpg Incthis Q hold·5q
- 16NICE1.7%$63MNice Ltd - Spon Adrthis Q -34%·14q
- 17FISV1.6%$61MFiserv Incthis Q -24%·10q
- 18NOW1.5%$56MServicenow Incthis Q New·—1q
- 19IQV1.1%$42MIqvia Holdings Incthis Q -23%·4q
- 20HEI/A1.0%$38MHeico Corp-class Athis Q -29%·23q
- 21CRM1.0%$37MSalesforce Incthis Q -87%·24q
- 22JLL0.9%$33MJones Lang Lasalle Incthis Q -27%·39q
- 23CIGI0.7%$27MColliers Intl Gr-subord Votthis Q +38%·23q
- 24LFUS0.7%$27MLittelfuse Incthis Q -59%·26q
- 25G3922B1070.7%$26MGenpact Limitedthis Q hold·12q
- 26ABM0.6%$24MAbm Industries Incthis Q hold·23q
- 27ITRN0.6%$24MIturan Location And Controlthis Q hold·40q
- 28QRVO0.6%$21MQorvo Incthis Q -76%·39q
- 29MLKN0.5%$19MMillerknoll Incthis Q hold·35q
- 30SARO0.5%$19MStandardaero Incthis Q +51%·2q
- 31PRG0.4%$16MProg Holdings Incthis Q hold·22q
- 32FBIN0.4%$13MFortune Brands Innovations Ithis Q hold·6q
- 33PK0.3%$13MPark Hotels & Resorts Incthis Q hold·27q
All activity (2026Q1)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| CRM | Salesforce Inc | TRIM | 1.0% | -87% | $37M |
| RYAN | Ryan Specialty Holdings Inc | ADD | 5.9% | +43% | $223M |
| TRU | Transunion | ADD | 5.9% | +202% | $222M |
| TDG | Transdigm Group Inc | TRIM | 5.7% | -23% | $214M |
| CSGP | Costar Group Inc | EXIT | 5.4% | -100% | $0 |
| GOOG | Alphabet Inc-cl C | TRIM | 5.1% | -27% | $194M |
| MEDP | Medpace Holdings Inc | ADD | 2.6% | +329% | $98M |
| ELV | Elevance Health Inc | TRIM | 2.3% | -23% | $87M |
| KMX | Carmax Inc | TRIM | 2.4% | -25% | $92M |
| NICE | Nice Ltd - Spon Adr | TRIM | 1.7% | -34% | $63M |
| FISV | Fiserv Inc | TRIM | 1.6% | -24% | $61M |
| QRVO | Qorvo Inc | TRIM | 0.6% | -76% | $21M |
| NOW | Servicenow Inc | NEW | 1.5% | +100% | $56M |
| SWK | Stanley Black & Decker Inc | EXIT | 1.4% | -100% | $0 |
| IQV | Iqvia Holdings Inc | TRIM | 1.1% | -23% | $42M |
| HEI/A | Heico Corp-class A | TRIM | 1.0% | -29% | $38M |
| JLL | Jones Lang Lasalle Inc | TRIM | 0.9% | -27% | $33M |
| LFUS | Littelfuse Inc | TRIM | 0.7% | -59% | $27M |
| CCK | Crown Holdings Inc | EXIT | 0.7% | -100% | $0 |
| CIGI | Colliers Intl Gr-subord Vot | ADD | 0.7% | +38% | $27M |
| SARO | Standardaero Inc | ADD | 0.5% | +51% | $19M |
| VRTS | Virtus Investment Partners | EXIT | 0.2% | -100% | $0 |
| TKR | Timken CO | EXIT | 0.2% | -100% | $0 |
| MIDD | Middleby Corp | EXIT | 0.2% | -100% | $0 |
| SDA | Sealed Air Corp | EXIT | 0.1% | -100% | $0 |
| SPY | SS Spdr S&p 500 Etf Trust-us | EXIT | 0.1% | -100% | $0 |
| IWD | Ishares Russell 1000 Value E | EXIT | <0.1% | -100% | $0 |
- TRIMCRM1.0%Salesforce IncΔ -87%·$37M
- ADDRYAN5.9%Ryan Specialty Holdings IncΔ +43%·$223M
- ADDTRU5.9%TransunionΔ +202%·$222M
- TRIMTDG5.7%Transdigm Group IncΔ -23%·$214M
- EXITCSGP5.4%Costar Group IncΔ -100%·$0
- TRIMGOOG5.1%Alphabet Inc-cl CΔ -27%·$194M
- ADDMEDP2.6%Medpace Holdings IncΔ +329%·$98M
- TRIMELV2.3%Elevance Health IncΔ -23%·$87M
- TRIMKMX2.4%Carmax IncΔ -25%·$92M
- TRIMNICE1.7%Nice Ltd - Spon AdrΔ -34%·$63M
- TRIMFISV1.6%Fiserv IncΔ -24%·$61M
- TRIMQRVO0.6%Qorvo IncΔ -76%·$21M
- NEWNOW1.5%Servicenow IncΔ +100%·$56M
- EXITSWK1.4%Stanley Black & Decker IncΔ -100%·$0
- TRIMIQV1.1%Iqvia Holdings IncΔ -23%·$42M
- TRIMHEI/A1.0%Heico Corp-class AΔ -29%·$38M
- TRIMJLL0.9%Jones Lang Lasalle IncΔ -27%·$33M
- TRIMLFUS0.7%Littelfuse IncΔ -59%·$27M
- EXITCCK0.7%Crown Holdings IncΔ -100%·$0
- ADDCIGI0.7%Colliers Intl Gr-subord VotΔ +38%·$27M
- ADDSARO0.5%Standardaero IncΔ +51%·$19M
- EXITVRTS0.2%Virtus Investment PartnersΔ -100%·$0
- EXITTKR0.2%Timken COΔ -100%·$0
- EXITMIDD0.2%Middleby CorpΔ -100%·$0
- EXITSDA0.1%Sealed Air CorpΔ -100%·$0
- EXITSPY0.1%SS Spdr S&p 500 Etf Trust-usΔ -100%·$0
- EXITIWD<0.1%Ishares Russell 1000 Value EΔ -100%·$0
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001556785). Not investment advice.