Vulcan Value Partners · SEC Form 13F for Sep 30, 2026 · filed Nov 10, 2026
Vulcan Value Partners
$3.1 billion in 34 stocks
Microsoft is 15% of it, and five stocks make up 50%. Against Q2 2026: opened 2, added to 3, trimmed 14, sold out of 4.
Copying these filings against the S&P 500
Return per year, May 14, 2014 – Nov 11, 2026, dividends included. Calculated Nov 12, 2026; later filings are not in it. A simulation, not the fund’s return, and the gap changes a lot with the dates.
How this is calculated
We compare two imaginary portfolios over the same dates. One buys an S&P 500 fund (SPY) and keeps it. The other copies this investor: on the first trading day after each 13F filing becomes public, it sells what it holds and buys what the filing lists, in the same proportions, at that day’s closing price. It leaves out options, holds no cash and does not trade between filings.
We use daily prices from Yahoo Finance, dividends included, and check each against the price in the filings before using it. Some holdings have no daily prices, mostly companies that were later bought or delisted, and bonds. For those we use the price from each quarterly filing, which leaves out dividends. For this investor that is 8% of the copy.
Filings come out up to 45 days after the quarter ends, so the copy is always acting on old news. A holding first revealed in a corrected filing counts from the day the correction was filed. Shorts, cash, non-US listings, fees, costs and taxes are left out. The start date is simply where our data begins. This is not a prediction.
Calculation and data limitsWhat changed in Q3 2026
Change in shares since Q2 2026. Changes under 20% are in grey.
Opened2
Skyworks Solutions Inc0.55% of portfolioTyler Technologies Inc0.37% of portfolioAdded to3 + 2 smaller
Equifax Inc+392%Heico Corp (Class A)+88.4%Veeva Systems Inc (Class A)+39.5%Transdigm Group Inc+12.3%Alphabet (Class C)+1.4%Trimmed14 + 13 smaller
Badger Meter Inc−64.0%Millerknoll Inc−60.1%Prog Holdings Inc−50.6%Medpace Holdings Inc−50.5%Ituran Location and Control−39.4%Littelfuse Inc−37.4%UnitedHealth Group−35.4%Fortune Brands Innovations I−31.5%and 19 more in the holdings below
Sold out4
Iqvia Holdings Incwas 1.53%Carmax Incwas 1.47%Qorvo Incwas 0.52%iShares Russell 1000 Value Ewas 0.05%The portfolio in one line
Each block is a holding, as wide as its share of the portfolio.
opened or added 20% or more trimmed 20% or more otherwise
34 matching positions
| Company | Weight | This quarter | Reported value | 8 quarters |
|---|---|---|---|---|
MicrosoftMSFTPosition detailsQuote on Yahoo Finance ↗ 911,835 reported shares · $512.90 per unit · $467,680,172 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 14.93% | Reduce -7.61% | $468M | |
Everest Group LtdEGPosition detailsQuote on Yahoo Finance ↗ 964,680 reported shares · $365.17 per unit · $352,272,354 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 11.25% | Reduce -6.97% | $352M | |
Ryan Specialty Holdings IncRYANPosition detailsQuote on Yahoo Finance ↗ 6,865,586 reported shares · $37.00 per unit · $254,026,672 reported value 5 recorded quarters of position-weight history; not proof of continuous ownership. | 8.11% | Reduce -13.23% | $254M | |
MastercardMAPosition detailsQuote on Yahoo Finance ↗ 449,474 reported shares · $551.47 per unit · $247,871,427 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 7.91% | Reduce -10.63% | $248M | |
AmazonAMZNPosition detailsQuote on Yahoo Finance ↗ 973,348 reported shares · $249.15 per unit · $242,509,654 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 7.74% | Reduce -1.96% | $243M | |
Transdigm Group IncTDGPosition detailsQuote on Yahoo Finance ↗ 191,446 reported shares · $1082.60 per unit · $207,259,440 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 6.62% | Add +12.33% | $207M | |
Ares Management Corp (Class A)ARESPosition detailsQuote on Yahoo Finance ↗ 1,736,771 reported shares · $116.17 per unit · $201,760,687 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 6.44% | Reduce -8.71% | $202M | |
Alphabet (Class C)GOOGPosition detailsQuote on Yahoo Finance ↗ 546,972 reported shares · $340.74 per unit · $186,375,239 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 5.95% | Add +1.39% | $186M | |
VisaVPosition detailsQuote on Yahoo Finance ↗ 430,794 reported shares · $359.33 per unit · $154,797,208 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 4.94% | Reduce -7.01% | $155M | |
TransunionTRUPosition detailsQuote on Yahoo Finance ↗ 2,408,679 reported shares · $61.12 per unit · $147,218,480 reported value 4 recorded quarters of position-weight history; not proof of continuous ownership. | 4.70% | Reduce -11.03% | $147M | |
Tpg IncTPGPosition detailsQuote on Yahoo Finance ↗ 2,212,676 reported shares · $44.13 per unit · $97,645,391 reported value 7 recorded quarters of position-weight history; not proof of continuous ownership. | 3.12% | Reduce -6.32% | $98M | |
Servicenow IncNOWPosition detailsQuote on Yahoo Finance ↗ 554,957 reported shares · $134.01 per unit · $74,369,788 reported value 3 recorded quarters of position-weight history; not proof of continuous ownership. | 2.37% | Reduce -3.45% | $74M | |
Heico Corp (Class A)HEI/APosition detailsQuote on Yahoo Finance ↗ 289,667 reported shares · $228.33 per unit · $66,139,666 reported value Previous recorded weight: 1.21% 8 recorded quarters of position-weight history; not proof of continuous ownership. | 2.11% | Add +88.44% | $66M | |
Equifax IncEFXPosition detailsQuote on Yahoo Finance ↗ 446,266 reported shares · $137.24 per unit · $61,245,546 reported value Previous recorded weight: 0.44% 2 recorded quarters of position-weight history; not proof of continuous ownership. | 1.96% | Add +391.76% | $61M | |
Elevance HealthELVPosition detailsQuote on Yahoo Finance ↗ 137,069 reported shares · $388.82 per unit · $53,295,169 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 1.70% | Reduce -12.06% | $53M | |
Nice Ltd - Spon ADRNICEPosition detailsQuote on Yahoo Finance ↗ 473,096 reported shares · $111.27 per unit · $52,641,392 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 1.68% | Reduce -1.11% | $53M | |
Medpace Holdings IncMEDPPosition detailsQuote on Yahoo Finance ↗ 70,160 reported shares · $624.18 per unit · $43,792,469 reported value Previous recorded weight: 2.29% 8 recorded quarters of position-weight history; not proof of continuous ownership. | 1.40% | Reduce -50.50% | $44M | |
Fiserv IncFISVPosition detailsQuote on Yahoo Finance ↗ 808,034 reported shares · $45.18 per unit · $36,506,976 reported value 6 recorded quarters of position-weight history; not proof of continuous ownership. | 1.17% | Reduce -9.61% | $37M | |
SalesforceCRMPosition detailsQuote on Yahoo Finance ↗ 130,431 reported shares · $229.57 per unit · $29,943,045 reported value Previous recorded weight: 0.78% 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.96% | Reduce -20.48% | $30M | |
Jones Lang Lasalle IncJLLPosition detailsQuote on Yahoo Finance ↗ 75,382 reported shares · $305.52 per unit · $23,030,709 reported value Previous recorded weight: 0.91% 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.73% | Reduce -21.69% | $23M | |
Skyworks Solutions IncSWKSPosition detailsQuote on Yahoo Finance ↗ 202,832 reported shares · $85.48 per unit · $17,338,079 reported value Previous recorded weight: 0.00% 5 recorded quarters of position-weight history; not proof of continuous ownership. | 0.55% | New position | $17M | |
Abm Industries IncABMPosition detailsQuote on Yahoo Finance ↗ 332,687 reported shares · $48.10 per unit · $16,002,224 reported value Previous recorded weight: 0.60% 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.51% | Reduce -25.83% | $16M | |
UnitedHealth GroupUNHPosition detailsQuote on Yahoo Finance ↗ 43,505 reported shares · $367.08 per unit · $15,969,815 reported value Previous recorded weight: 0.85% 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.51% | Reduce -35.37% | $16M | |
Colliers Intl Gr-Subord VotCIGIPosition detailsQuote on Yahoo Finance ↗ 159,937 reported shares · $89.80 per unit · $14,362,387 reported value Previous recorded weight: 0.60% 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.46% | Reduce -24.53% | $14M | |
Genpact LimitedPosition details415,705 reported shares · $32.53 per unit · $13,522,884 reported value Previous recorded weight: 0.44% 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.43% | Reduce -20.30% | $14M | |
Tyler Technologies IncTYLPosition detailsQuote on Yahoo Finance ↗ 36,796 reported shares · $318.60 per unit · $11,723,206 reported value Previous recorded weight: 0.00% —1 recorded quarters of position-weight history; not proof of continuous ownership. | 0.37% | New position | $12M | |
Veeva Systems Inc (Class A)VEEVPosition detailsQuote on Yahoo Finance ↗ 29,640 reported shares · $285.45 per unit · $8,460,738 reported value Previous recorded weight: 0.12% 2 recorded quarters of position-weight history; not proof of continuous ownership. | 0.27% | Add +39.55% | $8M | |
Standardaero IncSAROPosition detailsQuote on Yahoo Finance ↗ 315,488 reported shares · $21.44 per unit · $6,764,452 reported value Previous recorded weight: 0.41% 4 recorded quarters of position-weight history; not proof of continuous ownership. | 0.22% | Reduce -29.94% | $7M | |
Millerknoll IncMLKNPosition detailsQuote on Yahoo Finance ↗ 334,067 reported shares · $19.66 per unit · $6,567,766 reported value Previous recorded weight: 0.52% 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.21% | Reduce -60.14% | $7M | |
Fortune Brands Innovations IFBINPosition detailsQuote on Yahoo Finance ↗ 147,138 reported shares · $38.05 per unit · $5,598,589 reported value Previous recorded weight: 0.36% 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.18% | Reduce -31.50% | $6M | |
Littelfuse IncLFUSPosition detailsQuote on Yahoo Finance ↗ 10,920 reported shares · $423.76 per unit · $4,627,441 reported value Previous recorded weight: 0.24% 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.15% | Reduce -37.41% | $5M | |
Prog Holdings IncPRGPosition detailsQuote on Yahoo Finance ↗ 138,771 reported shares · $30.92 per unit · $4,290,799 reported value Previous recorded weight: 0.40% 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.14% | Reduce -50.63% | $4M | |
Ituran Location and ControlITRNPosition detailsQuote on Yahoo Finance ↗ 75,121 reported shares · $51.22 per unit · $3,847,686 reported value Previous recorded weight: 0.23% 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.12% | Reduce -39.43% | $4M | |
Badger Meter IncBMIPosition detailsQuote on Yahoo Finance ↗ 24,700 reported shares · $123.54 per unit · $3,051,409 reported value Previous recorded weight: 0.31% 2 recorded quarters of position-weight history; not proof of continuous ownership. | 0.10% | Reduce -64.04% | $3M |
How to read this table
- Weight is a holding’s share of the reported portfolio, not of everything the manager runs.
- Price per unit is the reported value divided by the reported shares at quarter end.
- Some filings state dollar values in thousands. Those are shown here in dollars.
- Share changes compare two filings. They can reflect splits or corrections as well as trades.
- Every change is listed here. Across the site, an investor counts as adding or reducing only when the change is 20% or more, or a position is opened or closed.
- “N/A” means the two filings could not be compared, not that nothing changed.
- Filings do not show trade dates or reasons.
Source: SEC Form 13F for Sep 30, 2026, filed Nov 10, 2026 · Form 13F 0001556785-26-000022 ↗SEC filing index ↗ · A filing lists long US-listed positions at quarter end. It is not a live portfolio and gives no reasons for a change.
About Vulcan Value Partners
C.T. Fitzpatrick founded Vulcan Value Partners in 2007. Firm background ↗
In its portfolio for the quarter ended Mar 31, 2014, Vulcan Value Partners’s largest reported positions included Oracle Corporation, Apple Inc, Everest Re Group Ltd. Historical filing ↗
In the filing dated Nov 10, 2026, Vulcan Value Partners reported as Vulcan Value Partners, LLC with an office in Birmingham. Ashley Mann, Compliance Officer, signed the filing. SEC cover page ↗
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