WhaleCreep

Vulcan Value Partners 13F holdings, Q1 2016

Long-only investorSEC filingsCompare with another fundHoldings as of 2016-03-31, filed 2016-05-18

Vulcan Value Partners disclosed 55 US equity positions worth $11.1bn in its Q1 2016 13F filing. Its largest position is ORCL at 8.7% of the reported book, followed by PH and NOVEUR. Versus Q4 2015 it opened 7 new positions, added to 23, reduced 22 and exited 22.

$11.1bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
55
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
8.7%
Largest position
The largest single position as a share of the reported equity book.
51.8%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
26
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
63
Quarters on file since Q4 2010
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q4 2015: 7 new, 23 added, 22 reduced, 22 exited

50 of 55
ORCL ORACLE CORPTechnology8.7%$967m23.63m−1.7%reduced
PH PARKER-HANNIFIN CORPIndustrials7.3%$815m7.34m−4.7%reduced
NOVEUR NATIONAL OILWELL VARCO INC–5.4%$600m19.30m+32%added
BEN FRANKLIN RESOURCES INCFinancial Services5.0%$555m14.22m+0.9%added
DISCKUSD DISCOVERY INC–4.6%$512m18.96m+1.7%added
FOSL FOSSIL GROUP INCConsumer Cyclical4.5%$495m11.15m+5.6%added
BA BOEING COIndustrials4.4%$493m3.89m+47%added
AXIS CAP HLDGS LTD no ticker–4.0%$450m8.12m+1.5%added
STT STATE STR CORPFinancial Services4.0%$442m7.55m+50%added
CSCO CISCO SYS INCTechnology3.9%$433m15.20m+19%added
V VISA INCFinancial Services3.5%$384m5.02m−1.2%reduced
MA MASTERCARD INCFinancial Services3.4%$382m4.04m−1.0%reduced
EG EVEREST GROUP LTDFinancial Services3.4%$375m1.90m−4.4%reduced
ELV ELEVANCE HEALTH INCHealthcare3.2%$360m2.59m+1.6%added
BNY BANK OF NY MELLON CORPFinancial Services3.0%$336m9.12m+40%added
DOV DOVER CORPIndustrials2.6%$294m4.57m−11%reduced
QCOM QUALCOMM INCTechnology2.5%$277m5.42m+0.1%held
UTXZ UNITED TECHNOLOGIES CORP–2.3%$260m2.60m+0.4%held
HLT HILTON WORLDWIDE HLDGS INCConsumer Cyclical2.3%$251m11.17m–new
ACIW ACI WORLDWIDE INCTechnology1.6%$178m8.58m+6.5%added
TROW PRICE T ROWE GROUP INCFinancial Services1.6%$178m2.43m−24%reduced
TWXCHF TIME WARNER INC–1.6%$177m2.45m−0.7%reduced
DIS DISNEY WALT COCommunication Services1.5%$171m1.73m+15%added
AETNA INC NEW no ticker–1.5%$169m1.50m−45%reduced
INTERCONTINENTAL HOTELS GROU no ticker–1.2%$135m3.28m+201%added
ASPEN INSURANCE HOLDINGS LTD no ticker–1.1%$122m2.56m+18%added
NUS NU SKIN ENTERPRISES INCConsumer Defensive0.9%$100m2.62m−25%reduced
ENS ENERSYSIndustrials0.8%$91.6m1.64m+0.4%held
CHECK POINT SOFTWARE TECH LT no ticker–0.8%$91.1m1.04m−1.8%reduced
NAVIGATORS GROUP INC no ticker–0.8%$89.3m1.06m−6.3%reduced
WWD WOODWARD INCIndustrials0.7%$80.8m1.55m−7.3%reduced
AAPL APPLE INCTechnology0.7%$79.7m731,557+0.6%added
LA QUINTA HLDGS INC no ticker–0.7%$77.8m6.22m–new
LNN LINDSAY CORPIndustrials0.7%$73.5m1.03m+2.1%added
EVEUR EATON VANCE CORP–0.6%$68.2m2.04m+21%added
VRTS VIRTUS INVT PARTNERS INCFinancial Services0.6%$64.5m825,731+97%added
ITRN ITURAN LOCATION AND CONTROLTechnology0.5%$58.8m2.99m+14%added
CR CRANE COIndustrials0.5%$55.8m1.04m+52%added
FWRD FORWARD AIR CORPIndustrials0.4%$47.8m1.05m−0.9%reduced
8TG THERMON GROUP HLDGS INC–0.4%$46.0m2.62m+6.7%added
ATUEUR ACTUANT CORP–0.4%$40.2m1.63m−14%reduced
TKR TIMKEN COIndustrials0.4%$40.2m1.20m−46%reduced
SAFT SAFETY INS GROUP INCFinancial Services0.3%$38.3m670,791+2.6%added
TUP TUPPERWARE BRANDS CORP–0.3%$37.8m651,416−69%reduced
MSM MSC INDL DIRECT INCIndustrials0.3%$29.6m387,385−92%reduced
NCI1EUR NAVIGANT CONSULTING INC–0.2%$24.5m1.55m+10%added
DCI DONALDSON INCIndustrials0.2%$20.3m635,607−56%reduced
CW CURTISS WRIGHT CORPIndustrials0.2%$20.1m265,330−47%reduced
MLKN MILLERKNOLL INCConsumer Cyclical0.2%$20.0m646,424–new
LECO LINCOLN ELEC HLDGS INCIndustrials0.2%$18.9m322,916−48%reduced

Exited since Q4 2015

22 rows
VZ VERIZON COMMUNICATIONS INC1.2%$124m
HONGBP HONEYWELL INTL INC0.9%$94.5m
CSL CARLISLE COS INC0.8%$87.9m
NDSN NORDSON CORP0.2%$18.0m
SPY SPDR S&P 500 ETF Trust0.0%$249k
BIIB BIOGEN INC0.0%$230k
KO COCA COLA CO0.0%$221k
MGM MGM RESORTS INTERNATIONAL0.0%$220k
ABBV ABBVIE INC0.0%$219k
BBTUSD BB&T CORP0.0%$214k
UPS UNITED PARCEL SERVICE INC0.0%$214k
AZN ASTRAZENECA PLC0.0%$212k
CVS CVS HEALTH CORP0.0%$210k
C CITIGROUP INC0.0%$207k
SYF SYNCHRONY FINANCIAL0.0%$207k
MET METLIFE INC0.0%$205k
EBAY EBAY INC.0.0%$203k
COF CAPITAL ONE FINL CORP0.0%$202k
F FORD MTR CO0.0%$201k
HPQ HP INC0.0%$140k
RF REGIONS FINANCIAL CORP NEW0.0%$128k
EXPE EXPEDIA GROUP INC0.0%$4.0k

Sector mix

  • Unclassified26.1%
  • Financial Services24.8%
  • Industrials18.7%
  • Technology17.9%
  • Consumer Cyclical6.9%
  • Healthcare3.2%
  • Communication Services1.5%
  • Consumer Defensive0.9%

Book over time

Every quarter on file (63)
QuarterPositionsEquity book
Q2 202636$3.3bn
Q1 202633$3.8bn
Q4 202541$5.5bn
Q3 202540$5.5bn
Q2 202538$5.7bn
Q1 202539$5.3bn
Q4 202449$6.0bn
Q3 202443$6.0bn
Q2 202445$7.1bn
Q1 202446$6.9bn
Q4 202346$6.8bn
Q3 202345$6.6bn
Q2 202344$8.0bn
Q1 202343$7.9bn
Q4 202241$7.4bn
Q3 202237$8.5bn
Q2 202239$10.2bn
Q1 202235$16.3bn
Q4 202139$19.6bn
Q3 202140$18.6bn
Q2 202138$18.4bn
Q1 202140$16.9bn
Q4 202038$15.5bn
Q3 202040$12.9bn
Q2 202042$12.7bn
Q1 202040$9.6bn
Q4 201954$13.0bn
Q3 201950$11.8bn
Q2 201958$11.2bn
Q1 201954$11.6bn
Q4 201855$10.8bn
Q3 201855$13.7bn
Q2 201857$12.9bn
Q1 201852$12.4bn
Q4 201757$12.2bn
Q3 201752$11.7bn
Q2 201751$11.2bn
Q1 201755$11.6bn
Q4 201654$11.2bn
Q3 201658$10.9bn
Q2 201655$10.2bn
Q1 201655$11.1bn
Q4 201570$10.8bn
Q3 201555$10.3bn
Q2 201561$10.6bn
Q1 201563$10.0bn
Q4 201466$8.8bn
Q3 201475$7.0bn
Q2 2014102$6.8bn
Q1 201461$5.7bn
Q4 201352$4.8bn
Q3 201353$3.3bn
Q2 201354$2.3bn
Q1 201341$1.4bn
Q4 201237$916m
Q3 201247$619m
Q2 201235$355m
Q1 201231$251m
Q4 201132$196m
Q3 201134$205m
Q2 201132$147m
Q1 201133$105m
Q4 201033$81.9m

Where Vulcan Value Partners was early

65 rows
DOV DOVER CORPQ1 20111 of 1331.7%7.8%22Exited by Q3 2016+27%
ITRN ITURAN LOCATION AND CONTROLQ2 20112 of 461.8%1.8%61Held at last filing, Q2 2026+333%
AAPL APPLE INCQ2 201121 of 2752.0%9.3%20Exited by Q2 2016+127%
NDSN NORDSON CORPQ3 20111 of 1121.3%1.3%10Exited by Q1 2016+61%
PH Parker-Hannifin CorpQ3 20113 of 1523.8%7.3%34Exited by Q1 2020+226%
UTXZ UNITED TECHNOLOGIES CORPQ3 20115 of 1145.1%5.9%19Exited by Q2 2018+79%
BNY BANK NEW YORK MELLON CORPQ3 20118 of 1543.4%7.7%32Exited by Q3 2019+137%
V VISA INCQ3 201121 of 2846.7%6.7%60Held at last filing, Q2 2026+1501%
TUP TUPPERWARE BRANDS CORPQ2 20121 of 700.7%1.1%25Exited by Q3 2018−25%
CME CME GROUP INCQ2 20125 of 1616.3%6.3%9Exited by Q1 2015+65%
ORCL ORACLE CORPQ2 201213 of 2566.1%9.8%34Exited by Q4 2020+101%
TROW PRICE T ROWE GROUP INCQ3 20128 of 1200.02%2.1%9Exited by Q4 2016+5.1%
CW CURTISS WRIGHT CORPQ4 20121 of 1360.8%1.0%22Exited by Q2 2023+437%
WLY JOHN WILEY & SONS INCQ1 20131 of 830.8%1.2%4Exited by Q1 2014+42%
RVTY PERKIN-ELMER INCQ1 20136 of 1130.7%1.6%4Exited by Q1 2014+23%
ACIW ACI WORLDWIDE INCQ2 20131 of 1051.7%2.5%30Exited by Q4 2020+69%
CHE CHEMED CORP NEWQ2 20131 of 1111.4%2.1%10Exited by Q4 2016+95%
UTI UNIVERSAL TECHNICAL INST INCQ2 20131 of 951.2%1.2%7Exited by Q1 2015−4.7%
LYV LIVE NATION ENTERTAINMENT INQ2 20137 of 2161.2%4.5%10Exited by Q1 2025+735%
BEN FRANKLIN RES INCQ2 20139 of 1173.0%5.0%15Exited by Q1 2017−13%
QCOM QUALCOMM INCQ2 201318 of 2462.9%3.9%14Exited by Q4 2016+12%
LNN LINDSAY CORPQ3 20131 of 770.6%1.7%19Exited by Q2 2018+12%
NSP INSPERITY INCQ3 20131 of 1000.4%1.2%6Exited by Q1 2015−9.9%
MAR MARRIOTT INTL INC NEWQ4 20134 of 1823.0%3.6%18Exited by Q1 2025+465%
EBAY EBAY INCQ4 201319 of 1863.6%4.0%6Exited by Q1 2016+19%
VRTS VIRTUS INVT PARTNERS INCQ1 20141 of 720.8%1.1%48Exited by Q1 2026−5.8%
ENS ENERSYSQ1 20142 of 1020.6%1.0%35Exited by Q1 2025+33%
NUS NU SKIN ENTERPRISES INCQ1 20145 of 951.1%2.3%10Exited by Q3 2016−44%
VZ VERIZON COMMUNICATIONS INCQ1 201412 of 1801.6%2.5%8Exited by Q1 2016−2.8%
SABR Sabre CorpQ2 20142 of 1581.5%3.3%20Exited by Q1 2020+12%
FFIV F5 NETWORKS INCQ2 20147 of 1410.0%2.7%3Exited by Q4 2015+3.9%
STT STATE STR CORPQ2 201412 of 1391.9%4.7%21Exited by Q3 2019−17%
FOSL FOSSIL GROUP INCQ3 20143 of 871.8%4.7%11Exited by Q2 2017−81%
CL COLGATE PALMOLIVE COQ3 20145 of 1311.0%1.1%4Exited by Q3 2015+0.3%
BA BOEING COQ3 201412 of 2212.5%4.4%12Exited by Q3 2017+55%
MSM MSC Industrial Direct Co IncQ4 20144 of 1141.5%2.7%18Exited by Q1 2020−3.4%
ELV ELEVANCE HEALTH INC FORMERLYQ4 20145 of 2271.7%4.3%44Held at last filing, Q2 2026+208%
HLT HILTON WORLDWIDE HLDGS INCQ1 201622 of 2252.3%6.8%21Exited by Q2 2021+162%
JLL JONES LANG LASALLE INCQ2 20167 of 1330.5%4.7%40Held at last filing, Q2 2026+218%
COR AmerisourceBergen CorpQ2 201614 of 1580.3%5.7%15Exited by Q1 2020+7.2%
SWKS SKYWORKS SOLUTIONS INCQ3 20167 of 1543.5%8.0%37Exited by Q4 2025+1.1%
QRVO QORVO INCQ3 20168 of 1732.5%8.2%40Held at last filing, Q2 2026+67%
UNH UNITEDHEALTH GROUP INCQ3 201623 of 2991.2%7.5%16Held at last filing, Q2 2026+197%
CAH CARDINAL HEALTH INCQ4 20169 of 1262.8%3.0%11Exited by Q3 2019−35%
CBRE CBRE GROUP INCQ4 201615 of 1582.1%4.5%24Exited by Q3 2025+345%
NTRS NORTHERN TR CORPQ1 20179 of 1171.3%2.0%10Exited by Q3 2019+4.0%
MCO MOODYS CORPQ1 201717 of 1761.6%1.8%10Exited by Q3 2019+74%
SPGI S&P Global IncQ1 201719 of 2471.4%3.3%12Exited by Q1 2020+109%
CACC CREDIT ACCEP CORP MICHQ2 201711 of 1020.5%4.2%10Exited by Q4 2020+32%
SNBRQ SLEEP NUMBER CORPQ4 20171 of 951.3%1.3%12Exited by Q1 2023−31%

Concentration and tenure

7.5%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
54.2%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
3
Median completed holding, quarters