WhaleCreep

Vulcan Value Partners 13F holdings, Q3 2016

Long-only investorSEC filingsCompare with another fundHoldings as of 2016-09-30, filed 2016-11-14

Vulcan Value Partners disclosed 58 US equity positions worth $10.9bn in its Q3 2016 13F filing. Its largest position is ORCL at 8.1% of the reported book, followed by NOVEUR and BEN. Versus Q2 2016 it opened 7 new positions, added to 16, reduced 26 and exited 4.

$10.9bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
58
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
8.1%
Largest position
The largest single position as a share of the reported equity book.
44.7%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
30
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 Q2 2016: 7 new, 16 added, 26 reduced, 4 exited

50 of 58
ORCL ORACLE CORPTechnology8.1%$877m22.33m−3.8%reduced
NOVEUR NATIONAL OILWELL VARCO INC–6.2%$674m18.35m−3.7%reduced
BEN FRANKLIN RESOURCES INCFinancial Services4.6%$505m14.19m−1.0%reduced
AXIS CAP HLDGS LTD no ticker–4.2%$454m8.35m−1.1%reduced
MA MASTERCARD INCFinancial Services3.7%$399m3.92m−2.9%reduced
ELV ELEVANCE HEALTH INCHealthcare3.6%$396m3.16m+22%added
V VISA INCFinancial Services3.6%$394m4.76m−4.2%reduced
EG EVEREST GROUP LTDFinancial Services3.6%$393m2.07m+5.6%added
DISCKUSD DISCOVERY INC–3.6%$389m14.79m−1.0%reduced
SWKS SKYWORKS SOLUTIONS INCTechnology3.5%$383m5.02m–new
BA BOEING COIndustrials3.5%$380m2.88m−1.5%reduced
PH PARKER-HANNIFIN CORPIndustrials3.5%$379m3.02m−36%reduced
STT STATE STR CORPFinancial Services3.3%$362m5.21m−29%reduced
BNY BANK OF NY MELLON CORPFinancial Services3.3%$359m8.99m−2.7%reduced
FOSL FOSSIL GROUP INCConsumer Cyclical2.9%$319m11.48m−1.1%reduced
HLT HILTON WORLDWIDE HLDGS INCConsumer Cyclical2.9%$318m13.85m−22%reduced
MCK MCKESSON CORPHealthcare2.6%$281m1.69m–new
QRVO QORVO INCTechnology2.5%$268m4.80m–new
CSCO CISCO SYS INCTechnology1.9%$210m6.62m−36%reduced
DIS DISNEY WALT COCommunication Services1.9%$205m2.21m+3.6%added
SABR SABRE CORPTechnology1.7%$182m6.47m+32%added
TWXCHF TIME WARNER INC–1.6%$178m2.24m−4.2%reduced
ACIW ACI WORLDWIDE INCTechnology1.6%$175m9.05m+3.3%added
AETNA INC NEW no ticker–1.6%$170m1.47m−1.9%reduced
TROW PRICE T ROWE GROUP INCFinancial Services1.5%$161m2.41m+8.0%added
UTXZ UNITED TECHNOLOGIES CORP–1.4%$147m1.45m−2.1%reduced
QCOM QUALCOMM INCTechnology1.3%$146m2.13m−41%reduced
UNH UNITEDHEALTH GROUP INCHealthcare1.2%$130m929,431–new
ASPEN INSURANCE HOLDINGS LTD no ticker–1.2%$127m2.72m+2.4%added
COR CENCORA INCHealthcare1.1%$125m1.55m+345%added
MAR MARRIOTT INTL INC NEWConsumer Cyclical0.9%$103m1.53m−27%reduced
VRTS VIRTUS INVT PARTNERS INCFinancial Services0.9%$99.8m1.02m+7.0%added
ITRN ITURAN LOCATION AND CONTROLTechnology0.9%$94.3m3.56m−0.4%held
LA QUINTA HLDGS INC no ticker–0.8%$86.9m7.78m+31%added
WWD WOODWARD INCIndustrials0.7%$81.0m1.30m−13%reduced
NAVIGATORS GROUP INC no ticker–0.7%$79.3m818,691−19%reduced
LNN LINDSAY CORPIndustrials0.7%$75.9m1.03m+0.8%added
BID1EUR SOTHEBYS–0.7%$75.8m1.99m−8.9%reduced
SELECT COMFORT CORP no ticker–0.7%$73.3m3.39m−18%reduced
ENS ENERSYSIndustrials0.6%$64.1m926,320+1.0%added
JLL JONES LANG LASALLE INCReal Estate0.6%$62.9m552,774−0.3%held
TKR TIMKEN COIndustrials0.5%$54.4m1.55m−0.1%held
ATUEUR ACTUANT CORP–0.5%$50.8m2.18m+26%added
FWRD FORWARD AIR CORPIndustrials0.4%$45.1m1.04m0.0%held
EVEUR EATON VANCE CORP–0.4%$43.0m1.10m−0.3%held
NCI1EUR NAVIGANT CONSULTING INC–0.4%$38.6m1.91m+0.6%added
TUP TUPPERWARE BRANDS CORP–0.4%$38.3m586,536−0.3%held
8TG THERMON GROUP HLDGS INC–0.3%$34.9m1.77m−9.4%reduced
WCC WESCO INTL INCIndustrials0.3%$34.7m563,787+86%added
SBH SALLY BEAUTY HLDGS INCConsumer Cyclical0.3%$32.2m1.26m+0.7%added

Exited since Q2 2016

4 rows
CHECK POINT SOFTWARE TECH LT no ticker1.7%$176m
DOV DOVER CORP0.9%$90.0m
NUS NU SKIN ENTERPRISES INC0.4%$41.1m
CW CURTISS WRIGHT CORP0.2%$22.3m

Sector mix

  • Financial Services24.8%
  • Unclassified24.4%
  • Technology21.4%
  • Industrials10.9%
  • Healthcare8.7%
  • Consumer Cyclical7.3%
  • Communication Services1.9%
  • Real Estate0.6%

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