WhaleCreep

Vulcan Value Partners 13F holdings, Q1 2019

Long-only investorSEC filingsCompare with another fundHoldings as of 2019-03-31, filed 2019-05-16

Vulcan Value Partners disclosed 54 US equity positions worth $11.6bn in its Q1 2019 13F filing. Its largest position is MA at 6.7% of the reported book, followed by QRVO and HLT. Versus Q4 2018 it opened 2 new positions, added to 8, reduced 40 and exited 3.

$11.6bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
54
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
6.7%
Largest position
The largest single position as a share of the reported equity book.
53.7%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
24
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 2018: 2 new, 8 added, 40 reduced, 3 exited

50 of 54
MA MASTERCARD INCFinancial Services6.7%$772m3.28m−11%reduced
QRVO QORVO INCTechnology6.6%$766m10.68m−7.3%reduced
HLT HILTON WORLDWIDE HLDGS INCConsumer Cyclical6.6%$766m9.21m−8.9%reduced
SWKS SKYWORKS SOLUTIONS INCTechnology6.0%$691m8.38m−13%reduced
KKR KKR & CO INCFinancial Services5.7%$659m28.07m−4.4%reduced
NOVEUR NATIONAL OILWELL VARCO INC–4.9%$565m21.20m−2.4%reduced
AMZN AMAZON COM INCConsumer Cyclical4.8%$553m310,602+22%added
MCK MCKESSON CORPHealthcare4.3%$494m4.22m−6.1%reduced
V VISA INCFinancial Services4.2%$488m3.13m−8.9%reduced
GOOG ALPHABET INCCommunication Services4.1%$476m405,967−10%reduced
UPS UNITED PARCEL SERVICE INCIndustrials4.0%$458m4.10m−9.6%reduced
CVS CVS HEALTH CORPHealthcare3.7%$429m7.96m+57%added
NVDA NVIDIA CORPORATIONTechnology3.5%$410m2.29m–new
SPGI S&P GLOBAL INCFinancial Services3.3%$384m1.82m+1.7%added
MSFT MICROSOFT CORPTechnology3.3%$383m3.25m−3.0%reduced
PH PARKER-HANNIFIN CORPIndustrials3.1%$363m2.11m−26%reduced
AXIS CAP HLDGS LTD no ticker–2.8%$320m5.85m−7.2%reduced
META META PLATFORMS INCCommunication Services2.7%$311m1.87m−16%reduced
TER TERADYNE INCTechnology2.6%$306m7.69m−38%reduced
EG EVEREST GROUP LTDFinancial Services2.5%$285m1.32m−8.5%reduced
ORCL ORACLE CORPTechnology1.9%$226m4.20m−45%reduced
MAR MARRIOTT INTL INC NEWConsumer Cyclical1.7%$197m1.57m–new
COR CENCORA INCHealthcare1.7%$195m2.46m−39%reduced
COHR COHERENT INCTechnology1.5%$172m1.21m−0.7%reduced
CWK CUSHMAN WAKEFIELD PLCReal Estate1.3%$149m8.37m+7.3%added
BID1EUR SOTHEBYS–1.0%$119m3.15m+32%added
JLL JONES LANG LASALLE INCReal Estate1.0%$113m730,107−21%reduced
ACIW ACI WORLDWIDE INCTechnology0.5%$61.9m1.88m−38%reduced
ITRN ITURAN LOCATION AND CONTROLTechnology0.5%$60.8m1.78m−12%reduced
AYI ACUITY INCIndustrials0.5%$60.6m505,320−8.9%reduced
DESPEGAR COM CORP no ticker–0.5%$53.5m3.59m−16%reduced
SNBRQ SLEEP NUMBER CORPConsumer Cyclical0.4%$51.4m1.09m−60%reduced
VRTS VIRTUS INVT PARTNERS INCFinancial Services0.4%$48.0m491,908+26%added
FTDR FRONTDOOR INCConsumer Cyclical0.4%$42.3m1.23m−15%reduced
WCC WESCO INTL INCIndustrials0.3%$39.1m736,817−7.4%reduced
MSM MSC INDL DIRECT INCIndustrials0.3%$34.3m414,435−10%reduced
SABR SABRE CORPTechnology0.3%$32.0m1.50m+20%added
CSL CARLISLE COS INCIndustrials0.3%$30.0m244,371−29%reduced
CR CRANE COIndustrials0.2%$24.0m283,204+107582%added
WWD WOODWARD INCIndustrials0.1%$12.0m125,965−59%reduced
VSMEUR VERSUM MATLS INC–0.0%$79.0k1,569−100%reduced
SGI SOMNIGROUP INTERNATIONAL INCConsumer Cyclical0.0%$53.0k920−67%reduced
AZO AUTOZONE INCConsumer Cyclical0.0%$34.0k330.0%held
LSTR LANDSTAR SYS INCIndustrials0.0%$33.0k298−60%reduced
ORLY OREILLY AUTOMOTIVE INCConsumer Cyclical0.0%$28.0k710.0%held
BNY BANK OF NY MELLON CORPFinancial Services0.0%$27.0k532−96%reduced
STT STATE STR CORPFinancial Services0.0%$25.0k383−100%reduced
CHH CHOICE HOTELS INTL INCConsumer Cyclical0.0%$23.0k2980.0%held
CAH CARDINAL HEALTH INCHealthcare0.0%$22.0k465−1.5%reduced
NTRS NORTHERN TR CORPFinancial Services0.0%$20.0k226−97%reduced

Exited since Q4 2018

3 rows
IWD ISHARES TR0.03%$3.4m
AVGO BROADCOM INC0.0%$48.0k
BLK BLACKROCK INC0.0%$40.0k

Sector mix

  • Technology26.8%
  • Financial Services22.7%
  • Consumer Cyclical13.9%
  • Healthcare9.6%
  • Unclassified9.1%
  • Industrials8.8%
  • Communication Services6.8%
  • Real Estate2.3%

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