WhaleCreep

Vulcan Value Partners 13F holdings, Q4 2019

Long-only investorSEC filingsCompare with another fundHoldings as of 2019-12-31, filed 2020-02-14

Vulcan Value Partners disclosed 54 US equity positions worth $13.0bn in its Q4 2019 13F filing. Its largest position is QRVO at 7.4% of the reported book, followed by KKR and SWKS. Versus Q3 2019 it opened 10 new positions, added to 18, reduced 23 and exited 6.

$13.0bn
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.
7.4%
Largest position
The largest single position as a share of the reported equity book.
55.2%
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 Q3 2019: 10 new, 18 added, 23 reduced, 6 exited

50 of 54
QRVO QORVO INCTechnology7.4%$959m8.25m−29%reduced
KKR KKR & CO INCFinancial Services6.7%$878m30.12m+4.3%added
SWKS SKYWORKS SOLUTIONS INCTechnology6.2%$814m6.74m−27%reduced
NVDA NVIDIA CORPORATIONTechnology5.4%$699m2.97m−26%reduced
GOOG ALPHABET INCCommunication Services5.3%$684m511,769+3.6%added
NOVEUR NATIONAL OILWELL VARCO INC–5.1%$666m26.58m−3.3%reduced
HLT HILTON WORLDWIDE HLDGS INCConsumer Cyclical5.1%$662m5.97m+22%added
MA MASTERCARD INCFinancial Services5.0%$656m2.20m+25%added
AMZN AMAZON COM INCConsumer Cyclical4.7%$608m328,879+7.4%added
ELV ELEVANCE HEALTH INCHealthcare4.3%$563m1.87m+5.7%added
META META PLATFORMS INCCommunication Services3.9%$511m2.49m+52%added
MSFT MICROSOFT CORPTechnology3.9%$504m3.19m+11%added
CVS CVS HEALTH CORPHealthcare3.8%$496m6.68m−24%reduced
V VISA INCFinancial Services3.8%$494m2.63m+6.7%added
MAR MARRIOTT INTL INC NEWConsumer Cyclical3.6%$475m3.14m+116%added
MCK MCKESSON CORPHealthcare2.4%$315m2.28m−27%reduced
ORCL ORACLE CORPTechnology2.4%$309m5.83m+3.0%added
EG EVEREST GROUP LTDFinancial Services2.2%$282m1.02m−8.6%reduced
COR CENCORA INCHealthcare2.1%$279m3.28m−5.2%reduced
BKNG BOOKING HOLDINGS INCConsumer Cyclical2.0%$262m127,387−1.9%reduced
UPS UNITED PARCEL SERVICE INCIndustrials2.0%$259m2.21m−22%reduced
SPGI S&P GLOBAL INCFinancial Services1.7%$227m831,837−30%reduced
BROOKFIELD ASSET MGMT INC no ticker–1.6%$213m3.69m−3.3%reduced
CWK CUSHMAN WAKEFIELD PLCReal Estate1.1%$145m7.07m+5.5%added
CACC CREDIT ACCEP CORP MICHFinancial Services1.1%$144m326,037–new
JLL JONES LANG LASALLE INCReal Estate0.9%$118m679,293−1.6%reduced
COHR COHERENT INCTechnology0.9%$116m696,036−13%reduced
SNBRQ SLEEP NUMBER CORPConsumer Cyclical0.6%$78.5m1.60m+34%added
CARLYLE GROUP L P no ticker–0.5%$71.1m2.22m–new
ENS ENERSYSIndustrials0.4%$48.0m641,305−0.4%held
ITRN ITURAN LOCATION AND CONTROLTechnology0.3%$41.9m1.67m+8.2%added
VRTS VIRTUS INVT PARTNERS INCFinancial Services0.3%$40.8m334,876+5.1%added
ACIW ACI WORLDWIDE INCTechnology0.3%$39.1m1.03m−40%reduced
SABR SABRE CORPTechnology0.3%$36.9m1.65m+118%added
AXIS CAP HLDGS LTD no ticker–0.3%$36.8m618,966−83%reduced
AYI ACUITY INCIndustrials0.3%$35.1m254,580−32%reduced
MMI MARCUS & MILLICHAP INCReal Estate0.3%$33.0m885,408+23%added
CR CRANE COIndustrials0.3%$32.7m378,284−10%reduced
CSL CARLISLE COS INCIndustrials0.2%$26.6m164,484+0.4%held
PK PARK HOTELS & RESORTS INCReal Estate0.2%$23.4m903,224–new
MSM MSC INDL DIRECT INCIndustrials0.2%$23.1m294,874−38%reduced
WH WYNDHAM HOTELS & RESORTS INCConsumer Cyclical0.2%$22.9m365,147+93%added
LFUS LITTELFUSE INCTechnology0.2%$21.3m111,417–new
WCC WESCO INTL INCIndustrials0.2%$20.7m349,133−65%reduced
FTDR FRONTDOOR INCConsumer Cyclical0.1%$17.1m360,558–new
TEXAS PAC LD TR no ticker–0.1%$14.3m18,242–new
CDK CDK GLOBAL INC–0.1%$13.4m245,638−67%reduced
BUSD BARNES GROUP INC–0.08%$10.6m170,841–new
IWD ISHARES TR–0.02%$2.1m15,632–new
IWN ISHARES TR–0.01%$736k5,723–new

Exited since Q3 2019

6 rows
REZI RESIDEO TECHNOLOGIES INC1.0%$120m
BID1EUR SOTHEBYS0.0%$118k
TER TERADYNE INC0.0%$45.0k
LSTR LANDSTAR SYS INC0.0%$34.0k
FWRD FORWARD AIR CORP0.0%$29.0k
BLK BLACKROCK INC0.0%$17.0k

Sector mix

  • Technology27.2%
  • Financial Services20.9%
  • Consumer Cyclical16.3%
  • Healthcare12.7%
  • Communication Services9.2%
  • Unclassified7.9%
  • Industrials3.4%
  • Real Estate2.4%

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