WhaleCreep

Vulcan Value Partners 13F holdings, Q1 2020

Long-only investorSEC filingsCompare with another fundHoldings as of 2020-03-31, filed 2020-05-15

Vulcan Value Partners disclosed 40 US equity positions worth $9.6bn in its Q1 2020 13F filing. Its largest position is QRVO at 8.2% of the reported book, followed by SWKS and GOOG. Versus Q4 2019 it opened 4 new positions, added to 20, reduced 16 and exited 18.

$9.6bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
40
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
8.2%
Largest position
The largest single position as a share of the reported equity book.
63.9%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
19
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 2019: 4 new, 20 added, 16 reduced, 18 exited

40 rows
QRVO QORVO INCTechnology8.2%$796m9.87m+20%added
SWKS SKYWORKS SOLUTIONS INCTechnology8.0%$775m8.67m+29%added
GOOG ALPHABET INCCommunication Services8.0%$773m664,486+30%added
HLT HILTON WORLDWIDE HLDGS INCConsumer Cyclical6.8%$659m9.65m+62%added
KKR KKR & CO INCFinancial Services6.8%$653m27.82m−7.6%reduced
AMZN AMAZON COM INCConsumer Cyclical5.8%$562m288,036−12%reduced
CG CARLYLE GROUP INCFinancial Services5.6%$543m25.07m–new
MSFT MICROSOFT CORPTechnology5.3%$510m3.24m+1.3%added
MA MASTERCARD INCFinancial Services4.8%$459m1.90m−14%reduced
V VISA INCFinancial Services4.5%$437m2.71m+3.1%added
JLL JONES LANG LASALLE INCReal Estate4.5%$431m4.27m+529%added
ELV ELEVANCE HEALTH INCHealthcare4.1%$393m1.73m−7.3%reduced
META META PLATFORMS INCCommunication Services4.0%$381m2.29m−8.2%reduced
CACC CREDIT ACCEP CORP MICHFinancial Services3.8%$369m1.44m+343%added
CVS CVS HEALTH CORPHealthcare3.3%$315m5.31m−21%reduced
NVDA NVIDIA CORPORATIONTechnology3.2%$312m1.18m−60%reduced
BKNG BOOKING HOLDINGS INCConsumer Cyclical2.9%$278m206,523+62%added
NOVEUR NATIONAL OILWELL VARCO INC–2.5%$241m24.49m−7.9%reduced
ORCL ORACLE CORPTechnology1.8%$177m3.66m−37%reduced
EG EVEREST GROUP LTDFinancial Services1.0%$96.8m503,105−51%reduced
CWK CUSHMAN WAKEFIELD PLCReal Estate0.9%$86.4m7.36m+4.1%added
COHR COHERENT INCTechnology0.4%$40.1m376,788−46%reduced
WH WYNDHAM HOTELS & RESORTS INCConsumer Cyclical0.4%$35.5m1.13m+209%added
PK PARK HOTELS & RESORTS INCReal Estate0.4%$35.4m4.48m+396%added
ENS ENERSYSIndustrials0.4%$34.1m687,984+7.3%added
MLKN MILLERKNOLL INCConsumer Cyclical0.3%$31.1m1.40m–new
ITRN ITURAN LOCATION AND CONTROLTechnology0.3%$30.6m2.15m+29%added
VRTS VIRTUS INVT PARTNERS INCFinancial Services0.3%$29.2m383,582+15%added
MMI MARCUS & MILLICHAP INCReal Estate0.3%$28.5m1.05m+19%added
CR CRANE COIndustrials0.3%$25.9m527,108+39%added
AXIS CAP HLDGS LTD no ticker–0.3%$25.4m656,625+6.1%added
ACIW ACI WORLDWIDE INCTechnology0.2%$20.5m850,001−18%reduced
LFUS LITTELFUSE INCTechnology0.2%$19.6m146,725+32%added
AYI ACUITY INCIndustrials0.2%$19.1m222,672−13%reduced
KNL KNOLL INC–0.2%$15.8m1.53m–new
TEXAS PAC LD TR no ticker–0.1%$11.9m31,320+72%added
MAR MARRIOTT INTL INC NEWConsumer Cyclical0.0%$101k1,344−100%reduced
WWD WOODWARD INCIndustrials0.0%$6.0k100−79%reduced
MFS1EUR WELBILT INC–0.0%$5.0k1,000–new
BUSD BARNES GROUP INC–0.0%$1.0k30−100%reduced

Exited since Q4 2019

18 rows
MCK MCKESSON CORP2.4%$315m
COR CENCORA INC2.1%$279m
UPS UNITED PARCEL SERVICE INC2.0%$259m
SPGI S&P GLOBAL INC1.7%$227m
BROOKFIELD ASSET MGMT INC no ticker1.6%$213m
SNBRQ SLEEP NUMBER CORP0.6%$78.5m
CARLYLE GROUP L P no ticker0.5%$71.1m
SABR SABRE CORP0.3%$36.9m
CSL CARLISLE COS INC0.2%$26.6m
MSM MSC INDL DIRECT INC0.2%$23.1m
WCC WESCO INTL INC0.2%$20.7m
FTDR FRONTDOOR INC0.1%$17.1m
CDK CDK GLOBAL INC0.1%$13.4m
IWD ISHARES TR0.02%$2.1m
IWN ISHARES TR0.01%$736k
UNH UNITEDHEALTH GROUP INC0.0%$191k
PH PARKER-HANNIFIN CORP0.0%$149k
SGI SOMNIGROUP INTERNATIONAL INC0.0%$28.0k

Sector mix

  • Technology27.8%
  • Financial Services26.8%
  • Consumer Cyclical16.2%
  • Communication Services12.0%
  • Healthcare7.3%
  • Real Estate6.0%
  • Unclassified3.0%
  • Industrials0.8%

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