{
 "manager": "Vulcan Value Partners",
 "page": "https://www.moatshark.com/m/vulcan-value-partners",
 "form": "13F-HR",
 "period": "2026-06-30",
 "filed": "2026-08-10",
 "previous_period": "2026-03-31",
 "filing_url": "https://www.sec.gov/Archives/edgar/data/1556785/000155678526000016/0001556785-26-000016-index.htm",
 "total_value_usd": 3285170410,
 "note": "Source: SEC filings via moatshark. Values and changes are estimates; not investment advice.",
 "holdings": [
  {
   "company": "Everest Group",
   "ticker": "EG",
   "moatshark_slug": "eg",
   "sector": "Insurance",
   "value_usd": 370414055,
   "shares": 1036906,
   "portfolio_pct": 11.28,
   "previous_pct": 11.8,
   "change": "REDUCE",
   "share_change_pct": -23.9,
   "quarters_held": 8
  },
  {
   "company": "Microsoft",
   "ticker": "MSFT",
   "moatshark_slug": "msft",
   "sector": "Technology",
   "value_usd": 368135303,
   "shares": 986905,
   "portfolio_pct": 11.21,
   "previous_pct": 10.88,
   "change": "REDUCE",
   "share_change_pct": -11,
   "quarters_held": 31
  },
  {
   "company": "Ryan Specialty Holdings",
   "ticker": "RYAN",
   "moatshark_slug": "ryan",
   "sector": "Insurance",
   "value_usd": 298782388,
   "shares": 7912669,
   "portfolio_pct": 9.09,
   "previous_pct": 5.9,
   "change": "ADD",
   "share_change_pct": 20,
   "quarters_held": 4
  },
  {
   "company": "Mastercard",
   "ticker": "MA",
   "moatshark_slug": "ma",
   "sector": "Financials",
   "value_usd": 258320770,
   "shares": 502961,
   "portfolio_pct": 7.86,
   "previous_pct": 5.08,
   "change": "ADD",
   "share_change_pct": 31.3,
   "quarters_held": 53
  },
  {
   "company": "Amazon.com",
   "ticker": "AMZN",
   "moatshark_slug": "amzn",
   "sector": "Consumer discretionary",
   "value_usd": 236613942,
   "shares": 992758,
   "portfolio_pct": 7.2,
   "previous_pct": 8.81,
   "change": "REDUCE",
   "share_change_pct": -37.8,
   "quarters_held": 31
  },
  {
   "company": "Transdigm Group",
   "ticker": "TDG",
   "moatshark_slug": "tdg",
   "sector": "Industrials",
   "value_usd": 227018245,
   "shares": 170429,
   "portfolio_pct": 6.91,
   "previous_pct": 5.66,
   "change": "REDUCE",
   "share_change_pct": -7.5,
   "quarters_held": 25
  },
  {
   "company": "Ares Management",
   "ticker": "ARES",
   "moatshark_slug": "ares",
   "sector": "Financials",
   "value_usd": 211776180,
   "shares": 1902580,
   "portfolio_pct": 6.45,
   "previous_pct": 4.89,
   "change": "ADD",
   "share_change_pct": 12.5,
   "quarters_held": 16
  },
  {
   "company": "TransUnion",
   "ticker": "TRU",
   "moatshark_slug": "tru",
   "sector": "Industrials",
   "value_usd": 195300968,
   "shares": 2707249,
   "portfolio_pct": 5.94,
   "previous_pct": 5.88,
   "change": "REDUCE",
   "share_change_pct": -15.6,
   "quarters_held": 3
  },
  {
   "company": "Alphabet",
   "ticker": "GOOG",
   "moatshark_slug": "goog",
   "sector": "Communication and media",
   "value_usd": 190611642,
   "shares": 539472,
   "portfolio_pct": 5.8,
   "previous_pct": 5.14,
   "change": "REDUCE",
   "share_change_pct": -20.3,
   "quarters_held": 36
  },
  {
   "company": "Visa",
   "ticker": "V",
   "moatshark_slug": "v",
   "sector": "Financials",
   "value_usd": 158942618,
   "shares": 463268,
   "portfolio_pct": 4.84,
   "previous_pct": 5.12,
   "change": "REDUCE",
   "share_change_pct": -27.6,
   "quarters_held": 53
  },
  {
   "company": "TPG",
   "ticker": "TPG",
   "moatshark_slug": "tpg",
   "sector": "Financials",
   "value_usd": 95773504,
   "shares": 2361862,
   "portfolio_pct": 2.92,
   "previous_pct": 2.13,
   "change": "ADD",
   "share_change_pct": 18.9,
   "quarters_held": 6
  },
  {
   "company": "Medpace Holdings",
   "ticker": "MEDP",
   "moatshark_slug": "medp",
   "sector": "Health care",
   "value_usd": 75065675,
   "shares": 141743,
   "portfolio_pct": 2.28,
   "previous_pct": 2.58,
   "change": "REDUCE",
   "share_change_pct": -30.2,
   "quarters_held": 21
  },
  {
   "company": "Elevance Health",
   "ticker": "ELV",
   "moatshark_slug": "elv",
   "sector": "Health care",
   "value_usd": 60280765,
   "shares": 155873,
   "portfolio_pct": 1.83,
   "previous_pct": 2.3,
   "change": "REDUCE",
   "share_change_pct": -47.5,
   "quarters_held": 16
  },
  {
   "company": "ServiceNow",
   "ticker": "NOW",
   "moatshark_slug": "now",
   "sector": "Technology",
   "value_usd": 57067236,
   "shares": 574811,
   "portfolio_pct": 1.74,
   "previous_pct": 1.48,
   "change": "ADD",
   "share_change_pct": 7.7,
   "quarters_held": 2
  },
  {
   "company": "IQVIA Holdings",
   "ticker": "IQV",
   "moatshark_slug": "iqv",
   "sector": "Health care",
   "value_usd": 50209376,
   "shares": 259856,
   "portfolio_pct": 1.53,
   "previous_pct": 1.12,
   "change": "ADD",
   "share_change_pct": 4.7,
   "quarters_held": 5
  },
  {
   "company": "Carmax",
   "ticker": "KMX",
   "moatshark_slug": "kmx",
   "sector": "Consumer discretionary",
   "value_usd": 48269424,
   "shares": 912638,
   "portfolio_pct": 1.47,
   "previous_pct": 2.43,
   "change": "REDUCE",
   "share_change_pct": -58.6,
   "quarters_held": 10
  },
  {
   "company": "Fiserv",
   "ticker": "FISV",
   "moatshark_slug": "fisv",
   "sector": "Financials",
   "value_usd": 43848983,
   "shares": 893965,
   "portfolio_pct": 1.33,
   "previous_pct": 1.62,
   "change": "REDUCE",
   "share_change_pct": -18.3,
   "quarters_held": 4
  },
  {
   "company": "Nice",
   "ticker": "NICE",
   "moatshark_slug": "nice",
   "sector": "Technology",
   "value_usd": 43464548,
   "shares": 478421,
   "portfolio_pct": 1.32,
   "previous_pct": 1.67,
   "change": "REDUCE",
   "share_change_pct": -16.4,
   "quarters_held": 15
  },
  {
   "company": "HEICO Ord",
   "ticker": "HEI.A",
   "moatshark_slug": "hei-a",
   "sector": "Industrials",
   "value_usd": 39645409,
   "shares": 153718,
   "portfolio_pct": 1.21,
   "previous_pct": 1,
   "change": "REDUCE",
   "share_change_pct": -13.9,
   "quarters_held": 24
  },
  {
   "company": "Jones Lang LaSalle",
   "ticker": "JLL",
   "moatshark_slug": "jll",
   "sector": "Real estate",
   "value_usd": 29835167,
   "shares": 96258,
   "portfolio_pct": 0.91,
   "previous_pct": 0.88,
   "change": "REDUCE",
   "share_change_pct": -12.1,
   "quarters_held": 17
  },
  {
   "company": "UnitedHealth Group",
   "ticker": "UNH",
   "moatshark_slug": "unh",
   "sector": "Health care",
   "value_usd": 27975640,
   "shares": 67309,
   "portfolio_pct": 0.85,
   "previous_pct": 6.55,
   "change": "REDUCE",
   "share_change_pct": -92.6,
   "quarters_held": 7
  },
  {
   "company": "Salesforce",
   "ticker": "CRM",
   "moatshark_slug": "crm",
   "sector": "Technology",
   "value_usd": 25694277,
   "shares": 164013,
   "portfolio_pct": 0.78,
   "previous_pct": 0.97,
   "change": "REDUCE",
   "share_change_pct": -16.7,
   "quarters_held": 25
  },
  {
   "company": "Colliers International Group",
   "ticker": "CIGI",
   "moatshark_slug": "cigi",
   "sector": "Real estate",
   "value_usd": 19874992,
   "shares": 211910,
   "portfolio_pct": 0.6,
   "previous_pct": 0.72,
   "change": "REDUCE",
   "share_change_pct": -17,
   "quarters_held": 24
  },
  {
   "company": "ABM Industries",
   "ticker": "ABM",
   "moatshark_slug": "abm",
   "sector": "Industrials",
   "value_usd": 19844257,
   "shares": 448559,
   "portfolio_pct": 0.6,
   "previous_pct": 0.64,
   "change": "REDUCE",
   "share_change_pct": -28.8,
   "quarters_held": 24
  },
  {
   "company": "Millerknoll",
   "ticker": "MLKN",
   "moatshark_slug": "mlkn",
   "sector": "Other",
   "value_usd": 17148563,
   "shares": 838151,
   "portfolio_pct": 0.52,
   "previous_pct": 0.51,
   "change": "REDUCE",
   "share_change_pct": -36.7,
   "quarters_held": 26
  },
  {
   "company": "Qorvo",
   "ticker": "QRVO",
   "moatshark_slug": "qrvo",
   "sector": "Technology",
   "value_usd": 16911250,
   "shares": 181315,
   "portfolio_pct": 0.51,
   "previous_pct": 0.55,
   "change": "REDUCE",
   "share_change_pct": -32.5,
   "quarters_held": 40
  },
  {
   "company": "Equifax",
   "ticker": "EFX",
   "moatshark_slug": "efx",
   "sector": "Industrials",
   "value_usd": 14403523,
   "shares": 90748,
   "portfolio_pct": 0.44,
   "previous_pct": null,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "company": "Genpact",
   "ticker": "G",
   "moatshark_slug": "g",
   "sector": "Industrials",
   "value_usd": 14343653,
   "shares": 521587,
   "portfolio_pct": 0.44,
   "previous_pct": 0.7,
   "change": "REDUCE",
   "share_change_pct": -26.6,
   "quarters_held": 13
  },
  {
   "company": "Standardaero",
   "ticker": "SARO",
   "moatshark_slug": "saro",
   "sector": "Industrials",
   "value_usd": 13484115,
   "shares": 450287,
   "portfolio_pct": 0.41,
   "previous_pct": 0.49,
   "change": "REDUCE",
   "share_change_pct": -37.2,
   "quarters_held": 3
  },
  {
   "company": "Prog Holdings",
   "ticker": "PRG",
   "moatshark_slug": "prg",
   "sector": "Industrials",
   "value_usd": 13100485,
   "shares": 281066,
   "portfolio_pct": 0.4,
   "previous_pct": 0.43,
   "change": "REDUCE",
   "share_change_pct": -50.4,
   "quarters_held": 23
  },
  {
   "company": "Fortune Brands Innovations",
   "ticker": "FBIN",
   "moatshark_slug": "fbin",
   "sector": "Other",
   "value_usd": 11792427,
   "shares": 214798,
   "portfolio_pct": 0.36,
   "previous_pct": 0.35,
   "change": "REDUCE",
   "share_change_pct": -37.5,
   "quarters_held": 7
  },
  {
   "company": "Badger Meter",
   "ticker": "BMI",
   "moatshark_slug": "bmi",
   "sector": "Industrials",
   "value_usd": 10191378,
   "shares": 68684,
   "portfolio_pct": 0.31,
   "previous_pct": null,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "company": "Littelfuse",
   "ticker": "LFUS",
   "moatshark_slug": "lfus",
   "sector": "Industrials",
   "value_usd": 7944681,
   "shares": 17448,
   "portfolio_pct": 0.24,
   "previous_pct": 0.7,
   "change": "REDUCE",
   "share_change_pct": -77.7,
   "quarters_held": 27
  },
  {
   "company": "Ituran Location and Control",
   "ticker": "ITRN",
   "moatshark_slug": "itrn",
   "sector": "Industrials",
   "value_usd": 7566930,
   "shares": 124028,
   "portfolio_pct": 0.23,
   "previous_pct": 0.64,
   "change": "REDUCE",
   "share_change_pct": -74.9,
   "quarters_held": 53
  },
  {
   "company": "Veeva Systems",
   "ticker": "VEEV",
   "moatshark_slug": "veev",
   "sector": "Technology",
   "value_usd": 3769463,
   "shares": 21240,
   "portfolio_pct": 0.11,
   "previous_pct": null,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "company": "Ishares Tr",
   "ticker": "EFA",
   "moatshark_slug": "efa",
   "sector": null,
   "value_usd": 1748578,
   "shares": 7011,
   "portfolio_pct": 0.05,
   "previous_pct": null,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "company": "Park Hotels & Resorts",
   "ticker": "PK",
   "moatshark_slug": "pk",
   "sector": "Consumer discretionary",
   "value_usd": 0,
   "shares": 0,
   "portfolio_pct": 0,
   "previous_pct": 0.33,
   "change": "EXIT",
   "share_change_pct": null,
   "quarters_held": 26
  }
 ]
}