# Vulcan Value Partners portfolio: Q2 2026 13F holdings

C.T. Fitzpatrick’s Vulcan Value Partners: $3.3bn in 36 US holdings at Q2 2026, with buys and sells.

In Q2 2026, Vulcan Value Partners held 36 US-listed stocks worth $3.3bn. Its biggest move was cutting UnitedHealth Group (93% fewer shares, now 0.8%), followed by adding to Ryan Specialty Holdings (20% more shares, now 9.1%). It started 4 new positions and sold out of 1. Its largest holding is Everest Group at 11%.

13F for the quarter ending 2026-06-30, filed 2026-08-10 ([filing](https://www.sec.gov/Archives/edgar/data/1556785/000155678526000016/0001556785-26-000016-index.htm)). $3.3bn in US-listed holdings.

## 13F holdings

| Company | Value | Portfolio | Change | Q1 2026 |
| --- | --- | --- | --- | --- |
| Everest Group (EG) | $370m | 11.3% | Trimmed -24% | 11.8% |
| Microsoft (MSFT) | $368m | 11.2% | Trimmed -11% | 10.9% |
| Ryan Specialty Holdings (RYAN) | $299m | 9.1% | Added +20% | 5.9% |
| Mastercard (MA) | $258m | 7.9% | Added +31% | 5.1% |
| Amazon.com (AMZN) | $237m | 7.2% | Trimmed -38% | 8.8% |
| Transdigm Group (TDG) | $227m | 6.9% | Trimmed -7.5% | 5.7% |
| Ares Management (ARES) | $212m | 6.5% | Added +13% | 4.9% |
| TransUnion (TRU) | $195m | 5.9% | Trimmed -16% | 5.9% |
| Alphabet (GOOG) | $191m | 5.8% | Trimmed -20% | 5.1% |
| Visa (V) | $159m | 4.8% | Trimmed -28% | 5.1% |
| TPG (TPG) | $95.8m | 2.9% | Added +19% | 2.1% |
| Medpace Holdings (MEDP) | $75.1m | 2.3% | Trimmed -30% | 2.6% |
| Elevance Health (ELV) | $60.3m | 1.8% | Trimmed -47% | 2.3% |
| ServiceNow (NOW) | $57.1m | 1.7% | Added +7.7% | 1.5% |
| IQVIA Holdings (IQV) | $50.2m | 1.5% | Added +4.7% | 1.1% |
| Carmax (KMX) | $48.3m | 1.5% | Trimmed -59% | 2.4% |
| Fiserv (FISV) | $43.8m | 1.3% | Trimmed -18% | 1.6% |
| Nice (NICE) | $43.5m | 1.3% | Trimmed -16% | 1.7% |
| HEICO Ord (HEI.A) | $39.6m | 1.2% | Trimmed -14% | 1.0% |
| Jones Lang LaSalle (JLL) | $29.8m | 0.9% | Trimmed -12% | 0.9% |
| UnitedHealth Group (UNH) | $28.0m | 0.8% | Trimmed -93% | 6.5% |
| Salesforce (CRM) | $25.7m | 0.8% | Trimmed -17% | 1.0% |
| Colliers International Group (CIGI) | $19.9m | 0.6% | Trimmed -17% | 0.7% |
| ABM Industries (ABM) | $19.8m | 0.6% | Trimmed -29% | 0.6% |
| Millerknoll (MLKN) | $17.1m | 0.5% | Trimmed -37% | 0.5% |
| Qorvo (QRVO) | $16.9m | 0.5% | Trimmed -32% | 0.6% |
| Equifax (EFX) | $14.4m | 0.4% | New | – |
| Genpact (G) | $14.3m | 0.4% | Trimmed -27% | 0.7% |
| Standardaero (SARO) | $13.5m | 0.4% | Trimmed -37% | 0.5% |
| Prog Holdings (PRG) | $13.1m | 0.4% | Trimmed -50% | 0.4% |
| Fortune Brands Innovations (FBIN) | $11.8m | 0.4% | Trimmed -37% | 0.3% |
| Badger Meter (BMI) | $10.2m | 0.3% | New | – |
| Littelfuse (LFUS) | $7.9m | 0.2% | Trimmed -78% | 0.7% |
| Ituran Location and Control (ITRN) | $7.6m | 0.2% | Trimmed -75% | 0.6% |
| Veeva Systems (VEEV) | $3.8m | 0.1% | New | – |
| Ishares Tr (EFA) | $1.7m | 0.1% | New | – |
| Park Hotels & Resorts (PK) | – | – | Sold out | 0.3% |

## Vulcan Value Partners Fund (as at 2026-07-31)

| Company | Country | Fund weight | Change |
| --- | --- | --- | --- |
| Ryan Specialty Holdings (RYAN) | US | 7.0% | Added +22% |
| Microsoft (MSFT) | US | 6.8% | Trimmed -15% |
| Mastercard (MA) | US | 6.6% | Added +101% |
| SAP (SAP) | DE | 6.3% | Trimmed -13% |
| Ares Management (ARES) | US | 6.1% | Trimmed -14% |
| TPG (TPG) | US | 6.0% | Trimmed -3.4% |
| ServiceNow (NOW) | US | 4.9% | Trimmed -14% |
| Amazon.com (AMZN) | US | 4.7% | Trimmed -11% |
| TransUnion (TRU) | US | 4.5% | Added +0.2% |
| Equifax (EFX) | US | 4.4% | New |
| Everest Group (EG) | BM | 4.4% | Trimmed -37% |
| TransDigm Group (TDG) | US | 4.0% | Added +39% |
| Alphabet (GOOG) | US | 4.0% | Trimmed -17% |
| Elevance Health (ELV) | US | 3.6% | Trimmed -48% |
| IQVIA Holdings (IQV) | US | 3.5% | Added +1.6% |
| Fiserv (FISV) | US | 3.5% | Trimmed -18% |
| Nice (NICE) | IL | 3.1% | Trimmed -14% |
| Visa (V) | US | 2.9% | Trimmed -15% |
| Medpace Holdings (MEDP) | US | 2.5% | Trimmed -55% |
| HEICO (HEI.A) | US | 2.4% | Trimmed -15% |
| CarMax (KMX) | US | 2.0% | Trimmed -70% |
| Salesforce (CRM) | US | 1.9% | Trimmed -17% |
| Jones Lang LaSalle (JLL) | US | 1.9% | Trimmed -16% |
| UnitedHealth Group (UNH) | US | 1.6% | Trimmed -73% |
| null |  | – | Sold out |
| null |  | – | Sold out |

## Vulcan Value Partners Small Cap Fund (as at 2026-07-31)

| Company | Country | Fund weight | Change |
| --- | --- | --- | --- |
| Ryan Specialty Holdings (RYAN) | US | 6.9% | Trimmed -16% |
| Everest Group (EG) | BM | 6.4% | Trimmed -19% |
| MillerKnoll (MLKN) | US | 6.1% | Trimmed -21% |
| TransUnion (TRU) | US | 5.3% | Trimmed -15% |
| Premium Brands Holdings (PBH) | CA | 5.0% | Trimmed -14% |
| Ibstock (IBST) | GB | 5.0% | Trimmed -15% |
| TPG (TPG) | US | 4.9% | New |
| Savills (SVS) | GB | 4.6% | Trimmed -19% |
| Medpace Holdings (MEDP) | US | 4.5% | Trimmed -21% |
| Colliers International Group (CIGI) | CA | 4.4% | Added +12% |
| StandardAero (SARO) | US | 4.3% | New |
| PROG Holdings (PRG) | US | 4.0% | Trimmed -36% |
| Sdiptech (SDIPB) | SE | 3.7% | Trimmed -34% |
| CTS Eventim AG & Co (EVD) | DE | 3.5% | Added +16% |
| ABM Industries (ABM) | US | 3.5% | Trimmed -28% |
| Fortune Brands Innovations (FBIN) | US | 3.5% | Trimmed -25% |
| Forterra (FORT) | GB | 3.4% | Trimmed -12% |
| Jones Lang LaSalle (JLL) | US | 3.3% | Added +50% |
| Genpact (G) | BM | 3.1% | Trimmed -27% |
| Qorvo | US | 2.8% | Trimmed -15% |
| Littelfuse (LFUS) | US | 2.4% | Trimmed -21% |
| CarMax (KMX) | US | 2.2% | Trimmed -65% |
| Ituran Location and Control Lt (ITRN) | IL | 2.2% | Trimmed -45% |
| Badger Meter (BMI) | US | 1.8% | Trimmed -53% |
| ISS (ISS) | DK | 1.0% | Trimmed -11% |
| null |  | – | Sold out |
| null |  | – | Sold out |

Source: SEC filings, via moatshark (https://www.moatshark.com/m/vulcan-value-partners). Values traded and returns are estimates. Not investment advice. Built 2026-10-21.