Fiduciary Management Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Fiduciary Management Inc. reported 66 stock positions worth $10.4 billion. Its top holding was Booking (BKNG) at 4.9% of the portfolio, followed by Ferguson Enterprises (FERG, 4.4%) and Aramark (ARMK, 4.3%). Compared with Q4 2024, it opened 2 new positions, sold out of 6, added to 25 and reduced 39. The biggest buy was SLB (SLB, shares +59%) and the biggest sale an exit from Beacon Roofing Supply (BECN).
- Most Recent 13F
- Q2 2026
- Location
- MILWAUKEE, WI
- CIK
- 0000764532
- Portfolio Value
- $10.4B (Q1 2025)
- SEC Filing
- 0000764532-25-000008 ↗ filed May 14, 2025
Holdings Value
Holdings 66 stocks · $10.4B
| BKNG Booking Holdings Inc. | 4.85% | 109,030 | $502.3M | Reduce -3.0% |
| FERG Ferguson Enterprises Inc. | 4.42% | 2,854,720 | $457.4M | Add +2.3% |
| ARMK Aramark | 4.35% | 13,037,630 | $450.1M | Add +13.8% |
| SCHW Schwab (charles) Corp. | 3.50% | 4,631,869 | $362.6M | Reduce -3.1% |
| G Genpact Ltd. | 3.39% | 6,957,447 | $350.5M | Reduce -23.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 3.38% | 656,270 | $349.5M | Reduce -4.2% |
| SONY Sony Group Corp. - SP ADR | 2.42% | 9,853,055 | $250.2M | Reduce -4.5% |
| UNH Unitedhealth Group Inc. | 2.39% | 472,710 | $247.6M | Add +13.2% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 2.35% | 5,821,766 | $243.3M | Add +58.9% |
| PGR Progressive Corp. | 2.35% | 857,938 | $242.8M | Reduce -3.1% |
| CARR Carrier Global Corp. | 2.25% | 3,673,206 | $232.9M | Add +14.0% |
| AVY Avery Dennison Corp. | 2.22% | 1,292,477 | $230.0M | Reduce -3.4% |
| MAS Masco Corp. | 2.13% | 3,173,672 | $220.7M | Reduce -3.0% |
| DGX Quest Diagnostics Inc. | 2.05% | 1,251,402 | $211.7M | Reduce -3.9% |
| GOOGL Alphabet Inc. Class A | 2.04% | 1,362,721 | $210.7M | Reduce -3.4% |
| KMX Carmax Inc. | 2.00% | 2,651,730 | $206.6M | Reduce -3.9% |
| UL Unilever PLC | 1.99% | 3,466,906 | $206.5M | Reduce -4.7% |
| BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC | 1.85% | 1,674,420 | $191.1M | Reduce -16.6% |
| PHG Koninklijke Philips NVR- NY | 1.84% | 7,515,737 | $190.9M | Add +21.7% |
| SYY Sysco Corp. | 1.80% | 2,480,597 | $186.1M | Reduce -3.6% |
| CSX CSX Corp. | 1.78% | 6,273,406 | $184.6M | Add +13.6% |
| CSL Carlisle Cos Inc. | 1.76% | 535,890 | $182.5M | Reduce -0.9% |
| CCEP Coca-Cola Europacific Partne | 1.72% | 2,045,406 | $178.0M | Reduce -0.3% |
| HSIC Henry Schein Inc. | 1.63% | 2,461,548 | $168.6M | Reduce -1.1% |
| DCI Donaldson Co. Inc. | 1.62% | 2,499,756 | $167.6M | Add +13.2% |
| ORLY O'reilly Automotive Inc. | 1.61% | 116,122 | $166.4M | Reduce -4.6% |
| VVV Valvoline Inc. | 1.60% | 4,769,346 | $166.0M | Add +13.0% |
| SKX Skechers USA Inc. Class A | 1.55% | 2,833,785 | $160.9M | Add +12.9% |
| ARW Arrow Electronics Inc. | 1.54% | 1,536,384 | $159.5M | Reduce -0.8% |
| FCFS Firstcash Holdings Inc. | 1.51% | 1,295,041 | $155.8M | Reduce -0.7% |
| FMS Fresenius Medical Care-ADR | 1.43% | 5,950,011 | $148.2M | Reduce -5.7% |
| SSD Simpson Manufacturing Co. Inc. | 1.39% | 916,152 | $143.9M | Reduce -0.7% |
| NSIT Insight Enterprises Inc. | 1.38% | 949,243 | $142.4M | Add +17.1% |
| RHI Robert Half Inc. | 1.36% | 2,576,782 | $140.6M | Add +14.4% |
| PRI Primerica Inc. | 1.35% | 490,923 | $139.7M | Add +2.8% |
| FBIN Fortune Brands Innovations I | 1.35% | 2,291,860 | $139.5M | Add +12.8% |
| WTM White Mountains Insurance GP | 1.34% | 71,795 | $138.3M | Add +46.2% |
| CNM Core & Main Inc. Class A | 1.33% | 2,841,734 | $137.3M | Add +0.3% |
| GTES Gates Industrial Corp. UK Ltd. | 1.29% | 7,266,385 | $133.8M | Add +0.6% |
| RYAAY Ryanair Holdings PLC-SP ADR | 1.26% | 3,069,928 | $130.1M | Reduce -1.3% |
| OMF Onemain Holdings Inc. | 1.25% | 2,647,875 | $129.4M | Add +21.8% |
| MCHP Microchip Technology Inc. | 1.21% | 2,595,057 | $125.6M | Add +24.6% |
| HLI Houlihan Lokey Inc. | 1.18% | 754,941 | $121.9M | Reduce -37.6% |
| PLXS Plexus Corp. | 1.16% | 937,951 | $120.2M | Reduce -0.7% |
| CDW CDW Corp. | 1.11% | 718,787 | $115.2M | Reduce -1.8% |
| ZION Zions Bancorp NA | 1.10% | 2,291,550 | $114.3M | Reduce -0.1% |
| ATR Aptargroup Inc. | 1.10% | 767,636 | $113.9M | Add +40.8% |
| ALLE Allegion PLC | 1.09% | 868,686 | $113.3M | Reduce -2.5% |
| NVT Nvent Electric PLC | 1.07% | 2,120,222 | $111.1M | Add +38.1% |
| SNN Smith & Nephew PLC -Spon ADR | 1.03% | 3,747,726 | $106.3M | Reduce -6.3% |
| DLTR Dollar Tree Inc. | 1.02% | 1,407,810 | $105.7M | Reduce -2.6% |
| HAYW Hayward Holdings Inc. | 0.90% | 6,709,914 | $93.4M | Add +63.0% |
| BLK BlackRock Inc. | 0.80% | 87,891 | $83.2M | Reduce -37.0% |
| TKR Timken Co. | 0.80% | 1,147,819 | $82.5M | Add +0.9% |
| ICLR Icon PLC | 0.73% | 433,425 | $75.8M | Reduce -2.4% |
| AIT Applied Industrial Tech Inc. | 0.51% | 236,523 | $53.3M | Reduce -2.8% |
| CTS CTS Corp. | 0.48% | 1,192,328 | $49.5M | Reduce -1.3% |
| IVV iShares Core S&P 500 ETF | 0.02% | 4,113 | $2.3M | Reduce -20.4% |
| WEIGF Weir PLC filed as Weir Group PLC | 0.02% | 68,905 | $2.1M | Reduce -0.7% |
| SDXAY Sodexo-Sponsored ADR | 0.01% | 121,693 | $1.6M | Add +16.0% |
| BMRRY B&M European Value-Unsp ADR filed as B AND M EUROPEAN VALUEUNSP ADR | 0.01% | 83,202 | $1.1M | Add +1.8% |
| ASHTY Ashtead Group PLC-Unspon ADR | 0.01% | 4,747 | $1.0M | New |
| IJR iShares Core S&P Small-Cap E | 0.01% | 7,135 | $746K | Reduce -46.1% |
| IFJPY Informa PLC-SP ADR | 0.00% | 11,252 | $236K | New |
| RHHBY Roche Holdings Ltd.-Spons ADR | 0.00% | 5,726 | $236K | Reduce -4.4% |
| EDNMY Edenred SA-Unsp ADR | 0.00% | 11,780 | $192K | Reduce -4.7% |
Portfolio Sells Q4 2024 → Q1 2025
| BECN Beacon Roofing Supply Inc. | Sold out | 0.00% | −1.21 |
| MU Micron Technology Inc. | Sold out | 0.00% | −1.13 |
| TJX TJX Companies Inc. | Sold out | 0.00% | −0.80 |
| HLI Houlihan Lokey Inc. | Reduce -37.6% | 1.18% | −0.78 |
| TRS Trimas Corp. | Sold out | 0.00% | −0.60 |
| BLK BlackRock Inc. | Reduce -37.0% | 0.80% | −0.53 |
| GOOGL Alphabet Inc. Class A | Reduce -3.4% | 2.04% | −0.45 |
| BKNG Booking Holdings Inc. | Reduce -3.0% | 4.85% | −0.36 |
| G Genpact Ltd. | Reduce -23.9% | 3.39% | −0.28 |
| PLXS Plexus Corp. | Reduce -0.7% | 1.16% | −0.22 |
| ICLR Icon PLC | Reduce -2.4% | 0.73% | −0.14 |
| CTS CTS Corp. | Reduce -1.3% | 0.48% | −0.12 |
| AVY Avery Dennison Corp. | Reduce -3.4% | 2.22% | −0.11 |
| KMX Carmax Inc. | Reduce -3.9% | 2.00% | −0.11 |
| CSL Carlisle Cos Inc. | Reduce -0.9% | 1.76% | −0.10 |
| ARW Arrow Electronics Inc. | Reduce -0.8% | 1.54% | −0.09 |
| MAS Masco Corp. | Reduce -3.0% | 2.13% | −0.08 |
| CDW CDW Corp. | Reduce -1.8% | 1.11% | −0.08 |
| ZION Zions Bancorp NA | Reduce -0.1% | 1.10% | −0.06 |
| SYY Sysco Corp. | Reduce -3.6% | 1.80% | −0.04 |
| SSD Simpson Manufacturing Co. Inc. | Reduce -0.7% | 1.39% | −0.04 |
| AIT Applied Industrial Tech Inc. | Reduce -2.8% | 0.51% | −0.03 |
| DEO Diageo PLC-Sponsored ADR | Sold out | 0.00% | −0.01 |
| RYAAY Ryanair Holdings PLC-SP ADR | Reduce -1.3% | 1.26% | −0.01 |
| IJR iShares Core S&P Small-Cap E | Reduce -46.1% | 0.01% | −0.01 |
| IVV iShares Core S&P 500 ETF | Reduce -20.4% | 0.02% | −0.01 |
| IWV iShares Russell 3000 ETF | Sold out | 0.00% | −0.01 |
| EDNMY Edenred SA-Unsp ADR | Reduce -4.7% | 0.00% | 0.00 |
| RHHBY Roche Holdings Ltd.-Spons ADR | Reduce -4.4% | 0.00% | +0.00 |
| WEIGF Weir PLC | Reduce -0.7% | 0.02% | +0.00 |
| ALLE Allegion PLC | Reduce -2.5% | 1.09% | +0.01 |
| DLTR Dollar Tree Inc. | Reduce -2.6% | 1.02% | +0.01 |
| HSIC Henry Schein Inc. | Reduce -1.1% | 1.63% | +0.02 |
| UL Unilever PLC | Reduce -4.7% | 1.99% | +0.07 |
| FMS Fresenius Medical Care-ADR | Reduce -5.7% | 1.43% | +0.10 |
| SNN Smith & Nephew PLC -Spon ADR | Reduce -6.3% | 1.03% | +0.11 |
| BJ Bj's Wholesale Club Holdings | Reduce -16.6% | 1.85% | +0.17 |
| SCHW Schwab (charles) Corp. | Reduce -3.1% | 3.50% | +0.20 |
| DGX Quest Diagnostics Inc. | Reduce -3.9% | 2.05% | +0.21 |
| FCFS Firstcash Holdings Inc. | Reduce -0.7% | 1.51% | +0.25 |
| CCEP Coca-Cola Europacific Partne | Reduce -0.3% | 1.72% | +0.25 |
| ORLY O'reilly Automotive Inc. | Reduce -4.6% | 1.61% | +0.26 |
| PGR Progressive Corp. | Reduce -3.1% | 2.35% | +0.37 |
| SONY Sony Group Corp. - SP ADR | Reduce -4.5% | 2.42% | +0.38 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -4.2% | 3.38% | +0.48 |
Portfolio Buys Q4 2024 → Q1 2025
| SLB SLB Ltd. | Add +58.9% | 2.35% | +1.04 |
| WTM White Mountains Insurance GP | Add +46.2% | 1.34% | +0.44 |
| UNH Unitedhealth Group Inc. | Add +13.2% | 2.39% | +0.42 |
| PHG Koninklijke Philips NVR- NY | Add +21.7% | 1.84% | +0.39 |
| ARMK Aramark | Add +13.8% | 4.35% | +0.36 |
| HAYW Hayward Holdings Inc. | Add +63.0% | 0.90% | +0.32 |
| ATR Aptargroup Inc. | Add +40.8% | 1.10% | +0.30 |
| DCI Donaldson Co. Inc. | Add +13.2% | 1.62% | +0.23 |
| NSIT Insight Enterprises Inc. | Add +17.1% | 1.38% | +0.23 |
| CARR Carrier Global Corp. | Add +14.0% | 2.25% | +0.20 |
| OMF Onemain Holdings Inc. | Add +21.8% | 1.25% | +0.19 |
| VVV Valvoline Inc. | Add +13.0% | 1.60% | +0.18 |
| PRI Primerica Inc. | Add +2.8% | 1.35% | +0.14 |
| CSX CSX Corp. | Add +13.6% | 1.78% | +0.12 |
| MCHP Microchip Technology Inc. | Add +24.6% | 1.21% | +0.10 |
| NVT Nvent Electric PLC | Add +38.1% | 1.07% | +0.10 |
| FBIN Fortune Brands Innovations I | Add +12.8% | 1.35% | +0.05 |
| TKR Timken Co. | Add +0.9% | 0.80% | +0.04 |
| ASHTY Ashtead Group PLC-Unspon ADR | New | 0.01% | +0.01 |
| IFJPY Informa PLC-SP ADR | New | 0.00% | +0.00 |
| SDXAY Sodexo-Sponsored ADR | Add +16.0% | 0.01% | −0.00 |
| BMRRY B&M European Value-Unsp ADR | Add +1.8% | 0.01% | −0.00 |
| CNM Core & Main Inc. Class A | Add +0.3% | 1.33% | −0.02 |
| SKX Skechers USA Inc. Class A | Add +12.9% | 1.55% | −0.02 |
| GTES Gates Industrial Corp. UK Ltd. | Add +0.6% | 1.29% | −0.09 |
| FERG Ferguson Enterprises Inc. | Add +2.3% | 4.42% | −0.10 |
| RHI Robert Half Inc. | Add +14.4% | 1.36% | −0.12 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 56 | $7.0B | ARMK, BKNG, NSIT, SCHW, VVV |
| Q1 2026 | 62 | $8.1B | ARMK, BKNG, SCHW, FERG, AVY |
| Q4 2025 | 67 | $9.1B | ARMK, BKNG, SCHW, FERG, AVY |
| Q3 2025 | 68 | $9.9B | ARMK, FERG, BKNG, SCHW, AVY |
| Q2 2025 | 67 | $10.4B | FERG, BKNG, ARMK, SCHW, CARR |
| Q1 2025 | 66 | $10.4B | BKNG, FERG, ARMK, SCHW, G |
| Q4 2024 | 70 | $10.7B | BKNG, FERG, ARMK, G, SCHW |
| Q3 2024 | 69 | $11.4B | FERG, BKNG, CSL, ARMK, G |
| Q2 2024 | 70 | $10.7B | BKNG, CSL, GOOGL, SCHW, FERG |
| Q1 2024 | 68 | $11.2B | BKNG, CSL, FERG, SCHW, GOOGL |