Fiduciary Management Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Fiduciary Management Inc. reported 67 stock positions worth $10.4 billion. Its top holding was Ferguson Enterprises (FERG) at 5.7% of the portfolio, followed by Booking (BKNG, 5.5%) and Aramark (ARMK, 5.1%). Compared with Q1 2025, it opened 5 new positions, sold out of 4, added to 14 and reduced 48. The biggest buy was a new position in Capital One Financial (COF) and the biggest sale Genpact (G, shares −39%).
- Most Recent 13F
- Q2 2026
- Location
- MILWAUKEE, WI
- CIK
- 0000764532
- Portfolio Value
- $10.4B (Q2 2025)
- SEC Filing
- 0000764532-25-000009 ↗ filed Aug 14, 2025
Holdings Value
Holdings 67 stocks · $10.4B
| FERG Ferguson Enterprises Inc. | 5.68% | 2,716,068 | $591.4M | Reduce -4.9% |
| BKNG Booking Holdings Inc. | 5.46% | 98,127 | $568.1M | Reduce -10.0% |
| ARMK Aramark | 5.09% | 12,659,261 | $530.0M | Reduce -2.9% |
| SCHW Schwab (charles) Corp. | 3.84% | 4,385,494 | $400.1M | Reduce -5.3% |
| CARR Carrier Global Corp. | 2.46% | 3,498,598 | $256.1M | Reduce -4.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.10% | 449,290 | $218.3M | Reduce -31.5% |
| ARW Arrow Electronics Inc. | 2.08% | 1,701,274 | $216.8M | Add +10.7% |
| SONY Sony Group Corp. - SP ADR | 2.08% | 8,326,389 | $216.7M | Reduce -15.5% |
| PGR Progressive Corp. | 2.08% | 810,300 | $216.2M | Reduce -5.5% |
| AVY Avery Dennison Corp. | 2.07% | 1,226,100 | $215.1M | Reduce -5.1% |
| DGX Quest Diagnostics Inc. | 2.04% | 1,185,318 | $212.9M | Reduce -5.3% |
| UL Unilever PLC | 1.93% | 3,287,895 | $201.1M | Reduce -5.2% |
| CSX CSX Corp. | 1.89% | 6,032,486 | $196.8M | Reduce -3.8% |
| CSL Carlisle Cos Inc. | 1.87% | 522,337 | $195.0M | Reduce -2.5% |
| MAS Masco Corp. | 1.86% | 3,016,002 | $194.1M | Reduce -5.0% |
| KMX Carmax Inc. | 1.85% | 2,873,565 | $193.1M | Add +8.4% |
| G Genpact Ltd. | 1.79% | 4,236,893 | $186.5M | Reduce -39.1% |
| GOOGL Alphabet Inc. Class A | 1.77% | 1,045,992 | $184.3M | Reduce -23.2% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 1.76% | 5,407,338 | $182.8M | Reduce -7.1% |
| VVV Valvoline Inc. | 1.74% | 4,777,375 | $180.9M | Add +0.2% |
| HSIC Henry Schein Inc. | 1.72% | 2,451,912 | $179.1M | Reduce -0.4% |
| SYY Sysco Corp. | 1.72% | 2,363,079 | $179.0M | Reduce -4.7% |
| PHG Koninklijke Philips NVR- NY | 1.72% | 7,463,450 | $179.0M | Reduce -0.7% |
| NVT Nvent Electric PLC | 1.70% | 2,415,178 | $176.9M | Add +13.9% |
| FCFS Firstcash Holdings Inc. | 1.67% | 1,290,138 | $174.3M | Reduce -0.4% |
| DCI Donaldson Co. Inc. | 1.66% | 2,488,921 | $172.6M | Reduce -0.4% |
| GTES Gates Industrial Corp. UK Ltd. | 1.64% | 7,426,182 | $171.0M | Add +2.2% |
| OMF Onemain Holdings Inc. | 1.64% | 2,991,117 | $170.5M | Add +13.0% |
| FMS Fresenius Medical Care-ADR | 1.55% | 5,656,372 | $161.6M | Reduce -4.9% |
| SSD Simpson Manufacturing Co. Inc. | 1.53% | 1,023,274 | $158.9M | Add +11.7% |
| CCEP Coca-Cola Europacific Partne | 1.51% | 1,695,346 | $157.2M | Reduce -17.1% |
| COF Capital One Financial Corp. | 1.49% | 727,077 | $154.7M | New |
| BDX Becton Dickinson and Co. | 1.48% | 895,674 | $154.3M | New |
| NSIT Insight Enterprises Inc. | 1.45% | 1,089,847 | $150.5M | Add +14.8% |
| RYAAY Ryanair Holdings PLC-SP ADR | 1.41% | 2,544,813 | $146.8M | Reduce -17.1% |
| UNH Unitedhealth Group Inc. | 1.34% | 448,099 | $139.8M | Reduce -5.2% |
| CNM Core & Main Inc. Class A | 1.34% | 2,311,692 | $139.5M | Reduce -18.6% |
| ZION Zions Bancorp NA | 1.32% | 2,651,014 | $137.7M | Add +15.7% |
| HLI Houlihan Lokey Inc. | 1.30% | 751,325 | $135.2M | Reduce -0.5% |
| PRI Primerica Inc. | 1.29% | 489,084 | $133.8M | Reduce -0.4% |
| DLTR Dollar Tree Inc. | 1.27% | 1,334,687 | $132.2M | Reduce -5.2% |
| WTM White Mountains Insurance GP | 1.23% | 71,478 | $128.4M | Reduce -0.4% |
| PLXS Plexus Corp. | 1.21% | 934,340 | $126.4M | Reduce -0.4% |
| SKX Skechers USA Inc. Class A | 1.20% | 1,974,773 | $124.6M | Reduce -30.3% |
| CDW CDW Corp. | 1.17% | 680,320 | $121.5M | Reduce -5.3% |
| ATR Aptargroup Inc. | 1.15% | 764,156 | $119.5M | Reduce -0.5% |
| ALLE Allegion PLC | 1.13% | 817,646 | $117.8M | Reduce -5.9% |
| FBIN Fortune Brands Innovations I | 1.13% | 2,282,728 | $117.5M | Reduce -0.4% |
| HAYW Hayward Holdings Inc. | 1.07% | 8,054,367 | $111.2M | Add +20.0% |
| ICLR Icon PLC | 0.91% | 650,560 | $94.6M | Add +50.1% |
| MSA Msa Safety Inc. | 0.85% | 528,255 | $88.5M | New |
| BLK BlackRock Inc. | 0.85% | 84,257 | $88.4M | Reduce -4.1% |
| TKR Timken Co. | 0.80% | 1,142,996 | $82.9M | Reduce -0.4% |
| BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC | 0.80% | 768,188 | $82.8M | Reduce -54.1% |
| ORLY O'reilly Automotive Inc. | 0.78% | 902,618 | $81.4M | Reduce -48.2% |
| RHI Robert Half Inc. | 0.74% | 1,885,044 | $77.4M | Reduce -26.9% |
| LPX Louisiana-Pacific Corp. | 0.74% | 890,829 | $76.6M | New |
| AIT Applied Industrial Tech Inc. | 0.52% | 234,796 | $54.6M | Reduce -0.7% |
| CTS CTS Corp. | 0.48% | 1,185,367 | $50.5M | Reduce -0.6% |
| WEIGF Weir PLC filed as Weir Group PLC | 0.02% | 67,784 | $2.3M | Reduce -1.6% |
| SDXAY Sodexo-Sponsored ADR | 0.02% | 129,155 | $1.6M | Add +6.1% |
| ASHTY Ashtead Group PLC-Unspon ADR | 0.01% | 5,075 | $1.3M | Add +6.9% |
| BMRRY B&M European Value-Unsp ADR filed as B AND M EUROPEAN VALUEUNSP ADR | 0.01% | 81,856 | $1.2M | Reduce -1.6% |
| IFJPY Informa PLC-SP ADR | 0.00% | 12,993 | $291K | Add +15.5% |
| RHHBY Roche Holdings Ltd.-Spons ADR | 0.00% | 5,601 | $228K | Reduce -2.2% |
| RXEEY Rexel SA - Unsponsored ADR | 0.00% | 7,247 | $226K | New |
| EDNMY Edenred SA-Unsp ADR | 0.00% | 11,525 | $179K | Reduce -2.2% |
Portfolio Sells Q1 2025 → Q2 2025
| G Genpact Ltd. | Reduce -39.1% | 1.79% | −1.60 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -31.5% | 2.10% | −1.28 |
| MCHP Microchip Technology Inc. | Sold out | 0.00% | −1.21 |
| BJ Bj's Wholesale Club Holdings | Reduce -54.1% | 0.80% | −1.05 |
| UNH Unitedhealth Group Inc. | Reduce -5.2% | 1.34% | −1.05 |
| SNN Smith & Nephew PLC -Spon ADR | Sold out | 0.00% | −1.03 |
| ORLY O'reilly Automotive Inc. | Reduce -48.2% | 0.78% | −0.83 |
| RHI Robert Half Inc. | Reduce -26.9% | 0.74% | −0.61 |
| SLB SLB Ltd. | Reduce -7.1% | 1.76% | −0.60 |
| SKX Skechers USA Inc. Class A | Reduce -30.3% | 1.20% | −0.36 |
| SONY Sony Group Corp. - SP ADR | Reduce -15.5% | 2.08% | −0.34 |
| PGR Progressive Corp. | Reduce -5.5% | 2.08% | −0.27 |
| MAS Masco Corp. | Reduce -5.0% | 1.86% | −0.27 |
| GOOGL Alphabet Inc. Class A | Reduce -23.2% | 1.77% | −0.27 |
| FBIN Fortune Brands Innovations I | Reduce -0.4% | 1.13% | −0.22 |
| CCEP Coca-Cola Europacific Partne | Reduce -17.1% | 1.51% | −0.21 |
| AVY Avery Dennison Corp. | Reduce -5.1% | 2.07% | −0.16 |
| PHG Koninklijke Philips NVR- NY | Reduce -0.7% | 1.72% | −0.13 |
| WTM White Mountains Insurance GP | Reduce -0.4% | 1.23% | −0.10 |
| SYY Sysco Corp. | Reduce -4.7% | 1.72% | −0.08 |
| PRI Primerica Inc. | Reduce -0.4% | 1.29% | −0.06 |
| UL Unilever PLC | Reduce -5.2% | 1.93% | −0.06 |
| IVV iShares Core S&P 500 ETF | Sold out | 0.00% | −0.02 |
| IJR iShares Core S&P Small-Cap E | Sold out | 0.00% | −0.01 |
| DGX Quest Diagnostics Inc. | Reduce -5.3% | 2.04% | −0.00 |
| TKR Timken Co. | Reduce -0.4% | 0.80% | −0.00 |
| EDNMY Edenred SA-Unsp ADR | Reduce -2.2% | 0.00% | −0.00 |
| RHHBY Roche Holdings Ltd.-Spons ADR | Reduce -2.2% | 0.00% | −0.00 |
| BMRRY B&M European Value-Unsp ADR | Reduce -1.6% | 0.01% | +0.00 |
| WEIGF Weir PLC | Reduce -1.6% | 0.02% | +0.00 |
| CTS CTS Corp. | Reduce -0.6% | 0.48% | +0.01 |
| AIT Applied Industrial Tech Inc. | Reduce -0.7% | 0.52% | +0.01 |
| CNM Core & Main Inc. Class A | Reduce -18.6% | 1.34% | +0.01 |
| ALLE Allegion PLC | Reduce -5.9% | 1.13% | +0.04 |
| DCI Donaldson Co. Inc. | Reduce -0.4% | 1.66% | +0.04 |
| BLK BlackRock Inc. | Reduce -4.1% | 0.85% | +0.05 |
| ATR Aptargroup Inc. | Reduce -0.5% | 1.15% | +0.05 |
| PLXS Plexus Corp. | Reduce -0.4% | 1.21% | +0.05 |
| CDW CDW Corp. | Reduce -5.3% | 1.17% | +0.05 |
| HSIC Henry Schein Inc. | Reduce -0.4% | 1.72% | +0.09 |
| CSX CSX Corp. | Reduce -3.8% | 1.89% | +0.11 |
| CSL Carlisle Cos Inc. | Reduce -2.5% | 1.87% | +0.11 |
| HLI Houlihan Lokey Inc. | Reduce -0.5% | 1.30% | +0.12 |
| FMS Fresenius Medical Care-ADR | Reduce -4.9% | 1.55% | +0.12 |
| RYAAY Ryanair Holdings PLC-SP ADR | Reduce -17.1% | 1.41% | +0.15 |
| FCFS Firstcash Holdings Inc. | Reduce -0.4% | 1.67% | +0.17 |
| CARR Carrier Global Corp. | Reduce -4.8% | 2.46% | +0.21 |
| DLTR Dollar Tree Inc. | Reduce -5.2% | 1.27% | +0.25 |
| SCHW Schwab (charles) Corp. | Reduce -5.3% | 3.84% | +0.34 |
| BKNG Booking Holdings Inc. | Reduce -10.0% | 5.46% | +0.60 |
Portfolio Buys Q1 2025 → Q2 2025
| COF Capital One Financial Corp. | New | 1.49% | +1.49 |
| BDX Becton Dickinson and Co. | New | 1.48% | +1.48 |
| MSA Msa Safety Inc. | New | 0.85% | +0.85 |
| LPX Louisiana-Pacific Corp. | New | 0.74% | +0.74 |
| NVT Nvent Electric PLC | Add +13.9% | 1.70% | +0.63 |
| ARW Arrow Electronics Inc. | Add +10.7% | 2.08% | +0.54 |
| OMF Onemain Holdings Inc. | Add +13.0% | 1.64% | +0.39 |
| GTES Gates Industrial Corp. UK Ltd. | Add +2.2% | 1.64% | +0.35 |
| ZION Zions Bancorp NA | Add +15.7% | 1.32% | +0.22 |
| ICLR Icon PLC | Add +50.1% | 0.91% | +0.18 |
| HAYW Hayward Holdings Inc. | Add +20.0% | 1.07% | +0.17 |
| SSD Simpson Manufacturing Co. Inc. | Add +11.7% | 1.53% | +0.14 |
| VVV Valvoline Inc. | Add +0.2% | 1.74% | +0.13 |
| NSIT Insight Enterprises Inc. | Add +14.8% | 1.45% | +0.07 |
| ASHTY Ashtead Group PLC-Unspon ADR | Add +6.9% | 0.01% | +0.00 |
| RXEEY Rexel SA - Unsponsored ADR | New | 0.00% | +0.00 |
| IFJPY Informa PLC-SP ADR | Add +15.5% | 0.00% | +0.00 |
| SDXAY Sodexo-Sponsored ADR | Add +6.1% | 0.02% | +0.00 |
| KMX Carmax Inc. | Add +8.4% | 1.85% | −0.14 |
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 |