Fiduciary Management Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Fiduciary Management Inc. reported 67 stock positions worth $9.1 billion. Its top holding was Aramark (ARMK) at 4.7% of the portfolio, followed by Booking (BKNG, 4.3%) and Schwab (charles) (SCHW, 4.3%). Compared with Q3 2025, it opened 6 new positions, sold out of 7, added to 11 and reduced 49. The biggest buy was a new position in Accenture Class A (ACN) and the biggest sale an exit from Genpact (G).
- Most Recent 13F
- Q2 2026
- Location
- MILWAUKEE, WI
- CIK
- 0000764532
- Portfolio Value
- $9.1B (Q4 2025)
- SEC Filing
- 0000764532-26-000002 ↗ filed Feb 11, 2026
Holdings Value
Holdings 67 stocks · $9.1B
| ARMK Aramark | 4.65% | 11,476,736 | $423.0M | Reduce -7.2% |
| BKNG Booking Holdings Inc. | 4.30% | 73,097 | $391.5M | Reduce -8.9% |
| SCHW Schwab (charles) Corp. | 4.25% | 3,872,312 | $386.9M | Reduce -8.0% |
| FERG Ferguson Enterprises Inc. | 3.64% | 1,486,106 | $330.9M | Reduce -25.0% |
| AVY Avery Dennison Corp. | 2.80% | 1,400,814 | $254.8M | Reduce -7.0% |
| GOOGL Alphabet Inc. Class A | 2.76% | 802,679 | $251.2M | Reduce -7.5% |
| BDX Becton Dickinson and Co. | 2.35% | 1,103,441 | $214.1M | Reduce -7.3% |
| CARR Carrier Global Corp. | 2.31% | 3,972,009 | $209.9M | Add +5.3% |
| DCI Donaldson Co. Inc. | 2.26% | 2,320,281 | $205.7M | Reduce -6.3% |
| ACN Accenture PLC Class A | 2.10% | 711,815 | $191.0M | New |
| OMF Onemain Holdings Inc. | 2.09% | 2,813,028 | $190.0M | Reduce -5.4% |
| PLXS Plexus Corp. | 2.09% | 1,290,446 | $189.7M | Reduce -4.5% |
| WTM White Mountains Insurance GP | 2.06% | 90,333 | $187.7M | Reduce -4.3% |
| DGX Quest Diagnostics Inc. | 2.00% | 1,046,921 | $181.7M | Reduce -8.8% |
| PHG Koninklijke Philips NVR- NY | 1.95% | 6,543,122 | $177.2M | Reduce -8.9% |
| ARW Arrow Electronics Inc. | 1.94% | 1,604,380 | $176.8M | Reduce -5.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.91% | 346,000 | $173.9M | Reduce -6.8% |
| HSIC Henry Schein Inc. | 1.91% | 2,293,597 | $173.4M | Reduce -6.0% |
| CSL Carlisle Cos Inc. | 1.88% | 535,581 | $171.3M | Reduce -5.2% |
| ZION Zions Bancorp NA | 1.86% | 2,894,607 | $169.5M | Reduce -4.5% |
| UL Unilever PLC-Sponsored ADR | 1.85% | 2,568,718 | $168.0M | Reduce -8.5% |
| MAS Masco Corp. | 1.84% | 2,636,618 | $167.3M | Reduce -8.8% |
| SLB SLB Ltd. filed as SLB LIMITED | 1.78% | 4,227,636 | $162.3M | Reduce -11.4% |
| ALLE Allegion PLC | 1.78% | 1,015,783 | $161.7M | Add +28.8% |
| COF Capital One Financial Corp. | 1.75% | 656,735 | $159.2M | Reduce -7.2% |
| PRI Primerica Inc. | 1.74% | 611,281 | $157.9M | Reduce -4.5% |
| SYY Sysco Corp. | 1.71% | 2,107,864 | $155.3M | Reduce -8.3% |
| FCFS Firstcash Holdings Inc. | 1.69% | 964,280 | $153.7M | Reduce -24.9% |
| ATR Aptargroup Inc. | 1.67% | 1,247,557 | $152.2M | Add +9.2% |
| GTES Gates Industrial Corp. UK Ltd. | 1.64% | 6,954,532 | $149.3M | Reduce -6.1% |
| DLTR Dollar Tree Inc. | 1.60% | 1,183,752 | $145.6M | Reduce -8.4% |
| CSX CSX Corp. | 1.60% | 4,016,503 | $145.6M | Reduce -31.4% |
| VVV Valvoline Inc. | 1.59% | 4,972,363 | $144.5M | Add +4.6% |
| SONY Sony Group Corp. - SP ADR | 1.58% | 5,597,452 | $143.3M | Reduce -7.6% |
| HAYW Hayward Holdings Inc. | 1.54% | 9,089,866 | $140.4M | Add +13.3% |
| CDW CDW Corp. | 1.53% | 1,023,679 | $139.4M | Reduce -8.0% |
| CNM Core & Main Inc. Class A | 1.49% | 2,612,944 | $135.8M | Reduce -4.0% |
| UNH Unitedhealth Group Inc. | 1.43% | 393,157 | $129.8M | Reduce -8.8% |
| HLI Houlihan Lokey Inc. | 1.34% | 697,293 | $121.5M | Reduce -6.8% |
| FMS Fresenius Medical Care-ADR | 1.30% | 4,961,969 | $118.2M | Reduce -9.1% |
| CVCO Cavco Industries Inc. | 1.27% | 195,713 | $115.6M | Add +14.3% |
| MSA Msa Safety Inc. | 1.26% | 715,443 | $114.6M | Add +12.8% |
| RYAAY Ryanair Holdings PLC-SP ADR | 1.22% | 1,534,931 | $110.8M | Reduce -14.5% |
| NSIT Insight Enterprises Inc. | 1.18% | 1,322,558 | $107.7M | Reduce -4.8% |
| ACGL Arch Capital Group Ltd. | 1.17% | 1,112,203 | $106.7M | New |
| FBIN Fortune Brands Innovations I | 1.17% | 2,127,508 | $106.4M | Reduce -6.4% |
| PGR Progressive Corp. | 1.02% | 408,081 | $92.9M | Reduce -7.2% |
| CCEP Coca-Cola Europacific Partne | 1.01% | 1,010,460 | $91.6M | Reduce -12.9% |
| HURN Huron Consulting Group Inc. | 1.00% | 524,325 | $90.7M | New |
| LPX Louisiana-Pacific Corp. | 0.98% | 1,098,133 | $88.7M | Add +23.9% |
| ICLR Icon PLC | 0.96% | 480,996 | $87.6M | Reduce -14.3% |
| MWA Mueller Water Products Inc. Class A | 0.83% | 3,165,392 | $75.4M | New |
| SSD Simpson Manufacturing Co. Inc. | 0.81% | 455,195 | $73.5M | Reduce -55.3% |
| BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC | 0.72% | 724,153 | $65.2M | Reduce -5.4% |
| AIT Applied Industrial Tech Inc. | 0.61% | 216,149 | $55.5M | Reduce -7.5% |
| RHI Robert Half Inc. | 0.53% | 1,765,109 | $47.9M | Reduce -5.6% |
| CTS CTS Corp. | 0.51% | 1,084,545 | $46.5M | Reduce -7.9% |
| IJR iShares Core S&P Small-Cap E | 0.08% | 60,880 | $7.3M | New |
| WEIGF Weir PLC filed as Weir Group PLC | 0.03% | 60,813 | $2.3M | Reduce -9.5% |
| IVV iShares Core S&P 500 ETF | 0.02% | 3,246 | $2.2M | Add +323.8% |
| ASHGY Ashtead Group PLC Spon ADR | 0.02% | 26,208 | $1.9M | No change |
| SDXAY Sodexo-Sponsored ADR | 0.02% | 139,046 | $1.4M | Add +34.2% |
| BSPAX iShares S&P 500 Index-A | 0.00% | 442 | $352K | New |
| IFJPY Informa PLC-SP ADR | 0.00% | 12,081 | $291K | Add +0.1% |
| RXEEY Rexel SA - Unsponsored ADR | 0.00% | 6,737 | $264K | Reduce -0.1% |
| EDNMY Edenred SA-Unsp ADR | 0.00% | 11,787 | $131K | Reduce -0.5% |
| BMRRY B&M European Value-Unsp ADR filed as B AND M EUROPEAN VALUEUNSP ADR | 0.00% | 12,546 | $113K | Reduce -78.7% |
Portfolio Sells Q3 2025 → Q4 2025
| G Genpact Ltd. | Sold out | 0.00% | −1.54 |
| KMX Carmax Inc. | Sold out | 0.00% | −1.48 |
| BLK BlackRock Inc. | Sold out | 0.00% | −0.97 |
| SSD Simpson Manufacturing Co. Inc. | Reduce -55.3% | 0.81% | −0.92 |
| FERG Ferguson Enterprises Inc. | Reduce -25.0% | 3.64% | −0.86 |
| CSX CSX Corp. | Reduce -31.4% | 1.60% | −0.50 |
| NVT Nvent Electric PLC | Sold out | 0.00% | −0.50 |
| NSIT Insight Enterprises Inc. | Reduce -4.8% | 1.18% | −0.41 |
| FCFS Firstcash Holdings Inc. | Reduce -24.9% | 1.69% | −0.37 |
| CDW CDW Corp. | Reduce -8.0% | 1.53% | −0.26 |
| MAS Masco Corp. | Reduce -8.8% | 1.84% | −0.22 |
| HLI Houlihan Lokey Inc. | Reduce -6.8% | 1.34% | −0.22 |
| GTES Gates Industrial Corp. UK Ltd. | Reduce -6.1% | 1.64% | −0.22 |
| DGX Quest Diagnostics Inc. | Reduce -8.8% | 2.00% | −0.21 |
| SYY Sysco Corp. | Reduce -8.3% | 1.71% | −0.21 |
| SONY Sony Group Corp. - SP ADR | Reduce -7.6% | 1.58% | −0.19 |
| ARMK Aramark | Reduce -7.2% | 4.65% | −0.15 |
| FMS Fresenius Medical Care-ADR | Reduce -9.1% | 1.30% | −0.15 |
| ARW Arrow Electronics Inc. | Reduce -5.2% | 1.94% | −0.13 |
| RHI Robert Half Inc. | Reduce -5.6% | 0.53% | −0.12 |
| UNH Unitedhealth Group Inc. | Reduce -8.8% | 1.43% | −0.08 |
| BKNG Booking Holdings Inc. | Reduce -8.9% | 4.30% | −0.08 |
| PGR Progressive Corp. | Reduce -7.2% | 1.02% | −0.08 |
| SFGYY Sony Financial Group Inc.-ADR | Sold out | 0.00% | −0.07 |
| PRI Primerica Inc. | Reduce -4.5% | 1.74% | −0.06 |
| FBIN Fortune Brands Innovations I | Reduce -6.4% | 1.17% | −0.06 |
| CCEP Coca-Cola Europacific Partne | Reduce -12.9% | 1.01% | −0.05 |
| UL Unilever PLC-Sponsored ADR | Reduce -8.5% | 1.85% | −0.05 |
| PHG Koninklijke Philips NVR- NY | Reduce -8.9% | 1.95% | −0.03 |
| ICLR Icon PLC | Reduce -14.3% | 0.96% | −0.03 |
| URTH iShares MSCI World ETF | Sold out | 0.00% | −0.01 |
| AIT Applied Industrial Tech Inc. | Reduce -7.5% | 0.61% | −0.01 |
| BMRRY B&M European Value-Unsp ADR | Reduce -78.7% | 0.00% | −0.01 |
| IWM iShares Russell 2000 ETF | Sold out | 0.00% | −0.01 |
| BJ Bj's Wholesale Club Holdings | Reduce -5.4% | 0.72% | −0.01 |
| EDNMY Edenred SA-Unsp ADR | Reduce -0.5% | 0.00% | 0.00 |
| WEIGF Weir PLC | Reduce -9.5% | 0.03% | +0.00 |
| RXEEY Rexel SA - Unsponsored ADR | Reduce -0.1% | 0.00% | +0.00 |
| CSL Carlisle Cos Inc. | Reduce -5.2% | 1.88% | +0.00 |
| CNM Core & Main Inc. Class A | Reduce -4.0% | 1.49% | +0.01 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -6.8% | 1.91% | +0.02 |
| CTS CTS Corp. | Reduce -7.9% | 0.51% | +0.04 |
| BDX Becton Dickinson and Co. | Reduce -7.3% | 2.35% | +0.10 |
| PLXS Plexus Corp. | Reduce -4.5% | 2.09% | +0.11 |
| RYAAY Ryanair Holdings PLC-SP ADR | Reduce -14.5% | 1.22% | +0.13 |
| SLB SLB Ltd. | Reduce -11.4% | 1.78% | +0.13 |
| ZION Zions Bancorp NA | Reduce -4.5% | 1.86% | +0.13 |
| SCHW Schwab (charles) Corp. | Reduce -8.0% | 4.25% | +0.19 |
| DCI Donaldson Co. Inc. | Reduce -6.3% | 2.26% | +0.21 |
| COF Capital One Financial Corp. | Reduce -7.2% | 1.75% | +0.23 |
Portfolio Buys Q3 2025 → Q4 2025
| ACN Accenture PLC Class A | New | 2.10% | +2.10 |
| ACGL Arch Capital Group Ltd. | New | 1.17% | +1.17 |
| HURN Huron Consulting Group Inc. | New | 1.00% | +1.00 |
| MWA Mueller Water Products Inc. Class A | New | 0.83% | +0.83 |
| ALLE Allegion PLC | Add +28.8% | 1.78% | +0.36 |
| HAYW Hayward Holdings Inc. | Add +13.3% | 1.54% | +0.32 |
| CVCO Cavco Industries Inc. | Add +14.3% | 1.27% | +0.27 |
| LPX Louisiana-Pacific Corp. | Add +23.9% | 0.98% | +0.18 |
| MSA Msa Safety Inc. | Add +12.8% | 1.26% | +0.16 |
| ATR Aptargroup Inc. | Add +9.2% | 1.67% | +0.13 |
| IJR iShares Core S&P Small-Cap E | New | 0.08% | +0.08 |
| CARR Carrier Global Corp. | Add +5.3% | 2.31% | +0.03 |
| IVV iShares Core S&P 500 ETF | Add +323.8% | 0.02% | +0.02 |
| BSPAX iShares S&P 500 Index-A | New | 0.00% | +0.00 |
| SDXAY Sodexo-Sponsored ADR | Add +34.2% | 0.02% | +0.00 |
| IFJPY Informa PLC-SP ADR | Add +0.1% | 0.00% | +0.00 |
| VVV Valvoline Inc. | Add +4.6% | 1.59% | −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 |