Vulcan Value Partners, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 10, 2025), Vulcan Value Partners, LLC reported 40 stock positions worth $5.5 billion. Its top holding was Microsoft (MSFT) at 11.1% of the portfolio, followed by Everest (EG, 9.0%) and Unitedhealth (UNH, 7.5%). Compared with Q2 2025, it opened 3 new positions, sold out of 1, added to 15 and reduced 22. The biggest buy was a new position in Fiserv (FISV) and the biggest sale an exit from CBRE Class A (CBRE).
- Most Recent 13F
- Q2 2026
- Location
- BIRMINGHAM, AL
- CIK
- 0001556785
- Portfolio Value
- $5.5B (Q3 2025)
- SEC Filing
- 0001556785-25-000034 ↗ filed Nov 10, 2025
Holdings Value
Holdings 40 stocks · $5.5B
| MSFT Microsoft Corp. | 11.13% | 1,185,402 | $614.0M | Reduce -2.7% |
| EG Everest Group Ltd. | 9.00% | 1,417,466 | $496.5M | Add +13.8% |
| UNH Unitedhealth Group Inc. | 7.50% | 1,198,338 | $413.9M | Reduce -2.0% |
| AMZN Amazon.com Inc. | 7.49% | 1,880,565 | $412.9M | Reduce -3.1% |
| CRM Salesforce Inc. | 6.73% | 1,564,357 | $371.2M | Add +46.4% |
| TDG Transdigm Group Inc. | 5.96% | 249,643 | $329.0M | Add +7.8% |
| CSGP Costar Group Inc. | 5.86% | 3,831,609 | $323.2M | Add +3.1% |
| GOOG Alphabet Inc. Class C | 4.86% | 1,100,358 | $268.0M | Reduce -37.1% |
| MA Mastercard Inc. Class A | 4.81% | 466,222 | $265.2M | Add +6.5% |
| V Visa Inc. Class A | 4.65% | 751,516 | $256.6M | Add +12.4% |
| ARES Ares Management Corp. Class A | 3.91% | 1,350,249 | $215.8M | Add +10.6% |
| ELV Elevance Health Inc. | 2.46% | 419,195 | $135.7M | Add +42.7% |
| IQV Iqvia Holdings Inc. | 2.35% | 680,933 | $129.9M | Add +1.8% |
| TPG TPG Inc. | 2.04% | 1,958,438 | $112.3M | Reduce -1.3% |
| QRVO Qorvo Inc. | 1.98% | 1,197,365 | $109.0M | Reduce -9.3% |
| NICE Nice Ltd. - Spon ADR | 1.97% | 753,316 | $108.8M | Reduce -10.4% |
| KMX Carmax Inc. | 1.90% | 2,328,120 | $104.6M | Add +135.2% |
| FISV Fiserv Inc. | 1.87% | 803,160 | $103.4M | New |
| MEDP Medpace Holdings Inc. | 1.87% | 200,172 | $103.2M | Reduce -30.4% |
| SWK Stanley Black & Decker Inc. | 1.56% | 1,161,466 | $86.3M | Add +1.7% |
| HEI.A Heico Corp. Class A | 1.24% | 270,379 | $68.7M | Add +3.4% |
| JLL Jones Lang Lasalle Inc. | 1.07% | 197,663 | $58.9M | Reduce -58.9% |
| LFUS Littelfuse Inc. | 0.92% | 196,903 | $51.0M | Reduce -23.3% |
| CCK Crown Holdings Inc. | 0.75% | 429,884 | $41.5M | Reduce -1.1% |
| RYAN Ryan Specialty Holdings Inc. | 0.65% | 631,577 | $35.6M | New |
| SSNC Ss&c Technologies Holdings | 0.63% | 394,720 | $35.0M | Reduce -16.9% |
| G Genpact Ltd. | 0.57% | 750,224 | $31.4M | Add +6.3% |
| ABM Abm Industries Inc. | 0.56% | 664,054 | $30.6M | Reduce -5.1% |
| CIGI Colliers Intl GR-Subord Vot | 0.53% | 186,068 | $29.1M | Reduce -27.6% |
| SWKS Skyworks Solutions Inc. | 0.43% | 311,645 | $24.0M | Reduce -61.4% |
| ITRN Ituran Location and Control | 0.39% | 602,364 | $21.7M | Reduce -7.4% |
| MLKN Millerknoll Inc. | 0.36% | 1,116,932 | $20.0M | Reduce -0.4% |
| PRG Prog Holdings Inc. | 0.35% | 602,871 | $19.5M | Reduce -11.2% |
| TKR Timken Co. | 0.34% | 248,600 | $18.7M | Reduce -10.7% |
| SEE Sealed Air Corp. | 0.30% | 461,920 | $16.3M | Reduce -43.8% |
| FBIN Fortune Brands Innovations I | 0.29% | 299,028 | $16.0M | Reduce -7.9% |
| VRTS Virtus Investment Partners | 0.27% | 79,267 | $15.1M | Reduce -8.3% |
| PK Park Hotels & Resorts Inc. | 0.26% | 1,257,290 | $14.2M | Add +25.4% |
| MIDD Middleby Corp. | 0.17% | 70,624 | $9.4M | Add +141.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.00% | 303 | $203K | New |
Portfolio Sells Q2 2025 → Q3 2025
| CBRE CBRE Group Inc. Class A | Sold out | 0.00% | −3.80 |
| JLL Jones Lang Lasalle Inc. | Reduce -58.9% | 1.07% | −1.25 |
| GOOG Alphabet Inc. Class C | Reduce -37.1% | 4.86% | −0.79 |
| SWKS Skyworks Solutions Inc. | Reduce -61.4% | 0.43% | −0.73 |
| NICE Nice Ltd. - Spon ADR | Reduce -10.4% | 1.97% | −0.72 |
| AMZN Amazon.com Inc. | Reduce -3.1% | 7.49% | −0.26 |
| SEE Sealed Air Corp. | Reduce -43.8% | 0.30% | −0.15 |
| QRVO Qorvo Inc. | Reduce -9.3% | 1.98% | −0.14 |
| SSNC Ss&c Technologies Holdings | Reduce -16.9% | 0.63% | −0.13 |
| LFUS Littelfuse Inc. | Reduce -23.3% | 0.92% | −0.10 |
| CCK Crown Holdings Inc. | Reduce -1.1% | 0.75% | −0.10 |
| CIGI Colliers Intl GR-Subord Vot | Reduce -27.6% | 0.53% | −0.07 |
| ITRN Ituran Location and Control | Reduce -7.4% | 0.39% | −0.05 |
| ABM Abm Industries Inc. | Reduce -5.1% | 0.56% | −0.03 |
| MLKN Millerknoll Inc. | Reduce -0.4% | 0.36% | −0.02 |
| TKR Timken Co. | Reduce -10.7% | 0.34% | −0.02 |
| FBIN Fortune Brands Innovations I | Reduce -7.9% | 0.29% | −0.01 |
| VRTS Virtus Investment Partners | Reduce -8.3% | 0.27% | −0.00 |
| PRG Prog Holdings Inc. | Reduce -11.2% | 0.35% | +0.00 |
| TPG TPG Inc. | Reduce -1.3% | 2.04% | +0.04 |
| MSFT Microsoft Corp. | Reduce -2.7% | 11.13% | +0.14 |
| MEDP Medpace Holdings Inc. | Reduce -30.4% | 1.87% | +0.16 |
| UNH Unitedhealth Group Inc. | Reduce -2.0% | 7.50% | +0.54 |
Portfolio Buys Q2 2025 → Q3 2025
| FISV Fiserv Inc. | New | 1.87% | +1.87 |
| CRM Salesforce Inc. | Add +46.4% | 6.73% | +1.44 |
| EG Everest Group Ltd. | Add +13.8% | 9.00% | +1.32 |
| RYAN Ryan Specialty Holdings Inc. | New | 0.65% | +0.65 |
| KMX Carmax Inc. | Add +135.2% | 1.90% | +0.62 |
| CSGP Costar Group Inc. | Add +3.1% | 5.86% | +0.41 |
| IQV Iqvia Holdings Inc. | Add +1.8% | 2.35% | +0.34 |
| MA Mastercard Inc. Class A | Add +6.5% | 4.81% | +0.33 |
| V Visa Inc. Class A | Add +12.4% | 4.65% | +0.33 |
| ELV Elevance Health Inc. | Add +42.7% | 2.46% | +0.28 |
| MIDD Middleby Corp. | Add +141.4% | 0.17% | +0.10 |
| ARES Ares Management Corp. Class A | Add +10.6% | 3.91% | +0.08 |
| PK Park Hotels & Resorts Inc. | Add +25.4% | 0.26% | +0.07 |
| SWK Stanley Black & Decker Inc. | Add +1.7% | 1.56% | +0.06 |
| G Genpact Ltd. | Add +6.3% | 0.57% | +0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | New | 0.00% | +0.00 |
| HEI.A Heico Corp. Class A | Add +3.4% | 1.24% | −0.04 |
| TDG Transdigm Group Inc. | Add +7.8% | 5.96% | −0.40 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 36 | $3.3B | EG, MSFT, RYAN, MA, AMZN |
| Q1 2026 | 33 | $3.8B | EG, MSFT, AMZN, UNH, RYAN |
| Q4 2025Amended | 41 | $5.5B | MSFT, EG, CRM, AMZN, UNH |
| Q3 2025 | 40 | $5.5B | MSFT, EG, UNH, AMZN, CRM |
| Q2 2025 | 38 | $5.7B | MSFT, AMZN, EG, UNH, TDG |
| Q1 2025 | 39 | $5.3B | MSFT, EG, CSGP, TDG, AMZN |
| Q4 2024 | 49 | $6.0B | MSFT, SWKS, AMZN, GOOG, CSGP |
| Q3 2024 | 43 | $6.0B | AMZN, SWKS, CRM, MSFT, CSGP |
| Q2 2024Amended | 45 | $6.6B | AMZN, SWKS, CRM, MSFT, GOOG |
| Q1 2024 | 46 | $6.9B | KKR, AMZN, MSFT, TDG, GOOG |