Vulcan Value Partners, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 9, 2026), Vulcan Value Partners, LLC reported 41 stock positions worth $5.5 billion. Its top holding was Microsoft (MSFT) at 10.0% of the portfolio, followed by Everest (EG, 9.2%) and Salesforce (CRM, 7.4%). Compared with Q3 2025, it opened 3 new positions, sold out of 2, added to 11 and reduced 27. The biggest buy was Ryan Specialty (RYAN, shares +632%) and the biggest sale Medpace (MEDP, shares −76%).
- Most Recent 13F
- Q2 2026
- Location
- BIRMINGHAM, AL
- CIK
- 0001556785
- Portfolio Value
- $5.5B (Q4 2025)
- SEC Filing
- 0001556785-26-000004 ↗ filed Feb 9, 2026
Holdings Value
Holdings 41 stocks · $5.5B
| MSFT Microsoft Corp. | 9.96% | 1,141,578 | $552.0M | Reduce -3.7% |
| EG Everest Group Ltd. | 9.24% | 1,509,740 | $512.3M | Add +6.5% |
| CRM Salesforce Inc. | 7.42% | 1,549,871 | $411.1M | Reduce -0.9% |
| AMZN Amazon.com Inc. | 7.33% | 1,759,935 | $406.2M | Reduce -6.4% |
| UNH Unitedhealth Group Inc. | 6.45% | 1,083,267 | $357.7M | Reduce -9.6% |
| TDG Transdigm Group Inc. | 5.77% | 240,620 | $320.0M | Reduce -3.6% |
| CSGP Costar Group Inc. | 5.44% | 4,485,021 | $301.5M | Add +17.1% |
| GOOG Alphabet Inc. Class C | 5.28% | 931,879 | $292.4M | Reduce -15.3% |
| ARES Ares Management Corp. Class A | 4.95% | 1,696,856 | $274.3M | Add +25.7% |
| MA Mastercard Inc. Class A | 4.63% | 449,194 | $256.4M | Reduce -3.6% |
| V Visa Inc. Class A | 4.60% | 727,685 | $255.2M | Reduce -3.2% |
| RYAN Ryan Specialty Holdings Inc. | 4.30% | 4,621,079 | $238.5M | Add +631.7% |
| ELV Elevance Health Inc. | 2.44% | 386,214 | $135.4M | Reduce -7.9% |
| KMX Carmax Inc. | 2.04% | 2,928,832 | $113.2M | Add +25.8% |
| TPG TPG Inc. | 1.98% | 1,721,916 | $110.0M | Reduce -12.1% |
| NICE Nice Ltd. - Spon ADR | 1.78% | 870,733 | $98.4M | Add +15.6% |
| FISV Fiserv Inc. | 1.74% | 1,437,643 | $96.5M | Add +79.0% |
| QRVO Qorvo Inc. | 1.68% | 1,103,354 | $93.3M | Reduce -7.8% |
| TRU Transunion | 1.64% | 1,062,584 | $91.0M | New |
| SWK Stanley Black & Decker Inc. | 1.42% | 1,059,558 | $78.8M | Reduce -8.8% |
| IQV Iqvia Holdings Inc. | 1.31% | 323,201 | $72.9M | Reduce -52.5% |
| HEI.A Heico Corp. Class A | 1.14% | 250,065 | $63.2M | Reduce -7.5% |
| JLL Jones Lang Lasalle Inc. | 0.91% | 150,625 | $50.7M | Reduce -23.8% |
| LFUS Littelfuse Inc. | 0.88% | 192,212 | $48.6M | Reduce -2.4% |
| CCK Crown Holdings Inc. | 0.74% | 400,303 | $41.2M | Reduce -6.9% |
| G Genpact Ltd. | 0.63% | 746,570 | $34.9M | Reduce -0.5% |
| ABM Abm Industries Inc. | 0.50% | 658,777 | $27.9M | Reduce -0.8% |
| CIGI Colliers Intl GR-Subord Vot | 0.49% | 184,403 | $27.1M | Reduce -0.9% |
| MEDP Medpace Holdings Inc. | 0.48% | 47,306 | $26.6M | Reduce -76.4% |
| MLKN Millerknoll Inc. | 0.46% | 1,389,715 | $25.7M | Add +24.4% |
| ITRN Ituran Location and Control | 0.42% | 540,059 | $23.4M | Reduce -10.3% |
| FBIN Fortune Brands Innovations I | 0.32% | 353,520 | $17.7M | Add +18.2% |
| PRG Prog Holdings Inc. | 0.32% | 599,125 | $17.7M | Reduce -0.6% |
| SARO Standardaero Inc. | 0.25% | 473,415 | $13.6M | New |
| PK Park Hotels & Resorts Inc. | 0.24% | 1,257,968 | $13.5M | Add +0.1% |
| VRTS Virtus Investment Partners | 0.23% | 77,326 | $12.6M | Reduce -2.5% |
| TKR Timken Co. | 0.21% | 138,434 | $11.6M | Reduce -44.3% |
| MIDD Middleby Corp. | 0.19% | 69,825 | $10.4M | Reduce -1.1% |
| SEE Sealed Air Corp. | 0.09% | 118,417 | $4.9M | Reduce -74.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.07% | 6,023 | $4.1M | Add +1887.8% |
| IWD iShares Russell 1000 Value E | 0.01% | 2,748 | $636K | New |
Portfolio Sells Q3 2025 → Q4 2025
| MEDP Medpace Holdings Inc. | Reduce -76.4% | 0.48% | −1.39 |
| MSFT Microsoft Corp. | Reduce -3.7% | 9.96% | −1.17 |
| UNH Unitedhealth Group Inc. | Reduce -9.6% | 6.45% | −1.05 |
| IQV Iqvia Holdings Inc. | Reduce -52.5% | 1.31% | −1.04 |
| SSNC Ss&c Technologies Holdings | Sold out | 0.00% | −0.63 |
| SWKS Skyworks Solutions Inc. | Sold out | 0.00% | −0.43 |
| QRVO Qorvo Inc. | Reduce -7.8% | 1.68% | −0.29 |
| SEE Sealed Air Corp. | Reduce -74.4% | 0.09% | −0.21 |
| TDG Transdigm Group Inc. | Reduce -3.6% | 5.77% | −0.19 |
| MA Mastercard Inc. Class A | Reduce -3.6% | 4.63% | −0.18 |
| AMZN Amazon.com Inc. | Reduce -6.4% | 7.33% | −0.16 |
| JLL Jones Lang Lasalle Inc. | Reduce -23.8% | 0.91% | −0.15 |
| SWK Stanley Black & Decker Inc. | Reduce -8.8% | 1.42% | −0.14 |
| TKR Timken Co. | Reduce -44.3% | 0.21% | −0.13 |
| HEI.A Heico Corp. Class A | Reduce -7.5% | 1.14% | −0.11 |
| ABM Abm Industries Inc. | Reduce -0.8% | 0.50% | −0.05 |
| TPG TPG Inc. | Reduce -12.1% | 1.98% | −0.05 |
| V Visa Inc. Class A | Reduce -3.2% | 4.60% | −0.05 |
| LFUS Littelfuse Inc. | Reduce -2.4% | 0.88% | −0.05 |
| VRTS Virtus Investment Partners | Reduce -2.5% | 0.23% | −0.05 |
| CIGI Colliers Intl GR-Subord Vot | Reduce -0.9% | 0.49% | −0.04 |
| PRG Prog Holdings Inc. | Reduce -0.6% | 0.32% | −0.03 |
| ELV Elevance Health Inc. | Reduce -7.9% | 2.44% | −0.02 |
| CCK Crown Holdings Inc. | Reduce -6.9% | 0.74% | −0.01 |
| MIDD Middleby Corp. | Reduce -1.1% | 0.19% | +0.02 |
| ITRN Ituran Location and Control | Reduce -10.3% | 0.42% | +0.03 |
| G Genpact Ltd. | Reduce -0.5% | 0.63% | +0.06 |
| GOOG Alphabet Inc. Class C | Reduce -15.3% | 5.28% | +0.42 |
| CRM Salesforce Inc. | Reduce -0.9% | 7.42% | +0.69 |
Portfolio Buys Q3 2025 → Q4 2025
| RYAN Ryan Specialty Holdings Inc. | Add +631.7% | 4.30% | +3.66 |
| TRU Transunion | New | 1.64% | +1.64 |
| ARES Ares Management Corp. Class A | Add +25.7% | 4.95% | +1.04 |
| SARO Standardaero Inc. | New | 0.25% | +0.25 |
| EG Everest Group Ltd. | Add +6.5% | 9.24% | +0.24 |
| KMX Carmax Inc. | Add +25.8% | 2.04% | +0.15 |
| MLKN Millerknoll Inc. | Add +24.4% | 0.46% | +0.10 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +1887.8% | 0.07% | +0.07 |
| FBIN Fortune Brands Innovations I | Add +18.2% | 0.32% | +0.03 |
| IWD iShares Russell 1000 Value E | New | 0.01% | +0.01 |
| PK Park Hotels & Resorts Inc. | Add +0.1% | 0.24% | −0.02 |
| FISV Fiserv Inc. | Add +79.0% | 1.74% | −0.13 |
| NICE Nice Ltd. - Spon ADR | Add +15.6% | 1.78% | −0.20 |
| CSGP Costar Group Inc. | Add +17.1% | 5.44% | −0.42 |
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 |