13F
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Vulcan Value Partners, LLC

13F equity value
$3.8B
Positions
33
Top 10 concentration
70.8%
Quarters / total new picks
28 / 79
13F equity value over time
$0M$10B$20B2017201820192020202120222023202420252026

"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.

Not significant Verdict

13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.

We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 28 quarters, returned +1.4% per quarter — versus +3.1% per quarter from simply owning every 13F stock. It beat that baseline in only 53.6% of quarters (excess t = -0.55, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
-2.1%
t-stat
-0.55
Quarterly win rate
54%
Annualized excess
-11.2%
$1 → follow vs universe
$0.99 vs $2.09
Cumulative return: $1 invested in new picks vs universe
1.00 20180331: universe 1.04120180630: universe 0.95920180930: universe 1.00320181231: universe 0.99220190331: universe 0.97520190630: universe 1.04820190930: universe 1.12720191231: universe 0.90920200331: universe 1.09620200630: universe 1.21120200930: universe 1.48520201231: universe 1.55320210331: universe 1.56620210630: universe 1.69220211231: universe 1.44020220630: universe 1.33420220930: universe 1.43320221231: universe 1.33120230331: universe 1.40220230630: universe 1.35220230930: universe 1.53420240331: universe 1.56920240630: universe 1.71120241231: universe 1.59720250331: universe 1.74120250630: universe 1.79620250930: universe 2.01920251231: universe 2.089 20180331: follow 1.01620180630: follow 0.99720180930: follow 1.02220181231: follow 1.18520190331: follow 1.19020190630: follow 0.96120190930: follow 1.02220191231: follow 0.81120200331: follow 0.85720200630: follow 1.02920200930: follow 1.11120201231: follow 1.23420210331: follow 1.50420210630: follow 1.80020211231: follow 0.91220220630: follow 0.78420220930: follow 0.86220221231: follow 0.81920230331: follow 0.89220230630: follow 0.88420230930: follow 0.95620240331: follow 1.04020240630: follow 1.26220241231: follow 1.10020250331: follow 1.26320250630: follow 1.33220250930: follow 1.14020251231: follow 0.993 0.72 1.49 2.26 20182019202020212022202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 20 holdings of 33 · 2026 Q1

Ticker Value Weight QoQ
EG $445M
11.8%
TRIM
MSFT $411M
10.9%
TRIM
AMZN $332M
8.8%
TRIM
UNH $247M
6.6%
TRIM
RYAN $223M
5.9%
ADD
TRU $222M
5.9%
ADD
TDG $214M
5.7%
TRIM
GOOG $194M
5.1%
TRIM
V $193M
5.1%
TRIM
MA $191M
5.1%
TRIM
ARES $185M
4.9%
HOLD
MEDP $98M
2.6%
ADD
KMX $92M
2.4%
TRIM
ELV $87M
2.3%
TRIM
TPG $80M
2.1%
ADD
NICE $63M
1.7%
NEW
FISV $61M
1.6%
TRIM
NOW $56M
1.5%
NEW
IQV $42M
1.1%
TRIM
HEI/A $38M
1.0%
TRIM

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

NICENOW

Method & Limitations

Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.