C.T. Fitzpatrick – Vulcan Value Partners Portfolio Activity & Recent Trades (Jun 30, 2025)

As of Jun 30, 2025, the Vulcan Value Partners portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 13, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q2 2025, the filing reported:

New Buys – IQVIA Holdings, Inc. (IQV), SS&C Technologies Holdings, Inc (SSNC)

Increases – Ares Management Corporation (ARES), UnitedHealth Group Incorporated (UNH), Salesforce, Inc. (CRM), Stanley Black & Decker, Inc. (SWK), Amazon.com, Inc. (AMZN), and 6 more

Reductions – The Middleby Corporation (MIDD), Virtus Investment Partners, Inc (VRTS), MillerKnoll, Inc. (MLKN), PROG Holdings, Inc. (PRG), Transdigm Group Incorporated (TDG), and 20 more

Complete Exits – Cushman Wakefield (G2717B108), Dun & Bradstreet Holdings, Inc. (DNB), The Carlyle Group Inc. (CG)

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Vulcan Value Partners Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q3 2019Sep 30, 2019	NVDA NVIDIA Corporation	NVIDIA Corporation	Buy	+163,409+4.2%	$699.18K	4,016,662
Q3 2019Sep 30, 2019	MA Mastercard Incorporated	Mastercard Incorporated	Buy	+162,619+10.2%	$477.26K	1,757,410
Q3 2019Sep 30, 2019	V Visa Inc.	Visa Inc.	Buy	+136,049+5.8%	$424.08K	2,465,413
Q3 2019Sep 30, 2019	MSM MSC Industrial Direct Company,	MSC Industrial Direct Company,	Buy	+65,074+15.9%	$34.33K	473,287
Q3 2019Sep 30, 2019	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+44,857+10.0%	$602.17K	493,989
Q3 2019Sep 30, 2019	WCC WESCO International, Inc.	WESCO International, Inc.	Buy	+43,179+4.5%	$48.10K	1,006,945
Q3 2019Sep 30, 2019	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+32,447+11.9%	$531.58K	306,225
Q3 2019Sep 30, 2019	VRTS Virtus Investment Partners, Inc	Virtus Investment Partners, Inc	Buy	+30,404+10.6%	$35.22K	318,556
Q3 2019Sep 30, 2019	PH Parker-Hannifin Corporation	Parker-Hannifin Corporation	Buy	+29,908+2.5%	$222.06K	1,229,500
Q3 2019Sep 30, 2019	MAR Marriott International	Marriott International	Buy	+18,581+1.3%	$180.51K	1,451,394
Q3 2019Sep 30, 2019	CSL Carlisle Companies Incorporated	Carlisle Companies Incorporated	Buy	+11,022+7.2%	$23.86K	163,906
Q3 2019Sep 30, 2019	COR Cencora, Inc.	Cencora, Inc.	Buy	+383+0.0%	$284.76K	3,458,794
Q3 2019Sep 30, 2019	AZO AutoZone, Inc.	AutoZone, Inc.	Sell - Position Exit	-33-100.0%	$0.00	-
Q3 2019Sep 30, 2019	AXTA Axalta	Axalta	Sell - Position Exit	-55-100.0%	$0.00	-
Q3 2019Sep 30, 2019	MCO Moody's Corporation	Moody's Corporation	Sell - Position Exit	-64-100.0%	$0.00	-
Q3 2019Sep 30, 2019	ORLY O'Reilly Automotive, Inc.	O'Reilly Automotive, Inc.	Sell - Position Exit	-71-100.0%	$0.00	-
Q3 2019Sep 30, 2019	CBRE CBRE Group Inc	CBRE Group Inc	Sell - Position Exit	-157-100.0%	$0.00	-
Q3 2019Sep 30, 2019	NTRS Northern Trust Corporation	Northern Trust Corporation	Sell - Position Exit	-226-100.0%	$0.00	-
Q3 2019Sep 30, 2019	CHH Choice Hotels International, In	Choice Hotels International, In	Sell - Position Exit	-298-100.0%	$0.00	-
Q3 2019Sep 30, 2019	STT State Street Corporation	State Street Corporation	Sell - Position Exit	-383-100.0%	$0.00	-
Q3 2019Sep 30, 2019	CAH Cardinal Health, Inc.	Cardinal Health, Inc.	Sell - Position Exit	-465-100.0%	$0.00	-
Q3 2019Sep 30, 2019	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Sell - Position Exit	-532-100.0%	$0.00	-
Q3 2019Sep 30, 2019	BKNG Booking Holdings Inc. Common St	Booking Holdings Inc. Common St	Sell	-2,716-2.0%	$254.80K	129,826
Q3 2019Sep 30, 2019	ACIW ACI Worldwide, Inc.	ACI Worldwide, Inc.	Sell	-9,222-0.5%	$53.50K	1,707,997
Q3 2019Sep 30, 2019	EG Everest Group	Everest Group	Sell	-13,153-1.2%	$297.00K	1,116,163
Q3 2019Sep 30, 2019	AYI Acuity Brands, Inc.	Acuity Brands, Inc.	Sell	-39,213-9.5%	$50.19K	372,381
Q3 2019Sep 30, 2019	M6158M104 Ituran	Ituran	Sell	-101,871-6.2%	$38.22K	1,541,717
Q3 2019Sep 30, 2019	JLL Jones Lang LaSalle Incorporated	Jones Lang LaSalle Incorporated	Sell	-104,786-13.2%	$96.03K	690,586
Q3 2019Sep 30, 2019	G0692U109 Axis Capital	Axis Capital	Sell	-150,088-4.0%	$240.47K	3,604,245
Q3 2019Sep 30, 2019	CVS CVS Health Corporation	CVS Health Corporation	Sell	-171,719-1.9%	$552.17K	8,754,912

Page 35 of 78 • 2313 total trades

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