Vulcan Value Partners, LLC

Long Only Manager • Value

Vulcan Value Partners, LLC is a Value-focused institution based in Birmingham, AL led by Jeffrey Thomas Stdenis, reporting $6.9B in AUM as of Q3 2025 with 68% concentrated in top 10 holdings.

CEOJeffrey Thomas Stdenis

Portfolio Value: $5.5B
Positions: 40
Top Holding: MSFT at 11.13%
Last Reported: Q3 2025

AddressThree Protective Center, 2801 Highway 280 South, Ste 300, Birmingham, AL, 35223, United States

Top Holdings

Largest long holdings in Vulcan Value Partners, LLC's portfolio (68% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Microsoft MSFT	Software - Infrastructure Technology	$614.0M	11.13%	-$17.1M Sold	0.02% 1.2M shares	Q4 2018 Held for 6y 11m
2 Everest Group EG	Insurance - Reinsurance Financial Services	$496.5M	9.00%	+$60.4M Bought	3.38% 1.4M shares	Q3 2024 Held for 1y 2m
3 UnitedHealth Group UNH	Medical - Healthcare Plans Healthcare	$413.9M	7.50%	-$8.5M Sold	0.13% 1.2M shares	Q3 2023 Held for 2y 2m
4 Amazon AMZN	Specialty Retail Consumer Cyclical	$412.9M	7.49%	-$13.0M Sold	0.02% 1.9M shares	Q4 2018 Held for 6y 11m
5 Salesforce CRM	Software - Application Technology	$371.2M	6.73%	+$117.7M Bought	0.16% 1.6M shares	Q2 2020 Held for 5y 5m
6 TransDigm Group TDG	Aerospace & Defense Industrials	$329.0M	5.96%	+$23.8M Bought	0.44% 249.6K shares	Q2 2020 Held for 5y 5m
7 CoStar Group CSGP	Real Estate - Services Real Estate	$323.2M	5.86%	+$9.7M Bought	0.90% 3.8M shares	Q3 2020 Held for 5y 2m
8 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$268.0M	4.86%	-$158.3M Sold	0.01% 1.1M shares	Q3 2017 Held for 8y 2m
9 Mastercard MA	Financial - Credit Services Financial Services	$265.2M	4.81%	+$16.1M Bought	0.05% 466.2K shares	≤ Q2 2013 Held for 12y 5m+
10 Visa V	Financial - Credit Services Financial Services	$256.6M	4.65%	+$28.4M Bought	0.04% 751.5K shares	≤ Q2 2013 Held for 12y 5m+

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Vulcan Value Partners, LLC's latest filing

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Market Value

$5.5B

Prior: $5.7B

Q/Q Change

-2.75%

-$156.0M

Net Flows % of MV

-4.23%

Turnover Ratio

10.84%

New Purchases

1 stocks

$35.6M

Added To

15 stocks

+$393.7M

Sold Out Of

1 stocks

$215.4M

Reduced Holdings

22 stocks

-$447.5M

Increased Positions

Position	Shares Δ	Change
1 Ryan Specialty Holdings RYAN	New	0 → 631.6K +$35.6M
2 Middleby MIDD	+141.44%	29.3K → 70.6K +$5.5M
3 CarMax KMX	+135.17%	990.0K → 2.3M +$60.1M
4 Salesforce CRM	+46.43%	1.1M → 1.6M +$117.7M
5 Elevance Health ELV	+42.71%	293.7K → 419.2K +$40.6M

Decreased Positions

Position	Shares Δ	Change
1 CBRE Group CBRE	Sold	1.5M → 0 −$215.4M
2 Skyworks Solutions SWKS	-61.37%	806.8K → 311.6K −$38.1M
3 Jones Lang LaSalle JLL	-58.85%	480.3K → 197.7K −$84.3M
4 Sealed Air SEE	-43.75%	821.2K → 461.9K −$12.7M
5 Alphabet Inc. GOOG	-37.14%	1.8M → 1.1M −$158.3M