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	SWKS Skyworks Solutions, Inc.	Skyworks Solutions, Inc.	Sell	-197,555-2.1%	$728.99K	9,198,635
Q3 2019Sep 30, 2019	BLK BlackRock, Inc.	BlackRock, Inc.	Sell	-220,509-100.0%	$17.00	38
Q3 2019Sep 30, 2019	SPGI S&P Global Inc.	S&P Global Inc.	Sell	-285,607-19.4%	$291.26K	1,188,899
Q3 2019Sep 30, 2019	FTDR frontdoor, inc.	frontdoor, inc.	Sell - Position Exit	-503,570-100.0%	$0.00	-
Q3 2019Sep 30, 2019	SNBR Sleep Number Corporation	Sleep Number Corporation	Sell	-548,488-31.5%	$49.28K	1,192,665
Q3 2019Sep 30, 2019	MCK McKesson Corporation	McKesson Corporation	Sell	-876,437-21.9%	$426.52K	3,121,011
Q3 2019Sep 30, 2019	G2717B108 Cushman Wakefield	Cushman Wakefield	Sell	-963,820-12.6%	$124.20K	6,702,466
Q3 2019Sep 30, 2019	SABR Sabre Corporation	Sabre Corporation	Sell	-1,080,629-58.8%	$16.92K	755,695
Q3 2019Sep 30, 2019	UPS United Parcel Service, Inc.	United Parcel Service, Inc.	Sell	-1,310,799-31.5%	$340.79K	2,844,150
Q3 2019Sep 30, 2019	TER Teradyne, Inc.	Teradyne, Inc.	Sell	-5,135,726-100.0%	$45.00	774
Q2 2019Jun 30, 2019	REZI Resideo Technologies, Inc.	Resideo Technologies, Inc.	Buy - Position Entry	+3,942,514	$86.42K	3,942,514
Q2 2019Jun 30, 2019	G0692U109 Axis Capital	Axis Capital	Buy - Position Entry	+3,754,333	$223.95K	3,754,333
Q2 2019Jun 30, 2019	M6158M104 Ituran	Ituran	Buy - Position Entry	+1,643,588	$49.46K	1,643,588
Q2 2019Jun 30, 2019	NVDA NVIDIA Corporation	NVIDIA Corporation	Buy	+1,567,283+68.6%	$632.82K	3,853,253
Q2 2019Jun 30, 2019	ELV Elevance Health, Inc.	Elevance Health, Inc.	Buy	+1,173,981+2134510.9%	$331.32K	1,174,036
Q2 2019Jun 30, 2019	EG Everest Group	Everest Group	Buy - Position Entry	+1,129,316	$279.14K	1,129,316
Q2 2019Jun 30, 2019	SWKS Skyworks Solutions, Inc.	Skyworks Solutions, Inc.	Buy	+1,018,394+12.2%	$726.04K	9,396,190
Q2 2019Jun 30, 2019	COR Cencora, Inc.	Cencora, Inc.	Buy	+1,000,905+40.7%	$294.86K	3,458,411
Q2 2019Jun 30, 2019	CVS CVS Health Corporation	CVS Health Corporation	Buy	+968,162+12.2%	$486.41K	8,926,631
Q2 2019Jun 30, 2019	SNBR Sleep Number Corporation	Sleep Number Corporation	Buy	+646,696+59.1%	$70.33K	1,741,153
Q2 2019Jun 30, 2019	SABR Sabre Corporation	Sabre Corporation	Buy	+338,850+22.6%	$40.77K	1,836,324
Q2 2019Jun 30, 2019	WCC WESCO International, Inc.	WESCO International, Inc.	Buy	+226,949+30.8%	$48.81K	963,766
Q2 2019Jun 30, 2019	BLK BlackRock, Inc.	BlackRock, Inc.	Buy - Position Entry	+220,547	$103.50K	220,547
Q2 2019Jun 30, 2019	QRVO Qorvo, Inc.	Qorvo, Inc.	Buy	+172,176+1.6%	$722.85K	10,851,938
Q2 2019Jun 30, 2019	BKNG Booking Holdings Inc. Common St	Booking Holdings Inc. Common St	Buy - Position Entry	+132,542	$248.48K	132,542
Q2 2019Jun 30, 2019	JLL Jones Lang LaSalle Incorporated	Jones Lang LaSalle Incorporated	Buy	+65,265+8.9%	$111.90K	795,372
Q2 2019Jun 30, 2019	UPS United Parcel Service, Inc.	United Parcel Service, Inc.	Buy	+51,795+1.3%	$429.08K	4,154,949
Q2 2019Jun 30, 2019	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+43,165+10.6%	$485.47K	449,132
Q2 2019Jun 30, 2019	FWRD Forward Air Corporation	Forward Air Corporation	Buy - Position Entry	+460	$27.00	460
Q2 2019Jun 30, 2019	MSM MSC Industrial Direct Company,	MSC Industrial Direct Company,	Sell	-6,222-1.5%	$30.31K	408,213

Page 36 of 78 • 2313 total trades

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