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 2016Sep 30, 2016	JLL Jones Lang LaSalle Incorporated	Jones Lang LaSalle Incorporated	Sell	-1,565-0.3%	$62.90K	552,774
Q3 2016Sep 30, 2016	TKR Timken Company (The)	Timken Company (The)	Sell	-1,586-0.1%	$54.35K	1,546,658
Q3 2016Sep 30, 2016	TUP		Sell	-1,653-0.3%	$38.34K	586,536
Q3 2016Sep 30, 2016	DCI Donaldson Company, Inc.	Donaldson Company, Inc.	Sell	-1,813-0.3%	$23.66K	633,805
Q3 2016Sep 30, 2016	M6158M104 Ituran	Ituran	Sell	-13,248-0.4%	$94.28K	3,563,022
Q3 2016Sep 30, 2016	BA Boeing Company (The)	Boeing Company (The)	Sell	-45,114-1.5%	$379.79K	2,882,869
Q3 2016Sep 30, 2016	G0692U109 Axis Capital	Axis Capital	Sell	-97,078-1.1%	$453.79K	8,352,394
Q3 2016Sep 30, 2016	MA Mastercard Incorporated	Mastercard Incorporated	Sell	-115,345-2.9%	$398.77K	3,918,387
Q3 2016Sep 30, 2016	FOSL Fossil Group, Inc.	Fossil Group, Inc.	Sell	-127,403-1.1%	$318.92K	11,484,322
Q3 2016Sep 30, 2016	BEN Franklin Resources, Inc.	Franklin Resources, Inc.	Sell	-140,576-1.0%	$504.74K	14,189,930
Q3 2016Sep 30, 2016	SAFT Safety Insurance Group, Inc.	Safety Insurance Group, Inc.	Sell	-181,853-33.0%	$24.86K	369,797
Q3 2016Sep 30, 2016	THR Thermon Group Holdings, Inc.	Thermon Group Holdings, Inc.	Sell	-183,367-9.4%	$34.94K	1,769,253
Q3 2016Sep 30, 2016	WWD Woodward, Inc.	Woodward, Inc.	Sell	-199,583-13.3%	$81.04K	1,297,026
Q3 2016Sep 30, 2016	V Visa Inc.	Visa Inc.	Sell	-206,426-4.2%	$393.64K	4,759,914
Q3 2016Sep 30, 2016	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Sell	-249,246-2.7%	$358.56K	8,990,975
Q3 2016Sep 30, 2016	CW Curtiss-Wright Corporation	Curtiss-Wright Corporation	Sell - Position Exit	-264,559-100.0%	$0.00	-
Q3 2016Sep 30, 2016	MAR Marriott International	Marriott International	Sell	-555,795-26.6%	$103.04K	1,530,363
Q3 2016Sep 30, 2016	ORCL Oracle Corporation	Oracle Corporation	Sell	-881,922-3.8%	$877.29K	22,334,286
Q3 2016Sep 30, 2016	NUS Nu Skin Enterprises, Inc.	Nu Skin Enterprises, Inc.	Sell - Position Exit	-889,275-100.0%	$0.00	-
Q3 2016Sep 30, 2016	DOV Dover Corporation	Dover Corporation	Sell - Position Exit	-1,298,407-100.0%	$0.00	-
Q3 2016Sep 30, 2016	QCOM QUALCOMM Incorporated	QUALCOMM Incorporated	Sell	-1,482,914-41.0%	$146.02K	2,131,675
Q3 2016Sep 30, 2016	PH Parker-Hannifin Corporation	Parker-Hannifin Corporation	Sell	-1,671,620-35.6%	$379.35K	3,021,979
Q3 2016Sep 30, 2016	STT State Street Corporation	State Street Corporation	Sell	-2,117,122-28.9%	$362.45K	5,205,359
Q3 2016Sep 30, 2016	CHKP Check Point	Check Point	Sell - Position Exit	-2,206,298-100.0%	$0.00	-
Q3 2016Sep 30, 2016	CSCO Cisco Systems, Inc.	Cisco Systems, Inc.	Sell	-3,721,958-36.0%	$209.98K	6,619,657
Q2 2016Jun 30, 2016	SABR Sabre Corporation	Sabre Corporation	Buy - Position Entry	+4,905,528	$131.42K	4,905,528
Q2 2016Jun 30, 2016	MAR Marriott International	Marriott International	Buy - Position Entry	+2,086,158	$138.65K	2,086,158
Q2 2016Jun 30, 2016	SBH Sally Beauty Holdings, Inc. (Na	Sally Beauty Holdings, Inc. (Na	Buy - Position Entry	+1,246,957	$36.67K	1,246,957
Q2 2016Jun 30, 2016	CHKP Check Point	Check Point	Buy	+1,165,059+111.9%	$175.80K	2,206,298
Q2 2016Jun 30, 2016	M6158M104 Ituran	Ituran	Buy	+581,902+19.4%	$81.15K	3,576,270

Page 54 of 78 • 2313 total trades

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