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C.T. Fitzpatrick Vulcan Value Partners

AUM $3.29B
1-Year Est. Return 6.08%
 

C.T. Fitzpatrick is the founder of Vulcan Value Partners, a firm that seeks high-quality businesses when they trade at discounts to estimated intrinsic value. Vulcan is known for a disciplined appraisal process and a willingness to hold cash when bargains are scarce. The firm’s equities strategies are widely followed in quality-value circles.

This Fund
S&P 500
This Quarter Est. Return
+3.73%
1 Year Est. Return
-6.08%
3 Year Est. Return
+28.5%
5 Year Est. Return
+25.59%
10 Year Est. Return
+233.17%
AUM
$6.76B
AUM Growth
+$1.11B
Cap. Flow
+$858M
Cap. Flow %
12.69%
Top 10 Hldgs %
37.9%
Holding
106
New
45
Increased
39
Reduced
17
Closed
5

Top Buys

Rank Stock Value
1
DISCK
Discovery, Inc. Series C Common Stock
DISCK
+$140M
2
STT icon
State Street
STT
+$129M
3
V icon
Visa
V
+$120M
4
CME icon
CME Group
CME
+$104M
5
AET
Aetna Inc
AET
+$92.4M

Top Sells

Rank Stock Value
1
KO icon
Coca-Cola
KO
+$89M
2
AAPL icon
Apple
AAPL
+$78.5M
3
NSR
Neustar Inc
NSR
+$52.6M
4
QCOM icon
Qualcomm
QCOM
+$51.2M
5
KN icon
Knowles
KN
+$39.8M

Sector Composition

Rank Sector Weight
1 Financials 33.32%
2 Technology 20.12%
3 Communication Services 11.37%
4 Industrials 9.76%
5 Consumer Discretionary 7.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PRA
51
DELISTED
ProAssurance
PRA
$37.3M 0.55%
840,012
-292,160
-26% -$13.1M
HPY
52
DELISTED
HEARTLAND PAYMENT SYSTEMS, INC. COM STK
HPY
$36.5M 0.54%
885,362
-322,347
-27% -$13.1M
WWD icon
53
Woodward
WWD
$20.3B
$36.4M 0.54%
726,264
-31,305
-4% -$1.43M
SAFT icon
54
Safety Insurance
SAFT
$1.52B
$31.3M 0.46%
608,485
+146,455
+32% +$7.71M
OMCL icon
55
Omnicell
OMCL
$1.62B
$30M 0.44%
1,043,553
+979,636
+1,533% +$26.4M
G icon
56
Genpact
G
$6.24B
$28.5M 0.42%
1,624,216
+20,560
+1% +$351K
KMG
57
DELISTED
KMG Chemicals Inc
KMG
$26.8M 0.4%
1,492,067
+22,856
+2% +$373K
DCI icon
58
Donaldson
DCI
$10.8B
$26.2M 0.39%
620,226
+10,218
+2% +$426K
MSCI icon
59
MSCI
MSCI
$41B
$19.4M 0.29%
423,523
-373,724
-47% -$16.1M
ALB icon
60
Albemarle
ALB
$16.9B
$19.2M 0.28%
268,352
-3,128
-1% -$215K
EXPO icon
61
Exponent
EXPO
$3.34B
$18.5M 0.27%
+1,000,764
New +$17.9M
SNBR
62
DELISTED
Sleep Number
SNBR
$14.8M 0.22%
+717,956
New +$13.5M
NVS icon
63
Novartis
NVS
$302B
$53K ﹤0.01%
+647
New +$50.9K
AVA icon
64
Avista
AVA
$3.15B
$51K ﹤0.01%
+1,525
New +$48.3K
PNC icon
65
PNC Financial Services
PNC
$97B
$51K ﹤0.01%
+574
New +$49K
BDX icon
66
Becton Dickinson
BDX
$52.3B
$50K ﹤0.01%
+436
New +$49.4K
ED icon
67
Consolidated Edison
ED
$39.3B
$49K ﹤0.01%
+840
New +$46.9K
INTC icon
68
Intel
INTC
$476B
$49K ﹤0.01%
+1,570
New +$43K
EMC
69
DELISTED
EMC CORPORATION
EMC
$49K ﹤0.01%
+1,855
New +$49K
PG icon
70
Procter & Gamble
PG
$336B
$47K ﹤0.01%
+598
New +$48.2K
GOOG icon
71
Alphabet (Google) Class C
GOOG
$4.18T
$46K ﹤0.01%
+1,604
New +$43.5K
USB icon
72
US Bancorp
USB
$96.7B
$45K ﹤0.01%
+1,030
New +$43K
WFC icon
73
Wells Fargo
WFC
$254B
$45K ﹤0.01%
+860
New +$43.2K
ABBV icon
74
AbbVie
ABBV
$468B
$44K ﹤0.01%
+785
New +$41.2K
T icon
75
AT&T
T
$173B
$44K ﹤0.01%
+1,642
New +$44K
1 2
3
4 5

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C.T. Fitzpatrick's Q2 2014 Portfolio in Review

As of Q2 2014, C.T. Fitzpatrick held 106 positions worth $6.76B, up 20% from $5.65B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

C.T. Fitzpatrick deployed $858M of net new capital in Q2 2014, opening 45 new positions and adding to 39 existing holdings. Its largest new stake was State Street: 1,957,149 shares worth $132M.

By sector, the portfolio is most concentrated in Financials at 33% of assets, up from 28% a quarter earlier, followed by Technology and Communication Services.

On the sell side, the largest reduction was Coca-Cola, an estimated $89M trimmed.

  • C.T. Fitzpatrick's largest Q2 2014 buy was State Street: 1,957,149 shares worth $132M.
  • C.T. Fitzpatrick added most to Discovery, Inc. Series C Common Stock in Q2 2014, an estimated $140M increase.
  • C.T. Fitzpatrick's biggest Q2 2014 reduction was Coca-Cola, cutting an estimated $89M.
  • C.T. Fitzpatrick fully exited Neustar Inc in Q2 2014, selling an estimated $52.6M.
  • C.T. Fitzpatrick's ten largest holdings make up 38% of its $6.76B portfolio in Q2 2014.
  • C.T. Fitzpatrick opened 45 new positions and closed 5 in Q2 2014.
  • C.T. Fitzpatrick's portfolio value rose 20% quarter-over-quarter to $6.76B.

Based on Vulcan Value Partners's 13F filing for Q2 2014, filed 13 Aug 2014.