C.T. Fitzpatrick Vulcan Value Partners
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
DISCK
Discovery, Inc. Series C Common Stock
DISCK
|
+$239M |
| 2 |
Franklin Templeton, Inc.
BEN
|
+$226M |
| 3 |
Qualcomm
QCOM
|
+$209M |
| 4 |
NOV
NOV
|
+$149M |
| 5 |
Fossil Group
FOSL
|
+$144M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nasdaq
NDAQ
|
+$278M |
| 2 |
CB
CHUBB CORPORATION
CB
|
+$268M |
| 3 |
Verizon
VZ
|
+$149M |
| 4 |
SNI
Scripps Networks Interactive, Inc Common Class A
SNI
|
+$127M |
| 5 |
Walt Disney
DIS
|
+$93.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 33.39% |
| 2 | Technology | 23.09% |
| 3 | Industrials | 22.46% |
| 4 | Communication Services | 7.63% |
| 5 | Consumer Discretionary | 4.9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Graco
GGG
$13.1B
| $23.1M | 0.22% |
1,033,335
+263,949
| +34% | +$6.08M |
|
52
Jack Henry & Associates
JKHY
$11.8B
| $21.2M | 0.21% |
304,913
+2,311
| +0.8% | +$159K |
|
53
MillerKnoll
MLKN
$1.57B
| $21M | 0.2% |
729,113
+338,332
| +87% | +$9.52M |
|
|
54
Nasdaq
NDAQ
$54.9B
| $18.1M | 0.18% |
1,020,855
-16,222,761
| -94% | -$278M |
|
55
Core Laboratories
CLB
$574M
| $17.1M | 0.17% |
+171,164
| New | +$18.6M |
|
56
Chemed
CHE
$7.07B
| – | – |
-147,398
| Closed | -$19.3M |
|
57
Colgate-Palmolive
CL
$72.6B
| – | – |
-1,046,924
| Closed | -$68.5M |
|
58
MSCI
MSCI
$41B
| – | – |
-319,687
| Closed | -$19.7M |
|
59
Omnicell
OMCL
$1.62B
| – | – |
-395,561
| Closed | -$14.9M |
|
|
PRA
60
DELISTED
ProAssurance
PRA
| – | – |
-395,760
| Closed | -$18.3M |
|
61
Sabre
SABR
$848M
| – | – |
-767,888
| Closed | -$18.3M |
|
|
SNI
62
DELISTED
Scripps Networks Interactive, Inc Common Class A
SNI
| – | – |
-1,943,463
| Closed | -$127M |
|
|
UN
63
DELISTED
Unilever NV New York Registry Shares
UN
| – | – |
-2,019,435
| Closed | -$84.5M |
|
|
CB
64
DELISTED
CHUBB CORPORATION
CB
| – | – |
-2,819,115
| Closed | -$268M |
|
Similar funds
C.T. Fitzpatrick's Q3 2015 Portfolio in Review
As of Q3 2015, C.T. Fitzpatrick held 64 positions worth $10.3B, down 2.3% from $10.6B the previous quarter. Its ten largest holdings account for 48% of the portfolio.
C.T. Fitzpatrick deployed $945M of net new capital in Q3 2015, opening 3 new positions and adding to 42 existing holdings. Its largest new stake was Thermon Group Holdings: 2,130,767 shares worth $43.8M.
By sector, the portfolio is most concentrated in Financials at 33% of assets, down from 38% a quarter earlier, followed by Technology and Industrials.
On the sell side, the largest reduction was Nasdaq, an estimated $278M trimmed.
- C.T. Fitzpatrick's largest Q3 2015 buy was Thermon Group Holdings: 2,130,767 shares worth $43.8M.
- C.T. Fitzpatrick added most to Discovery, Inc. Series C Common Stock in Q3 2015, an estimated $239M increase.
- C.T. Fitzpatrick's biggest Q3 2015 reduction was Nasdaq, cutting an estimated $278M.
- C.T. Fitzpatrick fully exited CHUBB CORPORATION in Q3 2015, selling an estimated $268M.
- C.T. Fitzpatrick's ten largest holdings make up 48% of its $10.3B portfolio in Q3 2015.
- C.T. Fitzpatrick opened 3 new positions and closed 9 in Q3 2015.
- C.T. Fitzpatrick's portfolio value fell 2.3% quarter-over-quarter to $10.3B.
Based on Vulcan Value Partners's 13F filing for Q3 2015, filed 16 Nov 2015.