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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
+2.82%
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
$12.9B
AUM Growth
+$512M
Cap. Flow
+$279M
Cap. Flow %
2.16%
Top 10 Hldgs %
49.92%
Holding
59
New
7
Increased
23
Reduced
27
Closed
2

Top Buys

Rank Stock Value
1
KKR icon
KKR & Co
KKR
+$348M
2
UPS icon
United Parcel Service
UPS
+$326M
3
PH icon
Parker-Hannifin
PH
+$268M
4
AVGO icon
Broadcom
AVGO
+$227M
5
TER icon
Teradyne
TER
+$164M

Top Sells

Rank Stock Value
1
CAH icon
Cardinal Health
CAH
+$281M
2
AZO icon
AutoZone
AZO
+$241M
3
AXTA icon
Axalta
AXTA
+$182M
4
ORLY icon
O'Reilly Automotive
ORLY
+$172M
5
ELV icon
Elevance Health
ELV
+$155M

Sector Composition

Rank Sector Weight
1 Financials 33.77%
2 Technology 23.63%
3 Healthcare 13.09%
4 Industrials 9.47%
5 Energy 6.81%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EPAC icon
51
Enerpac Tool Group
EPAC
$1.9B
$11.2M 0.09%
381,441
-404,241
-51% -$10M
LSTR icon
52
Landstar System
LSTR
$6.33B
$4.01M 0.03%
+36,708
New +$4.03M
AZO icon
53
AutoZone
AZO
$48.3B
$100K ﹤0.01%
149
-373,863
-100% -$241M
ORLY icon
54
O'Reilly Automotive
ORLY
$72.1B
$76K ﹤0.01%
4,170
-9,877,425
-100% -$172M
CAH icon
55
Cardinal Health
CAH
$53.4B
$53K ﹤0.01%
1,087
-4,952,317
-100% -$281M
CBRE icon
56
CBRE Group
CBRE
$44B
$8K ﹤0.01%
165
-2,416,989
-100% -$114M
AXTA icon
57
Axalta
AXTA
$7.75B
$2K ﹤0.01%
55
-5,801,951
-100% -$182M
LNN icon
58
Lindsay Corp
LNN
$1.18B
– –
-62,012
Closed -$5.67M
RTX icon
59
RTX Corp
RTX
$283B
– –
-1,315,841
Closed -$104M
1 2
3

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C.T. Fitzpatrick's Q2 2018 Portfolio in Review

As of Q2 2018, C.T. Fitzpatrick held 59 positions worth $12.9B, up 4.1% from $12.4B the previous quarter. Its ten largest holdings account for 50% of the portfolio.

C.T. Fitzpatrick's Q2 2018 filing shows 7 new, 23 increased, 27 reduced and 2 closed positions. Its largest new stake was KKR & Co: 15,643,574 shares worth $389M. The largest sale was Cardinal Health, an estimated $281M.

By sector, the portfolio is most concentrated in Financials at 34% of assets, up from 33% a quarter earlier, followed by Technology and Healthcare.

  • C.T. Fitzpatrick's largest Q2 2018 buy was KKR & Co: 15,643,574 shares worth $389M.
  • C.T. Fitzpatrick added most to Parker-Hannifin in Q2 2018, an estimated $268M increase.
  • C.T. Fitzpatrick's biggest Q2 2018 reduction was Cardinal Health, cutting an estimated $281M.
  • C.T. Fitzpatrick fully exited RTX Corp in Q2 2018, selling an estimated $104M.
  • C.T. Fitzpatrick's ten largest holdings make up 50% of its $12.9B portfolio in Q2 2018.
  • C.T. Fitzpatrick opened 7 new positions and closed 2 in Q2 2018.
  • C.T. Fitzpatrick's portfolio value rose 4.1% quarter-over-quarter to $12.9B.

Based on Vulcan Value Partners's 13F filing for Q2 2018, filed 14 Aug 2018.