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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
+2.72%
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
$11.8B
AUM Growth
+$570M
Cap. Flow
+$284M
Cap. Flow %
2.41%
Top 10 Hldgs %
53.02%
Holding
62
New
4
Increased
23
Reduced
18
Closed
12

Top Buys

Rank Stock Value
1
BN icon
Brookfield
BN
+$194M
2
ELV icon
Elevance Health
ELV
+$162M
3
ORCL icon
Oracle
ORCL
+$117M
4
META icon
Meta Platforms (Facebook)
META
+$113M
5
REZI icon
Resideo Technologies
REZI
+$74.4M

Top Sells

Rank Stock Value
1
TER icon
Teradyne
TER
+$272M
2
UPS icon
United Parcel Service
UPS
+$150M
3
MCK icon
McKesson
MCK
+$124M
4
BLK icon
Blackrock
BLK
+$98.2M
5
SPGI icon
S&P Global
SPGI
+$71.4M

Sector Composition

Rank Sector Weight
1 Technology 26.3%
2 Financials 23.21%
3 Healthcare 15.32%
4 Consumer Discretionary 12.53%
5 Industrials 8.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AXTA icon
51
Axalta
AXTA
$7.75B
– –
-55
Closed -$2K
AZO icon
52
AutoZone
AZO
$48.3B
– –
-33
Closed -$36K
BNY
53
Bank of New York Mellon
BNY
$108B
– –
-532
Closed -$23K
CAH icon
54
Cardinal Health
CAH
$53.4B
– –
-465
Closed -$22K
CBRE icon
55
CBRE Group
CBRE
$44B
– –
-157
Closed -$8K
CHH icon
56
Choice Hotels
CHH
$4.93B
– –
-298
Closed -$26K
DESP
57
DELISTED
Despegar.com
DESP
– –
-3,474,728
Closed -$48.3M
FTDR icon
58
Frontdoor
FTDR
$5.69B
– –
-503,570
Closed -$21.9M
MCO icon
59
Moody's
MCO
$87.2B
– –
-64
Closed -$13K
NTRS icon
60
Northern Trust
NTRS
$33.6B
– –
-226
Closed -$20K
ORLY icon
61
O'Reilly Automotive
ORLY
$72.1B
– –
-1,065
Closed -$26K
STT icon
62
State Street
STT
$51.4B
– –
-383
Closed -$21K
1 2
3

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C.T. Fitzpatrick's Q3 2019 Portfolio in Review

As of Q3 2019, C.T. Fitzpatrick held 62 positions worth $11.8B, up 5.1% from $11.2B the previous quarter. Its ten largest holdings account for 53% of the portfolio.

C.T. Fitzpatrick's Q3 2019 filing shows 4 new, 23 increased, 18 reduced and 12 closed positions. Its largest new stake was Brookfield: 10,692,451 shares worth $203M. The largest sale was Teradyne, an estimated $272M.

By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 27% a quarter earlier, followed by Financials and Healthcare.

  • C.T. Fitzpatrick's largest Q3 2019 buy was Brookfield: 10,692,451 shares worth $203M.
  • C.T. Fitzpatrick added most to Elevance Health in Q3 2019, an estimated $162M increase.
  • C.T. Fitzpatrick's biggest Q3 2019 reduction was Teradyne, cutting an estimated $272M.
  • C.T. Fitzpatrick fully exited Despegar.com in Q3 2019, selling an estimated $48.3M.
  • C.T. Fitzpatrick's ten largest holdings make up 53% of its $11.8B portfolio in Q3 2019.
  • C.T. Fitzpatrick opened 4 new positions and closed 12 in Q3 2019.
  • C.T. Fitzpatrick's portfolio value rose 5.1% quarter-over-quarter to $11.8B.

Based on Vulcan Value Partners's 13F filing for Q3 2019, filed 14 Nov 2019.