Vault-13

FIDUCIARY MANAGEMENT INC /WI/

MILWAUKEE, WI · CIK 764532 · 13F filing filed 2023-08-11

SEC-registered investment adviser since 1980 · corporation

$9.9bn reported value +0.1% vs Q1 2023
60positions
31.7%in top 10
3 new 28 added 29 reduced 2 sold out vs Q1 2023

Holdings, Q2 2023

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#SecurityTickerShares Value% of portfolioChangeShares change
1 BOOKING HOLDINGS INC COM BKNG BKNG 145,392 $392.6m3.97% 3.97% ReducedShares held: Q3 2022 232.7k, Q4 2022 233.9k, Q1 2023 226.7k, Q2 2023 145.4k -81.3k -81,338 -35.9%
2 CARLISLE COS INC COM CSL CSL 1,358,234 $348.4m3.52% 3.52% AddedShares held: Q3 2022 1.2m, Q4 2022 1.1m, Q1 2023 1.3m, Q2 2023 1.4m +16.6k +16,648 1.2%
3 FERGUSON PLC NEW SHS FERG1GBX FERG1GBX 2,094,350 $329.5m3.33% 3.33% ReducedShares held: Q3 2022 1.9m, Q4 2022 2.4m, Q1 2023 2.3m, Q2 2023 2.1m -197.7k -197,669 -8.6%
4 ALPHABET INC CAP STK CL A GOOGL GOOGL 2,726,884 $326.4m3.30% 3.30% ReducedShares held: Q3 2022 2.9m, Q4 2022 3.1m, Q1 2023 3.0m, Q2 2023 2.7m -265.8k -265,824 -8.9%
5 BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B BRK.B 942,690 $321.5m3.25% 3.25% ReducedShares held: Q3 2022 1.5m, Q4 2022 1.3m, Q1 2023 1.0m, Q2 2023 942.7k -93.4k -93,425 -9.0%
6 SONY GROUP CORP SPONSORED ADR SONY SONY 3,402,032 $306.3m3.09% 3.09% ReducedShares held: Q3 2022 3.4m, Q4 2022 3.5m, Q1 2023 3.7m, Q2 2023 3.4m -275.2k -275,195 -7.5%
7 UNITEDHEALTH GROUP INC COM UNH UNH 610,031 $293.2m2.96% 2.96% ReducedShares held: Q3 2022 607.5k, Q4 2022 538.8k, Q1 2023 662.2k, Q2 2023 610.0k -52.1k -52,149 -7.9%
8 SCHWAB CHARLES CORP COM SCHW SCHW 5,060,888 $286.9m2.90% 2.90% ReducedShares held: Q3 2022 5.2m, Q4 2022 4.6m, Q1 2023 5.5m, Q2 2023 5.1m -446.0k -446,047 -8.1%
9 AVERY DENNISON CORP COM AVY AVY 1,577,370 $271.0m2.74% 2.74% AddedShares held: Q3 2022 1.4m, Q4 2022 1.3m, Q1 2023 1.4m, Q2 2023 1.6m +191.4k +191,428 13.8%
10 MASCO CORP COM MAS MAS 4,572,230 $262.4m2.65% 2.65% ReducedShares held: Q3 2022 5.9m, Q4 2022 5.3m, Q1 2023 5.0m, Q2 2023 4.6m -448.7k -448,711 -8.9%
11 MICRON TECHNOLOGY INC COM MU MU 4,000,934 $252.5m2.55% 2.55% ReducedShares held: Q3 2022 4.5m, Q4 2022 4.0m, Q1 2023 4.3m, Q2 2023 4.0m -331.5k -331,521 -7.7%
12 SAP SE SPON ADR SAP SAP 1,797,387 $245.9m2.48% 2.48% ReducedShares held: Q3 2022 2.3m, Q4 2022 2.1m, Q1 2023 1.9m, Q2 2023 1.8m -151.4k -151,363 -7.8%
13 CARMAX INC COM KMX KMX 2,919,475 $244.4m2.47% 2.47% ReducedShares held: Q3 2022 2.6m, Q4 2022 3.3m, Q1 2023 3.2m, Q2 2023 2.9m -290.3k -290,298 -9.0%
14 CDW CORP COM CDW CDW 1,296,565 $237.9m2.40% 2.40% ReducedShares held: Q3 2022 1.7m, Q4 2022 1.5m, Q1 2023 1.4m, Q2 2023 1.3m -133.2k -133,230 -9.3%
15 ARCH CAP GROUP LTD ORD ACGL ACGL 3,127,266 $234.1m2.36% 2.36% ReducedShares held: Q3 2022 6.5m, Q4 2022 4.8m, Q1 2023 3.3m, Q2 2023 3.1m -130.3k -130,303 -4.0%
16 GENPACT LIMITED SHS G G 6,166,196 $231.7m2.34% 2.34% AddedShares held: Q3 2022 3.0m, Q4 2022 4.5m, Q1 2023 5.0m, Q2 2023 6.2m +1.1m +1,137,465 22.6%
17 OMNICOM GROUP INC COM OMC OMC 2,354,975 $224.1m2.26% 2.26% ReducedShares held: Q3 2022 3.1m, Q4 2022 2.7m, Q1 2023 2.6m, Q2 2023 2.4m -250.8k -250,770 -9.6%
18 CARRIER GLOBAL CORPORATION COM CARR CARR 4,406,034 $219.0m2.21% 2.21% NewShares held: Q3 2022 0, Q4 2022 0, Q1 2023 0, Q2 2023 4.4m
19 DOLLAR TREE INC COM DLTR DLTR 1,506,467 $216.2m2.18% 2.18% ReducedShares held: Q3 2022 2.2m, Q4 2022 1.7m, Q1 2023 1.7m, Q2 2023 1.5m -151.2k -151,205 -9.1%
20 SCHLUMBERGER LTD COM STK SLB SLB 4,285,701 $210.5m2.13% 2.13% ReducedShares held: Q3 2022 4.8m, Q4 2022 4.7m, Q1 2023 4.5m, Q2 2023 4.3m -263.8k -263,806 -5.8%
21 DOLLAR GEN CORP NEW COM DG DG 1,204,935 $204.6m2.07% 2.07% ReducedShares held: Q3 2022 1.9m, Q4 2022 1.4m, Q1 2023 1.3m, Q2 2023 1.2m -117.9k -117,915 -8.9%
22 UNILEVER PLC SPON ADR NEW SPON ADR NEW 3,671,403 $191.4m1.93% 1.93% ReducedShares held: Q3 2022 5.6m, Q4 2022 4.9m, Q1 2023 4.0m, Q2 2023 3.7m -293.6k -293,584 -7.4%
23 NORTHERN TR CORP COM NTRS NTRS 2,424,049 $179.7m1.82% 1.82% ReducedShares held: Q3 2022 2.7m, Q4 2022 2.4m, Q1 2023 2.7m, Q2 2023 2.4m -242.3k -242,322 -9.1%
24 SMITH & NEPHEW PLC SPDN ADR NEW SNN SNN 5,463,891 $176.2m1.78% 1.78% ReducedShares held: Q3 2022 7.0m, Q4 2022 6.2m, Q1 2023 5.9m, Q2 2023 5.5m -449.3k -449,253 -7.6%
25 KONINKLIJKE PHILIPS N V NY REGIS SHS NEW PHG PHG 8,045,770 $174.5m1.76% 1.76% ReducedShares held: Q3 2022 6.9m, Q4 2022 8.7m, Q1 2023 8.3m, Q2 2023 8.0m -271.1k -271,093 -3.3%
26 EATON CORP PLC SHS ETN ETN 790,415 $159.0m1.61% 1.61% ReducedShares held: Q3 2022 1.3m, Q4 2022 1.1m, Q1 2023 1.1m, Q2 2023 790.4k -289.6k -289,551 -26.8%
27 PROGRESSIVE CORP COM PGR PGR 1,196,933 $158.4m1.60% 1.60% AddedShares held: Q3 2022 1.2m, Q4 2022 1.1m, Q1 2023 1.0m, Q2 2023 1.2m +148.7k +148,676 14.2%
28 HENRY SCHEIN INC COM HSIC HSIC 1,927,639 $156.3m1.58% 1.58% AddedShares held: Q3 2022 1.9m, Q4 2022 1.9m, Q1 2023 1.8m, Q2 2023 1.9m +99.9k +99,931 5.5%
29 BEACON ROOFING SUPPLY INC COM BECN BECN 1,804,907 $149.8m1.51% 1.51% AddedShares held: Q3 2022 1.8m, Q4 2022 1.8m, Q1 2023 1.7m, Q2 2023 1.8m +97.1k +97,054 5.7%
30 FRESENIUS MEDICAL CARE AG SPONSORED ADR FMS FMS 6,191,233 $148.2m1.50% 1.50% AddedShares held: Q3 2022 6.1m, Q4 2022 5.4m, Q1 2023 5.2m, Q2 2023 6.2m +1.0m +1,019,948 19.7%
31 SKECHERS U S A INC CL A SKX SKX 2,749,173 $144.8m1.46% 1.46% ReducedShares held: Q3 2022 2.5m, Q4 2022 2.9m, Q1 2023 2.9m, Q2 2023 2.7m -150.2k -150,180 -5.2%
32 ROBERT HALF INC. COM RHI RHI 1,850,654 $139.2m1.41% 1.41% AddedShares held: Q3 2022 1.3m, Q4 2022 1.4m, Q1 2023 1.6m, Q2 2023 1.9m +284.2k +284,190 18.1%
33 INTERPUBLIC GROUP COS INC COM IPG IPG 3,570,230 $137.7m1.39% 1.39% ReducedShares held: Q3 2022 3.9m, Q4 2022 3.9m, Q1 2023 3.8m, Q2 2023 3.6m -181.6k -181,564 -4.8%
34 BLACKROCK INC COM BLK BLK 195,449 $135.1m1.36% 1.36% ReducedShares held: Q3 2022 238.0k, Q4 2022 225.6k, Q1 2023 212.7k, Q2 2023 195.4k -17.3k -17,260 -8.1%
35 BJS WHSL CLUB HLDGS INC COM BJ BJ 2,106,097 $132.7m1.34% 1.34% AddedShares held: Q3 2022 2.0m, Q4 2022 1.4m, Q1 2023 1.6m, Q2 2023 2.1m +546.2k +546,237 35.0%
36 PRIMERICA INC COM PRI PRI 661,889 $130.9m1.32% 1.32% AddedShares held: Q3 2022 650.9k, Q4 2022 638.7k, Q1 2023 623.0k, Q2 2023 661.9k +38.9k +38,872 6.2%
37 INSIGHT ENTERPRISES INC COM NSIT NSIT 869,702 $127.3m1.29% 1.29% ReducedShares held: Q3 2022 1.2m, Q4 2022 1.1m, Q1 2023 1.1m, Q2 2023 869.7k -214.1k -214,129 -19.8%
38 NVENT ELECTRIC PLC SHS NVT NVT 2,345,908 $121.2m1.22% 1.22% ReducedShares held: Q3 2022 2.7m, Q4 2022 2.7m, Q1 2023 2.6m, Q2 2023 2.3m -242.9k -242,859 -9.4%
39 SIMPSON MFG INC COM SSD SSD 873,637 $121.0m1.22% 1.22% AddedShares held: Q3 2022 861.5k, Q4 2022 839.7k, Q1 2023 822.8k, Q2 2023 873.6k +50.9k +50,854 6.2%
40 FORTUNE BRANDS INNOVATIONS I COM FBIN FBIN 1,641,443 $118.1m1.19% 1.19% AddedShares held: Q3 2022 0, Q4 2022 1.0m, Q1 2023 1.5m, Q2 2023 1.6m +100.7k +100,702 6.5%
41 FIRSTCASH HOLDINGS INC COM FCFS FCFS 1,231,790 $115.0m1.16% 1.16% AddedShares held: Q3 2022 1.5m, Q4 2022 1.2m, Q1 2023 1.2m, Q2 2023 1.2m +60.5k +60,532 5.2%
42 PLEXUS CORP COM PLXS PLXS 1,165,356 $114.5m1.16% 1.16% AddedShares held: Q3 2022 1.2m, Q4 2022 1.1m, Q1 2023 1.1m, Q2 2023 1.2m +62.1k +62,117 5.6%
43 TJX COS INC NEW COM TJX TJX 1,346,829 $114.2m1.15% 1.15% ReducedShares held: Q3 2022 2.8m, Q4 2022 1.6m, Q1 2023 1.5m, Q2 2023 1.3m -142.0k -142,000 -9.5%
44 HOULIHAN LOKEY INC CL A HLI HLI 1,140,679 $112.1m1.13% 1.13% AddedShares held: Q3 2022 978.8k, Q4 2022 1.1m, Q1 2023 1.1m, Q2 2023 1.1m +53.8k +53,799 5.0%
45 DONALDSON INC COM DCI DCI 1,728,812 $108.1m1.09% 1.09% ReducedShares held: Q3 2022 1.7m, Q4 2022 1.9m, Q1 2023 1.9m, Q2 2023 1.7m -145.8k -145,790 -7.8%
46 ARROW ELECTRS INC COM ARW ARW 732,549 $104.9m1.06% 1.06% AddedShares held: Q3 2022 738.2k, Q4 2022 718.7k, Q1 2023 697.4k, Q2 2023 732.5k +35.1k +35,115 5.0%
47 APPLIED INDL TECHNOLOGIES IN COM AIT AIT 643,835 $93.2m0.94% 0.94% AddedShares held: Q3 2022 634.2k, Q4 2022 622.6k, Q1 2023 601.6k, Q2 2023 643.8k +42.2k +42,236 7.0%
48 TRIMAS CORP COM NEW TRS TRS 2,960,162 $81.4m0.82% 0.82% AddedShares held: Q3 2022 2.9m, Q4 2022 2.9m, Q1 2023 2.8m, Q2 2023 3.0m +160.5k +160,503 5.7%
49 LGI HOMES INC COM LGIH LGIH 580,082 $78.2m0.79% 0.79% AddedShares held: Q3 2022 565.1k, Q4 2022 552.1k, Q1 2023 545.0k, Q2 2023 580.1k +35.1k +35,087 6.4%
50 TRITON INTL LTD CL A TRTN TRTN 917,486 $76.4m0.77% 0.77% AddedShares held: Q3 2022 494.2k, Q4 2022 484.8k, Q1 2023 869.5k, Q2 2023 917.5k +48.0k +48,035 5.5%
51 GATES INDL CORP PLC ORD SHS 9666678D 9666678D 5,323,374 $71.8m0.72% 0.72% AddedShares held: Q3 2022 2.7m, Q4 2022 4.0m, Q1 2023 5.0m, Q2 2023 5.3m +356.3k +356,266 7.2%
52 ITT INC COM ITT ITT 704,891 $65.7m0.66% 0.66% AddedShares held: Q3 2022 0, Q4 2022 355.7k, Q1 2023 660.6k, Q2 2023 704.9k +44.3k +44,259 6.7%
53 LCI INDS COM LCII LCII 495,519 $62.6m0.63% 0.63% AddedShares held: Q3 2022 490.6k, Q4 2022 475.8k, Q1 2023 468.7k, Q2 2023 495.5k +26.8k +26,794 5.7%
54 APTARGROUP INC COM ATR ATR 505,001 $58.5m0.59% 0.59% AddedShares held: Q3 2022 501.3k, Q4 2022 492.9k, Q1 2023 479.1k, Q2 2023 505.0k +25.9k +25,929 5.4%
55 ZIONS BANCORPORATION N A COM ZION ZION 2,124,383 $57.1m0.58% 0.58% AddedShares held: Q3 2022 1.5m, Q4 2022 1.5m, Q1 2023 2.0m, Q2 2023 2.1m +117.1k +117,129 5.8%
56 WHITE MTNS INS GROUP LTD COM WTM WTM 36,496 $50.7m0.51% 0.51% AddedShares held: Q3 2022 36.0k, Q4 2022 35.2k, Q1 2023 34.4k, Q2 2023 36.5k +2.1k +2,072 6.0%
57 FABRINET SHS FN FN 316,099 $41.1m0.41% 0.41% NewShares held: Q3 2022 0, Q4 2022 0, Q1 2023 0, Q2 2023 316.1k
58 CTS CORP COM CTS CTS 720,982 $30.7m0.31% 0.31% NewShares held: Q3 2022 0, Q4 2022 0, Q1 2023 0, Q2 2023 721.0k
59 Sodexo ADR SDXAY SDXAY 60,525 $1.3m0.01% 0.01% AddedShares held: Q3 2022 14.3k, Q4 2022 17.7k, Q1 2023 27.3k, Q2 2023 60.5k +33.2k +33,215 121.6%
60 B&M European Value ADR BMRRY BMRRY 39,810 $1.1m0.01% 0.01% AddedShares held: Q3 2022 0, Q4 2022 17.3k, Q1 2023 18.0k, Q2 2023 39.8k +21.8k +21,795 121.0%

Sold out since Q1 2023

SecurityTickerShares held beforeValue then
PACCAR INC PCAR PCAR 2,968,497 $217.3m3.0m shares
MANPOWERGROUP INC WIS MAN MAN 406,591 $33.6m406.6k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

CompanyTickerStakeChange ScheduleLast filed
INSIGHT ENTERPRISES INC NSIT · 13G · filed 2026-06-23 NSIT 6.2%≈ $228.4m new 13G 2026-06-23
HURON CONSULTING GROUP INC HURN · 13G · filed 2026-06-23 HURN 5.5%≈ $81.5m new 13G 2026-06-23
HAYWARD HLDGS INC HAYW · 13G · filed 2026-08-04 HAYW 5.4%≈ $202.8m new 13G 2026-08-04