CIK: 0000764532
Total reported value
$8.1B
Reporting period: 2026-03-31 · Number of holdings: 62
FIDUCIARY MANAGEMENT INC /WI/ disclosed 62 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $8.1B and a quarterly turnover rate of 27.7%.
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Fiduciary Management INC /wi/'s disclosed holdings carry a Herfindahl concentration index of 0.023 — mathematically equivalent to about 44 equally-sized positions, close to its 62 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.64), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim GOOGL
-59.2% -$157.0M
Trim DCI
-38.5% -$84.7M
Add ARMK
-7.7% $6.2M
Add CDW
+41.0% $35.2M
Add MWA
+31.3% $38.9M
Add ACGL
+31.4% $33.6M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ARMK | Aramark | Stock-Industrials | 5.33% | +0.68% | -7.74% | |
| 2 | BKNG | Booking Holdings INC | Stock-Consumer Disc | 4.91% | — | +28.47% | |
| 3 | SCHW | Schwab (charles) CORP | Stock-Financials | 4.04% | -0.21% | -10.51% | |
| 4 | FERG | Ferguson Enterprises INC | Stock-Industrials | 3.87% | +0.23% | -10.01% | |
| 5 | AVY | Avery Dennison CORP | Stock-Consumer Disc | 2.68% | -0.12% | -10.59% | |
| 6 | CARR | Carrier Global CORP | Stock-Industrials | 2.49% | +0.18% | -10.19% | |
| 7 | BDX | Becton Dickinson And Co | Stock-Healthcare | 2.42% | +0.07% | +12.35% | |
| 8 | ✓ | Accenture plc | Stock-Other | 2.37% | — | +35.20% | |
| 9 | WTM | White Mountains Insurance Group, Ltd. | Stock-Financials | 2.32% | — | -5.83% | |
| 10 | CDW | Cdw Corp/de | Stock-Tech | 2.17% | +0.64% | +40.99% | |
| 11 | PRI | Primerica INC | Stock-Financials | 2.15% | +0.41% | +13.21% | |
| 12 | FCFS | Firstcash Holdings INC | Stock-Financials | 2.13% | +0.44% | -5.42% | |
| 13 | CSL | Carlisle Cos INC | Stock-Industrials | 2.04% | +0.16% | -7.81% | |
| 14 | VVV | Valvoline INC | Stock-Consumer Disc | 2.02% | +0.43% | -2.88% | |
| 15 | ZION | Zions Bancorp NA | Stock-Financials | 1.99% | +0.13% | -3.68% | |
| 16 | ATR | Aptargroup INC | Stock-Healthcare | 1.96% | +0.29% | +0.38% | |
| 17 | GTES | Gates Industrial Corporation plc | Stock-Industrials | 1.87% | — | -4.32% | |
| 18 | ARW | Arrow Electronics INC | Stock-Tech | 1.87% | -0.07% | -34.65% | |
| 19 | ALLE | Allegion plc | Stock-Industrials | 1.86% | +0.08% | +1.70% | |
| 20 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.81% | -0.10% | -11.95% | |
| 21 | FCN | Fti Consulting INC | Stock-Industrials | 1.81% | +1.81% | NEW | |
| 22 | HSIC | Henry Schein INC | Stock-Healthcare | 1.79% | -0.12% | -14.80% | |
| 23 | OMF | Onemain Holdings INC | Stock-Financials | 1.78% | -0.31% | -4.61% | |
| 24 | MAS | Masco CORP | Stock-Industrials | 1.77% | -0.07% | -10.16% | |
| 25 | DGX | Quest Diagnostics INC | Stock-Healthcare | 1.75% | -0.25% | -31.13% | |
| 26 | ACGL | Arch Capital Group Ltd. | Stock-Financials | 1.74% | +0.57% | +31.37% | |
| 27 | PHG | Koninklijke Philips Nvr- Ny | Stock-Healthcare | 1.69% | -0.26% | -23.94% | |
| 28 | SYY | Sysco CORP | Stock-Consumer Staples | 1.66% | -0.05% | -10.98% | |
| 29 | PNC | Pnc Financial Services Group | Stock-Financials | 1.64% | +1.64% | NEW | |
| 30 | UL | Unilever Plc-sponsored Adr | Stock-Consumer Staples | 1.62% | -0.23% | -10.66% | |
| 31 | CVCO | Cavco Industries INC | Stock-Consumer Disc | 1.61% | +0.34% | +36.69% | |
| 32 | NSIT | Insight Enterprises INC | Stock-Tech | 1.56% | +0.38% | +41.79% | |
| 33 | SUNB | Sunbelt Rentals Holdings INC | Stock-Industrials | 1.55% | +1.55% | NEW | |
| 34 | CNM | Core & Main Inc-class A | Stock-Industrials | 1.52% | +0.03% | -4.99% | |
| 35 | DCI | Donaldson Co INC | Stock-Industrials | 1.50% | -0.76% | -38.52% | |
| 36 | HAYW | Hayward Holdings INC | Stock-Other | 1.45% | -0.09% | -3.86% | |
| 37 | DLTR | Dollar Tree INC | Stock-Consumer Staples | 1.45% | -0.15% | -9.84% | |
| 38 | HLI | Houlihan Lokey INC | Stock-Financials | 1.43% | +0.09% | +15.24% | |
| 39 | HURN | Huron Consulting Group INC | Stock-Other | 1.43% | +0.43% | +72.30% | |
| 40 | PGR | Progressive CORP | Stock-Financials | 1.43% | +0.41% | +42.06% | |
| 41 | MWA | Mueller Water Products Inc-a | Stock-Industrials | 1.42% | +0.59% | +31.30% | |
| 42 | MSA | Msa Safety INC | Stock-Industrials | 1.38% | — | -5.10% | |
| 43 | COF | Capital One Financial CORP | Stock-Financials | 1.33% | -0.42% | -10.80% | |
| 44 | FMS | Fresenius Medical Care-adr | Stock-Other | 1.25% | -0.05% | -10.07% | |
| 45 | UNH | Unitedhealth Group INC | Stock-Healthcare | 1.20% | -0.23% | -8.95% | |
| 46 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.17% | -1.59% | -59.18% | |
| 47 | LPX | Louisiana-pacific CORP | Stock-Industrials | 1.14% | — | +15.23% | |
| 48 | RYAAY | Ryanair Holdings Plc-sp Adr | Stock-Industrials | 1.03% | -0.19% | -6.06% | |
| 49 | FBIN | Fortune Brands Innovations I | Stock-Industrials | 1.00% | -0.17% | -2.60% | |
| 50 | SSD | Simpson Manufacturing Co INC | Stock-Materials | 0.92% | — | -4.61% |
Performance for Q3 2026
+6.6%
Performance Last 4 Quarters
+13.8%
Based on 85% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 62 | $8.1B | 28 | |
| 2025-12-31 | 67 | $9.1B | 27 | |
| 2025-09-30 | 68 | $9.9B | 34 | |
| 2025-06-30 | 67 | $10.4B | 0 | |
| 2025-03-31 | 66 | $10.4B | 100 | |
| 2024-12-31 | 70 | $10.7B | 0 | |
| 2024-09-30 | 69 | $11.4B | 0 | |
| 2024-06-30 | 70 | $10.7B | 0 | |
| 2024-03-31 | 68 | $11.2B | 0 | |
| 2023-12-31 | 67 | $10.7B | 0 | |
| 2023-09-30 | 67 | $9.8B | 0 | |
| 2023-06-30 | 60 | $9.9B | 0 | |
| 2023-03-31 | 59 | $9.9B | 0 | |
| 2022-12-31 | 70 | $9.9B | 0 | |
| 2022-09-30 | 66 | $9.5B | 0 | |
| 2022-06-30 | 67 | $10.6B | 0 | |
| 2022-03-31 | 73 | $12.4B | 0 | |
| 2021-12-31 | 75 | $13.6B | 0 | |
| 2021-09-30 | 72 | $13.4B | 0 | |
| 2021-06-30 | 73 | $13.6B | 99 | |
| 2021-03-31 | 69 | $13.3B | 19 | |
| 2020-12-31 | 73 | $13.2B | 21 | |
| 2020-09-30 | 68 | $12.1B | 9 | |
| 2020-06-30 | 69 | $11.9B | 25 | |
| 2020-03-31 | 70 | $11.5B | 46 | |
| 2019-12-31 | 66 | $16.1B | 18 | |
| 2019-09-30 | 67 | $15.4B | 18 | |
| 2019-06-30 | 66 | $15.6B | 17 | |
| 2019-03-31 | 70 | $15.3B | 23 | |
| 2018-12-31 | 68 | $14.0B | 21 | |
| 2018-09-30 | 68 | $16.0B | 16 | |
| 2018-06-30 | 65 | $15.6B | 48 | |
| 2018-03-31 | 65 | $16.3B | 21 | |
| 2017-12-31 | 66 | $16.3B | 20 | |
| 2017-09-30 | 66 | $16.9B | 10 | |
| 2017-06-30 | 70 | $16.7B | 12 | |
| 2017-03-31 | 70 | $17.3B | 19 | |
| 2016-12-31 | 73 | $16.3B | 18 | |
| 2016-09-30 | 73 | $15.9B | 24 | |
| 2016-06-30 | 74 | $16.4B | 10 | |
| 2016-03-31 | 74 | $17.0B | 14 | |
| 2015-12-31 | 75 | $17.6B | 8 | |
| 2015-09-30 | 74 | $18.1B | 15 | |
| 2015-06-30 | 70 | $19.2B | 19 | |
| 2015-03-31 | 69 | $19.3B | 15 | |
| 2014-12-31 | 73 | $20.1B | 15 | |
| 2014-09-30 | 73 | $18.6B | 36 | |
| 2014-06-30 | 69 | $19.0B | 25 | |
| 2014-03-31 | 67 | $18.5B | 23 | |
| 2013-12-31 | 67 | $19.1B | 27 | |
| 2013-09-30 | 60 | $16.4B | 21 | |
| 2013-06-30 | 65 | $16.0B | 0 |
Fiduciary Management INC /wi/'s most significant position changes for 2026-03-31: Sold out: Plexus CORP (PLXS); Sold out: Slb LTD (SLB); New buy: Fti Consulting INC (FCN); Sold out: Csx CORP (CSX); Sold out: Sony Group CORP - Sp Adr (SONY).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ARMK | Aramark | +0.7% | -7.74% | Trim |
| 2 | CDW | Cdw Corp/de | +0.6% | +40.99% | Add |
| 3 | MWA | Mueller Water Products Inc-a | +0.6% | +31.30% | Add |
| 4 | ACGL | Arch Capital Group Ltd. | +0.6% | +31.37% | Add |
| 5 | FCFS | Firstcash Holdings INC | +0.4% | -5.42% | Trim |
| 6 | HURN | Huron Consulting Group INC | +0.4% | +72.30% | Add |
| 7 | VVV | Valvoline INC | +0.4% | -2.88% | Trim |
| 8 | PGR | Progressive CORP | +0.4% | +42.06% | Add |
| 9 | PRI | Primerica INC | +0.4% | +13.21% | Add |
| 10 | NSIT | Insight Enterprises INC | +0.4% | +41.79% | Add |
| 11 | CVCO | Cavco Industries INC | +0.3% | +36.69% | Add |
| 12 | ATR | Aptargroup INC | +0.3% | +0.38% | Add |
| 13 | FERG | Ferguson Enterprises INC | +0.2% | -10.01% | Trim |
| 14 | CARR | Carrier Global CORP | +0.2% | -10.19% | Trim |
| 15 | CSL | Carlisle Cos INC | +0.2% | -7.81% | Trim |
| 16 | ZION | Zions Bancorp NA | +0.1% | -3.68% | Trim |
| 17 | HLI | Houlihan Lokey INC | +0.1% | +15.24% | Add |
| 18 | ALLE | Allegion plc | +0.1% | +1.70% | Add |
| 19 | BDX | Becton Dickinson And Co | +0.1% | +12.35% | Add |
| 20 | CNM | Core & Main Inc-class A | 0% | -4.99% | Trim |
| 21 | SYY | Sysco CORP | -0.1% | -10.98% | Trim |
| 22 | FMS | Fresenius Medical Care-adr | -0.1% | -10.07% | Trim |
| 23 | ARW | Arrow Electronics INC | -0.1% | -34.65% | Trim |
| 24 | MAS | Masco CORP | -0.1% | -10.16% | Trim |
| 25 | HAYW | Hayward Holdings INC | -0.1% | -3.86% | Trim |
| 26 | BRK-B | Berkshire Hathaway Inc-cl B | -0.1% | -11.95% | Trim |
| 27 | KO | The Coca-Cola Company | -0.1% | -20.62% | Trim |
| 28 | AVY | Avery Dennison CORP | -0.1% | -10.59% | Trim |
| 29 | HSIC | Henry Schein INC | -0.1% | -14.80% | Trim |
| 30 | DLTR | Dollar Tree INC | -0.2% | -9.84% | Trim |
| 31 | FBIN | Fortune Brands Innovations I | -0.2% | -2.60% | Trim |
| 32 | RYAAY | Ryanair Holdings Plc-sp Adr | -0.2% | -6.06% | Trim |
| 33 | SCHW | Schwab (charles) CORP | -0.2% | -10.51% | Trim |
| 34 | UL | Unilever Plc-sponsored Adr | -0.2% | -10.66% | Trim |
| 35 | UNH | Unitedhealth Group INC | -0.2% | -8.95% | Trim |
| 36 | DGX | Quest Diagnostics INC | -0.3% | -31.13% | Trim |
| 37 | PHG | Koninklijke Philips Nvr- Ny | -0.3% | -23.94% | Trim |
| 38 | OMF | Onemain Holdings INC | -0.3% | -4.61% | Trim |
| 39 | COF | Capital One Financial CORP | -0.4% | -10.80% | Trim |
| 40 | DCI | Donaldson Co INC | -0.8% | -38.52% | Trim |
| 41 | GOOGL | Alphabet Inc-cl A | -1.6% | -59.18% | Trim |
| 42 | PLXS | Plexus CORP | — | EXIT | Sold out |
| 43 | SLB | Slb LTD | — | EXIT | Sold out |
| 44 | FCN | Fti Consulting INC | — | NEW | New buy |
| 45 | CSX | Csx CORP | — | EXIT | Sold out |
| 46 | SONY | Sony Group CORP - Sp Adr | — | EXIT | Sold out |
| 47 | PNC | Pnc Financial Services Group | — | NEW | New buy |
| 48 | SUNB | Sunbelt Rentals Holdings INC | — | NEW | New buy |
| 49 | ✓ | ICON Public Limited Company | — | EXIT | Sold out |
| 50 | IJR | Ishares Core S&p Small-cap E | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-14 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-11 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-13 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-13 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-14 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-11 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-12 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-12 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-11 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-13 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-13 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-12 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-13 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-11 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-14 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-11 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-13 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-13 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-14 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-13 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-13 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-10 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-11 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-13 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-13 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-11 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-12 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-13 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-12 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-12 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-12 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-13 | Amendment | View on EDGAR |
| 2015-06-30 | 2015-08-12 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-13 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-13 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-12 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-13 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-12 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-12 | Amendment | View on EDGAR |
| 2013-12-31 | 2014-02-18 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-14 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-14 | 13F-HR | View on EDGAR |
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