FIDUCIARY MANAGEMENT INC /WI/
Sector Allocation
- Industrials23.3%$1.6B
- Financials22.1%$1.6B
- Consumer Discretionary21.6%$1.5B
- Healthcare11.4%$800.7M
- Materials7.0%$492.7M
- Technology5.2%$365.8M
- Consumer Staples4.0%$279.2M
- Energy2.9%$202.5M
- Other2.5%$178.9M
AUM History
13fpro.ai/research/fund/fiduciary-management-inc-wi-764532
Conviction and streaks
Stable · top 10 = 33.4%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
ARMK
$371.0MBKNG
$331.2MNSIT
$267.7MSCHW
$211.8MVVV
$202.5MHAYW
$202.3MFERG
$200.5MCDW
$196.0MOMF
$187.8MZION
$179.3MATR
$178.3M- Gates$173.1M
CSL
$162.5MCVCO
$153.7MMWA
$152.4MAVY
$151.9MPRI
$151.8MHSIC
$151.8MCOF
$151.2MFCN
$142.7M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/fiduciary-management-inc-wi-764532
FIDUCIARY MANAGEMENT INC /WI/ 13F holdings — Q2 2026
$7.0B portfolio (-12.7% QoQ) · 56 holdings · Q2 2026 13F · top 10 are 33% of the stock portfolio
$371.0M
5.3% of stocks
-38%This quarter-11.0%Since filed7+ qtrsHeldAIQuality48.1#1,751Est. buyEstimated buy price is Pro: unlock with a free trialTrimmed 5 qtrs in a row$331.2M
4.7% of stocks
+1879%This quarter-28.2%Since filed7+ qtrsHeld$267.7M
3.8% of stocks
+17%This quarter+14.1%Since filed7+ qtrsHeldAIQuality49.4#1,681Est. buyEstimated buy price is Pro: unlock with a free trialAdded 2 qtrs in a row$211.8M
3.0% of stocks
-34%This quarter-18.5%Since filed7+ qtrsHeld$202.5M
2.9% of stocks
+6%This quarter-5.4%Since filed7+ qtrsHeld$202.3M
2.9% of stocks
+34%This quarter-16.1%Since filed7+ qtrsHeld$200.5M
2.9% of stocks
-37%This quarter-7.5%Since filed7+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 5 qtrs in a row$196.0M
2.8% of stocks
-3%This quarter+14.9%Since filed7+ qtrsHeld$187.8M
2.7% of stocks
+15%This quarter-13.7%Since filed7+ qtrsHeld$179.3M
2.5% of stocks
-7%This quarter-7.9%Since filed7+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 3 qtrs in a row
All holdings — FIDUCIARY MANAGEMENT INC /WI/ (Q2 2026)
56 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | APTARGROUP, INC. | Materials | $178.3M | 2.5% | 1.42M | +14% | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | — | Gates Industrial - COM | — | $173.1M | 2.5% | 6.19M | New | — | — | 13F |
| 13 | CARLISLE COMPANIES INC | Materials | $162.5M | 2.3% | 448K | -9% | 7+ qtrsTrimmed 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | CAVCO INDUSTRIES, INC. | Industrials | $153.7M | 2.2% | 250K | -6% | 4 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | Mueller Water Products, Inc. | Industrials | $152.4M | 2.2% | 5.90M | +42% | 3 qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | Avery Dennison Corp | Materials | $151.9M | 2.2% | 936K | -25% | 7+ qtrsTrimmed 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | Primerica, Inc. | Financials | $151.8M | 2.2% | 534K | -23% | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | HENRY SCHEIN INC | Healthcare | $151.8M | 2.2% | 1.82M | -7% | 7+ qtrsTrimmed 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | CAPITAL ONE FINANCIAL CORP | Financials | $151.2M | 2.1% | 754K | +29% | 5 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | FTI CONSULTING, INC | Technology | $142.7M | 2.0% | 958K | +16% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | CARRIER GLOBAL Corp | Industrials | $141.1M | 2.0% | 1.92M | -46% | 7+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | WHITE MOUNTAINS INSURANCE GROUP LTD | Financials | $138.0M | 2.0% | 67K | -22% | 7+ qtrsTrimmed 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | LOUISIANA-PACIFIC CORP | Industrials | $137.7M | 2.0% | 1.75M | +38% | 5 qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | UNITEDHEALTH GROUP INC | Healthcare | $135.5M | 1.9% | 326K | -9% | 7+ qtrsTrimmed 5 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | MASCO CORP /DE/ | Industrials | $127.2M | 1.8% | 1.56M | -34% | 7+ qtrsTrimmed 6 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $BDX | BECTON DICKINSON & CO | Healthcare | $125.9M | 1.8% | 832K | -33% | |||
| 27 | $HLI | HOULIHAN LOKEY, INC. | Financials | $125.9M | 1.8% | 938K | +17% | |||
| 28 | $MSA | MSA Safety Inc | Healthcare | $124.6M | 1.8% | 714K | +5% | |||
| 29 | $ACGL | ARCH CAPITAL GROUP LTD. | Financials | $118.9M | 1.7% | 1.23M | -16% | |||
| 30 | $HURN | Huron Consulting Group Inc. | Technology | $116.6M | 1.7% | 1.29M | +43% | |||
| 31 | $SUNB | Sunbelt Rentals Holdings, Inc. | Industrials | $116.2M | 1.6% | 1.55M | -19% | |||
| 32 | $DCI | DONALDSON Co INC | Industrials | $114.8M | 1.6% | 1.28M | -10% | |||
| 33 | $ALLE | Allegion plc | Industrials | $112.9M | 1.6% | 804K | -22% | |||
| 34 | $PGR | PROGRESSIVE CORP/OH/ | Financials | $112.2M | 1.6% | 513K | -11% | |||
| 35 | $CNM | Core & Main, Inc. | Consumer Discretionary | $111.4M | 1.6% | 2.31M | -7% | |||
| 36 | $UL | UNILEVER PLC | Consumer Staples | $107.4M | 1.5% | 1.79M | -22% | |||
| 37 | $ACN | Accenture plc | Technology | $106.4M | 1.5% | 855K | -11% | |||
| 38 | $FBIN | Fortune Brands Innovations, Inc. | Industrials | $105.9M | 1.5% | 1.93M | -7% | |||
| 39 | $PNC | PNC FINANCIAL SERVICES GROUP, INC. | Financials | $105.2M | 1.5% | 427K | -33% | |||
| 40 | $DGX | QUEST DIAGNOSTICS INC | Healthcare | $102.5M | 1.5% | 484K | -33% | |||
| 41 | $PHG | KONINKLIJKE PHILIPS NV | Healthcare | $94.1M | 1.3% | 3.46M | -30% | |||
| 42 | $BJ | BJ's Wholesale Club Holdings, Inc. | Consumer Staples | $86.2M | 1.2% | 988K | +43% | |||
| 43 | $DLTR | DOLLAR TREE, INC. | Consumer Staples | $85.6M | 1.2% | 707K | -34% | |||
| 44 | $SSD | Simpson Manufacturing Co., Inc. | Industrials | $84.7M | 1.2% | 405K | -7% | |||
| 45 | $RYAAY | RYANAIR HOLDINGS PLC | Industrials | $83.3M | 1.2% | 1.29M | -11% | |||
| 46 | $BRK.B | BERKSHIRE HATHAWAY INC | Financials | $71.7M | 1.0% | 143K | -53% | |||
| 47 | $FMS | Fresenius Medical Care AG | Healthcare | $66.4M | 0.9% | 2.94M | -34% | |||
| 48 | $ALH | Alliance Laundry Holdings Inc. | Industrials | $59.2M | 0.8% | 2.23M | New | |||
| 49 | $RHI | ROBERT HALF INC. | Industrials | $46.7M | 0.7% | 1.52M | -11% | |||
| 50 | $FCFS | FirstCash Holdings, Inc. | Consumer Discretionary | $41.0M | 0.6% | 190K | -79% | |||
| 51 | — | Informa PLC - COM | — | $1.7M | 0.0% | 71K | -1% | |||
| 52 | — | Sodexo - COM | — | $1.6M | 0.0% | 138K | -19% | |||
| 53 | — | iShares S&P 500 - COM | — | $1.3M | 0.0% | 1,678 | New | |||
| 54 | — | iShares S&P 600 - COM | — | $903K | 0.0% | 6,090 | New | |||
| 55 | — | Rexel - COM | — | $202K | 0.0% | 4,544 | New | |||
| 56 | — | Edenred - COM | — | $173K | 0.0% | 14K | -5% |
What changed in Q2 2026
Against the previous quarter's 13F: 5 new, 14 added to, 37 trimmed, 11 sold out. Share-count changes; largest moves by dollar size first.
New positions (5)
- Gates Industrial - COM$173.1M
first bought this quarter
$ALHAlliance Laundry Holdings Inc.$59.2M
first bought this quarter
- iShares S&P 500 - COM$1.3M
first bought this quarter
- iShares S&P 600 - COM$903K
first bought this quarter
- Rexel - COM$202K
first bought this quarter
Added to (14)
now $331.2M · held 7+ qtrs
now $202.3M · held 7+ qtrs
now $152.4M · held 3 qtrs, 3 adds in a row
now $267.7M · held 7+ qtrs, 2 adds in a row
$LPXLOUISIANA-PACIFIC CORP+38%
now $137.7M · held 5 qtrs, 3 adds in a row
$HURNHuron Consulting Group Inc.+43%
now $116.6M · held 3 qtrs, 3 adds in a row
+8 more in the Excel export
Trimmed (37)
now $371.0M · held 7+ qtrs, 5 trims in a row
$FCFSFirstCash Holdings, Inc.-79%
now $41.0M · held 7+ qtrs, 3 trims in a row
$CARRCARRIER GLOBAL Corp-46%
now $141.1M · held 7+ qtrs, 2 trims in a row
now $200.5M · held 7+ qtrs, 5 trims in a row
now $211.8M · held 7+ qtrs, 6 trims in a row
$BRK.BBERKSHIRE HATHAWAY INC-53%
now $71.7M · held 7+ qtrs, 6 trims in a row
+31 more in the Excel export
Sold out (11)
$GTESGates Industrial Corp Ltd.was $150.4M
held 6+ qtrs
$ARWARROW ELECTRONICS, INC.was $150.4M
held 6+ qtrs
$SYYSYSCO CORPwas $133.8M
held 6+ qtrs
$GOOGAlphabet Inc.was $94.2M
held 6+ qtrs
$CCEPCOCA-COLA EUROPACIFIC PARTNERS plcwas $72.7M
held 6+ qtrs
$AITAPPLIED INDUSTRIAL TECHNOLOGIES INCwas $54.6M
+5 more in the Excel export
Holdings by quarter
Every 13F FIDUCIARY MANAGEMENT INC /WI/ has filed, 41 earlier quarters. Pick one to see what it held then.
Is it too late to follow FIDUCIARY MANAGEMENT?
Q2 2026 13F filed with the SEC on Aug 13, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of FIDUCIARY MANAGEMENT's top 20 holdings: 62/100 (our AI quality score, weighted by position size; 20 of the 20 are scored)
Top 10 since filing
-8.7%
Value-weighted move of the 10 largest stock positions
Turnover
8%
Last quarter; 31% over the last 4
Top 10 weight
33%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
87%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q4 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
FIDUCIARY MANAGEMENT INC /WI/ disclosed 56 positions worth $7.0B in its Form 13F-HR for Q2 2026, led by $ARMK (Aramark) at 5.3% of the equity portfolio, followed by $BKNG and $NSIT. During the quarter the fund opened 5 new positions and exited 11 and a full exit from $GTES. The portfolio is most concentrated in Industrials (23.3% of disclosed assets). All figures are sourced directly from FIDUCIARY MANAGEMENT INC /WI/’s Form 13F-HR filing with the SEC under CIK 764532.
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