FIDUCIARY MANAGEMENT INC /WI/

PrivateCIK: 764532

Location

MILWAUKEE, WI

Positions

$7.03B

Total AUM (reported)

93.48M

Total Shares

Allocation by class

COM$7.03B100.0%

Portfolio Concentration

Top 3$969.88M13.8%

4–10$1.38B19.6%

11–25$2.25B32.0%

Rest$2.43B34.6%

Top 3 weight

13.8%

Top 10 weight

33.4%

Voting Authority Distribution

Total shares with voting rights: 93.48M

Sole

Full voting authority

83.91M

% of voting shares89.8%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

9.56M

% of voting shares10.2%

Investment Discretion (by position count)

Sole56

Shared0

Other0

Dominant voting typeSole · 89.8% of voting shares

Institutional Holdings56

Rows:

Aramark

SOLE

COM

Shares6.52M

TypeSH

Market value$371.02M

5.28%

Sole

5.87M

Shared

0.00

None

654.24K

Booking Holdings Inc

SOLE

COM

Shares1.86M

TypeSH

Market value$331.20M

4.71%

Sole

1.77M

Shared

0.00

None

86.37K

Insight Enterprises

SOLE

COM

Shares2.20M

TypeSH

Market value$267.66M

3.81%

Sole

1.94M

Shared

0.00

None

260.93K

Charles Schwab Corp

SOLE

COM

Shares2.30M

TypeSH

Market value$211.83M

3.01%

Sole

2.12M

Shared

0.00

None

174.03K

Valvoline Inc.

SOLE

COM

Shares5.12M

TypeSH

Market value$202.54M

2.88%

Sole

4.52M

Shared

0.00

None

607.16K

Hayward Holdings

SOLE

COM

Shares11.68M

TypeSH

Market value$202.26M

2.88%

Sole

10.28M

Shared

0.00

None

1.40M

Ferguson Enterprises

SOLE

COM

Shares844.91K

TypeSH

Market value$200.52M

2.85%

Sole

792.36K

Shared

0.00

None

52.55K

CDW Corp

SOLE

COM

Shares1.39M

TypeSH

Market value$196.02M

2.79%

Sole

1.29M

Shared

0.00

None

106.78K

OneMain Holdings

SOLE

COM

Shares3.08M

TypeSH

Market value$187.83M

2.67%

Sole

2.71M

Shared

0.00

None

369.50K

Zions Bancorporation

SOLE

COM

Shares2.59M

TypeSH

Market value$179.29M

2.55%

Sole

2.29M

Shared

0.00

None

297.97K

AptarGroup Inc.

SOLE

COM

Shares1.42M

TypeSH

Market value$178.26M

2.54%

Sole

1.25M

Shared

0.00

None

171.41K

Gates Industrial

SOLE

COM

Shares6.19M

TypeSH

Market value$173.11M

2.46%

Sole

5.47M

Shared

0.00

None

718.15K

Carlisle Cos. Inc.

SOLE

COM

Shares447.97K

TypeSH

Market value$162.50M

2.31%

Sole

400.71K

Shared

0.00

None

47.25K

Cavco Industries

SOLE

COM

Shares250.13K

TypeSH

Market value$153.68M

2.19%

Sole

221.27K

Shared

0.00

None

28.86K

Mueller Water Prod.

SOLE

COM

Shares5.90M

TypeSH

Market value$152.45M

2.17%

Sole

5.19M

Shared

0.00

None

710.23K

Avery Dennison Corp.

SOLE

COM

Shares935.79K

TypeSH

Market value$151.93M

2.16%

Sole

863.52K

Shared

0.00

None

72.27K

Primerica Inc.

SOLE

COM

Shares534.23K

TypeSH

Market value$151.83M

2.16%

Sole

470.69K

Shared

0.00

None

63.54K

Henry Schein Inc.

SOLE

COM

Shares1.82M

TypeSH

Market value$151.79M

2.16%

Sole

1.61M

Shared

0.00

None

208.36K

Capital One Financial

SOLE

COM

Shares753.70K

TypeSH

Market value$151.21M

2.15%

Sole

696.22K

Shared

0.00

None

57.48K

FTI Consulting Inc

SOLE

COM

Shares957.95K

TypeSH

Market value$142.74M

2.03%

Sole

842.94K

Shared

0.00

None

115.02K

Carrier Global

SOLE

COM

Shares1.92M

TypeSH

Market value$141.09M

2.01%

Sole

1.78M

Shared

0.00

None

148.27K

White Mountains Ins.

SOLE

COM

Shares66.55K

TypeSH

Market value$137.98M

1.96%

Sole

58.68K

Shared

0.00

None

7.87K

Louisiana-Pacific Corp.

SOLE

COM

Shares1.75M

TypeSH

Market value$137.74M

1.96%

Sole

1.54M

Shared

0.00

None

207.96K

UnitedHealth Group

SOLE

COM

Shares325.96K

TypeSH

Market value$135.48M

1.93%

Sole

302.18K

Shared

0.00

None

23.78K

Masco Corp

SOLE

COM

Shares1.56M

TypeSH

Market value$127.17M

1.81%

Sole

1.44M

Shared

0.00

None

122.10K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
AramarkSOLE	COM	6.52M	SH	$371.02M 5.28%	5.87M	654.24K
Booking Holdings IncSOLE	COM	1.86M	SH	$331.20M 4.71%	1.77M	86.37K
Insight EnterprisesSOLE	COM	2.20M	SH	$267.66M 3.81%	1.94M	260.93K
Charles Schwab CorpSOLE	COM	2.30M	SH	$211.83M 3.01%	2.12M	174.03K
Valvoline Inc.SOLE	COM	5.12M	SH	$202.54M 2.88%	4.52M	607.16K
Hayward HoldingsSOLE	COM	11.68M	SH	$202.26M 2.88%	10.28M	1.40M
Ferguson EnterprisesSOLE	COM	844.91K	SH	$200.52M 2.85%	792.36K	52.55K
CDW CorpSOLE	COM	1.39M	SH	$196.02M 2.79%	1.29M	106.78K
OneMain HoldingsSOLE	COM	3.08M	SH	$187.83M 2.67%	2.71M	369.50K
Zions BancorporationSOLE	COM	2.59M	SH	$179.29M 2.55%	2.29M	297.97K
AptarGroup Inc.SOLE	COM	1.42M	SH	$178.26M 2.54%	1.25M	171.41K
Gates IndustrialSOLE	COM	6.19M	SH	$173.11M 2.46%	5.47M	718.15K
Carlisle Cos. Inc.SOLE	COM	447.97K	SH	$162.50M 2.31%	400.71K	47.25K
Cavco IndustriesSOLE	COM	250.13K	SH	$153.68M 2.19%	221.27K	28.86K
Mueller Water Prod.SOLE	COM	5.90M	SH	$152.45M 2.17%	5.19M	710.23K
Avery Dennison Corp.SOLE	COM	935.79K	SH	$151.93M 2.16%	863.52K	72.27K
Primerica Inc.SOLE	COM	534.23K	SH	$151.83M 2.16%	470.69K	63.54K
Henry Schein Inc.SOLE	COM	1.82M	SH	$151.79M 2.16%	1.61M	208.36K
Capital One FinancialSOLE	COM	753.70K	SH	$151.21M 2.15%	696.22K	57.48K
FTI Consulting IncSOLE	COM	957.95K	SH	$142.74M 2.03%	842.94K	115.02K
Carrier GlobalSOLE	COM	1.92M	SH	$141.09M 2.01%	1.78M	148.27K
White Mountains Ins.SOLE	COM	66.55K	SH	$137.98M 1.96%	58.68K	7.87K
Louisiana-Pacific Corp.SOLE	COM	1.75M	SH	$137.74M 1.96%	1.54M	207.96K
UnitedHealth GroupSOLE	COM	325.96K	SH	$135.48M 1.93%	302.18K	23.78K
Masco CorpSOLE	COM	1.56M	SH	$127.17M 1.81%	1.44M	122.10K

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