FBHS

FBHS

FBHS

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2024 Q1	May 7, 2024	Longleaf Partners Fund	10.4%	10.3%	AMG, BIO, CHTR, CNHI, CNX, FBHS, FDX, FFH, FIS, H, IAC, K, LBRDA, LYV, MAT, RTX, WBD, WMG	Buybacks, free cash flow, Logistics, Media, Natural Gas, technology, value	Multiple portfolio companies are executing substantial share repurchase programs. FIS is repurchasing 10% of the company, CNX continues share repurchase at a double-digit annualized pace, and FedEx maintains a 6% annualized repurchase pace with another $5 billion program authorized.	WBD LBRDA FDX CNX FIS	View
2026 Q1	May 6, 2026	FPA Source Capital	-0.3%	-0.3%	ADI, AON, BDX, CHTR, CMCSA, FBHS, GLEN.L, GOOGL, KMI, KMX, TEL	Balanced, healthcare, international, private credit, SMID Cap, value			View
2026 Q1	Apr 12, 2026	FMI All Cap Equity	-	-	BKNG, CARR, FBHS, FERG, FLR.MC, HAYW, HURN, HWDN.L, IMCD.AS, LPX, MAS	AI, Cyclical, defense, energy, Geopolitical, Housing, Quality, value		IMCD.AS BKNG HURN	View
2026 Q1	Apr 12, 2026	FMI International Equity	-	-	BKNG, CARR, FBHS, FERG, FLU.MC, HAYW, HURN, HWDN.L, LPX, MAS	AI, Consulting, defense, energy, Geopolitical, Housing, Quality, value		IMCD.AS BKNG HURN	View
2026 Q1	Apr 12, 2026	FMI Large Cap Equity	-	-	BKNG, CARR, FBHS, FERG, FLR.MC, HAYW, HURN, HWDN.L, IMCD.AS, LPX, MAS	AI, Building Materials, defense, energy, Geopolitical, Quality, Travel, value		IMCD.AS BKNG HURN	View
2026 Q1	Apr 12, 2026	FMI Small Cap Equity	-	-	BKNG, CARR, FBHS, FERG, FLR.PA, HAYW, HURN, HWDN.L, IMCD.AS, LPX, MAS	AI, contrarian, defense, energy, Geopolitical, Housing, Quality, value			View
2024 Q4	Dec 31, 2024	Vulcan Value Partners – Small Cap	-7.3%	1.3%	AMZN, CCK, CG, CRM, EG, ELV, FBHS, GOOGL, HEIA.AS, LYV, MEDP, MIDD, PBH.TO, PGHN.SW, QRVO, RI.PA, RTO.L, SDIP.ST, SW.PA, UNH	Building Products, discount, Europe, Foodservice, Margin Of Safety, small caps, value	Small Cap is the most discounted portfolio in terms of price compared to intrinsic value estimates, providing the highest margin of safety. The manager believes the market is overly focused on short-term results and not properly recognizing long-term prospects of quality companies trading at discounts.		View
2024 Q4	Dec 31, 2024	Vulcan Value Partners – Large Cap	-0.1%	17.5%	AMZN, CCK, CG, CRM, ELV, FBHS, GOOGL, HEIA.PA, MEDP, MIDD, PBH.TO, PGHN.SW, QRVO, RE, RI.PA, RTO.L, SDIP.ST, SW.PA, UNH	Alternative Asset Managers, global, healthcare, large cap, Margin Of Safety, technology, value	Manager emphasizes buying companies with stable values at attractive margins of safety. Price to value ratios remained relatively flat across strategies despite double-digit returns. Focus on allocating capital to companies with larger margins of safety as U.S. markets outperformed.		View
2024 Q4	Dec 31, 2024	Vulcan Value Partners – Small Cap	-2.5%	13.6%	AMZN, CCK, CG, CRM, ELV, FBHS, GOOGL, HEIA.AS, KKR, LYV, MEDP, MIDD, PBH.TO, PGHN.SW, QRVO, RE, RI.PA, RTO.L, SW.ST, UNH	Alternative Asset Managers, Concentration, healthcare, insurance, international, value	Manager emphasizes buying companies with stable values at attractive margins of safety. Portfolio price-to-value ratios remained relatively flat despite double-digit returns as capital was reallocated from companies whose prices rose faster than values into more discounted opportunities.		View
2024 Q4	Dec 31, 2024	Vulcan Value Partners – Focus Plus	6.3%	26.1%	AMZN, CCK, CG, CRM, ELV, FBHS, GOOGL, HEIA.AS, KKR, LYV, MEDP, MIDD, PBH.TO, PGHN.SW, QRVO, RE, RI.PA, RTO.L, SDIP.ST, SW.PA, UNH	concentrated, Intrinsic Value, large cap, long-term, Margin Of Safety, value	Everest Group is a global reinsurance and insurance business known for disciplined underwriting. The company underwrites aggressively in hard markets and builds capacity during soft markets, focusing on growing intrinsic value per share over long-term rather than managing short-term earnings.		View
2024 Q4	Dec 31, 2024	Vulcan Value Partners – Focus Plus	7.4%	27.5%	AMZN, CCK, CG, CRM, ELV, FBHS, GOOGL, HEIA.AS, KKR, LYV, MIDD, PBH.TO, PGHN.SW, QRVO, RE, RI.PA, RTO.L, SDIP.ST, SW.PA, UNH	Alternative Asset Managers, Cloud, Concentration, Discipline, insurance, large cap, value	Vulcan follows a disciplined value approach, reallocating capital from companies whose prices rose faster than values into companies whose prices did not keep up with values. They maintain attractive price to value ratios despite double-digit returns and focus on companies with stable values and margins of safety.		View
2023 Q3	Dec 10, 2023	Longleaf Partners Global Fund	14.8%	18.4%	0001.HK, CFR.SW, CNX, DHER.DE, FBHS, FDX, FIS, GE, GLB, HAS, IAC, MAT, MGM, PRX.AS, WBD, WMG	Concentration, discount, global, Quality, value	The fund emphasizes trading at 12.5x P/E on not yet optimized earnings versus mega-cap stocks at 29x P/E. Portfolio has price-to-value ratio in low-60s% offering meaningful upside potential. Fund owns high-quality businesses at discounted valuations.	NWBD.L DHER.DE IAC AMAT CNX	View
2023 Q2	Jul 19, 2023	Longleaf Partners Fund	10.4%	10.3%	AMG, CNH, CNX, FBHS, FDX, FFH, FI, FIS, GE, H, HAS, IAC, K, LBRDK, LYV, MAT, MGM, PVH, WBD, WMG	concentrated, consumer discretionary, Media, Mega Cap, technology, value	Fund maintains concentrated portfolio of 18-22 best ideas trading at discount to intrinsic value. Portfolio ended quarter with compelling P/V ratio in mid-60s%, indicating significant future upside potential. Fund seeks businesses run by capable management teams whose stock prices are trading temporarily at discount.	NWBD.L IAC LLYVA	View
2023 Q4	Jan 17, 2024	Longleaf Partners Fund	10.4%	10.3%	AMG, BIO, CNHI, CNX, FBHS, FDX, FFH, FIS, GE, H, IAC, K, LBRDK, LUMN, LYV, MAT, MGM, PVH, RTX, WBD	Buybacks, financials, Logistics, Quality, Travel, value	Fund focuses on Business, People, Price discipline, seeking hidden quality companies trading at discounts. Portfolio differs meaningfully from value indices, with ~50% not found in benchmark indices. Manager believes their differentiated approach positions them well versus Quality at Higher Price strategies and Value ETFs.	^HSI MGM FFH FDX PVH NWBD.L	View
2023 Q4	Jan 17, 2024	Longleaf Partners Global Fund	14.8%	18.4%	AMG, BIO, CNX, DHER.DE, ERF.PA, EXOR.MI, FBHS, FDX, FFH.TO, FIS, GE, K, LUMN, LYV, MAT, MGM, MLCO, PVH, TIGO, WBD	Banking, Buybacks, global, portfolio, Quality, returns, value	Manager emphasizes their differentiated approach to value investing, focusing on Business, People, Price rather than traditional value ETF strategies or quality at higher prices. They believe value is positioned for outperformance in the 2020s similar to previous decades when interest rates normalized.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
No pitches found.

BSD Shareholders of FBHS

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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