# EDGAR Filing Document

**Accession Number:** 0001556785
**File Stem:** 0001398344-25-017150
**Filing Date:** 2025-8
**Character Count:** 50905
**Document Hash:** cc95cc526951344f47d83b5227415a72
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-25-017150.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001398344-25-017150

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**EFFECTIVENESS DATE**: 20250829

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Vulcan Value Partners, LLC
- **CENTRAL INDEX KEY:** 0001556785

**ORGANIZATION NAME:**
- **EIN:** 392051712
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-15045
- **FILM NUMBER:** 251278543

**BUSINESS ADDRESS:**
- **STREET 1:** THREE PROTECTIVE CENTER
- **STREET 2:** 2801 HIGHWAY 280 SOUTH, SUITE 300
- **CITY:** BIRMINGHAM
- **STATE:** AL
- **ZIP:** 35223
- **BUSINESS PHONE:** 205-803-1582

**MAIL ADDRESS:**
- **STREET 1:** THREE PROTECTIVE CENTER
- **STREET 2:** 2801 HIGHWAY 280 SOUTH, SUITE 300
- **CITY:** BIRMINGHAM
- **STATE:** AL
- **ZIP:** 35223

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001556785

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** Vulcan Value Partners, LLC

**Address:** Three Protective Center, BIRMINGHAM, AL 35223

**Telephone number:** 205-803-1582

**Name of agent for service:** Ashley Mann

**Agent Address:** Three Protective Center, Birmingham, AL 35223

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-15045

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** 549300MHYFHBK14BXI81

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 1

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                      | CUSIP   | MEETING DATE   | VOTE DESCRIPTION                                                                                                                                                                                                                                                                       | VOTE CATEGORY                |     SHARES VOTED |   SHARES ON LOAN | HOW VOTED   |   SHARES VOTED FOR OR AGAINST MANAGEMENT | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| ABBOTT LABORATORIES                 |  | 04/25/2025     | Say on Pay - An Advisory Vote on the Approval of Executive Compensation                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES | 311040           |                0 | FOR         |                         311040           | FOR                         |  |
| ABBOTT LABORATORIES                 |  | 04/25/2025     | Say on Pay - An Advisory Vote on the Approval of Executive Compensation                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |    445           |                0 | AGAINST     |                            445           | AGAINST                     |  |
| ABM INDUSTRIES INCORPORATED         |  | 03/26/2025     | Advisory approval of our executive compensation.                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES | 834607           |                0 | FOR         |                         834607           | FOR                         |  |
| ACUITY BRANDS, INC.                 |  | 01/22/2025     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |  19290           |                0 | FOR         |                          19290           | FOR                         |  |
| AMAZON.COM, INC.                    |  | 05/21/2025     | ADVISORY VOTE TO APPROVE EXECUTIVE COMPENSATION                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |      1.41623e+06 |                0 | FOR         |                              1.41623e+06 | FOR                         |  |
| AMAZON.COM, INC.                    |  | 05/21/2025     | ADVISORY VOTE TO APPROVE EXECUTIVE COMPENSATION                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |    458           |                0 | AGAINST     |                            458           | AGAINST                     |  |
| ARES MANAGEMENT CORPORATION         |  | 06/06/2025     | Approval, on a non-binding, advisory basis, of the compensation paid to our named executive officers for our 2024 fiscal year.                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES | 123022           |                0 | FOR         |                         123022           | FOR                         |  |
| ARES MANAGEMENT CORPORATION         |  | 06/06/2025     | Approval, on a non-binding, advisory basis, of the compensation paid to our named executive officers for our 2024 fiscal year.                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |    180           |                0 | AGAINST     |                            180           | AGAINST                     |  |
| ARES MANAGEMENT CORPORATION         |  | 06/06/2025     | To recommend, on a non-binding, advisory basis, the frequency of future advisory votes to approve, on a non-binding, advisory basis, the compensation paid to our named executive officers.                                                                                            | SECTION 14A SAY-ON-PAY VOTES | 123022           |                0 | 3 Years     |                         123022           | FOR                         |  |
| ARES MANAGEMENT CORPORATION         |  | 06/06/2025     | To recommend, on a non-binding, advisory basis, the frequency of future advisory votes to approve, on a non-binding, advisory basis, the compensation paid to our named executive officers.                                                                                            | SECTION 14A SAY-ON-PAY VOTES |    180           |                0 | 1 Year      |                            180           | AGAINST                     |  |
| BUREAU VERITAS SA                   |  | 06/19/2025     | APPROVAL OF THE INFORMATION RELATING TO THE REMUNERATION OF CORPORATE OFFICERS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024, REFERRED TO IN I OF ARTICLE L. 22-10-9 OF THE FRENCH COMMERCIAL CODE                                                                                     | COMPENSATION                 |  46238           |                0 | FOR         |                          46238           | FOR                         |  |
| BUREAU VERITAS SA                   |  | 06/19/2025     | APPROVAL OF THE REMUNERATION POLICY FOR DIRECTORS FOR THE FINANCIAL YEAR 2025                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |  46238           |                0 | FOR         |                          46238           | FOR                         |  |
| BUREAU VERITAS SA                   |  | 06/19/2025     | APPROVAL OF THE REMUNERATION POLICY FOR THE CHAIRMAN OF THE BOARD OF DIRECTORS FOR THE FINANCIAL YEAR 2025                                                                                                                                                                             | COMPENSATION                 |  46238           |                0 | FOR         |                          46238           | FOR                         |  |
| BUREAU VERITAS SA                   |  | 06/19/2025     | APPROVAL OF THE REMUNERATION POLICY FOR THE CHIEF EXECUTIVE OFFICE FOR THE FINANCIAL YEAR 2025                                                                                                                                                                                         | COMPENSATION                 |  46238           |                0 | FOR         |                          46238           | FOR                         |  |
| BUREAU VERITAS SA                   |  | 06/19/2025     | APPROVAL OF THE FIXED, VARIABLE AND EXCEPTIONAL ELEMENTS MAKING UP THE TOTAL REMUNERATION AND BENEFITS OF ANY KIND PAID DURING THE FINANCIAL YEAR 2024 OR ALLOCATED IN RESPECT OF THE SAME FINANCIAL YEAR TO MR. LAURENT MIGNON, IN HIS CAPACITY AS CHAIRMAN OF THE BOARD OF DIRECTORS | SECTION 14A SAY-ON-PAY VOTES |  46238           |                0 | FOR         |                          46238           | FOR                         |  |
| BUREAU VERITAS SA                   |  | 06/19/2025     | APPROVAL OF THE FIXED, VARIABLE AND EXCEPTIONAL ELEMENTS MAKING UP THE TOTAL REMUNERATION AND BENEFITS OF ANY KIND PAID DURING THE FINANCIAL YEAR 2024 OR ALLOCATED IN RESPECT OF THE SAME FINANCIAL YEAR TO MRS. HINDA GHARBI, IN HER CAPACITY AS CHIEF EXECUTIVE OFFICER             | SECTION 14A SAY-ON-PAY VOTES |  46238           |                0 | FOR         |                          46238           | FOR                         |  |
| CARMAX, INC.                        |  | 06/24/2025     | To approve, in an advisory (non-binding) vote, the compensation of our named executive officers.                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |      1.09536e+06 |                0 | FOR         |                              1.09536e+06 | FOR                         |  |
| CBRE GROUP, INC.                    |  | 05/21/2025     | Advisory vote to approve named executive officer compensation for 2024.                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |      1.25079e+06 |                0 | FOR         |                              1.25079e+06 | FOR                         |  |
| COLLIERS INTERNATIONAL GROUP INC.   |  | 04/01/2025     | An advisory resolution on Colliers' approach to executive compensation as set out in the accompanying Circular.                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES | 276143           |                0 | FOR         |                         276143           | FOR                         |  |
| COLLIERS INTERNATIONAL GROUP INC.   |  | 04/01/2025     | An advisory resolution on Colliers' approach to executive compensation as set out in the accompanying Circular.                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |  18477           |                0 | AGAINST     |                          18477           | AGAINST                     |  |
| COSTAR GROUP, INC.                  |  | 06/26/2025     | Proposal to approve, on an advisory basis, the Company's executive compensation.                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |      3.09025e+06 |                0 | FOR         |                              3.09025e+06 | FOR                         |  |
| COSTAR GROUP, INC.                  |  | 06/26/2025     | Proposal to approve, on an advisory basis, the Company's executive compensation.                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES | 106133           |                0 | AGAINST     |                         106133           | AGAINST                     |  |
| CROWN HOLDINGS, INC.                |  | 05/01/2025     | Approval by advisory vote of the resolution on executive compensation as described in the Proxy Statement.                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES | 696530           |                0 | FOR         |                         696530           | FOR                         |  |
| CUSHMAN  WAKEFIELD PLC              |  | 05/15/2025     | Non-binding, advisory vote on the compensation of our Named Executive Officers ("Say-on-Pay").                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |      1.51342e+06 |                0 | FOR         |                              1.51342e+06 | FOR                         |  |
| CUSHMAN  WAKEFIELD PLC              |  | 05/15/2025     | Non-binding, advisory vote on the directors' remuneration report.                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |      1.51342e+06 |                0 | FOR         |                              1.51342e+06 | FOR                         |  |
| CUSHMAN  WAKEFIELD PLC              |  | 05/15/2025     | Non-binding, advisory vote on the frequency of future Say-on-Pay votes.                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |      1.51342e+06 |                0 | 1 Year      |                              1.51342e+06 | FOR                         |  |
| DIAGEO PLC                          |  | 09/26/2024     | DIRECTORS REMUNERATION REPORT 2024                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES | 100731           |                0 | FOR         |                         100731           | FOR                         |  |
| ELEVANCE HEALTH, INC.               |  | 05/14/2025     | Advisory vote to approve the compensation of our named executive officers.                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES | 345775           |                0 | FOR         |                         345775           | FOR                         |  |
| ENERSYS                             |  | 08/01/2024     | An advisory vote to approve the compensation of EnerSys' named executive officers.                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES | 138538           |                0 | FOR         |                         138538           | FOR                         |  |
| EVEREST GROUP, LTD.                 |  | 05/14/2025     | To approve, by non-binding advisory vote, 2024 compensation paid to the Company's Named Executive Officers.                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |      1.00155e+06 |                0 | FOR         |                              1.00155e+06 | FOR                         |  |
| EVEREST GROUP, LTD.                 |  | 05/14/2025     | To approve, by non-binding advisory vote, 2024 compensation paid to the Company's Named Executive Officers.                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |  31717           |                0 | AGAINST     |                          31717           | AGAINST                     |  |
| FORTERRA PLC                        |  | 05/20/2025     | APPROVE REMUNERATION COMMITTEE REPORT                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |      1.34789e+07 |                0 | FOR         |                              1.34789e+07 | FOR                         |  |
| FORTUNE BRANDS INNOVATIONS, INC.    |  | 05/14/2025     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES | 182564           |                0 | FOR         |                         182564           | FOR                         |  |
| GENPACT LIMITED                     |  | 05/22/2025     | Approve, on a non-binding, advisory basis, the compensation of our named executive officers.                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES | 795995           |                0 | FOR         |                         795995           | FOR                         |  |
| HEICO CORPORATION                   |  | 03/14/2025     | ADVISORY APPROVAL OF THE COMPANY'S EXECUTIVE COMPENSATION.                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES | 458331           |                0 | FOR         |                         458331           | FOR                         |  |
| HEINEKEN NV                         |  | 04/17/2025     | ADVISORY VOTE ON THE 2024 REMUNERATION REPORT                                                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES | 378320           |                0 | FOR         |                         378320           | FOR                         |  |
| IBSTOCK PLC                         |  | 05/15/2025     | TO APPROVE THE DIRECTORS' REMUNERATION POLICY, WHICH IS CONTAINED IN THE DIRECTORS REMUNERATION REPORT FOR THE YEAR ENDED 31 DECEMBER 2024                                                                                                                                             | COMPENSATION                 |      2.0597e+07  |                0 | FOR         |                              2.0597e+07  | FOR                         |  |
| IBSTOCK PLC                         |  | 05/15/2025     | TO APPROVE THE DIRECTORS' REMUNERATION REPORT FOR THE YEAR ENDED 31 DECEMBER 2024                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |      2.0597e+07  |                0 | FOR         |                              2.0597e+07  | FOR                         |  |
| ISS A/S                             |  | 04/11/2025     | APPROVE REMUNERATION OF DIRECTORS; APPROVE REMUNERATION FOR COMMITTEE WORK                                                                                                                                                                                                             | COMPENSATION                 | 261142           |                0 | FOR         |                         261142           | FOR                         |  |
| ISS A/S                             |  | 04/11/2025     | APPROVE REMUNERATION REPORT (ADVISORY VOTE)                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES | 261142           |                0 | FOR         |                         261142           | FOR                         |  |
| JONES LANG LASALLE INCORPORATED     |  | 05/21/2025     | Approval, on an advisory basis, of JLL's Executive Compensation ("Say On Pay")                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES | 481836           |                0 | FOR         |                         481836           | FOR                         |  |
| JONES LANG LASALLE INCORPORATED     |  | 05/21/2025     | Approval, on an advisory basis, of JLL's Executive Compensation ("Say On Pay")                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |    530           |                0 | AGAINST     |                            530           | AGAINST                     |  |
| LITTELFUSE, INC.                    |  | 04/24/2025     | Approve, on an advisory basis, the compensation of the Company's named executive officers.                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES | 189097           |                0 | FOR         |                         189097           | FOR                         |  |
| LITTELFUSE, INC.                    |  | 04/24/2025     | Approve, on an advisory basis, the compensation of the Company's named executive officers.                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |   7759           |                0 | AGAINST     |                           7759           | AGAINST                     |  |
| LVMH MOET HENNESSY LOUIS VUITTON SE |  | 04/17/2025     | APPROVAL OF THE INFORMATION RELATING TO THE COMPENSATION OF CORPORATE OFFICERS, AS REFERRED TO IN SECTION I OF ARTICLE L.22-10-9 OF THE FRENCH COMMERCIAL CODE                                                                                                                         | COMPENSATION                 |   2255           |                0 | FOR         |                           2255           | FOR                         |  |
| LVMH MOET HENNESSY LOUIS VUITTON SE |  | 04/17/2025     | APPROVAL OF THE COMPENSATION POLICY FOR DIRECTORS                                                                                                                                                                                                                                      | COMPENSATION                 |   2255           |                0 | FOR         |                           2255           | FOR                         |  |
| LVMH MOET HENNESSY LOUIS VUITTON SE |  | 04/17/2025     | APPROVAL OF THE COMPENSATION POLICY FOR THE CHAIRMAN AND CHIEF EXECUTIVE OFFICER                                                                                                                                                                                                       | COMPENSATION                 |   2255           |                0 | FOR         |                           2255           | FOR                         |  |
| LVMH MOET HENNESSY LOUIS VUITTON SE |  | 04/17/2025     | APPROVAL OF THE COMPENSATION ELEMENTS PAID DURING THE FINANCIAL YEAR 2024 OR ALLOCATED FOR THE SAME FINANCIAL YEAR TO MR. BERNARD ARNAULT, CHAIRMAN AND CHIEF EXECUTIVE OFFICER                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |   2255           |                0 | FOR         |                           2255           | FOR                         |  |
| LVMH MOET HENNESSY LOUIS VUITTON SE |  | 04/17/2025     | APPROVAL OF THE COMPENSATION ELEMENTS PAID DURING THE FINANCIAL YEAR 2024 OR ALLOCATED FOR THE SAME FINANCIAL YEAR TO MR. ANTONIO BELLONI, DEPUTY CHIEF EXECUTIVE OFFICER UNTIL 18 APRIL 2024                                                                                          | SECTION 14A SAY-ON-PAY VOTES |   2255           |                0 | FOR         |                           2255           | FOR                         |  |
| MASTERCARD INCORPORATED             |  | 06/24/2025     | Advisory approval of Mastercard's executive compensation                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES | 461598           |                0 | FOR         |                         461598           | FOR                         |  |
| MEDPACE HOLDINGS, INC.              |  | 05/16/2025     | To approve, on an advisory basis, the compensation of our named executive officers as disclosed in the proxy statement for the 2025 Annual Meeting.                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES | 302063           |                0 | FOR         |                         302063           | FOR                         |  |
| MEDPACE HOLDINGS, INC.              |  | 05/16/2025     | To approve, on an advisory basis, the compensation of our named executive officers as disclosed in the proxy statement for the 2025 Annual Meeting.                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |    295           |                0 | AGAINST     |                            295           | AGAINST                     |  |
| MICROSOFT CORPORATION               |  | 12/10/2024     | Advisory Vote to Approve Named Executive Officer Compensation ("say-on-pay vote").                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES | 712943           |                0 | FOR         |                         712943           | FOR                         |  |
| MILLERKNOLL, INC.                   |  | 10/14/2024     | Proposal to approve, on an advisory basis, the Company's Named Executive Officer compensation.                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |      1.0707e+06  |                0 | FOR         |                              1.0707e+06  | FOR                         |  |
| MILLERKNOLL, INC.                   |  | 10/14/2024     | Proposal to approve, on an advisory basis, the Company's Named Executive Officer compensation.                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |  92787           |                0 | AGAINST     |                          92787           | AGAINST                     |  |
| NICE LTD.                           |  | 07/03/2024     | To approve an Update of the Executive Equity Award Caps and Performance Mix.                                                                                                                                                                                                           | COMPENSATION                 | 702474           |                0 | FOR         |                         702474           | FOR                         |  |
| NICE LTD.                           |  | 07/03/2024     | To approve the CEO Equity Award.                                                                                                                                                                                                                                                       | COMPENSATION                 | 702474           |                0 | FOR         |                         702474           | FOR                         |  |
| PARK HOTELS  RESORTS INC            |  | 04/25/2025     | To approve, on an advisory (non-binding) basis, the compensation of our named executive officers.                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |      1.05617e+06 |                0 | FOR         |                              1.05617e+06 | FOR                         |  |
| PARTNERS GROUP HOLDING AG           |  | 05/21/2025     | APPROVE FIXED REMUNERATION OF DIRECTORS IN THE AMOUNT OF CHF 3.5 MILLION                                                                                                                                                                                                               | COMPENSATION                 |  22349           |                0 | FOR         |                          22349           | FOR                         |  |
| PARTNERS GROUP HOLDING AG           |  | 05/21/2025     | APPROVE VARIABLE LONG-TERM REMUNERATION OF DIRECTORS IN THE AMOUNT OF CHF 10.9 MILLION                                                                                                                                                                                                 | COMPENSATION                 |  22349           |                0 | FOR         |                          22349           | FOR                         |  |
| PARTNERS GROUP HOLDING AG           |  | 05/21/2025     | APPROVE TECHNICAL NON-FINANCIAL REMUNERATION OF DIRECTORS IN THE AMOUNT OF CHF 16.7 MILLION                                                                                                                                                                                            | COMPENSATION                 |  22349           |                0 | FOR         |                          22349           | FOR                         |  |
| PARTNERS GROUP HOLDING AG           |  | 05/21/2025     | APPROVE REMUNERATION BUDGET OF EXECUTIVE COMMITTEE IN THE AMOUNT OF CHF 13.5 MILLION                                                                                                                                                                                                   | COMPENSATION                 |  22349           |                0 | FOR         |                          22349           | FOR                         |  |
| PARTNERS GROUP HOLDING AG           |  | 05/21/2025     | APPROVE VARIABLE LONG-TERM REMUNERATION OF EXECUTIVE COMMITTEE IN THE AMOUNT OF CHF 63.4 MILLION                                                                                                                                                                                       | COMPENSATION                 |  22349           |                0 | FOR         |                          22349           | FOR                         |  |
| PARTNERS GROUP HOLDING AG           |  | 05/21/2025     | APPROVE TECHNICAL NON-FINANCIAL REMUNERATION OF EXECUTIVE COMMITTEE IN THE AMOUNT OF CHF 120,000                                                                                                                                                                                       | COMPENSATION                 |  22349           |                0 | FOR         |                          22349           | FOR                         |  |
| PARTNERS GROUP HOLDING AG           |  | 05/21/2025     | APPROVE REMUNERATION REPORT                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |  22349           |                0 | FOR         |                          22349           | FOR                         |  |
| PREMIUM BRANDS HOLDINGS CORPORATION |  | 05/06/2025     | The Shareholder proposals received from Shareholders set forth in Appendix "D" of the Information Circular.                                                                                                                                                                            | COMPENSATION                 | 462764           |                0 | AGAINST     |                         462764           | FOR                         |  |
| PREMIUM BRANDS HOLDINGS CORPORATION |  | 05/06/2025     | The Corporation's approach to executive compensation described in the accompanying Information Circular. **NOTE**: This is an advisory vote only.                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES | 462764           |                0 | FOR         |                         462764           | FOR                         |  |
| PREMIUM BRANDS HOLDINGS CORPORATION |  | 05/06/2025     | The Corporation's approach to executive compensation described in the accompanying Information Circular. **NOTE**: This is an advisory vote only.                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES | 462764           |                0 | FOR         |                         462764           | FOR                         |  |
| PROG HOLDINGS, INC.                 |  | 05/07/2025     | Approval of a non-binding advisory resolution to approve the Company's executive compensation.                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES | 613869           |                0 | FOR         |                         613869           | FOR                         |  |
| QORVO, INC.                         |  | 08/13/2024     | To approve, on an advisory basis, the compensation of our Named Executive Officers (as disclosed in the proxy statement).                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |      1.98285e+06 |                0 | FOR         |                              1.98285e+06 | FOR                         |  |
| RENTOKIL INITIAL PLC                |  | 05/07/2025     | TO APPROVE THE DIRECTORS REMUNERATION REPORT                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES | 272508           |                0 | FOR         |                         272508           | FOR                         |  |
| SALESFORCE, INC.                    |  | 06/05/2025     | Approval, on an advisory basis, of the fiscal 2025 compensation of our named executive officers.                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES | 686076           |                0 | FOR         |                         686076           | FOR                         |  |
| SALESFORCE, INC.                    |  | 06/05/2025     | Approval, on an advisory basis, of the fiscal 2025 compensation of our named executive officers.                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |  21940           |                0 | AGAINST     |                          21940           | AGAINST                     |  |
| SAVILLS PLC                         |  | 05/14/2025     | THAT THE DIRECTORS REMUNERATIONPOLICY CONTAINED WITHIN THEDIRECTORS REMUNERATION REPORTSET OUT IN THE 2024 THE ANNUALREPORT AND ACCOUNTS BE APPROVED                                                                                                                                   | COMPENSATION                 |      2.62451e+06 |                0 | FOR         |                              2.62451e+06 | FOR                         |  |
| SAVILLS PLC                         |  | 05/14/2025     | TO APPROVE THE DIRECTORSREMUNERATION REPORT CONTAINED INTHE 2024 ANNUAL REPORT AND ACCOUNTS                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |      2.62451e+06 |                0 | FOR         |                              2.62451e+06 | FOR                         |  |
| SDIPTECH AB                         |  | 05/19/2025     | APPROVE REMUNERATION OF DIRECTORS IN THE AMOUNT OF SEK 910,000 FOR CHAIR AND SEK 320,000 FOR OTHER DIRECTORS; APPROVE REMUNERATION FOR COMMITTEE WORK; APPROVE REMUNERATION OF AUDITORS                                                                                                | COMPENSATION                 | 257139           |                0 | FOR         |                         257139           | FOR                         |  |
| SDIPTECH AB                         |  | 05/19/2025     | APPROVE REMUNERATION REPORT                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES | 257139           |                0 | FOR         |                         257139           | FOR                         |  |
| SEALED AIR CORPORATION              |  | 05/29/2025     | Approval, as an advisory vote, of Sealed Air's 2024 executive compensation.                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES | 668497           |                0 | FOR         |                         668497           | FOR                         |  |
| SKYWORKS SOLUTIONS, INC.            |  | 05/14/2025     | To approve, on an advisory basis, the compensation of the Company's named executive officers, as described in the Company's Proxy Statement.                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |      1.60076e+06 |                0 | FOR         |                              1.60076e+06 | FOR                         |  |
| SODEXO                              |  | 12/17/2024     | APPROVAL OF THE COMPENSATION POLICY APPLICABLE TO THE CHIEF EXECUTIVE OFFICER                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |  38446           |                0 | FOR         |                          38446           | FOR                         |  |
| SODEXO                              |  | 12/17/2024     | APPROVAL OF THE COMPONENTS OF COMPENSATION PAID DURING OR AWARDED FOR FISCAL 2024 TO SOPHIE BELLON, CHAIRWOMAN AND CEO                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |  38446           |                0 | FOR         |                          38446           | FOR                         |  |
| SODEXO                              |  | 12/17/2024     | APPROVAL OF THE INFORMATION RELATED TO THE COMPENSATION OF CORPORATE OFFICERS AND DIRECTORS, AS REFERRED TO IN ARTICLE L.22-10-9 I OF THE FRENCH COMMERCIAL CODE                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |  38446           |                0 | FOR         |                          38446           | FOR                         |  |
| SODEXO                              |  | 12/17/2024     | APPROVAL OF THE COMPENSATION POLICY APPLICABLE TO THE DIRECTORS                                                                                                                                                                                                                        | COMPENSATION                 |  38446           |                0 | FOR         |                          38446           | FOR                         |  |
| SS TECHNOLOGIES HOLDINGS, INC.      |  | 05/21/2025     | To approve, on an advisory basis, the compensation of SS's named executive officers.                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES | 541244           |                0 | FOR         |                         541244           | FOR                         |  |
| SS TECHNOLOGIES HOLDINGS, INC.      |  | 05/21/2025     | To approve, on an advisory basis, the compensation of SS's named executive officers.                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |    790           |                0 | AGAINST     |                            790           | AGAINST                     |  |
| THE CARLYLE GROUP INC.              |  | 05/29/2025     | Non-Binding Vote to Approve Named Executive Officer Compensation ("Say-on-Pay").                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |      3.65989e+06 |                0 | FOR         |                              3.65989e+06 | FOR                         |  |
| THE CARLYLE GROUP INC.              |  | 05/29/2025     | Non-Binding Vote to Approve Named Executive Officer Compensation ("Say-on-Pay").                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES | 126019           |                0 | AGAINST     |                         126019           | AGAINST                     |  |
| THE MIDDLEBY CORPORATION            |  | 05/14/2025     | Approval, on an advisory basis, of the compensation of our named executive officers.                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |  32238           |                0 | FOR         |                          32238           | FOR                         |  |
| THE TIMKEN COMPANY                  |  | 05/02/2025     | Approval, on an advisory basis, of our named executive officer compensation.                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES | 183893           |                0 | FOR         |                         183893           | FOR                         |  |
| THE TIMKEN COMPANY                  |  | 05/02/2025     | Approval, on an advisory basis, of our named executive officer compensation.                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |  20832           |                0 | AGAINST     |                          20832           | AGAINST                     |  |
| TRANSDIGM GROUP INCORPORATED        |  | 03/06/2025     | Approval, on an advisory basis, of the compensation of our named executive officers.                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES | 188882           |                0 | FOR         |                         188882           | FOR                         |  |
| TRANSDIGM GROUP INCORPORATED        |  | 03/06/2025     | Approval, on an advisory basis, of the compensation of our named executive officers.                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |   5147           |                0 | AGAINST     |                           5147           | AGAINST                     |  |
| UNITEDHEALTH GROUP INCORPORATED     |  | 06/02/2025     | Advisory approval of the Company's executive compensation.                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES | 135932           |                0 | FOR         |                         135932           | FOR                         |  |
| VIRTUS INVESTMENT PARTNERS, INC.    |  | 05/14/2025     | To approve, in a non-binding vote, named executive officer compensation.                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |  91215           |                0 | AGAINST     |                          91215           | AGAINST                     |  |
| VISA INC.                           |  | 01/28/2025     | To approve, on an advisory basis, the compensation paid to our named executive officers.                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES | 827995           |                0 | FOR         |                         827995           | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** Vulcan Value Partners, LLC

**By (Signature):** Ashley Mann

**By (Printed Signature):** Ashley Mann

**By (Title):** Chief Compliance Officer

**Date:** 08/28/2025