Vulcan Value Partners Q2 2026 Letter | Seeking Alpha

Vulcan Value Partners’ Q2 2026 letter discusses fund performance and its long-term investment approach amid weaker stock returns. The letter states the stock is down approximately 40% year to date and 60% since the beginning of 2025, even as it describes solid compounding during the second quarter. It says the firm places “no weight” on short-term results, focusing instead on improving prospective long-term returns and lowering risk. Performance figures included for multiple composites and benchmarks show mixed outcomes across periods, including results for the Russell 1000 Value Index, S&P 500, Russell 2000 Value, and others. The letter attributes value growth to companies reporting solid topline and bottom-line results, generating strong free cash flow, and repurchasing discounted shares. It also describes reallocating capital from stocks whose prices rose faster than estimated intrinsic values into those lagging.