Ryan Specialty (RYAN): Vulcan Value Partners reports 7.9M-share, 6.11% stake

Rhea-AI Filing Summary

Ryan Specialty Holdings, Inc. reports that Vulcan Value Partners, LLC, a Delaware investment adviser, has filed an amended Schedule 13G disclosing beneficial ownership of 7,912,669 shares of Ryan Specialty common stock, representing 6.11% of the class as of June 30, 2026.

Vulcan reports sole voting power over 5,011,724 shares and sole dispositive power over all 7,912,669 shares, with no shared voting or dispositive power. The securities are held for Vulcan’s investment advisory clients, who have the right to receive dividends and sale proceeds. Vulcan states, under Rule 13d-4, that this filing should not be construed as an admission that it is the beneficial owner of these securities.

Key Figures

Shares beneficially owned: 7,912,669 shares Percent of class: 6.11% Sole voting power: 5,011,724 shares +3 more

6 metrics

Shares beneficially owned 7,912,669 shares Common stock of Ryan Specialty Holdings, Inc. reported by Vulcan Value Partners as of June 30, 2026

Percent of class 6.11% Portion of Ryan Specialty common stock class attributed to Vulcan Value Partners’ advisory clients

Sole voting power 5,011,724 shares Shares of Ryan Specialty over which Vulcan Value Partners has sole power to vote or direct the vote

Sole dispositive power 7,912,669 shares Shares of Ryan Specialty over which Vulcan Value Partners has sole power to dispose or direct disposition

CUSIP 78351F107 CUSIP number for Ryan Specialty Holdings, Inc. common stock

Filing sign date 07/30/2026 Date signed by Ashley Mann, Compliance Officer, on the amended Schedule 13G

Key Terms

beneficial owner, sole voting power, sole dispositive power, Investment Company Act of 1940, +1 more

5 terms

beneficial owner regulatory

"should not be construed as an admission that Vulcan Value Partners, LLC is the beneficial owner"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

sole voting power financial

"Sole Voting Power 5,011,742.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"Sole Dispositive Power 7,912,669.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Investment Company Act of 1940 regulatory

"the shareholders of an investment company registered under the Investment Company Act of 1940"

A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.

Schedule 13G regulatory

"the securities that are the subject of this schedule"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/07/2026 - 05:04 PM Accepted by SEC EDGAR 08/07/2026 - 05:04 PM Learn about SEC filing dates

FAQ

What percentage of Ryan Specialty (RYAN) does Vulcan Value Partners report owning?

Vulcan Value Partners reports beneficial ownership of 6.11% of Ryan Specialty’s common stock, corresponding to 7,912,669 shares held for its investment advisory clients as of June 30, 2026.

How many Ryan Specialty (RYAN) shares does Vulcan Value Partners control voting for?

Vulcan Value Partners reports sole voting power over 5,011,724 shares of Ryan Specialty common stock and no shared voting power, according to the amended Schedule 13G filing.

Who legally owns the Ryan Specialty (RYAN) shares reported by Vulcan Value Partners?

The filing states that all reported securities are legally owned by Vulcan’s investment advisory clients, not by Vulcan Value Partners itself, which disclaims beneficial ownership under Rule 13d-4.

What dispositive powers over Ryan Specialty (RYAN) shares does Vulcan Value Partners have?

Vulcan Value Partners reports sole dispositive power over 7,912,669 shares of Ryan Specialty common stock and no shared dispositive power, meaning it can direct how these shares are disposed of for its clients.

Does any single Vulcan client hold more than 5% of Ryan Specialty (RYAN)?

The filing states that no single client advised by Vulcan Value Partners owns more than 5% of the class of Ryan Specialty securities covered by this Schedule 13G, based on Vulcan’s knowledge.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

RYAN SPECIALTY HOLDINGS, INC.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

78351F107

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 78351F107

1

Names of Reporting Persons

Vulcan Value Partners, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 5,011,742.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 7,912,669.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,912,669.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.11 %

12

Type of Reporting Person (See Instructions)

IV

Comment for Type of Reporting Person: This statement is being filed by Vulcan Value Partners, LLC as a registered investment adviser. All of the securities covered by this report are owned legally by Vulcan Value Partners, LLC's investment advisory clients and none are owned directly or indirectly by Vulcan Value Partners, LLC. As permitted by Rule 13d-4, the filing of this statemt should not be construed as an admission that Vulcan Value Partners, LLC is the beneficial owner of any of the securities covered by this statement.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: RYAN SPECIALTY HOLDINGS, INC.
(b)	Address of issuer's principal executive offices: 155 North Wacker Drive, Suite 4000, Chicago, IL 60606
Item 2.
(a)	Name of person filing: Vulcan Value Partners, LLC; Mr C.T. Fitzpatrick
(b)	Address or principal business office or, if none, residence: Three Protective Center, 2801 Highway 280 South, Suite 300 Birmingham, AL 35223
(c)	Citizenship: Vulcan Value Partners, LLC - a Delaware limted litablity company; Mr. CT Fitzpatrick- a U.S. Citizen
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 78351F107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 7912669
(b)	Percent of class: 6.11 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 5011724
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 7912669
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Various persons, including the investment companies and owners of the separate accounts to which Vulcan Value Partners, LLC serves as investment adviser, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sell of, the securities that are the subject of this schedule. Except as may be otherwise indicated if this is a joint filing, not more that 5% of the class of securities that is the subject of this schedule is owned by any one client advbised by Vulcan.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Vulcan Value Partners, LLC

Signature:	Ashley Mann
Name/Title:	Ashley Mann, Compliance Officer
Date:	07/30/2026