David Shelton

David Shelton is a Principal and Portfolio Manager at Vulcan Value Partners, based in Birmingham, Alabama. Since joining the firm in 2020 and rising to Portfolio Manager in 2024, he is responsible for equity research and portfolio management across Vulcan’s value-driven investment strategies, with a focus on U.S. and global public equities. He is an integral part of the team managing both concentrated and diversified portfolios, applying Vulcan’s long-term, margin-of-safety approach to stock selection.

Prior to Vulcan, David was Vice President in the Debt Capital Markets group at Stephens Inc., where he executed debt placements across a broad range of sectors. At Vulcan, he participates in investment decision-making for strategies such as All Cap, which covers companies across all market capitalizations and sectors, allowing flexibility to invest based on business quality rather than industry mandate.

David holds an MBA from The University of Chicago Booth School of Business and a BA in Economics from The University of the South. His combination of equity and debt experience, supported by rigorous academic credentials, has contributed to Vulcan's research-intensive, high-conviction value investing ethos.