Recs.
Updated
BlackMagic Design DaVinci Resolve is an all around editing program for professionals and prosumer. It includes editing, VFX, colour-grading and a DAW (Sound-design) all in one application. Organizing media and render options are also included.
The free Version includes everything except some special features. The (one time payment) 299$ Studio version additionally includes multi-GPU support, 3D-camera tracker (VFX), some ResolveFX, collaborative work and some other small features.
Specs
Pros
Pro The colour-grading function is the best on the market
Resolves great Hollywood reputation comes from colour grading and since then it only improved.
It includes qualifier, masks, tracking of masks, (of course) color-wheels, curves, LUTs, OpenFX and so much more.
You don't need any plugins.
Pro Fast rendering and timeline performance
It beats Premiere by far in almost all disciplines. And in some even [Final Cut Pro X on a Mac] (https://youtu.be/kT1Dk9Y1CM4?t=309) . Timeline performance is also much better in Resolve than in Premiere.