Mason Morfit ValueAct Holdings
Mason Morfit is chief executive officer of ValueAct Capital, a major constructive-activist investment firm. ValueAct typically takes significant stakes in companies and works with boards on strategy, capital allocation, and operational improvement. Morfit’s campaigns and holdings are closely watched in both activist and fundamental investing communities.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bread Financial
BFH
|
+$118M |
| 2 |
Willis Towers Watson
WTW
|
+$83.5M |
| 3 |
CBRE Group
CBRE
|
+$44.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Adobe
ADBE
|
+$1.21B |
| 2 |
Motorola Solutions
MSI
|
+$634M |
| 3 |
AGU
Agrium
AGU
|
+$590M |
| 4 |
Halliburton
HAL
|
+$562M |
| 5 |
MSCI
MSCI
|
+$157M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 37.43% |
| 2 | Communication Services | 13.32% |
| 3 | Financials | 13.29% |
| 4 | Energy | 10.17% |
| 5 | Real Estate | 9.47% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Microsoft
MSFT
$3.59T
| $3.13B | 31.21% |
56,623,770
| – | – |
|
|
TFCF
2
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
| $1.33B | 13.32% |
47,326,334
| – | – |
|
|
BHI
3
DELISTED
Baker Hughes
BHI
| $1.02B | 10.17% |
23,246,700
| – | – |
|
|
4
CBRE Group
CBRE
$44B
| $949M | 9.47% |
32,931,905
+1,604,500
| +5% | +$44.1M |
|
|
5
Willis Towers Watson
WTW
$31.8B
| $911M | 9.1% |
7,680,015
+725,017
| +10% | +$83.5M |
|
|
6
Motorola Solutions
MSI
$79.5B
| $622M | 6.21% |
8,213,576
-9,375,000
| -53% | -$634M |
|
7
Allison Transmission
ALSN
$11B
| $516M | 5.15% |
19,125,204
| – | – |
|
8
Armstrong World Industries
AWI
$7.55B
| $445M | 4.44% |
9,200,000
| – | – |
|
9
Bausch Health
BHC
$2.41B
| $394M | 3.94% |
14,994,261
| – | – |
|
|
10
MSCI
MSCI
$41B
| $301M | 3% |
4,060,900
-2,266,411
| -36% | -$157M |
|
|
AGU
11
DELISTED
Agrium
AGU
| $280M | 2.79% |
3,170,300
-6,833,151
| -68% | -$590M |
|
|
12
Bread Financial
BFH
$4.07B
| $119M | 1.19% |
+678,017
| New | +$118M |
|
|
13
Adobe
ADBE
$109B
| $563K | 0.01% |
6,000
-14,004,739
| -100% | -$1.21B |
|
|
14
Halliburton
HAL
$29.4B
| – | – |
-16,504,295
| Closed | -$562M |
|
|
TW
15
DELISTED
TOWERS WATSON & CO COM STK CL A (DE)
TW
| – | – |
-725,000
| Closed | -$93.1M |
|
Similar funds
Mason Morfit's Q1 2016 Portfolio in Review
As of Q1 2016, Mason Morfit held 15 positions worth $10B, down 31% from $14.4B the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Mason Morfit withdrew a net $3B in Q1 2016, closing 2 positions and reducing 4 holdings. Its most notable exit was Halliburton, an estimated $562M position sold in full.
By sector, the portfolio is most concentrated in Technology at 37% of assets, down from 39% a quarter earlier, followed by Communication Services and Financials.
Against the trend, Mason Morfit opened a new position in Bread Financial worth $119M.
- Mason Morfit's largest Q1 2016 buy was Bread Financial: 678,017 shares worth $119M.
- Mason Morfit added most to Willis Towers Watson in Q1 2016, an estimated $83.5M increase.
- Mason Morfit's biggest Q1 2016 reduction was Adobe, cutting an estimated $1.21B.
- Mason Morfit fully exited Halliburton in Q1 2016, selling an estimated $562M.
- Mason Morfit's ten largest holdings make up 96% of its $10B portfolio in Q1 2016.
- Mason Morfit opened 1 new position and closed 2 in Q1 2016.
- Mason Morfit's portfolio value fell 31% quarter-over-quarter to $10B.
Based on ValueAct Holdings's 13F filing for Q1 2016, filed 16 May 2016.