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 |
Morgan Stanley
MS
|
+$994M |
| 2 |
BHI
Baker Hughes
BHI
|
+$708M |
| 3 |
Bread Financial
BFH
|
+$573M |
| 4 |
Trinity Industries
TRN
|
+$110M |
| 5 |
AFI
Armstrong Flooring, Inc.
AFI
|
+$74M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Motorola Solutions
MSI
|
+$622M |
| 2 |
AGU
Agrium
AGU
|
+$280M |
| 3 |
MSCI
MSCI
|
+$209M |
| 4 |
Adobe
ADBE
|
+$563K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.96% |
| 2 | Financials | 24.86% |
| 3 | Energy | 15.93% |
| 4 | Communication Services | 11.7% |
| 5 | Real Estate | 7.92% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Microsoft
MSFT
$3.59T
| $2.9B | 26.3% |
56,624,678
+908
| +0% | +$47.2K |
|
|
BHI
2
DELISTED
Baker Hughes
BHI
| $1.75B | 15.93% |
38,886,200
+15,639,500
| +67% | +$708M |
|
|
TFCF
3
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
| $1.29B | 11.7% |
47,326,334
| – | – |
|
4
Willis Towers Watson
WTW
$31.8B
| $1.01B | 9.15% |
8,108,015
+428,000
| +6% | +$52.8M |
|
|
5
Morgan Stanley
MS
$336B
| $987M | 8.96% |
+38,000,000
| New | +$994M |
|
6
CBRE Group
CBRE
$44B
| $872M | 7.92% |
32,935,794
+3,889
| +0% | +$114K |
|
|
7
Bread Financial
BFH
$4.07B
| $644M | 5.85% |
4,119,751
+3,441,734
| +508% | +$573M |
|
8
Allison Transmission
ALSN
$11B
| $540M | 4.9% |
19,125,204
| – | – |
|
9
Armstrong World Industries
AWI
$7.55B
| $360M | 3.27% |
9,200,000
| – | – |
|
10
Bausch Health
BHC
$2.41B
| $302M | 2.74% |
14,994,261
| – | – |
|
|
11
Trinity Industries
TRN
$2.37B
| $111M | 1.01% |
+8,334,000
| New | +$110M |
|
|
12
MSCI
MSCI
$41B
| $100M | 0.91% |
1,300,900
-2,760,000
| -68% | -$209M |
|
|
AFI
13
DELISTED
Armstrong Flooring, Inc.
AFI
| $78M | 0.71% |
+4,600,000
| New | +$74M |
|
14
Seagate
STX
$193B
| $73.1M | 0.66% |
+3,000,000
| New | +$72.7M |
|
|
15
Adobe
ADBE
$109B
| – | – |
-6,000
| Closed | -$563K |
|
|
16
Motorola Solutions
MSI
$79.5B
| – | – |
-8,213,576
| Closed | -$622M |
|
|
AGU
17
DELISTED
Agrium
AGU
| – | – |
-3,170,300
| Closed | -$280M |
|
Similar funds
Mason Morfit's Q2 2016 Portfolio in Review
As of Q2 2016, Mason Morfit held 17 positions worth $11B, up 10% from $10B the previous quarter. Its ten largest holdings account for 97% of the portfolio.
Mason Morfit deployed $1.47B of net new capital in Q2 2016, opening 4 new positions and adding to 5 existing holdings. Its largest new stake was Morgan Stanley: 38,000,000 shares worth $987M.
By sector, the portfolio is most concentrated in Technology at 27% of assets, down from 37% a quarter earlier, followed by Financials and Energy.
On the sell side, the largest reduction was MSCI, an estimated $209M trimmed.
- Mason Morfit's largest Q2 2016 buy was Morgan Stanley: 38,000,000 shares worth $987M.
- Mason Morfit added most to Baker Hughes in Q2 2016, an estimated $708M increase.
- Mason Morfit's biggest Q2 2016 reduction was MSCI, cutting an estimated $209M.
- Mason Morfit fully exited Motorola Solutions in Q2 2016, selling an estimated $622M.
- Mason Morfit's ten largest holdings make up 97% of its $11B portfolio in Q2 2016.
- Mason Morfit opened 4 new positions and closed 3 in Q2 2016.
- Mason Morfit's portfolio value rose 10% quarter-over-quarter to $11B.
Based on ValueAct Holdings's 13F filing for Q2 2016, filed 15 Aug 2016.