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
|
+$365M |
| 2 |
Seagate
STX
|
+$212M |
| 3 |
Trinity Industries
TRN
|
+$147M |
| 4 |
Morgan Stanley
MS
|
+$116M |
| 5 |
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
|
+$78.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$1.02B |
| 2 |
BHI
Baker Hughes
BHI
|
+$433M |
| 3 |
MSCI
MSCI
|
+$100M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 30.39% |
| 2 | Technology | 22.56% |
| 3 | Energy | 13.13% |
| 4 | Communication Services | 10.84% |
| 5 | Real Estate | 8.43% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Microsoft
MSFT
$3.59T
| $2.22B | 19.36% |
38,624,678
-18,000,000
| -32% | -$1.02B |
|
|
BHI
2
DELISTED
Baker Hughes
BHI
| $1.51B | 13.13% |
29,886,200
-9,000,000
| -23% | -$433M |
|
|
3
Morgan Stanley
MS
$336B
| $1.34B | 11.69% |
41,900,000
+3,900,000
| +10% | +$116M |
|
|
TFCF
4
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
| $1.25B | 10.84% |
50,326,334
+3,000,000
| +6% | +$78.2M |
|
5
Willis Towers Watson
WTW
$31.8B
| $1.08B | 9.37% |
8,108,015
| – | – |
|
|
6
Bread Financial
BFH
$4.07B
| $1.07B | 9.33% |
6,265,000
+2,145,249
| +52% | +$365M |
|
7
CBRE Group
CBRE
$44B
| $969M | 8.43% |
34,620,054
+1,684,260
| +5% | +$48.1M |
|
8
Allison Transmission
ALSN
$11B
| $549M | 4.77% |
19,125,204
| – | – |
|
9
Armstrong World Industries
AWI
$7.55B
| $380M | 3.31% |
9,200,000
| – | – |
|
10
Bausch Health
BHC
$2.41B
| $368M | 3.2% |
14,994,261
| – | – |
|
|
11
Seagate
STX
$193B
| $368M | 3.2% |
9,539,490
+6,539,490
| +218% | +$212M |
|
|
12
Trinity Industries
TRN
$2.37B
| $300M | 2.61% |
17,252,769
+8,918,769
| +107% | +$147M |
|
|
AFI
13
DELISTED
Armstrong Flooring, Inc.
AFI
| $86.8M | 0.76% |
4,600,000
| – | – |
|
|
14
MSCI
MSCI
$41B
| – | – |
-1,300,900
| Closed | -$100M |
|
Similar funds
Mason Morfit's Q3 2016 Portfolio in Review
As of Q3 2016, Mason Morfit held 14 positions worth $11.5B, up 4.3% from $11B the previous quarter. Its ten largest holdings account for 93% of the portfolio.
Mason Morfit withdrew a net $583M in Q3 2016, closing 1 position and reducing 2 holdings. Its most notable exit was MSCI, an estimated $100M position sold in full.
By sector, the portfolio is most concentrated in Financials at 30% of assets, up from 25% a quarter earlier, followed by Technology and Energy.
Against the trend, Mason Morfit added an estimated $365M to Bread Financial.
- Mason Morfit added most to Bread Financial in Q3 2016, an estimated $365M increase.
- Mason Morfit's biggest Q3 2016 reduction was Microsoft, cutting an estimated $1.02B.
- Mason Morfit fully exited MSCI in Q3 2016, selling an estimated $100M.
- Mason Morfit's ten largest holdings make up 93% of its $11.5B portfolio in Q3 2016.
- Mason Morfit opened 0 new positions and closed 1 in Q3 2016.
- Mason Morfit's portfolio value rose 4.3% quarter-over-quarter to $11.5B.
Based on ValueAct Holdings's 13F filing for Q3 2016, filed 15 Nov 2016.