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 |
Baker Hughes
BKR
|
+$1.11B |
| 2 |
KKR & Co
KKR
|
+$769M |
| 3 |
Seagate
STX
|
+$260M |
| 4 |
Trinity Industries
TRN
|
+$48M |
| 5 |
Bausch Health
BHC
|
+$194K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
BHI
Baker Hughes
BHI
|
+$1.71B |
| 2 |
Willis Towers Watson
WTW
|
+$542M |
| 3 |
Microsoft
MSFT
|
+$511M |
| 4 |
BIVV
Bioverativ Inc. Common Stock
BIVV
|
+$345M |
| 5 |
CBRE Group
CBRE
|
+$202M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 35.58% |
| 2 | Technology | 13.86% |
| 3 | Communication Services | 13.78% |
| 4 | Energy | 11.53% |
| 5 | Real Estate | 10.96% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TFCF
1
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
| $1.38B | 13.78% |
53,326,334
| – | – |
|
2
Bread Financial
BFH
$4.07B
| $1.3B | 13.05% |
7,364,382
| – | – |
|
|
3
Baker Hughes
BKR
$61.9B
| $1.15B | 11.53% |
+31,407,820
| New | +$1.11B |
|
|
4
CBRE Group
CBRE
$44B
| $1.09B | 10.96% |
28,878,480
-5,500,000
| -16% | -$202M |
|
|
5
KKR & Co
KKR
$97.4B
| $926M | 9.28% |
45,555,916
+40,555,916
| +811% | +$769M |
|
6
Morgan Stanley
MS
$336B
| $862M | 8.63% |
17,884,620
| – | – |
|
|
7
Seagate
STX
$193B
| $712M | 7.13% |
21,458,600
+7,642,835
| +55% | +$260M |
|
|
8
Microsoft
MSFT
$3.59T
| $671M | 6.73% |
9,013,474
-6,999,325
| -44% | -$511M |
|
|
9
Trinity Industries
TRN
$2.37B
| $550M | 5.52% |
23,967,355
+2,323,117
| +11% | +$48M |
|
10
Armstrong World Industries
AWI
$7.55B
| $472M | 4.73% |
9,202,612
+2,612
| +0% | +$123K |
|
|
11
Willis Towers Watson
WTW
$31.8B
| $460M | 4.61% |
2,980,008
-3,629,350
| -55% | -$542M |
|
|
12
Bausch Health
BHC
$2.41B
| $258M | 2.59% |
18,010,027
+12,803
| +0.1% | +$194K |
|
|
AFI
13
DELISTED
Armstrong Flooring, Inc.
AFI
| $72.6M | 0.73% |
4,609,071
| – | – |
|
|
BIVV
14
DELISTED
Bioverativ Inc. Common Stock
BIVV
| $72.5M | 0.73% |
1,270,619
-5,893,273
| -82% | -$345M |
|
15
NETSCOUT
NTCT
$2.8B
| – | – |
-1,750,943
| Closed | -$60.2M |
|
|
BHI
16
DELISTED
Baker Hughes
BHI
| – | – |
-31,407,820
| Closed | -$1.71B |
|
Similar funds
Mason Morfit's Q3 2017 Portfolio in Review
As of Q3 2017, Mason Morfit held 16 positions worth $9.98B, down 11% from $11.2B the previous quarter. Its ten largest holdings account for 91% of the portfolio.
Mason Morfit withdrew a net $1.18B in Q3 2017, closing 2 positions and reducing 4 holdings. Its most notable exit was Baker Hughes, an estimated $1.71B position sold in full.
By sector, the portfolio is most concentrated in Financials at 36% of assets, up from 30% a quarter earlier, followed by Technology and Communication Services.
Against the trend, Mason Morfit opened a new position in Baker Hughes worth $1.15B.
- Mason Morfit's largest Q3 2017 buy was Baker Hughes: 31,407,820 shares worth $1.15B.
- Mason Morfit added most to KKR & Co in Q3 2017, an estimated $769M increase.
- Mason Morfit's biggest Q3 2017 reduction was Willis Towers Watson, cutting an estimated $542M.
- Mason Morfit fully exited Baker Hughes in Q3 2017, selling an estimated $1.71B.
- Mason Morfit's ten largest holdings make up 91% of its $9.98B portfolio in Q3 2017.
- Mason Morfit opened 1 new position and closed 2 in Q3 2017.
- Mason Morfit's portfolio value fell 11% quarter-over-quarter to $9.98B.
Based on ValueAct Holdings's 13F filing for Q3 2017, filed 14 Nov 2017.