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 |
Citigroup
C
|
+$81.3M |
| 2 |
ESRX
Express Scripts Holding Company
ESRX
|
+$76.7M |
| 3 |
Trinity Industries
TRN
|
+$46.9M |
| 4 |
KKR & Co
KKR
|
+$44.1M |
| 5 |
Morgan Stanley
MS
|
+$3.79M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Baker Hughes
BKR
|
+$1.15B |
| 2 |
Willis Towers Watson
WTW
|
+$460M |
| 3 |
CBRE Group
CBRE
|
+$164M |
| 4 |
BIVV
Bioverativ Inc. Common Stock
BIVV
|
+$72.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 35.61% |
| 2 | Communication Services | 18.41% |
| 3 | Technology | 16.89% |
| 4 | Industrials | 12.69% |
| 5 | Real Estate | 10.92% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TFCF
1
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
| $1.82B | 18.41% |
53,326,334
| – | – |
|
2
Bread Financial
BFH
$4.07B
| $1.49B | 15.07% |
7,364,382
| – | – |
|
|
3
CBRE Group
CBRE
$44B
| $1.08B | 10.92% |
24,916,923
-3,961,557
| -14% | -$164M |
|
|
4
KKR & Co
KKR
$97.4B
| $1.01B | 10.18% |
47,750,000
+2,194,084
| +5% | +$44.1M |
|
|
5
Morgan Stanley
MS
$336B
| $942M | 9.53% |
17,959,620
+75,000
| +0.4% | +$3.79M |
|
6
Seagate
STX
$193B
| $898M | 9.08% |
21,458,600
| – | – |
|
7
Microsoft
MSFT
$3.59T
| $771M | 7.8% |
9,014,063
+589
| +0% | +$48.3K |
|
|
8
Trinity Industries
TRN
$2.37B
| $697M | 7.05% |
25,845,612
+1,878,257
| +8% | +$46.9M |
|
9
Armstrong World Industries
AWI
$7.55B
| $557M | 5.64% |
9,202,612
| – | – |
|
10
Bausch Health
BHC
$2.41B
| $374M | 3.79% |
18,010,027
| – | – |
|
|
ESRX
11
DELISTED
Express Scripts Holding Company
ESRX
| $89.6M | 0.91% |
+1,200,000
| New | +$76.7M |
|
|
12
Citigroup
C
$221B
| $81.9M | 0.83% |
+1,100,000
| New | +$81.3M |
|
|
AFI
13
DELISTED
Armstrong Flooring, Inc.
AFI
| $78M | 0.79% |
4,609,071
| – | – |
|
|
14
Baker Hughes
BKR
$61.9B
| – | – |
-31,407,820
| Closed | -$1.15B |
|
|
15
Willis Towers Watson
WTW
$31.8B
| – | – |
-2,980,008
| Closed | -$460M |
|
|
BIVV
16
DELISTED
Bioverativ Inc. Common Stock
BIVV
| – | – |
-1,270,619
| Closed | -$72.5M |
|
Similar funds
Mason Morfit's Q4 2017 Portfolio in Review
As of Q4 2017, Mason Morfit held 16 positions worth $9.88B, down 0.94% from $9.98B the previous quarter. Its ten largest holdings account for 97% of the portfolio.
Mason Morfit withdrew a net $1.59B in Q4 2017, closing 3 positions and reducing 1 holding. Its most notable exit was Baker Hughes, an estimated $1.15B position sold in full.
By sector, the portfolio is most concentrated in Financials at 36% of assets, up from 36% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Mason Morfit opened a new position in Citigroup worth $81.9M.
- Mason Morfit's largest Q4 2017 buy was Citigroup: 1,100,000 shares worth $81.9M.
- Mason Morfit added most to Trinity Industries in Q4 2017, an estimated $46.9M increase.
- Mason Morfit's biggest Q4 2017 reduction was CBRE Group, cutting an estimated $164M.
- Mason Morfit fully exited Baker Hughes in Q4 2017, selling an estimated $1.15B.
- Mason Morfit's ten largest holdings make up 97% of its $9.88B portfolio in Q4 2017.
- Mason Morfit opened 2 new positions and closed 3 in Q4 2017.
- Mason Morfit's portfolio value fell 0.94% quarter-over-quarter to $9.88B.
Based on ValueAct Holdings's 13F filing for Q4 2017, filed 15 Feb 2018.