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 |
LKQ Corp
LKQ
|
+$149M |
| 2 |
BP
BP
|
+$89.6M |
| 3 |
A.O. Smith
AOS
|
+$89.2M |
| 4 |
Outfront Media
OUT
|
+$75.9M |
| 5 |
Hawaiian Electric Industries
HE
|
+$56.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FedEx
FDX
|
+$89.2M |
| 2 |
SLM Corp
SLM
|
+$66.5M |
| 3 |
Bread Financial
BFH
|
+$37M |
| 4 |
Morgan Stanley
MS
|
+$35.3M |
| 5 |
KKR & Co
KKR
|
+$22.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 41.81% |
| 2 | Technology | 22.72% |
| 3 | Industrials | 8.35% |
| 4 | Consumer Discretionary | 6.88% |
| 5 | Real Estate | 6.2% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Seagate
STX
$193B
| $1.54B | 22.12% |
31,554,360
| – | – |
|
2
Citigroup
C
$221B
| $1.14B | 16.35% |
27,025,500
| – | – |
|
|
3
KKR & Co
KKR
$97.4B
| $1.06B | 15.17% |
45,000,000
-784,200
| -2% | -$22.5M |
|
|
4
Morgan Stanley
MS
$336B
| $485M | 6.96% |
14,250,000
-750,000
| -5% | -$35.3M |
|
|
5
LKQ Corp
LKQ
$6.52B
| $442M | 6.35% |
21,547,746
+5,015,028
| +30% | +$149M |
|
6
Trinity Industries
TRN
$2.37B
| $434M | 6.23% |
27,005,855
+2,115,857
| +9% | +$42.3M |
|
7
CBRE Group
CBRE
$44B
| $386M | 5.54% |
10,225,592
| – | – |
|
|
TSG
8
DELISTED
The Stars Group Inc.
TSG
| $278M | 4% |
13,630,000
| – | – |
|
9
Bausch Health
BHC
$2.41B
| $278M | 3.99% |
17,931,594
| – | – |
|
|
10
SLM Corp
SLM
$4.97B
| $232M | 3.34% |
32,294,254
-6,890,000
| -18% | -$66.5M |
|
|
11
Hawaiian Electric Industries
HE
$1.99B
| $140M | 2.01% |
3,246,668
+1,213,205
| +60% | +$56.1M |
|
12
Strategic Education
STRA
$1.85B
| $90.8M | 1.3% |
650,000
-23,265
| -3% | -$3.55M |
|
|
13
A.O. Smith
AOS
$8.57B
| $79.1M | 1.14% |
+2,092,510
| New | +$89.2M |
|
|
14
BP
BP
$115B
| $67.6M | 0.97% |
+2,772,000
| New | +$89.6M |
|
|
EVA
15
DELISTED
Enviva Inc.
EVA
| $67.5M | 0.97% |
2,527,175
+422,914
| +20% | +$14.7M |
|
16
AES
AES
$10.5B
| $59.1M | 0.85% |
4,346,500
| – | – |
|
17
Darling Ingredients
DAR
$10.4B
| $50.6M | 0.73% |
2,640,000
+600,000
| +29% | +$15.2M |
|
|
18
Outfront Media
OUT
$5.25B
| $46.2M | 0.66% |
3,481,951
+3,103,602
| +820% | +$75.9M |
|
19
Verra Mobility
VRRM
$693M
| $42.2M | 0.61% |
5,905,000
+750,000
| +15% | +$9.99M |
|
20
Lindblad Expeditions
LIND
$2.04B
| $20.5M | 0.29% |
4,923,247
+1,355,129
| +38% | +$17.4M |
|
21
UNIFI
UFI
$149M
| $16.4M | 0.24% |
1,417,054
| – | – |
|
22
Comcast
CMCSA
$95.3B
| $11.3M | 0.16% |
+328,000
| New | +$13.8M |
|
|
AFI
23
DELISTED
Armstrong Flooring, Inc.
AFI
| $1.75M | 0.03% |
1,222,756
| – | – |
|
|
HDS
24
DELISTED
HD Supply Holdings, Inc.
HDS
| $711K | 0.01% |
+25,000
| New | +$933K |
|
|
25
Bread Financial
BFH
$4.07B
| – | – |
-413,490
| Closed | -$37M |
|
Similar funds
Mason Morfit's Q1 2020 Portfolio in Review
As of Q1 2020, Mason Morfit held 26 positions worth $6.96B, down 30% from $9.88B the previous quarter. Its ten largest holdings account for 90% of the portfolio.
Mason Morfit deployed $320M of net new capital in Q1 2020, opening 4 new positions and adding to 8 existing holdings. Its largest new stake was BP: 2,772,000 shares worth $67.6M.
By sector, the portfolio is most concentrated in Financials at 42% of assets, down from 47% a quarter earlier, followed by Technology and Industrials.
On the sell side, the largest reduction was SLM Corp, an estimated $66.5M trimmed.
- Mason Morfit's largest Q1 2020 buy was BP: 2,772,000 shares worth $67.6M.
- Mason Morfit added most to LKQ Corp in Q1 2020, an estimated $149M increase.
- Mason Morfit's biggest Q1 2020 reduction was SLM Corp, cutting an estimated $66.5M.
- Mason Morfit fully exited FedEx in Q1 2020, selling an estimated $89.2M.
- Mason Morfit's ten largest holdings make up 90% of its $6.96B portfolio in Q1 2020.
- Mason Morfit opened 4 new positions and closed 2 in Q1 2020.
- Mason Morfit's portfolio value fell 30% quarter-over-quarter to $6.96B.
Based on ValueAct Holdings's 13F filing for Q1 2020, filed 15 May 2020.