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 |
CDW
CDW
|
+$27.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NKLA
Nikola Corporation Common Stock
NKLA
|
+$788M |
| 2 |
EVA
Enviva Inc.
EVA
|
+$174M |
| 3 |
Morgan Stanley
MS
|
+$139M |
| 4 |
Hawaiian Electric Industries
HE
|
+$117M |
| 5 |
Strategic Education
STRA
|
+$90.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 49.62% |
| 2 | Technology | 22.27% |
| 3 | Industrials | 8.96% |
| 4 | Consumer Discretionary | 8.41% |
| 5 | Real Estate | 6.76% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Seagate
STX
$193B
| $1.55B | 21.87% |
31,554,360
| – | – |
|
2
KKR & Co
KKR
$97.4B
| $1.55B | 21.74% |
45,000,000
| – | – |
|
3
Citigroup
C
$221B
| $1.17B | 16.39% |
27,025,500
| – | – |
|
4
LKQ Corp
LKQ
$6.52B
| $598M | 8.41% |
21,547,746
| – | – |
|
|
5
Morgan Stanley
MS
$336B
| $556M | 7.82% |
11,500,000
-2,750,000
| -19% | -$139M |
|
6
Trinity Industries
TRN
$2.37B
| $527M | 7.41% |
27,005,855
| – | – |
|
7
CBRE Group
CBRE
$44B
| $480M | 6.76% |
10,229,820
| – | – |
|
8
Bausch Health
BHC
$2.41B
| $279M | 3.92% |
17,931,594
| – | – |
|
9
SLM Corp
SLM
$4.97B
| $261M | 3.68% |
32,294,254
| – | – |
|
10
A.O. Smith
AOS
$8.57B
| $110M | 1.55% |
2,092,510
| – | – |
|
|
11
CDW
CDW
$17.2B
| $28.6M | 0.4% |
+239,613
| New | +$27.4M |
|
|
AFI
12
DELISTED
Armstrong Flooring, Inc.
AFI
| $4.22M | 0.06% |
1,222,756
| – | – |
|
13
AES
AES
$10.5B
| – | – |
-5,346,500
| Closed | -$77.5M |
|
14
BP
BP
$115B
| – | – |
-2,572,000
| Closed | -$60M |
|
15
Darling Ingredients
DAR
$10.4B
| – | – |
-2,640,000
| Closed | -$65M |
|
|
16
Hawaiian Electric Industries
HE
$1.99B
| – | – |
-3,246,668
| Closed | -$117M |
|
17
Lindblad Expeditions
LIND
$2.04B
| – | – |
-4,923,247
| Closed | -$38M |
|
|
18
Strategic Education
STRA
$1.85B
| – | – |
-591,375
| Closed | -$90.9M |
|
19
UNIFI
UFI
$149M
| – | – |
-1,417,054
| Closed | -$18.3M |
|
20
Verra Mobility
VRRM
$693M
| – | – |
-5,905,000
| Closed | -$60.7M |
|
|
NKLA
21
DELISTED
Nikola Corporation Common Stock
NKLA
| – | – |
-389,181
| Closed | -$788M |
|
|
EVA
22
DELISTED
Enviva Inc.
EVA
| – | – |
-4,834,867
| Closed | -$174M |
|
Similar funds
Mason Morfit's Q3 2020 Portfolio in Review
As of Q3 2020, Mason Morfit held 22 positions worth $7.11B, down 19% from $8.74B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Mason Morfit withdrew a net $1.6B in Q3 2020, closing 10 positions and reducing 1 holding. Its most notable exit was Nikola Corporation Common Stock, an estimated $788M position sold in full.
By sector, the portfolio is most concentrated in Financials at 50% of assets, up from 42% a quarter earlier, followed by Technology and Industrials.
Against the trend, Mason Morfit opened a new position in CDW worth $28.6M.
- Mason Morfit's largest Q3 2020 buy was CDW: 239,613 shares worth $28.6M.
- Mason Morfit's biggest Q3 2020 reduction was Morgan Stanley, cutting an estimated $139M.
- Mason Morfit fully exited Nikola Corporation Common Stock in Q3 2020, selling an estimated $788M.
- Mason Morfit's ten largest holdings make up 100% of its $7.11B portfolio in Q3 2020.
- Mason Morfit opened 1 new position and closed 10 in Q3 2020.
- Mason Morfit's portfolio value fell 19% quarter-over-quarter to $7.11B.
Based on ValueAct Holdings's 13F filing for Q3 2020, filed 16 Nov 2020.