ValueAct Holdings Portfolio holdings
ValueAct Holdings is the holding partnership that owns the management arm of ValueAct Capital, an activist investor that prefers to stay behind the scenes. ValueAct Capital was formed in 2000 and led by Jeff Ubben until 2020, when Mason Morfit became chief executive, and Rob Hale joined Morfit as co-chief executive in 2024. In 2013 ValueAct Capital disclosed a stake in Microsoft, and Morfit sat on Microsoft's board from early 2014 to late 2017. It later revealed a stake in Salesforce in 2023, when Morfit joined that company's board, and another in Meta in 2024. ValueAct Capital invests for the long term, regularly holding positions for three to five years and sometimes for ten years or more.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Rocket Companies
RKT
|
+$194M |
| 2 |
CBRE Group
CBRE
|
+$104M |
| 3 |
Spotify
SPOT
|
+$80.2M |
| 4 |
PayPay
PAYP
|
+$39.6M |
| 5 |
Blackrock
BLK
|
+$36.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MongoDB
MDB
|
+$262M |
| 2 |
Liberty Live Group Series C
LLYVK
|
+$135M |
| 3 |
Roblox
RBLX
|
+$134M |
| 4 |
Simpson Manufacturing
SSD
|
+$106M |
| 5 |
Liberty Live Group Series A
LLYVA
|
+$93.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 41.47% |
| 2 | Communication Services | 22.95% |
| 3 | Technology | 17.68% |
| 4 | Consumer Discretionary | 12.44% |
| 5 | Materials | 3.09% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Visa
V
$795B
| $795M | 14.1% |
2,316,250
| – | – |
2024 Q3
7 quarters
|
|
2
Amazon
AMZN
$2.93T
| $701M | 12.44% |
2,941,700
+57,100
| +2% | +$14.3M |
2024 Q4
6 quarters
|
|
|
3
Rocket Companies
RKT
$40.8B
| $656M | 11.65% |
41,668,774
+13,454,050
| +48% | +$194M |
2025 Q1
5 quarters
|
|
|
4
Blackrock
BLK
$191B
| $559M | 9.93% |
581,700
+35,600
| +7% | +$36.8M |
2025 Q4
2 quarters
|
|
5
Meta Platforms (Facebook)
META
$1.6T
| $516M | 9.15% |
915,674
| – | – |
2024 Q3
7 quarters
|
|
6
Salesforce
CRM
$179B
| $469M | 8.33% |
2,994,509
| – | – |
2022 Q4
14 quarters
|
|
7
Toast
TOST
$19.8B
| $393M | 6.98% |
14,134,038
+1,238,600
| +10% | +$32.3M |
2025 Q3
3 quarters
|
|
8
KKR & Co
KKR
$88.1B
| $327M | 5.8% |
3,558,200
+278,500
| +8% | +$27M |
2026 Q1
1 quarter
|
|
|
9
Spotify
SPOT
$125B
| $242M | 4.29% |
526,800
+168,300
| +47% | +$80.2M |
2026 Q1
1 quarter
|
|
|
10
Liberty Live Group Series C
LLYVK
$10B
| $229M | 4.07% |
2,172,388
-1,388,820
| -39% | -$135M |
2024 Q3
7 quarters
|
|
|
11
Simpson Manufacturing
SSD
$8.12B
| $174M | 3.09% |
830,642
-567,400
| -41% | -$106M |
2025 Q2
4 quarters
|
|
|
12
Roblox
RBLX
$37.5B
| $171M | 3.04% |
3,147,421
-2,701,200
| -46% | -$134M |
2023 Q3
11 quarters
|
|
|
13
CBRE Group
CBRE
$38.7B
| $134M | 2.37% |
992,391
+757,800
| +323% | +$104M |
2025 Q2
4 quarters
|
|
|
14
Liberty Live Group Series A
LLYVA
$9.6B
| $79.5M | 1.41% |
785,119
-991,956
| -56% | -$93.9M |
2024 Q3
7 quarters
|
|
|
15
MongoDB
MDB
$27.4B
| $55.7M | 0.99% |
165,700
-872,100
| -84% | -$262M |
2025 Q2
4 quarters
|
|
16
Live Nation Entertainment
LYV
$42.9B
| $55.3M | 0.98% |
302,066
-322,600
| -52% | -$53.1M |
2024 Q3
7 quarters
|
|
17
WIX.com
WIX
$2.8B
| $47.4M | 0.84% |
1,099,370
| – | – |
2026 Q1
1 quarter
|
|
|
18
PayPay
PAYP
$9.6B
| $30.9M | 0.55% |
+2,154,800
| New | +$39.6M |
2026 Q2
0 quarters
|
|
19
Walt Disney
DIS
$206B
| – | – |
-400,231
| Closed | -$38.6M | – |
|
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ValueAct Holdings's Q2 2026 Portfolio in Review
As of Q2 2026, ValueAct Holdings held 19 positions worth $5.63B, down 1.4% from $5.71B the previous quarter. Its ten largest holdings account for 87% of the portfolio.
ValueAct Holdings withdrew a net $294M in Q2 2026, closing 1 position and reducing 6 holdings. Its most notable exit was Walt Disney, an estimated $38.6M position sold in full.
By sector, the portfolio is most concentrated in Financials at 41% of assets, up from 34% a quarter earlier, followed by Communication Services and Technology.
Against the trend, ValueAct Holdings opened a new position in PayPay worth $30.9M.
- ValueAct Holdings's largest Q2 2026 buy was PayPay: 2,154,800 shares worth $30.9M.
- ValueAct Holdings added most to Rocket Companies in Q2 2026, an estimated $194M increase.
- ValueAct Holdings's biggest Q2 2026 reduction was MongoDB, cutting an estimated $262M.
- ValueAct Holdings fully exited Walt Disney in Q2 2026, selling an estimated $38.6M.
- ValueAct Holdings's ten largest holdings make up 87% of its $5.63B portfolio in Q2 2026.
- ValueAct Holdings opened 1 new position and closed 1 in Q2 2026.
- ValueAct Holdings's portfolio value fell 1.4% quarter-over-quarter to $5.63B.
Based on ValueAct Holdings's 13F filing for Q2 2026, filed 14 Aug 2026.