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VH

ValueAct Holdings Portfolio holdings

AUM $5.71B
1-Year Est. Return 7.41%
This Fund
S&P 500
This Quarter Est. Return
+1.93%
1 Year Est. Return
+7.41%
3 Year Est. Return
+81.25%
5 Year Est. Return
+105.21%
10 Year Est. Return
+676.04%
AUM
$9.27B
AUM Growth
-$309M
Cap. Flow
-$386M
Cap. Flow %
-4.16%
Top 10 Hldgs %
92.53%
Holding
25
New
2
Increased
7
Reduced
7
Closed
3

Top Buys

Rank Stock Value
1
LKQ icon
LKQ Corp
LKQ
+$439M
2
STRA icon
Strategic Education
STRA
+$45.5M
3
PCG icon
PG&E
PCG
+$21.9M
4
HE icon
Hawaiian Electric Industries
HE
+$19.8M
5
EVA
Enviva Inc.
EVA
+$13.9M

Top Sells

Rank Stock Value
1
C icon
Citigroup
C
+$238M
2
MS icon
Morgan Stanley
MS
+$170M
3
CBRE icon
CBRE Group
CBRE
+$158M
4
ACA icon
Arcosa
ACA
+$92.2M
5
KKR icon
KKR & Co
KKR
+$68.6M

Sector Composition

Rank Sector Weight
1 Financials 53.92%
2 Technology 18.42%
3 Consumer Discretionary 6.29%
4 Industrials 6.1%
5 Real Estate 5.85%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
C icon
1
Citigroup
C
$217B
$1.94B 20.89%
28,025,500
-3,500,000
-11% -$238M
STX icon
2
Seagate
STX
$178B
$1.7B 18.31%
31,554,360
– –
KKR icon
3
KKR & Co
KKR
$90.6B
$1.29B 13.93%
48,100,000
-2,600,000
-5% -$68.6M
MS icon
4
Morgan Stanley
MS
$339B
$949M 10.24%
22,250,000
-3,978,561
-15% -$170M
CBRE icon
5
CBRE Group
CBRE
$41.3B
$542M 5.85%
10,225,592
-3,000,000
-23% -$158M
LKQ icon
6
LKQ Corp
LKQ
$6.47B
$504M 5.44%
+16,032,718
New +$439M
BFH icon
7
Bread Financial
BFH
$4.01B
$475M 5.13%
4,645,680
– –
TRN icon
8
Trinity Industries
TRN
$2.9B
$444M 4.79%
22,561,698
+661,698
+3% +$12.5M
BHC icon
9
Bausch Health
BHC
$1.8B
$392M 4.23%
17,931,594
– –
SLM icon
10
SLM Corp
SLM
$4.78B
$346M 3.73%
39,184,254
– –
TSG
11
DELISTED
The Stars Group Inc.
TSG
$204M 2.2%
13,630,000
– –
HE icon
12
Hawaiian Electric Industries
HE
$2.32B
$73.9M 0.8%
1,620,747
+445,000
+38% +$19.8M
AES icon
13
AES
AES
$10.5B
$71M 0.77%
4,346,500
+200,000
+5% +$3.22M
STRA icon
14
Strategic Education
STRA
$1.73B
$68M 0.73%
500,765
+267,000
+114% +$45.5M
EVA
15
DELISTED
Enviva Inc.
EVA
$67.2M 0.73%
2,104,261
+450,000
+27% +$13.9M
ACA icon
16
Arcosa
ACA
$7.12B
$54M 0.58%
1,577,265
-2,663,698
-63% -$92.2M
LIND icon
17
Lindblad Expeditions
LIND
$1.82B
$47.9M 0.52%
2,860,188
-152,110
-5% -$2.77M
DAR icon
18
Darling Ingredients
DAR
$10B
$42.9M 0.46%
2,240,000
+512,472
+30% +$10M
UFI icon
19
UNIFI
UFI
$117M
$31.1M 0.34%
1,417,054
+118,652
+9% +$2.34M
PCG icon
20
PG&E
PCG
$38.1B
$14.4M 0.16%
+1,444,800
New +$21.9M
PSN icon
21
Parsons
PSN
$6B
$9.83M 0.11%
298,000
-1,507,000
-83% -$53.8M
AFI
22
DELISTED
Armstrong Flooring, Inc.
AFI
$7.81M 0.08%
1,222,756
– –
BKNG icon
23
Booking.com
BKNG
$141B
– –
-875,000
Closed -$65.6M
EIX icon
24
Edison International
EIX
$29.9B
– –
-700,000
Closed -$47.2M
XPO icon
25
XPO
XPO
$25.2B
– –
-2,891,394
Closed -$57.8M

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TSW
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PI
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ACM
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AIM
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ValueAct Holdings's Q3 2019 Portfolio in Review

As of Q3 2019, ValueAct Holdings held 25 positions worth $9.27B, down 3.2% from $9.58B the previous quarter. Its ten largest holdings account for 93% of the portfolio.

ValueAct Holdings withdrew a net $386M in Q3 2019, closing 3 positions and reducing 7 holdings. Its most notable exit was Booking.com, an estimated $65.6M position sold in full.

By sector, the portfolio is most concentrated in Financials at 54% of assets, down from 58% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, ValueAct Holdings opened a new position in LKQ Corp worth $504M.

  • ValueAct Holdings's largest Q3 2019 buy was LKQ Corp: 16,032,718 shares worth $504M.
  • ValueAct Holdings added most to Strategic Education in Q3 2019, an estimated $45.5M increase.
  • ValueAct Holdings's biggest Q3 2019 reduction was Citigroup, cutting an estimated $238M.
  • ValueAct Holdings fully exited Booking.com in Q3 2019, selling an estimated $65.6M.
  • ValueAct Holdings's ten largest holdings make up 93% of its $9.27B portfolio in Q3 2019.
  • ValueAct Holdings opened 2 new positions and closed 3 in Q3 2019.
  • ValueAct Holdings's portfolio value fell 3.2% quarter-over-quarter to $9.27B.

Based on ValueAct Holdings's 13F filing for Q3 2019, filed 14 Nov 2019.