ValueAct Holdings
Mason Morfit · CIK 0001418814 · latest 13F for 2026-06-30 filed 2026-08-14
Estimated from 13F holdings — long US equities only; follow-the-filing returns are net of an assumed 10 bps per unit of turnover.
About the fund
ValueAct Capital is a San Francisco-based investment management firm and private hedge fund that invests in public equity markets. The firm is known for its constructive, behind-the-scenes activist approach, often working directly with management teams and boards to build long-term value.
Investment approach
ValueAct employs a long-term, concentrated, active value investing strategy, often holding positions for 3-5 years or longer. The firm seeks to identify fundamentally undervalued companies, including those out of favor or undergoing transition, and works productively with management and boards to implement strategies that maximize shareholder value. It is known for a constructive, behind-the-scenes activist approach.
History
ValueAct Capital was founded in 2000 by Jeffrey Ubben to manage capital for its founders and a limited number of outside investors. The firm was led by Ubben until 2020, when Mason Morfit became CEO. Over its history, the firm has made over 120 core investments and served on numerous public company boards.
Notable positions & campaigns
- Microsoft2013 — ValueAct purchased a stake and Morfit joined the board; the company thrived under CEO Satya Nadella.
- Salesforce2023 — ValueAct revealed a stake and Morfit was appointed to the board.
- The New York Times Company2022 — ValueAct disclosed a 7% stake to encourage the sale of bundled subscriptions.
- Rocket Companies2025 — ValueAct disclosed a 9.9% stake.
- Meta2024 — ValueAct took a $1 billion position.
Profile generated 2026-10-09 from public sources; may be incomplete or out of date.
- Founded by
- Jeffrey Ubben
- Founded
- 2000
- HQ
- San Francisco, United States
- Reported AUM
- $11.3bn (as of 2026-03-30)
- Website
- valueact.com
Management
- Mason MorfitCEO and CIO
- Rob HaleCo-CEO
Holdings heatmap
Latest 13F (2026-06-30): top 18 positions grouped by sector, sized by weight, coloured by the change in weight since the previous 13F.
Holdings map
Each tile is a position, sized by reported value and coloured by the stock's own price return (red down, green up) — the LiquidRound / finviz-style map.
Copy portfolio vs SPY
Growth of $1 following each filing the trading day after it was filed.
Top holdings
Latest 13F (2026-06-30).
| # | Ticker | Value | Weight |
|---|---|---|---|
| 1 | V | $795M | 14.1% |
| 2 | AMZN | $701M | 12.4% |
| 3 | RKT | $656M | 11.6% |
| 4 | BLK | $559M | 9.9% |
| 5 | META | $516M | 9.2% |
| 6 | CRM | $469M | 8.3% |
| 7 | TOST | $393M | 7.0% |
| 8 | KKR | $327M | 5.8% |
| 9 | — | $242M | 4.3% |
| 10 | LLYVK | $229M | 4.1% |
| 11 | SSD | $174M | 3.1% |
| 12 | RBLX | $171M | 3.0% |
| 13 | CBRE | $134M | 2.4% |
| 14 | LLYVA | $80M | 1.4% |
| 15 | MDB | $56M | 1.0% |
| 16 | LYV | $55M | 1.0% |
| 17 | — | $47M | 0.8% |
| 18 | PAYP | $31M | 0.5% |
Sector mix
Top-25 holdings by weight.
Changes this quarter
| Move | Ticker | Prev wt | Now wt |
|---|---|---|---|
| added | RKT | 7.0% | 11.6% |
| trimmed | MDB | 4.4% | 1.0% |
| trimmed | RBLX | 5.8% | 3.0% |
| added | CBRE | 0.6% | 2.4% |
| trimmed | LLYVK | 5.9% | 4.1% |
| trimmed | LLYVA | 2.9% | 1.4% |
| added | — | 3.0% | 4.3% |
| trimmed | SSD | 4.2% | 3.1% |
| added | TOST | 6.0% | 7.0% |
| added | BLK | 9.2% | 9.9% |
| trimmed | LYV | 1.7% | 1.0% |
| exited | DIS | 0.7% | 0.0% |
| new | PAYP | 0.0% | 0.5% |
| added | KKR | 5.3% | 5.8% |
Quarterly copy returns
Each 13F held from the day after filing until the next filing.
| 13F period | Copy | SPY | Alpha | Coverage |
|---|---|---|---|---|
| 2026-06-30 | -1.1% | +0.4% | -1.5% | 95% |
| 2026-03-31 | +7.8% | +4.9% | +2.9% | 95% |
| 2025-12-31 | -3.6% | +7.9% | -11.5% | 100% |
| 2025-09-30 | -5.6% | +3.4% | -9.0% | 97% |
| 2025-06-30 | -7.5% | +3.7% | -11.2% | 96% |
| 2025-03-31 | +7.9% | +8.6% | -0.7% | 99% |
| 2024-12-31 | -3.0% | -2.5% | -0.4% | 100% |
| 2024-09-30 | +8.5% | +4.7% | +3.8% | 100% |
| 2024-06-30 | +14.0% | +6.2% | +7.8% | 93% |
| 2024-03-31 | +1.2% | +4.9% | -3.8% | 94% |
| 2023-12-31 | -0.4% | +5.6% | -6.0% | 96% |
| 2023-09-30 | +25.5% | +12.1% | +13.4% | 84% |
| 2023-06-30 | +3.3% | +1.9% | +1.4% | 82% |
| 2023-03-31 | +13.1% | +8.4% | +4.7% | 80% |
| 2022-12-31 | -8.2% | -0.5% | -7.6% | 86% |
| 2022-09-30 | +13.1% | +4.4% | +8.7% | 83% |
Filing dates
- 2026-08-1413F-HR for 2026-06-30 · $5.6B · 18 rows
- 2026-05-1513F-HR for 2026-03-31 · $5.7B · 18 rows
- 2026-02-1713F-HR for 2025-12-31 · $7.0B · 16 rows
- 2025-11-1413F-HR for 2025-09-30 · $5.9B · 16 rows
- 2025-08-1413F-HR for 2025-06-30 · $5.6B · 18 rows
- 2025-05-1513F-HR for 2025-03-31 · $4.6B · 14 rows
- 2025-02-1413F-HR for 2024-12-31 · $4.4B · 12 rows
- 2024-11-1513F-HR/A for 2024-09-30 · $4.4B · 11 rows
- 2024-11-1413F-HR for 2024-09-30 · $3.9B · 10 rows
- 2024-08-1413F-HR for 2024-06-30 · $3.6B · 10 rows
- 2024-05-1513F-HR for 2024-03-31 · $4.5B · 12 rows
- 2024-02-1413F-HR for 2023-12-31 · $5.0B · 14 rows
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