ValueAct Holdings, L.P.

Superinvestor · Mason Morfit

CIK

1418814

Location

SAN FRANCISCO, CA

Portfolio Value

Mid $5,382,272,251

Diversification

Diversified

Filing Date

Global Rank

#637 / 8,605 ▼ 81 · as of Mar 2026

Top Industry

Asset Management 15.4%

3Y Alpha vs SPY

-4.0%

Period ended 3 months ago

Filed May 15, 2026 · 55d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+59.3%

SPY

+76.5%

Annualised alpha

-4.1%

Max drawdown

−28.1%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

17 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

13.0%

+1.2 pts

Top 5

54.0%

−2.1 pts

Top 10

84.4%

−6.1 pts

HHI

826

Diversified−82

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	35.9%	$1,930,685,298	4
Communication Services	24.6%	$1,325,216,030	6
Technology	23.3%	$1,253,885,617	4
Consumer Cyclical	11.2%	$600,775,642	1
Basic Materials	4.5%	$239,931,968	1
Real Estate	0.6%	$31,777,696	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

2 positions

Ticker	Company	Δ Shares	Shares	Value
TOST	Toast, Inc.	+4,880,161	12,895,438	$341,858,061
V	Visa Inc.	+598,000	2,316,250	$700,063,400
No positions match the current search.

Trimmed

Positions the filer reduced

10 positions

Ticker	Company	Δ Shares	Shares	Value
RKT	Rocket Companies, Inc.	−11,165,928	28,214,724	$402,059,817
DIS	Walt Disney Co	−2,677,700	400,231	$38,574,263
AMZN	Amazon Com Inc	−509,700	2,884,600	$600,775,642
MDB	MongoDB, Inc.	−369,000	1,037,800	$254,022,306
LYV	Live Nation Entertainment, Inc.	−198,400	624,666	$95,267,811
BLK	BlackRock, Inc.	−148,900	546,100	$525,189,831
META	Meta Platforms, Inc.	−132,300	915,674	$523,884,565
RBLX	Roblox Corp	−127,200	5,848,621	$330,798,003
SSD	Simpson Manufacturing Co., Inc.	−74,100	1,398,042	$239,931,968
LLYVA	Liberty Live Holdings, Inc.	−22,244	1,777,075	$162,851,153
No positions match the current search.

New Positions

Positions the filer opened this quarter

3 positions

Ticker	Company	Shares	Value
KKR	KKR & Co. Inc.	3,279,700	$303,372,250
SPOT	Spotify Technology S.A.	358,500	$173,840,235
WIX	Wix.com Ltd.	1,099,370	$99,020,255
No positions match the current search.

Sold Out

Positions the filer fully exited

1 positions

Ticker	Company	Shares	Value	Open
NSIT	Insight Enterprises Inc	1,216,592	$99,115,750
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

17 positions · $5,382,272,251 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Financial Services Real Estate Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Est. Price	% of Portfolio
V	Visa Inc. Financial Services	Added	2,316,250	+598,000	$700,063,400	+16.2%	$321.55	13.01%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	2,884,600	-509,700	$600,775,642	−23.3%	$220.17	11.16%
CRM	Salesforce, Inc. Technology	Held	2,994,509	0	$558,984,995	−29.5%	$207.19	10.39%
BLK	BlackRock, Inc. Financial Services	Reduced	546,100	-148,900	$525,189,831	−29.4%	$1,052.09	9.76%
META	Meta Platforms, Inc. Communication Services	Reduced	915,674	-132,300	$523,884,565	−24.3%	$640.86	9.73%
RKT	Rocket Companies, Inc. Financial Services	Reduced	28,214,724	-11,165,928	$402,059,817	−47.3%	$18.19	7.47%
TOST	Toast, Inc. Technology	Added	12,895,438	+4,880,161	$341,858,061	+20.1%	$29.84	6.35%
RBLX	Roblox Corp Communication Services	Reduced	5,848,621	-127,200	$330,798,003	−31.7%	$67.16	6.15%
KKR	KKR & Co. Inc. Financial Services	NEW	3,279,700	NEW	$303,372,250	NEW	$105.41	5.64%
MDB	MongoDB, Inc. Technology	Reduced	1,037,800	-369,000	$254,022,306	−57.0%	$334.49	4.72%
SSD	Simpson Manufacturing Co., Inc. Basic Materials	Reduced	1,398,042	-74,100	$239,931,968	+0.9%	$184.36	4.46%
SPOT	Spotify Technology S.A. Communication Services	NEW	358,500	NEW	$173,840,235	NEW	$501.86	3.23%
LLYVA	Liberty Live Holdings, Inc. Communication Services	Reduced	1,777,075	-22,244	$162,851,153	+11.1%	$87.82	3.03%
WIX	Wix.com Ltd. Technology	NEW	1,099,370	NEW	$99,020,255	NEW	$83.61	1.84%
LYV	Live Nation Entertainment, Inc. Communication Services	Reduced	624,666	-198,400	$95,267,811	−18.8%	$151.44	1.77%
DIS	Walt Disney Co Communication Services	Reduced	400,231	-2,677,700	$38,574,263	−89.0%	$105.69	0.72%
CBRE	Cbre Group, Inc. Real Estate	Held	234,591	0	$31,777,696	−15.8%	$151.95	0.59%