Tracking ValueAct Portfolio – Q3 2024 Update

• ValueAct’s 13F portfolio value increased from ~$3.56B to ~$4.37B this quarter.
• ValueAct increased Roblox (RBLX) and added Toast (TOST) while dropping Spotify (SPOT) and Fiserv (FISV).
• The top three positions are Salesforce.com (CRM), Insight Enterprises (NSIT), and Walt Disney (DIS), and they add up to ~60% of the portfolio. 

This article is part of a series that provides an ongoing analysis of the changes made to ValueAct’s 13F stock portfolio on a quarterly basis. It is based on their regulatory 13F Form filed on 11/14/2024. Please visit our Tracking ValueAct Portfolio article for an idea on their investment philosophy and our previous update for the fund’s moves during Q2 2024.

 

This quarter, ValueAct’s 13F portfolio value increased from ~$3.56B to ~$4.37B. The number of holdings remained steady at 10. The top three positions are at ~60% while the top five are at ~80% of the 13F assets. The largest position is Salesforce.com which is at ~25% of the portfolio. To know more about ValueAct’s activist style of value investing, check out Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations.

 

Note: It was reported in April 2020 that ValueAct has built a 2.6M share (~2% of the business, ~$1.1B) stake in Nintendo (NTDOY).

 

 

The spreadsheet below highlights changes to ValueAct’s 13F stock holdings in Q3 2024:

 

 

Source: John Vincent. Data constructed from ValueAct’s 13F filings for Q2 2024 and Q3 2024.

 

Tracking ValueAct Portfolio – Q2 2024 Update

• ValueAct’s 13F portfolio value decreased from ~$4.54B to ~$3.56B this quarter.
• ValueAct decreased Fiserv (FISV) and dropped CBRE Group (CBRE) while increasing Salesforce.com (CRM) and Walt Disney (DIS).
• The top three positions are Salesforce.com (CRM), Insight Enterprises (NSIT), and Walt Disney (DIS), and they add up to ~68% of the portfolio.

This article is part of a series that provides an ongoing analysis of the changes made to ValueAct’s 13F stock portfolio on a quarterly basis. It is based on their regulatory 13F Form filed on 08/14/2024. Please visit our Tracking ValueAct Portfolio article for an idea on their investment philosophy and our previous update for the fund’s moves during Q1 2024.

 

This quarter, ValueAct’s 13F portfolio value decreased from ~$4.54B to ~$3.56B. The number of holdings decreased from 12 to 10. The top three positions are at ~68% while the top five are at ~86% of the 13F assets. The largest position is Salesforce.com which is at ~28% of the portfolio. To know more about ValueAct’s activist style of value investing, check out Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations.

 

Note: It was reported in April 2020 that ValueAct has built a 2.6M share (~2% of the business, ~$1.1B) stake in Nintendo (NTDOY).

 

 

The spreadsheet below highlights changes to ValueAct’s 13F stock holdings in Q2 2024:

 

 

Source: John Vincent. Data constructed from ValueAct’s 13F filings for Q1 2024 and Q2 2024.

Tracking Jeffrey Ubben's ValueAct Portfolio - Q1 2016 Update

Below is a spreadsheet that highlights changes to Jeffrey Ubben's ValueAct Capital US long stock portfolio this quarter. Please check-out our SeekingAlpha column for an analysis of the moves:

 To know more about activist investing, check out Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations.

To learn more about how to profit from a strategy of cloning hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy.

Tracking Jeffrey Ubben's ValueAct Holdings - Q2 2015 Update

Below is a spreadsheet that highlights changes to Jeffrey Ubben's ValueAct Capital US long stock portfolio this quarter. Please check-out our SeekingAlpha column for an analysis of the moves:

 To learn more about how to profit from a strategy of cloning hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy.  

Tracking Jeffrey Ubben's ValueAct Holdings - Q4 2014 Update

Below is a spreadsheet that highlights changes to Jeffrey Ubben's ValueAct Capital US long stock portfolio this quarter. Please check-out our SeekingAlpha column for an analysis of the moves:

 To learn more about how to profit from a strategy of cloning hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy. 
 

Tracking Jeffrey Ubben's ValueAct Holdings - Q2 2014 Update

Below is a spreadsheet that highlights the changes to Jeffrey Ubben's ValueAct Capital US long stock portfolio as of Q2 2014. Please check out our previous update to have an idea on how the portfolio is progressing:

To learn more about how to profit from a strategy of cloning hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy. 

Tracking Jeffrey Ubben's ValueAct Holdings - Q1 2014 Update

Below is a spreadsheet that highlights the changes to Jeffrey Ubben's ValueAct Capital US long stock portfolio as of Q1 2014. Please check out our previous update to have an idea on how the portfolio is progressing:

To know more about Jeffrey Ubben and his value investing style check out the book The Art of Value Investing: How the World's Best Investors Beat the Market.

To learn more about how to profit from a strategy of cloning hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .

Tracking Jeffrey Ubben's ValueAct Holdings - Q4 2013 Update

Below is a spreadsheet that highlights the changes to Jeffrey Ubben's ValueAct Capital US long stock portfolio as of Q4 2013. Please check out our previous update to have an idea on how the portfolio is progressing:

Microsoft, ValueAct's largest position by far at over 20% was kept steady this quarter. Other changes include a ~24% stake reduction in Adobe Systems (ADBE), an almost ~300% stake increase in Allison Transmission Holding (ALSN), a minor stake increase in MSCI Inc. (MSCI), and a very small 0.32% stake establishment in Dresser-Rand Group (DRC).  ADBE still accounts for 12.53% of the US long portfolio and ALSM stake is now at 4.12%.

To know more about Jeffrey Ubben and his value investing style check out the book The Art of Value Investing: How the World's Best Investors Beat the Market. To learn more about how to profit from a strategy of cloning hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .