ValueAct Capital
Mason MorfitSAN FRANCISCO, CAfiles as ValueAct Holdings, L.P.
$5.6bn in 18 US stocks at the end of 30 June 2026. The top 10 are 86.7% of the money. It changed about 14.2% of the portfolio this quarter.
Value
$5.6bn
Stocks
18
Top 10 share
86.7%
Turnover
14.2%
What changed this quarter
New
Bought for the first time this quarter.
- PayPayPAYP0.5% of the fund
Added
Bought more of a stock they already held.
- Rocket CompaniesRKT11.6% of the fund+48%
- BlackRockBLK9.9% of the fund+7%
- ToastTOST7.0% of the fund+10%
- KKRKKR5.8% of the fund+8%
- Spotify TechnologySPOT4.3% of the fund+47%
- Cbre GroupCBRE2.4% of the fund+323%
Cut
Sold some of their stake.
- Liberty Live HoldingsLLYVK4.1% of the fund-39%
- Simpson ManufacturingSSD3.1% of the fund-41%
- RobloxRBLX3.0% of the fund-46%
- Liberty Live HoldingsLLYVA1.4% of the fund-56%
- MongoDBMDB1.0% of the fund-84%
- Live Nation EntertainmentLYV1.0% of the fund-52%
Sold out
Sold their entire stake.
- Walt DisneyDIS-100%
Holdings
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| VisaV | 14.1% | $795m | 2,316,250 | Held |
| Amazon.comAMZN | 12.4% | $701m | 2,941,700 | Held |
| Rocket CompaniesRKT | 11.6% | $656m | 41,668,774 | +48% |
| BlackRockBLK | 9.9% | $559m | 581,700 | +7% |
| Meta PlatformsMETA | 9.2% | $516m | 915,674 | Held |
| SalesforceCRM | 8.3% | $469m | 2,994,509 | Held |
| ToastTOST | 7.0% | $393m | 14,134,038 | +10% |
| KKRKKR | 5.8% | $327m | 3,558,200 | +8% |
| Spotify TechnologySPOT | 4.3% | $242m | 526,800 | +47% |
| Liberty Live HoldingsLLYVK | 4.1% | $229m | 2,172,388 | -39% |
| Simpson ManufacturingSSD | 3.1% | $174m | 830,642 | -41% |
| RobloxRBLX | 3.0% | $171m | 3,147,421 | -46% |
| Cbre GroupCBRE | 2.4% | $134m | 992,391 | +323% |
| Liberty Live HoldingsLLYVA | 1.4% | $80m | 785,119 | -56% |
| MongoDBMDB | 1.0% | $56m | 165,700 | -84% |
| Live Nation EntertainmentLYV | 1.0% | $55m | 302,066 | -52% |
| Wix.comWIX | 0.8% | $47m | 1,099,370 | Held |
| PayPayPAYP | 0.5% | $31m | 2,154,800 | New |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 0.6% since 30 June 2025.
Where the money is
Financial services48.4%
Retail & consumer17.9%
Media & telecom14.4%
Technology13.7%
Industrials3.1%
Real estate2.4%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.