ValueAct Capital Management
ValueAct Capital Management, led by CEO Mason Morfit, is a San Francisco-based investment firm known for its activist approach to investing. Morfit, who has been with ValueAct since 2001 and became CEO in 2021, has a reputation for working collaboratively with boards and management of portfolio companies to enhance long-term value. The firm typically invests in undervalued companies and seeks to engage actively in their strategic evolution.
AUM figures shown are calculated by summing the reported market value of all positions in SEC 13F-HR filings — not the fund's actual assets under management.
- Excludes cash, bonds, private equity, short positions, and foreign-listed stocks not required to be reported.
- For PUT and CALL options, the reported Value is the notional value of the underlying shares — not the option premium paid. This significantly overstates the actual capital at risk.
- Actual fund AUM is typically higher and includes strategies, instruments, and positions that never appear in a 13F.
- 13F filings cover institutional managers with ≥$100M in 13F securities. Positions reflect end-of-quarter holdings, disclosed up to 45 days after the period ends.
Data sourced from SEC EDGAR. This tracker is for informational purposes only and does not constitute investment advice.
Portfolio Holdings
Top 16 positions
| Ticker | Issuer | Notional | Port % | @ Filing | Now (EOD) | Since Filing | Allocation |
|---|---|---|---|---|---|---|---|
| $628.8M | 15.84% | — | — | 15.8% | |||
| SLE | $614.8M | 15.49% | — | $2.96 | 15.5% | ||
| MDZ | $450.1M | 11.34% | — | — | 11.3% | ||
| IT | $402.0M | 10.13% | $19.34 | $141.61 | +632.2% | 10.1% | |
| EFX | $377.5M | 9.51% | $28.43 | $175.29 | +516.6% | 9.5% | |
| MCO | $307.5M | 7.75% | $27.96 | $502.88 | +1698.6% | 7.8% | |
| WCRX | $254.6M | 6.42% | — | — | 6.4% | ||
| OCR | $214.0M | 5.39% | — | — | 5.4% | ||
| EYE | $178.9M | 4.51% | — | $19.87 | 4.5% | ||
| VRX | $169.9M | 4.28% | — | — | 4.3% | ||
| ACXM | $123.0M | 3.10% | — | — | 3.1% | ||
| BFH | $95.5M | 2.41% | $32.57 | $102.86 | +215.8% | 2.4% | |
| IRF | $74.5M | 1.88% | — | — | 1.9% | ||
| ZZ | $35.8M | 0.90% | $7.60 | — | 0.9% | ||
| GVHR | $28.5M | 0.72% | — | — | 0.7% | ||
| CIMXXXX | $13.5M | 0.34% | — | — | 0.3% |
Quarter-on-Quarter Activity
New Positions
None this quarter
Exited Positions
None this quarter
Increased
None this quarter
Trimmed
None this quarter
Quarter Activity
ValueAct Capital Management made no changes to its portfolio this quarter. There were no new positions, exits, or adjustments in the size of existing investments. The fund's activity remained static, maintaining its previous holdings without alteration.
AI Commentary
<p>ValueAct Capital Management's portfolio as of the end of March 2008 shows a clear focus on specific sectors and companies, with a total of $3.97 billion in assets under management spread across 16 positions. The top holdings include Reuters Group PLC (REUTERS GROUP PLC) with an investment worth $629 million, representing 15.8% of the portfolio, followed closely by Sara Lee Corp (SLE) at $615 million or 15.5%, and MDS Inc (MDZ) at $450 million or 11.3%. Notably, the fund has significant investments in the financial information sector, consumer goods, and healthcare, indicating a strategic concentration in these areas.</p> <p>The fund's activity in the first quarter of 2008 shows a static strategy with no new positions opened, closed, or adjusted. This lack of movement could suggest a strong conviction in their current holdings or a wait-and-see approach in response to market conditions at the time. The absence of changes in their portfolio might signal a satisfaction with the existing investment thesis or perhaps a cautious stance towards the prevailing economic environment during that period.</p>