PaperPanda Fund Terminal
ValueAct Capital
ValueAct Holdings, L.P. · CIK: 1418814 · Report Period: 2025-12-31 · Filed: 2026-02-17
Portfolio Concentration
Top 10 holdings by weight — hover for cross-investor insights
Loading chart data...
Holdings
Total: $7,025,028,860 · 16 positions
| # | Ticker | Issuer | Class | % of Portfolio | Value ($) | Shares | Activity | Share Change |
|---|---|---|---|---|---|---|---|---|
| 1 |
 CRM
|
SALESFORCE INC | COM | 11.3% | $793,275,379 | 2,994,509 | ADD | +96,000 |
| 2 |
 AMZN
|
AMAZON COM INC | COM | 11.2% | $783,472,326 | 3,394,300 | REDUCE | -106,200 |
| 3 |
 RKT
|
ROCKET COS INC | COM | 10.8% | $762,409,423 | 39,380,652 | ADD | +13,985,025 |
| 4 |
 BLK
|
BLACKROCK INC | COM | 10.6% | $743,886,300 | 695,000 | NEW BUY | +695,000 |
| 5 |
 META
|
META PLATFORMS INC | COM | 9.8% | $691,757,158 | 1,047,974 | ADD | +279,300 |
| 6 |
 V
|
VISA INC | COM | 8.6% | $602,607,458 | 1,718,250 | ADD | +152,400 |
| 7 |
 MDB
|
MONGODB INC | COM | 8.4% | $590,419,892 | 1,406,800 | REDUCE | -711,400 |
| 8 |
 RBLX
|
ROBLOX CORP | COM | 6.9% | $484,220,776 | 5,975,821 | ADD | +1,692,600 |
| 9 |
 DIS
|
DISNEY WALT CO | COM | 5.0% | $350,176,210 | 3,077,931 | REDUCE | -1,314,000 |
| 10 |
 LLYVK
|
LIBERTY LIVE HOLDINGS INC | COM | 4.3% | $299,707,642 | 3,603,988 | NEW BUY | +3,603,988 |
| 11 |
 TOST
|
TOAST INC | COM | 4.0% | $284,622,486 | 8,015,277 | ADD | +4,618,077 |
| 12 |
 SSD
|
SIMPSON MFG INC | COM | 3.4% | $237,706,769 | 1,472,142 | ADD | +264,200 |
| 13 |
 LLYVA
|
LIBERTY LIVE HOLDINGS INC | COM | 2.1% | $146,644,499 | 1,799,319 | NEW BUY | +1,799,319 |
| 14 |
 LYV
|
LIVE NATION ENTERTAINMENT IN | COM | 1.7% | $117,286,905 | 823,066 | ADD | +182,200 |
| 15 |
 NSIT
|
INSIGHT ENTERPRISES INC | COM | 1.4% | $99,115,750 | 1,216,592 | REDUCE | -1,055,147 |
| 16 |
 CBRE
|
CBRE GROUP INC | COM | 0.5% | $37,719,887 | 234,591 | - | - |
Position Changes
8 quarters available
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | AMZN | AMAZON COM INC | REDUCE | -106,200 | -3.0% | 3,394,300 | $783,472,326 |
| 2 | LYV | LIVE NATION ENTERTAINMENT IN | ADD | +182,200 | +28.4% | 823,066 | $117,286,905 |
| 3 | DIS | DISNEY WALT CO | REDUCE | -1,314,000 | -29.9% | 3,077,931 | $350,176,210 |
| 4 | - | LIBERTY MEDIA CORP DEL | SOLD | -3,515,888 | Exit | - | - |
| 5 | - | LIBERTY MEDIA CORP DEL | SOLD | -1,719,548 | Exit | - | - |
| 6 | RKT | ROCKET COS INC | ADD | +13,985,025 | +55.1% | 39,380,652 | $762,409,423 |
| 7 | META | META PLATFORMS INC | ADD | +279,300 | +36.3% | 1,047,974 | $691,757,158 |
| 8 | RBLX | ROBLOX CORP | ADD | +1,692,600 | +39.5% | 5,975,821 | $484,220,776 |
| 9 | BLK | BLACKROCK INC | NEW BUY | +695,000 | New | 695,000 | $743,886,300 |
| 10 | SSD | SIMPSON MFG INC | ADD | +264,200 | +21.9% | 1,472,142 | $237,706,769 |
| 11 | LLYVA | LIBERTY LIVE HOLDINGS INC | NEW BUY | +1,799,319 | New | 1,799,319 | $146,644,499 |
| 12 | - | MR COOPER GROUP INC | SOLD | -904,800 | Exit | - | - |
| 13 | CRM | SALESFORCE INC | ADD | +96,000 | +3.3% | 2,994,509 | $793,275,379 |
| 14 | MDB | MONGODB INC | REDUCE | -711,400 | -33.6% | 1,406,800 | $590,419,892 |
| 15 | LLYVK | LIBERTY LIVE HOLDINGS INC | NEW BUY | +3,603,988 | New | 3,603,988 | $299,707,642 |
| 16 | NSIT | INSIGHT ENTERPRISES INC | REDUCE | -1,055,147 | -46.4% | 1,216,592 | $99,115,750 |
| 17 | TOST | TOAST INC | ADD | +4,618,077 | +135.9% | 8,015,277 | $284,622,486 |
| 18 | V | VISA INC | ADD | +152,400 | +9.7% | 1,718,250 | $602,607,458 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | CBRE | CBRE GROUP INC | REDUCE | -354,800 | -60.2% | 234,591 | $36,962,158 |
| 2 | AMZN | AMAZON COM INC | REDUCE | -372,000 | -9.6% | 3,500,500 | $768,604,785 |
| 3 | LYV | LIVE NATION ENTERTAINMENT IN | REDUCE | -244,400 | -27.6% | 640,866 | $104,717,504 |
| 4 | DIS | DISNEY WALT CO | REDUCE | -695,700 | -13.7% | 4,391,931 | $502,876,100 |
| 5 | - | LIBERTY MEDIA CORP DEL | REDUCE | -476,000 | -11.9% | 3,515,888 | $340,935,659 |
| 6 | - | EXPEDIA GROUP INC | SOLD | -278,356 | Exit | - | - |
| 7 | - | LIBERTY MEDIA CORP DEL | REDUCE | -53,600 | -3.0% | 1,719,548 | $162,153,376 |
| 8 | - | REDFIN CORP | SOLD | -5,805,600 | Exit | - | - |
| 9 | RKT | ROCKET COS INC | ADD | +10,270,018 | +67.9% | 25,395,627 | $492,167,251 |
| 10 | META | META PLATFORMS INC | ADD | +145,300 | +23.3% | 768,674 | $564,498,812 |
| 11 | RBLX | ROBLOX CORP | REDUCE | -448,800 | -9.5% | 4,283,221 | $593,311,773 |
| 12 | SSD | SIMPSON MFG INC | REDUCE | -198,163 | -14.1% | 1,207,942 | $202,281,967 |
| 13 | - | CCC INTELLIGENT SOLUTIONS HL | SOLD | -2,881,800 | Exit | - | - |
| 14 | MDB | MONGODB INC | ADD | +1,427,700 | +206.8% | 2,118,200 | $367,192,777 |
| 15 | NSIT | INSIGHT ENTERPRISES INC | REDUCE | -590,000 | -20.6% | 2,271,739 | $257,637,920 |
| 16 | TOST | TOAST INC | NEW BUY | +3,397,200 | New | 3,397,200 | $124,031,772 |
| 17 | V | VISA INC | ADD | +320,900 | +25.8% | 1,565,850 | $534,549,873 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | CBRE | CBRE GROUP INC | NEW BUY | +589,391 | New | 589,391 | $82,585,467 |
| 2 | - | NU HLDGS LTD | SOLD | -3,416,200 | Exit | - | - |
| 3 | AMZN | AMAZON COM INC | ADD | +3,309,400 | +587.7% | 3,872,500 | $849,587,775 |
| 4 | DIS | DISNEY WALT CO | REDUCE | -1,478,400 | -22.5% | 5,087,631 | $630,917,120 |
| 5 | - | LIBERTY MEDIA CORP DEL | ADD | +88,000 | +2.3% | 3,991,888 | $323,981,630 |
| 6 | - | LIBERTY MEDIA CORP DEL | ADD | +114,500 | +6.9% | 1,773,148 | $140,929,803 |
| 7 | - | REDFIN CORP | NEW BUY | +5,805,600 | New | 5,805,600 | $64,964,664 |
| 8 | RKT | ROCKET COS INC | ADD | +8,397,100 | +124.8% | 15,125,609 | $214,481,136 |
| 9 | META | META PLATFORMS INC | REDUCE | -391,500 | -38.6% | 623,374 | $460,106,116 |
| 10 | RBLX | ROBLOX CORP | REDUCE | -4,032,900 | -46.0% | 4,732,021 | $497,808,609 |
| 11 | SSD | SIMPSON MFG INC | NEW BUY | +1,406,105 | New | 1,406,105 | $218,382,168 |
| 12 | V | VISA INC | REDUCE | -68,000 | -5.2% | 1,244,950 | $442,019,498 |
| 13 | - | MR COOPER GROUP INC | NEW BUY | +904,800 | New | 904,800 | $135,005,208 |
| 14 | - | CCC INTELLIGENT SOLUTIONS HL | NEW BUY | +2,881,800 | New | 2,881,800 | $27,117,738 |
| 15 | MDB | MONGODB INC | NEW BUY | +690,500 | New | 690,500 | $144,998,095 |
| 16 | NSIT | INSIGHT ENTERPRISES INC | REDUCE | -1,200,000 | -29.5% | 2,861,739 | $395,163,230 |
| 17 | TOST | TOAST INC | SOLD | -2,597,200 | Exit | - | - |
| 18 | - | EXPEDIA GROUP INC | REDUCE | -838,800 | -75.1% | 278,356 | $46,953,090 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | NU HLDGS LTD | NEW BUY | +3,416,200 | New | 3,416,200 | $34,981,888 |
| 2 | LYV | LIVE NATION ENTERTAINMENT IN | REDUCE | -176,200 | -16.6% | 885,266 | $115,598,034 |
| 3 | AMZN | AMAZON COM INC | ADD | +26,200 | +4.9% | 563,100 | $107,135,406 |
| 4 | - | LIBERTY MEDIA CORP DEL | ADD | +735,100 | +23.2% | 3,903,888 | $266,010,928 |
| 5 | - | LIBERTY MEDIA CORP DEL | ADD | +390,200 | +30.8% | 1,658,648 | $111,527,492 |
| 6 | RKT | ROCKET COS INC | NEW BUY | +6,728,509 | New | 6,728,509 | $81,213,104 |
| 7 | META | META PLATFORMS INC | ADD | +803,374 | +379.8% | 1,014,874 | $584,932,779 |
| 8 | RBLX | ROBLOX CORP | REDUCE | -1,371,000 | -13.5% | 8,764,921 | $510,907,245 |
| 9 | V | VISA INC | ADD | +939,350 | +251.4% | 1,312,950 | $460,136,457 |
| 10 | TOST | TOAST INC | REDUCE | -5,951,400 | -69.6% | 2,597,200 | $86,149,124 |
| 11 | - | EXPEDIA GROUP INC | REDUCE | -900,250 | -44.6% | 1,117,156 | $187,793,924 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | LYV | LIVE NATION ENTERTAINMENT INC | ADD | +46,816 | +4.6% | 1,061,466 | $137,459,847 |
| 2 | AMZN | AMAZON COM INC | NEW BUY | +536,900 | New | 536,900 | $117,790,491 |
| 3 | DIS | DISNEY WALT CO | REDUCE | -898,800 | -12.0% | 6,566,031 | $731,127,552 |
| 4 | - | LIBERTY MEDIA CORP DEL | ADD | +1,831,288 | +136.9% | 3,168,788 | $215,667,711 |
| 5 | - | EXPEDIA GROUP INC | REDUCE | -590,200 | -22.6% | 2,017,406 | $375,903,260 |
| 6 | - | LIBERTY MEDIA CORP DEL | ADD | +596,648 | +88.8% | 1,268,448 | $84,427,899 |
| 7 | CRM | SALESFORCE INC | REDUCE | -1,015,800 | -26.0% | 2,898,509 | $969,058,514 |
| 8 | TOST | TOAST INC | NEW BUY | +8,548,600 | New | 8,548,600 | $311,596,470 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | LYV | LIVE NATION ENTERTAINMENT IN | NEW BUY | +1,014,650 | New | 1,014,650 | $111,094,029 |
| 2 | DIS | DISNEY WALT CO | ADD | +1,331,200 | +21.7% | 7,464,831 | $718,042,094 |
| 3 | - | LIBERTY MEDIA CORP DEL | NEW BUY | +1,337,500 | New | 1,337,500 | $68,653,875 |
| 4 | - | EXPEDIA GROUP INC | REDUCE | -806,962 | -23.6% | 2,607,606 | $385,977,840 |
| 5 | - | LIBERTY MEDIA CORP DEL | NEW BUY | +671,800 | New | 671,800 | $33,260,818 |
| 6 | - | FISERV INC | SOLD | -1,103,759 | Exit | - | - |
| 7 | - | NEW YORK TIMES CO | SOLD | -1,344,392 | Exit | - | - |
| 8 | META | META PLATFORMS INC | NEW BUY | +211,500 | New | 211,500 | $121,071,060 |
| 9 | RBLX | ROBLOX CORP | ADD | +7,835,921 | +340.7% | 10,135,921 | $448,615,863 |
| 10 | - | FLUTTER ENTMT PLC | SOLD | -323,235 | Exit | - | - |
| 11 | - | KKR & CO INC | SOLD | -1,207,208 | Exit | - | - |
| 12 | - | SPOTIFY TECHNOLOGY S A | SOLD | -676,553 | Exit | - | - |
| 13 | V | VISA | NEW BUY | +373,600 | New | 373,600 | $102,721,320 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | CBRE | CBRE GROUP INC | SOLD | -2,470,748 | Exit | - | - |
| 2 | DIS | DISNEY WALT CO | ADD | +715,000 | +13.2% | 6,133,631 | $609,008,222 |
| 3 | - | ILLUMINA INC | SOLD | -243,777 | Exit | - | - |
| 4 | - | FISERV INC | REDUCE | -2,551,882 | -69.8% | 1,103,759 | $164,504,241 |
| 5 | - | NEW YORK TIMES CO | REDUCE | -750,000 | -35.8% | 1,344,392 | $68,846,314 |
| 6 | - | FLUTTER ENTMT PLC | REDUCE | -171,900 | -34.7% | 323,235 | $46,755,943 |
| 7 | - | KKR & CO INC | REDUCE | -697,600 | -36.6% | 1,207,208 | $127,046,570 |
| 8 | CRM | SALESFORCE INC | ADD | +428,000 | +12.3% | 3,914,309 | $1,006,368,844 |
| 9 | - | SPOTIFY TECHNOLOGY S A | REDUCE | -144,000 | -17.5% | 676,553 | $212,295,566 |
| 10 | NSIT | INSIGHT ENTERPRISES INC | REDUCE | -450,000 | -10.0% | 4,061,739 | $805,686,548 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | CBRE | CBRE GROUP INC | REDUCE | -2,167,000 | -46.7% | 2,470,748 | $240,255,536 |
| 2 | - | DANAHER CORPORATION | SOLD | -200,000 | Exit | - | - |
| 3 | DIS | DISNEY WALT CO | ADD | +332,300 | +6.5% | 5,418,631 | $663,023,689 |
| 4 | - | ILLUMINA INC | REDUCE | -84,268 | -25.7% | 243,777 | $33,475,458 |
| 5 | - | FISERV INC | REDUCE | -533,200 | -12.7% | 3,655,641 | $584,244,545 |
| 6 | - | NEW YORK TIMES CO | REDUCE | -1,532,340 | -42.3% | 2,094,392 | $90,519,622 |
| 7 | - | SEAGATE TECHNOLOGY HLDNGS PL | SOLD | -262,348 | Exit | - | - |
| 8 | RBLX | ROBLOX CORP | ADD | +500,000 | +27.8% | 2,300,000 | $87,814,000 |
| 9 | - | FLUTTER ENTMT PLC | NEW BUY | +495,135 | New | 495,135 | $78,181,817 |
| 10 | - | KKR & CO INC | REDUCE | -4,049,300 | -68.0% | 1,904,808 | $191,585,588 |
| 11 | - | SPOTIFY TECHNOLOGY S A | REDUCE | -207,000 | -20.1% | 820,553 | $216,543,937 |
| 12 | NSIT | INSIGHT ENTERPRISES INC | ADD | +109 | +0.0% | 4,511,739 | $837,017,819 |
| 13 | - | PAYCOM SOFTWARE INC | SOLD | -608,000 | Exit | - | - |
| 14 | - | EXPEDIA GROUP INC | REDUCE | -837,000 | -19.7% | 3,414,568 | $470,356,742 |
Loading deployment data...