ValueAct Capital

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Mason Morfit's ValueAct Capital reported 12 stock positions worth $4.4 billion. Its top holding was Salesforce (CRM) at 22.1% of the portfolio, followed by Walt Disney (DIS, 16.7%) and Insight Enterprises (NSIT, 14.1%). Compared with Q3 2024, it opened 1 new position, added to 3 and reduced 4. The biggest buy was Liberty Media Corp.-Liberty-C (LLYVK, shares +137%) and the biggest sale Toast Class A (TOST, shares −45%).

Most Recent 13F
Q2 2026
Notable People
Mason Morfit
Location
SAN FRANCISCO, CA
CIK
0001418814
Portfolio Value
$4.4B (Q4 2024)
SEC Filing
0001418812-25-000004 ↗ filed Feb 14, 2025

Holdings Value

0$2.0B$4.0B$6.0B$8.0B Q1 2024: $4.5B Q1 2024 Q2 2024: $3.6B Q2 2024 Q3 2024: $4.4B Q3 2024 Q4 2024: $4.4B $4.4B Q4 2024 Q1 2025: $4.6B Q1 2025 Q2 2025: $5.6B Q2 2025 Q3 2025: $5.9B Q3 2025 Q4 2025: $7.0B Q4 2025 Q1 2026: $5.7B Q1 2026 Q2 2026: $5.6B Q2 2026

Holdings 12 stocks · $4.4B
CRM Salesforce Inc. 22.08% 2,898,509 $969.1M Reduce -25.9%
DIS The Walt Disney Co. filed as DISNEY WALT CO 16.66% 6,566,031 $731.1M Reduce -12.0%
NSIT Insight Enterprises Inc. 14.08% 4,061,739 $617.8M No change
RBLX Roblox Corp. Class A 13.36% 10,135,921 $586.5M No change
EXPE Expedia Group Inc. 8.56% 2,017,406 $375.9M Reduce -22.6%
TOST Toast Inc. Class A 7.10% 8,548,600 $311.6M Reduce -44.8%
LLYVK Liberty Media Corp.-Liberty-C 4.91% 3,168,788 $215.7M Add +136.9%
LYV Live Nation Entertainment Inc. 3.13% 1,061,466 $137.5M Add +4.6%
META Meta Platforms Inc. Class A 2.82% 211,500 $123.8M No change
V Visa Inc. Class A 2.69% 373,600 $118.1M No change
AMZN Amazon.com Inc. 2.68% 536,900 $117.8M New
LLYVA Liberty Media Corp.-Liberty-A 1.92% 1,268,448 $84.4M Add +88.8%

Portfolio Sells Q3 2024 → Q4 2024
TOST Toast Inc. Class A Reduce -44.8% 7.10% −2.92
CRM Salesforce Inc. Reduce -25.9% 22.08% −2.42
EXPE Expedia Group Inc. Reduce -22.6% 8.56% −0.26
DIS The Walt Disney Co. Reduce -12.0% 16.66% +0.24

Portfolio Buys Q3 2024 → Q4 2024
LLYVK Liberty Media Corp.-Liberty-C Add +136.9% 4.91% +3.34
AMZN Amazon.com Inc. New 2.68% +2.68
LLYVA Liberty Media Corp.-Liberty-A Add +88.8% 1.92% +1.16
LYV Live Nation Entertainment Inc. Add +4.6% 3.13% +0.59

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 18$5.6BV, AMZN, RKT, BLK, META
Q1 2026 18$5.7BV, AMZN, CRM, BLK, META
Q4 2025 16$7.0BCRM, AMZN, RKT, BLK, META
Q3 2025 16$5.9BAMZN, CRM, RBLX, META, V
Q2 2025 18$5.6BAMZN, CRM, DIS, RBLX, META
Q1 2025 14$4.6BCRM, DIS, NSIT, META, RBLX
Q4 2024 12$4.4BCRM, DIS, NSIT, RBLX, EXPE
Q3 2024Amended 11$4.4BCRM, NSIT, DIS, RBLX, TOST
Q2 2024 10$3.6BCRM, NSIT, DIS, EXPE, SPOT
Q1 2024 12$4.5BCRM, NSIT, DIS, FISV, EXPE