ValueAct Capital, a San Francisco-based investment management firm with about $10 billion in assets under management, made significant changes to its portfolio in the fourth quarter, dramatically increasing its stakes in fintech companies while trimming positions in media and enterprise services, according to its latest 13F filing.
The most notable move was ValueAct’s aggressive expansion of its Rocket Companies (RKT) position, adding nearly 14M shares to bring its total holdings to 39,380,652 shares. The firm also substantially increased its bet on restaurant technology platform Toast (TOST), boosting its stake by 4,618,077 shares to reach 8,015,277 shares.
Additionally, ValueAct added 1,692,600 shares of gaming platform Roblox (RBLX), bringing that position to 5,975,821 shares. The quarter also saw ValueAct establish new positions in BlackRock (BLK) with 695,000 shares and Liberty Live Holdings (LLYVK) with 1,799,319 shares.
On the other side of the ledger, ValueAct made significant cuts to several holdings. The firm reduced its Disney (DIS) stake by 1,314,000 shares, leaving it with 3,077,931 shares.
Insight Enterprises (NSIT) saw one of the largest reductions, with ValueAct trimming more than 1M shares to bring its position down to 1,216,592 shares. The firm also reduced its MongoDB (MDB) holdings by 711,400 shares to 1,406,800 shares and completely exited its position in Mr. Cooper Group, which had stood at 904,800 shares in Q3.
ValueAct made more modest adjustments elsewhere in its portfolio, adding 96,000 shares of Salesforce (CRM), 264,200 shares of Simpson Manufacturing (SSD), 182,200 shares of Live Nation Entertainment (LYV), 279,300 shares of Meta Platforms (META), and 152,400 shares of Visa (V).
The firm slightly trimmed its Amazon (AMZN) position by 106,200 shares while keeping its CBRE Group (CBRE) stake unchanged at 234,591 shares.