ValueAct Holdings portfolio holdings — 2025Q4

Holdings

Sorted by value · 2024Q2

Sector10 positions

CRMSALESFORCE COM INC

Technology·Software - Application

28.30%

of portfolio

Number of shares

3,914,309 sh

Holdings current value

$1.01B

Avg closing price

$198.63

-8.3%

Last action

Added 2.5%

2025Q4

Current $182.14

NSITINSIGHT ENTERPRISES INC

Technology·Electronics & Computer Distribution

22.66%

of portfolio

Number of shares

4,061,739 sh

Holdings current value

$805.69M

Avg closing price

$92.25

-17.2%

Last action

Trimmed 20.6%

2025Q4

Current $76.43

DISDISNEY WALT CO

Communication Services·Entertainment

17.12%

of portfolio

Number of shares

6,133,631 sh

Holdings current value

$609.01M

Avg closing price

$93.63

+13.5%

Last action

Trimmed 17.6%

2025Q4

Current $106.29

EXPEEXPEDIA GROUP INC

Consumer Cyclical·Travel Services

12.10%

of portfolio

Number of shares

3,414,568 sh

Holdings current value

$430.20M

Avg closing price

$151.79

+75.1%

Last action

Exited

2025Q3

Current $265.84

SPOTSPOTIFY TECHNOLOGY S A

Communication Services·Internet Content & Information

5.97%

of portfolio

Number of shares

676,553 sh

Holdings current value

$212.30M

Avg closing price

$133.62

+301.6%

Last action

Exited

2024Q3

Current $536.61

FISVFISERV INC

4.63%

of portfolio

Number of shares

1,103,759 sh

Holdings current value

$164.50M

Avg closing price

$105.59

-39.4%

Last action

Exited

2024Q3

Current $63.97

KKRKKR & CO INC

Financial Services·Asset Management

3.57%

of portfolio

Number of shares

1,207,208 sh

Holdings current value

$127.05M

Avg closing price

$28.58

+262.4%

Last action

Exited

2024Q3

Current $103.60

RBLXROBLOX CORP

Communication Services·Electronic Gaming & Multimedia

2.41%

of portfolio

Number of shares

2,300,000 sh

Holdings current value

$85.58M

Avg closing price

$52.51

+14.9%

Last action

Added 278.7%

2025Q4

Current $60.34

NYTNEW YORK TIMES CO

Communication Services·Publishing

1.94%

of portfolio

Number of shares

1,344,392 sh

Holdings current value

$68.85M

Avg closing price

$29.11

+173.0%

Last action

Exited

2024Q3

Current $79.48

G3643J108FLUTTER ENTMT PLC

1.31%

of portfolio

Number of shares

323,235 sh

Holdings current value

$46.76M

Avg closing price

$157.90

Last action

Exited

2024Q3

Current —

Portfolio heatmap

Box size = % of portfolio · color = return since filing

FLUTTER ENTMT PLC

1.31%

Sector exposure

Share of dollar value across the latest reported portfolio. Unclassified positions excluded.

Technology2 pos$1.81B54.2%
Communication Services4 pos$975.7M29.2%
Consumer Cyclical1 pos$430.2M12.9%
Financial Services1 pos$127.0M3.8%

(5.9% unclassified, excluded from %)

Holdings

Sorted by value · 2024Q2

Sector10 positions

CRMSALESFORCE COM INC

Technology·Software - Application

28.30%

of portfolio

Number of shares

3,914,309 sh

Holdings current value

$1.01B

Avg closing price

$198.63

-8.3%

Last action

Added 2.5%

2025Q4

Current $182.14

NSITINSIGHT ENTERPRISES INC

Technology·Electronics & Computer Distribution

22.66%

of portfolio

Number of shares

4,061,739 sh

Holdings current value

$805.69M

Avg closing price

$92.25

-17.2%

Last action

Trimmed 20.6%

2025Q4

Current $76.43

DISDISNEY WALT CO

Communication Services·Entertainment

17.12%

of portfolio

Number of shares

6,133,631 sh

Holdings current value

$609.01M

Avg closing price

$93.63

+13.5%

Last action

Trimmed 17.6%

2025Q4

Current $106.29

EXPEEXPEDIA GROUP INC

Consumer Cyclical·Travel Services

12.10%

of portfolio

Number of shares

3,414,568 sh

Holdings current value

$430.20M

Avg closing price

$151.79

+75.1%

Last action

Exited

2025Q3

Current $265.84

SPOTSPOTIFY TECHNOLOGY S A

Communication Services·Internet Content & Information

5.97%

of portfolio

Number of shares

676,553 sh

Holdings current value

$212.30M

Avg closing price

$133.62

+301.6%

Last action

Exited

2024Q3

Current $536.61

FISVFISERV INC

4.63%

of portfolio

Number of shares

1,103,759 sh

Holdings current value

$164.50M

Avg closing price

$105.59

-39.4%

Last action

Exited

2024Q3

Current $63.97

KKRKKR & CO INC

Financial Services·Asset Management

3.57%

of portfolio

Number of shares

1,207,208 sh

Holdings current value

$127.05M

Avg closing price

$28.58

+262.4%

Last action

Exited

2024Q3

Current $103.60

RBLXROBLOX CORP

Communication Services·Electronic Gaming & Multimedia

2.41%

of portfolio

Number of shares

2,300,000 sh

Holdings current value

$85.58M

Avg closing price

$52.51

+14.9%

Last action

Added 278.7%

2025Q4

Current $60.34

NYTNEW YORK TIMES CO

Communication Services·Publishing

1.94%

of portfolio

Number of shares

1,344,392 sh

Holdings current value

$68.85M

Avg closing price

$29.11

+173.0%

Last action

Exited

2024Q3

Current $79.48

G3643J108FLUTTER ENTMT PLC

1.31%

of portfolio

Number of shares

323,235 sh

Holdings current value

$46.76M

Avg closing price

$157.90

Last action

Exited

2024Q3

Current —

Portfolio heatmap

Box size = % of portfolio · color = return since filing

FLUTTER ENTMT PLC

1.31%

Sector exposure

Share of dollar value across the latest reported portfolio. Unclassified positions excluded.

Technology2 pos$1.81B54.2%
Communication Services4 pos$975.7M29.2%
Consumer Cyclical1 pos$430.2M12.9%
Financial Services1 pos$127.0M3.8%

(5.9% unclassified, excluded from %)