ValueAct Holdings portfolio holdings — 2025Q4

Holdings

Sorted by value · 2024Q3

Sector11 positions

CRMSALESFORCE COM INC

Technology·Software - Application

24.49%

of portfolio

Number of shares

3,914,309 sh

Holdings current value

$1.07B

Avg closing price

$198.63

-8.3%

Last action

Added 2.5%

2025Q4

Current $182.14

NSITINSIGHT ENTERPRISES INC

Technology·Electronics & Computer Distribution

20.00%

of portfolio

Number of shares

4,061,739 sh

Holdings current value

$874.86M

Avg closing price

$92.25

-17.2%

Last action

Trimmed 20.6%

2025Q4

Current $76.43

DISDISNEY WALT CO

Communication Services·Entertainment

16.42%

of portfolio

Number of shares

7,464,831 sh

Holdings current value

$718.04M

Avg closing price

$93.63

+13.5%

Last action

Trimmed 15.0%

2025Q4

Current $106.29

RBLXROBLOX CORP

Communication Services·Electronic Gaming & Multimedia

10.26%

of portfolio

Number of shares

10,135,921 sh

Holdings current value

$448.62M

Avg closing price

$52.51

+14.9%

Last action

Added 20.0%

2025Q4

Current $60.34

TOSTTOAST INC

Technology·Software - Infrastructure

10.02%

of portfolio

Number of shares

15,482,200 sh

Holdings current value

$438.30M

Avg closing price

$33.28

-12.6%

Last action

Added 42.5%

2025Q4

Current $29.08

EXPEEXPEDIA GROUP INC

Consumer Cyclical·Travel Services

8.82%

of portfolio

Number of shares

2,607,606 sh

Holdings current value

$385.98M

Avg closing price

$151.79

+75.1%

Last action

Exited

2025Q3

Current $265.84

METAMETA PLATFORMS INC

Communication Services·Internet Content & Information

2.77%

of portfolio

Number of shares

211,500 sh

Holdings current value

$121.07M

Avg closing price

$620.10

+11.0%

Last action

Added

2025Q4

Current $688.55

LYVLIVE NATION ENTERTAINMENT IN

Communication Services·Entertainment

2.54%

of portfolio

Number of shares

1,014,650 sh

Holdings current value

$111.09M

Avg closing price

$117.48

+33.3%

Last action

Added 21.9%

2025Q4

Current $156.56

VVISA INC

Financial Services·Credit Services

2.35%

of portfolio

Number of shares

373,600 sh

Holdings current value

$102.72M

Avg closing price

$333.22

-4.9%

Last action

Added 68.9%

2025Q4

Current $317.02

LLYVK*LIBERTY MEDIA CORP DELTRK

1.57%

of portfolio

Number of shares

1,337,500 sh

Holdings current value

$68.65M

Avg closing price

$62.76

Last action

Exited

2025Q4

Current —

LLYVA*LIBERTY MEDIA CORP DELTRK

0.76%

of portfolio

Number of shares

671,800 sh

Holdings current value

$33.26M

Avg closing price

$61.08

Last action

Exited

2025Q4

Current —

Portfolio heatmap

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

Sector exposure

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

Technology3 pos$2.38B55.8%
Communication Services4 pos$1.40B32.7%
Consumer Cyclical1 pos$386.0M9.0%
Financial Services1 pos$102.7M2.4%

(2.3% unclassified, excluded from %)

Holdings

Sorted by value · 2024Q3

Sector11 positions

CRMSALESFORCE COM INC

Technology·Software - Application

24.49%

of portfolio

Number of shares

3,914,309 sh

Holdings current value

$1.07B

Avg closing price

$198.63

-8.3%

Last action

Added 2.5%

2025Q4

Current $182.14

NSITINSIGHT ENTERPRISES INC

Technology·Electronics & Computer Distribution

20.00%

of portfolio

Number of shares

4,061,739 sh

Holdings current value

$874.86M

Avg closing price

$92.25

-17.2%

Last action

Trimmed 20.6%

2025Q4

Current $76.43

DISDISNEY WALT CO

Communication Services·Entertainment

16.42%

of portfolio

Number of shares

7,464,831 sh

Holdings current value

$718.04M

Avg closing price

$93.63

+13.5%

Last action

Trimmed 15.0%

2025Q4

Current $106.29

RBLXROBLOX CORP

Communication Services·Electronic Gaming & Multimedia

10.26%

of portfolio

Number of shares

10,135,921 sh

Holdings current value

$448.62M

Avg closing price

$52.51

+14.9%

Last action

Added 20.0%

2025Q4

Current $60.34

TOSTTOAST INC

Technology·Software - Infrastructure

10.02%

of portfolio

Number of shares

15,482,200 sh

Holdings current value

$438.30M

Avg closing price

$33.28

-12.6%

Last action

Added 42.5%

2025Q4

Current $29.08

EXPEEXPEDIA GROUP INC

Consumer Cyclical·Travel Services

8.82%

of portfolio

Number of shares

2,607,606 sh

Holdings current value

$385.98M

Avg closing price

$151.79

+75.1%

Last action

Exited

2025Q3

Current $265.84

METAMETA PLATFORMS INC

Communication Services·Internet Content & Information

2.77%

of portfolio

Number of shares

211,500 sh

Holdings current value

$121.07M

Avg closing price

$620.10

+11.0%

Last action

Added

2025Q4

Current $688.55

LYVLIVE NATION ENTERTAINMENT IN

Communication Services·Entertainment

2.54%

of portfolio

Number of shares

1,014,650 sh

Holdings current value

$111.09M

Avg closing price

$117.48

+33.3%

Last action

Added 21.9%

2025Q4

Current $156.56

VVISA INC

Financial Services·Credit Services

2.35%

of portfolio

Number of shares

373,600 sh

Holdings current value

$102.72M

Avg closing price

$333.22

-4.9%

Last action

Added 68.9%

2025Q4

Current $317.02

LLYVK*LIBERTY MEDIA CORP DELTRK

1.57%

of portfolio

Number of shares

1,337,500 sh

Holdings current value

$68.65M

Avg closing price

$62.76

Last action

Exited

2025Q4

Current —

LLYVA*LIBERTY MEDIA CORP DELTRK

0.76%

of portfolio

Number of shares

671,800 sh

Holdings current value

$33.26M

Avg closing price

$61.08

Last action

Exited

2025Q4

Current —

Portfolio heatmap

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

Sector exposure

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

Technology3 pos$2.38B55.8%
Communication Services4 pos$1.40B32.7%
Consumer Cyclical1 pos$386.0M9.0%
Financial Services1 pos$102.7M2.4%

(2.3% unclassified, excluded from %)