What ValueAct Holdings LP changed, 2013 to 2026
53 quarterly 13F filings, from Q2 2013 to Q2 2026, each read from the filing itself. A quarter is compared only with the quarter before it, so a quarter with no filing is a gap in the record, not a sale.
Reported book
$5.6bn
$9.7bn at Q2 2013
Positions
18
14 at Q2 2013
Top ten weight
87%
98% at Q2 2013
Typical quarterly turnover
about 6%
Estimated from share changes
- Q2 2013: $9.7bn
- Q3 2013: $11.1bn
- Q4 2013: $12.1bn
- Q1 2014: $13.2bn
- Q2 2014: $13.5bn
- Q3 2014: $14.9bn
- Q4 2014: $16.0bn
- Q1 2015: $18.1bn
- Q2 2015: $19.0bn
- Q3 2015: $17.2bn
- Q4 2015: $14.4bn
- Q1 2016: $10.0bn
- Q2 2016: $11.0bn
- Q3 2016: $11.5bn
- Q4 2016: $12.2bn
- Q1 2017: $11.9bn
- Q2 2017: $11.2bn
- Q3 2017: $10.0bn
- Q4 2017: $9.9bn
- Q1 2018: $10.0bn
- Q2 2018: $11.0bn
- Q3 2018: $10.2bn
- Q4 2018: $8.0bn
- Q1 2019: $9.1bn
- Q2 2019: $9.6bn
- Q3 2019: $9.3bn
- Q4 2019: $9.9bn
- Q1 2020: $7.0bn
- Q2 2020: $8.7bn
- Q3 2020: $7.1bn
- Q4 2020: $8.6bn
- Q1 2021: $8.6bn
- Q2 2021: $9.0bn
- Q3 2021: $8.6bn
- Q4 2021: $8.9bn
- Q1 2022: $7.3bn
- Q2 2022: $6.3bn
- Q3 2022: $5.9bn
- Q4 2022: $5.3bn
- Q1 2023: $6.1bn
- Q2 2023: $6.4bn
- Q3 2023: $4.5bn
- Q4 2023: $5.0bn
- Q1 2024: $4.5bn
- Q2 2024: $3.6bn
- Q3 2024: $4.4bn
- Q4 2024: $4.4bn
- Q1 2025: $4.6bn
- Q2 2025: $5.6bn
- Q3 2025: $5.9bn
- Q4 2025: $7.0bn
- Q1 2026: $5.7bn
- Q2 2026: $5.6bn
- Q2 2013: 98%
- Q3 2013: 98%
- Q4 2013: 99%
- Q1 2014: 97%
- Q2 2014: 98%
- Q3 2014: 93%
- Q4 2014: 88%
- Q1 2015: 89%
- Q2 2015: 87%
- Q3 2015: 87%
- Q4 2015: 90%
- Q1 2016: 96%
- Q2 2016: 97%
- Q3 2016: 93%
- Q4 2016: 94%
- Q1 2017: 93%
- Q2 2017: 91%
- Q3 2017: 91%
- Q4 2017: 97%
- Q1 2018: 99%
- Q2 2018: 95%
- Q3 2018: 97%
- Q4 2018: 95%
- Q1 2019: 96%
- Q2 2019: 92%
- Q3 2019: 93%
- Q4 2019: 93%
- Q1 2020: 90%
- Q2 2020: 91%
- Q3 2020: 100%
- Q4 2020: 100%
- Q1 2021: 99%
- Q2 2021: 98%
- Q3 2021: 99%
- Q4 2021: 100%
- Q1 2022: 100%
- Q2 2022: 98%
- Q3 2022: 100%
- Q4 2022: 100%
- Q1 2023: 100%
- Q2 2023: 100%
- Q3 2023: 99%
- Q4 2023: 96%
- Q1 2024: 98%
- Q2 2024: 100%
- Q3 2024: 99%
- Q4 2024: 95%
- Q1 2025: 93%
- Q2 2025: 86%
- Q3 2025: 86%
- Q4 2025: 87%
- Q1 2026: 81%
- Q2 2026: 87%
The positions that defined it
Every position that was ever among the 25 largest: when it first appeared, when it was largest, and where it stands in Q2 2026. The line is its reported value each quarter.
| Position | Value over time | First listed | Largest | Q2 2026 |
|---|---|---|---|---|
| Visa(V)Common Class A | Q3 2024 | $795mQ2 2026 | $795m | |
| Amazon Com Inc(AMZN) | Q4 2024 | $850mQ2 2025 | $701m | |
| Rocket Cos Inc(RKT)Common Class A | Q2 2022 | $762mQ4 2025 | $656m | |
| Blackrock Inc(BLK) | Q4 2025 | $744mQ4 2025 | $559m | |
| Meta Platforms Inc(META)Class A | Q3 2024 | $692mQ4 2025 | $516m | |
| Salesforce Inc(CRM) | Q4 2022 | $1.1bnQ3 2024 | $469m | |
| Toast Inc(TOST)Class A | Q3 2024 | $438mQ3 2024 | $393m | |
| KKR & Co LP(KKR) | Q2 2020 | $1.6bnQ4 2021 | $327m | |
| Spotify Technology S A(SPOT) | Q1 2023 | $301mQ1 2023 | $242m | |
| Liberty Live Holdings Inc(LLYVK)Common Shares Series C | Q4 2025 | $335mQ1 2026 | $229m | |
| Simpson MFG Inc(SSD) | Q2 2025 | $240mQ1 2026 | $174m | |
| Roblox Corp(RBLX)Class A | Q3 2023 | $593mQ3 2025 | $171m | |
| Valeant Pharmaceuticals Inte | Q2 2013 | $3.9bnQ1 2015 | Soldlast listed Q2 2018 | |
| Microsoft Corp(MSFT) | Q2 2013 | $3.4bnQ4 2014 | Soldlast listed Q4 2017 | |
| Citigroup(C) | Q4 2017 | $2.2bnQ2 2019 | Soldlast listed Q3 2022 | |
| Motorola Solutions, Inc(MSI) | Q2 2013 | $2.0bnQ4 2013 | Soldlast listed Q1 2016 | |
| Twenty-first Century FoxClass B | Q2 2014 | $1.9bnQ1 2018 | Soldlast listed Q2 2018 | |
| Baker Hughes Inc | Q4 2014 | $1.9bnQ1 2017 | Soldlast listed Q2 2017 | |
| Seagate Technology PLC | Q2 2016 | $1.9bnQ4 2019 | Soldlast listed Q1 2021 | |
| Adobe Systems Inc(ADBE) | Q2 2013 | $1.8bnQ2 2014 | Soldlast listed Q1 2016 |
Quarter by quarter
Q2 2020: $8.7bn across 21 positions
Against Q1 2020: 2 new, 3 added to, 2 trimmed, 4 sold out, across all 21 positions.
Turnover about 4% of the book, estimated from share changes at quarter-end prices.
Largest additions
- Enviva Partners LP+$107m
- Cbre Group Inc (CBRE)+$77m
- Aes Corp (AES)+$18m
Largest reductions
- Bp plc (BP)-$7.6m
- Strategic Ed Inc (STRA)$21k
Opened
- KKR & Co LP (KKR)$1.4bn
- Nikola Corp$788m
Sold out
- Stars Group Incwas $278m
- Outfront Media Incwas $46m
- Comcast Corp New (CMCSA)was $11m
- HD Supply HLDGS Incwas $711k
Largest positions, Q2 2020
| Position | Value | Weight | On the quarter |
|---|---|---|---|
| Seagate Technology PLC | $1.5bn | 17.5% | Held |
| KKR & Co LP (KKR) | $1.4bn | 15.9% | New |
| Citigroup (C) | $1.4bn | 15.8% | Held |
| Nikola Corp | $788m | 9.0% | New |
| Morgan Stanley (MS) | $688m | 7.9% | Held |
| Trinity Industries Inc (TRN) | $575m | 6.6% | Held |
| LKQ Corp (LKQ) | $565m | 6.5% | Held |
| Cbre Group Inc (CBRE) | $463m | 5.3% | Added |
| Bausch Health Cos Inc (BHC) | $328m | 3.8% | Held |
| SLM Corp (SLM) | $227m | 2.6% | Held |
| Enviva Partners LP | $174m | 2.0% | Added |
| Hawaiian Elec Industries (HE) | $117m | 1.3% | Held |
| Smith A O Corp (AOS) | $99m | 1.1% | Held |
| Strategic Ed Inc (STRA) | $91m | 1.0% | Trimmed |
| Aes Corp (AES) | $77m | 0.9% | Added |
| Darling Ingredients Inc (DAR) | $65m | 0.7% | Held |
| Verra Mobility Corp (VRRM) | $61m | 0.7% | Held |
| Bp plc (BP) | $60m | 0.7% | Trimmed |
| Lindblad Expeditions Holdings Inc (LIND) | $38m | 0.4% | Held |
| Unifi, Inc. (UFI) | $18m | 0.2% | Held |
| Armstrong Flooring Inc | $3.7m | 0.0% | Held |
The books most like this one
Among the managers whose filings are on file, at Q2 2026. Overlap is the share of the two books that is the same: for every stock both list, the smaller of its two weights, added up. Two books can overlap because both own the largest companies; it says nothing about whether the managers agree.
| Manager | Overlap | Stocks in both | Overlap over time | |
|---|---|---|---|---|
| Pershing Square Capital Management LP | 25% | 3 | Compare | |
| Egerton Capital UK LLP | 22% | 2 | Compare | |
| Tiger Global Management LLC | 20% | 4 | Compare | |
| Appaloosa LP | 17% | 2 | Compare | |
| Baupost Group LLC | 17% | 2 | Compare | |
| Akre Capital Management LLC | 15% | 3 | Compare | |
| TCI Fund Management Ltd | 14% | 1 | Compare | |
| Altimeter Capital Management LP | 14% | 2 | Compare |
The filings behind it
Every quarter above is one 13F holdings report, with any amendment the filer made to it applied in the order it was filed. Where the reporting entity changed, each quarter keeps the filer that actually reported it.
| Quarter | Filer | Book | Amended | Filing |
|---|---|---|---|---|
| Q2 2026 | ValueAct Holdings LP | $5.6bn | 13F-HR | |
| Q1 2026 | ValueAct Holdings LP | $5.7bn | 13F-HR | |
| Q4 2025 | ValueAct Holdings LP | $7.0bn | 13F-HR | |
| Q3 2025 | ValueAct Holdings LP | $5.9bn | 13F-HR | |
| Q2 2025 | ValueAct Holdings LP | $5.6bn | 13F-HR | |
| Q1 2025 | ValueAct Holdings LP | $4.6bn | 13F-HR | |
| Q4 2024 | ValueAct Holdings LP | $4.4bn | 13F-HR | |
| Q3 2024 | ValueAct Holdings LP | $4.4bn | 1 | 13F-HR |
| Q2 2024 | ValueAct Holdings LP | $3.6bn | 13F-HR | |
| Q1 2024 | ValueAct Holdings LP | $4.5bn | 13F-HR | |
| Q4 2023 | ValueAct Holdings LP | $5.0bn | 13F-HR | |
| Q3 2023 | ValueAct Holdings LP | $4.5bn | 13F-HR | |
| Q2 2023 | ValueAct Holdings LP | $6.4bn | 13F-HR | |
| Q1 2023 | ValueAct Holdings LP | $6.1bn | 13F-HR | |
| Q4 2022 | ValueAct Holdings LP | $5.3bn | 13F-HR | |
| Q3 2022 | ValueAct Holdings LP | $5.9bn | 13F-HR | |
| Q2 2022 | ValueAct Holdings LP | $6.3bn | 13F-HR | |
| Q1 2022 | ValueAct Holdings LP | $7.3bn | 13F-HR | |
| Q4 2021 | ValueAct Holdings LP | $8.9bn | 13F-HR | |
| Q3 2021 | ValueAct Holdings LP | $8.6bn | 13F-HR | |
| Q2 2021 | ValueAct Holdings LP | $9.0bn | 1 | 13F-HR |
| Q1 2021 | ValueAct Holdings LP | $8.6bn | 13F-HR | |
| Q4 2020 | ValueAct Holdings LP | $8.6bn | 13F-HR | |
| Q3 2020 | ValueAct Holdings LP | $7.1bn | 13F-HR | |
| Q2 2020 | ValueAct Holdings LP | $8.7bn | 13F-HR | |
| Q1 2020 | ValueAct Holdings LP | $7.0bn | 13F-HR | |
| Q4 2019 | ValueAct Holdings LP | $9.9bn | 13F-HR | |
| Q3 2019 | ValueAct Holdings LP | $9.3bn | 13F-HR | |
| Q2 2019 | ValueAct Holdings LP | $9.6bn | 13F-HR | |
| Q1 2019 | ValueAct Holdings LP | $9.1bn | 13F-HR | |
| Q4 2018 | ValueAct Holdings LP | $8.0bn | 13F-HR | |
| Q3 2018 | ValueAct Holdings LP | $10.2bn | 13F-HR | |
| Q2 2018 | ValueAct Holdings LP | $11.0bn | 13F-HR | |
| Q1 2018 | ValueAct Holdings LP | $10.0bn | 13F-HR | |
| Q4 2017 | ValueAct Holdings LP | $9.9bn | 13F-HR | |
| Q3 2017 | ValueAct Holdings LP | $10.0bn | 13F-HR | |
| Q2 2017 | ValueAct Holdings LP | $11.2bn | 13F-HR | |
| Q1 2017 | ValueAct Holdings LP | $11.9bn | 13F-HR | |
| Q4 2016 | ValueAct Holdings LP | $12.2bn | 13F-HR | |
| Q3 2016 | ValueAct Holdings LP | $11.5bn | 13F-HR | |
| Q2 2016 | ValueAct Holdings LP | $11.0bn | 13F-HR | |
| Q1 2016 | ValueAct Holdings LP | $10.0bn | 13F-HR | |
| Q4 2015 | ValueAct Holdings LP | $14.4bn | 13F-HR | |
| Q3 2015 | ValueAct Holdings LP | $17.2bn | 13F-HR | |
| Q2 2015 | ValueAct Holdings LP | $19.0bn | 13F-HR | |
| Q1 2015 | ValueAct Holdings LP | $18.1bn | 13F-HR | |
| Q4 2014 | ValueAct Holdings LP | $16.0bn | 13F-HR | |
| Q3 2014 | ValueAct Holdings LP | $14.9bn | 13F-HR | |
| Q2 2014 | ValueAct Holdings LP | $13.5bn | 13F-HR | |
| Q1 2014 | ValueAct Holdings LP | $13.2bn | 13F-HR | |
| Q4 2013 | ValueAct Holdings LP | $12.1bn | 13F-HR | |
| Q3 2013 | ValueAct Holdings LP | $11.1bn | 13F-HR | |
| Q2 2013 | ValueAct Holdings LP | $9.7bn | 13F-HR |
Reading this record
A 13F lists US-listed long equity and options at the quarter end, filed up to 45 days later. It shows what was held, not when it was bought or at what price, and nothing short. Where a quarter lists only the largest positions, a name missing from it may still be held below that range; the counts of what was opened and sold always cover the whole filing.
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