This article first appeared on GuruFocus.
ValueAct Capital (Trades, Portfolio) recently submitted its 13F filing for the fourth quarter of 2025, offering a glimpse into its strategic investment decisions during this period. With over two decades of experience, ValueAct Capital (Trades, Portfolio) has established itself as a formidable player in the investment landscape, having made more than 100 core investments and participated on 49 public company boards. The firm is known for its long-term investment philosophy, often holding positions for three to five years, and sometimes even a decade or more. ValueAct Capital (Trades, Portfolio) emphasizes the importance of integrity, industry understanding, and consideration of social, ethical, and environmental issues in its investment approach. The firm prides itself on fostering a culture of openness, shared learning, and collective success, both within its team and with its portfolio companies.
ValueAct Capital (Trades, Portfolio) added a total of one stock to its portfolio, with the most significant addition being BlackRock Inc. (NYSE:BLK). The firm acquired 695,000 shares of BlackRock, which now accounts for 10.59% of the portfolio, with a total value of $743.89 million.
ValueAct Capital (Trades, Portfolio) also increased its stakes in a total of 10 stocks. The most notable increase was in Rocket Companies Inc. (NYSE:RKT), with an additional 13,985,025 shares, bringing the total to 39,380,652 shares. This adjustment represents a significant 55.07% increase in share count, impacting the portfolio by 3.85%, with a total value of $762.41 million. The second largest increase was in Meta Platforms Inc. (NASDAQ:META), with an additional 279,300 shares, bringing the total to 1,047,974. This adjustment represents a 36.34% increase in share count, with a total value of $691.76 million.
ValueAct Capital (Trades, Portfolio) completely exited one holding in the fourth quarter of 2025: Mr. Cooper Group Inc. (COOP). The firm sold all 904,800 shares, resulting in a -3.22% impact on the portfolio.
ValueAct Capital (Trades, Portfolio) reduced its position in four stocks, with the most significant changes including a reduction in The Walt Disney Co. (NYSE:DIS) by 1,314,000 shares, resulting in a -29.92% decrease in shares and a -2.54% impact on the portfolio. The stock traded at an average price of $110.09 during the quarter and has returned 0.44% over the past three months and -7.32% year-to-date. Additionally, the firm reduced its position in MongoDB Inc. (NASDAQ:MDB) by 711,400 shares, resulting in a -33.59% reduction in shares and a -2.08% impact on the portfolio. The stock traded at an average price of $364.50 during the quarter and has returned 4.35% over the past three months and -15.57% year-to-date.
