# ValueAct: 13F portfolio, Q2 2026

Investment firm, San Francisco.

Source: SEC Form 13F filed 2026-08-14 for the quarter ended 2026-06-30: https://www.sec.gov/Archives/edgar/data/1418814/000141881426000003/0001418814-26-000003-index.htm
Values are as the manager reported them in the filing, not current market prices.
Page: https://valuepeg.com/managers/valueact
Updated: 2026-08-14 · Next filing due by 2026-11-14

## Summary
- Reported value: $5.6B (Q1 2026: $5.7B)
- Positions: 18 (Q1 2026: 18)
- Top 10 holdings: 86.7% of the portfolio
- This quarter: 1 new, 7 added to, 6 trimmed, 1 sold out

## What ValueAct did in Q2 2026
ValueAct opened a new position in PayPay. It raised its stake in Cbre Group by 323%. It sold out of Walt Disney. It cut MongoDB by 84%, Liberty Live Holdings by 56% and Live Nation Entertainment by 52%. Visa is still the largest holding, at 14.1% of the portfolio.

## Biggest buys
- PayPay (PAYP): New
- Cbre Group (CBRE): +323%
- Rocket Companies (RKT): +48%
- Spotify Technology (SPOT): +47%
- Toast (TOST): +10%

## Biggest sells
- Walt Disney (DIS): Sold out
- MongoDB (MDB): −84%
- Liberty Live Holdings (LLYVA): −56%
- Live Nation Entertainment (LYV): −52%
- Roblox (RBLX): −46%

## Top 15 holdings
| # | Company | Ticker | % of portfolio | Reported value | Change vs Q1 2026 | Held since |
|---|---|---|---|---|---|---|
| 1 | Visa | V | 14.1% | $794.7M | No change | Q3 2024 or earlier |
| 2 | Amazon | AMZN | 12.4% | $701.1M | +2% | Q4 2024 |
| 3 | Rocket Companies | RKT | 11.6% | $656.3M | +48% | Q1 2025 |
| 4 | BlackRock | BLK | 9.9% | $559.3M | +7% | Q4 2025 |
| 5 | Meta Platforms | META | 9.2% | $515.8M | No change | Q3 2024 or earlier |
| 6 | Salesforce | CRM | 8.3% | $469.1M | No change | Q3 2024 or earlier |
| 7 | Toast | TOST | 7.0% | $393.2M | +10% | Q4 2024 |
| 8 | KKR | KKR | 5.8% | $326.6M | +8% | Q1 2026 |
| 9 | Spotify Technology | SPOT | 4.3% | $241.9M | +47% | Q1 2026 |
| 10 | Liberty Live Holdings | LLYVK | 4.1% | $229.5M | −39% | Q4 2025 |
| 11 | Simpson Manufacturing | SSD | 3.1% | $173.9M | −41% | Q2 2025 |
| 12 | Roblox | RBLX | 3.0% | $171.2M | −46% | Q3 2024 or earlier |
| 13 | Cbre Group | CBRE | 2.4% | $133.7M | +323% | Q2 2025 |
| 14 | Liberty Live Holdings | LLYVA | 1.4% | $79.5M | −56% | Q4 2025 |
| 15 | MongoDB | MDB | 1.0% | $55.7M | −84% | Q2 2025 |

3 more positions and every quarter's holdings are on Valuepeg for members: https://valuepeg.com/managers/valueact

## Other value investors
- Viking Global Investors: https://valuepeg.com/managers/viking-global
- Wedgewood Partners: https://valuepeg.com/managers/wedgewood-partners
- Weitz Investment Management: https://valuepeg.com/managers/weitz-investment-management
- Yacktman Asset Management: https://valuepeg.com/managers/yacktman-asset-management
- Abrams Capital: https://valuepeg.com/managers/abrams-capital

## About this data
- **What is a 13F?** A quarterly report to the SEC in which an investment manager with over $100 million in US-listed stocks lists what it holds.
- **How current is it?** Managers file up to 45 days after each quarter ends, so the holdings may have changed since.
- **Whose figures are these?** The values are as the manager reported them in the filing, not today's prices. The SEC lets a manager keep some positions confidential for a time, and those are not in the filing.
- **What does it leave out?** Short positions, cash, bonds and most holdings outside US markets. Options are left out here too.

Not investment advice.