Insights from the Latest 13F Filing for Q4 2023
ValueAct Capital (Trades, Portfolio), a seasoned investment firm with over two decades of experience, has recently disclosed its 13F holdings for the fourth quarter of 2023. The firm is known for its collaborative approach, working closely with management teams to enhance business models and create long-term value. With a history of over 100 core investments and active roles in 49 public company boards, ValueAct Capital (Trades, Portfolio) exemplifies a commitment to integrity, strategic industry insight, and a consideration of social and ethical factors in its investment decisions. The firm's latest moves offer a glimpse into its strategic positioning for the future.
Summary of New Buys
ValueAct Capital (Trades, Portfolio) expanded its portfolio with three new stocks in the last quarter:
- Expedia Group Inc (EXPE, Financial) emerged as the standout addition, with 4,251,568 shares valued at $645.35 million, making up 12.92% of the portfolio.
- The Walt Disney Co (DIS, Financial) followed, with 5,086,331 shares worth approximately $459.24 million, accounting for 9.19% of the portfolio.
- Paycom Software Inc (PAYC, Financial) rounded out the top three, with 608,000 shares valued at $125.69 million, representing 2.52% of the portfolio.
Key Position Increases
ValueAct Capital (Trades, Portfolio) also bolstered its stake in an existing holding:
- Danaher Corp (DHR, Financial) saw an increase of 82,000 shares, bringing the total to 200,000 shares. This adjustment marks a 69.49% increase in share count and a 0.38% impact on the current portfolio, with a total value of $46.27 million.
Summary of Sold Out Positions
The firm completely exited two holdings in the fourth quarter of 2023:
- Alarm.com Holdings Inc (ALRM, Financial) was sold off entirely, with 585,400 shares liquidated, impacting the portfolio by -0.8%.
Key Position Reductions
ValueAct Capital (Trades, Portfolio) reduced its positions in six stocks, with significant changes in:
- Seagate Technology Holdings PLC (STX, Financial) was cut by 7,424,722 shares, a -96.59% decrease, affecting the portfolio by -11%. The stock traded at an average price of $74.63 during the quarter.
- Fiserv Inc (FISV) saw a reduction of 3,360,000 shares, a -44.51% decrease, impacting the portfolio by -8.52%. The stock's average trading price was $122.71 during the quarter.
Portfolio Overview
As of the fourth quarter of 2023, ValueAct Capital (Trades, Portfolio)'s portfolio consisted of 14 stocks. The top holdings were 18.36% in Salesforce Inc (CRM, Financial), 16% in Insight Enterprises Inc (NSIT, Financial), 12.92% in Expedia Group Inc (EXPE, Financial), 11.14% in Fiserv Inc (FISV), and 9.87% in KKR & Co Inc (KKR, Financial). The investments are primarily concentrated across six industries: Technology, Communication Services, Consumer Cyclical, Financial Services, Real Estate, and Healthcare.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
