Jeffrey Ubben et al portfolio & holdings
ValueAct Holdings, L.P.
Historical clone performance and limitations
Jeffrey Ubben et al (ValueAct Holdings, L.P.) discloses a $5.63B portfolio across 18 US-listed positions in the latest 13F filing (2026Q2, filed Aug 14, 2026). The largest holding is V at 14.1% of the book.
A material reported change · Q2 2026
Jeffrey Ubben et al reported no remaining DIS position.
Holdings as of Jun 30, 2026 · filed Aug 14, 2026. Previously 0.7% of the reported portfolio. The filing does not reveal the trade date, price, or reason.
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Holdings (18) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | V | 14.1% | $795M | |||
| 2 | AMZN | 12.4% | $701M | |||
| 3 | RKT | 11.6% | $656M | |||
| 4 | BLK | 9.9% | $559M | |||
| 5 | META | 9.2% | $516M | |||
| 6 | CRM | 8.3% | $469M | |||
| 7 | TOST | 7.0% | $393M | |||
| 8 | KKR | 5.8% | $327M | |||
| 9 | SPOT | 4.3% | $242M | |||
| 10 | LLYVK | 4.1% | $229M | |||
| 11 | SSD | 3.1% | $174M | |||
| 12 | RBLX | 3.0% | $171M | |||
| 13 | CBRE | 2.4% | $134M | |||
| 14 | LLYVA | 1.4% | $80M | |||
| 15 | MDB | 1.0% | $56M | |||
| 16 | LYV | 1.0% | $55M | |||
| 17 | WIX | 0.8% | $47M | |||
| 18 | PAYP | 0.5% | $31M |
- 1Vport14.1%val$795MVisa Inc-class A Sharesthis Q hold·8q
- 2AMZNport12.4%val$701MAmazon.com Incthis Q hold·7q
- 3RKTport11.6%val$656MRocket Cos Inc-class Athis Q +48%·8q
- 4BLKport9.9%val$559MBlackrock Incthis Q hold·3q
- 5METAport9.2%val$516MMeta Platforms Inc-class Athis Q hold·8q
- 6CRMport8.3%val$469MSalesforce Incthis Q hold·15q
- 7TOSTport7.0%val$393MToast Inc-class Athis Q hold·7q
- 8KKRport5.8%val$327MKkr & CO Incthis Q hold·27q
- 9SPOTport4.3%val$242MSpotify Technology S Athis Q +47%·8q
- 10LLYVKport4.1%val$229MLiberty Live Holdings-cthis Q -39%·3q
- 11SSDport3.1%val$174MSimpson Manufacturing CO Incthis Q -41%·5q
- 12RBLXport3.0%val$171MRoblox Corp -class Athis Q -46%·12q
- 13CBREport2.4%val$134MCbre Group Inc - Athis Q +323%·36q
- 14LLYVAport1.4%val$80MLiberty Live Holdings-athis Q -56%·3q
- 15MDBport1.0%val$56MMongodb Incthis Q -84%·5q
- 16LYVport1.0%val$55MLive Nation Entertainment INthis Q -52%·8q
- 17WIXport0.8%val$47MWix Com Ltdthis Q hold·2q
- 18PAYPport0.5%val$31MPaypay Corpthis Q New·—1q
2026Q2 moves, by size (11)(expand ↓)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| RKT | Rocket Cos Inc-class A | ADD | 11.6% | +48% | $656M |
| LLYVK | Liberty Live Holdings-c | TRIM | 4.1% | -39% | $229M |
| RBLX | Roblox Corp -class A | TRIM | 3.0% | -46% | $171M |
| MDB | Mongodb Inc | TRIM | 1.0% | -84% | $56M |
| SPOT | Spotify Technology S A | ADD | 4.3% | +47% | $242M |
| SSD | Simpson Manufacturing CO Inc | TRIM | 3.1% | -41% | $174M |
| LLYVA | Liberty Live Holdings-a | TRIM | 1.4% | -56% | $80M |
| CBRE | Cbre Group Inc - A | ADD | 2.4% | +323% | $134M |
| LYV | Live Nation Entertainment IN | TRIM | 1.0% | -52% | $55M |
| DIS | Walt Disney Co/the | EXIT | 0.7% | -100% | $0 |
| PAYP | Paypay Corp | NEW | 0.5% | +100% | $31M |
- ADDRKT11.6%Rocket Cos Inc-class AΔ +48%·$656M
- TRIMLLYVK4.1%Liberty Live Holdings-cΔ -39%·$229M
- TRIMRBLX3.0%Roblox Corp -class AΔ -46%·$171M
- TRIMMDB1.0%Mongodb IncΔ -84%·$56M
- ADDSPOT4.3%Spotify Technology S AΔ +47%·$242M
- TRIMSSD3.1%Simpson Manufacturing CO IncΔ -41%·$174M
- TRIMLLYVA1.4%Liberty Live Holdings-aΔ -56%·$80M
- ADDCBRE2.4%Cbre Group Inc - AΔ +323%·$134M
- TRIMLYV1.0%Live Nation Entertainment INΔ -52%·$55M
- EXITDIS0.7%Walt Disney Co/theΔ -100%·$0
- NEWPAYP0.5%Paypay CorpΔ +100%·$31M
About Jeffrey Ubben et al
Jeffrey Ubben built ValueAct Capital into one of the more recognizable activist shops in the U.S. by taking concentrated stakes in a small number of companies and then working constructively with management rather than launching public campaigns — board seats over press releases. The fund's history includes notable positions in Microsoft (where a ValueAct board seat preceded Satya Nadella's strategic pivot) and Rolls-Royce. Ubben departed in 2020 to found Inclusive Capital Partners, an ESG-oriented vehicle, leaving Mason Morfit to run ValueAct. The current 13F reflects an 18-position book with modest concentration — top-5 at roughly 51%, anchored by Visa, Amazon, Salesforce, BlackRock, and Meta — which sits closer to a focused long-only fund than a classic activist block-builder. Readers should note that ValueAct's influence has historically come from privately negotiated arrangements that never appear in 13F filings; the public portfolio is a partial and lagging view of where the actual engagement thesis lives.
2026Q2 brief
ValueAct's highly concentrated $5.6B book (18 positions, top-5 at 57.3%) made its boldest move in RKT, adding nearly 48% to make it the #3 position at 11.6%—a striking bet on Rocket Companies' mortgage platform that reads as a macro call on rate normalization. CBRE exploded 323% in share count to 2.4%, a clear signal that Ubben sees real estate services as a recovery play. Meanwhile, the Liberty/Live Nation complex was aggressively unwound: LLYVA trimmed 56%, LLYVK cut 39%, LYV halved, and DIS exited entirely—suggesting disillusionment with the legacy entertainment/events thesis. MDB was nearly abandoned (-84% to under 1%), a notable retreat from a once-favored developer-data name. SPOT added 47% to 4.3%, reinforcing Ubben's conviction in subscription audio. The portfolio now tilts heavily toward fintech-adjacent platforms (V at 14.1%, TOST at 7.0%, RKT) and mega-cap tech (AMZN 12.4%, META 9.2%, CRM 8.3%). Watch next filing: whether RKT becomes a top-two holding and if the Liberty complex is fully closed.
AI-generated. Not investment advice.
Filing history
Jeffrey Ubben et al's disclosed 13F portfolio value and position count by quarter — the trajectory across every SEC filing.
| Quarter | Positions | Portfolio value |
|---|---|---|
| Q2 2026 — what changed → | 18 | $5.63B |
| Q1 2026 — what changed → | 18 | $5.71B |
| Q4 2025 — what changed → | 16 | $7.03B |
| Q3 2025 — what changed → | 16 | $5.93B |
| Q2 2025 — what changed → | 18 | $5.60B |
| Q1 2025 — what changed → | 14 | $4.58B |
| Q4 2024 holdings | 12 | $4.39B |
| Q3 2024 holdings | 11 | $4.37B |
| Q2 2024 holdings | 10 | $3.56B |
| Q1 2024 holdings | 12 | $4.54B |
| Q4 2023 holdings | 14 | $5.00B |
| Q3 2023 holdings | 12 | $4.45B |
Values as disclosed at each quarter end. Older filings on EDGAR.
Manager evidence
19 material decisions, preserved in sequence.
See what Jeffrey Ubben et al bought, added, trimmed, or exited across eight quarters—plus disclosure lag, SEC sources, and observed outcomes versus SPY. No guru grade.
Open Jeffrey Ubben et al's decision evidence →Frequently asked questions
- What stocks does Jeffrey Ubben et al own?
- As of 2026Q2, Jeffrey Ubben et al's 13F discloses 18 positions worth $5.63B. The top five holdings: V (14.1%), AMZN (12.4%), RKT (11.6%), BLK (9.9%), META (9.2%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
- What did Jeffrey Ubben et al buy this quarter?
- In 2026Q2, the filing shows 1 new position and 3 additions to existing holdings. The largest positions touched by buying: RKT, SPOT, CBRE, PAYP.
- How big is Jeffrey Ubben et al's portfolio?
- $5.63B across 18 positions per the latest 13F (filed Aug 14, 2026). The top five holdings account for 57% of the disclosed book.
Similar portfolios
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001418814). Not investment advice.