Jeffrey Ubben

ValueAct Holdings, L.P. · Holdings as of Mar 31, 2026, filed by May 16, 2026 · US long stock positions only

Boardroom activist

Reported value

$6B

18 positions shown

Copycat since 2016

3.04x

11% per year

vs SPY

behind

SPY 3.57x same window

Top position

12% of book

Copying these filings vs SPY

$1 at every deadline since 2016

Price returns, dividends excluded on both lines. A copycat of public filings traded at each deadline, not the fund's actual performance.

Mar 2026 Dec 2025 Sep 2025 Jun 2025 Mar 2025 Dec 2024 Sep 2024 Jun 2024 Mar 2024 Dec 2023 Sep 2023 Jun 2023

The book

tile = share of the filed book · tap a tile for the ticker · Mar 2026

V 12% AMZN 11% CRM 10% BLK 9% META 9% RKT 7% TOST 6% LLYVK 6% RBLX 6% KKR 5% MDB 4% SSD 4% SPOT 3% LLYVA 3% LYV 2%

+3 more 3%

Symbol	Value	% of book	vs prior quarter
V	$700M	12%	added
AMZN	$601M	11%	trimmed
CRM	$559M	10%	unchanged
BLK	$525M	9%	trimmed
META	$524M	9%	trimmed
RKT	$402M	7%	trimmed
TOST	$342M	6%	added
LLYVK	$335M	6%	unchanged
RBLX	$331M	6%	trimmed
KKR	$303M	5%	new
MDB	$254M	4%	trimmed
SSD	$240M	4%	trimmed
SPOT	$174M	3%	new
LLYVA	$163M	3%	unchanged
LYV	$95M	2%	trimmed
WIX	$94M	2%	new
DIS	$39M	1%	trimmed
CBRE	$32M	1%	unchanged

Positions built under SEC confidential treatment appear only after the SEC releases them. Cash, foreign listings and shorts never appear in these filings.