Jeffrey Ubben

ValueAct Holdings, L.P. · Holdings as of Jun 30, 2025, filed by Aug 15, 2025 · 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

AMZN

15% 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 · Jun 2025

AMZN 15% CRM 14% DIS 11% RBLX 9% META 8% V 8% NSIT 7%

unlisted 6%

SSD 4% RKT 4% MDB 3%

unlisted 3%

unlisted 2%

LYV 2% CBRE 1%

+3 more 2%

Symbol	Value	% of book	vs prior quarter
AMZN	$850M	15%	added
CRM	$790M	14%	unchanged
DIS	$631M	11%	trimmed
RBLX	$498M	9%	trimmed
META	$460M	8%	trimmed
V	$442M	8%	trimmed
NSIT	$395M	7%	trimmed
unlisted	$324M	6%	added
SSD	$218M	4%	new
RKT	$214M	4%	added
MDB	$145M	3%	new
unlisted	$141M	3%	added
unlisted	$135M	2%	new
LYV	$134M	2%	unchanged
CBRE	$83M	1%	new
unlisted	$65M	1%	new
EXPE	$47M	1%	trimmed
CCC	$27M	0%	new

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