13F
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ValueAct Holdings, L.P.

13F equity value
$5.7B
Positions
18
Top 10 concentration
80.9%
Quarters / total new picks
24 / 48
13F equity value over time
$0M$6B$11B2017201820192020202120222023202420252026

"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.

Not significant Verdict

13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.

We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 24 quarters, returned +5.3% per quarter — versus +2.7% per quarter from simply owning every 13F stock. It beat that baseline in only 41.7% of quarters (excess t = -0.54, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
-2.6%
t-stat
-0.54
Quarterly win rate
42%
Annualized excess
+5.1%
$1 → follow vs universe
$2.23 vs $1.70
Cumulative return: $1 invested in new picks vs universe
1.00 20180331: universe 1.04120180630: universe 0.95920180930: universe 1.00320181231: universe 0.99220190331: universe 0.97520190630: universe 1.04820190930: universe 1.12720191231: universe 0.90920200331: universe 1.09620200930: universe 1.34420201231: universe 1.40520210331: universe 1.41820210630: universe 1.53120210930: universe 1.37520220630: universe 1.27320221231: universe 1.18320230930: universe 1.34320231231: universe 1.40320240930: universe 1.39120241231: universe 1.29820250331: universe 1.41520250630: universe 1.45920250930: universe 1.64120251231: universe 1.698 20180331: follow 0.98120180630: follow 0.93220180930: follow 1.00020181231: follow 0.98420190331: follow 0.82520190630: follow 0.88120190930: follow 1.52620191231: follow 1.03920200331: follow 1.13520200930: follow 1.28320201231: follow 1.31320210331: follow 1.27220210630: follow 1.49020210930: follow 1.27220220630: follow 1.14420221231: follow 1.45120230930: follow 1.78720231231: follow 1.62320240930: follow 1.88320241231: follow 1.85920250331: follow 2.64820250630: follow 2.75320250930: follow 2.19220251231: follow 2.232 0.76 1.87 2.97 20182019202020212022202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 18 holdings of 18 · 2026 Q1

Ticker Value Weight QoQ
V $700M
12.3%
ADD
AMZN $601M
10.5%
TRIM
CRM $559M
9.8%
HOLD
BLK $525M
9.2%
TRIM
META $524M
9.2%
TRIM
RKT $402M
7.0%
TRIM
TOST $342M
6.0%
ADD
LLYVK $335M
5.9%
HOLD
RBLX $331M
5.8%
TRIM
KKR $303M
5.3%
NEW
MDB $254M
4.5%
TRIM
SSD $240M
4.2%
TRIM
SPOT $174M
3.0%
NEW
LLYVA $163M
2.9%
HOLD
LYV $95M
1.7%
TRIM
WIX $94M
1.7%
NEW
DIS $39M
0.7%
TRIM
CBRE $32M
0.6%
HOLD

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

KKRSPOTWIX

Method & Limitations

Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.