ValueAct's Bet On Meta, Visa, And Spotify Exit In Q3: Was It A Clever Move? (CORRECTED)

Editor’s Note: This article has been updated to reflect that Jeff Ubben is no longer with ValueAct. The revised version correctly attributes the investment decisions to ValueAct rather than “Jeff Ubben's ValueAct.”

ValueAct Holdings, L.P. disclosed its third-quarter portfolio in a 13F filing with the U.S. Securities and Exchange Commission on Nov. 14.

What Happened: The activist hedge fund made significant adjustments, adding shares in Meta Platforms META, Visa Inc. V, and Live Nation Entertainment, Inc. LYV while exiting its stake in Spotify Technology SPOT.

Since then, these investments have seen notable price changes. Here's a breakdown:

Since filing, Live Nation, Visa, and Meta have all experienced double-digit growth. Spotify recorded the biggest rise, though, at 29.40%, despite ValueAct’s exit.

See Also: Disney Q1 Earnings: Revenue And EPS Beat, Moana 2 and Mufasa Power Operating Income, 700K Drop In Streaming Subscribers

Why It Matters: ValueAct, known for its activist investment approach, typically uses an event-driven strategy to influence corporate policy and enhance company value. CEO Mason Morfit leads the firm, which has built a reputation for a collaborative, constructivist style compared to more confrontational activist funds. A ValueAct spokesperson confirmed to Benzinga that the firm has built a $1 billion stake in Meta.

Founded by Jeff Ubben in 2000 in San Francisco, ValueAct Capital has a long track record of investing in technology and growth sectors. However, Ubben has since departed the firm, stating in a 2020 interview with the Financial Times, "ValueAct needs to not be ‘Jeff Ubben's ValueAct' anymore."

Read Next:

• Private Employment Rises By 183,000, Beats Estimates In January: ‘Consumer-Facing Industries Drove Hiring’

Image Via Shutterstock

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.