Jeff Ubben's ValueAct Bet On Meta, Visa And Exited Spotify In Q3: Was It A Clever Move?

Published on 1 min ago

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:

Holdings	Stock Units	Share Price on Nov. 14 ($)	Price Today ($)	Percentage Change	Value on Nov. 14 ($)	Value as of Feb. 5 ($)	Gains/Losses ($)
Meta	211,500	577.16	710.31	23.06%	122.07 million	150.23 million	+28 million
Visa	373,600	308.25	348.22	12.96%	115.16 million	130.09 million	+15 million
Live Nation	1.01 million	129.19	148.44	14.90%	131.08 million	150.61 million	+20 million
Spotify (Exited Position)	676,553	477.50	617.89	29.40%	302.76 million	418.04 million	+115 million

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.

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.

Co-founded by Jeff Ubben in 2000 in San Francisco, ValueAct Capital has a long history of investing in technology companies and other growth sectors.

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