Jeffrey Ubben - ValueAct Holdings 13F Activity & Position Changes (Q1 2025)

According to the SEC 13F filed on May 15, 2025, the ValueAct Holdings portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2025, the filing reported:

New Buys - Nu Holdings, Rocket Companies, Inc.

Increases - Amazon.com, Inc., Liberty Media Corporation - Ser, Liberty Media Corporation - Ser, Meta Platforms, Inc., Visa Inc.

Reductions - Expedia Group, Inc., Live Nation Entertainment, Inc., Roblox Corporation, Toast, Inc.

Complete Exits - None reported

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2025	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+26,200	+4.9%	$107.14M	563,100
Q1 2025	EXPE Expedia Group, Inc.	Expedia Group, Inc.	Sell	-900,250	-44.6%	$187.79M	1,117,156
Q1 2025	G6683N103 Nu Holdings	Nu Holdings	Buy - Position Entry	+3,416,200	-	$34.98M	3,416,200
Q1 2025	LLYVA Liberty Media Corporation - Ser	Liberty Media Corporation - Ser	Buy	+390,200	+30.8%	$111.53M	1,658,648
Q1 2025	LLYVK Liberty Media Corporation - Ser	Liberty Media Corporation - Ser	Buy	+735,100	+23.2%	$266.01M	3,903,888
Q1 2025	LYV Live Nation Entertainment, Inc.	Live Nation Entertainment, Inc.	Sell	-176,200	-16.6%	$115.60M	885,266
Q1 2025	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+803,374	+379.8%	$584.93M	1,014,874
Q1 2025	RBLX Roblox Corporation	Roblox Corporation	Sell	-1,371,000	-13.5%	$510.91M	8,764,921
Q1 2025	RKT Rocket Companies, Inc.	Rocket Companies, Inc.	Buy - Position Entry	+6,728,509	-	$81.21M	6,728,509
Q1 2025	TOST Toast, Inc.	Toast, Inc.	Sell	-5,951,400	-69.6%	$86.15M	2,597,200
Q1 2025	V Visa Inc.	Visa Inc.	Buy	+939,350	+251.4%	$460.14M	1,312,950