Jeffrey Ubben - ValueAct Holdings 13F Activity & Position Changes (Q3 2025)

According to the SEC 13F filed on Nov 14, 2025, the ValueAct Holdings portfolio showed several notable changes in holdings as of quarter-end Sep 30, 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 Q3 2025, the filing reported:

New Buys - Toast, Inc.

Increases - MongoDB, Inc., Meta Platforms, Inc., Rocket Companies, Inc., Visa Inc.

Reductions - Amazon.com, Inc., CBRE Group Inc, Walt Disney Company (The), Liberty Media Corporation - Ser, Liberty Media Corporation - Ser, and 4 more

Complete Exits - CCC Intelligent Solutions Holdi, Expedia Group, Inc., Redfin Corporation

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
Q3 2025	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Sell	-372,000	-9.6%	$768.60M	3,500,500
Q3 2025	CBRE CBRE Group Inc	CBRE Group Inc	Sell	-354,800	-60.2%	$36.96M	234,591
Q3 2025	CCCS CCC Intelligent Solutions Holdi	CCC Intelligent Solutions Holdi	Sell - Position Exit	-2,881,800	-100.0%	$0.00	-
Q3 2025	DIS Walt Disney Company (The)	Walt Disney Company (The)	Sell	-695,700	-13.7%	$502.88M	4,391,931
Q3 2025	EXPE Expedia Group, Inc.	Expedia Group, Inc.	Sell - Position Exit	-278,356	-100.0%	$0.00	-
Q3 2025	LLYVA Liberty Media Corporation - Ser	Liberty Media Corporation - Ser	Sell	-53,600	-3.0%	$162.15M	1,719,548
Q3 2025	LLYVK Liberty Media Corporation - Ser	Liberty Media Corporation - Ser	Sell	-476,000	-11.9%	$340.94M	3,515,888
Q3 2025	LYV Live Nation Entertainment, Inc.	Live Nation Entertainment, Inc.	Sell	-244,400	-27.6%	$104.72M	640,866
Q3 2025	MDB MongoDB, Inc.	MongoDB, Inc.	Buy	+1,427,700	+206.8%	$367.19M	2,118,200
Q3 2025	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+145,300	+23.3%	$564.50M	768,674
Q3 2025	NSIT Insight Enterprises, Inc.	Insight Enterprises, Inc.	Sell	-590,000	-20.6%	$257.64M	2,271,739
Q3 2025	RBLX Roblox Corporation	Roblox Corporation	Sell	-448,800	-9.5%	$593.31M	4,283,221
Q3 2025	RDFN Redfin Corporation	Redfin Corporation	Sell - Position Exit	-5,805,600	-100.0%	$0.00	-
Q3 2025	RKT Rocket Companies, Inc.	Rocket Companies, Inc.	Buy	+10,270,018	+67.9%	$492.17M	25,395,627
Q3 2025	SSD Simpson Manufacturing Company,	Simpson Manufacturing Company,	Sell	-198,163	-14.1%	$202.28M	1,207,942
Q3 2025	TOST Toast, Inc.	Toast, Inc.	Buy - Position Entry	+3,397,200	-	$124.03M	3,397,200
Q3 2025	V Visa Inc.	Visa Inc.	Buy	+320,900	+25.8%	$534.55M	1,565,850