ValueAct Capital Adjusts Portfolio, Major Reduction in Fiserv Inc by -8.04%

GuruFocus Research

Tue, Nov 14, 2023, 7:47 PM 2 min read

Insights from ValueAct Capital (Trades, Portfolio)'s Latest 13F Filing for Q3 2023

Warning! GuruFocus has detected 7 Warning Signs with FI.

ValueAct Capital (Trades, Portfolio), a renowned investment firm with a 21-year track record of over 100 core investments, has recently disclosed its 13F holdings for the third quarter of 2023. The firm, known for its long-term investment approach and active participation in company boards, has made significant changes to its portfolio during this period. ValueAct Capital (Trades, Portfolio)'s investment strategy is deeply rooted in working closely with management teams to enhance business models and create value for all stakeholders, often holding positions for several years.

ValueAct Capital Adjusts Portfolio, Major Reduction in Fiserv Inc by -8.04%

New Additions to ValueAct Capital (Trades, Portfolio)'s Portfolio

ValueAct Capital (Trades, Portfolio) has expanded its portfolio with four new stocks in the third quarter of 2023, including:

Illumina Inc (NASDAQ:ILMN), purchasing 519,610 shares, which now comprise 1.6% of the portfolio, valued at $71.33 million.
Roblox Corp (NYSE:RBLX), with an acquisition of 1,800,000 shares, making up about 1.17% of the portfolio, totaling $52.13 million.
Alarm.com Holdings Inc (NASDAQ:ALRM), adding 585,400 shares, accounting for 0.8% of the portfolio, with an investment worth $35.79 million.

Complete Exits from Holdings

During the same quarter, ValueAct Capital (Trades, Portfolio) also decided to exit a position:

Altus Power Inc (NYSE:AMPS), selling all 4,017,628 shares, which had a -0.34% impact on the portfolio.

Key Position Reductions

ValueAct Capital (Trades, Portfolio) has trimmed its stakes in six companies, with the most notable reductions being:

Fiserv Inc (FISV), where 4,098,935 shares were sold, leading to a -35.19% decrease in the holding and an -8.04% impact on the portfolio. The stock's average trading price was $123.15 during the quarter, with a -1.86% return over the past three months and a 20.87% year-to-date return.
KKR & Co Inc (NYSE:KKR), with a sale of 9,114,325 shares, resulting in a -44.38% reduction and a -7.94% impact on the portfolio. The average price during the quarter was $60.73, and the stock has returned 8.15% over the past three months and 44.79% year-to-date.