Great investors · Mason Morfit · Q3 2024
What Mason Morfit bought and sold in Q3 2024
ValueAct 13F portfolio as of Sep 30, 2024: 11 positions worth $4.4 bn. Largest: CRM, NSIT, DIS, RBLX. Filed with the SEC on Nov 15, 2024.
The 13F is filed by ValueAct, not by Mason Morfit personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q3 2024
- NewToastTOST+10.0 pp
- IncreasedRobloxRBLX+7.9 pp
- IncreasedWalt DisneyDIS+2.9 pp
- NewMeta PlatformsMETA+2.8 pp
- NewLive Nation EntertainmentLYV+2.5 pp
- NewVisaV+2.3 pp
- NewLiberty MediaLLYVK*+2.3 pp
Sells in Q3 2024
- Sold outSpotify TechnologySPOT−4.9 pp
- Sold outFiservFISV−3.8 pp
- Sold outKKRKKR−2.9 pp
- ReducedExpedia GroupEXPE−2.7 pp
- Sold outNew York TimesNYT−1.6 pp
- Sold outFlutter EntertainmentFLUT−1.1 pp
14 companies with material moves, out of 14 positions with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
ValueAct's Q3 2024 13F lists 11 lines of US-listed securities worth $4.4 bn; the largest is CRM at 24.5% of the portfolio. It was accepted by the SEC on Nov 15, 2024 at 4:16 PM ET.
Against the previous quarter, it opened 6 positions (TOST, META, LYV and V and 2 more), closed 5 (SPOT, FISV, KKR and NYT and 1 more), added to 2 (RBLX and DIS) and trimmed 1 (EXPE). 2 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Salesforce CRM | 3.9 M | $1.1 bn | 24.5% | no change |
| 2 | Insight Enterprises NSIT | 4.1 M | $875M | 20.0% | no change |
| 3 | Walt Disney DIS | 7.5 M | $718M | 16.4% | +22% |
| 4 | Roblox RBLX | 10.1 M | $449M | 10.3% | +341% |
| 5 | Toast TOST | 15.5 M | $438M | 10.0% | new |
| 6 | Expedia Group EXPE | 2.6 M | $386M | 8.82% | −24% |
| 7 | Meta Platforms META | 211,500 | $121M | 2.77% | new |
| 8 | Live Nation Entertainment LYV | 1.0 M | $111M | 2.54% | new |
| 9 | Visa V | 373,600 | $103M | 2.35% | new |
| 10 | Liberty Media | 1.3 M | $68.7M | 1.57% | new |
| 11 | Liberty Media | 671,800 | $33.3M | 0.76% | new |
Positions it closed (5)
- Spotify Technology SPOTwas 5.97% · 676,553 shares
- Fiserv FISVwas 4.63% · 1.1 M shares
- KKR KKRwas 3.57% · 1.2 M shares
- New York Times NYTwas 1.94% · 1.3 M shares
- Flutter Entertainment FLUTwas 1.31% · 323,235 shares
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.