Great investors · Mason Morfit · Q4 2024
What Mason Morfit bought and sold in Q4 2024
ValueAct 13F portfolio as of Dec 31, 2024: 12 positions worth $4.4 bn. Largest: CRM, DIS, NSIT, RBLX. Filed with the SEC on Feb 14, 2025.
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 Q4 2024
- IncreasedLiberty MediaLLYVK*+3.7 pp
- NewAmazon.comAMZN+2.7 pp
Sells in Q4 2024
- ReducedSalesforceCRM−7.7 pp
- ReducedToastTOST−5.8 pp
- ReducedExpedia GroupEXPE−2.5 pp
- ReducedWalt DisneyDIS−2.3 pp
7 companies with material moves, out of 8 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 Q4 2024 13F lists 12 lines of US-listed securities worth $4.4 bn; the largest is CRM at 22.1% of the portfolio. It was accepted by the SEC on Feb 14, 2025 at 4:21 PM ET.
Against the previous quarter, it opened 1 position (AMZN), closed none, added to 3 (Liberty Media, Liberty Media and LYV) and trimmed 4 (CRM, TOST, DIS and EXPE). 4 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Salesforce CRM | 2.9 M | $969M | 22.1% | −26% |
| 2 | Walt Disney DIS | 6.6 M | $731M | 16.7% | −12% |
| 3 | Insight Enterprises NSIT | 4.1 M | $618M | 14.1% | no change |
| 4 | Roblox RBLX | 10.1 M | $586M | 13.4% | no change |
| 5 | Expedia Group EXPE | 2.0 M | $376M | 8.56% | −23% |
| 6 | Toast TOST | 8.5 M | $312M | 7.10% | −45% |
| 7 | Liberty Media | 3.2 M | $216M | 4.91% | +137% |
| 8 | Live Nation Entertainment LYV | 1.1 M | $137M | 3.13% | +4.6% |
| 9 | Meta Platforms META | 211,500 | $124M | 2.82% | no change |
| 10 | Visa V | 373,600 | $118M | 2.69% | no change |
| 11 | Amazon.com AMZN | 536,900 | $118M | 2.68% | new |
| 12 | Liberty Media | 1.3 M | $84.4M | 1.92% | +89% |
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.