Great investors · Mason Morfit · Q3 2025
What Mason Morfit bought and sold in Q3 2025
ValueAct 13F portfolio as of Sep 30, 2025: 16 positions worth $5.9 bn. Largest: AMZN, CRM, RBLX, META. Filed with the SEC on Nov 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 Q3 2025
- IncreasedMongodbMDB+4.2 pp
- IncreasedRocket CompaniesRKT+3.4 pp
- NewToastTOST+2.1 pp
- IncreasedVisaV+1.8 pp
- IncreasedMeta PlatformsMETA+1.8 pp
Sells in Q3 2025
- ReducedAmazon.comAMZN−1.4 pp
- ReducedWalt DisneyDIS−1.3 pp
- ReducedInsight EnterprisesNSIT−1.1 pp
- ReducedRobloxRBLX−1.0 pp
- ReducedCBRE GroupCBRE−0.9 pp
- Sold outExpedia GroupEXPE−0.8 pp
- ReducedLiberty MediaLLYVK*−0.8 pp
- ReducedLive Nation EntertainmentLYV−0.7 pp
- ReducedSimpson ManufacturingSSD−0.6 pp
14 companies with material moves, out of 16 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 2025 13F lists 16 lines of US-listed securities worth $5.9 bn; the largest is AMZN at 13.0% of the portfolio. It was accepted by the SEC on Nov 14, 2025 at 4:28 PM ET.
Against the previous quarter, it opened 1 position (TOST), closed 2 (EXPE and CCC), added to 4 (MDB, RKT, V and META) and trimmed 9 (AMZN, DIS, RBLX and NSIT and 5 more). 2 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Amazon.com AMZN | 3.5 M | $769M | 13.0% | −9.6% |
| 2 | Salesforce CRM | 2.9 M | $687M | 11.6% | no change |
| 3 | Roblox RBLX | 4.3 M | $593M | 10.0% | −9.5% |
| 4 | Meta Platforms META | 768,674 | $564M | 9.52% | +23% |
| 5 | Visa V | 1.6 M | $535M | 9.01% | +26% |
| 6 | Walt Disney DIS | 4.4 M | $503M | 8.48% | −14% |
| 7 | Rocket Companies RKT | 25.4 M | $492M | 8.30% | +68% |
| 8 | Mongodb MDB | 2.1 M | $367M | 6.19% | +207% |
| 9 | Liberty Media | 3.5 M | $341M | 5.75% | −12% |
| 10 | Insight Enterprises NSIT | 2.3 M | $258M | 4.35% | −21% |
| 11 | Simpson Manufacturing SSD | 1.2 M | $202M | 3.41% | −14% |
| 12 | Mr. Cooper Group COOP | 904,800 | $191M | 3.22% | no change |
| 13 | Liberty Media | 1.7 M | $162M | 2.73% | −3% |
| 14 | Toast TOST | 3.4 M | $124M | 2.09% | new |
| 15 | Live Nation Entertainment LYV | 640,866 | $105M | 1.77% | −28% |
| 16 | CBRE Group CBRE | 234,591 | $37.0M | 0.62% | −60% |
Positions it closed (2)
- Expedia Group EXPEwas 0.84% · 278,356 shares
- CCC Intelligent Solutions Holdings CCCwas 0.48% · 2.9 M 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.