Great investors · Mason Morfit · Q4 2025
What Mason Morfit bought and sold in Q4 2025
ValueAct 13F portfolio as of Dec 31, 2025: 16 positions worth $7.0 bn. Largest: CRM, AMZN, RKT, BLK. Filed with the SEC on Feb 17, 2026.
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 2025
- NewBlackRockBLK+10.6 pp
- IncreasedRocket CompaniesRKT+3.9 pp
- IncreasedMeta PlatformsMETA+2.6 pp
- IncreasedToastTOST+2.3 pp
- IncreasedRobloxRBLX+2.0 pp
- IncreasedVisaV+0.8 pp
- IncreasedSimpson ManufacturingSSD+0.6 pp
Sells in Q4 2025
- ReducedMongodbMDB−4.3 pp
- ReducedWalt DisneyDIS−2.1 pp
- ReducedInsight EnterprisesNSIT−1.2 pp
10 companies with material moves, out of 15 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 2025 13F lists 16 lines of US-listed securities worth $7.0 bn; the largest is CRM at 11.3% of the portfolio. It was accepted by the SEC on Feb 17, 2026 at 4:20 PM ET.
Against the previous quarter, it opened 1 position (BLK), closed none, added to 10 (RKT, TOST, META and RBLX and 6 more) and trimmed 4 (MDB, DIS, NSIT and AMZN). 1 line shows the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Salesforce CRM | 3.0 M | $793M | 11.3% | +3.3% |
| 2 | Amazon.com AMZN | 3.4 M | $783M | 11.2% | −3% |
| 3 | Rocket Companies RKT | 39.4 M | $762M | 10.9% | +55% |
| 4 | BlackRock BLK | 695,000 | $744M | 10.6% | new |
| 5 | Meta Platforms META | 1.0 M | $692M | 9.85% | +36% |
| 6 | Visa V | 1.7 M | $603M | 8.58% | +9.7% |
| 7 | Mongodb MDB | 1.4 M | $590M | 8.40% | −34% |
| 8 | Roblox RBLX | 6.0 M | $484M | 6.89% | +40% |
| 9 | Walt Disney DIS | 3.1 M | $350M | 4.98% | −30% |
| 10 | Liberty Live Holdings LLYVK | 3.6 M | $300M | 4.27% | +2.5% |
| 11 | Toast TOST | 8.0 M | $285M | 4.05% | +136% |
| 12 | Simpson Manufacturing SSD | 1.5 M | $238M | 3.38% | +22% |
| 13 | Liberty Live Holdings LLYVA | 1.8 M | $147M | 2.09% | +4.6% |
| 14 | Live Nation Entertainment LYV | 823,066 | $117M | 1.67% | +28% |
| 15 | Insight Enterprises NSIT | 1.2 M | $99.1M | 1.41% | −46% |
| 16 | CBRE Group CBRE | 234,591 | $37.7M | 0.54% | no change |
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.