ValueAct Capital
| Company type | Private |
|---|---|
| Industry | Investment management, Hedge fund |
| Founded | June 2000 |
| Founder | Jeffrey Ubben |
| Headquarters | San Francisco , United States |
Key people | Mason Morfit (CEO), Rob Hale (Co-CEO) |
| Products | Public equity investments, Hedge fund management |
ValueAct Capital Management, L.P. is a private investment firm headquartered in San Francisco that manages a portfolio valued near $9.269 billion on behalf of both institutional and individual clients. The firm functions primarily as a hedge fund with a concentration on public equity investments.
Background
Established in June 2000 by Jeffrey Ubben to oversee capital from the founder and select external investors, ValueAct was under Ubben’s leadership until 2020 when Mason Morfit assumed the role of CEO. In 2024, Rob Hale was elevated to Co-CEO, sharing leadership duties with Morfit.
Investor activities
ValueAct focuses on companies experiencing challenges or significant transformation, acquiring substantial stakes and working closely with management teams to drive long-term value creation for shareholders.
Rolls-Royce
In August 2020, ValueAct fully divested its holdings in Rolls-Royce.
Microsoft
ValueAct revealed a $2 billion investment in Microsoft (representing less than 1%) in May 2013. Shortly thereafter, Steve Ballmer announced his intention to step down. Microsoft agreed to cooperate with ValueAct and provided an option for board participation. Although some speculated that ValueAct’s involvement influenced Ballmer’s departure, both parties refuted this claim. Mason Morfit joined Microsoft’s board in early 2014 and remained until late 2017, a timeframe noted for robust performance under CEO Satya Nadella.
The New York Times Company
In August 2022, ValueAct disclosed ownership of a 7% stake in The New York Times Company, aiming to encourage greater sales of bundled subscription products across its portfolio.
Salesforce
ValueAct announced a multibillion-dollar stake in Salesforce in January 2022. Subsequently, on January 27, Salesforce appointed three new directors to its board, including Mason Morfit, who serves as CEO and CIO of ValueAct Capital.
Meta
In November 2024, ValueAct acquired a $1 billion position in Meta, indicating strong interest in the company’s strategic initiatives.
Rocket Companies
In May 2025, ValueAct revealed it held a 9.9% stake in Rocket Companies, the parent company of Rocket Mortgage, positioning itself to impact the mortgage lender’s strategic direction.