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Highlights of ValueAct Capital’s activist positions

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ValueAct Capital’s activist positions

Activist hedge fund ValueAct Capital made changes to some existing positions through amendments to its previous 13D filings. In this series we’ll go through the changes that were made to the fund’s activist positions since July.

ValueAct

According to 13D amendments since July, ValueAct Capital amended its positions in Dresser-Rand Group (DRC), CBRE Group Inc. (CBG), Rockwell Collins Inc. (COL), Valeant Pharmaceuticals (VRX), and Motorola Solutions Inc. (MSI).

In October, the fund took a new activist position in Agrium (or AGU). Market Realist covered the position and Agrium’s latest 3Q14 results in “Must-know: ValueAct Capital’s activist interest in Agrium.

ValueAct’s activist targets

ValueAct is based in San Francisco. It manages more than $14 billion on behalf of several institutional and individual investors. The fund was founded in 2000 by Jeffrey Ubben and George Hamel, Jr.

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One of its notable targets is Microsoft. ValueAct revealed its $2 billion position in Microsoft last year. It was instrumental in CEO Steve Ballmer’s exit. Mason Morfit, president of ValueAct Capital, was appointed to Microsoft’s board of directors in March. The fund also nominated directors in Adobe Systems Inc. and Motorola Solutions Inc.

The fund is focused on the long term. It works with the company’s management and board to bring about change from the inside.

The next part of this series will highlight amendments to ValueAct’s stake in Dresser-Rand.

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