Jeff Ubben's ValueAct Bet On Meta, Visa, And Exited Spotify In Q3: A Clever Move?

In the dynamic world of hedge funds, one name consistently stands out: ValueAct Capital, led by the enigmatic Jeff Ubben. Known for its collaborative and constructivist approach, ValueAct made waves in Q3 2023 with its strategic investments in Meta Platforms (META) and Visa (V), while exiting its position in Spotify (SPOT). Let's dive into the numbers and analyze whether this was a clever move.



ValueAct added shares in Meta Platforms, Visa, and Live Nation Entertainment (LYV) while exiting Spotify. Here's how these investments have performed since Q3:

| Investment | Units Added/Exited | Share Price on Nov. 14 ($) | Price Today ($) | Percentage Change | Value on Nov. 14 ($) | Value as of Feb. 5 ($) | Gains/Losses ($) |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Meta | 211,500 | 577.16 | 704.87 | 22.3% | 122.07 million | 150.23 million | +28 million |
| Visa | 373,600 | 308.25 | 349.44 | 13.3% | 115.16 million | 130.09 million | +15 million |
| Live Nation | 1,010,000 | 129.19 | 150.61 | 16.6% | 131.08 million | 150.61 million | +20 million |
| Spotify (Exited) | 676,553 | 477.50 | 418.04 | -12.5% | 302.76 million | 418.04 million | +115 million |

ValueAct's investments in Meta and Visa have seen notable price changes and performance, aligning with the firm's event-driven activist investment strategy. The firm's collaborative approach to influencing corporate policy and enhancing company value has resulted in significant gains for its investments in Meta Platforms, Visa Inc., and Live Nation Entertainment.

In conclusion, ValueAct's Q3 portfolio adjustments, particularly its investments in Meta and Visa, have proven to be a clever move. The firm's collaborative and constructivist approach has driven significant gains for these investments, demonstrating the effectiveness of ValueAct's event-driven investment strategy.