ValueAct Capital: Platform Profile

Overview

ValueAct Capital is a San Francisco-based concentrated, long-term investment manager known for constructive engagement with portfolio-company management teams and boards. The firm emphasizes a small number of core investments, multi-year holding periods and board-level involvement rather than frequent public proxy fights.

Its current public site describes more than two decades of operations, over 120 core investments and service on more than 45 public-company boards.

May fit better for

• investors seeking concentrated fundamental equity exposure;
• allocators comfortable with activist or engaged ownership;
• investors with multi-year horizons;
• users comfortable with high company-specific concentration;
• qualified investors able to evaluate private hedge-fund structures.

May fit less well for

• investors seeking broad market diversification;
• users wanting high-turnover trading strategies;
• retail investors seeking public self-service private-fund access;
• users who interpret a small 13F holding count as low risk;
• investors expecting one universal minimum across all ValueAct vehicles.

ValueAct is SEC registered

• Legal adviser: ValueAct Capital Management, L.P.
• CRD: 154249
• SEC number: 801-71658
• SEC registration effective: 2010-08-02
• SEC registered investment adviser: Yes

Regulatory AUM is $11.281B

Current March 30, 2026 regulatory disclosures show:

• Regulatory AUM: $11.281B
• Regulatory AUM as of: 2026-03-30
• Discretionary AUM: $11.281B
• Client accounts: 18
• Pooled vehicle share of clients: 100%
• Employees: 31

All reported RAUM is discretionary.

Private-fund gross assets are approximately $12.7B

Current Form-ADV-derived fund data:

• Private fund GAV: $12.7B
• Private fund count: 13
• Fund type: hedge funds

Representative vehicles include:

• ValueAct Capital Master Fund GAV: $9.0B
• ValueAct Japan Master Fund GAV: $1.9B
• ValueAct Spring Master Fund GAV: $825M

Q2 2026 13F value is $5.635B

ValueAct Capital Management files a 13F notice while ValueAct Holdings reports the combined holdings.

Current combined report:

• Q2 2026 13F value: $5.635B
• Q2 2026 13F as of: 2026-06-30
• Q2 2026 13F entry count: 18
• 13F reporting structure: ValueAct Holdings combination report with ValueAct Capital Management

Public investment style is concentrated and long term

Current first-party site supports:

• Long term: Yes
• High quality companies: Yes
• Data driven insights: Yes
• Management and board engagement: Yes
• Core investments: 120+
• Public company board seats: 45+
• Typical holding period: 3-5 years
• Occasional holding period: 10 years or more

ValueAct presents engagement as partnership with management and boards.

Vehicle minimums vary

Current fund data include materially different reported minimums:

• ValueAct Capital Master Fund minimum: $5M
• ValueAct Strategic Global Master Fund minimum: $50M
• ValueAct Strategic Master Fund v minimum: $10M

Historical brochure material has also described a general $10M minimum for many private funds, subject to discretion and exceptions.

The range itself proves that one minimum cannot describe every ValueAct vehicle.

Assessment

ValueAct is a concentrated engaged-ownership manager, so the 13F is informative about public-company positions but still not equivalent to firm assets.

The current measures are $11.281B regulatory AUM, about $12.7B private-fund GAV and $5.635B of Q2 reportable long securities.