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Funds (13F)

Valueact Holdings, L.P.

Backtest from 16 Aug 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+14.6%
S&P 500 +14.1%
Last 12 months
−5.5%
S&P 500 +12.1%
Sharpe ratio
0.60
S&P 500 0.78
Biggest drop
−46.5%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $60.2k$57.0k
Valueact Holdings, L.P.S&P 500 $10,000 in Valueact Holdings, L.P. from 16 Aug 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Valueact Holdings, L.P.'s quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Valueact Holdings, L.P.'s 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+14.6%+14.1%
Total return+502%+470%
Last 12 months−5.5%+12.1%
Last 3 months+9.9%—
Last month+6.0%—
This year so far−4.0%—
Volatility a year24.2%16.0%
Sharpe ratio0.600.78
Biggest drop−46.5%−31.8%
Beta to the S&P 5001.301.00
Alpha a year (t-statistic)−1.7% (−0.49)—
Share of weeks up57%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
V14.3%——
AMZN12.6%——
RKT11.8%——
BLK10.1%——
META9.3%——
CRM8.4%——
TOST7.1%——
KKR5.9%——
SPOT4.3%——
LLYVK4.1%——
SSD3.1%——
RBLX3.1%——
CBRE2.4%——
MDB1.0%——
LYV1.0%——
WIX0.8%——
PAYP0.6%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest16 Aug 2013 to 2 Nov 2026+14.6%+14.1%0.600.78−46.5%1.30−1.7% (−0.49)
2018 onwards5 Jan 2018 to 2 Nov 2026+10.2%+13.9%0.390.66−46.5%1.32−4.9% (−1.04)
Last three years3 Nov 2023 to 2 Nov 2026+18.5%+21.8%0.681.16−28.6%1.25−5.3% (−0.68)
Last year7 Nov 2025 to 2 Nov 2026−2.2%+14.2%−0.170.84−25.1%1.37−17.4% (−1.19)
DateCompanyAction
21 Aug 2026PAYPBought
22 May 2026WIXBought
22 May 2026SPOTBought
22 May 2026KKRBought
20 Feb 2026LLYVKBought
20 Feb 2026BLKBought
21 Nov 2025TOSTBought
15 Aug 2025SSDBought
15 Aug 2025MDBBought
15 Aug 2025CCCBought
15 Aug 2025CBREBought
16 May 2025RKTBought
16 May 2025NUBought
21 Feb 2025AMZNBought
22 Nov 2024VBought
22 Nov 2024TOSTBought
22 Nov 2024RBLXBought
22 Nov 2024NSITBought
22 Nov 2024METABought
22 Nov 2024LYVBought
22 Nov 2024EXPEBought
22 Nov 2024DISBought
22 Nov 2024CRMBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026DISSold
22 May 2026NSITSold
21 Nov 2025EXPESold
21 Nov 2025CCCSold
15 Aug 2025TOSTSold
15 Aug 2025NUSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest