About
ValueAct Capital, founded in 2000 by Jeff Ubben and based in San Francisco, manages about $10 billion and is known for collaborative, behind-the-scenes activism. Led by Co-CEOs Mason Morfit and Rob Hale—Morfit joined as the first analyst and became CEO in 2020; Hale was elevated in 2024 and leads the Japan franchise—the firm has held 50+ public company board seats and driven transformations at Microsoft, Salesforce, Adobe, 21st Century Fox, Olympus, and Motorola Solutions. ValueAct gained 12.5% in 2020 and 20% in H1 2023, consistently outperforming benchmarks through its long-term approach.
Investment Focus
ValueAct pursues a concentrated, long-term strategy with 10–18 core holdings, typically for 3–5 years and sometimes over 10. It practices transformational activism and engagement investing, combining deep due diligence with active, constructive value creation. Using a proprietary toolkit built from 50+ board experiences, it addresses compensation, finance, strategy/M&A, capital allocation, ESG, management selection, and investor relations, focusing on undervalued companies in transition.