ValueAct takes new stake in Toast, exits Expedia, boosts MongoDB stake

ValueAct disclosed in an SEC filing its holdings as of September 30, 2025. ValueAct’s one new buy during the third quarter was Toast (TOST). ValueAct exited two positions during the quarter, including by size of previous position, Expedia (EXPE) and CCC Intelligent Solutions (CCC). ValueAct increased its stake in four holdings, including by size of previous position, MongoDB (MDB), Rocket Companies (RKT), Meta (META), and Visa (V). ValueAct reduced its stake in a number of holdings, including by size of previous position, Insight Enterprises (NSIT), Disney (DIS), Amazon (AMZN), CBRE Group (CBRE), and Live Nation (LYV). ValueAct’s top holdings as of September 30, in order of size, were Amazon, Salesforce (CRM), MongoDB, Roblox (RBLX), and Meta.