Aug. 14 at 10:25 PM
ValueAct Holdings significantly increased its exposure to Spotify during the second quarter, raising its stake by 46.9% to 526,800 shares, according to a Friday SEC filing. The move represents a notable increase in the activist investment firm’s conviction in the music-streaming platform compared with the previous quarter.
ValueAct also expanded its position in KKR by 8.5%, bringing its holdings to roughly 3.6M shares as of June 30. The increase adds to the firm’s exposure to the alternative-asset-management sector, while its Spotify investment points to continued interest in companies with strong recurring revenue and long-term growth potential.
Meanwhile, ValueAct reported holding 2.2M sponsored ADSs of PayPal, with no increase specified in the filing. The latest disclosures compare with the portfolio as of March 31 and provide a snapshot of the firm’s investment decisions during Q2.
$SPOT $KKR $PYPL