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Jeff Ubben Steps Aside: Time To Short All ValueAct Holdings

Jeff Ubben, the renowned gentleman activist investor, is stepping away from the day-to-day activities at his ValueAct Capital activist hedge fund. Ubben has been out of the spotlight, choosing as much. However, has performance has been more than impressive - some 15% a year annualized.

The role of CIO goes to Mason Morfit, ValueAct’s second employee and long-time right hand of Ubben. However, few firms actually succeed with a succession plan. We shall see.

Ubben will focus on finding new investments for ValueAct and will also serve on portfolio company boards. Yet, finding new investments might prove difficult given the rich valuations in the market. ValueAct starting selling holdings recently to raise over $3 billion in cash given stocks are too expensive. So Ubben does have some dry powder to work with.

In recognition - here’s one of our most famous pieces, Meet Jeff Ubben.