ValueAct Holdings Trims Insight Enterprises by $99 Million as Enterprise IT Budgets Tighten

What happened

According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, ValueAct Holdings, L.P. sold 1,055,147 shares of Insight Enterprises (NASDAQ:NSIT) during the fourth quarter of 2025. The estimated transaction value was $98.95 million. At quarter-end, the fund held 1,216,592 shares valued at $99.12 million. The net position decreased by roughly $158.52 million.

What else to know

This was a sell; NSIT now accounts for 1.41% of ValueAct’s 13F U.S. equity assets

Top holdings after the filing:

• NYSE:CRM: $793.28 million (11.3% of AUM)
• NASDAQ:AMZN: $783.47 million (11.2% of AUM)
• NYSE:RKT: $762.41 million (10.9% of AUM)
• NYSE:BLK: $743.89 million (10.6% of AUM)
• NASDAQ:META: $691.76 million (9.8% of AUM)

As of February 17, 2026, shares were priced at $83.00, down 50.6% over the prior year and underperforming the S&P 500 by 61.79 percentage points

Company overview

Metric	Value
Price (as of market close 2/17/26)	$83.00
Market Capitalization	$2.63 billion
Revenue (TTM)	$8.25 billion
Net Income (TTM)	$157.35 million

Company snapshot

Insight Enterprises is a global technology distributor and solutions provider with a diversified portfolio spanning IT hardware, software, and managed services. The company's scale enables it to deliver end-to-end digital transformation solutions, leveraging expertise in cloud, data, and intelligent applications.

The company provides IT hardware, software, and services solutions, including cloud enablement, data and AI, DevOps, digital strategy, intelligent applications, and IoT.

Insight Enterprises operates a solutions-based business model, generating revenue through the design, procurement, deployment, and management of integrated IT systems and services for enterprises.

Insight Enterprises serves enterprise clients across industries such as construction technology, financial services, healthcare, manufacturing, retail, and small to medium businesses globally.

What this transaction means for investors

Insight Enterprises’ stock has fallen about 50% in the past year. This drop has lowered its valuation and led some to question how strong enterprise IT spending will be going forward. As the stock resets, ValueAct Holdings trimmed roughly $99 million from its position while remaining invested in a smaller stake.

Insight Enterprises is not a high-growth software name. Its revenue model is centered on sourcing and managing IT systems for enterprise clients. This includes hardware, cloud infrastructure, data solutions. Because a large portion of revenue comes from product resale, margins are thinner and more sensitive to shifts in corporate spending than pure software peers. When businesses slow capital expenditures, revenue and profitability can compress quickly.

For investors, the key metric to monitor moving forward is whether corporate technology spending is beginning to stabilize and whether Insight can generate a larger share of its profit from cloud and managed services instead of hardware resale. Revenue growth and profitability will determine how durable the business proves to be in a slower-spending environment. Ultimately, Insight’s path forward depends on a rebound in enterprise IT spending and its ability to turn that demand into consistent cash flow.

Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon, Meta Platforms, Rocket Companies, and Salesforce. The Motley Fool recommends BlackRock. The Motley Fool has a disclosure policy.