ValueAct Capital is a value fund founded and managed by Jeffrey Ubben that makes large investments in a relatively small number of companies that it believes are deeply undervalued. It usually only makes a few new investments per year and tends to hold investment for about three years. ValueAct was founded in 2000 to manage capital for founders and a select group of investors but has grown steadily since then. It now has $11.1 billion invested in 14 stocks, up from $7 billion last year and $9.7 billion last quarter. ValueAct’s new positions: ALSN, MOS, VLO ValueAct opened a position…