((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))
(Added details on the company's position and other investments made by ValueAct) by Svea Herbst-Bayliss
ValueAct Capital took a billion-dollar stake in Meta Platforms
META.O but is not currently seeking major changes at the parent company of Facebook and Instagram, a source familiar with the matter told Reuters on Tuesday.
The stake, which ValueAct has grown in recent weeks, is now among the company's two largest, alongside its bet on cloud software maker Salesforce CRM.N .
The investment company and the technology company held discussions, but it was not specified at what level and what suggestions were made.
Meta is worth $1.5 trillion and the company's stock price barely moved following this news, which was first reported by CNBC.
The new stake is not seen as an activist stance in which ValueAct would pressure management and the board to make sweeping changes, the source said.
Later this week, investment managers will release their 13F filings, which show their positions in U.S. stocks as of the end of the third quarter, and the Meta stake will appear in ValueAct's filing. However, its size has increased significantly in recent weeks.
San Francisco-based ValueAct has already invested in Microsoft
MSFT.O, where she wanted the company to improve its performance, and gained a seat on the board of directors in 2013. Compared to other activist investors, ValueAct prides itself on working with the management and boards of administration out of the limelight and reach solutions without threatening the boards of directors with noisy challenges.
Meta did not immediately respond to a request for comment and ValueAct declined to comment.
