Jeffrey Ubben - ValueAct Holdings 13F Activity & Position Changes (Q1 2016)

As of Mar 31, 2016, the ValueAct Holdings portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 15, 2026. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2016, the filing reported:

New Buys - Bread Financial Holdings, Inc., Willis Towers Watson

Increases - CBRE Group Inc

Reductions - Adobe Inc., MSCI Inc., Motorola Solutions, Inc.

Complete Exits - Halliburton Company

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2016	ADBE Adobe Inc.	Adobe Inc.	Sell	-14,004,739	-100.0%	$563.00	6,000
Q1 2016	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Buy - Position Entry	+541,115	-	$119.05K	541,115
Q1 2016	CBRE CBRE Group Inc	CBRE Group Inc	Buy	+1,604,500	+5.1%	$949.10K	32,931,905
Q1 2016	HAL Halliburton Company	Halliburton Company	Sell - Position Exit	-16,504,295	-100.0%	$0.00	-
Q1 2016	MSCI MSCI Inc.	MSCI Inc.	Sell	-2,266,411	-35.8%	$300.83K	4,060,900
Q1 2016	MSI Motorola Solutions, Inc.	Motorola Solutions, Inc.	Sell	-9,375,000	-53.3%	$621.77K	8,213,576
Q1 2016	WTW Willis Towers Watson	Willis Towers Watson	Buy - Position Entry	+7,680,015	-	$911.31K	7,680,015