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

According to the SEC 13F filed on Aug 14, 2026, the ValueAct Holdings portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2016. 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