Jeffrey Ubben - ValueAct Holdings 13F Activity & Position Changes (Q1 2021)

As of Mar 31, 2021, the ValueAct Holdings portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 17, 2021. 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 2021, the filing reported:

New Buys - TopBuild Corp., Insight Enterprises, Inc., OUTFRONT Media Inc.

Increases - Fiserv, Inc.

Reductions - Citigroup, Inc., KKR & Co. Inc., SLM Corporation, Trinity Industries, Inc.

Complete Exits - CDW Corporation, Morgan Stanley

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 2021	BLD TopBuild Corp.	TopBuild Corp.	Buy - Position Entry	+221,770	-	$46.45K	221,770
Q1 2021	C Citigroup, Inc.	Citigroup, Inc.	Sell	-5,301,781	-19.6%	$1.58M	21,723,719
Q1 2021	CDW CDW Corporation	CDW Corporation	Sell - Position Exit	-368,116	-100.0%	$0.00	-
Q1 2021	FI Fiserv, Inc.	Fiserv, Inc.	Buy	+531,719	+162.0%	$102.37K	860,000
Q1 2021	KKR KKR & Co. Inc.	KKR & Co. Inc.	Sell	-6,465,328	-17.0%	$1.54M	31,584,672
Q1 2021	MS Morgan Stanley	Morgan Stanley	Sell - Position Exit	-8,283,722	-100.0%	$0.00	-
Q1 2021	NSIT Insight Enterprises, Inc.	Insight Enterprises, Inc.	Buy - Position Entry	+1,100,000	-	$104.96K	1,100,000
Q1 2021	OUT OUTFRONT Media Inc.	OUTFRONT Media Inc.	Buy - Position Entry	+157,448	-	$3.44K	157,448
Q1 2021	SLM SLM Corporation	SLM Corporation	Sell	-6,000,000	-18.6%	$472.51K	26,294,254
Q1 2021	TRN Trinity Industries, Inc.	Trinity Industries, Inc.	Sell	-3,900,000	-14.4%	$658.29K	23,105,855