Jeffrey Ubben - ValueAct Holdings 13F Activity & Position Changes (Q2 2014)

According to the SEC 13F filed on Aug 14, 2026, the ValueAct Holdings portfolio showed several notable changes in holdings as of quarter-end Jun 30, 2014. 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 Q2 2014, the filing reported:

New Buys - Armstrong World Industries Inc

Increases - CBRE Group Inc, MSCI Inc., Microsoft Corporation

Reductions - Adobe Inc., Expeditors International of Was

Complete Exits - None reported

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
Q2 2014	ADBE Adobe Inc.	Adobe Inc.	Sell	-750,000	-3.0%	$1.78M	24,560,116
Q2 2014	AWI Armstrong World Industries Inc	Armstrong World Industries Inc	Buy - Position Entry	+2,700,000	-	$155.06K	2,700,000
Q2 2014	CBRE CBRE Group Inc	CBRE Group Inc	Buy	+3,085	+0.0%	$1.03M	32,165,849
Q2 2014	EXPD Expeditors International of Was	Expeditors International of Was	Sell	-1,281,336	-58.6%	$39.98K	905,364
Q2 2014	MSCI MSCI Inc.	MSCI Inc.	Buy	+1,208,171	+14.9%	$428.30K	9,341,288
Q2 2014	MSFT Microsoft Corporation	Microsoft Corporation	Buy	+2,951,112	+4.1%	$3.10M	74,236,642