Jeffrey Ubben - ValueAct Holdings 13F Activity & Position Changes (Q2 2016)

As of Jun 30, 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 Q2 2016, the filing reported:

New Buys - Morgan Stanley, Trinity Industries, Inc.

Increases - Bread Financial Holdings, Inc., CBRE Group Inc, Microsoft Corporation, Willis Towers Watson

Reductions - MSCI Inc.

Complete Exits - Adobe Inc., Motorola Solutions, Inc.

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 2016	ADBE Adobe Inc.	Adobe Inc.	Sell - Position Exit	-6,000	-100.0%	$0.00	-
Q2 2016	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Buy	+2,746,795	+507.6%	$644.17K	3,287,910
Q2 2016	CBRE CBRE Group Inc	CBRE Group Inc	Buy	+3,889	+0.0%	$872.14K	32,935,794
Q2 2016	MS Morgan Stanley	Morgan Stanley	Buy - Position Entry	+38,000,000	-	$987.24K	38,000,000
Q2 2016	MSCI MSCI Inc.	MSCI Inc.	Sell	-2,760,000	-68.0%	$100.33K	1,300,900
Q2 2016	MSFT Microsoft Corporation	Microsoft Corporation	Buy	+908	+0.0%	$2.90M	56,624,678
Q2 2016	MSI Motorola Solutions, Inc.	Motorola Solutions, Inc.	Sell - Position Exit	-8,213,576	-100.0%	$0.00	-
Q2 2016	TRN Trinity Industries, Inc.	Trinity Industries, Inc.	Buy - Position Entry	+6,000,000	-	$111.42K	6,000,000
Q2 2016	WTW Willis Towers Watson	Willis Towers Watson	Buy	+428,000	+5.6%	$1.01M	8,108,015