Jeffrey Ubben - ValueAct Holdings 13F Activity & Position Changes (Q3 2017)

As of Sep 30, 2017, 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 Q3 2017, the filing reported:

New Buys - Baker Hughes Company

Increases - Armstrong World Industries Inc, KKR & Co. Inc., Trinity Industries, Inc.

Reductions - CBRE Group Inc, Microsoft Corporation, Willis Towers Watson

Complete Exits - NetScout Systems, 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
Q3 2017	AWI Armstrong World Industries Inc	Armstrong World Industries Inc	Buy	+2,612	+0.0%	$471.63K	9,202,612
Q3 2017	BKR Baker Hughes Company	Baker Hughes Company	Buy - Position Entry	+31,407,820	-	$1.15M	31,407,820
Q3 2017	CBRE CBRE Group Inc	CBRE Group Inc	Sell	-5,500,000	-16.0%	$1.09M	28,878,480
Q3 2017	KKR KKR & Co. Inc.	KKR & Co. Inc.	Buy	+40,555,916	+811.1%	$926.15K	45,555,916
Q3 2017	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-6,999,325	-43.7%	$671.41K	9,013,474
Q3 2017	NTCT NetScout Systems, Inc.	NetScout Systems, Inc.	Sell - Position Exit	-1,750,943	-100.0%	$0.00	-
Q3 2017	TRN Trinity Industries, Inc.	Trinity Industries, Inc.	Buy	+1,672,510	+10.7%	$550.44K	17,255,115
Q3 2017	WTW Willis Towers Watson	Willis Towers Watson	Sell	-3,629,350	-54.9%	$459.61K	2,980,008