Jeffrey Ubben - ValueAct Holdings 13F Activity & Position Changes (Q3 2018)

As of Sep 30, 2018, 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 2018, the filing reported:

New Buys - Bausch Health Companies Inc., Hawaiian Electric Industries, I, Strategic Education, Inc., DENTSPLY SIRONA Inc.

Increases - Citigroup, Inc., Morgan Stanley, SLM Corporation

Reductions - Armstrong World Industries Inc

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
Q3 2018	AWI Armstrong World Industries Inc	Armstrong World Industries Inc	Sell	-1,627,702	-23.8%	$363.65K	5,224,910
Q3 2018	BHC Bausch Health Companies Inc.	Bausch Health Companies Inc.	Buy - Position Entry	+18,033,149	-	$462.91K	18,033,149
Q3 2018	C Citigroup, Inc.	Citigroup, Inc.	Buy	+1,050,000	+4.2%	$1.88M	26,225,500
Q3 2018	HE Hawaiian Electric Industries, I	Hawaiian Electric Industries, I	Buy - Position Entry	+1,197,261	-	$42.61K	1,197,261
Q3 2018	MS Morgan Stanley	Morgan Stanley	Buy	+2,100,850	+11.2%	$969.14K	20,810,470
Q3 2018	SLM SLM Corporation	SLM Corporation	Buy	+1,578,846	+4.2%	$436.90K	39,184,254
Q3 2018	STRA Strategic Education, Inc.	Strategic Education, Inc.	Buy - Position Entry	+242,141	-	$33.18K	242,141
Q3 2018	XRAY DENTSPLY SIRONA Inc.	DENTSPLY SIRONA Inc.	Buy - Position Entry	+2,200,000	-	$83.03K	2,200,000