Jeffrey Ubben - ValueAct Holdings 13F Activity & Position Changes (Q3 2019)

As of Sep 30, 2019, 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 2019, the filing reported:

New Buys - LKQ Corporation, Pacific Gas & Electric Co.

Increases - The AES Corporation, Darling Ingredients Inc., Hawaiian Electric Industries, I, Strategic Education, Inc., Trinity Industries, Inc., and 1 more

Reductions - Arcosa, Inc., Citigroup, Inc., CBRE Group Inc, KKR & Co. Inc., Lindblad Expeditions Holdings I, and 2 more

Complete Exits - Booking Holdings Inc. Common St, Edison International, XPO, 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 2019	ACA Arcosa, Inc.	Arcosa, Inc.	Sell	-2,663,698	-62.8%	$53.96K	1,577,265
Q3 2019	AES The AES Corporation	The AES Corporation	Buy	+200,000	+4.8%	$71.02K	4,346,500
Q3 2019	BKNG Booking Holdings Inc. Common St	Booking Holdings Inc. Common St	Sell - Position Exit	-35,000	-100.0%	$0.00	-
Q3 2019	C Citigroup, Inc.	Citigroup, Inc.	Sell	-3,500,000	-11.1%	$1.94M	28,025,500
Q3 2019	CBRE CBRE Group Inc	CBRE Group Inc	Sell	-3,000,000	-22.7%	$542.06K	10,225,592
Q3 2019	DAR Darling Ingredients Inc.	Darling Ingredients Inc.	Buy	+512,472	+29.7%	$42.85K	2,240,000
Q3 2019	EIX Edison International	Edison International	Sell - Position Exit	-700,000	-100.0%	$0.00	-
Q3 2019	HE Hawaiian Electric Industries, I	Hawaiian Electric Industries, I	Buy	+445,000	+37.8%	$73.92K	1,620,747
Q3 2019	KKR KKR & Co. Inc.	KKR & Co. Inc.	Sell	-2,600,000	-5.1%	$1.29M	48,100,000
Q3 2019	LIND Lindblad Expeditions Holdings I	Lindblad Expeditions Holdings I	Sell	-152,110	-5.0%	$47.94K	2,860,188
Q3 2019	LKQ LKQ Corporation	LKQ Corporation	Buy - Position Entry	+16,032,718	-	$504.23K	16,032,718
Q3 2019	MS Morgan Stanley	Morgan Stanley	Sell	-3,978,561	-15.2%	$949.41K	22,250,000
Q3 2019	PCG Pacific Gas & Electric Co.	Pacific Gas & Electric Co.	Buy - Position Entry	+1,444,800	-	$14.45K	1,444,800
Q3 2019	PSN Parsons Corporation	Parsons Corporation	Sell	-1,507,000	-83.5%	$9.83K	298,000
Q3 2019	STRA Strategic Education, Inc.	Strategic Education, Inc.	Buy	+267,000	+114.2%	$68.04K	500,765
Q3 2019	TRN Trinity Industries, Inc.	Trinity Industries, Inc.	Buy	+661,698	+3.0%	$444.01K	22,561,698
Q3 2019	UFI Unifi, Inc. New	Unifi, Inc. New	Buy	+118,652	+9.1%	$31.06K	1,417,054
Q3 2019	XPO XPO, Inc.	XPO, Inc.	Sell - Position Exit	-1,000,000	-100.0%	$0.00	-