Jeffrey Ubben - ValueAct Holdings 13F Activity & Position Changes (Q4 2016)

As of Dec 31, 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 Q4 2016, the filing reported:

New Buys - NetScout Systems, Inc.

Increases - Bread Financial Holdings, Inc., CBRE Group Inc, Microsoft Corporation, Trinity Industries, Inc.

Reductions - Allison Transmission Holdings, , Morgan Stanley

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
Q4 2016	ALSN Allison Transmission Holdings,	Allison Transmission Holdings,	Sell	-8,600,000	-45.0%	$354.59K	10,525,204
Q4 2016	BFH Bread Financial Holdings, Inc.	Bread Financial Holdings, Inc.	Buy	+246,500	+4.9%	$1.20M	5,246,500
Q4 2016	CBRE CBRE Group Inc	CBRE Group Inc	Buy	+7,253,196	+21.0%	$1.32M	41,873,250
Q4 2016	MS Morgan Stanley	Morgan Stanley	Sell	-14,999,000	-35.8%	$1.14M	26,901,000
Q4 2016	MSFT Microsoft Corporation	Microsoft Corporation	Buy	+1,819	+0.0%	$2.40M	38,626,497
Q4 2016	NTCT NetScout Systems, Inc.	NetScout Systems, Inc.	Buy - Position Entry	+1,645,000	-	$51.82K	1,645,000
Q4 2016	TRN Trinity Industries, Inc.	Trinity Industries, Inc.	Buy	+3,161,605	+25.5%	$432.57K	15,582,605