Jeffrey Ubben - ValueAct Holdings Portfolio

Name: Investment Portfolio Data
License: https://creativecommons.org/licenses/by/4.0/

Period Date		Mar 31, 2025
Filing Date		May 15, 2025
Total Stocks		14
Portfolio Value		$4.58B

ValueAct Holdings Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q1 2021Mar 31, 2021	NSIT Insight Enterprises, Inc.	Insight Enterprises, Inc.	Buy - Position Entry	+1,100,000	$104.96K	1,100,000
Q1 2021Mar 31, 2021	FI Fiserv, Inc.	Fiserv, Inc.	Buy	+531,719+162.0%	$102.37K	860,000
Q1 2021Mar 31, 2021	BLD TopBuild Corp.	TopBuild Corp.	Buy - Position Entry	+221,770	$46.45K	221,770
Q1 2021Mar 31, 2021	OUT OUTFRONT Media Inc.	OUTFRONT Media Inc.	Buy - Position Entry	+157,448	$3.44K	157,448
Q1 2021Mar 31, 2021	CDW CDW Corporation	CDW Corporation	Sell - Position Exit	-368,116-100.0%	$0.00	-
Q1 2021Mar 31, 2021	TRN Trinity Industries, Inc.	Trinity Industries, Inc.	Sell	-3,900,000-14.4%	$658.29K	23,105,855
Q1 2021Mar 31, 2021	C Citigroup, Inc.	Citigroup, Inc.	Sell	-5,301,781-19.6%	$1.58M	21,723,719
Q1 2021Mar 31, 2021	SLM SLM Corporation	SLM Corporation	Sell	-6,000,000-18.6%	$472.51K	26,294,254
Q1 2021Mar 31, 2021	KKR KKR & Co. Inc.	KKR & Co. Inc.	Sell	-6,465,328-17.0%	$1.54M	31,584,672
Q1 2021Mar 31, 2021	MS Morgan Stanley	Morgan Stanley	Sell - Position Exit	-8,283,722-100.0%	$0.00	-
Q4 2020Dec 31, 2020	FI Fiserv, Inc.	Fiserv, Inc.	Buy - Position Entry	+328,281	$37.38K	328,281
Q4 2020Dec 31, 2020	CDW CDW Corporation	CDW Corporation	Buy	+128,503+53.6%	$48.51K	368,116
Q4 2020Dec 31, 2020	BHC Bausch Health Companies Inc.	Bausch Health Companies Inc.	Buy	+10,009+0.1%	$373.19K	17,941,603
Q4 2020Dec 31, 2020	AOS A.O. Smith Corporation	A.O. Smith Corporation	Sell - Position Exit	-2,092,510-100.0%	$0.00	-
Q4 2020Dec 31, 2020	MS Morgan Stanley	Morgan Stanley	Sell	-3,216,278-28.0%	$567.68K	8,283,722
Q4 2020Dec 31, 2020	KKR KKR & Co. Inc.	KKR & Co. Inc.	Sell	-6,950,000-15.4%	$1.54M	38,050,000
Q3 2020Sep 30, 2020	CDW CDW Corporation	CDW Corporation	Buy - Position Entry	+239,613	$28.64K	239,613
Q3 2020Sep 30, 2020	STRA Strategic Education, Inc.	Strategic Education, Inc.	Sell - Position Exit	-591,375-100.0%	$0.00	-
Q3 2020Sep 30, 2020	UFI Unifi, Inc. New	Unifi, Inc. New	Sell - Position Exit	-1,417,054-100.0%	$0.00	-
Q3 2020Sep 30, 2020	BP BP p.l.c.	BP p.l.c.	Sell - Position Exit	-2,572,000-100.0%	$0.00	-
Q3 2020Sep 30, 2020	DAR Darling Ingredients Inc.	Darling Ingredients Inc.	Sell - Position Exit	-2,640,000-100.0%	$0.00	-
Q3 2020Sep 30, 2020	MS Morgan Stanley	Morgan Stanley	Sell	-2,750,000-19.3%	$556.02K	11,500,000
Q3 2020Sep 30, 2020	HE Hawaiian Electric Industries, I	Hawaiian Electric Industries, I	Sell - Position Exit	-3,246,668-100.0%	$0.00	-
Q3 2020Sep 30, 2020	LIND Lindblad Expeditions Holdings I	Lindblad Expeditions Holdings I	Sell - Position Exit	-4,923,247-100.0%	$0.00	-
Q3 2020Sep 30, 2020	AES The AES Corporation	The AES Corporation	Sell - Position Exit	-5,346,500-100.0%	$0.00	-
Q3 2020Sep 30, 2020	VRRM Verra Mobility Corporation	Verra Mobility Corporation	Sell - Position Exit	-5,905,000-100.0%	$0.00	-
Q2 2020Jun 30, 2020	AES The AES Corporation	The AES Corporation	Buy	+1,000,000+23.0%	$77.47K	5,346,500
Q2 2020Jun 30, 2020	CBRE CBRE Group Inc	CBRE Group Inc	Buy	+4,228+0.0%	$462.59K	10,229,820
Q2 2020Jun 30, 2020	STRA Strategic Education, Inc.	Strategic Education, Inc.	Sell	-58,625-9.0%	$90.86K	591,375
Q2 2020Jun 30, 2020	BP BP p.l.c.	BP p.l.c.	Sell	-200,000-7.2%	$59.98K	2,572,000

Page 6 of 14 • 406 total trades

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