13F filing recap · Q3 2016

What did ValueAct Capital buy in Q3 2016?

Reported stock-position changes between this filing and the previous one.

Stock value

$11.49B

Positions

Estimated turnover

23.2%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Increased positions

MSMorgan Stanley$1.34Breported value+3.90M shares+10.3%FOXATwenty-First Century Fox, Inc.$1.25Breported value+3.00M shares+6.3%BFHBread Financial Holdings, Inc.$1.07Breported value+1.71M shares+52.1%CBRECbre Group, Inc.$968.67Mreported value+1.68M shares+5.1%STXSeagate Technology Holdings Plc$367.75Mreported value+6.54M shares+218.0%TRNTrinity Industries Inc$300.34Mreported value+6.42M shares+107.0%

Reduced positions

MSFTMicrosoft Corporation$2.22Breported value-18.00M shares-31.8%BKRBaker Hughes Co$1.51Breported value-9.00M shares-23.1%

Exited positions

MSCIMsci Inc.$100.33Mprior reported value-1.30M shares-100.0%