13F filing recap · Q1 2018

What did ValueAct Capital buy in Q1 2018?

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

Stock value

$9.97B

Positions

Estimated turnover

24.8%

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.

New positions

SLMSlm Corp$82.95Mreported value+7.40M shares

Increased positions

CCitigroup Inc$1.09Breported value+15.10M shares+1372.7%KKRKkr & Co. Inc.$1.01Breported value+1.95M shares+4.1%TRNTrinity Industries Inc$698.54Mreported value+2.80M shares+15.1%VRXValeant Pharmaceuticals International, Inc.$286.74Mreported value+1.5K shares

Reduced positions

CBRECbre Group, Inc.$940.48Mreported value-5.00M shares-20.1%AWIArmstrong World Industries, Inc.$385.80Mreported value-2.35M shares-25.5%

Exited positions

MSFTMicrosoft Corporation$771.06Mprior reported value-9.01M shares-100.0%ESRXExpress Scripts Holding Co$89.57Mprior reported value-1.20M shares-100.0%