13F filing recap · Q4 2018

What did ValueAct Capital buy in Q4 2018?

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

Stock value

$8.03B

Positions

Estimated turnover

13.4%

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

ACAArcosa, Inc.$197.59Mreported value+7.14M shares DARDarling Ingredients Inc.$13.09Mreported value+180.3K shares ARMKAramark$9.54Mreported value+229.2K shares BEBloom Energy Corporation$4.49Mreported value+250.0K shares

Increased positions

CCitigroup Inc$1.64Breported value+5.30M shares+20.2%STXSeagate Technology Holdings Plc$1.05Breported value+898.6K shares+3.4%MSMorgan Stanley$1.04Breported value+5.42M shares+26.0%KKRKkr & Co. Inc.$995.24Mreported value+1.00M shares

Reduced positions

BFHBread Financial Holdings, Inc.$781.56Mreported value-875.0K shares-14.4%AWIArmstrong World Industries, Inc.$130.68Mreported value-2.98M shares-57.0%

Exited positions

XRAYDentsply Sirona Inc.$83.03Mprior reported value-2.20M shares-100.0%SYMCSymantec Corporation$10.64Mprior reported value-500.0K shares-100.0%