ValueAct Holdings’s MSCI MSCI Stock Holding History

ValueAct Holdings’s Portfolio MSCI Stock Details MSCI Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2016 Q3	–	Sell	-1,300,900	Closed	-$100M	–	14
2016 Q2	$100M	Sell	1,300,900 -2,760,000	-68%	-$209M	0.91%	12
2016 Q1	$301M	Sell	4,060,900 -2,266,411	-36%	-$157M	3%	10
2015 Q4	$456M	Sell	6,327,311 -2,982,000	-32%	-$199M	3.16%	12
2015 Q3	$554M	Buy	9,309,311 +351	+0%	+$22.1K	3.22%	12
2015 Q2	$573M	Hold	9,308,960	–	–	3.02%	12
2015 Q1	$571M	Hold	9,308,960	–	–	3.15%	12
2014 Q4	$442M	Hold	9,308,960	–	–	2.77%	13
2014 Q3	$438M	Sell	9,308,960 -32,328	-0.3%	-$1.49M	2.93%	12
2014 Q2	$428M	Buy	9,341,288 +1,208,171	+15%	+$52M	3.17%	9
2014 Q1	$350M	Buy	8,133,117 +679,000	+9%	+$29.6M	2.64%	9
2013 Q4	$326M	Buy	7,454,117 +60,100	+0.8%	+$2.53M	2.7%	10
2013 Q3	$298M	Buy	7,394,017 +1,193,395	+19%	+$44.6M	2.69%	10
2013 Q2	$206M	Buy	+6,200,622	New	+$209M	2.12%	9

Other funds holding MSCI

Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

T. Rowe Price Associates Baltimore, Maryland $865B AUM 30.76% 1-Year Est. Return

JHIU

Janus Henderson Investors US Denver, Colorado $122B AUM 18.26% 1-Year Est. Return

BFA

BlackRock Fund Advisors San Francisco, California $542B AUM 18.13% 1-Year Est. Return

Wellington Management Group Boston, Massachusetts $535B AUM 26.23% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

BIT

BlackRock Institutional Trust San Francisco, California $675B AUM 16.07% 1-Year Est. Return

Fiera Capital (Canada) Montreal, Quebec, Canada $29.2B AUM 20.16% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

ValueAct Holdings's MSCI Position: Q3 2016 in Review

ValueAct Holdings sold out of MSCI (MSCI) in Q3 2016, closing a stake of 1,300,900 shares — an estimated $100M sold.

ValueAct Holdings first reported a position in MSCI in Q2 2013 and held it in 13 quarters. The position peaked at $573M in Q2 2015. 340 funds tracked by Wall St. Rank hold MSCI as of Q3 2016.

ValueAct Holdings reported no remaining MSCI position as of Q3 2016 after selling out during the quarter.
ValueAct Holdings sold 1,300,900 MSCI shares in Q3 2016, an estimated $100M.
ValueAct Holdings first reported a position in MSCI in Q2 2013 and held it in 13 quarters.
ValueAct Holdings's MSCI position peaked at $573M in Q2 2015.
340 funds tracked by Wall St. Rank held MSCI as of Q3 2016.

Based on ValueAct Holdings's 13F filing for Q3 2016, filed 15 Nov 2016.