ValueAct Holdings’s Willis Towers Watson WTW Stock Holding History

ValueAct Holdings’s Portfolio WTW Stock Details WTW Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2017 Q4	–	Sell	-2,980,008	Closed	-$460M	–	15
2017 Q3	$460M	Sell	2,980,008 -3,629,350	-55%	-$542M	4.61%	11
2017 Q2	$961M	Sell	6,609,358 -1,498,657	-18%	-$209M	8.59%	6
2017 Q1	$1.06B	Hold	8,108,015	–	–	8.88%	6
2016 Q4	$991M	Hold	8,108,015	–	–	8.14%	7
2016 Q3	$1.08B	Hold	8,108,015	–	–	9.37%	5
2016 Q2	$1.01B	Buy	8,108,015 +428,000	+6%	+$52.8M	9.15%	4
2016 Q1	$911M	Buy	7,680,015 +725,017	+10%	+$83.5M	9.1%	5
2015 Q4	$895M	Hold	6,954,998	–	–	6.19%	8
2015 Q3	$755M	Hold	6,954,998	–	–	4.39%	11
2015 Q2	$864M	Hold	6,954,998	–	–	4.55%	10
2015 Q1	$888M	Hold	6,954,998	–	–	4.91%	9
2014 Q4	$826M	Hold	6,954,998	–	–	5.17%	8
2014 Q3	$763M	Buy	6,954,998 +466	+0%	+$51.8K	5.11%	8
2014 Q2	$798M	Hold	6,954,532	–	–	5.9%	7
2014 Q1	$813M	Buy	6,954,532 +78,483	+1%	+$8.93M	6.14%	7
2013 Q4	$816M	Hold	6,876,049	–	–	6.75%	7
2013 Q3	$789M	Hold	6,876,049	–	–	7.12%	6
2013 Q2	$743M	Buy	+6,876,049	New	+$728M	7.63%	6

Other funds holding WTW

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

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

Harris Associates Chicago, Illinois $75B AUM 11.27% 1-Year Est. Return

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

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

Longview Partners St Peter Port, Guernsey $7.06B AUM 3.43% 1-Year Est. Return

Capital Research Global Investors Los Angeles, California $645B AUM 30.41% 1-Year Est. Return

First Eagle Investment Management New York $59B AUM 32.99% 1-Year Est. Return

Fidelity International Hamilton, Bermuda $129B AUM 30.83% 1-Year Est. Return

CCM

Cantillon Capital Management New York $15.1B AUM 23.54% 1-Year Est. Return

ValueAct Holdings's WTW Position: Q4 2017 in Review

ValueAct Holdings sold out of Willis Towers Watson (WTW) in Q4 2017, closing a stake of 2,980,008 shares — an estimated $460M sold.

ValueAct Holdings first reported a position in WTW in Q2 2013 and held it in 18 quarters. The position peaked at $1.08B in Q3 2016. 433 funds tracked by Wall St. Rank hold WTW as of Q4 2017.

ValueAct Holdings reported no remaining Willis Towers Watson position as of Q4 2017 after selling out during the quarter.
ValueAct Holdings sold 2,980,008 Willis Towers Watson shares in Q4 2017, an estimated $460M.
ValueAct Holdings first reported a position in Willis Towers Watson in Q2 2013 and held it in 18 quarters.
ValueAct Holdings's Willis Towers Watson position peaked at $1.08B in Q3 2016.
433 funds tracked by Wall St. Rank held Willis Towers Watson as of Q4 2017.

Based on ValueAct Holdings's 13F filing for Q4 2017, filed 15 Feb 2018.