ValueAct Capital Portfolio – Holdings & Trades

Portfolio Concentration

Top 5: 56.1%

V 12.2600%

CRM 11.2900%

AMZN 11.1500%

RKT 10.8500%

BLK 10.5900%

Portfolio Holdings

Stock	%	Activity	Shares	Reported	Value	Current	+/-
Visa Inc.V	12.26%	Add 34.80%	2,316,250	$302.24	$0	$0	+0.00%
Salesforce.comCRM	11.29%	Add 3.31%	2,994,509	$264.91	$0	$0	+0.00%
Amazon.com Inc.AMZN	11.15%	Reduce 3.03%	3,394,300	$230.82	$0	$0	+0.00%
Rocket Companies Inc.RKT	10.85%	Add 55.07%	39,380,652	$19.36	$0	$0	+0.00%
BlackRock Inc.BLK	10.59%	Buy	695,000	$1,070.34	$0	$0	+0.00%
Amazon.com Inc.AMZN	10.52%	Reduce 15.02%	2,884,600	$208.27	$0	$0	+0.00%
Meta Platforms Inc.META	9.85%	Add 36.34%	1,047,974	$660.09	$0	$0	+0.00%
Salesforce.comCRM	9.79%		2,994,509	$186.67	$0	$0	+0.00%
BlackRock Inc.BLK	9.19%	Reduce 21.42%	546,100	$961.71	$0	$0	+0.00%
Meta Platforms Inc.META	9.17%	Reduce 12.62%	915,674	$572.13	$0	$0	+0.00%
Visa Inc.V	8.58%	Add 9.73%	1,718,250	$350.71	$0	$0	+0.00%
MongoDB Inc.MDB	8.40%	Reduce 33.59%	1,406,800	$419.69	$0	$0	+0.00%
Rocket Companies Inc.RKT	7.04%	Reduce 28.35%	28,214,724	$14.25	$0	$0	+0.00%
Roblox Corp.RBLX	6.89%	Add 39.52%	5,975,821	$81.03	$0	$0	+0.00%
Toast Inc.TOST	5.98%	Add 60.89%	12,895,438	$26.51	$0	$0	+0.00%
Liberty Media Corp. Series C LiveLLYVK	5.87%	Reduce 1.19%	3,561,208	$94.11	$0	$0	+0.00%
Roblox Corp.RBLX	5.79%	Reduce 2.13%	5,848,621	$56.56	$0	$0	+0.00%
KKR & Co. L.P.KKR	5.31%	Buy	3,279,700	$92.5	$0	$0	+0.00%
Walt Disney Co.DIS	4.98%	Reduce 29.92%	3,077,931	$113.77	$0	$0	+0.00%
MongoDB Inc.MDB	4.45%	Reduce 26.23%	1,037,800	$244.77	$0	$0	+0.00%
Liberty Media Corp. Series C LiveLLYVK	4.27%	Add 2.51%	3,603,988	$83.16	$0	$0	+0.00%
Simpson ManufacturingSSD	4.20%	Reduce 5.03%	1,398,042	$171.62	$0	$0	+0.00%
Toast Inc.TOST	4.05%	Add 135.94%	8,015,277	$35.51	$0	$0	+0.00%
Simpson ManufacturingSSD	3.38%	Add 21.87%	1,472,142	$161.47	$0	$0	+0.00%
Spotify Technology S.A.SPOT	3.04%	Buy	358,500	$484.91	$0	$0	+0.00%
Liberty Media Corp. Series A LiveLLYVA	2.85%	Reduce 1.24%	1,777,075	$91.64	$0	$0	+0.00%
Liberty Media Corp. Series A LiveLLYVA	2.09%	Add 4.64%	1,799,319	$81.5	$0	$0	+0.00%
Live Nation Inc.LYV	1.67%	Reduce 24.10%	624,666	$152.51	$0	$0	+0.00%
Live Nation Inc.LYV	1.67%	Add 28.43%	823,066	$142.5	$0	$0	+0.00%
Wix.com Ltd.WIX	1.65%	Buy	1,099,370	$85.57	$0	$0	+0.00%
Insight Enterprises Inc.NSIT	1.41%	Reduce 46.45%	1,216,592	$81.47	$0	$0	+0.00%
Walt Disney Co.DIS	0.68%	Reduce 87.00%	400,231	$96.38	$0	$0	+0.00%
CBRE GroupCBRE	0.56%		234,591	$135.46	$0	$0	+0.00%
CBRE GroupCBRE	0.54%		234,591	$160.79	$0	$0	+0.00%