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Document Number: 1
File Name: cree13g.txt
Type: SC 13G
Description:
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                                    UNITED STATES
                         SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C. 20549

                                    SCHEDULE 13G

                      Under the Securities Exchange Act of 1934



                             Cree Inc.
            ------------------------------------------------------------
                                  (Name of Issuer)


                           Common Stock
            ------------------------------------------------------------
                             (Title of Class of Securities)


                               225447101
                           -------------------------------
                                   (CUSIP Number)

		December 31, 2014
            ------------------------------------------------------------
               (Date of Event Which Requires Filing of this Statement)

            Check the appropriate box to designate the rule pursuant to
            which this Schedule is filed:

             |X| Rule 13-d-1(b)
                 Rule 13-d-1(c)
                 Rule 13-d-1(d)

            *The remainder of this cover page shall be filled out for a
            reporting person's initial filing on this form with respect
            to the subject class of securities, and for any subsequent
            amendment containing information which would alter the
            disclosures provided in a prior cover page.

            The information required in the remainder of this cover page
            shall not be deemed to be "filed" for the purpose of Section
            18 of the Securities Exchange Act of 1934 ("Act") or
            otherwise subject to the liabilities of that section of the
            Act but shall be subject to all other provisions of the Act
            (however, see the Notes).



            
            
            CUSIP No. 225447101                         Schedule 13G
            

                                                                 
                           1.    Name of Reporting Persons.
                                 I.R.S. Identification Nos. of above
                                 persons (entities only).
                                 Fairpointe Capital LLC 27-4469222
                                 -------------------------------------

                           2.    Check the Appropriate Box if a Member
                                 of a Group (See Instructions)
                                 N/A
                                 (a)  [    ]
                                 (b)  [    ]
                           3.    SEC use only_________________________
                           4.    Citizenship or Place of Organization
                                         Chicago, IL
                                     -------------------------
            Number of      5.    Sole Voting Power                        6905149.0
            Shares
            Beneficially
            Owned
            by Each        6.    Shared Voting Power                     0
            Reporting
            Person With:
                           7.    Sole Dispositive Power                  6988807.0

                           8.    Shared Dispositive Power                 61350.0

                           9.    Aggregate Amount Beneficially Owned by   7050157.0
                                 Each Reporting Person
                           10.   Check if the Aggregate Amount in Row         None
                                 (9) Excludes Certain Shares (See
                                 Instructions)
                           11.   Percent of Class Represented by Amount    5.9%
                                 in Row (9)
                           12.   Type of Reporting Person (See             IA
                                 Instructions)


       

       Item 1.

       
                                                 
       (a)     Name of Issuer                           Cree Inc
                                                        ---------------------
       (b)     Address of Issuer's Principal            4600 Silicon Drive
               Executive Offices                        ---------------------
                                                        Durham, NC 27703
                                                        ---------------------
       

       Item 2.

       
                                                  
            (a)  Name of Person Filing                  Fairpointe Capital LLC
                                                        ---------------------

            (b)  Address of Principal Business Office
                 or, if none, Residence                 One N Franklin,Ste 3300
							Chicago, IL 60606
                                                        ---------------------

            (c)  Citizenship                            United States
                                                        ---------------------

            (d)  Title of Class of Securities            Common stock
                                                        ---------------------


            (e)  CUSIP Number                             225447101
                                                        ---------------------
       

       Item 3.  If this statement is filed pursuant to Sections 240.13d-1(b)
       or 240.13d-2(b) or (c), check whether the person filing is a:


       
                  
          (a)      [  ] Broker or Dealer registered under Section 15 of the
                        Act (15 U.S.C. 78o).
          (b)      [  ] Bank as defined in section 3(a)(6) of the Act (15
                        U.S.C. 78c).
          (c)      [  ] Insurance Company as defined in section 3(a)(19) of
                        the Act (15 U.S.C. 78c).
          (d)      [  ] Investment Company registered under section 8 of the
                        Investment Company Act of 1940 (15 U.S.C. 80a-8).
          (e)      [X ] An investment adviser registered under
                        Section 240.13d-1(b)(1)(ii)(E);
          (f)      [  ] An employee benefit plan or endowment fund in
                        accordance with Section 240.13d-1(b)(1)(ii)(F);
          (g)      [  ] A parent holding company or control person in
                        accordance with Section 240.13d-1(b)(1)(ii)(G);
          (h)      [  ] A savings association as defined in Section 3(b) of
                        the Federal Deposit Insurance Act (12 U.S.C. 1813);
          (i)      [  ] A church plan that is excluded from the definition of
                        an investment company under section 3(c)(14) of the
                        Investment Company Act of 1940 (15 U.S.C. 80a-3);
          (j)      [  ] Group, in accordance with Section 240.13d-
                        1(b)(1)(ii)(J).

       

       Item 4.  Ownership

            Provide the following information regarding the aggregate number
       and percentage of the class of securities of the issuer identified in
       Item 1.

       
                                    
       (a)   Amount beneficially owned    7050157.0
                                          -----------------
       (b)   Percent of class             5.9%
                                          -----
       
       (c)   Number of shares as to which the person has:


       
                                                         
             (i)    Sole power to vote or to direct the vote      6905149.0
                                                                  -----------
             (ii)   Shared power to vote or to direct the vote    0
                                                                  -----------
             (iii)  Sole power to dispose or to direct the        6988807.0
                    disposition of                                -----------

             (iv)   Shared power to dispose or to direct the      61350.0
                    disposition of                                -----------



       Item 5.  Ownership of Five Percent or Less of a Class

            If this statement is being filed to report the fact that as of the
       date hereof the reporting person has ceased to be the beneficial owner
       of more than five percent of the class of securities, check the
       following |_|

       Item 6.  Ownership of More than Five Percent on Behalf of Another
                Person

           If any other person is known to have the right to receive or the
       power to direct the receipt of dividends from, or the proceeds from the
       sale of, such securities, a statement to that effect should be included
       in response to this item and, if such interest relates to more than
       five percent of the class, such person should be identified.  A listing
       of the shareholders of an investment company registered under the
       Investment Company Act of 1940 or the beneficiaries of employee benefit
       plan, pension fund or endowment fund is not required.

       Item 7.   Identification and Classification of the Subsidiary Which
       Acquired the Security Being Reported on By the Parent Holding Company


            If a parent holding company has filed this schedule, pursuant to
       Rule 13d-l(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit
       stating the identity and the Item 3 classification of the relevant
       subsidiary.  If a parent holding company has filed this schedule
       pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating
       the identification of the relevant subsidiary.

       Item 8.  Identification and Classification of Members of the Group


            If a group has filed this schedule pursuant to Section 240.13d-
       1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit
       stating the identity and Item 3 classification of each member of the
       group.  If a group has filed this schedule pursuant to Section 240.13d-
       1(c) or Section 240.13d-1(d), attach an exhibit stating the identity of
       each member of the group.

       Item 9.  Notice of Dissolution of Group


            Notice of dissolution of a group may be furnished as an exhibit
       stating the date of the dissolution and that all further filings with
       respect to transactions in the security reported on will be filed, if
       required, by members of the group, in their individual capacity.  See
       Item 5.

       Item 10.  Certification

            (a) The following certification shall be included if the statement is filed pursuant to 240.13d-1(b):
           	 By signing below I certify that, to the best of my knowledge and belief, the securities referred to above
		were acquired and are held in the ordinary course of business and were not acquired and are not held
		for the purpose of or with the effect of changing or influencing the control of the issuer of the securities
		and were not acquired and are not held in connection with or as a participant in any transaction having
		that purpose or effect.
	    (b) N/A
                                      SIGNATURE

            After reasonable inquiry and to the best of my knowledge and
       belief, I certify that the information set forth in this statement is
       true, complete and correct.

                                          February 6, 2015
                                        _____________________________
                                                    Date


                                           Michelle Katauskas
                                        _____________________________
					Chief Compliance Officer