VALUEACT HOLDINGS, L.P. Information

ONE LETTERMAN DRIVE, SAN FRANCISCO, California, 94129, (415) 362-3700

Report Date: 09/30/2014

Position Statistics

Total Positions 16
New Positions 2
Increased Positions 6
Decreased Positions 6
Positions with Activity 12
Sold Out Positions 3
Total Mkt Value (in $ millions) 16,016

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Sector Weighting

Basic Materials 3.12%
Capital Goods 8.8%
Conglomerates
Consumer Cyclical 3.84%
Consumer/Non-Cyclical
Energy
Financial 8.02%
Healthcare 16.71%
Services 14.01%
Technology 45.5%
Transportation 0%
Utilities

6 INCREASED Positions as of 09/30/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
MICROSOFT CORP COM 3,554,490 40 .00 74,237,469
TWENTY FIRST CENTY FOX INC CL B 940,464 841,078 846.27 25,200,000
WILLIS GROUP HOLDINGS PUBLIC L SHS 833,863 56 .01 18,423,835
AGRIUM INC COM 499,765 499,765 New 5,216,753
ARMSTRONG WORLD INDS INC NEW COM 458,528 323,960 240.74 9,200,000
TWENTY FIRST CENTY FOX INC CL A 178,894 178,894 New 4,600,000