VALUEACT HOLDINGS, L.P. Information

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

Report Date: 12/31/2014

Position Statistics

Total Positions 15
New Positions 2
Increased Positions 7
Decreased Positions 5
Positions with Activity 12
Sold Out Positions 1
Total Mkt Value (in $ millions) 17,747

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

Sector Weighting

Basic Materials 4.9%
Capital Goods 5.43%
Conglomerates
Consumer Cyclical 3.45%
Consumer/Non-Cyclical
Energy 11.45%
Financial 8.35%
Healthcare 22.87%
Services 12.49%
Technology 31.06%
Transportation
Utilities

15 Positions as of 12/31/2014

Company Class Value of Shares ($1,000s) Change in Value ($1,000s) Change (%) ▲ Shares Held
TWENTY FIRST CENTY FOX INC CL A -157,987 Sold Out 0
ROCKWELL COLLINS INC COM 437,347 -645,141 (59.6) 4,465,000
MOTOROLA SOLUTIONS INC COM NEW 1,070,089 -688,651 (39.16) 17,588,576
ADOBE SYS INC COM 1,224,837 -600,939 (32.91) 16,006,753
CBRE GROUP INC CL A 1,197,449 -32,252 (2.62) 31,322,230
ARMSTRONG WORLD INDS INC NEW COM 526,148 New 9,200,000
BAKER HUGHES INC COM 1,025,379 1,025,379 New 14,997,500
HALLIBURTON CO COM 1,006,512 1,006,512 New 20,895,000
MSCI INC COM 579,483 New 9,308,960
WILLIS GROUP HOLDINGS PUBLIC L SHS 903,136 New 18,423,835
MICROSOFT CORP COM 3,217,485 34 .00 74,238,243
VALEANT PHARMACEUTICALS INTL I COM 4,058,790 96,319 2.43 19,383,877
ALLISON TRANSMISSION HLDGS INC COM 611,815 35,189 6.10 19,125,204
TWENTY FIRST CENTY FOX INC CL B 1,019,595 171,615 20.24 30,300,000
AGRIUM INC COM 868,905 315,773 57.09 8,194,898