13F filing recap · Q4 2011

What did ValueAct Capital buy in Q4 2011?

Reported stock-position changes between this filing and the previous one.

Stock value

$5.80B

Positions

Estimated turnover

14.0%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Increased positions

ADBEAdobe Inc.$696.02Mreported value+7.90M shares+47.3%CBRECbre Group, Inc.$323.49Mreported value+14.08M shares+196.3%

Reduced positions

VRSNVeriSign Inc/ca$420.31Mreported value-998.0K shares-7.8%NYTThe New York Times Company$32.28Mreported value-2.82M shares-40.4%

Exited positions

ITGartner, Inc.$177.14Mprior reported value-5.08M shares-100.0%WKCWorld Kinect Corporation$91.17Mprior reported value-2.79M shares-100.0%