13F filing recap · Q3 2014

What did ValueAct Capital buy in Q3 2014?

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

Stock value

$14.92B

Positions

Estimated turnover

15.5%

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.

New positions

AGUAgrium Inc$464.29Mreported value+5.22M shares FOXATwenty-First Century Fox, Inc.$157.73Mreported value+4.60M shares

Increased positions

MSFTMicrosoft Corporation$3.44Breported value+827 shares+0.0%FOXATwenty-First Century Fox, Inc.$839.41Mreported value+22.54M shares+846.3%WTWWillis Towers Watson Plc$762.75Mreported value+1.2K shares+0.0%AWIArmstrong World Industries, Inc.$515.20Mreported value+6.50M shares

Reduced positions

ADBEAdobe Inc.$1.65Breported value-700.0K shares-2.9%COLRockwell Collins Inc.$867.54Mreported value-960.3K shares-8.0%MSCIMsci Inc.$437.71Mreported value-32.3K shares-0.3%

Exited positions

DRCDresser-Rand Group Inc.$277.76Mprior reported value-4.36M shares-100.0%EXPDExpeditors International of Washington, Inc.$39.98Mprior reported value-905.4K shares-100.0%OPLNOpenlane, Inc.$25.61Mprior reported value-803.6K shares-100.0%