ValueAct Holdings

ValueAct Holdings as of March 31, 2012

Portfolio Holdings for ValueAct Holdings

ValueAct Holdings holds 0 positions in its portfolio as reported in the March 2012 quarterly 13F filing

                FORM 13F INFORMATION TABLE                                                Voting Authority
                                                                                                             ----------------------
                                                        Value      Shares/     Sh/  Put/   Invstmt  Other
Name of Issuer              Title of Class   CUSIP    (x$1000)     Prn Amt     Prn  Call   Dscretn  Managers    Sole    Shared None
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{S}                              {C}         {C}         {C}         {C}       {C}   {C}     {C}       {C}       {C}     {C}    {C}
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ADOBE SYSTEMS INC               COM       00724F101    938,494   27,353,362    SH           Sole        1    27,353,362
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BARD C R INC                    COM       067383109    579,777    5,872,939    SH           Sole        1      5,872,939
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CBRE GROUP INC                  COM       12504L109    426,545   21,370,007    SH           Sole        1     21,370,007
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ENERGY SOLUTIONS INC            COM       292756202     12,227    2,495,218    SH           Sole        1      2,495,218
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FIDELITY NATIONAL FINANCIAL     CL A      31620R105    280,953   15,582,515    SH           Sole        1     15,582,515
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GARDNER DENVER INC              COM       365558105     55,332      878,000    SH           Sole        1        878,000
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HALLIBURTON CO                  COM       406216101     76,337    2,300,000    SH           Sole        1      2,300,000
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KAR AUCTION SVCS INC            COM       48238T109     13,027      803,628    SH           Sole        1        803,628
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MOODYS CORP                     COM       615369105    697,902   16,577,241    SH           Sole        1     16,577,241
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MOTOROLA SOLUTIONS INC          COM       620076307  1,472,621   28,971,500    SH           Sole        1     28,971,500
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POLYPORE INTL INC               COM       73179V103     10,017      284,891    SH           Sole        1        284,891
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ROCKWELL COLLINS INC            COM       774341101    506,050    8,791,700    SH           Sole        1      8,791,700
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VALEANT PHARMACEUTICALS INTL    COM       91911K102    810,467   15,095,302    SH           Sole        1     15,095,302
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VERISIGN INC                    COM       92343E102    244,720    6,382,878    SH           Sole        1      6,382,878
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WILLIS GROUP HOLDINGS PUBLIC    SHS       G96666105    330,882    9,459,173    SH           Sole        1      9,459,173
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