13F-HR 1 vac13f051407.txt 13F- HOLDINGS REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 31 MARCH 2007 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: ValueAct Capital Management, L.P. ----------------------------------------------------- 435 Pacific Avenue, Fourth Floor ----------------------------------------------------- San Francisco, CA 94133 ----------------------------------------------------- Form 13F File Number: 28-12033 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: George F. Hamel, Jr. Title: Managing Member Phone: 415-362-3700 Signature, Place, and Date of Signing: /s/ George F. Hamel, Jr. San Francisco, CA May 14, 2007 ------------------ ----------------- ---------------- [Signature] [City, State] [Date] Report Type: [ ] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [X] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: Form 13F File Number Name 28-02246 Marc C. Cohodes Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 --------------- Form 13F Information Table Entry Total: 22 --------------- Form 13F Information Table Value Total: $3,958,064 -------------- (thousands) List of Other Included Managers: NONE ValueAct Capital Management, L.P. 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 ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ACXIOM CORP COM 005125109 220,859 10,325,355 SH Sole 10,325,355 ----------------------------------------------------------------------------------------------------------------------------------- ADESA INC COM 00686U104 70,764 2,561,112 SH Sole 2,561,112 ----------------------------------------------------------------------------------------------------------------------------------- ADVANCED MEDICAL OPTICS INC COM 00763M108 106,442 2,861,335 SH Sole 2,861,335 ----------------------------------------------------------------------------------------------------------------------------------- ANNALY MORTGAGE MANAGEMENT INC COM 035710409 50,415 3,256,800 SH Sole 3,256,800 ----------------------------------------------------------------------------------------------------------------------------------- AVAYA INC COM 053499109 318,767 26,991,300 SH Sole 26,991,300 ----------------------------------------------------------------------------------------------------------------------------------- BANK OF NEW YORK CO INC COM 064057102 54,474 1,343,374 SH Sole 1,343,374 ----------------------------------------------------------------------------------------------------------------------------------- CATALINA MARKETING CORP COM 148867104 228,832 7,246,100 SH Sole 7,246,100 ----------------------------------------------------------------------------------------------------------------------------------- DRESSER RAND GROUP INC COM 261608103 123,329 4,048,900 SH Sole 4,048,900 ----------------------------------------------------------------------------------------------------------------------------------- GARTNER GROUP INC NEW-CL A COM 366651107 494,128 20,631,646 SH Sole 20,631,646 ----------------------------------------------------------------------------------------------------------------------------------- GEVITY HR INC COM 374393106 64,930 3,289,284 SH Sole 3,289,284 ----------------------------------------------------------------------------------------------------------------------------------- GLOBAL PMTS INC COM 37940X102 7,306 214,500 SH Sole 214,500 ----------------------------------------------------------------------------------------------------------------------------------- HANOVER COMPRESSOR CO COM 410768105 258,202 11,604,600 SH Sole 11,604,600 ----------------------------------------------------------------------------------------------------------------------------------- HELMERICH & PAYNE INC W/RTS TO COM 423452101 40,829 1,345,700 SH Sole 1,345,700 ----------------------------------------------------------------------------------------------------------------------------------- ILLUMINA INC COM 452327109 10,263 350,283 SH Sole 350,283 ----------------------------------------------------------------------------------------------------------------------------------- MDS INC COM 55269P302 369,038 19,515,500 SH Sole 19,515,500 ----------------------------------------------------------------------------------------------------------------------------------- PERKINELMER INC COM 714046109 99,171 4,094,610 SH Sole 4,094,610 ----------------------------------------------------------------------------------------------------------------------------------- PRA INTL COM 69353C101 99,137 4,598,184 SH Sole 4,598,184 ----------------------------------------------------------------------------------------------------------------------------------- REUTERS GROUP PLC COM G7540P109 770,764 84,051,212 SH Sole 84,051,212 ----------------------------------------------------------------------------------------------------------------------------------- SARA LEE CORP COM 803111103 98,136 5,800,000 SH Sole 5,800,000 ----------------------------------------------------------------------------------------------------------------------------------- SIRVA INC COM 82967Y104 25,461 7,131,900 SH Sole 7,131,900 ----------------------------------------------------------------------------------------------------------------------------------- VALEANT PHARMACEUTICALS INTL COM 91911X104 228,942 13,241,300 SH Sole 13,241,300 ----------------------------------------------------------------------------------------------------------------------------------- WARNER CHILCOTT LIMITED COM G9435N108 217,875 14,711,325 SH Sole 14,711,325 -----------------------------------------------------------------------------------------------------------------------------------