13F-HR 1 vac13f051408.txt SCHEDULE 13F-HR 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 2008 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: Chief Operating Officer Phone: 415-362-3700 Signature, Place, and Date of Signing: /s/ George F. Hamel, Jr. San Francisco, CA May 14, 2008 ------------------ ----------------- ---------------- [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: 16 --------------- Form 13F Information Table Value Total: $3,968,739 -------------- (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 122,966 10,359,357 SH Sole 10,359,357 ----------------------------------------------------------------------------------------------------------------------------------- ADVANCED MEDICAL OPTICS INC COM 00763M108 178,876 8,811,635 SH Sole 8,811,635 ----------------------------------------------------------------------------------------------------------------------------------- ALLIANCE DATA SYSTEM CORP COM 018581108 95,490 2,009,900 SH Sole 2,009,900 ----------------------------------------------------------------------------------------------------------------------------------- CHIMERA INVESTMENT CORPORATION COM 16934Q109 13,479 1,095,852 SH Sole 1,095,852 ----------------------------------------------------------------------------------------------------------------------------------- EQUIFAX INC COM 294429105 377,514 10,948,768 SH Sole 10,948,768 ----------------------------------------------------------------------------------------------------------------------------------- GARTNER GROUP INC NEW-CL A COM 366651107 402,029 20,787,437 SH Sole 20,787,437 ----------------------------------------------------------------------------------------------------------------------------------- GEVITY HR INC COM 374393106 28,485 3,289,284 SH Sole 3,289,284 ----------------------------------------------------------------------------------------------------------------------------------- INTL RECTIFIER CORP COM 460254105 74,472 3,463,800 SH Sole 3,463,800 ----------------------------------------------------------------------------------------------------------------------------------- MDS INC COM 55269P302 450,138 23,107,700 SH Sole 23,107,700 ----------------------------------------------------------------------------------------------------------------------------------- MOODYS CORP COM 615369105 307,476 8,827,900 SH Sole 8,827,900 ----------------------------------------------------------------------------------------------------------------------------------- OMNICARE INC COM 681904108 213,973 11,782,666 SH Sole 11,782,666 ----------------------------------------------------------------------------------------------------------------------------------- REUTERS GROUP PLC COM G7540P109 628,781 54,667,160 SH Sole 54,667,160 ----------------------------------------------------------------------------------------------------------------------------------- SARA LEE CORP COM 803111103 614,780 43,975,715 SH Sole 43,975,715 ----------------------------------------------------------------------------------------------------------------------------------- SEALY CORPORATION COM 812139301 35,778 4,707,582 SH Sole 4,707,582 ----------------------------------------------------------------------------------------------------------------------------------- VALEANT PHARMACEUTICALS INTL COM 91911X104 169,886 13,241,300 SH Sole 13,241,300 ----------------------------------------------------------------------------------------------------------------------------------- WARNER CHILCOTT LIMITED COM G9435N108 254,616 14,145,325 SH Sole 14,145,325 -----------------------------------------------------------------------------------------------------------------------------------