0001047469-12-006030.txt : 20120515 0001047469-12-006030.hdr.sgml : 20120515 20120515114646 ACCESSION NUMBER: 0001047469-12-006030 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20120331 FILED AS OF DATE: 20120515 DATE AS OF CHANGE: 20120515 EFFECTIVENESS DATE: 20120515 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRIMECAP MANAGEMENT CO/CA/ CENTRAL INDEX KEY: 0000763212 IRS NUMBER: 953868081 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-01469 FILM NUMBER: 12842309 BUSINESS ADDRESS: STREET 1: 225 SOUTH LAKE AVE STE 400 CITY: PASADENA STATE: CA ZIP: 91101-3005 BUSINESS PHONE: 8183049222 MAIL ADDRESS: STREET 1: 225 SOUTH LAKE AVE SUITE 400 CITY: PASADENA STATE: CA ZIP: 91101 13F-HR 1 a2209625z13f-hr.txt 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: March 31, 2012 ------------------- 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: PRIMECAP Management Company ------------------------------- Address: 225 South Lake Ave. # 400 ------------------------------- Pasadena, CA 91101 ------------------------------- Form 13F File Number: 28-01469 --------------------- 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: Karen Chen ---------------------------------- Title: Director of Compliance & Reporting ---------------------------------- Phone: (626)304-9222 ---------------------------------- Signature, Place, and Date of Signing: /s/ Karen Chen Pasadena, CA 5/14/12 ------------------------------- ----------------- ------------- [Signature] [City, State] [Date] Report Type (Check only one.): /X/ 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) / / 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) / / 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: [If there are no entries in this list, omit this section.] Form 13F File Number Name 28- --------------- ------------------------------------ [Repeat as necessary.] FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 -------------------- Form 13F Information Table Entry Total: -------------------- Form 13F Information Table Value Total: $67,242,456 -------------------- (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] No. Form 13F File Number Name 28- None ------ ----------------- --------------------------------- [Repeat as necessary.] 1 PRIMECAP Management Company FORM 13F MARCH 31, 2012

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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- -------- -------- ------ --------- 3D SYSTEMS CORP COM 88554D205 1855 78801 SH Sole 45201 33600 ABBOTT LABORATORIES COM 002824100 173854 2836575 SH Sole 1274675 1561900 ABIOMED INC. COM 003654100 111283 5014990 SH Sole 3895473 1119517 ACCENTURE PLC COM G1151C101 270022 4186381 SH Sole 308731 3877650 ACCURAY INC. COM 004397105 56099 7946100 SH Sole 6086900 1859200 ACTIVISION BLIZZARD COM 00507V109 68259 5324400 SH Sole 915900 4408500 ADOBE SYS INC COM 00724F101 1521406 44342921 SH Sole 14132251 30210670 AECOM TECHNOLOGY CORP COM 00766T100 107034 4784700 SH Sole 2544100 2240600 AES CORP COM 00130H105 148806 11385300 SH Sole 822700 10562600 AFFYMETRIX INC. COM 00826T108 12009 2812524 SH Sole 1732324 1080200 AGILENT TECHNOLOGIES COM 00846U101 5214 117153 SH Sole 39835 77318 AKAMAI TECHNOLOGIES COM 00971T101 3009 82000 SH Sole 80000 2000 ALASKA AIRGROUP INC. COM 011659109 179018 4997700 SH Sole 437600 4560100 ALEXANDER & BALDWIN COM 014482103 67045 1383800 SH Sole 1220200 163600 ALLEGIANT TRAVEL CO COM 01748X102 1134 20800 SH Sole 20800 ALTERA CORP. COM 021441100 733939 18431416 SH Sole 8290816 10140600 AMAZON.COM INC COM 023135106 100627 496900 SH Sole 44500 452400 AMERICAN EXPRESS CO. COM 025816109 6185 106900 SH Sole 106900 AMGEN INC. COM 031162100 3363210 49466245 SH Sole 15294016 34172229 ANALOG DEVICES COM 032654105 24038 595000 SH Sole 595000 APPLE INC COM 037833100 55878 93200 SH Sole 93200 APPLIED MATERIALS COM 038222105 205610 16528126 SH Sole 5941026 10587100 ARKANSAS BEST CORP COM 040790107 17993 956550 SH Sole 730000 226550 ASCENA RETAIL GROUP COM 04351G101 184305 4158500 SH Sole 580900 3577600 ASM LITHOGRAPHY COM N07059186 530335 10577087 SH Sole 3901702 6675385 BABCOCK & WILCOX CO. NEW COM 05615F102 230833 8964392 SH Sole 5320519 3643873 BED BATH & BEYOND INC. COM 075896100 514039 7815710 SH Sole 2707578 5108132 BERKSHIRE HATHAWAY B COM 084670702 427116 5263294 SH Sole 2074244 3189050

2 PRIMECAP Management Company FORM 13F MARCH 31, 2012

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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- -------- -------- ------ --------- BIOGEN IDEC COM 09062X103 2929854 23258351 SH Sole 5929031 17329320 BIOMARIN PHARMA COM 09061G101 299884 8755737 SH Sole 3166528 5589209 BOEING CO. COM 097023105 551464 7415147 SH Sole 2581285 4833862 BOSTON SCIENTIFIC CORP COM 101137107 369855 61848649 SH Sole 15677548 46171101 BRAVO BRIO RESTAURANT GROUP COM 10567B109 1204 60300 SH Sole 60300 BRISTOW GROUP COM 110394103 859 18000 SH Sole 13500 4500 BROCADE COMM SYS COM 111621306 11963 2080500 SH Sole 743300 1337200 CABOT OIL & GAS CORP COM 127097103 124094 3981200 SH Sole 1426600 2554600 CALLAWAY GOLF CO. COM 131193104 10355 1531800 SH Sole 345602 1186198 CAMECO CORP COM 13321L108 79326 3691308 SH Sole 2699808 991500 CAMERON INTL CORP. COM 13342B105 51116 967550 SH Sole 502100 465450 CANADIAN PACIFIC RAILWAY COM 13645T100 269686 3550830 SH Sole 721800 2829030 CARDICA INC COM 14141R101 1463 683446 SH Sole 591600 91846 CARMAX INC. COM 143130102 524993 15151306 SH Sole 7674129 7477177 CARNIVAL CORP COM 143658300 479914 14959927 SH Sole 5667583 9292344 CATERPILLAR INC DEL COM 149123101 588944 5528951 SH Sole 1744161 3784790 CENOVUS ENERGY INC COM 15135U109 147263 4097461 SH Sole 1498961 2598500 CEPHEID COM 15670R107 103596 2476600 SH Sole 2064600 412000 CERNER CORP COM 156782104 3084 40500 SH Sole 40500 CH ROBINSON WORLDWIDE COM 12541W209 808407 12343973 SH Sole 2607800 9736173 CHARLES RIVER LAB COM 159864107 16966 470112 SH Sole 118700 351412 CHEF'S WAREHOUSE COM 163086101 479 20700 SH Sole 2700 18000 CHICAGO BRIDGE & IRON COM 167250109 17622 408000 SH Sole 408000 CHUBB CORP. COM 171232101 432751 6261764 SH Sole 2462114 3799650 CIENA CORP COM 171779309 10917 674311 SH Sole 58198 616113 CIRCOR CORP COM 17273K109 11688 351300 SH Sole 230000 121300 CISCO SYSTEMS INC COM 17275R102 77872 3681895 SH Sole 1531695 2150200 CITRIX SYSTEMS INC. COM 177376100 3945 50000 SH Sole 50000

3 PRIMECAP Management Company FORM 13F MARCH 31, 2012

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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- -------- -------- ------ --------- COLFAX COM 194014106 2428 68900 SH Sole 68900 COMSCORE COM 20564W105 36874 1723900 SH Sole 1369500 354400 COMVERSE TECHNOLOGY COM 205862402 215 31272 SH Sole 31272 CONCEPTUS INC. COM 206016107 67261 4677378 SH Sole 3963478 713900 CONOCOPHILLIPS COM 20825C104 19177 252300 SH Sole 2300 250000 CORNING INC COM 219350105 448983 31888021 SH Sole 6706841 25181180 COSTCO WHOLESALE COM 22160K105 308675 3399508 SH Sole 372958 3026550 CREE INC. COM 225447101 260945 8249907 SH Sole 3667018 4582889 CROWN HOLDINGS INC. COM 228368106 5602 152100 SH Sole 70400 81700 CSX CORP. COM 126408103 7978 370707 SH Sole 11000 359707 CUMMINS INC COM 231021106 6002 50000 SH Sole 50000 CVS CAREMARK CORP COM 126650100 40499 904000 SH Sole 904000 CYMER INC. COM 232572107 31000 620000 SH Sole 270000 350000 DECKERS OUTDOOR COM 243537107 1002 15900 SH Sole 10000 5900 DEERE & CO COM 244199105 160853 1988300 SH Sole 400 1987900 DELL INC COM 24702R101 11613 700000 SH Sole 700000 DELTA AIR LINES DEL COM 247361702 18479 1864700 SH Sole 1101000 763700 DENDREON CORP. COM 24823Q107 92886 8717600 SH Sole 3377600 5340000 DESCARTES SYS GRP INC COM 249906108 44921 5181190 SH Sole 515490 4665700 DIEBOLD COM 253651103 10015 260000 SH Sole 260000 DIRECTV COM CL A COM 25490A101 1237600 25083091 SH Sole 6242590 18840501 DISNEY WALT CO. COM 254687106 487669 11139092 SH Sole 3806818 7332274 DOMTAR CORPORATION COM 257559203 34785 364700 SH Sole 364700 DONALDSON INC COM 257651109 115779 3240400 SH Sole 3240400 DREAM WORKS ANIMATION COM 26153C103 70060 3797285 SH Sole 3017385 779900 DUNKIN BRANDS COM 265504100 650 21600 SH Sole 5300 16300 DYAX CORP. COM 26746E103 13511 8660700 SH Sole 5849900 2810800 EADS INDUSTRIAL - EUR COM 4012250 245975 6005700 SH Sole 343100 5662600

4 PRIMECAP Management Company FORM 13F MARCH 31, 2012

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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- -------- -------- ------ --------- EDISON INTERNATIONAL COM 281020107 4923 115800 SH Sole 80000 35800 EDWARDS LIFE COM 28176E108 21819 300000 SH Sole 300000 ELECTRONIC ARTS INC. COM 285512109 398879 24203838 SH Sole 11747638 12456200 EMC CORP/MASS COM 268648102 685646 22946667 SH Sole 8110970 14835697 ENCANA CORP. COM 292505104 101214 5150845 SH Sole 2202045 2948800 ENSCO PLC SPON ADR COM 29358Q109 10613 200507 SH Sole 200507 ENTEGRIS INC COM 29362U104 50844 5443662 SH Sole 764628 4679034 EOG RESOURCES INC. COM 26875P101 665243 5987789 SH Sole 1561624 4426165 ERICSSON (LM) TEL 'B' ADS COM 294821608 297115 28818144 SH Sole 8063200 20754944 EXELON CORP COM 30161N101 14704 375000 SH Sole 178400 196600 EXPEDITORS INTL OF WASH COM 302130109 176350 3791647 SH Sole 515300 3276347 FARO TECHNOLOGIES INC. COM 311642102 23484 402600 SH Sole 272100 130500 FEDEX CORP COM 31428X106 1898538 20645262 SH Sole 4154743 16490519 FEI COMPANY COM 30241L109 43526 886300 SH Sole 335700 550600 FIRSTENERGY CORP. COM 337932107 1003 22000 SH Sole 22000 FLEXTRONICS INTL LTD COM Y2573F102 318488 44050953 SH Sole 21236753 22814200 FORMFACTOR INC COM 346375108 41962 7520118 SH Sole 1458318 6061800 FRANCO NEVADA CORP COM 351858105 451 10500 SH Sole 10500 FREEPORT-MCMORAN COPPER & GOLD COM 35671D857 113694 2988814 SH Sole 1438376 1550438 GENTEX CORPORATION COM 371901109 11290 460800 SH Sole 250800 210000 GLAXOSMITHKLINE PLC (ADR) COM 37733W105 559134 12450107 SH Sole 4855457 7594650 GOOGLE COM 38259P508 2160679 3369533 SH Sole 985651 2383882 GRANITE CONSTR INC COM 387328107 39319 1368100 SH Sole 1368100 GREIF CL A COM 397624107 16558 296100 SH Sole 162000 134100 GREIF CL B COM 397624206 2056 36220 SH Sole 36220 GUIDANCE SOFTWARE COM 401692108 28002 2534100 SH Sole 1402100 1132000 HASBRO INC. COM 418056107 518 14100 SH Sole 14100 HESS CORPORATION COM 42809H107 377720 6407460 SH Sole 2189123 4218337

5 PRIMECAP Management Company FORM 13F MARCH 31, 2012

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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- -------- -------- ------ --------- HEWLETT-PACKARD CO. COM 428236103 317710 13332344 SH Sole 3503063 9829281 HISOFT TECHNOLOGY COM 43358R108 3728 248200 SH Sole 248200 HONEYWELL INTL. INC. COM 438516106 903511 14799529 SH Sole 4061540 10737989 IDEX CORP COM 45167R104 11966 284029 SH Sole 50000 234029 ILLUMINA INC COM 452327109 73917 1405000 SH Sole 520000 885000 IMMUNOGEN COM 45253H101 159687 11097069 SH Sole 9460250 1636819 IMPERVA COM 45321L100 391 10000 SH Sole 10000 INSULET CORP. COM 45784P101 18619 972800 SH Sole 753400 219400 INTEL CORP COM 458140100 596487 21219756 SH Sole 6717879 14501877 INTERMUNE COM 45884X103 42656 2907700 SH Sole 1804200 1103500 INTL PAPER CO COM 460146103 8649 246400 SH Sole 146400 100000 INTUIT INC COM 461202103 1258640 20931983 SH Sole 5476408 15455575 ISOFTSTONE HOLDINGS COM 46489B108 1121 127000 SH Sole 100000 27000 JABIL CIRCUIT COM 466313103 19920 793000 SH Sole 398800 394200 JACOBS ENGR GROUP DEL COM 469814107 21511 484800 SH Sole 484800 JET BLUE AIRWAYS COM 477143101 92224 18859710 SH Sole 10510520 8349190 JOHNSON & JOHNSON COM 478160104 891767 13519815 SH Sole 5838228 7681587 KAISER ALUMINUM CORP COM 483007704 3025 64000 SH Sole 64000 KELLOGG CO. COM 487836108 136022 2536300 SH Sole 1119500 1416800 KIRBY CORP. COM 497266106 154021 2341104 SH Sole 2062514 278590 KIT DIGITAL COM 482470200 9648 1340002 SH Sole 730000 610002 KLA-TENCOR CORP. COM 482480100 277700 5102900 SH Sole 1195400 3907500 KOHLS CORP. COM 500255104 17335 346484 SH Sole 328984 17500 KRAFT FOODS INC COM 50075N104 8210 216000 SH Sole 216000 LIFE TECHNOLOGIES CORP COM 53217V109 726141 14873846 SH Sole 4643453 10230393 LILLY ELI & CO COM 532457108 2205267 54762032 SH Sole 15954105 38807927 LIMITED BRAND COM 532716107 642006 13375125 SH Sole 7235800 6139325 LOWES COS INC COM 548661107 65029 2072300 SH Sole 354100 1718200

6 PRIMECAP Management Company FORM 13F MARCH 31, 2012

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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- -------- -------- ------ --------- LUMINEX CORP COM 55027E102 61279 2624369 SH Sole 1925719 698650 MARKETAXESS HLDGS INC. COM 57060D108 26286 704920 SH Sole 612220 92700 MARSH & MCLENNAN COS. COM 571748102 1183122 36081784 SH Sole 12790514 23291270 MASTERCARD INC CL A COM 57636Q104 16801 39950 SH Sole 5900 34050 MATTEL INC COM 577081102 341865 10156405 SH Sole 4631205 5525200 MCDERMOTT INTL. COM 580037109 146311 11421610 SH Sole 6624660 4796950 MEDTRONIC INC COM 585055106 1697016 43302273 SH Sole 12180481 31121792 MENS WEARHOUSE COM 587118100 314 8100 SH Sole 8100 MERCURY GENERAL CORP COM 589400100 5931 135600 SH Sole 135600 MICHAEL KORS HOLDINGS LTD COM G60754101 1249 26800 SH Sole 26800 MICRON TECHNOLOGY INC COM 595112103 262865 32452427 SH Sole 5598845 26853582 MICROSOFT CORP. COM 594918104 1873390 58089618 SH Sole 17095396 40994222 MOMENTA PHARMACEUTICALS COM 60877T100 10145 662200 SH Sole 500800 161400 MONSANTO CO. COM 61166W101 1027800 12886154 SH Sole 3339875 9546279 MONSTER WORLDWIDE COM 611742107 4738 486000 SH Sole 420000 66000 MOTOROLA MOB HLDGS INC COM 620097105 11780 300211 SH Sole 178068 122143 MOTOROLA SOLUTIONS INC COM 620076307 174058 3424307 SH Sole 833567 2590740 MSCI INC COM 55354G100 5595 152000 SH Sole 152000 NATIONAL OILWELL VARCO COM 637071101 493300 6207379 SH Sole 2964827 3242552 NEKTAR THERAPEUTICS COM 640268108 72141 9108756 SH Sole 7162956 1945800 NETAPP INC. COM 64110D104 53344 1191511 SH Sole 494911 696600 NEUSTAR COM 64126X201 163643 4393103 SH Sole 2464888 1928215 NEXTERA ENERGY, INC. COM 65339F101 17477 286140 SH Sole 50000 236140 NOBLE CORP COM H5833N103 8243 220000 SH Sole 220000 NOBLE ENERGY INC. COM 655044105 801329 8195223 SH Sole 962623 7232600 NORDSTROM INC. COM 655664100 15791 283400 SH Sole 38300 245100 NORFOLK SOUTHERN COM 655844108 100642 1528822 SH Sole 1054292 474530 NOVARTIS AG ADR COM 66987v109 1754164 31657896 SH Sole 9593281 22064615

7 PRIMECAP Management Company FORM 13F MARCH 31, 2012

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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- -------- -------- ------ --------- NUANCE COMMUNICATIONS COM 67020Y100 315880 12348700 SH Sole 9999100 2349600 NUVASIVE INC. COM 670704105 7797 463000 SH Sole 300000 163000 NVIDIA CORP. COM 67066g104 537480 34923991 SH Sole 9900641 25023350 O'REILLY AUTOMOTIVE INC. NEW COM 67103H107 3197 35000 SH Sole 35000 OCEANEERING INTL INC COM 675232102 310705 5765544 SH Sole 3446144 2319400 ORACLE CORP. COM 68389X105 1239003 42489824 SH Sole 10936271 31553553 ORASURE TECHNOLOGIES COM 68554V108 21677 1886600 SH Sole 1802600 84000 PACCAR INC. COM 693718108 113020 2413400 SH Sole 1248600 1164800 PALL CORP COM 696429307 94078 1577700 SH Sole 254700 1323000 PEABODY ENERGY CORP COM 704549104 3012 104000 SH Sole 104000 PEPSICO INC COM 713448108 55654 838800 SH Sole 373300 465500 PERKIN ELMER COM 714046109 14270 515906 SH Sole 242206 273700 PETRO BRASIL ADR Pref A COM 71654V101 171970 6728100 SH Sole 1538600 5189500 PETROLEO BRASILEIRO ADR COM 71654V408 11421 430000 SH Sole 430000 PF CHANG'S CHINA BISTRO COM 69333Y108 7940 200900 SH Sole 169200 31700 PHARMACYCLICS INC. COM 716933106 109237 3935063 SH Sole 2271839 1663224 PLANTRONICS INC NEW COM 727493108 197063 4894750 SH Sole 4894750 POTASH CORP SASK INC COM 73755L107 1090174 23860224 SH Sole 6390524 17469700 PRAXAIR INC. COM 74005P104 141832 1237194 SH Sole 492094 745100 PROCTER & GAMBLE CO. COM 742718109 129374 1924921 SH Sole 1019021 905900 PROGRESSIVE CORP. COM 743315103 86051 3712279 SH Sole 1610279 2102000 PUBLIC SVC ENTERPRISE GRP COM 744573106 103578 3383800 SH Sole 685000 2698800 QUALCOMM INCORP. COM 747525103 1272295 18704725 SH Sole 6104500 12600225 RAMBUS INC DEL COM COM 750917106 64180 9950462 SH Sole 2617703 7332759 RANGE RESOURCES COM 75281A109 164307 2826050 SH Sole 2216500 609550 REPUBLIC SVCS INC COM 760759100 7057 230935 SH Sole 230935 RESEARCH IN MOTION COM 760975102 412307 28029023 SH Sole 7765973 20263050 RESPONSYS INC. COM 761248103 425 35500 SH Sole 35500

8 PRIMECAP Management Company FORM 13F MARCH 31, 2012

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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- -------- -------- ------ --------- REX ENERGY CORP COM 761565100 12907 1208500 SH Sole 1028500 180000 RITCHIE BROS AUCTION COM 767744105 201659 8487330 SH Sole 3665180 4822150 ROCHE HOLDING AG-CHF COM 7110388 1760086 10118815 SH Sole 1422548 8696267 ROCKWELL AUTOMATION COM 773903109 271435 3405711 SH Sole 1024511 2381200 ROSS STORES INC COM 778296103 53850 926850 SH Sole 809400 117450 ROVI CORP. COM 779376102 5533 170000 SH Sole 170000 SAFRAN COM B058TZ6 2392 65000 SH Sole 65000 SANDISK CORP COM 80004C101 309475 6240668 SH Sole 2977090 3263578 SANOFI COM 80105N105 86129 2222692 SH Sole 323580 1899112 SCHLUMBERGER LTD COM 806857108 522256 7468266 SH Sole 2829780 4638486 SCHWAB CHARLES CORP COM 808513105 928714 64628688 SH Sole 30016688 34612000 SCHWEITZER-MAUDUIT COM 808541106 27914 404200 SH Sole 356000 48200 SEATTLE GENETICS COM 812578102 200698 9847800 SH Sole 8099200 1748600 SHUTTERFLY COM 82568P304 23822 760355 SH Sole 753400 6955 SMART BALANCE COM 83169Y108 32753 4955105 SH Sole 3313405 1641700 SMART TECHNOLOGIES INC A COM 83172R108 19049 6413946 SH Sole 1335942 5078004 SONY CORP ADR NEW COM 835699307 302953 14586064 SH Sole 3182834 11403230 SOUTHWEST AIRLS CO COM 844741108 658191 79877550 SH Sole 22769646 57107904 SOUTHWESTERN ENERGY CO COM 845467109 220294 7199150 SH Sole 4326600 2872550 SPIRIT AIRLINES COM 848577102 301 15000 SH Sole 10000 5000 SPRINT NEXTEL COM 852061100 20633 7239750 SH Sole 1754000 5485750 SPX CORP. COM 784635104 25314 326500 SH Sole 326500 STRATASYS INC COM 862685104 93440 2558600 SH Sole 2076200 482400 STRATTEC SEC CORP COM 863111100 7522 321437 SH Sole 102861 218576 STRYKER CORP. COM 863667101 13612 245344 SH Sole 245344 SURMODICS INC. COM 868873100 1014 66000 SH Sole 66000 SYMANTEC COM 871503108 671557 35912163 SH Sole 10467968 25444195 TARGET CORPORATION COM 87612E106 5827 100000 SH Sole 100000

9 PRIMECAP Management Company FORM 13F MARCH 31, 2012

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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- -------- -------- ------ --------- TESLA MOTORS COM 88160R101 7306 196190 SH Sole 87090 109100 TEXAS INSTRS. INC. COM 882508104 2006339 59694710 SH Sole 16426660 43268050 THOMAS & BETTS COM 884315102 176819 2458900 SH Sole 1900 2457000 TJX COS INC NEW COM 872540109 534545 13461224 SH Sole 2156308 11304916 TRANSOCEAN LTD COM H8817H100 25709 470000 SH Sole 53000 417000 TRIMBLE NAVIGATION COM 896239100 441634 8115284 SH Sole 4454784 3660500 UNION PACIFIC CORP. COM 907818108 458724 4267998 SH Sole 1434548 2833450 UNITED CONTL HLDGS INC COM 910047109 49819 2317170 SH Sole 1826750 490420 UNITED PARCEL SVC INC. COM 911312106 659686 8172523 SH Sole 2938983 5233540 URBAN OUTFITTERS COM 917047102 1552 53300 SH Sole 53300 US AIRWAYS GROUP INC COM 90341W108 3271 431000 SH Sole 284000 147000 USA TRUCK INC COM 902925106 1183 152700 SH Sole 45000 107700 VANCEINFO TECHNOLOGY COM 921564100 1676 139200 SH Sole 139200 VERISIGN INC. COM 92343E102 4411 115037 SH Sole 111937 3100 VISA COM 92826C839 643101 5450005 SH Sole 2998400 2451605 VITRAN CORP COM 92850E107 5607 702607 SH Sole 470000 232607 VMWARE COM 928563402 876 7800 SH Sole 7800 VULCAN MATERIALS CO. COM 929160109 14955 350000 SH Sole 350000 WAL-MART STORES INC. COM 931142103 24480 400000 SH Sole 400000 WARNACO GROUP COM 934390402 2388 40890 SH Sole 25000 15890 WATERS CORP COM 941848103 98288 1060740 SH Sole 527896 532844 WEBSENSE INC COM 947684106 60762 2881090 SH Sole 2390690 490400 WELLS FARGO & CO. COM 949746101 36188 1060000 SH Sole 10000 1050000 WEYERHAEUSER CO. COM 962166104 6576 300000 SH Sole 300000 WHIRLPOOL CP COM 963320106 811669 10560360 SH Sole 2324110 8236250 XILINX INC COM 983919101 49850 1368369 SH Sole 990000 378369 YAHOO!INC. COM 984332106 8901 584800 SH Sole 584800 ZIMMER HOLDINGS INC. COM 98956P102 38392 597267 SH Sole 314567 282700

10 PRIMECAP Management Company FORM 13F MARCH 31, 2012

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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- -------- -------- ------ --------- ZIPCAR COM 98974X103 9528 643378 SH Sole 377138 266240 ZYNGA COM 98986T108 1446 110000 SH Sole 8000 102000 REPORT SUMMARY 254 DATA RECORDS 67242456 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED