Richard Snow Buys Medtronic Inc., American Eagle Outfitters Inc., Prudential Financial Inc., Sells Carter's Inc., Coldwater Creek Inc., GlaxoSmithKline plc

Richard Snow of Snow Capital Q2 Portfolio Update

Author's Avatar
Aug 08, 2009
Like many value investors, Richard Snow had a bad 2008, but his portfolio has since rebounded strongly. He took large positions in retails and industrials in the first half of 2009. Richard Snow owns 82 stocks with a total value of $2 billion. These are the details of the buys and sells.


Richard Snow buys Medtronic Inc., American Eagle Outfitters Inc., Prudential Financial Inc., The PNC Financial Services Group Inc., The Procter & Gamble Company, Fifth Third Bancorp, Verizon Communications Inc., Coach Inc., UNITED STATES NATURAL GAS FUND, LP, FedEx Corp., ULTRASHORT REAL ESTA, Cisco Systems Inc., Pacer International Inc., ULTRA FINANCIALS PRO, sells Carter's Inc., SPDR S&P 500, Nuveen Municipal Advantage Fund Inc., Nabors Industries Ltd., Kohl's Corp., GlaxoSmithKline plc, Coldwater Creek Inc., Coventry Health Care Inc., Citi Trends Inc., United Parcel Service, Inc. during the 3-months ended 06/30/2009, according to the most recent filings of his investment company, Snow Capital Management, L.P..


New Purchases: AEO, COH, CSCO, FDX, FITB, MDT, PACR, PG, PNC, PRU, SRS, UNG, UYG, VZ,

Added Positions: AVT, BAC, DSW, EBAY, HAL, MW, SDS, TXN,

Reduced Positions: AHL, CBK, CHS, EAT, HMA, INTC, MS, NLY, RHB, TBT, WDC,

Sold Out: CRI, CTRN, CVH, CWTR, GSK, KSS, NBR, NMA, SPY, UPS,

For the details of Richard Snow's stock buys and sells, go to the Link Here

This is the sector weightings of Richard Snow's portfolio:


Technologygreen.gif 3.3%
Financialsgreen.gif 33.7%
Telecommunicationsgreen.gif 0.1%
Consumer Servicesgreen.gif 9.7%
Health Caregreen.gif 19.7%
Consumer Goodsgreen.gif 0.1%
Industrialsgreen.gif 11.1%
Basic Materialsgreen.gif 4.8%
Oil & Gasgreen.gif 16.7%



These are the top 5 holdings of Richard Snow


  1. XL Capital Ltd (XL) - 7,763,082 shares, 4.53% of the total portfolio
  2. JPMorgan Chase & Co. (JPM) - 2,473,505 shares, 4.3% of the total portfolio
  3. Bank of America Corp. (BAC) - 6,115,467 shares, 4.11% of the total portfolio
  4. Community Health Systems Inc. (CYH) - 3,033,057 shares, 3.9% of the total portfolio
  5. Marathon Oil Corp. (MRO) - 2,500,902 shares, 3.84% of the total portfolio



Added: Bank of America Corp. (BAC, Financial)


Richard Snow added to his holdings in Bank of America Corp. by 58.88%. His purchase prices were between $8.69 and $14.16, with an estimated average price of $11.4. The impact to his portfolio due to this purchase was 1.52%. His holdings were 6,115,467 shares as of 06/30/2009.


Bank of America Corp. is one of the world's leading financial services companies. Bank of America provides individuals small businesses and commercial corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever wherever and however they choose. Bank of America Corp. has a market cap of $130.05 billion; its shares were traded at around $16.42 with a P/E ratio of 29.4 and P/S ratio of 1.8. The dividend yield of Bank of America Corp. stocks is 0.3%. Bank of America Corp. had an annual average earning growth of 7.5% over the past 10 years.


Added: Texas Instruments Inc. (TXN, Financial)


Richard Snow added to his holdings in Texas Instruments Inc. by 80.37%. His purchase prices were between $17.05 and $21.56, with an estimated average price of $18.8. The impact to his portfolio due to this purchase was 1.29%. His holdings were 2,675,536 shares as of 06/30/2009.


Texas Instruments Inc. is a global semiconductor company and one of the world's leading designers and suppliers of digital signal processors and analog integrated circuits the engines driving the digitization of electronics. These two types of semiconductor products work together in digital electronic devices such as digital cellular phones. Other semiconductor products include standard logic application- specific integrated circuits reduced instruction-set computing microprocessors microcontrollers and digital imaging devices. Texas Instruments Inc. has a market cap of $30.69 billion; its shares were traded at around $24.1 with a P/E ratio of 25.1 and P/S ratio of 2.5. The dividend yield of Texas Instruments Inc. stocks is 1.8%. Texas Instruments Inc. had an annual average earning growth of 42.8% over the past 5 years.


Added: Avnet Inc. (AVT, Financial)


Richard Snow added to his holdings in Avnet Inc. by 63.86%. His purchase prices were between $18.82 and $23.01, with an estimated average price of $21.3. The impact to his portfolio due to this purchase was 1.06%. His holdings were 2,542,857 shares as of 06/30/2009.


Avnet Inc. is one of the world's largest industrial distributors of electronic components and computer products. The company is a vital link in the chain that connects suppliers of semiconductors interconnect products passive and electromechanical devices to original equipment manufacturers and contract manufacturers that design and build the electronic equipment for end-market use and to other industrial customers. The company markets distributes and optimizes the supply-chain and provides design-chain services for the products of the world's leading electronic component suppliers enterprise computer manufacturers and embedded subsystem providers. Avnet brings a breadth and depth of capabilities such as maximizing inventory efficiency managing logistics assembling products and providing engineering design assistance for its one lakhs customers accelerating their growth through cost-effective value-added services and solutions. Avnet Inc. has a market cap of $3.78 billion; its shares were traded at around $25.04 with a P/E ratio of 10.3 and P/S ratio of 0.2. Avnet Inc. had an annual average earning growth of 25% over the past 5 years.


Added: Halliburton Company (HAL, Financial)


Richard Snow added to his holdings in Halliburton Company by 53.29%. His purchase prices were between $17.05 and $23.99, with an estimated average price of $21.2. The impact to his portfolio due to this purchase was 1.04%. His holdings were 2,838,235 shares as of 06/30/2009.


Halliburton Company provides a variety of services equipment maintenance and engineering and construction to energy industrial and governmental customers. The company is made up of the following three business segments: Energy Services Group Engineering and Construction Group and Dresser Equipment Group. Halliburton Company has a market cap of $19.84 billion; its shares were traded at around $22.11 with a P/E ratio of 9.4 and P/S ratio of 1.1. The dividend yield of Halliburton Company stocks is 1.6%. Halliburton Company had an annual average earning growth of 58.3% over the past 5 years.


Added: ULTRASHORT S&P500 PROSHARES (SDS, Financial)


Richard Snow added to his holdings in ULTRASHORT S&P500 PROSHARES by 112.5%. His purchase prices were between $52.63 and $67.13, with an estimated average price of $59.2. The impact to his portfolio due to this purchase was 0.25%. His holdings were 170,000 shares as of 06/30/2009.


ULTRASHORT S&P500 PROSHARES has a market cap of $640.2 million; its shares were traded at around $45.05 . The dividend yield of ULTRASHORT S&P500 PROSHARES stocks is 1.9%.


Added: eBay Inc. (EBAY, Financial)


Richard Snow added to his holdings in eBay Inc. by 38.96%. His purchase prices were between $14.39 and $17.84, with an estimated average price of $16.9. The impact to his portfolio due to this purchase was 0.08%. His holdings were 305,030 shares as of 06/30/2009.


eBay is one of the world's largest online trading communities. eBay creates a powerful marketplace for the sale of goods and services by a passionate community of individuals and small businesses. eBay enables trade on a local national and international basis with local sites in numerous markets in the United States and country-specific sites in the United Kingdom Canada Germany Austria France Italy Japan Korea and Australia. (Company Press Release) eBay Inc. has a market cap of $29.01 billion; its shares were traded at around $22.55 with a P/E ratio of 16.6 and P/S ratio of 3.4. eBay Inc. had an annual average earning growth of 29% over the past 5 years.


Added: DSW Inc. (DSW, Financial)


Richard Snow added to his holdings in DSW Inc. by 170.97%. His purchase prices were between $9.6 and $12.71, with an estimated average price of $11.2. The impact to his portfolio due to this purchase was 0.03%. His holdings were 84,000 shares as of 06/30/2009.


DSW is a specialty branded footwear retailer operating DSW stores and also supplies under supply arrangements to related retailers and to other non-related retailers in the United States. DSW Inc. has a market cap of $565.3 million; its shares were traded at around $12.84 with a P/E ratio of 22.1 and P/S ratio of 0.4.


Added: The Men's Wearhouse Inc. (MW, Financial)


Richard Snow added to his holdings in The Men's Wearhouse Inc. by 20.41%. His purchase prices were between $15.96 and $19.77, with an estimated average price of $17.9. The impact to his portfolio due to this purchase was 0.01%. His holdings were 59,000 shares as of 06/30/2009.


Men's Wearhouse Inc. is one of the largest specialty retailers of menswear in the United States and Canada. Under the Men's Wearhouse brand the company targets middle and upper middle income men by offering quality merchandise at everyday low prices. In addition to value Men's Wearhouse Inc. provides a superior level of customer service. The Men's Wearhouse Inc. has a market cap of $1.24 billion; its shares were traded at around $23.76 with a P/E ratio of 22.4 and P/S ratio of 0.7. The dividend yield of The Men's Wearhouse Inc. stocks is 1.2%. The Men's Wearhouse Inc. had an annual average earning growth of 12.8% over the past 10 years.


New Purchase: Medtronic Inc. (MDT, Financial)


Richard Snow initiated holdings in Medtronic Inc.. His purchase prices were between $29.4 and $34.76, with an estimated average price of $32.8. The impact to his portfolio due to this purchase was 1.06%. His holdings were 595,748 shares as of 06/30/2009.


Medtronic is the world's leading medical technology company pioneeringdevice-based therapies that restore health extend life and alleviate pain.Primary products include those for bradycardia pacing tachyarrhythmiamanagement atrial fibrillation management among others. Medtronic operates its business in one reportable segment that of manufacturing and selling device-based medical therapies. The company does business in more than 120 countries. The company's product lines include cardiac rhythm management neurological and spinal vascular and cardiac surgery. Medtronic Inc. has a market cap of $39.65 billion; its shares were traded at around $35.73 with a P/E ratio of 12.2 and P/S ratio of 2.7. The dividend yield of Medtronic Inc. stocks is 2.3%. Medtronic Inc. had an annual average earning growth of 14.7% over the past 10 years. GuruFocus rated Medtronic Inc. the business predictability rank of 4.5-star.


New Purchase: American Eagle Outfitters Inc. (AEO, Financial)


Richard Snow initiated holdings in American Eagle Outfitters Inc.. His purchase prices were between $13.49 and $15.49, with an estimated average price of $14.3. The impact to his portfolio due to this purchase was 1.04%. His holdings were 1,440,552 shares as of 06/30/2009.


American Eagle Outfitters is a specialty retailer of all-American casual apparel accessories and footwear for men and women between the ages of 16 and 34. The company sources designs and markets a versatile line of timeless and relaxed clothing classics like jeans khakis and T-shirts under its American Eagle Outfitters and AE brand names for exclusive sale in its stores. The company is focused on several core brand and merchandising strategies to differentiate the company from competition improve profitability and increase sales. American Eagle Outfitters Inc. has a market cap of $3.22 billion; its shares were traded at around $15.59 with a P/E ratio of 18.2 and P/S ratio of 1.2. The dividend yield of American Eagle Outfitters Inc. stocks is 2.6%. American Eagle Outfitters Inc. had an annual average earning growth of 27.6% over the past 10 years. GuruFocus rated American Eagle Outfitters Inc. the business predictability rank of 4.5-star.


New Purchase: Prudential Financial Inc. (PRU, Financial)


Richard Snow initiated holdings in Prudential Financial Inc.. His purchase prices were between $27.5 and $46, with an estimated average price of $35.7. The impact to his portfolio due to this purchase was 1%. His holdings were 527,818 shares as of 06/30/2009.


Prudential Financial Inc. is one of the largest financial services institutions in the United States. They provide a wide range of insurance investment management and other financial products and services. The Prudential name and `Rock` logo are among the most widely recognized in the United States. They conduct their principal businesses through four divisions: U.S. Consumer Employee Benefits International and Asset Management. They also conduct other activities in Corporate and Other operations. Prudential Financial Inc. has a market cap of $21.83 billion; its shares were traded at around $47.86 with a P/E ratio of 27.1 and P/S ratio of 0.8. The dividend yield of Prudential Financial Inc. stocks is 1.2%. Prudential Financial Inc. had an annual average earning growth of 3.6% over the past 5 years.


New Purchase: The PNC Financial Services Group Inc. (PNC, Financial)


Richard Snow initiated holdings in The PNC Financial Services Group Inc.. His purchase prices were between $37.72 and $52.93, with an estimated average price of $42. The impact to his portfolio due to this purchase was 0.96%. His holdings were 484,022 shares as of 06/30/2009.


The PNC Financial Services Group Inc. is one of the nation's largest diversified financial services organizations providing regional banking corporate banking real estate finance asset-based lending wealth management asset management and global fund services. (Company Press Release) The PNC Financial Services Group Inc. has a market cap of $19.69 billion; its shares were traded at around $44.23 with a P/E ratio of 18.5 and P/S ratio of 2.8. The dividend yield of The PNC Financial Services Group Inc. stocks is 0.9%. The PNC Financial Services Group Inc. had an annual average earning growth of 0.7% over the past 10 years.


New Purchase: Verizon Communications Inc. (VZ, Financial)


Richard Snow initiated holdings in Verizon Communications Inc.. His purchase prices were between $28.36 and $31.6, with an estimated average price of $29.8. The impact to his portfolio due to this purchase was 0.09%. His holdings were 56,373 shares as of 06/30/2009.


Verizon Communications formed by the merger of Bell Atlantic and GTE is one of the world's leading providers of high-growth communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States. Verizon is also the world's largest provider of print and on-line directory information. Verizon Communications Inc. has a market cap of $88.29 billion; its shares were traded at around $31.08 with a P/E ratio of 12.3 and P/S ratio of 0.9. The dividend yield of Verizon Communications Inc. stocks is 5.9%. Verizon Communications Inc. had an annual average earning growth of 2.4% over the past 10 years. GuruFocus rated Verizon Communications Inc. the business predictability rank of 4-star.


New Purchase: The Procter & Gamble Company (PG)


Richard Snow initiated holdings in The Procter & Gamble Company. His purchase prices were between $48.38 and $52.76, with an estimated average price of $50.8. The impact to his portfolio due to this purchase was 0.09%. His holdings were 34,364 shares as of 06/30/2009.


The Procter & Gamble Company manufactures and markets a broad range of consumer products in many countries throughout the world. Products fall into five business segments: fabric and home care paper beauty care health care and food and beverage. Today P&G markets more than 250 products to more than five billion consumers in 130 countries. The Procter & Gamble Company has a market cap of $151.65 billion; its shares were traded at around $52.03 with a P/E ratio of 14.5 and P/S ratio of 1.7. The dividend yield of The Procter & Gamble Company stocks is 3.5%. The Procter & Gamble Company had an annual average earning growth of 10.8% over the past 10 years. GuruFocus rated The Procter & Gamble Company the business predictability rank of 3-star.


New Purchase: Fifth Third Bancorp (FITB)


Richard Snow initiated holdings in Fifth Third Bancorp. His purchase prices were between $3.57 and $8.48, with an estimated average price of $6.2. The impact to his portfolio due to this purchase was 0.09%. His holdings were 244,700 shares as of 06/30/2009.


Fifth Third Bancorp is a registered financial holding company and a multi-bank holding company. They engage primarily in commercial retail and trust banking data processing services investment advisory services and leasing activities. In addition the company provides credit lifeaccident health and mortgage insurance discount brokerage services andproperty management for its properties. Fifth Third Bancorp has a market cap of $5.6 billion; its shares were traded at around $9.71 with and P/S ratio of 0.6. The dividend yield of Fifth Third Bancorp stocks is 0.4%. Fifth Third Bancorp had an annual average earning growth of 8% over the past 10 years.


New Purchase: UNITED STATES NATURAL GAS FUND, LP (UNG)


Richard Snow initiated holdings in UNITED STATES NATURAL GAS FUND, LP. His purchase prices were between $13.12 and $16.93, with an estimated average price of $14.7. The impact to his portfolio due to this purchase was 0.07%. His holdings were 100,000 shares as of 06/30/2009.


UNITED STATES NATURAL GAS FUND, LP has a market cap of $325.9 million; its shares were traded at around $13.132 .


New Purchase: Coach Inc. (COH)


Richard Snow initiated holdings in Coach Inc.. His purchase prices were between $18.81 and $26.93, with an estimated average price of $24.3. The impact to his portfolio due to this purchase was 0.07%. His holdings were 47,800 shares as of 06/30/2009.


Coach Inc. is a designer producer and marketer of high-quality modern American classic accessories that complement the diverse lifestyles of discerning women and men. The company is one of the best recognizedleather goods brands in the U.S. and is enjoying increased recognition intargeted international markets. The company attributes the prominence of the Coach brand to the unique combination of its original American attitude and design its heritage in fine leather products its superior product quality and durability and its commitment to customer service. Coach Inc. has a market cap of $9.65 billion; its shares were traded at around $30.39 with a P/E ratio of 16 and P/S ratio of 2.9. The dividend yield of Coach Inc. stocks is 1%. Coach Inc. had an annual average earning growth of 29.3% over the past 5 years.


New Purchase: FedEx Corp. (FDX)


Richard Snow initiated holdings in FedEx Corp.. His purchase prices were between $50.81 and $59.93, with an estimated average price of $54.5. The impact to his portfolio due to this purchase was 0.04%. His holdings were 14,110 shares as of 06/30/2009.


FedEx Corporation is a global transportation and logistics enterprise that offers customers a one-stop source for global shipping logistics and supply chain solutions. Services offered by FedEx companies include worldwide express delivery ground small-parcel delivery less-than-truckload freight delivery and global logistics supply chain management and electronic commerce solutions. FedEx Corp. has a market cap of $21.13 billion; its shares were traded at around $67.86 with a P/E ratio of 18 and P/S ratio of 0.6. The dividend yield of FedEx Corp. stocks is 0.6%. FedEx Corp. had an annual average earning growth of 17.7% over the past 10 years. GuruFocus rated FedEx Corp. the business predictability rank of 3.5-star.


New Purchase: ULTRASHORT REAL ESTA (SRS)


Richard Snow initiated holdings in ULTRASHORT REAL ESTA. His purchase prices were between $17.76 and $32.89, with an estimated average price of $22.7. The impact to his portfolio due to this purchase was 0.02%. His holdings were 20,000 shares as of 06/30/2009.


.


New Purchase: Cisco Systems Inc. (CSCO)


Richard Snow initiated holdings in Cisco Systems Inc.. His purchase prices were between $17.82 and $19.91, with an estimated average price of $18.7. The impact to his portfolio due to this purchase was 0.01%. His holdings were 12,313 shares as of 06/30/2009.


Cisco Systems Inc. is the worldwide leader in networking for the Internet. Cisco's Internet Protocol-based networking solutions are the foundation of the Internet and most corporate education and government networks around the world. Cisco provides the broadest line of solutions for transporting data voice and video within buildings across campuses or around the world. Cisco Systems Inc. has a market cap of $127.99 billion; its shares were traded at around $22.19 with a P/E ratio of 17.9 and P/S ratio of 3.3. Cisco Systems Inc. had an annual average earning growth of 17.1% over the past 10 years.


New Purchase: ULTRA FINANCIALS PRO (UYG)


Richard Snow initiated holdings in ULTRA FINANCIALS PRO. His purchase prices were between $3.41 and $4.73, with an estimated average price of $3.9. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 18,030 shares as of 06/30/2009.


ULTRA FINANCIALS PRO has a market cap of $6.58 billion; its shares were traded at around $5.55 . The dividend yield of ULTRA FINANCIALS PRO stocks is 0.6%.


New Purchase: Pacer International Inc. (PACR)


Richard Snow initiated holdings in Pacer International Inc.. His purchase prices were between $1.82 and $4.57, with an estimated average price of $3.2. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 26,400 shares as of 06/30/2009.


Pacer International Inc. is a leading North American non-asset based logistics provider offers logistics and other services to facilitate the movement of freight from origin to destination. Its services include retail intermodal marketing trucking freight consolidation and handling international freight forwarding and supply-chain management services and wholesale stacktrain services (two-tiered rail transportation for containerized shipments). Pacer International is headquartered in Concord California. Pacer International Inc. has a market cap of $95.8 million; its shares were traded at around $2.74 with a P/E ratio of 3.7. Pacer International Inc. had an annual average earning growth of 7.5% over the past 5 years.


Reduced: Health Management Associates Inc. (HMA)


Richard Snow reduced to his holdings in Health Management Associates Inc. by 36.61%. His sale prices were between $2.85 and $5.81, with an estimated average price of $4.7. The impact to his portfolio due to this sale was less than 0.01%. Richard Snow still held 16,880 shares as of 06/30/2009.


Health Management Associates Inc. provides a broad range of general acute care health services in non-urban communities. The Company pursues a business strategy of efficiently and profitably operating its existing base of facilities and selectively acquiring additional 100 to 300 bed acute care hospitals located in non-urban communities in market areas of 40000 to 300000 people in the southeastern and southwestern UnitedStates. Health Management Associates Inc. has a market cap of $1.57 billion; its shares were traded at around $6.35 with a P/E ratio of 15.1 and P/S ratio of 0.4. Health Management Associates Inc. had an annual average earning growth of 25.2% over the past 10 years. GuruFocus rated Health Management Associates Inc. the business predictability rank of 3.5-star.


Reduced: PROSHARES TRUST (TBT)


Richard Snow reduced to his holdings in PROSHARES TRUST by 25%. His sale prices were between $45.75 and $56.94, with an estimated average price of $51.3. The impact to his portfolio due to this sale was -0.03%. Richard Snow still held 37,500 shares as of 06/30/2009.


PROSHARES TRUST has a market cap of $11.2 million; its shares were traded at around $53.7 .


Reduced: Morgan Stanley (MS)


Richard Snow reduced to his holdings in Morgan Stanley by 30.77%. His sale prices were between $21.85 and $30.91, with an estimated average price of $27.3. The impact to his portfolio due to this sale was -0.04%. Richard Snow still held 90,000 shares as of 06/30/2009.


MORGAN STANLEY is a preeminent global financial services firm that maintains leading market positions in each of its three primary businesses: securities; asset management; and credit services. The company combines global strength in investment banking and institutionalsales and trading with strength in providing full-service and on-line brokerage services investment and global asset management services and primarily through its Discover Card brand quality consumer credit products. Morgan Stanley has a market cap of $42.2 billion; its shares were traded at around $31.22 with and P/S ratio of 0.6. The dividend yield of Morgan Stanley stocks is 0.7%. Morgan Stanley had an annual average earning growth of 27.3% over the past 10 years. GuruFocus rated Morgan Stanley the business predictability rank of 2.5-star.


Reduced: Western Digital Corp. (WDC)


Richard Snow reduced to his holdings in Western Digital Corp. by 50.59%. His sale prices were between $21.16 and $26.75, with an estimated average price of $23.9. The impact to his portfolio due to this sale was -0.04%. Richard Snow still held 50,000 shares as of 06/30/2009.


Western Digital Corp. designs develops manufactures and markets a broad line of hard drives featuring leading-edge technology. The company's hard drives are designed for the desktop PC market and the high-end hard drive market and recently for the emerging market for hard drives specially designed for audio-visual applications such as new video recording devices. The company sells its products worldwide to computer manufacturers for inclusion in their computer systems or subsystems and to distributors resellers and retailers. Western Digital Corp. has a market cap of $7.13 billion; its shares were traded at around $31.98 with a P/E ratio of 12.6 and P/S ratio of 0.9. Western Digital Corp. had an annual average earning growth of 55.8% over the past 5 years.


Reduced: Annaly Capital Management Inc. (NLY)


Richard Snow reduced to his holdings in Annaly Capital Management Inc. by 35.71%. His sale prices were between $13.4 and $15.12, with an estimated average price of $14. The impact to his portfolio due to this sale was -0.05%. Richard Snow still held 180,000 shares as of 06/30/2009.


Annaly Mortgage Management Inc. specializes in investing in Mortgage-Backed Securities. Its principal business objective is to generate net income for distribution to stockholders from the spread between the interest income on its Mortgage-Backed Securities and the costs of borrowing to finance its acquisition of Mortgage-Backed Securities. The Company has elected to be taxed as a Real Estate Investment Trust and is self-advised and self-managed. Annaly Capital Management Inc. has a market cap of $9.34 billion; its shares were traded at around $17.15 with a P/E ratio of 7.7 and P/S ratio of 4. The dividend yield of Annaly Capital Management Inc. stocks is 13.9%. Annaly Capital Management Inc. had an annual average earning growth of 15.2% over the past 5 years.


Reduced: RehabCare Group Inc. (RHB)


Richard Snow reduced to his holdings in RehabCare Group Inc. by 25.24%. His sale prices were between $16.04 and $23.48, with an estimated average price of $19.9. The impact to his portfolio due to this sale was -0.06%. Richard Snow still held 180,170 shares as of 06/30/2009.


REHABCARE GROUP INC. develops markets and manages comprehensive medicial rehabilitation programs and therapy services in acute-care hospitals skilled nursing units and outpatient facilities. RehabCare Group Inc. has a market cap of $394 million; its shares were traded at around $21.41 with a P/E ratio of 15.5 and P/S ratio of 0.5.


Reduced: Christopher & Banks Corp. (CBK)


Richard Snow reduced to his holdings in Christopher & Banks Corp. by 61.89%. His sale prices were between $4.41 and $6.65, with an estimated average price of $5.3. The impact to his portfolio due to this sale was -0.11%. Richard Snow still held 483,735 shares as of 06/30/2009.


Christopher & Banks Corporation is a Minneapolis-based specialty retailer of women's clothing providing exclusive fashions under the Christopher & Banks and C.J. Banks labels. Currently the Company operates 351 stores in 30 states located primarily in the northern half of the United States. Christopher & Banks Corp. has a market cap of $302.7 million; its shares were traded at around $8.44 with and P/S ratio of 0.6. The dividend yield of Christopher & Banks Corp. stocks is 2.8%. Christopher & Banks Corp. had an annual average earning growth of 17.7% over the past 10 years.


Reduced: Intel Corp. (INTC)


Richard Snow reduced to his holdings in Intel Corp. by 89.09%. His sale prices were between $14.94 and $16.19, with an estimated average price of $15.6. The impact to his portfolio due to this sale was -0.12%. Richard Snow still held 158,863 shares as of 06/30/2009.


Intel Corporation one of the world's largest semiconductor chip maker supplies the computing and communications industries with chips boards and systems building blocks that are integral to computers servers and networking and communications products. Its products are offered at various levels of integration and are used by industry members to create advanced computing and communications systems. Intel Corp. has a market cap of $103.32 billion; its shares were traded at around $18.5 with a P/E ratio of 26.1 and P/S ratio of 2.8. The dividend yield of Intel Corp. stocks is 3%. Intel Corp. had an annual average earning growth of 0.4% over the past 10 years.


Reduced: Aspen Insurance Holdings Ltd. (AHL)


Richard Snow reduced to his holdings in Aspen Insurance Holdings Ltd. by 95.5%. His sale prices were between $21 and $24.41, with an estimated average price of $22.9. The impact to his portfolio due to this sale was -0.15%. Richard Snow still held 139,279 shares as of 06/30/2009.


Aspen Insurance Holdings is a Bermudian holding company that provides property and casualty reinsurance in the global market property and liability insurance principally in the United Kingdom and surplus lines insurance in the United States. Aspen's operations are conducted through its wholly-owned subsidiaries located in London Bermuda and the United States: Aspen Insurance UK Limited Aspen Insurance Limited and Aspen Specialty Insurance Company. Aspen Insurance Holdings Ltd. has a market cap of $2 billion; its shares were traded at around $24.15 with a P/E ratio of 16.4 and P/S ratio of 1.1. The dividend yield of Aspen Insurance Holdings Ltd. stocks is 2.5%.


Reduced: Brinker International Inc. (EAT)


Richard Snow reduced to his holdings in Brinker International Inc. by 76.65%. His sale prices were between $15.33 and $19.21, with an estimated average price of $17.2. The impact to his portfolio due to this sale was -0.82%. Richard Snow still held 1,235,024 shares as of 06/30/2009.


Brinker International either owns operates franchises or is involved in the ownership of restaurants under the names Chili's Grill & Bar Romano's Macaroni Grill On The Border Mexican Grill & Cantina Maggiano's Little Italy Cozymel's Coastal Grill Corner Bakery Cafe Big Bowl Asian Kitchen and Rockfish Seafood Grill. Brinker International Inc. has a market cap of $1.51 billion; its shares were traded at around $14.78 with a P/E ratio of 11 and P/S ratio of 0.4. The dividend yield of Brinker International Inc. stocks is 3%. Brinker International Inc. had an annual average earning growth of 13.4% over the past 10 years. GuruFocus rated Brinker International Inc. the business predictability rank of 4.5-star.


Reduced: Chico's FAS Inc. (CHS)


Richard Snow reduced to his holdings in Chico's FAS Inc. by 33.61%. His sale prices were between $6.92 and $10.35, with an estimated average price of $8.5. The impact to his portfolio due to this sale was -0.84%. Richard Snow still held 5,045,949 shares as of 06/30/2009.


CHICO'S FAS INC. is a specialty retailer of exclusively designed private label casual clothing and related accessories. Each store offers collections of color coordinated tops pants shorts skirts jumpsuits dresses vests jackets outerwear socks and accessories including leather and fabric belts scarves earrings necklaces and bracelets. Chico's FAS Inc. has a market cap of $2.25 billion; its shares were traded at around $12.68 with a P/E ratio of 634 and P/S ratio of 1.3. Chico's FAS Inc. had an annual average earning growth of 38.5% over the past 10 years. GuruFocus rated Chico's FAS Inc. the business predictability rank of 2.5-star.


Sold Out: Carter's Inc. (CRI)


Richard Snow sold out his holdings in Carter's Inc.. His sale prices were between $20.59 and $24.48, with an estimated average price of $22.6. The impact to his portfolio due to this sale was less than 0.01%.


Carters Inc markets baby apparel and young children's apparel in the United States. Carter's products are offered in department stores and retail stores. The company sells products under the Tykes brand in Target stores and under its Child of Mine brand in Wal-Mart stores. Carter's Inc. has a market cap of $1.48 billion; its shares were traded at around $26.06 with a P/E ratio of 15.4 and P/S ratio of 1. Carter's Inc. had an annual average earning growth of 16.6% over the past 5 years.


Sold Out: United Parcel Service, Inc. (UPS)


Richard Snow sold out his holdings in United Parcel Service, Inc.. His sale prices were between $48.14 and $57.13, with an estimated average price of $51.8. The impact to his portfolio due to this sale was less than 0.01%.


United Parcel Service Inc. is the world's largest express carrier the world's largest package delivery company and a leading global provider of specialized transportation and logistics services. Their primary business is the time-definite delivery of packages and documents throughout the United States and in over 200 other countries and territories. They have established a vast and reliable global transportation infrastructuredeveloped a comprehensive competitive and guaranteed portfolio of servicesand consistently supported these services with advanced technology. United Parcel Service, Inc. has a market cap of $53.84 billion; its shares were traded at around $54.11 with a P/E ratio of 19.3 and P/S ratio of 1.1. The dividend yield of United Parcel Service, Inc. stocks is 3.2%. United Parcel Service, Inc. had an annual average earning growth of 17.2% over the past 5 years.


Sold Out: Citi Trends Inc. (CTRN)


Richard Snow sold out his holdings in Citi Trends Inc.. His sale prices were between $22.27 and $25.78, with an estimated average price of $23.9. The impact to his portfolio due to this sale was less than 0.01%.


Citi Trends Inc. is a value-priced retailer of urban fashion apparel and accessories for the entire family. The Company currently operates stores located in the South Southeast and Mid-Atlantic region. Citi Trends Inc. has a market cap of $451.3 million; its shares were traded at around $30.74 with a P/E ratio of 22.1 and P/S ratio of 0.9.


Sold Out: Coventry Health Care Inc. (CVH)


Richard Snow sold out his holdings in Coventry Health Care Inc.. His sale prices were between $13.72 and $19.12, with an estimated average price of $17.2. The impact to his portfolio due to this sale was less than 0.01%.


Coventry Health Care Inc. is a managed health care company operating health plans under the names Coventry Health Care Coventry Health and Life HealthAmerica HealthAssurance HealthCare USA Group Health Plan SouthCare Southern Health Carelink Health Plans and WellPath. The Company provides a full range of managed care products and services including health maintenance organization point-of-service preferred provider organization products and Medicare and Medicaid products. The Company also administers self-insured plans for large employer groups. Coventry Health Care Inc. has a market cap of $3.29 billion; its shares were traded at around $22.14 with a P/E ratio of 10.5 and P/S ratio of 0.3. Coventry Health Care Inc. had an annual average earning growth of 43.3% over the past 10 years. GuruFocus rated Coventry Health Care Inc. the business predictability rank of 4.5-star.


Sold Out: SPDR S&P 500 (SPY)


Richard Snow sold out his holdings in SPDR S&P 500. His sale prices were between $85.33 and $94.55, with an estimated average price of $89.9. The impact to his portfolio due to this sale was less than 0.01%.


Standard and Poor's Depository Reciepts trust is involved in the financial services industry. Their holdings are comprised of the 500 stocks in the S&P 500 Index which is designed to capture the price performance of a large cross-section of the U.S. publicly traded stock market. SPDR S&P 500 has a market cap of $70.53 billion; its shares were traded at around $101.202 . The dividend yield of SPDR S&P 500 stocks is 2.1%.


Sold Out: Coldwater Creek Inc. (CWTR)


Richard Snow sold out his holdings in Coldwater Creek Inc.. His sale prices were between $3.02 and $5.9, with an estimated average price of $4.2. The impact to his portfolio due to this sale was less than 0.01%.


Coldwater Creek Inc. is a specialty direct mail retailer of apparel gifts jewelry and home furnishings. The company markets itsmerchandise primarily through three distinct catalogs. Northcountry is the company's core catalog and features casual comfortable apparel hard-to-find jewelry distinctive artwork gifts and items for the home. The company's premium catalog for women Spirit of the West features fashionable upscale apparel and hard-to-find jewelry and accessories. The company also maintains an interactive Internet commerce web site. Coldwater Creek Inc. has a market cap of $696.8 million; its shares were traded at around $7.63 with and P/S ratio of 0.6.


Sold Out: GlaxoSmithKline plc (GSK)


Richard Snow sold out his holdings in GlaxoSmithKline plc. His sale prices were between $28.6 and $36.12, with an estimated average price of $32.1. The impact to his portfolio due to this sale was less than 0.01%.


GlaxoSmithKline is one of the world's leading research based pharmaceutical and healthcare companies and is committed to improving the quality of human life by enabling people to do more feel better and live longer. They also have leadership in four major therapeutic areas: anti-infectives central nervous system (CNS) respiratory and gastro-intestinal/metabolic. GlaxoSmithKline plc has a market cap of $100.73 billion; its shares were traded at around $38.83 with a P/E ratio of 11.1 and P/S ratio of 2.3. The dividend yield of GlaxoSmithKline plc stocks is 6%. GlaxoSmithKline plc had an annual average earning growth of 8.4% over the past 10 years. GuruFocus rated GlaxoSmithKline plc the business predictability rank of 3-star.


Sold Out: Nabors Industries Ltd. (NBR)


Richard Snow sold out his holdings in Nabors Industries Ltd.. His sale prices were between $12.44 and $18.57, with an estimated average price of $16.4. The impact to his portfolio due to this sale was less than 0.01%.


Nabors Industries Inc. is one of the largest land drilling contractors. Nabors conducts oil gas and geothermal land drilling operations in the U.S. and internationally. Nabors also is one of the largest land well-servicing and workover contractors in the United States. To further supplement its primary business it offers a number of ancillary well-site services including oilfield management engineering transportation construction maintenance well logging and other support services in selected domestic and international markets. Nabors Industries Ltd. has a market cap of $5.04 billion; its shares were traded at around $17.79 with a P/E ratio of 7 and P/S ratio of 1. Nabors Industries Ltd. had an annual average earning growth of 26.2% over the past 10 years. GuruFocus rated Nabors Industries Ltd. the business predictability rank of 4.5-star.


Sold Out: Nuveen Municipal Advantage Fund Inc. (NMA)


Richard Snow sold out his holdings in Nuveen Municipal Advantage Fund Inc.. His sale prices were between $11.6 and $12.81, with an estimated average price of $12.4. The impact to his portfolio due to this sale was less than 0.01%.


NUVEEN MUN ADVA is a closed-end diversified management investment company. Nuveen Municipal Advantage Fund Inc. has a market cap of $557.1 million; its shares were traded at around $12.89 . The dividend yield of Nuveen Municipal Advantage Fund Inc. stocks is 6.6%.


Sold Out: Kohl's Corp. (KSS)


Richard Snow sold out his holdings in Kohl's Corp.. His sale prices were between $40.94 and $46.59, with an estimated average price of $43.9. The impact to his portfolio due to this sale was less than 0.01%.


Kohl's Corporation operates family oriented specialty department stores primarily in the Midwest Mid-Atlantic and Northeast areas of the United States that feature quality national brand merchandise priced to provide exceptional value to customers. The company's stores sell moderately priced apparel shoes accessories and home products targeted to middle-income customers shopping for their families and homes. Kohl's stores feature easily accessible locations well laid out stores central checkout and good in-stock. Kohl's Corp. has a market cap of $16.34 billion; its shares were traded at around $53.51 with a P/E ratio of 18.9 and P/S ratio of 0.9. Kohl's Corp. had an annual average earning growth of 21% over the past 10 years. GuruFocus rated Kohl's Corp. the business predictability rank of 4-star.