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Maverick Capital Buys Citigroup Inc., Adobe Systems, Citrix Systems, Sells Abercrombie & Fitch, Visa Inc., Berkshire Hathaway Inc.

Hedge fund Maverick Capital just reported its second quarter holdings. The firm is run by Lee Ainslie. These are the details of buys and sells.

Dallas based Maerick Capital was founded by Mr. Lee Ainslee in 1993. Also learned from legendary great Julian Robertson at Tiger Management, Mr. Ainslie has averaged more than 13% a year since from 1995 to 2009. In the market crash of 2008, his fund lost about 30%.

Maverick has six industry sector heads, most of whom are more or less the same age as Mr. Ainslie. They are the experts in their respective industries: consumer, health care, cyclical, retail, financial, and telecommunications, media, and technology. Mr. Ainslie talks to them throughout the day about new and current stocks in the portfolio. With that input, he ultimately makes the final decision.

Maverick runs long only fund and market neutral funds. They pick both long and short positions based on fundamentals.

According to the most recent filings of his investment company, Maverick Capital, Lee Ainslie owns 63 stocks with a total value of $7.8 billion. These are the details of the buys and sells.

For the details of Lee Ainslie's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Lee+Ainslie

This is the sector weightings of his portfolio:

Technology 33.9%
Consumer Services 28.1%
Health Care 15.8%
Financials 9.9%
Industrials 5.6%
Consumer Goods 4.2%
Oil & Gas 1.3%


These are the top 5 holdings of Lee Ainslie

  1. QUALCOMM Inc. (QCOM) - 10,135,760 shares, 4.26% of the total portfolio. Shares added by 19.1%
  2. Pfizer Inc (PFE) - 23,217,741 shares, 4.24% of the total portfolio. Shares added by 12.07%
  3. Apple Inc. (AAPL) - 1,309,915 shares, 4.22% of the total portfolio. Shares reduced by 15.15%
  4. Corning Inc. (GLW) - 20,338,663 shares, 4.2% of the total portfolio. Shares added by 13.4%
  5. Marvell Technology Group Ltd. (MRVL) - 20,577,980 shares, 4.15% of the total portfolio. Shares added by 15.7%


Added: The Stanley Works (SWK)

Lee Ainslie added to his holdings in The Stanley Works by 133.2%. His purchase prices were between $50.42 and $65.07, with an estimated average price of $58.04. The impact to his portfolio due to this purchase was 1.74%. His holdings were 4,723,572 shares as of 06/30/2010.

Stanley Black & Decker, Inc., formerly known as Stanley Works Inc. The Stanley Works has a market cap of $8.86 billion; its shares were traded at around $55.12 with a P/E ratio of 15.3 and P/S ratio of 2.4. The dividend yield of The Stanley Works stocks is 2.4%. The Stanley Works had an annual average earning growth of 2.3% over the past 10 years.

Added: Tyco International Ltd. (switzerland) (TYC)

Lee Ainslie added to his holdings in Tyco International Ltd. (switzerland) by 103.13%. His purchase prices were between $35 and $40.54, with an estimated average price of $38.01. The impact to his portfolio due to this purchase was 1.53%. His holdings were 6,672,985 shares as of 06/30/2010.

Tyco International Ltd. (switzerland) has a market cap of $17.48 billion; its shares were traded at around $36.85 with a P/E ratio of 14.3 and P/S ratio of 1. The dividend yield of Tyco International Ltd. (switzerland) stocks is 2.3%.

Added: Apollo Group Inc. (APOL)

Lee Ainslie added to his holdings in Apollo Group Inc. by 31.67%. His purchase prices were between $43.13 and $65.74, with an estimated average price of $55.58. The impact to his portfolio due to this purchase was 0.98%. His holdings were 7,483,993 shares as of 06/30/2010.

Apollo Group, Inc. has been providing higher education to working adults for over 25 years. Apollo Group Inc. has a market cap of $6.03 billion; its shares were traded at around $40.98 with a P/E ratio of 8 and P/S ratio of 1.5. Apollo Group Inc. had an annual average earning growth of 26.4% over the past 10 years. GuruFocus rated Apollo Group Inc. the business predictability rank of 4-star.

Added: Home Inns & Hotels Management Inc. (HMIN)

Lee Ainslie added to his holdings in Home Inns & Hotels Management Inc. by 2106.95%. His purchase prices were between $30.79 and $41.75, with an estimated average price of $36.35. The impact to his portfolio due to this purchase was 0.94%. His holdings were 1,964,557 shares as of 06/30/2010.

Home Inns & Hotels Management Inc. is a economy hotel chain in China based on the number of hotels and hotel rooms, as well as the geographic coverage of the hotel chain. Home Inns & Hotels Management Inc. has a market cap of $1.73 billion; its shares were traded at around $43.01 with a P/E ratio of 52.5 and P/S ratio of 4.5.

Added: Qualcomm Inc. (QCOM)

Lee Ainslie added to his holdings in Qualcomm Inc. by 19.1%. His purchase prices were between $33.14 and $43.29, with an estimated average price of $37.64. The impact to his portfolio due to this purchase was 0.68%. His holdings were 10,135,760 shares as of 06/30/2010.

Qualcomm Inc. has a market cap of $63.38 billion; its shares were traded at around $38.64 with a P/E ratio of 19.6 and P/S ratio of 6.1. The dividend yield of Qualcomm Inc. stocks is 2%. Qualcomm Inc. had an annual average earning growth of 15.4% over the past 10 years. GuruFocus rated Qualcomm Inc. the business predictability rank of 1-star.

Added: Viacom Inc. (VIA.B)

Lee Ainslie added to his holdings in Viacom Inc. by 47.44%. His purchase prices were between $32.07 and $36.6, with an estimated average price of $34.4. The impact to his portfolio due to this purchase was 0.66%. His holdings were 5,132,142 shares as of 06/30/2010.

Viacom Inc. has a market cap of $17.27 billion; its shares were traded at around $32.63 with a P/E ratio of 11.8 and P/S ratio of 1.3.

Added: Dollar General Corp. (DG)

Lee Ainslie added to his holdings in Dollar General Corp. by 101.92%. His purchase prices were between $25.52 and $31.36, with an estimated average price of $28.95. The impact to his portfolio due to this purchase was 0.57%. His holdings were 3,208,207 shares as of 06/30/2010.

Dollar General Corporation is a discount retailer in the United States. Dollar General Corp. has a market cap of $9.83 billion; its shares were traded at around $29.08 with a P/E ratio of 20.2 and P/S ratio of 0.8.

Added: Marvell Technology Group Ltd. (MRVL)

Lee Ainslie added to his holdings in Marvell Technology Group Ltd. by 15.7%. His purchase prices were between $16.28 and $22.58, with an estimated average price of $19.51. The impact to his portfolio due to this purchase was 0.56%. His holdings were 20,577,980 shares as of 06/30/2010.

Marvell Technology Group Ltd. has a market cap of $9.46 billion; its shares were traded at around $14.68 with a P/E ratio of 13.3 and P/S ratio of 3.4. Marvell Technology Group Ltd. had an annual average earning growth of 34% over the past 10 years.

Added: Longtop Financial Technologies Ltd. (LFT)

Lee Ainslie added to his holdings in Longtop Financial Technologies Ltd. by 52.85%. His purchase prices were between $28.83 and $37.85, with an estimated average price of $33.38. The impact to his portfolio due to this purchase was 0.52%. His holdings were 3,615,731 shares as of 06/30/2010.

Longtop is a software development and solutions provider targeting the financial services industry in China. Longtop Financial Technologies Ltd. has a market cap of $1.99 billion; its shares were traded at around $35.22 with a P/E ratio of 28.3 and P/S ratio of 11.8.

Added: Corning Inc. (GLW)

Lee Ainslie added to his holdings in Corning Inc. by 13.4%. His purchase prices were between $16 and $20.92, with an estimated average price of $18.5. The impact to his portfolio due to this purchase was 0.5%. His holdings were 20,338,663 shares as of 06/30/2010.

Corning Incorporated creates leading-edge technologies for the fastest-growing markets of the world's economy. Corning Inc. has a market cap of $24.9 billion; its shares were traded at around $16.55 with a P/E ratio of 8.1 and P/S ratio of 4.6. The dividend yield of Corning Inc. stocks is 1.3%. Corning Inc. had an annual average earning growth of 4.9% over the past 5 years.

Added: Pfizer Inc (PFE)

Lee Ainslie added to his holdings in Pfizer Inc by 12.07%. His purchase prices were between $14.28 and $17.29, with an estimated average price of $15.97. The impact to his portfolio due to this purchase was 0.46%. His holdings were 23,217,741 shares as of 06/30/2010.

Pfizer Inc has a market cap of $128.34 billion; its shares were traded at around $16.03 with a P/E ratio of 7.2 and P/S ratio of 2.6. The dividend yield of Pfizer Inc stocks is 4.5%. Pfizer Inc had an annual average earning growth of 1.8% over the past 10 years.

Added: Gilead Sciences Inc. (GILD)

Lee Ainslie added to his holdings in Gilead Sciences Inc. by 38.05%. His purchase prices were between $32.91 and $46.35, with an estimated average price of $38.89. The impact to his portfolio due to this purchase was 0.42%. His holdings were 3,434,204 shares as of 06/30/2010.

Gilead Sciences, Inc. is an independent biopharmaceutical company that seeks to provide accelerated solutions for patients and the people who care for them. Gilead Sciences Inc. has a market cap of $30.13 billion; its shares were traded at around $33.86 with a P/E ratio of 10 and P/S ratio of 4.3. Gilead Sciences Inc. had an annual average earning growth of 38.1% over the past 5 years.

Added: Capella Education Company (CPLA)

Lee Ainslie added to his holdings in Capella Education Company by 190.18%. His purchase prices were between $79.12 and $97.58, with an estimated average price of $88.61. The impact to his portfolio due to this purchase was 0.41%. His holdings were 608,424 shares as of 06/30/2010.

CAPELLA EDUCATION COMPANY is a pioneer in developing high quality, online degree programs for adults. Capella Education Company has a market cap of $1.02 billion; its shares were traded at around $60.94 with a P/E ratio of 19 and P/S ratio of 3.1.

Added: Vanceinfo Techonlogies Inc. (VIT)

Lee Ainslie added to his holdings in Vanceinfo Techonlogies Inc. by 37.43%. His purchase prices were between $19.49 and $26.37, with an estimated average price of $22.95. The impact to his portfolio due to this purchase was 0.32%. His holdings were 3,949,976 shares as of 06/30/2010.

VanceInfo Technologies, Inc. provides information technology outsourcing services. Vanceinfo Techonlogies Inc. has a market cap of $1.05 billion; its shares were traded at around $26.21 with a P/E ratio of 42.6 and P/S ratio of 7.1.

Added: Solarwinds Inc. (SWI)

Lee Ainslie added to his holdings in Solarwinds Inc. by 91.62%. His purchase prices were between $16.43 and $24.85, with an estimated average price of $20. The impact to his portfolio due to this purchase was 0.31%. His holdings were 3,125,095 shares as of 06/30/2010.

SolarWinds, Inc., headquartered in Austin, Texas, provides powerful, simple and affordable network management software to more than 80,000 customers worldwide -- from Fortune 500 enterprises to small businesses. Solarwinds Inc. has a market cap of $977.6 million; its shares were traded at around $14.36 with a P/E ratio of 25.2 and P/S ratio of 8.4.

Added: Lender Processing (LPS)

Lee Ainslie added to his holdings in Lender Processing by 17.64%. His purchase prices were between $31.07 and $39.74, with an estimated average price of $35.37. The impact to his portfolio due to this purchase was 0.21%. His holdings were 3,464,066 shares as of 06/30/2010.

LENDER PROCESSING SERVICES, INC. is a provider of integrated technology and services to the mortgage industry. Lender Processing has a market cap of $2.79 billion; its shares were traded at around $30.09 with a P/E ratio of 8.8 and P/S ratio of 1.2. The dividend yield of Lender Processing stocks is 1.4%.

Added: Covidien Ltd. (COV)

Lee Ainslie added to his holdings in Covidien Ltd. by 16.34%. His purchase prices were between $39.5 and $52.28, with an estimated average price of $45.1. The impact to his portfolio due to this purchase was 0.2%. His holdings were 2,722,803 shares as of 06/30/2010.

Covidien PLC, formerly Covidien Ltd, is engaged in the development, manufacture and sale of healthcare products for use in clinical and home settings. Covidien Ltd. has a market cap of $19.5 billion; its shares were traded at around $38.13 with a P/E ratio of 11.8 and P/S ratio of 1.8. The dividend yield of Covidien Ltd. stocks is 1.9%.

Added: Expedia Inc. (EXPE)

Lee Ainslie added to his holdings in Expedia Inc. by 7.38%. His purchase prices were between $18.93 and $25.38, with an estimated average price of $22.53. The impact to his portfolio due to this purchase was 0.18%. His holdings were 11,170,682 shares as of 06/30/2010.

Expedia, Inc. is one of the world's travel services companies. Expedia Inc. has a market cap of $6.78 billion; its shares were traded at around $23.82 with a P/E ratio of 18 and P/S ratio of 2.3. The dividend yield of Expedia Inc. stocks is 1.2%. Expedia Inc. had an annual average earning growth of 4.2% over the past 5 years.

Added: Artio Global Investors Inc (ART)

Lee Ainslie added to his holdings in Artio Global Investors Inc by 38.08%. His purchase prices were between $16.24 and $25.65, with an estimated average price of $20.71. The impact to his portfolio due to this purchase was 0.06%. His holdings were 1,006,420 shares as of 06/30/2010.

Artio Global Investors Inc. is the holding company of Artio Global Management LLC, a registered investment adviser headquartered in New York City that actively invests in global equity and fixed income markets, primarily for institutional and intermediary clients. Artio Global Investors Inc has a market cap of $629.2 million; its shares were traded at around $14.99 with a P/E ratio of 7.7 and P/S ratio of 2. The dividend yield of Artio Global Investors Inc stocks is 1.6%.

Added: Signet Group Plc (SIG)

Lee Ainslie added to his holdings in Signet Group Plc by 26.1%. His purchase prices were between $27.31 and $34.1, with an estimated average price of $31.64. The impact to his portfolio due to this purchase was 0.05%. His holdings were 694,671 shares as of 06/30/2010.

Signet Group PLC operates specialist retail jewellery stores. Signet Group Plc has a market cap of $2.31 billion; its shares were traded at around $27.52 with a P/E ratio of 16.4 and P/S ratio of 0.7.

New Purchase: Citigroup Inc. (C)

Lee Ainslie initiated holdings in Citigroup Inc.. His purchase prices were between $3.63 and $4.97, with an estimated average price of $4.15. The impact to his portfolio due to this purchase was 2.98%. His holdings were 61,862,591 shares as of 06/30/2010.

Citigroup Inc. has a market cap of $112.44 billion; its shares were traded at around $3.87 with and P/S ratio of 1.2.

New Purchase: Adobe Systems Inc. (ADBE)

Lee Ainslie initiated holdings in Adobe Systems Inc.. His purchase prices were between $26.9 and $36.25, with an estimated average price of $33.17. The impact to his portfolio due to this purchase was 2.85%. His holdings were 8,418,813 shares as of 06/30/2010.

Adobe Systems Inc. has a market cap of $14.37 billion; its shares were traded at around $27.36 with a P/E ratio of 22.2 and P/S ratio of 4.9. Adobe Systems Inc. had an annual average earning growth of 10.2% over the past 10 years. GuruFocus rated Adobe Systems Inc. the business predictability rank of 4-star.

New Purchase: Citrix Systems Inc. (CTXS)

Lee Ainslie initiated holdings in Citrix Systems Inc.. His purchase prices were between $41.92 and $49.83, with an estimated average price of $45.88. The impact to his portfolio due to this purchase was 2.82%. His holdings were 5,211,744 shares as of 06/30/2010.

Citrix Systems, Inc. is one of the suppliers of application delivery and management software and services that enable the effective and efficient enterprise-wide deployment and management of applications. Citrix Systems Inc. has a market cap of $10.59 billion; its shares were traded at around $56.99 with a P/E ratio of 38 and P/S ratio of 6.6. Citrix Systems Inc. had an annual average earning growth of 4.2% over the past 10 years.

New Purchase: Skyworks Solutions Inc. (SWKS)

Lee Ainslie initiated holdings in Skyworks Solutions Inc.. His purchase prices were between $14.23 and $17.91, with an estimated average price of $16.06. The impact to his portfolio due to this purchase was 2.78%. His holdings were 12,955,619 shares as of 06/30/2010.

Skyworks Solutions, Inc. is the industry's wireless semiconductor company focused on radio frequency (RF) and complete semiconductor system solutions for mobile communications applications. Skyworks Solutions Inc. has a market cap of $3.03 billion; its shares were traded at around $17.13 with a P/E ratio of 17.8 and P/S ratio of 3.8.

New Purchase: Kohl's Corp. (KSS)

Lee Ainslie initiated holdings in Kohl's Corp.. His purchase prices were between $47.68 and $58.57, with an estimated average price of $53.72. The impact to his portfolio due to this purchase was 2.73%. His holdings were 4,496,471 shares as of 06/30/2010.

Kohl's Corp. has a market cap of $13.19 billion; its shares were traded at around $44.27 with a P/E ratio of 12.2 and P/S ratio of 0.8. Kohl's Corp. had an annual average earning growth of 13.4% over the past 10 years. GuruFocus rated Kohl's Corp. the business predictability rank of 4-star.

New Purchase: Comcast Corp. Special (CMCSK)

Lee Ainslie initiated holdings in Comcast Corp. Special. His purchase prices were between $16.0275 and $19.33, with an estimated average price of $17.43. The impact to his portfolio due to this purchase was 1.62%. His holdings were 7,721,130 shares as of 06/30/2010.

Comcast Corp. Special has a market cap of $48.16 billion; its shares were traded at around $16.66 with a P/E ratio of 13.8 and P/S ratio of 1.4. The dividend yield of Comcast Corp. Special stocks is 2.3%. Comcast Corp. Special had an annual average earning growth of 14.9% over the past 10 years.

New Purchase: Unitedhealth Group Inc. (UNH)

Lee Ainslie initiated holdings in Unitedhealth Group Inc.. His purchase prices were between $28.63 and $33.41, with an estimated average price of $30.47. The impact to his portfolio due to this purchase was 1.41%. His holdings were 3,876,542 shares as of 06/30/2010.

UnitedHealth Group Inc. offers health care coverage and related services to help people achieve improved health and well-being through all stages of life. Unitedhealth Group Inc. has a market cap of $36.15 billion; its shares were traded at around $31.9 with a P/E ratio of 8.5 and P/S ratio of 0.4. The dividend yield of Unitedhealth Group Inc. stocks is 1.6%. Unitedhealth Group Inc. had an annual average earning growth of 22.1% over the past 10 years. GuruFocus rated Unitedhealth Group Inc. the business predictability rank of 3.5-star.

New Purchase: Bank Of Ny Mellon Cp (BK)

Lee Ainslie initiated holdings in Bank Of Ny Mellon Cp. His purchase prices were between $25.11 and $32.54, with an estimated average price of $29.03. The impact to his portfolio due to this purchase was 1.4%. His holdings were 4,415,010 shares as of 06/30/2010.

Bank of New York is a bank holding company and one of the world's larger financial institutions. Bank Of Ny Mellon Cp has a market cap of $29.97 billion; its shares were traded at around $24.7 with a P/E ratio of 10.4 and P/S ratio of 2.2. The dividend yield of Bank Of Ny Mellon Cp stocks is 1.5%.

New Purchase: Invesco Ltdshs (IVZ)

Lee Ainslie initiated holdings in Invesco Ltdshs. His purchase prices were between $17.13 and $23.66, with an estimated average price of $20.32. The impact to his portfolio due to this purchase was 1.35%. His holdings were 6,255,390 shares as of 06/30/2010.

Invesco is a independent global investment management company, dedicated to helping people worldwide build their financial security. Invesco Ltdshs has a market cap of $8.71 billion; its shares were traded at around $18.55 with a P/E ratio of 18.1 and P/S ratio of 3.3. The dividend yield of Invesco Ltdshs stocks is 2.4%. Invesco Ltdshs had an annual average earning growth of 0.4% over the past 10 years.

New Purchase: Whiting Petroleum Corp. (WLL)

Lee Ainslie initiated holdings in Whiting Petroleum Corp.. His purchase prices were between $73.81 and $92.44, with an estimated average price of $84.72. The impact to his portfolio due to this purchase was 1.31%. His holdings were 1,307,400 shares as of 06/30/2010.

WHITING PETROLEUM CORPORATION, a Delaware corporation, is an independent oil and gas company that acquires, exploits, develops and explores for crude oil, natural gas and natural gas liquids primarily in the Permian Basin, Rocky Mountains, Mid-Continent, Gulf Coast and Michigan regions of the United States. Whiting Petroleum Corp. has a market cap of $4.59 billion; its shares were traded at around $88.45 with a P/E ratio of 26.2 and P/S ratio of 4.7. Whiting Petroleum Corp. had an annual average earning growth of 4.8% over the past 5 years.

New Purchase: Devry Inc. (DV)

Lee Ainslie initiated holdings in Devry Inc.. His purchase prices were between $52.85 and $74.25, with an estimated average price of $61.39. The impact to his portfolio due to this purchase was 1.29%. His holdings were 1,920,292 shares as of 06/30/2010.

DeVry Inc. owns and operates DeVry Institutes of Technology, DenverTechnical College, Keller Graduate School of Management and Becker Conviser CPA Review. Devry Inc. has a market cap of $2.62 billion; its shares were traded at around $38.97 with a P/E ratio of 9.5 and P/S ratio of 1.4. The dividend yield of Devry Inc. stocks is 0.5%. Devry Inc. had an annual average earning growth of 6.6% over the past 10 years. GuruFocus rated Devry Inc. the business predictability rank of 2.5-star.

New Purchase: Comcast Corp. (CMCSA)

Lee Ainslie initiated holdings in Comcast Corp.. His purchase prices were between $16.77 and $20.39, with an estimated average price of $18.32. The impact to his portfolio due to this purchase was 1.23%. His holdings were 5,530,800 shares as of 06/30/2010.

Comcast Corp., among the world's communication companies, provides basic cable, digital cable and high speed internet services that connect people to what's important in their lives. Comcast Corp. has a market cap of $49.82 billion; its shares were traded at around $17.75 with a P/E ratio of 14.7 and P/S ratio of 1.4. The dividend yield of Comcast Corp. stocks is 2.1%. Comcast Corp. had an annual average earning growth of 14.9% over the past 10 years.

New Purchase: Children's Place Retail Stores Inc. (PLCE)

Lee Ainslie initiated holdings in Children's Place Retail Stores Inc.. His purchase prices were between $41.17 and $49.67, with an estimated average price of $46.2. The impact to his portfolio due to this purchase was 1.17%. His holdings were 2,075,041 shares as of 06/30/2010.

The Children's Place Retail Stores, Inc. is a growing specialty retailer of apparel and accessories for children from newborn to twelve years of age. Children's Place Retail Stores Inc. has a market cap of $1.14 billion; its shares were traded at around $40.93 with a P/E ratio of 13.7 and P/S ratio of 0.7. Children's Place Retail Stores Inc. had an annual average earning growth of 9.6% over the past 10 years. GuruFocus rated Children's Place Retail Stores Inc. the business predictability rank of 2.5-star.

New Purchase: Teva Pharmaceutical Industries Ltd. (TEVA)

Lee Ainslie initiated holdings in Teva Pharmaceutical Industries Ltd.. His purchase prices were between $51.2725 and $63.77, with an estimated average price of $57.18. The impact to his portfolio due to this purchase was 0.83%. His holdings were 1,244,423 shares as of 06/30/2010.

TEVA Pharmaceuticals USA, the business is to develop, manufacture, and market generic pharmaceuticals. Teva Pharmaceutical Industries Ltd. has a market cap of $46.8 billion; its shares were traded at around $50.27 with a P/E ratio of 13.1 and P/S ratio of 3.4. The dividend yield of Teva Pharmaceutical Industries Ltd. stocks is 1.2%. Teva Pharmaceutical Industries Ltd. had an annual average earning growth of 22.6% over the past 10 years. GuruFocus rated Teva Pharmaceutical Industries Ltd. the business predictability rank of 4-star.

New Purchase: Toyota Motor Corp. (TM)

Lee Ainslie initiated holdings in Toyota Motor Corp.. His purchase prices were between $68.48 and $81.26, with an estimated average price of $75.06. The impact to his portfolio due to this purchase was 0.46%. His holdings were 529,694 shares as of 06/30/2010.

Toyota Motor Corp. has a market cap of $110.07 billion; its shares were traded at around $70.48 with a P/E ratio of 43.1 and P/S ratio of 0.5. The dividend yield of Toyota Motor Corp. stocks is 1.3%.

New Purchase: Education Management Corp. (EDMC)

Lee Ainslie initiated holdings in Education Management Corp.. His purchase prices were between $15.33 and $25.56, with an estimated average price of $21. The impact to his portfolio due to this purchase was 0.2%. His holdings were 1,023,601 shares as of 06/30/2010.

Education Management LLC provides post-secondary education in North America. Education Management Corp. has a market cap of $1.39 billion; its shares were traded at around $9.71 with a P/E ratio of 6.5 and P/S ratio of 0.6.

New Purchase: Medidata Solutions Inc. (MDSO)

Lee Ainslie initiated holdings in Medidata Solutions Inc.. His purchase prices were between $13.64 and $16.42, with an estimated average price of $14.93. The impact to his portfolio due to this purchase was 0.13%. His holdings were 643,331 shares as of 06/30/2010.

Medidata Solutions is a global provider of hosted clinical development solutions that enhance the efficiency of customers' clinical development processes and optimize their research and development investments. Medidata Solutions Inc. has a market cap of $388.3 million; its shares were traded at around $16.77 with a P/E ratio of 45.3 and P/S ratio of 2.8.

Reduced: Winnebago Industries Inc. (WGO)

Lee Ainslie reduced to his holdings in Winnebago Industries Inc. by 25.25%. His sale prices were between $10.03 and $17.3, with an estimated average price of $13.61. The impact to his portfolio due to this sale was -0.06%. Lee Ainslie still held 1,730,915 shares as of 06/30/2010.

Winnebago Industries, Inc. is a U.S. manufacturer of motor homes,self-contained recreation vehicles used primarily in leisure travel and outdoor recreation activities. Winnebago Industries Inc. has a market cap of $257.2 million; its shares were traded at around $9.3 with and P/S ratio of 1.2.

Reduced: American Public Education, Inc. (APEI)

Lee Ainslie reduced to his holdings in American Public Education, Inc. by 49.25%. His sale prices were between $40.35 and $48, with an estimated average price of $44.74. The impact to his portfolio due to this sale was -0.1%. Lee Ainslie still held 379,480 shares as of 06/30/2010.

American Public Education, Inc. is an online provider of higher education focused primarily on serving the military and public service communities. American Public Education, Inc. has a market cap of $458 million; its shares were traded at around $24.92 with a P/E ratio of 16.8 and P/S ratio of 3.1.

Sold Out: Berkshire Hathaway Inc. (BRK.A)

Lee Ainslie sold out his holdings in Berkshire Hathaway Inc.. His sale prices were between $104950 and $122420, with an estimated average price of $115046.

Berkshire Hathaway Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities. Berkshire Hathaway Inc. has a market cap of $189.83 billion; its shares were traded at around $115260 with a P/E ratio of 22 and P/S ratio of 2.1. Berkshire Hathaway Inc. had an annual average earning growth of 13.2% over the past 10 years.

Sold Out: Athenahealth, Inc. (ATHN)

Lee Ainslie sold out his holdings in Athenahealth, Inc.. His sale prices were between $22.46 and $38.25, with an estimated average price of $29.23.

ATHENAHEALTH INC is a provider of internet-based business services for physician practices. Athenahealth, Inc. has a market cap of $1.03 billion; its shares were traded at around $31.13 with a P/E ratio of 119.7 and P/S ratio of 5.5.

Sold Out: Cypress Bioscience Inc. (CYPB)

Lee Ainslie sold out his holdings in Cypress Bioscience Inc.. His sale prices were between $2.31 and $5.24, with an estimated average price of $4.34.

Cypress Bioscience, Inc. is committed to be the innovator and leader in providing products that improve the treatment of Functional Somatic Syndromes and other central nervous system conditions. Cypress Bioscience Inc. has a market cap of $146.2 million; its shares were traded at around $3.81 with and P/S ratio of 5.4. Cypress Bioscience Inc. had an annual average earning growth of 8.6% over the past 5 years.

Sold Out: Newstar Financial, Inc. (NEWS)

Lee Ainslie sold out his holdings in Newstar Financial, Inc.. His sale prices were between $6.4 and $8.28, with an estimated average price of $7.17.

NEWSTAR FINANCIAL INC is a specialized commercial finance company focused on meeting the complex financing needs of companies and private investors in the middle markets. Newstar Financial, Inc. has a market cap of $358.9 million; its shares were traded at around $7.2 with and P/S ratio of 2.4.

Sold Out: Northwest Bancorp Inc. (NWBI)

Lee Ainslie sold out his holdings in Northwest Bancorp Inc.. His sale prices were between $11.3 and $12.76, with an estimated average price of $11.9.

Northwest Bancorp, Inc. is a bank holding company whose sole activity is the ownership of all of the issued and outstanding common stock of Northwest Savings Bank and the majority ownership of Jamestown Savings Bank. Northwest Bancorp Inc. has a market cap of $1.22 billion; its shares were traded at around $11.03 with a P/E ratio of 28.2 and P/S ratio of 2.9. The dividend yield of Northwest Bancorp Inc. stocks is 3.6%. Northwest Bancorp Inc. had an annual average earning growth of 26.7% over the past 10 years. GuruFocus rated Northwest Bancorp Inc. the business predictability rank of 2.5-star.

Sold Out: Discovery Communications, Inc (DISCA)

Lee Ainslie sold out his holdings in Discovery Communications, Inc. His sale prices were between $33.81 and $39.53, with an estimated average price of $36.99.

DISCOVERY COMMUNICATIONS INC., formerly Discovery Holding Company, is a holding company that conducts operations through its two wholly owned operating subsidiaries, Ascent Media Group, LLC and Ascent Media CANS, LLC, and throught its 66. Discovery Communications, Inc has a market cap of $10.48 billion; its shares were traded at around $36.97 with a P/E ratio of 24.8 and P/S ratio of 3. Discovery Communications, Inc had an annual average earning growth of 129.9% over the past 5 years.

Sold Out: Health Net Inc. (HNT)

Lee Ainslie sold out his holdings in Health Net Inc.. His sale prices were between $21.83 and $27.67, with an estimated average price of $24.27.

Health Net, Inc. is an integrated managed care organization which administers the delivery of managed health care services. Health Net Inc. has a market cap of $2.6 billion; its shares were traded at around $25.73 with a P/E ratio of 10.7 and P/S ratio of 0.2. Health Net Inc. had an annual average earning growth of 5.5% over the past 5 years.

Sold Out: The Men's Wearhouse Inc. (MW)

Lee Ainslie sold out his holdings in The Men's Wearhouse Inc.. His sale prices were between $18.35 and $27.18, with an estimated average price of $22.56.

Men's Wearhouse, Inc. is one of the largest specialty retailers of menswear in the United States and Canada. The Men's Wearhouse Inc. has a market cap of $996.7 million; its shares were traded at around $19.23 with a P/E ratio of 14.9 and P/S ratio of 0.5. The dividend yield of The Men's Wearhouse Inc. stocks is 1.9%. The Men's Wearhouse Inc. had an annual average earning growth of 5% over the past 10 years.

Sold Out: Raytheon Company (RTN)

Lee Ainslie sold out his holdings in Raytheon Company. His sale prices were between $48.75 and $60.01, with an estimated average price of $55.09.

Raytheon Company is a global technology company. The company providesproducts and services in the areas of defense and commercial electronics,engineering and construction, and business and special mission aircraft. Raytheon Company has a market cap of $17.11 billion; its shares were traded at around $44.76 with a P/E ratio of 9 and P/S ratio of 0.7. The dividend yield of Raytheon Company stocks is 3.3%. Raytheon Company had an annual average earning growth of 9.5% over the past 10 years.

Sold Out: Fedex Corp. (FDX)

Lee Ainslie sold out his holdings in Fedex Corp.. His sale prices were between $71.51 and $95.62, with an estimated average price of $85.19.

FedEx Corporation is a global transportation and logistics enterprise that offers customers a one-stop source for global shipping, logistics and supply chain solutions. Fedex Corp. has a market cap of $25.12 billion; its shares were traded at around $80.98 with a P/E ratio of 21.2 and P/S ratio of 0.7. The dividend yield of Fedex Corp. stocks is 0.6%. Fedex Corp. had an annual average earning growth of 1.8% over the past 10 years.

Sold Out: Office Depot Inc. (ODP)

Lee Ainslie sold out his holdings in Office Depot Inc.. His sale prices were between $3.94 and $8.95, with an estimated average price of $6.42.

Office Depot, Inc., together with its subsidiaries, is the one of the largest suppliers of office products and services in the world. Office Depot Inc. has a market cap of $1.08 billion; its shares were traded at around $4 with and P/S ratio of 0.1.

Sold Out: Bank Of America Corp. (BAC)

Lee Ainslie sold out his holdings in Bank Of America Corp.. His sale prices were between $14.57 and $19.48, with an estimated average price of $16.73.

Bank of America Corp. is one of the world's financial services companies. Bank Of America Corp. has a market cap of $115.68 billion; its shares were traded at around $13.19 with and P/S ratio of 0.8. The dividend yield of Bank Of America Corp. stocks is 0.3%.

Sold Out: Dish Network Corporation Class A Common (DISH)

Lee Ainslie sold out his holdings in Dish Network Corporation Class A Common. His sale prices were between $18.42 and $23.15, with an estimated average price of $21.32.

DISH NETWORK CP offers satellite television products and services. Dish Network Corporation Class A Common has a market cap of $7.98 billion; its shares were traded at around $17.86 with a P/E ratio of 10.7 and P/S ratio of 0.7. Dish Network Corporation Class A Common had an annual average earning growth of 24.2% over the past 5 years.

Sold Out: Dell Inc. (DELL)

Lee Ainslie sold out his holdings in Dell Inc.. His sale prices were between $12.27 and $17.5, with an estimated average price of $14.79.

Dell Inc. is a premier provider of products and services required for customers worldwide to build their information-technology and Internet infrastructures. Dell Inc. has a market cap of $23.42 billion; its shares were traded at around $11.96 with a P/E ratio of 11.4 and P/S ratio of 0.4. Dell Inc. had an annual average earning growth of 4.1% over the past 10 years.

Sold Out: Carnival Corp. (CCL)

Lee Ainslie sold out his holdings in Carnival Corp.. His sale prices were between $30.14 and $43.85, with an estimated average price of $37.58.

Carnival Corporation is one of the world's largest multiple-night cruise companies. Carnival Corp. has a market cap of $19.81 billion; its shares were traded at around $32.47 with a P/E ratio of 15.3 and P/S ratio of 1.5. The dividend yield of Carnival Corp. stocks is 1.2%. Carnival Corp. had an annual average earning growth of 14.2% over the past 10 years. GuruFocus rated Carnival Corp. the business predictability rank of 2.5-star.

Sold Out: The Pnc Financial Services Group Inc. (PNC)

Lee Ainslie sold out his holdings in The Pnc Financial Services Group Inc.. His sale prices were between $57.58 and $69.64, with an estimated average price of $63.35.

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. The Pnc Financial Services Group Inc. has a market cap of $28.75 billion; its shares were traded at around $55.64 with a P/E ratio of 13.3 and P/S ratio of 1.7. The dividend yield of The Pnc Financial Services Group Inc. stocks is 0.7%. The Pnc Financial Services Group Inc. had an annual average earning growth of 3.8% over the past 10 years.

Sold Out: Abercrombie & Fitch Co. (ANF)

Lee Ainslie sold out his holdings in Abercrombie & Fitch Co.. His sale prices were between $30.39 and $49.98, with an estimated average price of $40.59.

Abercrombie & Fitch Co. is principally engaged in the purchase, distribution and sale of men's, women's and kids' casual apparel. Abercrombie & Fitch Co. has a market cap of $3.32 billion; its shares were traded at around $37.63 with a P/E ratio of 39.2 and P/S ratio of 1.1. The dividend yield of Abercrombie & Fitch Co. stocks is 1.9%. Abercrombie & Fitch Co. had an annual average earning growth of 3.7% over the past 10 years.

Sold Out: Mead Johnson Nutriti (MJN)

Lee Ainslie sold out his holdings in Mead Johnson Nutriti. His sale prices were between $47.61 and $54.39, with an estimated average price of $51.16.

Mead Johnson Nutrition Company is a pediatric nutrition company. Mead Johnson Nutriti has a market cap of $10.94 billion; its shares were traded at around $52.45 with a P/E ratio of 23.3 and P/S ratio of 3.9. The dividend yield of Mead Johnson Nutriti stocks is 1.7%.

Sold Out: Oracle Corp. (ORCL)

Lee Ainslie sold out his holdings in Oracle Corp.. His sale prices were between $21.54 and $26.4825, with an estimated average price of $24.01.

Oracle Corporation is one of the world's suppliers of software for information management. Oracle Corp. has a market cap of $114.2 billion; its shares were traded at around $22.72 with a P/E ratio of 14.3 and P/S ratio of 4.3. The dividend yield of Oracle Corp. stocks is 0.9%. Oracle Corp. had an annual average earning growth of 16.7% over the past 10 years. GuruFocus rated Oracle Corp. the business predictability rank of 2.5-star.

Sold Out: Visa Inc. (V)

Lee Ainslie sold out his holdings in Visa Inc.. His sale prices were between $70.09 and $96.59, with an estimated average price of $82.37.

VISA operates the world's largest retail electronic payments network and is one of the most recognized global financial services brands. Visa Inc. has a market cap of $60.52 billion; its shares were traded at around $72.83 with a P/E ratio of 19.7 and P/S ratio of 8.8. The dividend yield of Visa Inc. stocks is 0.7%.

Sold Out: Hewlettpackard Company (HPQ)

Lee Ainslie sold out his holdings in Hewlettpackard Company. His sale prices were between $44.3 and $54.26, with an estimated average price of $49.29.

Hewlett Packard is one of the global providers of computing and imaging solutions and services for business and home. Hewlettpackard Company has a market cap of $95.39 billion; its shares were traded at around $40.55 with a P/E ratio of 9.7 and P/S ratio of 0.8. The dividend yield of Hewlettpackard Company stocks is 0.8%. Hewlettpackard Company had an annual average earning growth of 26.5% over the past 5 years.


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