Western Digital has been in the portfolio since 2007 when we initially purchased the stock in the mid teens. We aggressively added to the position during the financial crisis when the stock traded as low as $10. WDC, which closed at $41.39, along with Seagate Technology, dominates the Hard Disk Drive (HDD) business. WDC has roughly 40% market share of an approximate 700 million unit world-wide market. During the first quarter, WDC closed its deal to purchase Hitachi’s HDD business for $4.8 billion. We believe this deal will add substantial earnings and free cash flow to the company over the next couple of years. Consensus earnings estimates for the combined company recently were increased to over $8 for WDC’s fiscal (June) year end 2013.