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Tweedy Browne Buys WellPoint Inc., Jefferies Group Inc., Fisher Communications Inc., Sells Bank of America Corp., MB Financial Inc., BristolMyers Squibb Company

insider

Tweedy Brown, the conservative value firm, has just released their portoflio for the end of second quarter. They think that pricing opportunities are surfacing and the discount between market value and
intrinsic value is growing in their portfolio. These are their buys and sells during the second quarter.

Tweedy Browne buys WellPoint Inc., Jefferies Group Inc., Fisher Communications Inc., sells Natuzzi S.p.A., MB Financial Inc., BristolMyers Squibb Company, Blount International Inc., Bank of America Corp., Allied Irish Banks P.L.C. during the 3-months ended 06/30/2008, according to the most recent filings of his investment company, Tweedy Browne CO LLC. Tweedy Browne owns 64 stocks with a total value of $2.1 billion. These are the details of the buys and sells.

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

Added: Avatar Holdings Inc. (AVTR)

Tweedy Browne added to their holdings in Avatar Holdings Inc. by 833.08%. Their purchase prices were between $30.86 and $46.04, with an estimated average price of $37.9. The impact to their portfolio due to this purchase was 0.92%. Their holdings were 716,380 shares as of 06/30/2008.

Avatar Holdings Inc. and its subsidiaries are engaged in two principal business activities: real estate and water and wastewater utilities operations. The real estate operations include: development construction and sale of single family and multifamily housing communities; development sale and management of vacation ownership intervals improved and unimproved homesites and commercial/industrial land tracts; operations of resorts cable television and property management services. Their utility operations consist of water and wastewater treatment plants which serve Florida and Arizona. Avatar Holdings Inc. has a market cap of $269.89 million; its shares were traded at around $31.61 with a P/E ratio of 27.23 and P/S ratio of 1.22.

Added: G&K Services Inc. (GKSR)

Tweedy Browne added to their holdings in G&K Services Inc. by 1029.45%. Their purchase prices were between $30.73 and $36.17, with an estimated average price of $33.7. The impact to their portfolio due to this purchase was 0.29%. Their holdings were 219,735 shares as of 06/30/2008.

G&K Services Inc. is a market leader in branded identity apparel programs and facility services in the United States and is the largest such provider in Canada. G&K operates over processing facilities and branch offices. G&K Services Inc. has a market cap of $686.72 million; its shares were traded at around $34.73 with a P/E ratio of 15.17 and P/S ratio of 0.68. The dividend yield of G&K Services Inc. stocks is 0.6%.

Added: Honda Motor Co. Ltd. (HMC)

Tweedy Browne added to their holdings in Honda Motor Co. Ltd. by 4.49%. Their purchase prices were between $28.07 and $35.65, with an estimated average price of $32.4. The impact to their portfolio due to this purchase was 0.19%. Their holdings were 2,717,500 shares as of 06/30/2008.

Honda manufactures a wide range of products including motorcycles ATVs generators marine engines lawn and garden equipment and automobiles. Historically Honda has been a leader in fuel-efficiency and low-emission technology. Honda Motor Co. Ltd. has a market cap of $115.55 billion; its shares were traded at around $31.84 with a P/E ratio of 20.41 and P/S ratio of 1.04. The dividend yield of Honda Motor Co. Ltd. stocks is 0.58%.

Added: Cintas Corp. (CTAS)

Tweedy Browne added to their holdings in Cintas Corp. by 92.92%. Their purchase prices were between $26.12 and $31.01, with an estimated average price of $28.9. The impact to their portfolio due to this purchase was 0.16%. Their holdings were 261,610 shares as of 06/30/2008.

Cintas Corp. provides a specialized service to businesses of all types - from small service and manufacturing companies to major corporations. The company is divided into two operating segments: Rentals and Other Services. The Rentals operating segment designs and manufactures corporate identity uniforms which it rents to its customers. The Other Services operating segment involves the design manufacture and direct sale of uniforms to its customers as well as the sale of ancillary services including sanitation supplies first aid products and cleanroom supplies. Cintas Corp. has a market cap of $4.51 billion; its shares were traded at around $29.32 with a P/E ratio of 13.63 and P/S ratio of 1.15. The dividend yield of Cintas Corp. stocks is 1.6%.

Added: General Electric Company (GE)

Tweedy Browne added to their holdings in General Electric Company by 22.27%. Their purchase prices were between $26.26 and $37.15, with an estimated average price of $31. The impact to their portfolio due to this purchase was 0.02%. Their holdings were 102,615 shares as of 06/30/2008.

General Electric is one of the largest and most diversified industrial corporations in the world. GE is engaged in developing manufacturing and marketing a wide variety of products for the generation transmission distribution control and utilization of electricity. Some of GE's products include major appliances; lighting products; industrial automation products; medical diagnostic imaging equipment; motors; electrical distribution and control equipment; locomotives; power generation and delivery products. General Electric Company has a market cap of $288.49 billion; its shares were traded at around $29 with a P/E ratio of 13.49 and P/S ratio of 1.61. The dividend yield of General Electric Company stocks is 4.4%.

Added: AT&T Inc. (T)

Tweedy Browne added to their holdings in AT&T Inc. by 188.96%. Their purchase prices were between $32.36 and $39.64, with an estimated average price of $37.3. The impact to their portfolio due to this purchase was 0.02%. Their holdings were 21,860 shares as of 06/30/2008.

SBC Communications Inc. is in the communications industry. Through its subsidiaries' trusted brands and world-class network SBC and its affiliated companies provide voice data networking and e-business services including local and long-distance voice high-speed Internet access and data transport voice and data network integration software and process integration Web site and application hosting e-marketplace development paging and messaging as well as cable and satellite TV and directory advertising and publishing. (Company Press Release) AT&T Inc. has a market cap of $181.89 billion; its shares were traded at around $30.87 with a P/E ratio of 13.91 and P/S ratio of 1.50. The dividend yield of AT&T Inc. stocks is 5.26%.

New Purchase: WellPoint Inc. (WLP)

Tweedy Browne initiated holdings in WellPoint Inc.. Their purchase prices were between $46 and $55.82, with an estimated average price of $51. The impact to their portfolio due to this purchase was 1.83%. Their holdings were 809,435 shares as of 06/30/2008.

WellPoint Inc. is the largest publicly traded commercial health benefits company in terms of membership in the United States. WellPoint Inc. is an independent licensee of the Blue Cross and Blue Shield Association and serves its members as the Blue Cross licensee for California; the Blue Cross and Blue Shield licensee for Colorado Connecticut Georgia Indiana Kentucky Maine Missouri Nevada New Hampshire Ohio Virginia (excluding the Northern Virginia suburbs of Washington D.C.) Wisconsin; and through HealthLink and UniCare. WellPoint Inc. has a market cap of $27.5 billion; its shares were traded at around $53.79 with a P/E ratio of 9.81 and P/S ratio of 0.45.

New Purchase: Jefferies Group Inc. (JEF)

Tweedy Browne initiated holdings in Jefferies Group Inc.. Their purchase prices were between $14.39 and $19.93, with an estimated average price of $17.5. The impact to their portfolio due to this purchase was 0.23%. Their holdings were 283,225 shares as of 06/30/2008.

Jefferies Group Inc. is a holding company whose affiliated companies including its principal operating subsidiary Jefferies & Company Inc. offer a variety of services for institutional investors and middle-market companies. Subsidiaries of Jefferies Group Inc. together comprise a full-service investment bank and institutional securities firm focused on the middle market. Jefferies offers financial advisory capital raising mergers and acquisitions and restructuring services to small and mid-cap companies. Jefferies Group Inc. has a market cap of $3.27 billion; its shares were traded at around $20.15 with P/S ratio of 2.52. The dividend yield of Jefferies Group Inc. stocks is 2.6%.

New Purchase: Fisher Communications Inc. (FSCI)

Tweedy Browne initiated holdings in Fisher Communications Inc.. Their purchase prices were between $30.16 and $35.12, with an estimated average price of $32.3. The impact to their portfolio due to this purchase was 0.01%. Their holdings were 5,824 shares as of 06/30/2008.

Fisher Communications Inc. is a media and communications company engaged primarily in television and radio broadcasting operations television programming development and production and satellite teleport operations. The company is engaged in real estate investment and management and flour milling and bakery products distribution. Also the company is seeking to sell our flour milling and bakery products distribution businesses. Fisher Communications Inc. has a market cap of $324.14 million; its shares were traded at around $37.13 with a P/E ratio of 3.47 and P/S ratio of 1.93.

Reduced: Con-way Inc. (CNW)

Tweedy Browne reduced to their holdings in Con-way Inc. by 47.96%. Their sale prices were between $45.63 and $50.16, with an estimated average price of $47.7. The impact to their portfolio due to this sale was -0.49%. Tweedy Browne still held 456,072 shares as of 06/30/2008.

Con-way Inc.is a freight transportation and logistics company with businesses in less-than-truckload and full truckload freight services brokerage logistics warehousing supply chain management and trailer manufacturing. The company and its subsidiaries operate across North America. Con-way?s principal component companies: Con-way Transportation Services Menlo Worldwide and Road Systems operate in regional trucking ground expedite truckload brokerage air freight forwarding regional asset based truckload global logistics management e-commerce fulfillment and trailer manufacturing. The combined components of Con-way today provide the full range of supply chain management services. Con-way has operations on five continents and provides service to essentially every major business address in the United States. Con-way Inc. has a market cap of $2.36 billion; its shares were traded at around $52.11 with a P/E ratio of 17.39 and P/S ratio of 0.49. The dividend yield of Con-way Inc. stocks is 0.81%.

Reduced: American International Group Inc. (AIG)

Tweedy Browne reduced to their holdings in American International Group Inc. by 40.66%. Their sale prices were between $27.75 and $48.77, with an estimated average price of $39.6. The impact to their portfolio due to this sale was -2.41%. Tweedy Browne still held 4,709,375 shares as of 06/30/2008.

American International Group Inc. world leaders in insurance and financial services is the leading international insurance organization with operations in more than one hundred thirty countries and jurisdictions. AIG companies serve commercial institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition AIG companies are leading providers of retirement services financial services and asset management around the world. American International Group Inc. has a market cap of $72.49 billion; its shares were traded at around $29.09 with P/S ratio of 0.80. The dividend yield of American International Group Inc. stocks is 2.99%.

Sold Out: Allied Irish Banks P.L.C. (AIB)

Tweedy Browne sold out their holdings in Allied Irish Banks P.L.C.. Their sale prices were between $30.94 and $44.5, with an estimated average price of $40. The impact to their portfolio due to this sale was less than 0.01%.

Allied Irish Banks plc provides a full range of banking services through over 319 offices in Ireland 82 branches in Northern Ireland and 37 offices in the UK. In addition the Company operates over 200 branches in the United States through its wholly owned subsidiary First Maryland Bancorp. Allied Irish Banks P.L.C. has a market cap of $12.31 billion; its shares were traded at around $28.02 with a P/E ratio of 4.15 and P/S ratio of 1.50. The dividend yield of Allied Irish Banks P.L.C. stocks is 9.17%.

Sold Out: Bank of America Corp. (BAC)

Tweedy Browne sold out their holdings in Bank of America Corp.. Their sale prices were between $24.59 and $39.03, with an estimated average price of $33.8. The impact to their portfolio due to this sale was less than 0.01%.

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 $148.95 billion; its shares were traded at around $33.45 with a P/E ratio of 18.42 and P/S ratio of 3.08. The dividend yield of Bank of America Corp. stocks is 7.68%.

Sold Out: Blount International Inc. (BLT)

Tweedy Browne sold out their holdings in Blount International Inc.. Their sale prices were between $11.82 and $14.01, with an estimated average price of $13.2. The impact to their portfolio due to this sale was less than 0.01%.

Blount International Inc. is an international manufacturing company with operations in three business segments: Outdoor Products Industrial and Power Equipment and Sporting Equipment. Headquartered in Montgomery Alabamatheir focus is on manufacturing products which offer superior competitive advantage and hold leading market share positions industry-leading distribution and exceptional customer service. Blount International Inc. has a market cap of $562.46 million; its shares were traded at around $11.87 with a P/E ratio of 12.68 and P/S ratio of 1.05.

Sold Out: BristolMyers Squibb Company (BMY)

Tweedy Browne sold out their holdings in BristolMyers Squibb Company. Their sale prices were between $19.28 and $23, with an estimated average price of $21.3. The impact to their portfolio due to this sale was less than 0.01%.

Bristol-Myers Squibb Company is a global leader in the research and development of innovative lifesaving and life-enhancing treatments for heart disease; high blood pressure; stroke; diabetes; cancer; HIV/AIDS and other infectious diseases; depression schizophrenia and other mental disorders; pain; and other conditions. BristolMyers Squibb Company has a market cap of $43.21 billion; its shares were traded at around $21.89 with a P/E ratio of 19.83 and P/S ratio of 2.06. The dividend yield of BristolMyers Squibb Company stocks is 5.87%.

Sold Out: Natuzzi S.p.A. (NTZ)

Tweedy Browne sold out their holdings in Natuzzi S.p.A.. Their sale prices were between $3.2 and $4.1, with an estimated average price of $3.7. The impact to their portfolio due to this sale was less than 0.01%.

Natuzzi Spa through its subsidiaries designs manufactures and markets contemporary leather furniture. The Company markets love-seats sofas arm-chairs sectional furniture and sofa beds in the low to medium price range. Industrie Natuzzi manufactures its furniture in Italy and exports about 97% of it to major retailers and furniture stores in the United States and Europe. Natuzzi S.p.A. has a market cap of $155.23 million; its shares were traded at around $2.83 with P/S ratio of 0.14.

Sold Out: MB Financial Inc. (MBFI)

Tweedy Browne sold out their holdings in MB Financial Inc.. Their sale prices were between $23.35 and $31.23, with an estimated average price of $28. The impact to their portfolio due to this sale was less than 0.01%.

MB Financial Inc. is a bank holding company which conducts a commercial banking business through Manufacturers Bank. MB Financial Inc. has a market cap of $935.35 million; its shares were traded at around $26.84 with a P/E ratio of 11.54 and P/S ratio of 3.49. The dividend yield of MB Financial Inc. stocks is 3%.


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