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Richard Pzena Buys National City Corp., Motorola Inc., Mattel Inc., Sells Circuit City Stores Inc., Chevron Corp., Chesapeake Energy Corp.

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Richard Pzena has been very bullish with financials, although he has been proven wrong by the market ... for now. He sees opportunities in financial sector and created a new financial opportunity service. Is he wrong, or just early? These are his buys and sells during the second quarter.

Richard Pzena buys National City Corp., Motorola Inc., Mattel Inc., PharmaNet Development Group Inc., Hilb Rogal & Hobbs Company, The Timberland Company, Harman International Industries Inc., Medtronic Inc., CSG Systems International Inc., Arthur J. Gallagher & Co., Indymac Bancorp Inc., Mercer Insurance Group Inc., Milacron Inc., Covidien Ltd., Cardinal Health Inc., sells Circuit City Stores Inc., Countrywide Financial Corp., Chesapeake Energy Corp., CONMED Corp., Chevron Corp., Electronic Data Systems Corp., Horace Mann Educators Corp., United America Indemnity Ltd., Nara Bancorp Inc. during the 3-months ended 06/30/2008, according to the most recent filings of his investment company, Pzena Investment Management LLC. Richard Pzena owns 141 stocks with a total value of $15787.6 billion. These are the details of the buys and sells.

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

Added: Wachovia Corp. (WB)

Richard Pzena added to his holdings in Wachovia Corp. by 74441.6%. His purchase prices were between $16.22 and $29.62, with an estimated average price of $24.1. The impact to his portfolio due to this purchase was 2.48%. His holdings were 25,195,054 shares as of 06/30/2008.

Wachovia Corporation is a leading provider of financial services to retail and corporate customers throughout the East Coast and the nation. The company operates full-service banking offices in East Coast states and Washington D.C. and offers full-service brokerage with offices in 47 states and global services through more than 30 international offices. Wachovia Corp. has a market cap of $38.3 billion; its shares were traded at around $17.93 with P/S ratio of 1.98. The dividend yield of Wachovia Corp. stocks is 7.9%.

Added: J.C. Penney Company Inc. (JCP)

Richard Pzena added to his holdings in J.C. Penney Company Inc. by 292.06%. His purchase prices were between $36.63 and $44.94, with an estimated average price of $40.3. The impact to his portfolio due to this purchase was 1.28%. His holdings were 7,472,200 shares as of 06/30/2008.

JCPenney is one of America's leading retailers operating department stores throughout the United States and Puerto Rico as well as one of the largest apparel and home furnishing sites on the Internet jcp.com and the nation's largest general merchandise catalog business. Through these integrated channels JCPenney offers a wide array of national private and exclusive brands. J.C. Penney Company Inc. has a market cap of $7.94 billion; its shares were traded at around $35.75 with a P/E ratio of 8.05 and P/S ratio of 0.38. The dividend yield of J.C. Penney Company Inc. stocks is 2.65%.

Added: ScheringPlough Corp. (SGP)

Richard Pzena added to his holdings in ScheringPlough Corp. by 10049%. His purchase prices were between $16.01 and $20.33, with an estimated average price of $18.6. The impact to his portfolio due to this purchase was 0.76%. His holdings were 6,198,494 shares as of 06/30/2008.

Schering-Plough Corporation and its subsidiaries are engaged in the discovery development manufacturing and marketing of pharmaceutical products worldwide. The company operates primarily in the prescription pharmaceutical marketplace. However where appropriate the company has sought regulatory approval to switch prescription products to over-the-counter status as a means of extending a product's life cycle. ScheringPlough Corp. has a market cap of $33.54 billion; its shares were traded at around $20.63 with P/S ratio of 2.03. The dividend yield of ScheringPlough Corp. stocks is 1.27%.

Added: Amgen Inc. (AMGN)

Richard Pzena added to his holdings in Amgen Inc. by 19.24%. His purchase prices were between $41.53 and $46.37, with an estimated average price of $43.3. The impact to his portfolio due to this purchase was 0.6%. His holdings were 12,446,709 shares as of 06/30/2008.

Amgen Inc. discovers develops and delivers innovative human therapeutics. A biotechnology pioneer Amgen was one of the first companies to realize the new science's promise by bringing safe and effective medicines from lab to manufacturing plant to patient. Amgen therapeutics have changed the practice of medicine helping millions of people around the world in the fight against cancer kidney disease rheumatoid arthritis and other serious illnesses. With a deep and broad pipeline of potential new medicines Amgen remains committed to advancing science to dramatically improve people's lives. Amgen Inc. has a market cap of $67.44 billion; its shares were traded at around $63.8 with a P/E ratio of 22.31 and P/S ratio of 4.45.

Added: Citigroup Inc. (C)

Richard Pzena added to his holdings in Citigroup Inc. by 14.78%. His purchase prices were between $16.96 and $25.94, with an estimated average price of $22. The impact to his portfolio due to this purchase was 0.57%. His holdings were 41,856,724 shares as of 06/30/2008.

Citigroup Inc. the leading global financial services company has some two hundred million customer accounts and does business in more than hundred countries providing consumers corporations governments and institutions with a broad range of financial products and services including consumer banking and credit corporate and investment banking securities brokerage and wealth management. Major brand names under Citigroup's trademark red umbrella include Citibank CitiFinancial Primerica Smith Barney and Banamex. Citigroup Inc. has a market cap of $105.59 billion; its shares were traded at around $19.39 with P/S ratio of 2.72. The dividend yield of Citigroup Inc. stocks is 6.78%.

Added: Northrop Grumman Corp. (NOC)

Richard Pzena added to his holdings in Northrop Grumman Corp. by 27.36%. His purchase prices were between $67.14 and $77.91, with an estimated average price of $73.2. The impact to his portfolio due to this purchase was 0.55%. His holdings were 6,030,882 shares as of 06/30/2008.

Northrop Grumman Corporation is a high technology company providing innovative solutions in systems integration defense electronics and information technology for its U.S. and international military government and commercial customers as a prime contractor principal subcontractor team member or preferred supplier. (Company Press Release) Northrop Grumman Corp. has a market cap of $23.53 billion; its shares were traded at around $69.71 with a P/E ratio of 14.19 and P/S ratio of 0.70. The dividend yield of Northrop Grumman Corp. stocks is 2.4%.

Added: Lehman Brothers Holdings Inc. (LEH)

Richard Pzena added to his holdings in Lehman Brothers Holdings Inc. by 55.07%. His purchase prices were between $22.07 and $46.45, with an estimated average price of $37.1. The impact to his portfolio due to this purchase was 0.52%. His holdings were 11,603,523 shares as of 06/30/2008.

Lehman Brothers is a global investment banks serving institutional corporate government and high-net-worth individual clients and customers. The company's worldwide headquarters in New York and regional headquarters in London and Tokyo are complemented by offices in additional locations in the United States Europe the Middle East Latin America and the Asia Pacific region. The company is engaged primarily in providing financial services. Other businesses in which the company is engaged represent less than 10 percent of consolidated assets revenues or pre-tax income. Lehman Brothers Holdings Inc. has a market cap of $12.93 billion; its shares were traded at around $18.62 with P/S ratio of 1.06. The dividend yield of Lehman Brothers Holdings Inc. stocks is 3.65%.

Added: Kohl's Corp. (KSS)

Richard Pzena added to his holdings in Kohl's Corp. by 534.23%. His purchase prices were between $41.38 and $50.65, with an estimated average price of $45.7. The impact to his portfolio due to this purchase was 0.46%. His holdings were 2,159,244 shares as of 06/30/2008.

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 $14.38 billion; its shares were traded at around $46.87 with a P/E ratio of 14.42 and P/S ratio of 0.82.

Added: Sempra Energy (SRE)

Richard Pzena added to his holdings in Sempra Energy by 19.5%. His purchase prices were between $53.97 and $58.83, with an estimated average price of $56.4. The impact to his portfolio due to this purchase was 0.44%. His holdings were 7,473,500 shares as of 06/30/2008.

Sempra Energy is an energy services holding company. Through its eight principal subsidiaries -- Southern California Gas Company San Diego Gas & Electric Sempra Energy Solutions Sempra Energy Trading Sempra Energy International Sempra Energy Resources Sempra Communications and Sempra Energy Financial -- Sempra Energy serves customers in the United States Europe Canada Mexico South America and Asia. (Company Press Release) Sempra Energy has a market cap of $14.31 billion; its shares were traded at around $57.17 with a P/E ratio of 13.54 and P/S ratio of 1.19. The dividend yield of Sempra Energy stocks is 2.54%.

Added: AmerisourceBergen Corp. (ABC)

Richard Pzena added to his holdings in AmerisourceBergen Corp. by 17.68%. His purchase prices were between $39.21 and $41.37, with an estimated average price of $40.7. The impact to his portfolio due to this purchase was 0.4%. His holdings were 10,592,191 shares as of 06/30/2008.

AmerisourceBergen Corporation is one of the world's largest pharmaceutical services companies serving the United States Canada and selected global markets. Servicing both pharmaceutical manufacturers and healthcare providers in the pharmaceutical supply channel the Company provides drug distribution and related services designed to reduce costs and improve patient outcomes. AmerisourceBergen's service solutions range from pharmacy automation and pharmaceutical packaging to pharmacy services for skilled nursing and assisted living facilities reimbursement and pharmaceutical consulting services and physician education. AmerisourceBergen Corp. has a market cap of $6.88 billion; its shares were traded at around $43.15 with a P/E ratio of 32.32 and P/S ratio of 0.10. The dividend yield of AmerisourceBergen Corp. stocks is 0.71%.

Added: Microsoft Corp. (MSFT)

Richard Pzena added to his holdings in Microsoft Corp. by 19.23%. His purchase prices were between $27.49 and $29.99, with an estimated average price of $28.8. The impact to his portfolio due to this purchase was 0.4%. His holdings were 14,134,548 shares as of 06/30/2008.

Microsoft develops manufactures licenses and supports a wide range of software products for a multitude of computing devices. Microsoft software includes scalable operating systems for servers personal computers and intelligent devices; server applications for client/server environments; knowledge worker productivity applications; and software development tools. The Company's online efforts include the MSN network of Internet products and services and alliances with companies involved with broadband access and various forms of digital interactivity. Microsoft Corp. has a market cap of $256.84 billion; its shares were traded at around $28.13 with a P/E ratio of 15.07 and P/S ratio of 4.14. The dividend yield of Microsoft Corp. stocks is 1.7%.

Added: Popular Inc. (BPOP)

Richard Pzena added to his holdings in Popular Inc. by 74.04%. His purchase prices were between $6.88 and $12.85, with an estimated average price of $10.6. The impact to his portfolio due to this purchase was 0.31%. His holdings were 17,645,323 shares as of 06/30/2008.

Popular Inc. is a diversified publicly owned bank holding company. The corporation's principal subsidiary Banco Popular de Puerto Rico has one of the largest retail franchise in Puerto Rico operating numerous branches and automated teller machines. The Bank also operates branches in the U.S. Virgin Islands the British Virgin Islands and New York. Popular Inc. has a market cap of $2.1 billion; its shares were traded at around $7.48 with P/S ratio of 1.35. The dividend yield of Popular Inc. stocks is 9.6%.

Added: Bank of America Corp. (BAC)

Richard Pzena added to his holdings in Bank of America Corp. by 10.68%. His purchase prices were between $24.59 and $39.03, with an estimated average price of $33.8. The impact to his portfolio due to this purchase was 0.24%. His holdings were 16,394,925 shares as of 06/30/2008.

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 $143.61 billion; its shares were traded at around $32.25 with a P/E ratio of 17.76 and P/S ratio of 2.89. The dividend yield of Bank of America Corp. stocks is 7.68%.

Added: Freddie Mac (FRE)

Richard Pzena added to his holdings in Freddie Mac by 6.95%. His purchase prices were between $17.85 and $27.62, with an estimated average price of $24.6. The impact to his portfolio due to this purchase was 0.23%. His holdings were 33,409,788 shares as of 06/30/2008.

Freddie Mac is a stockholder-owned corporation that supports homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities which it finances primarily by issuing mortgage passthrough securities and debt instruments in the capital markets. (Company Press Release) Freddie Mac has a market cap of $3.82 billion; its shares were traded at around $5.9 with P/S ratio of 1.57. The dividend yield of Freddie Mac stocks is 12.53%.

Added: Sara Lee Corp. (SLE)

Richard Pzena added to his holdings in Sara Lee Corp. by 27.31%. His purchase prices were between $12.18 and $14.55, with an estimated average price of $13.6. The impact to his portfolio due to this purchase was 0.2%. His holdings were 12,262,531 shares as of 06/30/2008.

Sara Lee Corporation is a global manufacturer and marketer of high-quality brand-name products for consumers throughout the world. The company's mission is to continue to build leadership brands in consumer packaged goods categories. The company has three global businesses: Food and Beverage Intimates and Underwear and Household Products through which it manufactures and markets products of exceptional quality and value under leading well-known brand names such as Sara Lee Earth Grains Jimmy Dean Douwe Egberts Chock full o' Nuts Hanes and Playtex. Sara Lee Corp. has a market cap of $10.52 billion; its shares were traded at around $14.9 with a P/E ratio of 15.17 and P/S ratio of 0.75. The dividend yield of Sara Lee Corp. stocks is 3.03%.

Added: L3 Communications Holdings Inc. (LLL)

Richard Pzena added to his holdings in L3 Communications Holdings Inc. by 20.46%. His purchase prices were between $90.99 and $114.15, with an estimated average price of $105.5. The impact to his portfolio due to this purchase was 0.16%. His holdings were 1,642,125 shares as of 06/30/2008.

L-3 Communications Holdings is a merchant supplier of sophisticated secure communication systems and specialized communication products. They produce secure high data rate communication systems microwave components avionics and ocean systems and telemetry instrumentation and space products. L-3's systems and specialized products are used to connect a variety of airborne space ground-and sea-based communication systems and are used in the transmission processing recording monitoring and dissemination functions of these communication systems. L3 Communications Holdings Inc. has a market cap of $12.46 billion; its shares were traded at around $102.12 with a P/E ratio of 14.63 and P/S ratio of 0.83. The dividend yield of L3 Communications Holdings Inc. stocks is 1.22%.

Added: Washington Mutual Inc. (WM)

Richard Pzena added to his holdings in Washington Mutual Inc. by 55.42%. His purchase prices were between $4.79 and $12.65, with an estimated average price of $9.3. The impact to his portfolio due to this purchase was 0.15%. His holdings were 13,243,215 shares as of 06/30/2008.

Washington Mutual Inc. is engaged in consumer banking mortgage banking commercial banking financial services and consumer finance. The companyconducts its business operations through its subsidiaries. The company's principal banking subsidiaries are Washington Mutual Bank FA Washington Mutual Bank and Washington Mutual Bank fsb. Its other principal subsidiaries are Washington Mutual Finance Corporation Long Beach Mortgage Company and WM Financial Services Inc. Washington Mutual Inc. has a market cap of $7.78 billion; its shares were traded at around $4.58 with P/S ratio of 5.70. The dividend yield of Washington Mutual Inc. stocks is 0.75%.

Added: Magna International Inc. (MGA)

Richard Pzena added to his holdings in Magna International Inc. by 7.59%. His purchase prices were between $62.17 and $77.95, with an estimated average price of $71.8. The impact to his portfolio due to this purchase was 0.14%. His holdings were 5,204,660 shares as of 06/30/2008.

Magna International Inc. is an independent supplier of original equipment components assemblies modules and systems and related tooling for cars and light trucks. The Company designs develops and manufactures a diversified range of these products primarily for North American and European original equipment manufacturers. Magna International Inc. has a market cap of $6.89 billion; its shares were traded at around $60.14 with a P/E ratio of 10.57 and P/S ratio of 0.25. The dividend yield of Magna International Inc. stocks is 2.49%.

Added: HarteHanks Inc. (HHS)

Richard Pzena added to his holdings in HarteHanks Inc. by 283.52%. His purchase prices were between $11.3 and $13.86, with an estimated average price of $13.2. The impact to his portfolio due to this purchase was 0.1%. His holdings were 1,968,800 shares as of 06/30/2008.

Harte-Hanks is a worldwide direct and targeted marketing company that provides marketing services and shopper advertising opportunities to local regional national and international consumer and business-to-business marketers. Harte-Hanks Direct Marketing improves return on its clients' marketing investment by increasing their prospect and customer value a process of `customer optimization` organized around five strategic considerations: Information data collection/management -- Opportunity data access/utilization -- Insight data analysis/interpretation -- Engagement knowledge application -- Interaction program execution. Expert in integrating this process Harte-Hanks Direct Marketing is highly skilled at tailoring solutions for each of the vertical markets it serves. HarteHanks Inc. has a market cap of $764.33 million; its shares were traded at around $12.1 with a P/E ratio of 10.18 and P/S ratio of 0.67. The dividend yield of HarteHanks Inc. stocks is 2.4%.

Added: Whirlpool Corp. (WHR)

Richard Pzena added to his holdings in Whirlpool Corp. by 3.48%. His purchase prices were between $63.77 and $90.67, with an estimated average price of $74.2. The impact to his portfolio due to this purchase was 0.1%. His holdings were 7,594,168 shares as of 06/30/2008.

Whirlpool Corp. manufactures and markets a full line of major appliances and related products primarily for home use. The company's principal products are home laundry appliances home refrigerators and freezers home cooking appliances home dishwashers room air-conditioning equipment and mixers and other small household appliances. The company also produces hermetic compressors and plastic components primarilyfor the home appliance and electronics industries. Whirlpool Corp. has a market cap of $5.88 billion; its shares were traded at around $79 with a P/E ratio of 10.79 and P/S ratio of 0.28. The dividend yield of Whirlpool Corp. stocks is 2.26%.

Added: Carter's Inc. (CRI)

Richard Pzena added to his holdings in Carter's Inc. by 69.11%. His purchase prices were between $14.28 and $16.8, with an estimated average price of $15. The impact to his portfolio due to this purchase was 0.07%. His holdings were 2,071,386 shares as of 06/30/2008.

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 $1.07 billion; its shares were traded at around $18.92 with a P/E ratio of 14.19 and P/S ratio of 0.70.

Added: Lowe's Companies Inc. (LOW)

Richard Pzena added to his holdings in Lowe's Companies Inc. by 96.23%. His purchase prices were between $20.77 and $26.01, with an estimated average price of $24. The impact to his portfolio due to this purchase was 0.05%. His holdings were 825,425 shares as of 06/30/2008.

Lowe's Companies Inc. is a retailer of home improvement products in the world with specific emphasis on retail do-it-yourself and commercial business customers. Lowe's specializes in offering products and services for home improvement home decor home maintenance home repair and remodeling and maintenance of commercial buildings. Lowe's principal customer groups are do-it-yourself retail customers and commercial business customers. Lowe's Companies Inc. has a market cap of $33.34 billion; its shares were traded at around $22.78 with a P/E ratio of 12.70 and P/S ratio of 0.64. The dividend yield of Lowe's Companies Inc. stocks is 1.67%.

Added: Argonaut Group Inc. (AGII)

Richard Pzena added to his holdings in Argonaut Group Inc. by 27.15%. The impact to his portfolio due to this purchase was 0.04%. His holdings were 890,438 shares as of 06/30/2008.

PXRE Group Ltd. provides reinsurance products and services to aworldwide marketplace. They primarily emphasize commercial and personalproperty and casualty reinsurance risks and offer both broker-based and direct-writing distribution capabilities. PXRE also provides marine andaerospace reinsurance products and services. Argonaut Group Inc. has a market cap of $1.12 billion; its shares were traded at around $36.41 with a P/E ratio of 6.54 and P/S ratio of 1.08.

Added: Moody's Corp. (MCO)

Richard Pzena added to his holdings in Moody's Corp. by 563.06%. His purchase prices were between $34.16 and $45, with an estimated average price of $38.1. The impact to his portfolio due to this purchase was 0.03%. His holdings were 191,625 shares as of 06/30/2008.

Moody's Corporation is the parent company of Moody's Investors Service a leading provider of credit ratings research and analysis covering debt instruments and securities in the global capital markets Moody's KMV a leading provider of credit risk processing and credit risk management products for banks and investors in credit-sensitive assets serving the world's largest financial institutions Moody's Economy.com a provider of economic research and data services and Moody's Wall Street Analytics a provider of software tools and analysis for the structured finance industry. Moody's Corp. has a market cap of $9.59 billion; its shares were traded at around $39.36 with a P/E ratio of 19.43 and P/S ratio of 4.74. The dividend yield of Moody's Corp. stocks is 1.12%.

Added: Dress Barn Inc. (DBRN)

Richard Pzena added to his holdings in Dress Barn Inc. by 72.02%. His purchase prices were between $12.75 and $15.47, with an estimated average price of $14. The impact to his portfolio due to this purchase was 0.02%. His holdings were 551,152 shares as of 06/30/2008.

Dress Barn Inc. operates a national chain of specialty stores offering career and casual fashion. The company has evolved from an off-price chain to a value-priced specialty retailer. The company distinguishes itself from (i) off-price retailers by its carefully edited selection of in-season first-quality merchandise service-oriented salespeople and its comfortable shopping environment (ii) department stores by its value pricing and convenient locations and (iii) other specialty apparel retailers by its continuous focus on Dress Barn's target customer. Dress Barn Inc. has a market cap of $1000 million; its shares were traded at around $16.6 with a P/E ratio of 12.77 and P/S ratio of 0.64.

Added: Viacom Inc. (VIA-B)

Richard Pzena added to his holdings in Viacom Inc. by 58.11%. His purchase prices were between $30.56 and $40.34, with an estimated average price of $37. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 43,343 shares as of 06/30/2008.

Viacom is a leading global entertainment content company whose family of prominent and respected brands includes the multiplatform properties of MTV Networks BET Networks Paramount Pictures Paramount Home Entertainment and DreamWorks. MTV Networks a unit of Viacom is one of the world's leading creators of programming and content across all media platforms. MTV Networks connects with its audiences through its robust consumer products businesses and its more than three hundred interactive properties worldwide including online broadband wireless and interactive television services and also has licensing agreements joint ventures and syndication deals whereby all of its programming services can be seen worldwide. Viacom Inc. has a market cap of $18.35 billion; its shares were traded at around $29.56 with a P/E ratio of 10.20 and P/S ratio of 1.22.

Added: Pediatrix Medical Group Inc. (PDX)

Richard Pzena added to his holdings in Pediatrix Medical Group Inc. by 81.71%. His purchase prices were between $50.86 and $68.64, with an estimated average price of $59. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 11,766 shares as of 06/30/2008.

PEDIATRIX MEDICAL GROUP INC. is a provider of physician management services to hospital-based neonatal intensive care units (NICUs) based upon its own market research. They also provide physician management services to hospitals based pediatric intensive care units (PICUs) and pediatrics departments in hospitals. Pediatrix Medical Group Inc. has a market cap of $2.69 billion; its shares were traded at around $56.43 with a P/E ratio of 15.94 and P/S ratio of 2.69.

New Purchase: National City Corp. (NCC)

Richard Pzena initiated holdings in National City Corp.. His purchase prices were between $4.78 and $8.96, with an estimated average price of $6.3. The impact to his portfolio due to this purchase was 0.8%. His holdings were 26,453,999 shares as of 06/30/2008.

National City Corporation is a financial holding company. The company offers a full range of financial services including investment banking brokerage mutual fund insurance and traditional banking services to individuals and businesses. National City has offices in Ohio Pennsylvania Michigan Indiana Kentucky and Illinois. (Company Press Release) National City Corp. has a market cap of $3.89 billion; its shares were traded at around $5.12 with P/S ratio of 1.26. The dividend yield of National City Corp. stocks is 0.79%.

New Purchase: Motorola Inc. (MOT)

Richard Pzena initiated holdings in Motorola Inc.. His purchase prices were between $7.35 and $10.01, with an estimated average price of $9.1. The impact to his portfolio due to this purchase was 0.58%. His holdings were 12,430,475 shares as of 06/30/2008.

Motorola Inc. is a global leader in providing integrated communications solutions and embedded electronic solutions. They manufacture telecommunication equipment and software for consumers network operators and commercial government and industrial customers. They also produce embedded semiconductor solutions embedded electronic systems digital and analog systems and set-top terminals for broadband cable television operators. Motorola Inc. has a market cap of $21.82 billion; its shares were traded at around $9.63 with P/S ratio of 0.61. The dividend yield of Motorola Inc. stocks is 2.27%.

New Purchase: Mattel Inc. (MAT)

Richard Pzena initiated holdings in Mattel Inc.. His purchase prices were between $17.72 and $21.78, with an estimated average price of $19.9. The impact to his portfolio due to this purchase was 0.3%. His holdings were 2,721,750 shares as of 06/30/2008.

Mattel Inc. designs manufactures and markets a broad variety of family products on a worldwide basis through both sales to retailers anddirect to consumers. Mattel's business is dependent in great part on itsability each year to redesign restyle and extend existing core products and product lines to design and develop innovative new products and product lines and successfully market those products and product lines. Mattel Inc. has a market cap of $7.75 billion; its shares were traded at around $21.5 with a P/E ratio of 15.07 and P/S ratio of 1.23. The dividend yield of Mattel Inc. stocks is 3.66%.

New Purchase: PharmaNet Development Group Inc. (PDGI)

Richard Pzena initiated holdings in PharmaNet Development Group Inc.. His purchase prices were between $14.1 and $24.59, with an estimated average price of $18.6. The impact to his portfolio due to this purchase was 0.06%. His holdings were 552,438 shares as of 06/30/2008.

PharmaNet Development Group Inc. is an international drug development services company offering a comprehensive range of clinical development clinical and bioanalytical laboratory and consulting services to the branded pharmaceutical biotechnology generic drug and medical device industries. PharmaNet Development Group Inc. has a market cap of $506.72 million; its shares were traded at around $26.14 with a P/E ratio of 174.27 and P/S ratio of 1.03.

New Purchase: Hilb Rogal & Hobbs Company (HRH)

Richard Pzena initiated holdings in Hilb Rogal & Hobbs Company. His purchase prices were between $28.07 and $44.39, with an estimated average price of $33.5. The impact to his portfolio due to this purchase was 0.04%. His holdings were 153,989 shares as of 06/30/2008.

Hilb Rogal & Hobbs Company is the nation's seventh largest insurance and risk management intermediary. With offices located throughout the United States HRH assists clients in managing their risks in areas such as property and casualty employee benefits and many other areas of specialized exposure. Hilb Rogal & Hobbs Company has a market cap of $1.59 billion; its shares were traded at around $43.54 with a P/E ratio of 33.91 and P/S ratio of 1.94. The dividend yield of Hilb Rogal & Hobbs Company stocks is 1.3%.

New Purchase: The Timberland Company (TBL)

Richard Pzena initiated holdings in The Timberland Company. His purchase prices were between $13.63 and $18.41, with an estimated average price of $16.5. The impact to his portfolio due to this purchase was 0.03%. His holdings were 252,875 shares as of 06/30/2008.

The Timberland Company is a global leader in the design engineering and marketing of premium-quality footwear apparel and accessories for consumers who value the outdoors and their time in it. Timberland products are sold worldwide through leading department and specialty stores as well as Timberland retail stores. Timberland's dedication to making quality products is matched by the company's commitment to `doing well and doing good` - forging powerful partnerships among employees consumers and service partners to transform the communities in which they live and work.The Company designs develops engineers markets and distributes under the Timberland brand premium-quality footwear products for men women and children and apparel and accessories products for men and women. The Company's products fall into two broad types - footwear products and apparel and accessories products. The Timberland Company has a market cap of $967.06 million; its shares were traded at around $16.41 with a P/E ratio of 20.28 and P/S ratio of 0.63.

New Purchase: Harman International Industries Inc. (HAR)

Richard Pzena initiated holdings in Harman International Industries Inc.. His purchase prices were between $38.37 and $45.14, with an estimated average price of $42.5. The impact to his portfolio due to this purchase was 0.02%. His holdings were 92,825 shares as of 06/30/2008.

Harman International Industries Incorporated is a leading manufacturer of high-quality high-fidelity audio products and electronic systems for the automotive consumer and professional markets. Harman International is a worldwide leader in the manufacture of high-quality high-fidelity audio and electronic products for automotive consumer and professional use. The company's legendary brands have taken a leading role in the creation and innovation of progressive technologies from the world's first car radio to today's most revolutionary infotainment systems. Our commitment to quality and innovation can be found everywhere from theaters and stadiums to homes and automobiles and continues to redefine the boundaries of technology and entertainment. Through internal development and a series of carefully selected acquisitions they have built up a broad range of renowned brands and products in our principal markets and a substantial and experienced digital engineering capabili Harman International Industries Inc. has a market cap of $2.41 billion; its shares were traded at around $41.49 with a P/E ratio of 14.69 and P/S ratio of 0.60. The dividend yield of Harman International Industries Inc. stocks is 0.13%.

New Purchase: Medtronic Inc. (MDT)

Richard Pzena initiated holdings in Medtronic Inc.. His purchase prices were between $46.81 and $51.35, with an estimated average price of $49.6. The impact to his portfolio due to this purchase was 0.01%. His holdings were 15,850 shares as of 06/30/2008.

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 $60.47 billion; its shares were traded at around $53.74 with a P/E ratio of 27.52 and P/S ratio of 4.37. The dividend yield of Medtronic Inc. stocks is 1.44%.

New Purchase: Arthur J. Gallagher & Co. (AJG)

Richard Pzena initiated holdings in Arthur J. Gallagher & Co.. His purchase prices were between $24.04 and $25.88, with an estimated average price of $24.9. The impact to his portfolio due to this purchase was 0.01%. His holdings were 73,250 shares as of 06/30/2008.

Arthur J. Gallagher & Co. and its subsidiaries are engaged in providing insurance brokerage risk management employee benefit and other related services to clients in the United States and abroad. The company's principal activity is the negotiation and placement of insurance for its clients. The company also specializes in furnishing risk management services. Arthur J. Gallagher & Co. has a market cap of $2.41 billion; its shares were traded at around $25.86 with a P/E ratio of 22.10 and P/S ratio of 1.45. The dividend yield of Arthur J. Gallagher & Co. stocks is 5.11%.

New Purchase: CSG Systems International Inc. (CSGS)

Richard Pzena initiated holdings in CSG Systems International Inc.. His purchase prices were between $10.98 and $13.28, with an estimated average price of $12.2. The impact to his portfolio due to this purchase was 0.01%. His holdings were 98,015 shares as of 06/30/2008.

CSG Systems International Inc. is a leading provider of outsourced billing customer care and print and mail solutions and services supporting the North American cable and direct broadcast satellite markets. CSG's solutions support some of the world's largest and most innovative providers of bundled multi-channel video Internet voice and IP-based services. CSG's unique combination of solutions services and expertise ensure that cable and satellite operators can continue to rapidly launch new service offerings improve operational efficiencies and deliver a high-quality customer experience in a competitive and ever-changing marketplace. CSG Systems International Inc. has a market cap of $673.24 million; its shares were traded at around $19.27 with a P/E ratio of 11.74 and P/S ratio of 1.44.

New Purchase: Mercer Insurance Group Inc. (MIGP)

Richard Pzena initiated holdings in Mercer Insurance Group Inc.. His purchase prices were between $16.28 and $17.77, with an estimated average price of $17.1. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 13,425 shares as of 06/30/2008.

Mercer Insurance Group builds the service around clients. They have established their company and the good reputation through continually reaching for innovative new levels of service previously unprecedented in the industry. One key factor is that they very quickly adapt and customize their services to each client. Mercer Insurance Group Inc. has a market cap of $116.38 million; its shares were traded at around $17.2 with a P/E ratio of 9.34 and P/S ratio of 0.69. The dividend yield of Mercer Insurance Group Inc. stocks is 1.7%.

New Purchase: Covidien Ltd. (COV)

Richard Pzena initiated holdings in Covidien Ltd.. His purchase prices were between $44.86 and $49.93, with an estimated average price of $47.6. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 8,260 shares as of 06/30/2008.

Covidien is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. Covidien manufactures distributes and services a diverse range of industry-leading product lines including Surgical Devices Energy-Based Devices Respiratory and Monitoring Solutions Patient Care and Safety Products Imaging Solutions Pharmaceutical Products Medical Supplies and Retail Products. Covidien Ltd. has a market cap of $26.83 billion; its shares were traded at around $53.76 with a P/E ratio of 27.39 and P/S ratio of 2.68. The dividend yield of Covidien Ltd. stocks is 1.29%.

New Purchase: Milacron Inc. (MZIA.PK)

Richard Pzena initiated holdings in Milacron Inc.. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 172,618 shares as of 06/30/2008.

Milacron Inc. is a major global supplier of supplies and services to a broad spectrum of plastics processing and metalworking industries. In the plastics technologies business the company manufactures and sells machines systems mold bases tooling parts and services for the threeprimary methods of processing plastic: injection molding blow molding and extrusion. All of the machines are computer controlled and many aresold with proprietary advanced application software. Milacron Inc. has a market cap of $6.42 million; its shares were traded at around $1.17 with P/S ratio of 0.01.

New Purchase: Cardinal Health Inc. (CAH)

Richard Pzena initiated holdings in Cardinal Health Inc.. His purchase prices were between $50.63 and $56.38, with an estimated average price of $53.8. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 4,506 shares as of 06/30/2008.

Cardinal Health Inc. is one of the leading providers of products and services to healthcare providers and manufacturers to help them improve the efficiency and quality of healthcare. These services and products include Pharmaceutical Distribution and Provider Services Medical-Surgical Products and Services Pharmaceutical Technologies and Services and Automation and Information Services. Cardinal Health Inc. has a market cap of $19.2 billion; its shares were traded at around $53.79 with a P/E ratio of 10.61 and P/S ratio of 0.21. The dividend yield of Cardinal Health Inc. stocks is 1.05%.

 

Reduced: ROYAL BANK ADS (RBS)

Richard Pzena reduced to his holdings in ROYAL BANK ADS by 98.95%. His sale prices were between $4.35 and $7.76, with an estimated average price of $6.1. The impact to his portfolio due to this sale was less than 0.01%. Richard Pzena still held 23,600 shares as of 06/30/2008.

The Royal Bank of Scotland Group plc is the holding company of one of the world?s largest banking and financial services groups with a market capitalisation of ?62.8 billion at the end of 2006. Headquartered in Edinburgh the Group operates in the UK US and internationally through its two principal subsidiaries the Royal Bank and NatWest. Both the Royal Bank and NatWest are major UK clearing banks whose origins go back over 275 years. In the US the Group?s subsidiary Citizens is ranked the eighth largest commercial banking organisation by deposits. The Group has a large and diversified customer base and provides a wide range of products and services to personal commercial and large corporate and institutional customers. ROYAL BANK ADS has a market cap of $ million; its shares were traded at around $4.77 . The dividend yield of ROYAL BANK ADS stocks is 25.47%.

Reduced: IDACORP Inc. (IDA)

Richard Pzena reduced to his holdings in IDACORP Inc. by 20.62%. His sale prices were between $28.9 and $32.68, with an estimated average price of $31. The impact to his portfolio due to this sale was less than 0.01%. Richard Pzena still held 120,883 shares as of 06/30/2008.

Idacorp Inc. is an electric public utility company. The company is engaged in the generation purchase transmission distribution and sale of electric energy primarily in the areas including southern Idaho eastern Oregon and northern Nevada. The company relies heavily on hydroelectric power for its generating needs and is one of the nation's few investor-owned utilities with a predominantly hydro base. The company's principal commercial and industrial customers include lodges condominiums and ski lifts and related facilities. IDACORP Inc. has a market cap of $1.37 billion; its shares were traded at around $30.2 with a P/E ratio of 16.96 and P/S ratio of 1.51. The dividend yield of IDACORP Inc. stocks is 4.09%.

Reduced: Discover Financial Services (DFS)

Richard Pzena reduced to his holdings in Discover Financial Services by 99.55%. His sale prices were between $13.57 and $18.76, with an estimated average price of $16.8. The impact to his portfolio due to this sale was less than 0.01%. Richard Pzena still held 11,238 shares as of 06/30/2008.

Discover Financial Services operates the Discover Card with more than fifty million cardmembers the Discover Network with millions of merchant and cash access locations and the Goldfish credit card business in the United Kingdom. Discover Financial Services also operates the pulse ATM/debit network which serves more than four thousand four hundred financial institutions and includes nearly two lakhs sixty thousand ATMs as well as POS terminals nationwide. Discover Financial Services has a market cap of $7.18 billion; its shares were traded at around $14.97 with a P/E ratio of 15.64 and P/S ratio of 1.70. The dividend yield of Discover Financial Services stocks is 1.6%.

Reduced: MetLife Inc. (MET)

Richard Pzena reduced to his holdings in MetLife Inc. by 99.57%. His sale prices were between $53.8 and $62.17, with an estimated average price of $59.7. The impact to his portfolio due to this sale was less than 0.01%. Richard Pzena still held 9,100 shares as of 06/30/2008.

Metlife Inc. is a leading provider of insurance and financial services to a broad spectrum of individual and institutional customers. The company currently provides individual insurance annuities and investment products. The company also provides group insurance and retirement and savings products and services to corporations and other institutions. The company believes that their unparalleled franchises and brand names uniquely position them to be the preeminent provider of insurance and financial services in the U.S. MetLife Inc. has a market cap of $37.82 billion; its shares were traded at around $53.28 with a P/E ratio of 11.01 and P/S ratio of 0.68. The dividend yield of MetLife Inc. stocks is 1.46%.

Reduced: Boston Scientific Corp. (BSX)

Richard Pzena reduced to his holdings in Boston Scientific Corp. by 44.23%. His sale prices were between $12.23 and $14.11, with an estimated average price of $13.1. The impact to his portfolio due to this sale was less than 0.01%. Richard Pzena still held 84,875 shares as of 06/30/2008.

Boston Scientific Corporation is a worldwide developer manufacturer and marketer of minimally invasive medical devices. The company's products are used in a broad range of interventional medical specialties including cardiology electrophysiology gastroenterology neuro-endovascular therapy pulmonary medicine radiology urology and vascular surgery. Boston Scientific Corp. has a market cap of $19.97 billion; its shares were traded at around $13.27 with P/S ratio of 2.33.

Reduced: Viad Corp (VVI)

Richard Pzena reduced to his holdings in Viad Corp by 22.35%. His sale prices were between $26.43 and $37.58, with an estimated average price of $32.6. The impact to his portfolio due to this sale was -0.01%. Richard Pzena still held 395,282 shares as of 06/30/2008.

Viad Corp. is comprised of operating companies and a division which constitute a diversified services business. Most of Viad's services are provided to businesses for use by their customers. Accordingly the corporation markets its services through retail and financial locations primarily in the U.S. to numerous trade show organizers and exhibitors and others. Viad Corp has a market cap of $646.82 million; its shares were traded at around $31.24 with a P/E ratio of 15.45 and P/S ratio of 0.59. The dividend yield of Viad Corp stocks is 0.52%.

Reduced: Bowne & Co. Inc. (BNE)

Richard Pzena reduced to his holdings in Bowne & Co. Inc. by 84.4%. His sale prices were between $13.15 and $16.8, with an estimated average price of $15.5. The impact to his portfolio due to this sale was -0.01%. Richard Pzena still held 74,900 shares as of 06/30/2008.

Bowne & Co. offers its customers an integrated way to design and manage their information flows to take advantage of the latest technologies for creating storing moving presenting and utilizing information in any combination of paper and electronic forms. It manages documents on the clients' site or at its own facilities. It provides business services andsolutions for transactional financial corporate reporting and mutual fund printing as well as providing digital database management and printing integrated Internet applications globalization among others. Bowne & Co. Inc. has a market cap of $336.98 million; its shares were traded at around $12.53 with a P/E ratio of 20.47 and P/S ratio of 0.39. The dividend yield of Bowne & Co. Inc. stocks is 1.78%.

Reduced: American National Insurance Company (ANAT)

Richard Pzena reduced to his holdings in American National Insurance Company by 23.02%. His sale prices were between $98.6 and $116.59, with an estimated average price of $109.7. The impact to his portfolio due to this sale was -0.01%. Richard Pzena still held 97,363 shares as of 06/30/2008.

American Nat'l Insurance's family of companies offers a broad line of products and services which include individual and group life and health insurance and annuities; personal lines property and casualty insurance; credit insurance and mutual funds. The life insurance business conducted by the American National family of companies is conducted in all states as well as in Mexico Puerto Rico Guam and American Samoa. American National is also authorized to sell its products to American military personnel in Western Europe. (Company Press Release) American National Insurance Company has a market cap of $2.58 billion; its shares were traded at around $96.45 with a P/E ratio of 10.67 and P/S ratio of 0.82. The dividend yield of American National Insurance Company stocks is 3.3%.

Reduced: HSBC Holdings plc (HBC)

Richard Pzena reduced to his holdings in HSBC Holdings plc by 35.65%. His sale prices were between $76.55 and $86.75, with an estimated average price of $83. The impact to his portfolio due to this sale was -0.02%. Richard Pzena still held 113,944 shares as of 06/30/2008.

HSBC HOLDINGS is one of the largest banking and financial services organisations in the world. Through an international network linked by advanced technology including a rapidly growing e-commerce capability HSBC provides a comprehensive range of financial services: personal financial services; commercial banking; corporate investment banking and markets; private banking; and other activities. HSBC Holdings plc has a market cap of $ million; its shares were traded at around $82.5 . The dividend yield of HSBC Holdings plc stocks is 5.48%.

Reduced: UnionBanCal Corp. (UB)

Richard Pzena reduced to his holdings in UnionBanCal Corp. by 75.96%. His sale prices were between $41.84 and $53.5, with an estimated average price of $48.9. The impact to his portfolio due to this sale was -0.03%. Richard Pzena still held 150,827 shares as of 06/30/2008.

UnionBanCal Corporation is a commercial bank holding company. The company provides a wide range of financial services to consumers smallbusinesses middle-market companies and major corporations. The Group operates through 4 business units: The Community Banking and Investment Services Group The Commercial Financial Services Group The International Banking Group and The Global Markets Group. UnionBanCal Corp. has a market cap of $7.9 billion; its shares were traded at around $57.25 with a P/E ratio of 14.57 and P/S ratio of 3.06. The dividend yield of UnionBanCal Corp. stocks is 3.76%.

Reduced: Hasbro Inc. (HAS)

Richard Pzena reduced to his holdings in Hasbro Inc. by 84.81%. His sale prices were between $29.37 and $38.8, with an estimated average price of $34.7. The impact to his portfolio due to this sale was -0.03%. Richard Pzena still held 181,267 shares as of 06/30/2008.

Hasbro Inc. is a worldwide leader in children's and family leisure time andentertainment products and services including the design manufacture andmarketing of games and toys ranging from traditional to high-tech. Bothinternationally and in the U.S. its PLAYSKOOL KENNER TONKA ODDZON SUPER SOAKER MILTON BRADLEY PARKER BROTHERS TIGER HASBRO INTERACTIVEMICROPROSE GALOOB and WIZARDS OF THE COAST brands and products provide what the company believes to be the highest quality and most recognizable play experiences in the world. (PRESS RELEASE) Hasbro Inc. has a market cap of $5.76 billion; its shares were traded at around $40.8 with a P/E ratio of 17.52 and P/S ratio of 1.36. The dividend yield of Hasbro Inc. stocks is 2.06%.

Reduced: Blount International Inc. (BLT)

Richard Pzena reduced to his holdings in Blount International Inc. by 29.53%. His sale prices were between $11.82 and $14.01, with an estimated average price of $13.2. The impact to his portfolio due to this sale was -0.04%. Richard Pzena still held 1,697,289 shares as of 06/30/2008.

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 $563.01 million; its shares were traded at around $11.88 with a P/E ratio of 13.03 and P/S ratio of 1.00.

Reduced: Oracle Corp. (ORCL)

Richard Pzena reduced to his holdings in Oracle Corp. by 95.25%. His sale prices were between $19.84 and $22.84, with an estimated average price of $21.6. The impact to his portfolio due to this sale was -0.05%. Richard Pzena still held 391,079 shares as of 06/30/2008.

Oracle Corporation is one of the world's leading suppliers of software for information management. The company develops manufactures markets and distributes computer software that helps corporations manage and grow their businesses. The company's software products can be categorized intotwo broad areas: Systems software and Internet business applications software. Oracle Corp. has a market cap of $121.27 billion; its shares were traded at around $23.52 with a P/E ratio of 22.27 and P/S ratio of 5.23.

Reduced: IPC Holdings Ltd. (IPCR)

Richard Pzena reduced to his holdings in IPC Holdings Ltd. by 21.45%. His sale prices were between $26.61 and $30.14, with an estimated average price of $28.6. The impact to his portfolio due to this sale was -0.05%. Richard Pzena still held 1,254,899 shares as of 06/30/2008.

IPC HLDGS LTD through its wholly-owned subsidiary IPCRe Limited provides property catastrophe reinsurance and to a limited extent marine aviation property-per-risk excess and other short-tail property reinsurance on a worldwide basis. IPC has a strong capital position and well established market presence within the property catastrophe reinsurance market. IPC Holdings Ltd. has a market cap of $1.61 billion; its shares were traded at around $32.07 with a P/E ratio of 5.09 and P/S ratio of 3.42. The dividend yield of IPC Holdings Ltd. stocks is 2.9%.

Reduced: Computer Sciences Corp. (CSC)

Richard Pzena reduced to his holdings in Computer Sciences Corp. by 44.32%. His sale prices were between $41.27 and $49.15, with an estimated average price of $45.8. The impact to his portfolio due to this sale was -0.14%. Richard Pzena still held 1,042,799 shares as of 06/30/2008.

Computer Sciences Corp. offers a broad array of professional services to clients in the global commercial and government markets and specializes in the application of advanced and complex I/T to achieve its customers' strategic objectives. Its service offerings include outsourcing systems integration and I/T and management consulting and other professional services including e-business solutions. Computer Sciences Corp. has a market cap of $7.03 billion; its shares were traded at around $46.52 with a P/E ratio of 13.70 and P/S ratio of 0.40.

Reduced: XL Capital Ltd (XL)

Richard Pzena reduced to his holdings in XL Capital Ltd by 60.31%. His sale prices were between $23.77 and $37.35, with an estimated average price of $31.6. The impact to his portfolio due to this sale was -0.36%. Richard Pzena still held 4,547,869 shares as of 06/30/2008.

LX Capital Limited through its subsidiaries provides excess liability insurance coverage to industrial commercial and other enterprises directors and officers of such enterprises professional firms high excess property coverage and the assumption of reinsurance contracts on a worldwide basis. The company's strategy is to be the premier provider of strategic financial risk solutions to specific global markets by applying intellectual and financial capital to assure its customers' economic vitality and enhance their competitive positions. XL Capital Ltd has a market cap of $3.56 billion; its shares were traded at around $19.87 with P/S ratio of 0.40. The dividend yield of XL Capital Ltd stocks is 8.23%.

Reduced: Affiliated Computer Services Inc. (ACS)

Richard Pzena reduced to his holdings in Affiliated Computer Services Inc. by 32.92%. His sale prices were between $50.71 and $56.46, with an estimated average price of $53.3. The impact to his portfolio due to this sale was -0.6%. Richard Pzena still held 5,412,554 shares as of 06/30/2008.

Affiliated Computer Services Inc. provides a full range of information technology services to clients which have time-critical transaction-intensive information processing needs. Services include technology outsourcing business process outsourcing and systems integration services. ACS a Fortune 1000 company with more than 40000 people supporting operations in 54 countries provides business process and information technology outsourcing solutions to world-class commercial and government clients. Affiliated Computer Services Inc. has a market cap of $4.92 billion; its shares were traded at around $51.01 with a P/E ratio of 19.01 and P/S ratio of 0.78.

Reduced: Pfizer Inc (PFE)

Richard Pzena reduced to his holdings in Pfizer Inc by 28.8%. His sale prices were between $17 and $20.67, with an estimated average price of $19. The impact to his portfolio due to this sale was -0.65%. Richard Pzena still held 20,274,284 shares as of 06/30/2008.

Pfizer Inc is a research-based global pharmaceutical company that discovers and develops innovative value-added products that improve the quality of life of people around the world and help them enjoy longer healthier and more productive lives. Pfizer has three business segments: health care animal health and consumer health care. Its products are available in numerous countries. (Company Press Release) Pfizer Inc has a market cap of $134.22 billion; its shares were traded at around $19.84 with a P/E ratio of 14.92 and P/S ratio of 2.66. The dividend yield of Pfizer Inc stocks is 6.88%.

Reduced: WalMart Stores Inc. (WMT)

Richard Pzena reduced to his holdings in WalMart Stores Inc. by 50.57%. His sale prices were between $54.17 and $59.18, with an estimated average price of $56.7. The impact to his portfolio due to this sale was -0.83%. Richard Pzena still held 4,646,250 shares as of 06/30/2008.

Wal-Mart Stores Inc. is the world's largest retailer. They are engaged in the operation of mass merchandising stores which serve their customers primarily through the operation of three segments which are the Wal-Mart Stores segment the SAM'S Club segment and the International segment. WalMart Stores Inc. has a market cap of $228.18 billion; its shares were traded at around $57.86 with a P/E ratio of 18.05 and P/S ratio of 0.58. The dividend yield of WalMart Stores Inc. stocks is 1.65%.

Sold Out: Electronic Data Systems Corp. (EDS)

Richard Pzena sold out his holdings in Electronic Data Systems Corp.. His sale prices were between $16.95 and $24.61, with an estimated average price of $21.6. The impact to his portfolio due to this sale was less than 0.01%.

Electronic Data Systems Corp. is one of the leaders in the global information technology services industry. The company provides strategy implementation and hosting services and solutions for clients managing the complexities of the digital economy bringing together the world's best technologies to address our clients' critical business imperatives. The company's four lines of business are Information Solutions Business Process Management E.solutions and A.T. Kearney. Electronic Data Systems Corp. has a market cap of $12.57 billion; its shares were traded at around $24.87 with a P/E ratio of 20.27 and P/S ratio of 0.56. The dividend yield of Electronic Data Systems Corp. stocks is 0.81%.

Sold Out: United America Indemnity Ltd. (INDM)

Richard Pzena sold out his holdings in United America Indemnity Ltd.. His sale prices were between $13.99 and $19.46, with an estimated average price of $15.7. The impact to his portfolio due to this sale was less than 0.01%.

United America Indemnity through its wholly-owned operating subsidiaries which include United National Group Penn-America Group Inc. and Penn Independent Corporation is one of the leading specialty property and casualty insurers in the industry as well as a significant originator of and placement agent for specialty property and casualty insurance coverage. United America Indemnity Ltd. has a market cap of $468.15 million; its shares were traded at around $13.86 with a P/E ratio of 10.17 and P/S ratio of 0.84.

Sold Out: Circuit City Stores Inc. (CC)

Richard Pzena sold out his holdings in Circuit City Stores Inc.. His sale prices were between $3.26 and $5.07, with an estimated average price of $4.6. The impact to his portfolio due to this sale was less than 0.01%.

Circuit City Stores is a leading specialty retailer of consumer electronics. Circuit City operates Superstores and mall-based stores in many U.S. markets. Its international segment operates through retail stores and dealer outlets in Canada. Circuit City Stores Inc. has a market cap of $316.80 million; its shares were traded at around $1.88 with P/S ratio of 0.03. The dividend yield of Circuit City Stores Inc. stocks is 7.84%.

 

Sold Out: Chesapeake Energy Corp. (CHK)

Richard Pzena sold out his holdings in Chesapeake Energy Corp.. His sale prices were between $46.36 and $64.09, with an estimated average price of $55.3. The impact to his portfolio due to this sale was less than 0.01%.

Chesapeake Energy Corp. is an independent oil and gas company engaged in the development exploration acquisition and production of onshore natural gas and oil reserves. Chesapeake owns interests in producing oil and gas wells concentrated in three primary operating areas: the Mid-Continent region of Oklahoma western Arkansas southwestern Kansas and the Texas Panhandle; the Gulf Coast region consisting primarily of the Austin Chalk Trend in Texas and Louisiana and the Tuscaloosa Trend in Louisiana; and the Helmet area of northeastern British Columbia. Chesapeake Energy Corp. has a market cap of $23.59 billion; its shares were traded at around $43.29 with P/S ratio of 2.34. The dividend yield of Chesapeake Energy Corp. stocks is 0.61%.

Sold Out: CONMED Corp. (CNMD)

Richard Pzena sold out his holdings in CONMED Corp.. His sale prices were between $23.93 and $26.88, with an estimated average price of $25.8. The impact to his portfolio due to this sale was less than 0.01%.

CONMED Corporation is a medical technology company specializing in instruments and implants for arthroscopic sports medicine and powered surgical instruments such as drills and saws for orthopaedic ENT and neurosurgery. The company is also a leading developer manufacturer and supplier of advanced medical devices including electrosurgical systems electrodes for heart monitoring. The company's products are used in a variety of clinical settings such as operating rooms surgery centers physicians' offices and critical care areas of hospitals. CONMED Corp. has a market cap of $914.32 million; its shares were traded at around $31.9 with a P/E ratio of 21.32 and P/S ratio of 1.21.

Sold Out: Horace Mann Educators Corp. (HMN)

Richard Pzena sold out his holdings in Horace Mann Educators Corp.. His sale prices were between $14.58 and $18.18, with an estimated average price of $16.6. The impact to his portfolio due to this sale was less than 0.01%.

Horace Mann Educators Corporation is a multiline insurance holding company that targets the US educator market. The company and its subsidiaries Horace Mann Insurance Co. Teachers Insurance Co. Horace Mann Life Insurance Co. and Allegiance Insurance Co. provide retirement annuities automobile insurance homeowners insurance and life insurance to elementary and secondary teachers administrators and education support personnel in public and private schools. The company also offers group life and health insurance to school districts. Horace Mann Educators Corp. has a market cap of $576.15 million; its shares were traded at around $14.75 with a P/E ratio of 11.47 and P/S ratio of 0.64. The dividend yield of Horace Mann Educators Corp. stocks is 2.95%.

Sold Out: Chevron Corp. (CVX)

Richard Pzena sold out his holdings in Chevron Corp.. His sale prices were between $87.46 and $100.73, with an estimated average price of $95.8. The impact to his portfolio due to this sale was less than 0.01%.

Chevron is the fifth-largest integrated energy company in the world. Headquartered in San Ramon California and conducting business in approximately 180 countries this highly competitive corporation is engaged in every aspect of the oil and natural gas industry including exploration and production; refining marketing and transportation; chemicals manufacturing and sales; and power generation. Chevron Corp. has a market cap of $174.57 billion; its shares were traded at around $84.4 with a P/E ratio of 8.95 and P/S ratio of 0.69. The dividend yield of Chevron Corp. stocks is 3.08%.

Sold Out: Nara Bancorp Inc. (NARA)

Richard Pzena sold out his holdings in Nara Bancorp Inc.. His sale prices were between $10.94 and $13.19, with an estimated average price of $12.2. The impact to his portfolio due to this sale was less than 0.01%.

Nara Bancorp Inc. is a bank holding company for Nara Bank N.A. Nara Bancorp Inc. has a market cap of $314.36 million; its shares were traded at around $12 with a P/E ratio of 12.83 and P/S ratio of 2.98. The dividend yield of Nara Bancorp Inc. stocks is 1.1%.

 


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