Bill Miller is having some hard times. It seems that whatever he buys, it goes down. This makes people wonder if his 15-year streak was really just out of luck. He has been losing investors. But he said it is the best time to buy his fund. This is his second quarter buys and sells.
Bill Miller buys Health Net Inc., Sun Microsystems Inc., Crocs Inc., Lehman Brothers Holdings Inc., National City Corp., sells MBIA Inc., AK Steel Holding Corp., US Airways Group Inc., General Motors Corp., EMC Corp., Career Education Corp., AMR Corp., IAC/InterActiveCorp New, VISA INC, KB Home, J.C. Penney Company Inc., Wachovia Corp., Delta Air Lines Inc., Capital One Financial Corp. during the 3-months ended 06/30/2008, according to the most recent filings of his investment company, Legg Mason Value Trust. Bill Miller owns 73 stocks with a total value of $14.3 billion. These are the details of the buys and sells.
New Purchases: CROX, HNT, JAVA, LEH, NCC,
Added Positions: EK, FRE, GE, MER, MNST,
Reduced Positions: CTX, EXPE, HLS, LIZ, MNKD, NTES, NUE, PHM, PNK, Q, RDN, S, UAUA, X, XIDE, XMSR,
Sold Out: AKS, AMR, CECO, COF, DAL, EMC, GM, IACID, JCP, KBH, LCC, MBI, V, WB,
For the details of 's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=
Added: Monster Worldwide Inc. (MNST, Financial)
Bill Miller added to his holdings in Monster Worldwide Inc. by 65.11%. His purchase prices were between $20.98 and $27.68, with an estimated average price of $24.2. The impact to his portfolio due to this purchase was 0.48%. His holdings were 2,789,400 shares as of 06/30/2008.
Monster Worldwide Inc is the online recruitment leader and the parent company of Monster the leading global careers website. Headquartered in New York Monster Worldwide is also the world's largest Recruitment Advertising agency network the world's largest Yellow Pages advertising agency and a provider of direct marketing services. Monster Worldwide Inc. has a market cap of $2.5 billion; its shares were traded at around $20.19 with a P/E ratio of 19.21 and P/S ratio of 1.70.
Added: Eastman Kodak Company (EK, Financial)
Bill Miller added to his holdings in Eastman Kodak Company by 14.21%. His purchase prices were between $12.41 and $19.16, with an estimated average price of $16. The impact to his portfolio due to this purchase was 0.32%. His holdings were 8,368,100 shares as of 06/30/2008.
Eastman Kodak Company is engaged primarily in developing manufacturing and marketing consumer professional health and other imaging products and services. The company is made up of the following operating segments: Consumer Imaging Kodak Professional Health Imaging and Other Imaging. Eastman Kodak Company has a market cap of $4.47 billion; its shares were traded at around $15.5 with a P/E ratio of 7.08 and P/S ratio of 0.42. The dividend yield of Eastman Kodak Company stocks is 3.1%.
Added: General Electric Company (GE, Financial)
Bill Miller added to his holdings in General Electric Company by 7.98%. His purchase prices were between $26.26 and $37.15, with an estimated average price of $31. The impact to his portfolio due to this purchase was 0.29%. His holdings were 14,188,200 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 $289.39 billion; its shares were traded at around $29.09 with a P/E ratio of 13.53 and P/S ratio of 1.54. The dividend yield of General Electric Company stocks is 4.4%.
Added: Merrill Lynch & Co. Inc. (MER, Financial)
Bill Miller added to his holdings in Merrill Lynch & Co. Inc. by 13.07%. His purchase prices were between $32.27 and $51.66, with an estimated average price of $43.1. The impact to his portfolio due to this purchase was 0.24%. His holdings were 6,305,600 shares as of 06/30/2008.
Merrill Lynch & Co. Inc. is one of the world's leading financial management and advisory companies with offices in numerous countries. The firm is a global underwriter and market maker of debt and equity securities and a strategic advisor to corporations governments institutions and individuals worldwide. (Company Press Release) Merrill Lynch & Co. Inc. has a market cap of $42.25 billion; its shares were traded at around $27.59 . The dividend yield of Merrill Lynch & Co. Inc. stocks is 4.9%.
Added: Freddie Mac (FRE, Financial)
Bill Miller added to his holdings in Freddie Mac by 4.8%. 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 0.14%. His holdings were 17,711,635 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 $569.37 million; its shares were traded at around $0.88 . The dividend yield of Freddie Mac stocks is 22.2%.
New Purchase: Health Net Inc. (HNT, Financial)
Bill Miller initiated holdings in Health Net Inc.. His purchase prices were between $24.8 and $31, with an estimated average price of $28.7. The impact to his portfolio due to this purchase was 2.76%. His holdings were 5,400,000 shares as of 06/30/2008.
Health Net Inc. is an integrated managed care organization which administers the delivery of managed health care services. The company's health maintenance organizations insured preferred provider organizations and government contracts subsidiaries provide health benefits to individuals through group individual Medicare risk Medicaid and TRICARE programs. Health Net Inc. has a market cap of $2.94 billion; its shares were traded at around $27.39 with a P/E ratio of 56.36 and P/S ratio of 0.19.
New Purchase: Sun Microsystems Inc. (JAVA, Financial)
Bill Miller initiated holdings in Sun Microsystems Inc.. His purchase prices were between $10.96 and $16, with an estimated average price of $13.3. The impact to his portfolio due to this purchase was 1%. His holdings were 4,339,400 shares as of 06/30/2008.
Sun Microsystems Inc. is one of the leading worldwide providers of products services and support solutions for building and maintaining network computing environments. The company sells scalable computer and storage systems high-speed microprocessors and a complete line of high performance software for operating network computing equipment. The company also provides a full range of services including support education and professional services. Sun Microsystems Inc. has a market cap of $6.62 billion; its shares were traded at around $8.79 with a P/E ratio of 17.94 and P/S ratio of 0.46.
New Purchase: Crocs Inc. (CROX, Financial)
Bill Miller initiated holdings in Crocs Inc.. His purchase prices were between $8.22 and $18.38, with an estimated average price of $11.4. The impact to his portfolio due to this purchase was 0.85%. His holdings were 4,977,300 shares as of 06/30/2008.
Crocs Inc. is a rapidly growing designer manufacturer and marketer of footwear for men women and children under the CROCS brand. All of the Company's footwear products incorporate its proprietary closed-cell resin material which the Company believes represents a substantial innovation in footwear comfort and functionality. The Company's proprietary closed-cell resin which it refers to as Croslite enables Crocs to produce a soft and lightweight non-marking slip and odor-resistant shoe. These unique properties make the Company's footwear ideal for casual wear as well as for recreational uses such as boating hiking fishing and gardening and have enabled Crocs to successfully market its products to a broad range of consumers. Crocs Inc. has a market cap of $420.01 million; its shares were traded at around $5.07 with a P/E ratio of 4.60 and P/S ratio of 0.42.
New Purchase: Lehman Brothers Holdings Inc. (LEH, Financial)
Bill Miller initiated holdings in Lehman Brothers Holdings Inc.. 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 0.84%. His holdings were 2,000,000 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 $9.83 billion; its shares were traded at around $14.15 with P/S ratio of 0.98. The dividend yield of Lehman Brothers Holdings Inc. stocks is 4.2%.
New Purchase: National City Corp. (NCC, Financial)
Bill Miller 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 0.1%. His holdings were 983,380 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 $3.92 billion; its shares were traded at around $5.15 with P/S ratio of 1.22. The dividend yield of National City Corp. stocks is 0.8%.
Reduced: Radian Group Inc. (RDN, Financial)
Bill Miller reduced to his holdings in Radian Group Inc. by 71.34%. His sale prices were between $1.43 and $6.07, with an estimated average price of $4.7. The impact to his portfolio due to this sale was -0.01%. Bill Miller still held 806,600 shares as of 06/30/2008.
Radian Group Inc. is the parent company of Radian Guaranty Inc. The company provides private mortgage insurance and risk management services to mortgage lenders nationwide; these services increase homeownership opportunities by helping people to buy homes with down payments of less than 20 percent. Private mortgage insurance protects lenders from default-related losses on residential first mortgages and facilitates the sale of low-down-payment mortgage loans in the secondary market. (PRESS RELEASE) Radian Group Inc. has a market cap of $337.57 million; its shares were traded at around $4.19 with P/S ratio of 0.41. The dividend yield of Radian Group Inc. stocks is 0.3%.
Reduced: HEALTHSOUTH Corp. (HLS, Financial)
Bill Miller reduced to his holdings in HEALTHSOUTH Corp. by 86.37%. His sale prices were between $17.04 and $19.93, with an estimated average price of $19. The impact to his portfolio due to this sale was -0.08%. Bill Miller still held 266,120 shares as of 06/30/2008.
HEALTHSOUTH Corp. is the one of the nation's largest providers of outpatient surgery and rehabilitative healthcare services. The company provides these services through its national network of inpatient and outpatient healthcare facilities including inpatient and outpatient rehabilitation facilities outpatient surgery centers diagnostic centers occupational medicine centers medical centers and other healthcare facilities. HEALTHSOUTH Corp. has a market cap of $1.6 billion; its shares were traded at around $18.15 with a P/E ratio of 5.47 and P/S ratio of 0.87.
Reduced: UAL Corp. (UAUA)
Bill Miller reduced to his holdings in UAL Corp. by 88.41%. His sale prices were between $5.56 and $22.9, with an estimated average price of $13.1. The impact to his portfolio due to this sale was -0.11%. Bill Miller still held 1,184,818 shares as of 06/30/2008.
United Airlines organization is committed to continuous improvements in costs revenues and operations to sustain and enhance a competitive margin. To achieve this goal the company is investing in its employees and ensuring accountability to create a high-performing organization. The company's portfolio of products offers the right service to the right customer at the right price. UAL Corp. has a market cap of $1.38 billion; its shares were traded at around $10.92 with P/S ratio of 0.08.
Reduced: MannKind Corp. (MNKD)
Bill Miller reduced to his holdings in MannKind Corp. by 22.14%. His sale prices were between $2.09 and $6.07, with an estimated average price of $2.9. The impact to his portfolio due to this sale was -0.15%. Bill Miller still held 10,916,967 shares as of 06/30/2008.
Mannkind Corporation is a biopharmaceutical company focused on the discovery development and commercialization of therapeutic products for diseases such as diabetes cancer inflammatory and autoimmune diseases. The Company's lead product the Technosphere Insulin System consists of the Company's dry-powder Technosphere formulation of insulin and the Company's MedTone inhaler through which the powder is inhaled into the deep lung. MannKind Corp. has a market cap of $318.00 million; its shares were traded at around $3.13 .
Reduced: Pinnacle Entertainment Inc. (PNK)
Bill Miller reduced to his holdings in Pinnacle Entertainment Inc. by 46%. His sale prices were between $10.8 and $16.15, with an estimated average price of $13.8. The impact to his portfolio due to this sale was -0.15%. Bill Miller still held 1,501,250 shares as of 06/30/2008.
Pinnacle Entertainment is a diversified gaming company that owns and operates casinos in Indiana Louisiana Mississippi Nevada and Argentina and is pursuing the development of a hotel and casino resort in Lake Charles Louisiana. The Company also receives lease income from two card club casinos both in the Los Angeles metropolitan area. Pinnacle Entertainment Inc. has a market cap of $642.24 million; its shares were traded at around $10.71 with P/S ratio of 0.64.
Reduced: Liz Claiborne Inc. (LIZ)
Bill Miller reduced to his holdings in Liz Claiborne Inc. by 65.23%. His sale prices were between $14.57 and $18.96, with an estimated average price of $17.1. The impact to his portfolio due to this sale was -0.16%. Bill Miller still held 785,491 shares as of 06/30/2008.
Liz Claiborne Inc. designs and markets an extensive range of brandedwomen's and men's fashion apparel and accessories appropriate for occasions ranging from casual to dressy. The company also markets fragrances for women and men. The company's brands include Claiborne Crazy Horse Curve Dana Buchman Elisabeth Emma Jeans First Issue Laundry by Shelli Segal Liz Claiborne Lucky Brand Russ Sigrid Olsen and Villager. Liz Claiborne Inc. has a market cap of $1.73 billion; its shares were traded at around $18.24 with P/S ratio of 0.35. The dividend yield of Liz Claiborne Inc. stocks is 1.4%.
Reduced: Nucor Corp. (NUE)
Bill Miller reduced to his holdings in Nucor Corp. by 54.45%. His sale prices were between $68.18 and $81.52, with an estimated average price of $74.6. The impact to his portfolio due to this sale was -0.19%. Bill Miller still held 452,800 shares as of 06/30/2008.
Nucor Corporation manufactures and sells steel products. Principal steel products are hot-rolled steel (angles rounds flats channels sheet wide-flange beams pilings billets blooms and beam blanks) cold-rolled steel cold finished steel steel joists and joist girders steeldeck steel fasteners and steel grinding balls. Nucor is the largest recycler in the United States. Nucor and affiliates are manufacturers of steel products with operating facilities in fourteen states. Nucor Corp. has a market cap of $14.77 billion; its shares were traded at around $46.67 with a P/E ratio of 7.89 and P/S ratio of 0.74. The dividend yield of Nucor Corp. stocks is 2.4%.
Reduced: XM Satellite Radio Holdings Inc. (XMSR)
Bill Miller reduced to his holdings in XM Satellite Radio Holdings Inc. by 71.34%. His sale prices were between $8.07 and $12.04, with an estimated average price of $10.8. The impact to his portfolio due to this sale was -0.31%. Bill Miller still held 2,646,124 shares as of 06/30/2008.
XM Satellite Radio Holdings Inc. is developing a new band of radio. The system will use direct satellite-to-receiver broadcasting technology to provide listeners with crystal-clear sound seamlessly from coast to coast. XM will offer a broad selection of listening choices created by its XM Originals programming unit and by premier content providers including USA TODAY BBC World Service Black Entertainment Television Bloomberg Radio C-SPAN Radio CNN/Financial Network CNN/Sports Illustrated The Weather Channel One-On-One Sports and many others. XM Satellite Radio Holdings Inc. has a market cap of $ million; its shares were traded at around $8.17 .
Reduced: Netease.com Inc. (NTES)
Bill Miller reduced to his holdings in Netease.com Inc. by 21.88%. His sale prices were between $19.28 and $24.96, with an estimated average price of $22. The impact to his portfolio due to this sale was -0.53%. Bill Miller still held 5,274,784 shares as of 06/30/2008.
Netease.com is one of the leading Internet companies in China. The company's web site provides an intimate community setting for millions of registered Chinese users. Members of its web site community enjoy access to free web-based E-mail Online auctions Online chat rooms Personalized web sites Instant messaging Web hosting as well as E-commerce services. Also the company offers easily accessible Content Channels putting its users in instant contact with all of the latest in news and online media. Netease.com Inc. has a market cap of $2.97 billion; its shares were traded at around $24.52 with a P/E ratio of 16.04 and P/S ratio of 7.64.
Reduced: Centex Corp. (CTX)
Bill Miller reduced to his holdings in Centex Corp. by 53.72%. His sale prices were between $13.92 and $26.06, with an estimated average price of $19.7. The impact to his portfolio due to this sale was -0.61%. Bill Miller still held 4,000,000 shares as of 06/30/2008.
Centex Corporation is the nation's premier company in building and related services: Home Building Home Services Financial Services Contracting and Construction Services Construction Products and Investment Real Estate. Centex Corp. has a market cap of $2.27 billion; its shares were traded at around $18.38 with P/S ratio of 0.27. The dividend yield of Centex Corp. stocks is 1%.
Reduced: Qwest Communications International Inc. (Q)
Bill Miller reduced to his holdings in Qwest Communications International Inc. by 20.8%. His sale prices were between $3.73 and $5.21, with an estimated average price of $4.5. The impact to his portfolio due to this sale was -0.64%. Bill Miller still held 74,642,800 shares as of 06/30/2008.
Qwest Communications Int'l Inc. is a broadband Internet communications company that provides advanced communication services data multimedia and Internet-based services on a national and global basis; and wireless services local telecommunications and related services and directory services. The company principally serves large and mid-size business and government customers on a national and international basis as well as residential and small business customers. Qwest Communications International Inc. has a market cap of $6.73 billion; its shares were traded at around $3.9 with a P/E ratio of 2.56 and P/S ratio of 0.48. The dividend yield of Qwest Communications International Inc. stocks is 8.5%.
Reduced: Pulte Homes Inc. (PHM)
Bill Miller reduced to his holdings in Pulte Homes Inc. by 52.67%. His sale prices were between $10.07 and $15.75, with an estimated average price of $12.9. The impact to his portfolio due to this sale was -0.84%. Bill Miller still held 7,786,095 shares as of 06/30/2008.
Pulte Corporation is a publicly held holding company whose subsidiaries engage in the homebuilding and financial services businesses. The company's significant subsidiaries include Pulte Financial Companies Inc. Pulte Diversified Companies Inc. and other subsidiaries which are engaged in the homebuilding business. Pulte Homes Inc. has a market cap of $4.18 billion; its shares were traded at around $16.22 with P/S ratio of 0.45. The dividend yield of Pulte Homes Inc. stocks is 1.1%.
Reduced: Exide Technologies New (XIDE)
Bill Miller reduced to his holdings in Exide Technologies New by 46.75%. His sale prices were between $13.12 and $17.98, with an estimated average price of $15.4. The impact to his portfolio due to this sale was -1%. Bill Miller still held 6,007,978 shares as of 06/30/2008.
Exide Technologies is one of the world's largest producers and recyclers of lead-acid batteries. The Company's four global business groups - Transportation North America Transportation Europe and Rest of World Industrial Energy North America and Industrial Energy Europe and Rest of World - provide a comprehensive range of stored electrical energy products and services for industrial and transportation applications. Transportation markets include original-equipment and aftermarket automotive heavy-duty truck agricultural and marine applications and new technologies for hybrid vehicles and forty two-volt automotive applications. Industrial markets include network power applications such as telecommunications systems electric utilities railroads photovoltaic i.e. solar-power related and uninterruptible power supply and motive-power applications including lift trucks mining and other commercial vehicles. Exide Technologies New has a market cap of $775.75 million; its shares were traded at around $10.3 with a P/E ratio of 13.05 and P/S ratio of 0.20.
Reduced: United States Steel Corp. (X)
Bill Miller reduced to his holdings in United States Steel Corp. by 71.43%. His sale prices were between $140.19 and $186.52, with an estimated average price of $166.4. The impact to his portfolio due to this sale was -1.12%. Bill Miller still held 400,000 shares as of 06/30/2008.
United States Steel manufactures and sells a variety of steel mill products coke and taconite pellets. Primary steel operations are the Gary (Indiana) Works the Fairfield (Alabama) Works near Birmingham the Mon Valley Works ( which includes the Edgar Thomson steelmaking and Irvin finishing operations) on the Monongahela River near Pittsburgh and U. S. Steel Kosice in the Slovak Republic. United States Steel Corp. has a market cap of $12.64 billion; its shares were traded at around $107.61 with a P/E ratio of 10.56 and P/S ratio of 0.64. The dividend yield of United States Steel Corp. stocks is 0.9%.
Reduced: Expedia Inc. (EXPE)
Bill Miller reduced to his holdings in Expedia Inc. by 46.99%. His sale prices were between $19.16 and $25.17, with an estimated average price of $23.1. The impact to his portfolio due to this sale was -1.27%. Bill Miller still held 6,950,300 shares as of 06/30/2008.
Expedia Inc. is one of the world's leading travel services companies. The company provides wholesale travel to offline retail travel agents. Expedia Inc.'s main businesses and brands include: Expedia.com Hotels.com Hotwire Expedia Corporate Travel Trip Advisor and Classic Custom Vacations. Expedia Inc.'s companies also operate internationally with sites in Canada the United Kingdom Germany France Italy Netherlands and China through its investment in eLong. Expedia Inc. has a market cap of $5.11 billion; its shares were traded at around $17.84 with a P/E ratio of 17.15 and P/S ratio of 1.73.
Reduced: Sprint Nextel Corp. Series 1 (S)
Bill Miller reduced to his holdings in Sprint Nextel Corp. Series 1 by 56.27%. His sale prices were between $6.47 and $9.38, with an estimated average price of $8.2. The impact to his portfolio due to this sale was -1.35%. Bill Miller still held 11,929,100 shares as of 06/30/2008.
Sprint Nextel offers a comprehensive range of wireless and wireline communications services to consumer business and government customers. Sprint Nextel is widely recognized for developing engineering and deploying innovative technologies including two robust wireless networks offering industry leading mobile data services; instant national and international push-to-talk capabilities; and an award-winning and global Tier 1 Internet backbone. Sprint Nextel Corp. Series 1 has a market cap of $22.66 billion; its shares were traded at around $7.94 with P/S ratio of 0.60. The dividend yield of Sprint Nextel Corp. Series 1 stocks is 1.1%.
Sold Out: General Motors Corp. (GM)
Bill Miller sold out his holdings in General Motors Corp.. His sale prices were between $11.55 and $22.91, with an estimated average price of $18.2. The impact to his portfolio due to this sale was less than 0.01%.
General Motors Corp. designs manufactures and markets automotive vehicles. General Motors also has substantial interests in digital communications financial and insurance services locomotives and heavy-duty automatic transmissions. The company is one of the largest U.S. exporters of cars and trucks with a global presence in countries across the globe. General Motors Corp. has a market cap of $6.13 billion; its shares were traded at around $10.83 with P/S ratio of 0.04. The dividend yield of General Motors Corp. stocks is 10%.
Sold Out: AK Steel Holding Corp. (AKS)
Bill Miller sold out his holdings in AK Steel Holding Corp.. His sale prices were between $60.92 and $70.97, with an estimated average price of $68. The impact to his portfolio due to this sale was less than 0.01%.
AK Steel produces flat-rolled carbon stainless and electrical steel products as well as carbon and stainless tubular steel products for automotive appliance construction and manufacturing markets. AK Steel maintains a relentless pursuit of improvement in every critical performance measure. The result is a track record without equal. AK Steel Holding Corp. has a market cap of $4.52 billion; its shares were traded at around $40.26 with a P/E ratio of 9.80 and P/S ratio of 0.61. The dividend yield of AK Steel Holding Corp. stocks is 0.4%.
Sold Out: IAC/InterActiveCorp New (IACID)
Bill Miller sold out his holdings in IAC/InterActiveCorp New. His sale prices were between $27.2 and $34.24, with an estimated average price of $30.7. The impact to his portfolio due to this sale was less than 0.01%.
IAC/InterActiveCorp New has a market cap of $2.39 billion; its shares were traded at around $17.06 with P/S ratio of 0.37.
Sold Out: MBIA Inc. (MBI)
Bill Miller sold out his holdings in MBIA Inc.. His sale prices were between $4.17 and $13.61, with an estimated average price of $8.8. The impact to his portfolio due to this sale was less than 0.01%.
MBIA Incorporated is engaged in providing financial guaranteeinsurance and investment management and financial services to public finance clients and financial institutions on a global basis. Financial guarantees for municipal bonds asset-backed and mortgage-backed securities investor-owned utility bonds and collateralized obligations of sovereigns corporations and financial institutions both in the new issue and secondary markets are provided through the Company's wholly-owned subsidiary MBIA Insurance Corporation. MBIA Inc. has a market cap of $4.43 billion; its shares were traded at around $16.2 . The dividend yield of MBIA Inc. stocks is 8.4%.
Sold Out: KB Home (KBH)
Bill Miller sold out his holdings in KB Home. His sale prices were between $17.44 and $26.43, with an estimated average price of $21.7. The impact to his portfolio due to this sale was less than 0.01%.
KB Home is a builder of single-family homes with domestic operations in several western states and international operations in France. Domestically the company builds innovatively designed homes which cater primarily to first-time homebuyers generally in medium-sized developments close to major metropolitan areas. Internationally the company also builds commercial projects and high density residential properties such as condominium complexes. KB Home has a market cap of $2.11 billion; its shares were traded at around $23.54 with P/S ratio of 0.37. The dividend yield of KB Home stocks is 4.8%.
Sold Out: EMC Corp. (EMC)
Bill Miller sold out his holdings in EMC Corp.. His sale prices were between $14.77 and $17.72, with an estimated average price of $16.1. The impact to his portfolio due to this sale was less than 0.01%.
EMC Corporation and its subsidiaries design manufacture market and support a wide range of hardware and software products and provide services for the storage management protection and sharing ofelectronic information. These integrated solutions enable organizations tocreate an enterprise information infrastructure or what EMC calls anE-Infostructure. EMC is the leading supplier of these solutions which comprise information storage systems software and services. EMC Corp. has a market cap of $29.61 billion; its shares were traded at around $14.3 with a P/E ratio of 18.55 and P/S ratio of 2.04.
Sold Out: Capital One Financial Corp. (COF)
Bill Miller sold out his holdings in Capital One Financial Corp.. His sale prices were between $37.99 and $54.39, with an estimated average price of $47.4. The impact to his portfolio due to this sale was less than 0.01%.
Capital One Financial is a holding company whose subsidiaries provide a variety of products and services to consumers using its proprietary information-based strategy. The corporation's principal subsidiary Capital One Bank offers credit card products. Capital One Services Inc. another subsidiary of the corporation provides various operating administrative and other services to the corporation and its subsidiaries. Capital One Financial Corp. has a market cap of $18.31 billion; its shares were traded at around $48.73 with a P/E ratio of 16.10 and P/S ratio of 1.52. The dividend yield of Capital One Financial Corp. stocks is 3.4%.
Sold Out: VISA INC (V)
Bill Miller sold out his holdings in VISA INC. His sale prices were between $64.39 and $86.24, with an estimated average price of $78.1. The impact to his portfolio due to this sale was less than 0.01%.
VISA operates the world's largest retail electronic payments network and is one of the most recognized global financial services brands. Visa facilitates global commerce through the transfer of value and information among financial institutions merchants consumers businesses and government entities. VISA INC has a market cap of $54.54 billion; its shares were traded at around $70.1 with P/S ratio of 7.81. The dividend yield of VISA INC stocks is 0.6%.
Sold Out: US Airways Group Inc. (LCC)
Bill Miller sold out his holdings in US Airways Group Inc.. His sale prices were between $2.45 and $9.43, with an estimated average price of $6. The impact to his portfolio due to this sale was less than 0.01%.
America West Holdings Corporation is the parent company of AWA and TLC. AWA is a commercial airline carrier in the United States. TLC arranges and sells leisure travel products that may include airfare hotel accommodations ground transportation and a variety of other travel options. US Airways Group Inc. has a market cap of $707.89 million; its shares were traded at around $7.68 with P/S ratio of 0.06.
Sold Out: AMR Corp. (AMR)
Bill Miller sold out his holdings in AMR Corp.. His sale prices were between $5.35 and $9.88, with an estimated average price of $7.7. The impact to his portfolio due to this sale was less than 0.01%.
AMR Corporation operations fall almost entirely in the airline industry. AMR's principal subsidiary is American Airlines Inc. American is one of the largest scheduled passenger airlines in the world and provides scheduled jet service to more than 169 destinations throughout North America the Caribbean Latin America Europe and the Pacific. American is also one of the largest scheduled air freight carriers in the world providing a full range of freight and mail services to shippers throughout its system. AMR Corp. has a market cap of $2.63 billion; its shares were traded at around $10.46 with P/S ratio of 0.12.
Sold Out: Delta Air Lines Inc. (DAL)
Bill Miller sold out his holdings in Delta Air Lines Inc.. His sale prices were between $5.32 and $10.01, with an estimated average price of $7.1. The impact to his portfolio due to this sale was less than 0.01%.
Delta is America's fastest growing international carrier. Delta Air Lines offers customers service to more destinations than any global airline with Delta and Delta Connection carrier service. Delta has added more international capacity than all other U.S. airlines combined and is the leader across the Atlantic. Delta Air Lines Inc. has a market cap of $2.61 billion; its shares were traded at around $8.59 with P/S ratio of 0.13.
Sold Out: Career Education Corp. (CECO)
Bill Miller sold out his holdings in Career Education Corp.. His sale prices were between $15.78 and $20.26, with an estimated average price of $17.7. The impact to his portfolio due to this sale was less than 0.01%.
Career Education Corporation is a provider of private for-profit post-secondary education with campuses throughout the United States and Canada the United Kingdom and the United Arab Emirates. Their schools enjoy long operating histories and offer a variety of master's degree bachelor's degree associate degree and diploma programs in career-oriented disciplines. They offer educational programs principally in the following four career-related fields of study Visual Communication and Design Technologies Information Technology Business Studies and Culinary Arts. Career Education Corp. has a market cap of $1.78 billion; its shares were traded at around $19.91 with a P/E ratio of 34.09 and P/S ratio of 1.02.
Sold Out: Wachovia Corp. (WB)
Bill Miller sold out his holdings in Wachovia Corp.. His sale prices were between $16.16 and $29.52, with an estimated average price of $24. The impact to his portfolio due to this sale was less than 0.01%.
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 $40.56 billion; its shares were traded at around $18.99 with P/S ratio of 1.94. The dividend yield of Wachovia Corp. stocks is 1.3%.
Sold Out: J.C. Penney Company Inc. (JCP)
Bill Miller sold out his holdings in J.C. Penney Company Inc.. His sale prices were between $36.63 and $44.94, with an estimated average price of $40.3. The impact to his portfolio due to this sale was less than 0.01%.
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 $9.61 billion; its shares were traded at around $43.29 with a P/E ratio of 10.40 and P/S ratio of 0.46. The dividend yield of J.C. Penney Company Inc. stocks is 2.1%.
Bill Miller buys Health Net Inc., Sun Microsystems Inc., Crocs Inc., Lehman Brothers Holdings Inc., National City Corp., sells MBIA Inc., AK Steel Holding Corp., US Airways Group Inc., General Motors Corp., EMC Corp., Career Education Corp., AMR Corp., IAC/InterActiveCorp New, VISA INC, KB Home, J.C. Penney Company Inc., Wachovia Corp., Delta Air Lines Inc., Capital One Financial Corp. during the 3-months ended 06/30/2008, according to the most recent filings of his investment company, Legg Mason Value Trust. Bill Miller owns 73 stocks with a total value of $14.3 billion. These are the details of the buys and sells.
New Purchases: CROX, HNT, JAVA, LEH, NCC,
Added Positions: EK, FRE, GE, MER, MNST,
Reduced Positions: CTX, EXPE, HLS, LIZ, MNKD, NTES, NUE, PHM, PNK, Q, RDN, S, UAUA, X, XIDE, XMSR,
Sold Out: AKS, AMR, CECO, COF, DAL, EMC, GM, IACID, JCP, KBH, LCC, MBI, V, WB,
For the details of 's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=
Added: Monster Worldwide Inc. (MNST, Financial)
Bill Miller added to his holdings in Monster Worldwide Inc. by 65.11%. His purchase prices were between $20.98 and $27.68, with an estimated average price of $24.2. The impact to his portfolio due to this purchase was 0.48%. His holdings were 2,789,400 shares as of 06/30/2008.
Monster Worldwide Inc is the online recruitment leader and the parent company of Monster the leading global careers website. Headquartered in New York Monster Worldwide is also the world's largest Recruitment Advertising agency network the world's largest Yellow Pages advertising agency and a provider of direct marketing services. Monster Worldwide Inc. has a market cap of $2.5 billion; its shares were traded at around $20.19 with a P/E ratio of 19.21 and P/S ratio of 1.70.
Added: Eastman Kodak Company (EK, Financial)
Bill Miller added to his holdings in Eastman Kodak Company by 14.21%. His purchase prices were between $12.41 and $19.16, with an estimated average price of $16. The impact to his portfolio due to this purchase was 0.32%. His holdings were 8,368,100 shares as of 06/30/2008.
Eastman Kodak Company is engaged primarily in developing manufacturing and marketing consumer professional health and other imaging products and services. The company is made up of the following operating segments: Consumer Imaging Kodak Professional Health Imaging and Other Imaging. Eastman Kodak Company has a market cap of $4.47 billion; its shares were traded at around $15.5 with a P/E ratio of 7.08 and P/S ratio of 0.42. The dividend yield of Eastman Kodak Company stocks is 3.1%.
Added: General Electric Company (GE, Financial)
Bill Miller added to his holdings in General Electric Company by 7.98%. His purchase prices were between $26.26 and $37.15, with an estimated average price of $31. The impact to his portfolio due to this purchase was 0.29%. His holdings were 14,188,200 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 $289.39 billion; its shares were traded at around $29.09 with a P/E ratio of 13.53 and P/S ratio of 1.54. The dividend yield of General Electric Company stocks is 4.4%.
Added: Merrill Lynch & Co. Inc. (MER, Financial)
Bill Miller added to his holdings in Merrill Lynch & Co. Inc. by 13.07%. His purchase prices were between $32.27 and $51.66, with an estimated average price of $43.1. The impact to his portfolio due to this purchase was 0.24%. His holdings were 6,305,600 shares as of 06/30/2008.
Merrill Lynch & Co. Inc. is one of the world's leading financial management and advisory companies with offices in numerous countries. The firm is a global underwriter and market maker of debt and equity securities and a strategic advisor to corporations governments institutions and individuals worldwide. (Company Press Release) Merrill Lynch & Co. Inc. has a market cap of $42.25 billion; its shares were traded at around $27.59 . The dividend yield of Merrill Lynch & Co. Inc. stocks is 4.9%.
Added: Freddie Mac (FRE, Financial)
Bill Miller added to his holdings in Freddie Mac by 4.8%. 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 0.14%. His holdings were 17,711,635 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 $569.37 million; its shares were traded at around $0.88 . The dividend yield of Freddie Mac stocks is 22.2%.
New Purchase: Health Net Inc. (HNT, Financial)
Bill Miller initiated holdings in Health Net Inc.. His purchase prices were between $24.8 and $31, with an estimated average price of $28.7. The impact to his portfolio due to this purchase was 2.76%. His holdings were 5,400,000 shares as of 06/30/2008.
Health Net Inc. is an integrated managed care organization which administers the delivery of managed health care services. The company's health maintenance organizations insured preferred provider organizations and government contracts subsidiaries provide health benefits to individuals through group individual Medicare risk Medicaid and TRICARE programs. Health Net Inc. has a market cap of $2.94 billion; its shares were traded at around $27.39 with a P/E ratio of 56.36 and P/S ratio of 0.19.
New Purchase: Sun Microsystems Inc. (JAVA, Financial)
Bill Miller initiated holdings in Sun Microsystems Inc.. His purchase prices were between $10.96 and $16, with an estimated average price of $13.3. The impact to his portfolio due to this purchase was 1%. His holdings were 4,339,400 shares as of 06/30/2008.
Sun Microsystems Inc. is one of the leading worldwide providers of products services and support solutions for building and maintaining network computing environments. The company sells scalable computer and storage systems high-speed microprocessors and a complete line of high performance software for operating network computing equipment. The company also provides a full range of services including support education and professional services. Sun Microsystems Inc. has a market cap of $6.62 billion; its shares were traded at around $8.79 with a P/E ratio of 17.94 and P/S ratio of 0.46.
New Purchase: Crocs Inc. (CROX, Financial)
Bill Miller initiated holdings in Crocs Inc.. His purchase prices were between $8.22 and $18.38, with an estimated average price of $11.4. The impact to his portfolio due to this purchase was 0.85%. His holdings were 4,977,300 shares as of 06/30/2008.
Crocs Inc. is a rapidly growing designer manufacturer and marketer of footwear for men women and children under the CROCS brand. All of the Company's footwear products incorporate its proprietary closed-cell resin material which the Company believes represents a substantial innovation in footwear comfort and functionality. The Company's proprietary closed-cell resin which it refers to as Croslite enables Crocs to produce a soft and lightweight non-marking slip and odor-resistant shoe. These unique properties make the Company's footwear ideal for casual wear as well as for recreational uses such as boating hiking fishing and gardening and have enabled Crocs to successfully market its products to a broad range of consumers. Crocs Inc. has a market cap of $420.01 million; its shares were traded at around $5.07 with a P/E ratio of 4.60 and P/S ratio of 0.42.
New Purchase: Lehman Brothers Holdings Inc. (LEH, Financial)
Bill Miller initiated holdings in Lehman Brothers Holdings Inc.. 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 0.84%. His holdings were 2,000,000 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 $9.83 billion; its shares were traded at around $14.15 with P/S ratio of 0.98. The dividend yield of Lehman Brothers Holdings Inc. stocks is 4.2%.
New Purchase: National City Corp. (NCC, Financial)
Bill Miller 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 0.1%. His holdings were 983,380 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 $3.92 billion; its shares were traded at around $5.15 with P/S ratio of 1.22. The dividend yield of National City Corp. stocks is 0.8%.
Reduced: Radian Group Inc. (RDN, Financial)
Bill Miller reduced to his holdings in Radian Group Inc. by 71.34%. His sale prices were between $1.43 and $6.07, with an estimated average price of $4.7. The impact to his portfolio due to this sale was -0.01%. Bill Miller still held 806,600 shares as of 06/30/2008.
Radian Group Inc. is the parent company of Radian Guaranty Inc. The company provides private mortgage insurance and risk management services to mortgage lenders nationwide; these services increase homeownership opportunities by helping people to buy homes with down payments of less than 20 percent. Private mortgage insurance protects lenders from default-related losses on residential first mortgages and facilitates the sale of low-down-payment mortgage loans in the secondary market. (PRESS RELEASE) Radian Group Inc. has a market cap of $337.57 million; its shares were traded at around $4.19 with P/S ratio of 0.41. The dividend yield of Radian Group Inc. stocks is 0.3%.
Reduced: HEALTHSOUTH Corp. (HLS, Financial)
Bill Miller reduced to his holdings in HEALTHSOUTH Corp. by 86.37%. His sale prices were between $17.04 and $19.93, with an estimated average price of $19. The impact to his portfolio due to this sale was -0.08%. Bill Miller still held 266,120 shares as of 06/30/2008.
HEALTHSOUTH Corp. is the one of the nation's largest providers of outpatient surgery and rehabilitative healthcare services. The company provides these services through its national network of inpatient and outpatient healthcare facilities including inpatient and outpatient rehabilitation facilities outpatient surgery centers diagnostic centers occupational medicine centers medical centers and other healthcare facilities. HEALTHSOUTH Corp. has a market cap of $1.6 billion; its shares were traded at around $18.15 with a P/E ratio of 5.47 and P/S ratio of 0.87.
Reduced: UAL Corp. (UAUA)
Bill Miller reduced to his holdings in UAL Corp. by 88.41%. His sale prices were between $5.56 and $22.9, with an estimated average price of $13.1. The impact to his portfolio due to this sale was -0.11%. Bill Miller still held 1,184,818 shares as of 06/30/2008.
United Airlines organization is committed to continuous improvements in costs revenues and operations to sustain and enhance a competitive margin. To achieve this goal the company is investing in its employees and ensuring accountability to create a high-performing organization. The company's portfolio of products offers the right service to the right customer at the right price. UAL Corp. has a market cap of $1.38 billion; its shares were traded at around $10.92 with P/S ratio of 0.08.
Reduced: MannKind Corp. (MNKD)
Bill Miller reduced to his holdings in MannKind Corp. by 22.14%. His sale prices were between $2.09 and $6.07, with an estimated average price of $2.9. The impact to his portfolio due to this sale was -0.15%. Bill Miller still held 10,916,967 shares as of 06/30/2008.
Mannkind Corporation is a biopharmaceutical company focused on the discovery development and commercialization of therapeutic products for diseases such as diabetes cancer inflammatory and autoimmune diseases. The Company's lead product the Technosphere Insulin System consists of the Company's dry-powder Technosphere formulation of insulin and the Company's MedTone inhaler through which the powder is inhaled into the deep lung. MannKind Corp. has a market cap of $318.00 million; its shares were traded at around $3.13 .
Reduced: Pinnacle Entertainment Inc. (PNK)
Bill Miller reduced to his holdings in Pinnacle Entertainment Inc. by 46%. His sale prices were between $10.8 and $16.15, with an estimated average price of $13.8. The impact to his portfolio due to this sale was -0.15%. Bill Miller still held 1,501,250 shares as of 06/30/2008.
Pinnacle Entertainment is a diversified gaming company that owns and operates casinos in Indiana Louisiana Mississippi Nevada and Argentina and is pursuing the development of a hotel and casino resort in Lake Charles Louisiana. The Company also receives lease income from two card club casinos both in the Los Angeles metropolitan area. Pinnacle Entertainment Inc. has a market cap of $642.24 million; its shares were traded at around $10.71 with P/S ratio of 0.64.
Reduced: Liz Claiborne Inc. (LIZ)
Bill Miller reduced to his holdings in Liz Claiborne Inc. by 65.23%. His sale prices were between $14.57 and $18.96, with an estimated average price of $17.1. The impact to his portfolio due to this sale was -0.16%. Bill Miller still held 785,491 shares as of 06/30/2008.
Liz Claiborne Inc. designs and markets an extensive range of brandedwomen's and men's fashion apparel and accessories appropriate for occasions ranging from casual to dressy. The company also markets fragrances for women and men. The company's brands include Claiborne Crazy Horse Curve Dana Buchman Elisabeth Emma Jeans First Issue Laundry by Shelli Segal Liz Claiborne Lucky Brand Russ Sigrid Olsen and Villager. Liz Claiborne Inc. has a market cap of $1.73 billion; its shares were traded at around $18.24 with P/S ratio of 0.35. The dividend yield of Liz Claiborne Inc. stocks is 1.4%.
Reduced: Nucor Corp. (NUE)
Bill Miller reduced to his holdings in Nucor Corp. by 54.45%. His sale prices were between $68.18 and $81.52, with an estimated average price of $74.6. The impact to his portfolio due to this sale was -0.19%. Bill Miller still held 452,800 shares as of 06/30/2008.
Nucor Corporation manufactures and sells steel products. Principal steel products are hot-rolled steel (angles rounds flats channels sheet wide-flange beams pilings billets blooms and beam blanks) cold-rolled steel cold finished steel steel joists and joist girders steeldeck steel fasteners and steel grinding balls. Nucor is the largest recycler in the United States. Nucor and affiliates are manufacturers of steel products with operating facilities in fourteen states. Nucor Corp. has a market cap of $14.77 billion; its shares were traded at around $46.67 with a P/E ratio of 7.89 and P/S ratio of 0.74. The dividend yield of Nucor Corp. stocks is 2.4%.
Reduced: XM Satellite Radio Holdings Inc. (XMSR)
Bill Miller reduced to his holdings in XM Satellite Radio Holdings Inc. by 71.34%. His sale prices were between $8.07 and $12.04, with an estimated average price of $10.8. The impact to his portfolio due to this sale was -0.31%. Bill Miller still held 2,646,124 shares as of 06/30/2008.
XM Satellite Radio Holdings Inc. is developing a new band of radio. The system will use direct satellite-to-receiver broadcasting technology to provide listeners with crystal-clear sound seamlessly from coast to coast. XM will offer a broad selection of listening choices created by its XM Originals programming unit and by premier content providers including USA TODAY BBC World Service Black Entertainment Television Bloomberg Radio C-SPAN Radio CNN/Financial Network CNN/Sports Illustrated The Weather Channel One-On-One Sports and many others. XM Satellite Radio Holdings Inc. has a market cap of $ million; its shares were traded at around $8.17 .
Reduced: Netease.com Inc. (NTES)
Bill Miller reduced to his holdings in Netease.com Inc. by 21.88%. His sale prices were between $19.28 and $24.96, with an estimated average price of $22. The impact to his portfolio due to this sale was -0.53%. Bill Miller still held 5,274,784 shares as of 06/30/2008.
Netease.com is one of the leading Internet companies in China. The company's web site provides an intimate community setting for millions of registered Chinese users. Members of its web site community enjoy access to free web-based E-mail Online auctions Online chat rooms Personalized web sites Instant messaging Web hosting as well as E-commerce services. Also the company offers easily accessible Content Channels putting its users in instant contact with all of the latest in news and online media. Netease.com Inc. has a market cap of $2.97 billion; its shares were traded at around $24.52 with a P/E ratio of 16.04 and P/S ratio of 7.64.
Reduced: Centex Corp. (CTX)
Bill Miller reduced to his holdings in Centex Corp. by 53.72%. His sale prices were between $13.92 and $26.06, with an estimated average price of $19.7. The impact to his portfolio due to this sale was -0.61%. Bill Miller still held 4,000,000 shares as of 06/30/2008.
Centex Corporation is the nation's premier company in building and related services: Home Building Home Services Financial Services Contracting and Construction Services Construction Products and Investment Real Estate. Centex Corp. has a market cap of $2.27 billion; its shares were traded at around $18.38 with P/S ratio of 0.27. The dividend yield of Centex Corp. stocks is 1%.
Reduced: Qwest Communications International Inc. (Q)
Bill Miller reduced to his holdings in Qwest Communications International Inc. by 20.8%. His sale prices were between $3.73 and $5.21, with an estimated average price of $4.5. The impact to his portfolio due to this sale was -0.64%. Bill Miller still held 74,642,800 shares as of 06/30/2008.
Qwest Communications Int'l Inc. is a broadband Internet communications company that provides advanced communication services data multimedia and Internet-based services on a national and global basis; and wireless services local telecommunications and related services and directory services. The company principally serves large and mid-size business and government customers on a national and international basis as well as residential and small business customers. Qwest Communications International Inc. has a market cap of $6.73 billion; its shares were traded at around $3.9 with a P/E ratio of 2.56 and P/S ratio of 0.48. The dividend yield of Qwest Communications International Inc. stocks is 8.5%.
Reduced: Pulte Homes Inc. (PHM)
Bill Miller reduced to his holdings in Pulte Homes Inc. by 52.67%. His sale prices were between $10.07 and $15.75, with an estimated average price of $12.9. The impact to his portfolio due to this sale was -0.84%. Bill Miller still held 7,786,095 shares as of 06/30/2008.
Pulte Corporation is a publicly held holding company whose subsidiaries engage in the homebuilding and financial services businesses. The company's significant subsidiaries include Pulte Financial Companies Inc. Pulte Diversified Companies Inc. and other subsidiaries which are engaged in the homebuilding business. Pulte Homes Inc. has a market cap of $4.18 billion; its shares were traded at around $16.22 with P/S ratio of 0.45. The dividend yield of Pulte Homes Inc. stocks is 1.1%.
Reduced: Exide Technologies New (XIDE)
Bill Miller reduced to his holdings in Exide Technologies New by 46.75%. His sale prices were between $13.12 and $17.98, with an estimated average price of $15.4. The impact to his portfolio due to this sale was -1%. Bill Miller still held 6,007,978 shares as of 06/30/2008.
Exide Technologies is one of the world's largest producers and recyclers of lead-acid batteries. The Company's four global business groups - Transportation North America Transportation Europe and Rest of World Industrial Energy North America and Industrial Energy Europe and Rest of World - provide a comprehensive range of stored electrical energy products and services for industrial and transportation applications. Transportation markets include original-equipment and aftermarket automotive heavy-duty truck agricultural and marine applications and new technologies for hybrid vehicles and forty two-volt automotive applications. Industrial markets include network power applications such as telecommunications systems electric utilities railroads photovoltaic i.e. solar-power related and uninterruptible power supply and motive-power applications including lift trucks mining and other commercial vehicles. Exide Technologies New has a market cap of $775.75 million; its shares were traded at around $10.3 with a P/E ratio of 13.05 and P/S ratio of 0.20.
Reduced: United States Steel Corp. (X)
Bill Miller reduced to his holdings in United States Steel Corp. by 71.43%. His sale prices were between $140.19 and $186.52, with an estimated average price of $166.4. The impact to his portfolio due to this sale was -1.12%. Bill Miller still held 400,000 shares as of 06/30/2008.
United States Steel manufactures and sells a variety of steel mill products coke and taconite pellets. Primary steel operations are the Gary (Indiana) Works the Fairfield (Alabama) Works near Birmingham the Mon Valley Works ( which includes the Edgar Thomson steelmaking and Irvin finishing operations) on the Monongahela River near Pittsburgh and U. S. Steel Kosice in the Slovak Republic. United States Steel Corp. has a market cap of $12.64 billion; its shares were traded at around $107.61 with a P/E ratio of 10.56 and P/S ratio of 0.64. The dividend yield of United States Steel Corp. stocks is 0.9%.
Reduced: Expedia Inc. (EXPE)
Bill Miller reduced to his holdings in Expedia Inc. by 46.99%. His sale prices were between $19.16 and $25.17, with an estimated average price of $23.1. The impact to his portfolio due to this sale was -1.27%. Bill Miller still held 6,950,300 shares as of 06/30/2008.
Expedia Inc. is one of the world's leading travel services companies. The company provides wholesale travel to offline retail travel agents. Expedia Inc.'s main businesses and brands include: Expedia.com Hotels.com Hotwire Expedia Corporate Travel Trip Advisor and Classic Custom Vacations. Expedia Inc.'s companies also operate internationally with sites in Canada the United Kingdom Germany France Italy Netherlands and China through its investment in eLong. Expedia Inc. has a market cap of $5.11 billion; its shares were traded at around $17.84 with a P/E ratio of 17.15 and P/S ratio of 1.73.
Reduced: Sprint Nextel Corp. Series 1 (S)
Bill Miller reduced to his holdings in Sprint Nextel Corp. Series 1 by 56.27%. His sale prices were between $6.47 and $9.38, with an estimated average price of $8.2. The impact to his portfolio due to this sale was -1.35%. Bill Miller still held 11,929,100 shares as of 06/30/2008.
Sprint Nextel offers a comprehensive range of wireless and wireline communications services to consumer business and government customers. Sprint Nextel is widely recognized for developing engineering and deploying innovative technologies including two robust wireless networks offering industry leading mobile data services; instant national and international push-to-talk capabilities; and an award-winning and global Tier 1 Internet backbone. Sprint Nextel Corp. Series 1 has a market cap of $22.66 billion; its shares were traded at around $7.94 with P/S ratio of 0.60. The dividend yield of Sprint Nextel Corp. Series 1 stocks is 1.1%.
Sold Out: General Motors Corp. (GM)
Bill Miller sold out his holdings in General Motors Corp.. His sale prices were between $11.55 and $22.91, with an estimated average price of $18.2. The impact to his portfolio due to this sale was less than 0.01%.
General Motors Corp. designs manufactures and markets automotive vehicles. General Motors also has substantial interests in digital communications financial and insurance services locomotives and heavy-duty automatic transmissions. The company is one of the largest U.S. exporters of cars and trucks with a global presence in countries across the globe. General Motors Corp. has a market cap of $6.13 billion; its shares were traded at around $10.83 with P/S ratio of 0.04. The dividend yield of General Motors Corp. stocks is 10%.
Sold Out: AK Steel Holding Corp. (AKS)
Bill Miller sold out his holdings in AK Steel Holding Corp.. His sale prices were between $60.92 and $70.97, with an estimated average price of $68. The impact to his portfolio due to this sale was less than 0.01%.
AK Steel produces flat-rolled carbon stainless and electrical steel products as well as carbon and stainless tubular steel products for automotive appliance construction and manufacturing markets. AK Steel maintains a relentless pursuit of improvement in every critical performance measure. The result is a track record without equal. AK Steel Holding Corp. has a market cap of $4.52 billion; its shares were traded at around $40.26 with a P/E ratio of 9.80 and P/S ratio of 0.61. The dividend yield of AK Steel Holding Corp. stocks is 0.4%.
Sold Out: IAC/InterActiveCorp New (IACID)
Bill Miller sold out his holdings in IAC/InterActiveCorp New. His sale prices were between $27.2 and $34.24, with an estimated average price of $30.7. The impact to his portfolio due to this sale was less than 0.01%.
IAC/InterActiveCorp New has a market cap of $2.39 billion; its shares were traded at around $17.06 with P/S ratio of 0.37.
Sold Out: MBIA Inc. (MBI)
Bill Miller sold out his holdings in MBIA Inc.. His sale prices were between $4.17 and $13.61, with an estimated average price of $8.8. The impact to his portfolio due to this sale was less than 0.01%.
MBIA Incorporated is engaged in providing financial guaranteeinsurance and investment management and financial services to public finance clients and financial institutions on a global basis. Financial guarantees for municipal bonds asset-backed and mortgage-backed securities investor-owned utility bonds and collateralized obligations of sovereigns corporations and financial institutions both in the new issue and secondary markets are provided through the Company's wholly-owned subsidiary MBIA Insurance Corporation. MBIA Inc. has a market cap of $4.43 billion; its shares were traded at around $16.2 . The dividend yield of MBIA Inc. stocks is 8.4%.
Sold Out: KB Home (KBH)
Bill Miller sold out his holdings in KB Home. His sale prices were between $17.44 and $26.43, with an estimated average price of $21.7. The impact to his portfolio due to this sale was less than 0.01%.
KB Home is a builder of single-family homes with domestic operations in several western states and international operations in France. Domestically the company builds innovatively designed homes which cater primarily to first-time homebuyers generally in medium-sized developments close to major metropolitan areas. Internationally the company also builds commercial projects and high density residential properties such as condominium complexes. KB Home has a market cap of $2.11 billion; its shares were traded at around $23.54 with P/S ratio of 0.37. The dividend yield of KB Home stocks is 4.8%.
Sold Out: EMC Corp. (EMC)
Bill Miller sold out his holdings in EMC Corp.. His sale prices were between $14.77 and $17.72, with an estimated average price of $16.1. The impact to his portfolio due to this sale was less than 0.01%.
EMC Corporation and its subsidiaries design manufacture market and support a wide range of hardware and software products and provide services for the storage management protection and sharing ofelectronic information. These integrated solutions enable organizations tocreate an enterprise information infrastructure or what EMC calls anE-Infostructure. EMC is the leading supplier of these solutions which comprise information storage systems software and services. EMC Corp. has a market cap of $29.61 billion; its shares were traded at around $14.3 with a P/E ratio of 18.55 and P/S ratio of 2.04.
Sold Out: Capital One Financial Corp. (COF)
Bill Miller sold out his holdings in Capital One Financial Corp.. His sale prices were between $37.99 and $54.39, with an estimated average price of $47.4. The impact to his portfolio due to this sale was less than 0.01%.
Capital One Financial is a holding company whose subsidiaries provide a variety of products and services to consumers using its proprietary information-based strategy. The corporation's principal subsidiary Capital One Bank offers credit card products. Capital One Services Inc. another subsidiary of the corporation provides various operating administrative and other services to the corporation and its subsidiaries. Capital One Financial Corp. has a market cap of $18.31 billion; its shares were traded at around $48.73 with a P/E ratio of 16.10 and P/S ratio of 1.52. The dividend yield of Capital One Financial Corp. stocks is 3.4%.
Sold Out: VISA INC (V)
Bill Miller sold out his holdings in VISA INC. His sale prices were between $64.39 and $86.24, with an estimated average price of $78.1. The impact to his portfolio due to this sale was less than 0.01%.
VISA operates the world's largest retail electronic payments network and is one of the most recognized global financial services brands. Visa facilitates global commerce through the transfer of value and information among financial institutions merchants consumers businesses and government entities. VISA INC has a market cap of $54.54 billion; its shares were traded at around $70.1 with P/S ratio of 7.81. The dividend yield of VISA INC stocks is 0.6%.
Sold Out: US Airways Group Inc. (LCC)
Bill Miller sold out his holdings in US Airways Group Inc.. His sale prices were between $2.45 and $9.43, with an estimated average price of $6. The impact to his portfolio due to this sale was less than 0.01%.
America West Holdings Corporation is the parent company of AWA and TLC. AWA is a commercial airline carrier in the United States. TLC arranges and sells leisure travel products that may include airfare hotel accommodations ground transportation and a variety of other travel options. US Airways Group Inc. has a market cap of $707.89 million; its shares were traded at around $7.68 with P/S ratio of 0.06.
Sold Out: AMR Corp. (AMR)
Bill Miller sold out his holdings in AMR Corp.. His sale prices were between $5.35 and $9.88, with an estimated average price of $7.7. The impact to his portfolio due to this sale was less than 0.01%.
AMR Corporation operations fall almost entirely in the airline industry. AMR's principal subsidiary is American Airlines Inc. American is one of the largest scheduled passenger airlines in the world and provides scheduled jet service to more than 169 destinations throughout North America the Caribbean Latin America Europe and the Pacific. American is also one of the largest scheduled air freight carriers in the world providing a full range of freight and mail services to shippers throughout its system. AMR Corp. has a market cap of $2.63 billion; its shares were traded at around $10.46 with P/S ratio of 0.12.
Sold Out: Delta Air Lines Inc. (DAL)
Bill Miller sold out his holdings in Delta Air Lines Inc.. His sale prices were between $5.32 and $10.01, with an estimated average price of $7.1. The impact to his portfolio due to this sale was less than 0.01%.
Delta is America's fastest growing international carrier. Delta Air Lines offers customers service to more destinations than any global airline with Delta and Delta Connection carrier service. Delta has added more international capacity than all other U.S. airlines combined and is the leader across the Atlantic. Delta Air Lines Inc. has a market cap of $2.61 billion; its shares were traded at around $8.59 with P/S ratio of 0.13.
Sold Out: Career Education Corp. (CECO)
Bill Miller sold out his holdings in Career Education Corp.. His sale prices were between $15.78 and $20.26, with an estimated average price of $17.7. The impact to his portfolio due to this sale was less than 0.01%.
Career Education Corporation is a provider of private for-profit post-secondary education with campuses throughout the United States and Canada the United Kingdom and the United Arab Emirates. Their schools enjoy long operating histories and offer a variety of master's degree bachelor's degree associate degree and diploma programs in career-oriented disciplines. They offer educational programs principally in the following four career-related fields of study Visual Communication and Design Technologies Information Technology Business Studies and Culinary Arts. Career Education Corp. has a market cap of $1.78 billion; its shares were traded at around $19.91 with a P/E ratio of 34.09 and P/S ratio of 1.02.
Sold Out: Wachovia Corp. (WB)
Bill Miller sold out his holdings in Wachovia Corp.. His sale prices were between $16.16 and $29.52, with an estimated average price of $24. The impact to his portfolio due to this sale was less than 0.01%.
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 $40.56 billion; its shares were traded at around $18.99 with P/S ratio of 1.94. The dividend yield of Wachovia Corp. stocks is 1.3%.
Sold Out: J.C. Penney Company Inc. (JCP)
Bill Miller sold out his holdings in J.C. Penney Company Inc.. His sale prices were between $36.63 and $44.94, with an estimated average price of $40.3. The impact to his portfolio due to this sale was less than 0.01%.
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 $9.61 billion; its shares were traded at around $43.29 with a P/E ratio of 10.40 and P/S ratio of 0.46. The dividend yield of J.C. Penney Company Inc. stocks is 2.1%.
