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PRIMECAP Management Buys Honeywell International Inc., C.H. Robinson Worldwide Inc., Bristow Group Inc., Sells Fluor Corp., NYMEX Holdings Inc., MBIA Inc.

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PRIMECAP Management believes successful investment decisions rests in correctly appraising the relationship between the fundamental value of a company and the market price of its stock. A company may be valuable because of its free cash flow, its assets, or both; however, a company will be a superior investment only if it is purchased at the right price. Over the past 24 years they have achieved more than 14% a year at Vanguad Primecap Fund. These are their buys and sells.

PRIMECAP Management buys Honeywell International Inc., C.H. Robinson Worldwide Inc., Bristow Group Inc., Cerner Corp., WalMart Stores Inc., BGC Partners, Delta Air Lines Inc., LoopNet Inc., Arris Group Inc, Rex Energy Corp., sells Fluor Corp., NYMEX Holdings Inc., MBIA Inc., IngersollRand Company Ltd., Indymac Bancorp Inc., Pfizer Inc, Embarq Corp., Citadel Broadcasting Corp., eSpeed Inc., Transocean Inc., DreamWorks Animation SKG Inc., WJ Communications Inc., NETEZZA Corp., News Corp., Paychex Inc. during the 3-months ended 06/30/2008, according to the most recent filings of his investment company, . PRIMECAP Management owns 258 stocks with a total value of $60.8 billion. These are the details of the buys and sells.

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

Added: Eli Lilly and Company (LLY)

PRIMECAP Management added to his holdings in Eli Lilly and Company by 17.67%. His purchase prices were between $45.17 and $51.28, with an estimated average price of $48.3. The impact to his portfolio due to this purchase was 0.62%. His holdings were 54,516,002 shares as of 06/30/2008.

Eli Lilly and Company discovers develops manufactures and sells products in one significant business segment -pharmaceutical products. The company directs its research efforts primarily toward the search for products to diagnose prevent and treat human diseases. The company also conducts research to find products to treat diseases in animals and to increase the efficiency of animal food production. Eli Lilly and Company has a market cap of $53.13 billion; its shares were traded at around $46.46 with a P/E ratio of 13.42 and P/S ratio of 2.68. The dividend yield of Eli Lilly and Company stocks is 4%.

Added: Amgen Inc. (AMGN)

PRIMECAP Management added to his holdings in Amgen Inc. by 18.86%. 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 0.39%. His holdings were 32,032,391 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 $65.7 billion; its shares were traded at around $60.51 with a P/E ratio of 21.71 and P/S ratio of 4.35.

Added: Union Pacific Corp. (UNP)

PRIMECAP Management added to his holdings in Union Pacific Corp. by 111.23%. His purchase prices were between $64.71 and $81.81, with an estimated average price of $73.2. The impact to his portfolio due to this purchase was 0.31%. His holdings were 4,761,996 shares as of 06/30/2008.

Union Pacific Corp. consists of one reportable segment rail transportation and the company's other product lines. The railsegment includes the operations of the corporation's wholly owned subsidiary Union Pacific Railroad Company and Union Pacific Railroad Company's subsidiaries and rail affiliates. The company's other operations include the trucking product line as well as the other product lines that include technology self-insurance activities corporate holding company operations and all appropriate consolidating entries. Union Pacific Corp. has a market cap of $40.8 billion; its shares were traded at around $70.78 with a P/E ratio of 19.42 and P/S ratio of 2.27. The dividend yield of Union Pacific Corp. stocks is 1.3%.

Added: LM Ericsson Telephone Company (ERIC)

PRIMECAP Management added to his holdings in LM Ericsson Telephone Company by 106.86%. His purchase prices were between $9.59 and $13.77, with an estimated average price of $11.8. The impact to his portfolio due to this purchase was 0.25%. His holdings were 28,638,258 shares as of 06/30/2008.

Ericsson is a world-leading supplier in the fast-growing and dynamic telecommunications and data communications industry offering advanced communications solutions for mobile and fixed networks as well as consumer products. The company is a total solutions supplier for all customer segments: network operators and service providers enterprises and consumers. The company has the world's largest customer base in the telecommunications field. LM Ericsson Telephone Company has a market cap of $ million; its shares were traded at around $10.26 . The dividend yield of LM Ericsson Telephone Company stocks is 2.58%.

Added: NVIDIA Corp. (NVDA)

PRIMECAP Management added to his holdings in NVIDIA Corp. by 33.5%. His purchase prices were between $18.53 and $24.7, with an estimated average price of $21.4. The impact to his portfolio due to this purchase was 0.21%. His holdings were 27,150,724 shares as of 06/30/2008.

NVIDIA Corporation designs develops and markets a `top-to-bottom` family of award-winning 3D graphics processors graphics processing units and related software that set the standard for performance quality and features for every type of desktop personal computer user from professional workstations to low-cost computers. NVIDIA Corporation's 3D graphics processors are used in a wide variety of applications including games the Internet and industrial design. NVIDIA Corp. has a market cap of $6.02 billion; its shares were traded at around $10.81 with a P/E ratio of 11.88 and P/S ratio of 1.38.

Added: Novartis AG (NVS)

PRIMECAP Management added to his holdings in Novartis AG by 6.44%. His purchase prices were between $47.48 and $53.42, with an estimated average price of $51.1. The impact to his portfolio due to this purchase was 0.2%. His holdings were 36,707,530 shares as of 06/30/2008.

Novartis AG is committed to improving health and well-being through innovative products and services. The company aspires to capture and hold a leadership position in all of their businesses with a strong sustainable performance based on continuous innovation. Their long-term success is founded on meeting the expectations of all our stakeholders - their customers their people their shareholders and the communities in which they live and work. Novartis AG has a market cap of $121.15 billion; its shares were traded at around $52.7 with a P/E ratio of 9.95 and P/S ratio of 2.90. The dividend yield of Novartis AG stocks is 2.6%.

Added: Medtronic Inc. (MDT)

PRIMECAP Management added to his holdings in Medtronic Inc. by 6.38%. 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 0.19%. His holdings were 37,874,949 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 $60.75 billion; its shares were traded at around $53.93 with a P/E ratio of 26.56 and P/S ratio of 4.32. The dividend yield of Medtronic Inc. stocks is 1.4%.

Added: Genentech Inc. (DNA)

PRIMECAP Management added to his holdings in Genentech Inc. by 102.72%. His purchase prices were between $67.24 and $79.73, with an estimated average price of $72.4. The impact to his portfolio due to this purchase was 0.19%. His holdings were 2,949,486 shares as of 06/30/2008.

Genentech Inc. is a leading biotechnology company that discovers develops manufactures and commercializes biotherapeutics for significant unmet medical needs. A considerable number of the currently approved biotechnology products originated from or are based on Genentech science. Genentech manufactures and commercializes multiple biotechnology products and licenses several additional products to other companies. Genentech's mission is to be the leading biotechnology company using human genetic information to develop novel medicines for serious and life-threatening diseases. Genentech Inc. has a market cap of $101.02 billion; its shares were traded at around $94.25 with a P/E ratio of 33.13 and P/S ratio of 8.17.

Added: Boston Scientific Corp. (BSX)

PRIMECAP Management added to his holdings in Boston Scientific Corp. by 15.42%. His purchase prices were between $12.23 and $14.11, with an estimated average price of $13.1. The impact to his portfolio due to this purchase was 0.19%. His holdings were 71,377,961 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 $18.98 billion; its shares were traded at around $12.4 with P/S ratio of 2.25.

Added: Texas Instruments Inc. (TXN)

PRIMECAP Management added to his holdings in Texas Instruments Inc. by 7.58%. His purchase prices were between $28.39 and $32.34, with an estimated average price of $30.1. The impact to his portfolio due to this purchase was 0.16%. His holdings were 49,333,249 shares as of 06/30/2008.

Texas Instruments Inc. is a global semiconductor company and one of the world's leading designers and suppliers of digital signal processors and analog integrated circuits the engines driving the digitization of electronics. These two types of semiconductor products work together in digital electronic devices such as digital cellular phones. Other semiconductor products include standard logic application- specific integrated circuits reduced instruction-set computing microprocessors microcontrollers and digital imaging devices. Texas Instruments Inc. has a market cap of $28.64 billion; its shares were traded at around $21.71 with a P/E ratio of 10.87 and P/S ratio of 2.06. The dividend yield of Texas Instruments Inc. stocks is 1.6%.

Added: Microsoft Corp. (MSFT)

PRIMECAP Management added to his holdings in Microsoft Corp. by 8.35%. His purchase prices were between $27.38 and $29.87, with an estimated average price of $28.7. The impact to his portfolio due to this purchase was 0.15%. His holdings were 43,760,463 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 $241.4 billion; its shares were traded at around $26.1 with a P/E ratio of 14.16 and P/S ratio of 3.94. The dividend yield of Microsoft Corp. stocks is 1.61%.

Added: McDermott International Inc. (MDR)

PRIMECAP Management added to his holdings in McDermott International Inc. by 44.3%. His purchase prices were between $53.16 and $65.47, with an estimated average price of $59.6. The impact to his portfolio due to this purchase was 0.15%. His holdings were 4,858,200 shares as of 06/30/2008.

McDermott International is one of the leading worldwide energy services companies. The company's subsidiaries manufacture steam-generating equipment environmental equipment and products for the U.S. government. They also provide engineering and construction services for industrial utility and hydrocarbon processing facilities and to the offshore oil and natural gas industry. (Company Press Release) McDermott International Inc. has a market cap of $6.16 billion; its shares were traded at around $25.85 with a P/E ratio of 10.36 and P/S ratio of 0.96.

Added: HewlettPackard Company (HPQ)

PRIMECAP Management added to his holdings in HewlettPackard Company by 15.48%. His purchase prices were between $44.5 and $48.96, with an estimated average price of $46.7. The impact to his portfolio due to this purchase was 0.14%. His holdings were 13,836,996 shares as of 06/30/2008.

Hewlett Packard is one of the leading global providers of computing and imaging solutions and services for business and home. The company is focused on capitalizing on the opportunities of the Internet and the proliferation of electronic services. Its major businesses include Imaging and Printing Systems Computing Systems and Information Technology Services HewlettPackard Company has a market cap of $114.52 billion; its shares were traded at around $46.01 with a P/E ratio of 14.49 and P/S ratio of 1.00. The dividend yield of HewlettPackard Company stocks is 0.7%.

Added: The Walt Disney Company Disney (DIS)

PRIMECAP Management added to his holdings in The Walt Disney Company Disney by 26.04%. His purchase prices were between $30.18 and $34.91, with an estimated average price of $32.7. The impact to his portfolio due to this purchase was 0.12%. His holdings were 11,096,369 shares as of 06/30/2008.

Walt Disney Company owns 100% of Disney Enterprises Inc. whichtogether with its subsidiaries is a diversified worldwide entertainmentcompany with operations in five business segments: Media Networks StudioEntertainment Theme Parks and Resorts Consumer Products and Internet andDirect Marketing. The Walt Disney Company Disney has a market cap of $61.49 billion; its shares were traded at around $32.43 with a P/E ratio of 14.21 and P/S ratio of 1.63. The dividend yield of The Walt Disney Company Disney stocks is 1.1%.

Added: Whirlpool Corp. (WHR)

PRIMECAP Management added to his holdings in Whirlpool Corp. by 12.08%. His purchase prices were between $63.42 and $90.18, with an estimated average price of $73.8. The impact to his portfolio due to this purchase was 0.12%. His holdings were 11,009,047 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 $6.47 billion; its shares were traded at around $83.99 with a P/E ratio of 11.87 and P/S ratio of 0.31. The dividend yield of Whirlpool Corp. stocks is 2.1%.

Added: Cree Inc. (CREE)

PRIMECAP Management added to his holdings in Cree Inc. by 59.29%. His purchase prices were between $23.62 and $30.63, with an estimated average price of $26.1. The impact to his portfolio due to this purchase was 0.12%. His holdings were 8,638,903 shares as of 06/30/2008.

Cree Inc. is a market-leading innovator and manufacturer of semiconductors that enhance the value of solid-state lighting power and communications products by significantly increasing their energy performance and efficiency. Key to Cree's market advantage is its world-class materials expertise in silicon carbide and gallium nitride for chips and packaged devices that can handle more power in a smaller space while producing less heat than other available technologies materials and products. Cree drives its increased performance technology into multiple applications including exciting alternatives in brighter and more-tunable light for general illumination backlighting for more-vivid displays optimized power management for high-current switch-mode power supplies and variable-speed motors and more-effective wireless infrastructure for data and voice communications. Cree customers range from innovative lighting-fixtures makers to defense-related federal agencies. Cree Inc. has a market cap of $1.78 billion; its shares were traded at around $21 with a P/E ratio of 53.29 and P/S ratio of 3.75.

Added: Vulcan Materials Company (VMC)

PRIMECAP Management added to his holdings in Vulcan Materials Company by 72.66%. His purchase prices were between $60.12 and $76.48, with an estimated average price of $69.3. The impact to his portfolio due to this purchase was 0.11%. His holdings were 2,773,096 shares as of 06/30/2008.

Vulcan Materials Company is the nation's foremost producer of constructionaggregates a major producer of other construction materials and a leadingchemicals manufacturer supplying chloralkali and other industrial andspecialty chemicals. They lead the nation in the production of construction aggregates; primarily crushed stone sand and gravel. They are also a leader in the production of other construction materials as well as a major manufacturer of chemicals. Vulcan Materials Company has a market cap of $8.03 billion; its shares were traded at around $73.33 with a P/E ratio of 20.62 and P/S ratio of 2.24. The dividend yield of Vulcan Materials Company stocks is 2.6%.

Added: Marsh & McLennan Companies Inc. (MMC)

PRIMECAP Management added to his holdings in Marsh & McLennan Companies Inc. by 11.48%. His purchase prices were between $25.07 and $28.52, with an estimated average price of $26.8. The impact to his portfolio due to this purchase was 0.1%. His holdings were 22,704,008 shares as of 06/30/2008.

Marsh & McLennan is primarily a holding company which through its subsidiaries and affiliates provides clients with analysis advice and transactional capabilities in the fields of risk and insurance services investment management and consulting. MMC Enterprise Risk provides advanced risk consulting services and transactional solutions on enterprise. MMC CAPITAL is a global private equity firm that invests in industries where MMC possesses specialized knowledge and proprietary deal flow. Marsh & McLennan Companies Inc. has a market cap of $16.57 billion; its shares were traded at around $32.14 with a P/E ratio of 8.97 and P/S ratio of 1.39. The dividend yield of Marsh & McLennan Companies Inc. stocks is 2.5%.

Added: EMC Corp. (EMC)

PRIMECAP Management added to his holdings in EMC Corp. by 9.92%. His purchase prices were between $14.77 and $17.72, with an estimated average price of $16.1. The impact to his portfolio due to this purchase was 0.1%. His holdings were 43,707,470 shares as of 06/30/2008.

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 $28.99 billion; its shares were traded at around $13.67 with a P/E ratio of 18.16 and P/S ratio of 1.98.

Added: CarMax Inc. (KMX)

PRIMECAP Management added to his holdings in CarMax Inc. by 21.25%. His purchase prices were between $14.85 and $21.31, with an estimated average price of $19.3. The impact to his portfolio due to this purchase was 0.08%. His holdings were 18,268,768 shares as of 06/30/2008.

CarMax Group is a subsidiary of Circuit City Stores Inc. The company is one of the nation's largest retailers of brand-name consumer electronics and major appliances and a leading retailer of personal computers and music software. The company is adding value to this industry with a consumer offer that includes extraordinary selection; everyday low prices marked clearly on every car; quality gaurantees; and exceptional customer service. (PRESS RELEASE) CarMax Inc. has a market cap of $3.47 billion; its shares were traded at around $16.03 with a P/E ratio of 23.76 and P/S ratio of 0.42.

Added: Oceaneering International Inc. (OII)

PRIMECAP Management added to his holdings in Oceaneering International Inc. by 152.39%. His purchase prices were between $61.47 and $79.48, with an estimated average price of $71.4. The impact to his portfolio due to this purchase was 0.07%. His holdings were 851,300 shares as of 06/30/2008.

OCEANEERING INTERNATIONAL INC. is an advanced applied technology company that provides engineered services and hardware to customers who operate in marine space and other harsh environments. The company supplies a comprehensive range of integrated technical services to a wide array of industries and is one of the world's largest underwater services contractors. Oceaneering International Inc. has a market cap of $3.04 billion; its shares were traded at around $51.94 with a P/E ratio of 15.94 and P/S ratio of 1.51.

Added: SanDisk Corp. (SNDK)

PRIMECAP Management added to his holdings in SanDisk Corp. by 105.3%. His purchase prices were between $19.23 and $32.44, with an estimated average price of $26.6. The impact to his portfolio due to this purchase was 0.07%. His holdings were 4,136,362 shares as of 06/30/2008.

Sandisk Corporation designs manufactures and markets flash memory storage products that are used in a wide variety of electronic systems. The company have designed flash memory storage solutions to address the storage requirements of emerging applications in the consumer electronics and industrial/communications markets. Its products are used in a number of rapidly growing consumer electronics applications such as digital cameras personal digital assistants portable digital music playersdigital video recorders and smart phones. SanDisk Corp. has a market cap of $3.53 billion; its shares were traded at around $15.4 with a P/E ratio of 25.66 and P/S ratio of 0.88.

Added: American International Group Inc. (AIG)

PRIMECAP Management added to his holdings in American International Group Inc. by 22.28%. His purchase prices were between $27.47 and $48.28, with an estimated average price of $39.2. The impact to his portfolio due to this purchase was 0.06%. His holdings were 7,585,723 shares as of 06/30/2008.

American International Group Inc. world leaders in insurance and financial services is the leading international insurance organization with operations in more than one hundred thirty countries and jurisdictions. AIG companies serve commercial institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition AIG companies are leading providers of retirement services financial services and asset management around the world. American International Group Inc. has a market cap of $47.05 billion; its shares were traded at around $18.37 with P/S ratio of 0.60. The dividend yield of American International Group Inc. stocks is 4.1%.

Added: Best Buy Co. Inc. (BBY)

PRIMECAP Management added to his holdings in Best Buy Co. Inc. by 25.32%. His purchase prices were between $39.92 and $46.54, with an estimated average price of $43.4. The impact to his portfolio due to this purchase was 0.06%. His holdings were 4,232,800 shares as of 06/30/2008.

Best Buy operates in a single business segment selling personal computers and other home office products consumer electronics entertainment software major appliances and related accessories principally through its retail stores. They operate retail stores and commercial Websites under the brand names Best Buy Media Play On Cue Sam Goody Suncoast Magnolia Hi-Fi and Future Shop. They also operate in three segments: Best Buy Musicland and International. Best Buy Co. Inc. has a market cap of $18.62 billion; its shares were traded at around $44.8 with a P/E ratio of 14.08 and P/S ratio of 0.45. The dividend yield of Best Buy Co. Inc. stocks is 1.3%.

Added: FreeportMcMoRan Copper & Gold Inc. (FCX)

PRIMECAP Management added to his holdings in FreeportMcMoRan Copper & Gold Inc. by 22.97%. His purchase prices were between $105.77 and $123.67, with an estimated average price of $114.8. The impact to his portfolio due to this purchase was 0.05%. His holdings were 1,284,914 shares as of 06/30/2008.

Freeport-McMoRan is engaged in mineral exploration and development mining and milling of copper gold and silver in Indonesia and the smelting and refining of copper concentrates in Spain and Indonesia. They are the world's lowest-cost copper producer and one of the world's largest producers of copper and gold. FCX's operations are conducted through its subsidiaries P.T. Freeport Indonesia (PT-FI) P.T. IRJA Eastern Minerals Corporation (Eastern Mining) and through Atlantic Copper S.A. (Atlantic). FreeportMcMoRan Copper & Gold Inc. has a market cap of $26.56 billion; its shares were traded at around $65.16 with a P/E ratio of 8.83 and P/S ratio of 1.23. The dividend yield of FreeportMcMoRan Copper & Gold Inc. stocks is 2%.

Added: Xilinx Inc. (XLNX)

PRIMECAP Management added to his holdings in Xilinx Inc. by 102.67%. His purchase prices were between $23.67 and $27.32, with an estimated average price of $25.7. The impact to his portfolio due to this purchase was 0.04%. His holdings were 1,586,100 shares as of 06/30/2008.

Xilinx Inc. designs develops and markets complete programmable logic solutions including advanced integrated circuits software design tools predefined system functions delivered as cores of logic and field engineering support. Its programmable logic devices include field programmable gate arrays and complex programmable logic devices. These devices are standard products that its customers program to perform desired logic functions. Xilinx Inc. has a market cap of $6.38 billion; its shares were traded at around $23.03 with a P/E ratio of 18.09 and P/S ratio of 3.38. The dividend yield of Xilinx Inc. stocks is 2.16%.

Added: Rohm and Haas Company (ROH)

PRIMECAP Management added to his holdings in Rohm and Haas Company by 114.65%. His purchase prices were between $47.14 and $59.28, with an estimated average price of $53.5. The impact to his portfolio due to this purchase was 0.04%. His holdings were 900,900 shares as of 06/30/2008.

Rohm & Haas Co. is a specialty chemical company. Rohm and Haas technology is found in paints and coatings adhesives and sealants household products personal computers and electronic components and construction materials. It also helps bring food to the table -- fruits and vegetables -- and salt an essential ingredient for life. In addition to serving the specialty crop market Rohm and Haas offers a wide range of turf and ornamental products designed for use by golf course and lawn care professionals. (Company Press Release) Rohm and Haas Company has a market cap of $14.51 billion; its shares were traded at around $75 with a P/E ratio of 23.89 and P/S ratio of 1.51. The dividend yield of Rohm and Haas Company stocks is 2.2%.

Added: Patriot Coal Corp. (PCX)

PRIMECAP Management added to his holdings in Patriot Coal Corp. by 82.11%. His purchase prices were between $28.2 and $75.31, with an estimated average price of $48.9. The impact to his portfolio due to this purchase was 0.04%. His holdings were 727,960 shares as of 06/30/2008.

PATRIOT COAL CORPORATION is a leading producer and marketer of coal in the Eastern United States with eight company-operated mines two joint venture mines and numerous contractor-operated mines in Appalachia and the Illinois Basin. The company ships to electric utilities industrial users and metallurgical coal customers. The company's common stock trades on the New York Stock Exchange under the symbol PCX. Patriot Coal Corp. has a market cap of $2.68 billion; its shares were traded at around $32.96 with P/S ratio of 2.18.

Added: Canadian Pacific Railway Ltd. (CP)

PRIMECAP Management added to his holdings in Canadian Pacific Railway Ltd. by 45.64%. His purchase prices were between $64.06 and $72.98, with an estimated average price of $68.8. The impact to his portfolio due to this purchase was 0.04%. His holdings were 1,315,330 shares as of 06/30/2008.

Canadian Pacific Railway is North America's first transcontinental railway and is the only transcontinental carrier with direct service to the U.S. Eastern Seaboard. Canadian Pacific Railway Ltd. has a market cap of $8.71 billion; its shares were traded at around $56.03 with a P/E ratio of 11.62 and P/S ratio of 1.94. The dividend yield of Canadian Pacific Railway Ltd. stocks is 1.6%.

Added: Flextronics International Ltd. (FLEX)

PRIMECAP Management added to his holdings in Flextronics International Ltd. by 57.99%. His purchase prices were between $9.34 and $11.01, with an estimated average price of $10.3. The impact to his portfolio due to this purchase was 0.04%. His holdings were 6,286,954 shares as of 06/30/2008.

Flextronic International is a leading provider of advanced electronics manufacturing services to OEMs primarily in the telecommunications and networking consumer electronics and computer industries. The company's strategy is to provide customers with the ability to outsource on a global basis a complete product wherethe company's take responsibility for engineering supply chain management assembly integration test andlogistics management. The company provides complete product design services including electrical and mechanical circuit and layout. Flextronics International Ltd. has a market cap of $6.72 billion; its shares were traded at around $8.06 with P/S ratio of 0.22.

Added: Kinetic Concepts Inc. (KCI)

PRIMECAP Management added to his holdings in Kinetic Concepts Inc. by 284.44%. His purchase prices were between $38.05 and $47.02, with an estimated average price of $41.4. The impact to his portfolio due to this purchase was 0.04%. His holdings were 692,000 shares as of 06/30/2008.

Kinetic Concepts Inc. is a global medical technology company with leadership positions in advanced wound care and therapeutic surfaces. Kinetic Concepts Inc. has a market cap of $2.43 billion; its shares were traded at around $33.74 with a P/E ratio of 12.65 and P/S ratio of 1.42.

Added: Canadian National Railway Company Fully (CNI)

PRIMECAP Management added to his holdings in Canadian National Railway Company Fully by 22.55%. His purchase prices were between $47.74 and $56.37, with an estimated average price of $52.1. The impact to his portfolio due to this purchase was 0.03%. His holdings were 2,012,923 shares as of 06/30/2008.

Canadian National Railway Company a Canadian corporation operates the larger of Canada's two principal railroads and the only coast-to-coast railroad network in North America. The company's rail network serves major ports in Canada and includes strategic connections to the United States through the Chicago gateway Detroit and other major cities. Canadian National Railway Company Fully has a market cap of $24.32 billion; its shares were traded at around $50.02 with a P/E ratio of 12.96 and P/S ratio of 3.16. The dividend yield of Canadian National Railway Company Fully stocks is 1.7%.

Added: Chicago Bridge & Iron Company N.V. (CBI)

PRIMECAP Management added to his holdings in Chicago Bridge & Iron Company N.V. by 146.25%. His purchase prices were between $39.35 and $47.59, with an estimated average price of $43.5. The impact to his portfolio due to this purchase was 0.03%. His holdings were 729,631 shares as of 06/30/2008.

Chicago Bridge & Iron Company N.V. designs builds repairs and modifies steel tanks and other steel plate structures and associated systems. The Company designs and builds petroleum terminals refinery pressure vessels low temperature and cryogenic storage facilities and elevated water storage tanks for clients internationally. Chicago Bridge & Iron Company N.V. has a market cap of $2.28 billion; its shares were traded at around $23.42 with a P/E ratio of 492.92 and P/S ratio of 0.42. The dividend yield of Chicago Bridge & Iron Company N.V. stocks is 0.5%.

Added: The Procter & Gamble Company (PG)

PRIMECAP Management added to his holdings in The Procter & Gamble Company by 627.27%. His purchase prices were between $60.11 and $69.76, with an estimated average price of $65.7. The impact to his portfolio due to this purchase was 0.02%. His holdings were 160,000 shares as of 06/30/2008.

The Procter & Gamble Company manufactures and markets a broad range of consumer products in many countries throughout the world. Products fall into five business segments: fabric and home care paper beauty care health care and food and beverage. Today P&G markets more than 250 products to more than five billion consumers in 130 countries. The Procter & Gamble Company has a market cap of $219.65 billion; its shares were traded at around $71.89 with a P/E ratio of 19.88 and P/S ratio of 2.61. The dividend yield of The Procter & Gamble Company stocks is 2.3%.

Added: Jabil Circuit Inc. (JBL)

PRIMECAP Management added to his holdings in Jabil Circuit Inc. by 37.36%. His purchase prices were between $9.7 and $16.15, with an estimated average price of $12.1. The impact to his portfolio due to this purchase was 0.01%. His holdings were 557,800 shares as of 06/30/2008.

Jabil Circuit Inc. is a worldwide independent provider of electronic manufacturing services. It designs and manufactures electronic circuit board assemblies and systems for major original equipment manufacturers in the communications computer peripherals personal computer automotive and consumer products industries. It serves its original equipment manufacturer customers with dedicated work cell business units that combine high volume highly automated continuous flow manufacturing with advanced electronic design and design for manufacturability technologies. Jabil Circuit Inc. has a market cap of $2.69 billion; its shares were traded at around $12.43 with a P/E ratio of 30.07 and P/S ratio of 0.21. The dividend yield of Jabil Circuit Inc. stocks is 1.7%.

Added: Gentex Corp. (GNTX)

PRIMECAP Management added to his holdings in Gentex Corp. by 28.61%. His purchase prices were between $14.78 and $18.85, with an estimated average price of $17.1. The impact to his portfolio due to this purchase was 0.01%. His holdings were 1,722,100 shares as of 06/30/2008.

Gentex Corporation is an international company that provides high-quality products to the worldwide automotive industry and North American fire protection market. The Company develops manufactures and markets proprietary electro-optic products including interior and exterior electrochromic automatic-dimming Night Vision Safety automotive rearview mirrors that dim in proportion to the amount of headlight glare from trailing vehicle headlamps and an extensive line of fire protection products for commercial applications. Gentex Corp. has a market cap of $2.32 billion; its shares were traded at around $16.24 with a P/E ratio of 19.77 and P/S ratio of 3.38. The dividend yield of Gentex Corp. stocks is 2.64%.

Added: Viacom Inc. (VIA)

PRIMECAP Management added to his holdings in Viacom Inc. by 56.93%. His purchase prices were between $30.61 and $40.45, with an estimated average price of $37.1. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 27,565 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 $ million; its shares were traded at around $27.6 . The dividend yield of Viacom Inc. stocks is 0.9%.

Added: OraSure Technologies Inc. (OSUR)

PRIMECAP Management added to his holdings in OraSure Technologies Inc. by 276%. His purchase prices were between $3.95 and $7.55, with an estimated average price of $5.8. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 94,000 shares as of 06/30/2008.

OraSure Technologies Inc. is the market leader for oral fluid diagnostics. The Company develops manufactures and markets medical devices and diagnostic products for use by insurance companies public health agencies clinical laboratories physicians' offices and workplace sites. OraSure Technologies Inc. has a market cap of $234.26 million; its shares were traded at around $4.87 with P/S ratio of 2.92.

Added: Pitney Bowes Inc. (PBI)

PRIMECAP Management added to his holdings in Pitney Bowes Inc. by 22.79%. His purchase prices were between $33.46 and $37.76, with an estimated average price of $35.6. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 26,400 shares as of 06/30/2008.

Pitney Bowes Inc. operates in three reportable segments: Mailing and Integrated Logistics Office Solutions and Capital Services. The company operates in the United States and outside the U.S. Mailing and Integrated Logistics includes revenues from the rental of postage meters and the sale and financing of mailing equipment. Office Solutions includes revenues from the sale financing rental and service of reprographic and facsimile equipment. Capital Services provides large-ticket financing and fee-based programs covering a broad range of products and other financial services. Pitney Bowes Inc. has a market cap of $7.44 billion; its shares were traded at around $36.07 with a P/E ratio of 24.32 and P/S ratio of 1.18. The dividend yield of Pitney Bowes Inc. stocks is 4.1%.

Added: KBW Inc. (KBW)

PRIMECAP Management added to his holdings in KBW Inc. by 27.47%. His purchase prices were between $20.93 and $26.83, with an estimated average price of $23.7. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 11,600 shares as of 06/30/2008.

KBW INC. through its subsidiaries Keefe Bruyette & Woods Inc. Keefe Bruyette & Woods Limited and KBW Asset Management is a full service investment bank specializing in the North American and European financial services sectors. The firm is widely recognized as a leading authority in the banking insurance brokerage asset management mortgage banking REIT and specialty finance sectors. KBW Inc. has a market cap of $906.01 million; its shares were traded at around $28.1 with P/S ratio of 2.74. The dividend yield of KBW Inc. stocks is 5.6%.

Added: ABIOMED Inc. (ABMD)

PRIMECAP Management added to his holdings in ABIOMED Inc. by 27.89%. His purchase prices were between $13.39 and $18.61, with an estimated average price of $15.6. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 586,000 shares as of 06/30/2008.

Abiomed Inc. is a developer manufacturer and marketer of medical products designed to safely and effectively assist or replace the pumpingfunction of the failing heart. The company currently manufactures and sells the BVS-5000 a temporary heart assist device which is approved by the U.S. Food and Drug Administration for the temporary treatment of all patients with failing but potentially recoverable hearts. The company is also engaged in research and development relating to other devices to support the pumping function of the heart. ABIOMED Inc. has a market cap of $587.58 million; its shares were traded at around $16.31 with P/S ratio of 8.98.

Added: Cummins Inc. (CMI)

PRIMECAP Management added to his holdings in Cummins Inc. by 86.67%. His purchase prices were between $47.99 and $72.83, with an estimated average price of $63.7. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 11,200 shares as of 06/30/2008.

Cummins Inc. is one of the leading worldwide designers and manufacturers of diesel engines. The company also produces natural gas engines and engine components and subsystems. Cummins provides power and components for a wide variety of equipment in its key businesses: engine power generation and filtration. Cummins Inc. has a market cap of $11.48 billion; its shares were traded at around $53.49 with a P/E ratio of 12.93 and P/S ratio of 0.76. The dividend yield of Cummins Inc. stocks is 1.1%.

Added: Illumina Inc. (ILMN)

PRIMECAP Management added to his holdings in Illumina Inc. by 100%. His purchase prices were between $73.29 and $86.79, with an estimated average price of $79. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 14,000 shares as of 06/30/2008.

Illumina Inc. is a leading developer of next-generation tools for the large-scale analysis of genetic variation and function. The company's tools will provide information that could be used to improve drugs and therapies customize diagnoses and treatment and cure disease. The company is developing a comprehensive line of products that can address the scale of experimentation and the breadth of functional analysis required to achieve the goals of molecular medicine. Illumina Inc. has a market cap of $4.72 billion; its shares were traded at around $82.21 with a P/E ratio of 126.08 and P/S ratio of 9.95.

Added: MF Global Ltd. (MF)

PRIMECAP Management added to his holdings in MF Global Ltd. by 39.01%. His purchase prices were between $6.39 and $14.55, with an estimated average price of $12.4. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 145,400 shares as of 06/30/2008.

MF Global Ltd. formerly Man Financial is the leading broker of exchange-listed futures and options in the world. It provides execution and clearing services for exchange-traded and over-the-counter derivative products as well as for non-derivative foreign exchange products and securities in the cash market. MF Global Ltd. has a market cap of $835.53 million; its shares were traded at around $6.49 with P/S ratio of 0.28.

New Purchase: Honeywell International Inc. (HON)

PRIMECAP Management initiated holdings in Honeywell International Inc.. His purchase prices were between $48.96 and $61.48, with an estimated average price of $57.3. The impact to his portfolio due to this purchase was 0.47%. His holdings were 5,670,600 shares as of 06/30/2008.

Honeywell International is a diversified technology and manufacturing company serving customers worldwide with aerospace products and services control technologies for buildings homes and industry automotive products power generation systems specialty chemicals fibers plastics and electronic and advanced materials. Its operations are conducted by strategic business units which have been aggregated under four reportable segments: Aerospace Solutions Automation & Asset Management Performance Materials and Power & Transportation Products. Honeywell International Inc. has a market cap of $35.41 billion; its shares were traded at around $47.16 with a P/E ratio of 13.44 and P/S ratio of 0.96. The dividend yield of Honeywell International Inc. stocks is 2.2%.

New Purchase: C.H. Robinson Worldwide Inc. (CHRW)

PRIMECAP Management initiated holdings in C.H. Robinson Worldwide Inc.. His purchase prices were between $55.03 and $64.95, with an estimated average price of $60.7. The impact to his portfolio due to this purchase was 0.08%. His holdings were 918,900 shares as of 06/30/2008.

C.H. Robinson Worldwide Inc. is one of the largest third-party logistics companies in North America. C.H. Robinson is a global provider of multimodal transportation services and logistics solutions operating through a network of offices in North America South America and Europe. C.H. Robinson maintains the single largest network of motor carrier capacity in North America through contracts with motor carriers and is one of the largest third-party providers of intermodal services in the United States. (PRESS RELEASE) C.H. Robinson Worldwide Inc. has a market cap of $9.01 billion; its shares were traded at around $50.85 with a P/E ratio of 26.60 and P/S ratio of 1.06. The dividend yield of C.H. Robinson Worldwide Inc. stocks is 1.69%.

New Purchase: Bristow Group Inc. (BRS)

PRIMECAP Management initiated holdings in Bristow Group Inc.. His purchase prices were between $48.44 and $57.8, with an estimated average price of $53. The impact to his portfolio due to this purchase was 0.04%. His holdings were 524,500 shares as of 06/30/2008.

Bristow Group Inc. is a leading provider of helicopter services to the worldwide energy industry. Through its subsidiaries affiliates and joint ventures the Company has major transportation operations in the U.S. Gulf of Mexico and the North Sea and in most of the other major offshore oil and gas producing regions of the world including Alaska Australia Brazil Mexico Nigeria Russia and Trinidad. Additionally the Company is a leading provider of production management services for oil and gas production facilities in the U.S. Gulf of Mexico. Bristow Group Inc. has a market cap of $1.06 billion; its shares were traded at around $36.09 with a P/E ratio of 10.85 and P/S ratio of 0.98.

New Purchase: Cerner Corp. (CERN)

PRIMECAP Management initiated holdings in Cerner Corp.. His purchase prices were between $38.05 and $48, with an estimated average price of $45. The impact to his portfolio due to this purchase was 0.03%. His holdings were 372,488 shares as of 06/30/2008.

Cerner Corp. designs develops markets installs and supports information technology and content solutions for healthcare organizations and consumers that are capable of being implemented on an individual combined or enterprise-wide basis and are accessible over the internet by consumers physicians and healthcare providers. Cerner's integrated suite of solutions enable healthcare providers to improve operating effectiveness reduce costs and improve the quality of care as measured byclinical outcomes. Cerner Corp. has a market cap of $3.8 billion; its shares were traded at around $46.17 with a P/E ratio of 27.15 and P/S ratio of 2.40.

New Purchase: WalMart Stores Inc. (WMT)

PRIMECAP Management initiated holdings in WalMart Stores Inc.. His purchase prices were between $53.95 and $58.94, with an estimated average price of $56.5. The impact to his portfolio due to this purchase was 0.02%. His holdings were 168,700 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 $243.99 billion; its shares were traded at around $61.13 with a P/E ratio of 18.45 and P/S ratio of 0.61. The dividend yield of WalMart Stores Inc. stocks is 1.6%.

New Purchase: LoopNet Inc. (LOOP)

PRIMECAP Management initiated holdings in LoopNet Inc.. His purchase prices were between $10.89 and $14.33, with an estimated average price of $12.5. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 34,800 shares as of 06/30/2008.

LoopNet Inc is the leading online marketplace for commercial real estate in the United States based on the number of monthly unique visitors to our marketplace. Its online marketplace enables commercial real estate agents working on behalf of property owners and landlords to list properties for sale or for lease by submitting detailed property listing information in order to find a buyer or tenant. Commercial real estate brokers agents buyers and tenants use the LoopNet online marketplace to search for available property listings that meet their commercial real estate criteria. By connecting the sources of commercial real estate supply and demand in an efficient manner we believe that LoopNet enables commercial real estate participants to initiate and complete more transactions more cost-effectively than through other means. LoopNet also delivers technology and information services to commercial real estate organizations to manage their online listing presence and optim LoopNet Inc. has a market cap of $373.77 million; its shares were traded at around $10.48 with a P/E ratio of 19.87 and P/S ratio of 4.61.

New Purchase: Arris Group Inc (ARRS)

PRIMECAP Management initiated holdings in Arris Group Inc. His purchase prices were between $6.12 and $10.13, with an estimated average price of $8.1. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 30,000 shares as of 06/30/2008.

Arris Group Inc. is an international communications technology company serving the broadband information transport industries. Arris specializes in the manufacturing and distribution of products for hybrid fiber coax broadband networks as well as the design and engineering of these networks. Arris Group Inc has a market cap of $1.14 billion; its shares were traded at around $8.83 with a P/E ratio of 21.51 and P/S ratio of 1.02.

New Purchase: BGC Partners (BGCP)

PRIMECAP Management initiated holdings in BGC Partners. His purchase prices were between $7.37 and $12.08, with an estimated average price of $9.5. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 132,000 shares as of 06/30/2008.

BGC PARTNERS INC. is a leading global full-service inter-dealer broker specializing in the trading of financial instruments and related derivatives products. BGC Partners provides integrated voice hybrid and fully electronic execution and other brokerage services to some of the world?s largest and most credit worthy banks broker-dealers investment banks and investment firms for a broad range of global financial products including fixed income securities foreign exchange equity derivatives credit derivatives futures structured products and other instruments. Through its eSpeed and BGCantor Market Data brands BGC also offers financial technology solutions and market data and analytics related to selected financial instruments and markets. Named after fixed income trading innovator B. Gerald Cantor BGC Partners has offices in New York and London as well as in Beijing Chicago Copenhagen Hong Kong Istanbul Mexico City Nyon Paris Seoul Singapore Sydney Toky BGC Partners has a market cap of $451.91 million; its shares were traded at around $5.47 with P/S ratio of 1.74.

New Purchase: Rex Energy Corp. (REXX)

PRIMECAP Management initiated holdings in Rex Energy Corp.. His purchase prices were between $17.39 and $28.06, with an estimated average price of $23.4. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 10,100 shares as of 06/30/2008.

Rex Energy Corporation is an independent oil and gas company operating in the Illinois Basin the Appalachian Basin and the southwestern region of the United States. The Company pursues a balanced growth strategy of exploiting its sizable inventory of lower-risk developmental drilling locations pursuing its higher-potential exploration drilling and enhanced oil recovery projects and actively seeking to acquire complementary oil and natural gas properties. Rex Energy Corp. has a market cap of $537.56 million; its shares were traded at around $13.93 with P/S ratio of 5.86.

New Purchase: Delta Air Lines Inc. (DAL)

PRIMECAP Management initiated holdings in Delta Air Lines Inc.. His purchase prices were between $5.32 and $10.01, with an estimated average price of $7.1. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 42,800 shares as of 06/30/2008.

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 $2.39 billion; its shares were traded at around $8.23 with P/S ratio of 0.12.

Reduced: Minerals Technologies Inc. (MTX)

PRIMECAP Management reduced to his holdings in Minerals Technologies Inc. by 96.6%. His sale prices were between $64.42 and $72.13, with an estimated average price of $67.9. The impact to his portfolio due to this sale was less than 0.01%. PRIMECAP Management still held 6,500 shares as of 06/30/2008.

Minerals Technologies Inc. is a resource and technology-based company that develops produces and markets on a worldwide basis a broad range of specialty mineral mineral-based and synthetic mineral products. The Company has two operating segments: Specialty Minerals and Refractories. The Specialty Minerals segment produces and sells precipitated calcium carbonate and lime and mines processes and sells the natural mineral products limestone and talc. The Refractories segment produces and markets monolithic and shaped refractory materials and services. Minerals Technologies Inc. has a market cap of $1.22 billion; its shares were traded at around $64.02 with P/S ratio of 1.08. The dividend yield of Minerals Technologies Inc. stocks is 0.3%.

Reduced: VISA INC (V)

PRIMECAP Management reduced to his holdings in VISA INC by 63.5%. 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%. PRIMECAP Management still held 7,300 shares as of 06/30/2008.

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 $53.71 billion; its shares were traded at around $67.49 with P/S ratio of 7.35. The dividend yield of VISA INC stocks is 0.6%.

Reduced: Verigy Ltd. (VRGY)

PRIMECAP Management reduced to his holdings in Verigy Ltd. by 32.14%. His sale prices were between $19.01 and $25.54, with an estimated average price of $22.5. The impact to his portfolio due to this sale was less than 0.01%. PRIMECAP Management still held 44,067 shares as of 06/30/2008.

Verigy Ltd. designs develops manufactures sells and services advanced test systems and solutions for the memory and system-on-chip segments of the semiconductor industry. Verigy's scalable platform systems are used by leading semiconductor companies worldwide in design validation characterization and high-volume manufacturing test. Verigy Ltd. has a market cap of $1.08 billion; its shares were traded at around $18.36 with a P/E ratio of 11.59 and P/S ratio of 1.44.

Reduced: Chevron Corp. (CVX)

PRIMECAP Management reduced to his holdings in Chevron Corp. by 88.63%. His sale prices were between $86.81 and $99.97, with an estimated average price of $95.1. The impact to his portfolio due to this sale was less than 0.01%. PRIMECAP Management still held 3,160 shares as of 06/30/2008.

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 $166.74 billion; its shares were traded at around $78.79 with a P/E ratio of 8.61 and P/S ratio of 0.65. The dividend yield of Chevron Corp. stocks is 3%.

Reduced: NEUTRAL TANDEM, INC. (TNDM)

PRIMECAP Management reduced to his holdings in NEUTRAL TANDEM, INC. by 20.33%. His sale prices were between $17.15 and $20.46, with an estimated average price of $18.9. The impact to his portfolio due to this sale was less than 0.01%. PRIMECAP Management still held 17,050 shares as of 06/30/2008.

The Company provides tandem interconnection services principally to competitive carriers including wireless wireline cable telephony and Voice over Internet Protocol or VoIP companies. NEUTRAL TANDEM, INC. has a market cap of $619.76 million; its shares were traded at around $19.68 with a P/E ratio of 44.26 and P/S ratio of 6.14.

Reduced: Dolby Laboratories Inc. (DLB)

PRIMECAP Management reduced to his holdings in Dolby Laboratories Inc. by 68.03%. His sale prices were between $35.7 and $48.01, with an estimated average price of $42.8. The impact to his portfolio due to this sale was less than 0.01%. PRIMECAP Management still held 9,000 shares as of 06/30/2008.

Dolby Laboratories develops and delivers products and technologies that make the entertainment experience more realistic and immersive. For nearly four decades Dolby has been at the forefront of defining high-quality audio and surround sound in cinema broadcast home audio systems cars DVDs headphones games televisions and personal computers. Based in San Francisco with headquarters in England the company has entertainment industry liaison offices in New York and Los Angeles and licensing liaison offices in London Shanghai Beijing Hong Kong and Tokyo. Dolby Laboratories Inc. has a market cap of $4.59 billion; its shares were traded at around $40.5 with a P/E ratio of 24.02 and P/S ratio of 7.50.

Reduced: Monster Worldwide Inc. (MNST)

PRIMECAP Management reduced to his holdings in Monster Worldwide Inc. by 52.29%. His sale prices were between $20.98 and $27.68, with an estimated average price of $24.2. The impact to his portfolio due to this sale was less than 0.01%. PRIMECAP Management still held 73,000 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 $2.39 billion; its shares were traded at around $19.45 with a P/E ratio of 18.33 and P/S ratio of 1.69.

Reduced: Alpha Natural Resources Inc. (ANR)

PRIMECAP Management reduced to his holdings in Alpha Natural Resources Inc. by 50%. His sale prices were between $46.66 and $102.83, with an estimated average price of $69.9. The impact to his portfolio due to this sale was less than 0.01%. PRIMECAP Management still held 5,000 shares as of 06/30/2008.

Alpha Natural Resources is a leading Central Appalachian coal producer that also has significant operations in Northern Appalachia. Their reserves primarily consist of high Btu low sulfur steam coal and metallurgical coal. They produce process and sell steam and metallurgical coal from eight regional business units supported by active underground mines active surface mines and preparation plants located throughout Virginia West Virginia Kentucky Pennsylvania and Colorado. Alpha Natural Resources Inc. has a market cap of $4.65 billion; its shares were traded at around $64.14 with a P/E ratio of 38.52 and P/S ratio of 2.00.

Reduced: Fifth Third Bancorp (FITB)

PRIMECAP Management reduced to his holdings in Fifth Third Bancorp by 30.28%. His sale prices were between $9.96 and $22.38, with an estimated average price of $18.1. The impact to his portfolio due to this sale was less than 0.01%. PRIMECAP Management still held 445,000 shares as of 06/30/2008.

Fifth Third Bancorp is a registered financial holding company and a multi-bank holding company. They engage primarily in commercial retail and trust banking data processing services investment advisory services and leasing activities. In addition the company provides credit lifeaccident health and mortgage insurance discount brokerage services andproperty management for its properties. Fifth Third Bancorp has a market cap of $8.58 billion; its shares were traded at around $15.93 with a P/E ratio of 18.80 and P/S ratio of 2.21. The dividend yield of Fifth Third Bancorp stocks is 3.8%.

Reduced: Washington Mutual Inc. (WM)

PRIMECAP Management reduced to his holdings in Washington Mutual Inc. by 56.48%. His sale prices were between $4.79 and $12.65, with an estimated average price of $9.3. The impact to his portfolio due to this sale was less than 0.01%. PRIMECAP Management still held 182,600 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 $3.94 billion; its shares were traded at around $3.3 with P/S ratio of 3.76. The dividend yield of Washington Mutual Inc. stocks is 1%.

Reduced: Sycamore Networks Inc. (SCMR)

PRIMECAP Management reduced to his holdings in Sycamore Networks Inc. by 43.55%. His sale prices were between $3.2 and $3.74, with an estimated average price of $3.4. The impact to his portfolio due to this sale was less than 0.01%. PRIMECAP Management still held 350,000 shares as of 06/30/2008.

Sycamore Networks Inc. develop and market products that transport voice and data traffic over wavelengths of light. The products are designed to enable the customers to quickly and cost effectively create usable network capacity over existing fiber and thereby to create new high speed data services. The company's customers are new and established providers of local voice and data transport services long distance carriers Internet service providers cable operators foreign telephone companies and carriers who provide services to other carriers. Sycamore Networks Inc. has a market cap of $920.87 million; its shares were traded at around $3.08 with a P/E ratio of 116.07 and P/S ratio of 6.30.

Reduced: US Airways Group Inc. (LCC)

PRIMECAP Management reduced to his holdings in US Airways Group Inc. by 28.85%. 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%. PRIMECAP Management still held 242,200 shares as of 06/30/2008.

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 $614.79 million; its shares were traded at around $7.13 with P/S ratio of 0.06.

Reduced: Isilon Systems Inc. (ISLN)

PRIMECAP Management reduced to his holdings in Isilon Systems Inc. by 30.49%. His sale prices were between $4.72 and $5.23, with an estimated average price of $4.9. The impact to his portfolio due to this sale was less than 0.01%. PRIMECAP Management still held 15,500 shares as of 06/30/2008.

ISILON SYSTEMS is the worldwide leader in clustered storage systems and software for digital content and unstructured data enabling enterprises to transform data into information -- and information into breakthroughs. Isilon's award-winning family of IQ clustered storage systems combines Isilon's OneFS? operating system software with the latest advances in industry-standard hardware to deliver modular pay-as-you-grow enterprise-class storage systems. Isilon's clustered storage solutions speed access to critical business information while dramatically reducing the cost and complexity of storing it. Isilon Systems Inc. has a market cap of $316.05 million; its shares were traded at around $4.92 with P/S ratio of 3.12.

Reduced: THQ Inc. (THQI)

PRIMECAP Management reduced to his holdings in THQ Inc. by 28.12%. His sale prices were between $18.61 and $22.22, with an estimated average price of $20.8. The impact to his portfolio due to this sale was -0.01%. PRIMECAP Management still held 1,330,300 shares as of 06/30/2008.

THQ Incorporated is a developer publisher and distributor of interactiveentertainment software for the leading hardware platforms in the home video game market. The company publishes titles for several home video game systems and personal computers in most interactive software genres including action adventure driving fighting puzzle role playing simulation sports and strategy. THQ Inc. has a market cap of $931.01 million; its shares were traded at around $13.83 with P/S ratio of 0.87.

Reduced: McAfee Inc. (MFE)

PRIMECAP Management reduced to his holdings in McAfee Inc. by 51.55%. His sale prices were between $33.28 and $36.76, with an estimated average price of $35.4. The impact to his portfolio due to this sale was -0.01%. PRIMECAP Management still held 141,000 shares as of 06/30/2008.

McAfee Inc. creates best-of-breed computer security solutions that prevent intrusions on networks and protect computer systems from the next generation of blended attacks and threats. McAfee's customers span large enterprises governments small and medium sized businesses and consumers. McAfee Inc. has a market cap of $5.62 billion; its shares were traded at around $36.68 with a P/E ratio of 39.72 and P/S ratio of 3.84.

Reduced: 3M Company (MMM)

PRIMECAP Management reduced to his holdings in 3M Company by 77.17%. His sale prices were between $69.02 and $81.79, with an estimated average price of $76.1. The impact to his portfolio due to this sale was -0.03%. PRIMECAP Management still held 313,000 shares as of 06/30/2008.

3M Company is a diversified technology company with leading positions in consumer and office; display and graphics; electronics and telecommunications; health care; industrial; safety security and protection services; transportation and other businesses. They are an integrated enterprise characterized by substantial intercompany cooperation in research manufacturing and marketing of products. 3M Company has a market cap of $48.01 billion; its shares were traded at around $69.45 with a P/E ratio of 13.23 and P/S ratio of 1.90. The dividend yield of 3M Company stocks is 2.8%.

Reduced: ConocoPhillips (COP)

PRIMECAP Management reduced to his holdings in ConocoPhillips by 82.53%. His sale prices were between $77.75 and $93.72, with an estimated average price of $87.6. The impact to his portfolio due to this sale was -0.21%. PRIMECAP Management still held 1,613,509 shares as of 06/30/2008.

ConocoPhillips is a major international integrated energy company with operations in some 49 countries. ConocoPhillips has a market cap of $109.23 billion; its shares were traded at around $68.31 with a P/E ratio of 6.52 and P/S ratio of 0.50. The dividend yield of ConocoPhillips stocks is 2.3%.

Reduced: Potash Corp. of Saskatchewan Inc. (POT)

PRIMECAP Management reduced to his holdings in Potash Corp. of Saskatchewan Inc. by 23.51%. His sale prices were between $170.72 and $229.99, with an estimated average price of $203.7. The impact to his portfolio due to this sale was -0.83%. PRIMECAP Management still held 9,364,051 shares as of 06/30/2008.

Potash Corporation of Saskatchewan Inc. is the world's largest potash company the third largest phoshate producer and the second largest nitrogen producer in the world. Behind its growing success lies a vital infrastructure: knowledgeable PCS Sales staff throughout Canada and the United States a transportation network that includes truck train barge lake ship and ocean vessel and warehouses strategically located in major consuming areas. Potash Corp. of Saskatchewan Inc. has a market cap of $43.67 billion; its shares were traded at around $140.26 with a P/E ratio of 22.23 and P/S ratio of 6.35. The dividend yield of Potash Corp. of Saskatchewan Inc. stocks is 0.2%.

Sold Out: Paychex Inc. (PAYX)

PRIMECAP Management sold out his holdings in Paychex Inc.. His sale prices were between $31.28 and $36.76, with an estimated average price of $34.5. The impact to his portfolio due to this sale was less than 0.01%.

Paychex Inc. is a national provider of payroll human resource and employee benefit outsourcing solutions for small-to medium-sized businesses. The company has two reportable business segments: Payroll and Human Resource Services and Professional Employer Organization. Paychex's Payroll segment is a national payroll processing and payroll taxpreparation service provided to small-to medium-sized business. The Professional Employer Organization segment provides human resource products and services. Paychex Inc. has a market cap of $11.93 billion; its shares were traded at around $32.95 with a P/E ratio of 21.23 and P/S ratio of 5.75. The dividend yield of Paychex Inc. stocks is 3.64%.

Sold Out: Pfizer Inc (PFE)

PRIMECAP Management sold out his holdings in Pfizer Inc. 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 less than 0.01%.

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 $122.69 billion; its shares were traded at around $18.24 with a P/E ratio of 13.68 and P/S ratio of 2.52. The dividend yield of Pfizer Inc stocks is 6.7%.

Sold Out: Transocean Inc. (RIG)

PRIMECAP Management sold out his holdings in Transocean Inc.. His sale prices were between $143.5 and $160.54, with an estimated average price of $150.9. The impact to his portfolio due to this sale was less than 0.01%.

Transocean Inc. provides offshore contract drilling services for oil and gas exploration development and production. The company's core business is to contract these drilling rigs related equipment and work crews primarily on a dayrate basis to drill offshore wells. It specializes in technically demanding segments of the offshore drilling business with a particular focus on deepwater and harsh environment drilling services. The company also provides additional services including international turnkey drilling and management of third-party well service activities. Transocean Inc. has a market cap of $37.08 billion; its shares were traded at around $114.72 with a P/E ratio of 7.44 and P/S ratio of 3.72.

Sold Out: NYMEX Holdings Inc. (NMX)

PRIMECAP Management sold out his holdings in NYMEX Holdings Inc.. His sale prices were between $83.38 and $97.99, with an estimated average price of $92.4. The impact to his portfolio due to this sale was less than 0.01%.

NYMEX Holdings Inc. is the parent company of the New York Mercantile Exchange Inc. the world's largest physical commodities exchange offering futures and options trading in energy and metals contracts and clearing services for more than two hundred fifty off-exchange energy contracts. Through a hybrid model of open outcry floor trading and electronic trading on CME Globex and NYMEX ClearPort NYMEX offers crude oil petroleum products natural gas coal electricity gold silver copper aluminum platinum group metals and soft commodities contracts for trading and clearing virtually twenty-four hours each day. NYMEX Holdings Inc. has a market cap of $ million; its shares were traded at around $81.15 . The dividend yield of NYMEX Holdings Inc. stocks is 0.5%.

Sold Out: Fluor Corp. (FLR)

PRIMECAP Management sold out his holdings in Fluor Corp.. His sale prices were between $74.5 and $95.61, with an estimated average price of $86.3. The impact to his portfolio due to this sale was less than 0.01%.

FLUOR CORP-NEW is a holding company that provides services on a global basis in the fields of engineering procurement construction maintenance operations project management and business services. These services are grouped into three operating segments: Fluor Daniel Fluor Global Services and Fluor Signature Services. Fluor Daniel consists of four business units: Energy; Chemicals; Manufacturing; Life Sciences; Mining; and Infrastructure. Fluor Corp. has a market cap of $10.7 billion; its shares were traded at around $56.62 with a P/E ratio of 15.71 and P/S ratio of 0.52. The dividend yield of Fluor Corp. stocks is 0.6%.

Sold Out: MBIA Inc. (MBI)

PRIMECAP Management 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 $3.88 billion; its shares were traded at around $14.09 . The dividend yield of MBIA Inc. stocks is 8.4%.

Sold Out: Indymac Bancorp Inc. (IMB)

PRIMECAP Management sold out his holdings in Indymac Bancorp Inc.. His sale prices were between $0.81 and $4.9, with an estimated average price of $2.7. The impact to his portfolio due to this sale was less than 0.01%.

IndyMac Bancorp Inc. is the holding company for IndyMac Bank a federally insured savings bank. IndyMac Bank is one of the leading nearly ``pure play`` Internet banks in the country. IndyMac is a highly scalable consumer financial institution with an industry leading asset generation franchise predominantly over the Web. Indymac Bancorp Inc. has a market cap of $ million; its shares were traded at around $0.28 . The dividend yield of Indymac Bancorp Inc. stocks is 267.86%.

Sold Out: Embarq Corp. (EQ)

PRIMECAP Management sold out his holdings in Embarq Corp.. His sale prices were between $37.83 and $46.5, with an estimated average price of $42.7. The impact to his portfolio due to this sale was less than 0.01%.

Embarq Corp. provides a suite of communications services consisting of local and long distance voice and data services including high-speed Internet access to consumer business and wholesale customers. Embarq also provides wireless entertainment logistics and other communications-related services and equipment. Embarq Corp. has a market cap of $6.52 billion; its shares were traded at around $45.98 with a P/E ratio of 9.16 and P/S ratio of 1.04. The dividend yield of Embarq Corp. stocks is 5.8%.

Sold Out: DreamWorks Animation SKG Inc. (DWA)

PRIMECAP Management sold out his holdings in DreamWorks Animation SKG Inc.. His sale prices were between $26.37 and $31.57, with an estimated average price of $29. The impact to his portfolio due to this sale was less than 0.01%.

Dream Works Animation SKG Inc. develops and produces computer generated animated feature films for a broad movie-going audience. DreamWorks Animation SKG Inc. has a market cap of $2.87 billion; its shares were traded at around $30.85 with a P/E ratio of 15.11 and P/S ratio of 3.81.

Sold Out: News Corp. (NWS-A)

PRIMECAP Management sold out his holdings in News Corp.. His sale prices were between $15.36 and $19.15, with an estimated average price of $17.9. The impact to his portfolio due to this sale was less than 0.01%.

NEWS CORPORATION is a diversified entertainment company with operations in eight industry segments: filmed entertainment; television; cable network programming; direct broadcast satellite television; magazines and inserts; newspapers and information services; book publishing; and other. The activities of News Corporation are conducted principally in the United States Continental Europe the United Kingdom Australia Asia and the Pacific Basin. News Corp. has a market cap of $36 billion; its shares were traded at around $13.75 with a P/E ratio of 7.61 and P/S ratio of 1.09. The dividend yield of News Corp. stocks is 0.85%.

Sold Out: eSpeed Inc. (ESPD)

PRIMECAP Management sold out his holdings in eSpeed Inc.. The impact to his portfolio due to this sale was less than 0.01%.

eSpeed Inc. has a market cap of $ million; its shares were traded at around $11.75 .

Sold Out: WJ Communications Inc. (WJCI)

PRIMECAP Management sold out his holdings in WJ Communications Inc.. His sale prices were between $0.96 and $1, with an estimated average price of $1. The impact to his portfolio due to this sale was less than 0.01%.

WJ Communications Inc. has a market cap of $ million; its shares were traded at around $1 .

Sold Out: Citadel Broadcasting Corp. (CDL)

PRIMECAP Management sold out his holdings in Citadel Broadcasting Corp.. His sale prices were between $1.22 and $1.79, with an estimated average price of $1.5. The impact to his portfolio due to this sale was less than 0.01%.

Citadel Broadcasting Corporation is a pure play radio broadcaster focused primarily on acquiring developing and operating radio stations throughout the United States. Citadel Broadcasting Corp. has a market cap of $237.61 million; its shares were traded at around $0.9 with P/S ratio of 0.26.

Sold Out: IngersollRand Company Ltd. (IR)

PRIMECAP Management sold out his holdings in IngersollRand Company Ltd.. His sale prices were between $36.7 and $46.18, with an estimated average price of $42.6. The impact to his portfolio due to this sale was less than 0.01%.

Ingersoll Rand Company is one of the leading providers of security and safety climate control industrial productivity and infrastructure products. In each of these markets the company offers a diverse productportfolio that includes well-recognized industrial and commercial brands. IngersollRand Company Ltd. has a market cap of $11.15 billion; its shares were traded at around $34.07 with a P/E ratio of 3.08 and P/S ratio of 1.11. The dividend yield of IngersollRand Company Ltd. stocks is 1.9%.

Sold Out: NETEZZA Corp. (NZ)

PRIMECAP Management sold out his holdings in NETEZZA Corp.. His sale prices were between $9.12 and $13.34, with an estimated average price of $11.1. The impact to his portfolio due to this sale was less than 0.01%.

Netezza is the global leader in analytic appliances that dramatically simplify high-performance analytics for business users across the extended enterprise delivering significant competitive and operational advantage in today's information-intensive marketplaces. The Netezza Performance Server? family of streaming analytic appliances brings appliance simplicity to a broad range of complex data warehouse and analytic challenges. Customers who have realized the benefits of Netezza appliances include Ahold Amazon.com CNET Networks Debenhams Department of Veterans Affairs Epsilon Neiman Marcus Orange UK Premier Inc. Ross Stores Ryder System Inc. The Carphone Warehouse and Virgin Media. Based in Framingham Mass. Netezza has offices in Washington DC the United Kingdom and Asia Pacific. NETEZZA Corp. has a market cap of $744.36 million; its shares were traded at around $12.56 with a P/E ratio of 77.21 and P/S ratio of 5.21.


Rating: 2.5/5 (10 votes)

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