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Ron Baron Buys MettlerToledo International Inc., Hansen Natural Corp., Lindsay Corp., Sells Steiner Leisure Ltd., Smart Balance Inc., Raser Technologies Inc.

Believe or not, Ron Baron had a meeting with Bernie Madoff 9 years ago, and tried to learn something from him. Turned out it was something he couldn't learn and therefore, his returns are not as consistent. He had a bad 2008. But if you are looking for growing small cap companies, you need to see what he is buying. These are the details.

Ron Baron buys MettlerToledo International Inc., Hansen Natural Corp., Lindsay Corp., Wabtec, Costco Wholesale Corp., Broadridge Financial Solutions Inc., Amazon.com Inc., EnerNOC Inc., GSI Commerce Inc., iShares Russell 2000 Growth Index Fund, sells EXCO Resources Inc., comScore Inc., Raser Technologies Inc., Rex Energy Corp., PriceSmart Inc., NANOSPHERE, INC., NDS Group plc., 3M Company, Macquarie Infrastructure Company LLC, M.D.C. Holdings Inc., Kaiser Aluminum Corp., SL Green Realty Corp., Smart Balance Inc., Seaspan Corp., WellCare Health Plans Inc., inVentiv Health Inc., Vornado Realty Trust, Varian Medical Systems Inc., UTi Worldwide Inc., Net 1 UEPS Technologies Inc., Tractor Supply Company, Trimble Navigation Ltd., Thomas & Betts Corp., Steiner Leisure Ltd., The St. Joe Company, John Bean Technologies Corp., Casual Male Retail Group Inc., Boston Properties Inc., Berry Petroleum Company, Bristow Group Inc., Sotheby's, Brookfield Homes Corp., AvalonBay Communities Inc., Alexandria Real Estate Equities Inc., Apogee Enterprises Inc., Acadia Realty Trust, California Pizza Kitchen Inc., Carrizo Oil & Gas Inc., City National Corp., L1 Identity Solutions Inc., HFF Inc., Harman International Industries Inc., GAMCO Investors Inc., Electronic Arts Inc., Energy Recovery Inc., Design Within Reach Inc., DresserRand Group Inc., Delta Petroleum Corp., Douglas Emmett Inc., Assurant Inc. during the 3-months ended 12/31/2008, according to the most recent filings of his investment company, Baron Funds. Ron Baron owns 202 stocks with a total value of $10.6 billion. These are the details of the buys and sells.

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

Added: Covance Inc. (CVD)

Ron Baron added to his holdings in Covance Inc. by 189.49%. His purchase prices were between $35.02 and $72, with an estimated average price of $47.2. The impact to his portfolio due to this purchase was 0.76%. His holdings were 2,654,940 shares as of 12/31/2008.

Covance Inc. is a leading contract research organization providing a widerange of product development services on a worldwide basis to thepharmaceutical biotechnology and medical device industries. The company also provide health economics and outcomes services for managed care organizations hospitals and other health care providers and laboratory testing services to the chemical agrochemical and food industries. Covance Inc. has a market cap of $2.68 billion; its shares were traded at around $41.67 with a P/E ratio of 13.95 and P/S ratio of 1.47. Covance Inc. had an annual average earning growth of 8.5% over the past 10 years. GuruFocus rated Covance Inc. the business predictability rank of 2-star.

Added: Mohawk Industries Inc. (MHK)

Ron Baron added to his holdings in Mohawk Industries Inc. by 243.14%. His purchase prices were between $26.09 and $49, with an estimated average price of $39.5. The impact to his portfolio due to this purchase was 0.66%. His holdings were 2,295,150 shares as of 12/31/2008.

Mohawk Industries Inc. is one of the leading producers of woven and tufted broadloom carpet and rugs for principally residential applications.The company designs manufactures and markets carpet and rugs in a broad range of colors textures and patterns. The company is widely recognized through its premier brand names some of which are Mohawk Aladdin American Rug Craftsmen American Weavers Bigelow and Custom Weave. Mohawk Industries Inc. has a market cap of $2.53 billion; its shares were traded at around $33.27 with a P/E ratio of 7.52 and P/S ratio of 0.33. Mohawk Industries Inc. had an annual average earning growth of 13.5% over the past 10 years. GuruFocus rated Mohawk Industries Inc. the business predictability rank of 4.5-star.

Added: IDEXX Laboratories Inc. (IDXX)

Ron Baron added to his holdings in IDEXX Laboratories Inc. by 106.76%. His purchase prices were between $28.54 and $41.33, with an estimated average price of $33.8. The impact to his portfolio due to this purchase was 0.61%. His holdings were 3,478,505 shares as of 12/31/2008.

IDEXX Laboratories Inc. is a world leader in providing diagnostic detection and information products to the animal health industry as well as quality assurance products and services to the food and water industries. IDEXX Laboratories Inc. has a market cap of $2.07 billion; its shares were traded at around $34.37 with a P/E ratio of 18.26 and P/S ratio of 2.02. IDEXX Laboratories Inc. had an annual average earning growth of 17% over the past 5 years.

Added: Lamar Advertising Company (LAMR)

Ron Baron added to his holdings in Lamar Advertising Company by 145.16%. His purchase prices were between $11.02 and $22.48, with an estimated average price of $15.1. The impact to his portfolio due to this purchase was 0.6%. His holdings were 8,551,825 shares as of 12/31/2008.

Lamar Advertising Company is one of the largest and most experienced owners and operators of outdoor advertising structures in the United States. They also operate the largest logo sign business in the United States and transit advertising displays on bus shelters bus benches and buses in several markets. Logo signs are signs located near highway exits which deliver brand name information on available gas food lodging and camping services. Lamar Advertising Company has a market cap of $891.59 million; its shares were traded at around $8.31 with a P/E ratio of 44.36 and P/S ratio of 0.74. Lamar Advertising Company had an annual average earning growth of 9.2% over the past 10 years. GuruFocus rated Lamar Advertising Company the business predictability rank of 5-star.

Added: Ritchie Bros. Auctioneers Inc. (RBA)

Ron Baron added to his holdings in Ritchie Bros. Auctioneers Inc. by 31.16%. His purchase prices were between $16.64 and $22.52, with an estimated average price of $19. The impact to his portfolio due to this purchase was 0.48%. His holdings were 9,901,121 shares as of 12/31/2008.

Ritchie Bros. Auctioneers conduct unreserved public auctions every year at locations throughout North and Central America Europe Asia Australia Africa and the Middle East. The company is known for their innovative auction methods attention to detail and their total commitment to the unreserved auction. The confidence this gives their customers has enabled Ritchie Bros. to become one of the largest industrial auctioneer in the world. Ritchie Bros. Auctioneers Inc. has a market cap of $2.04 billion; its shares were traded at around $17.6 with a P/E ratio of 24.31 and P/S ratio of 6.47. The dividend yield of Ritchie Bros. Auctioneers Inc. stocks is 1.85%. Ritchie Bros. Auctioneers Inc. had an annual average earning growth of 20% over the past 5 years.

Added: Morningstar Inc. (MORN)

Ron Baron added to his holdings in Morningstar Inc. by 79.14%. His purchase prices were between $28.07 and $51.54, with an estimated average price of $36. The impact to his portfolio due to this purchase was 0.42%. His holdings were 2,837,328 shares as of 12/31/2008.

Morningstar Inc. is a leading provider of investment research in the United States and in major international markets. The company offers an extensive line of Internet software and print-based products and services for individuals financial advisors and institutional clients. Morningstar Inc. has a market cap of $1.63 billion; its shares were traded at around $34.3 with a P/E ratio of 18.39 and P/S ratio of 3.76.

Added: Community Health Systems Inc. (CYH)

Ron Baron added to his holdings in Community Health Systems Inc. by 48.39%. His purchase prices were between $11.35 and $20.5, with an estimated average price of $15.8. The impact to his portfolio due to this purchase was 0.41%. His holdings were 9,182,790 shares as of 12/31/2008.

Community Health Systems Inc. is a leading provider of non-urban acute healthcare services. Their facilities together with their medical staffs provide a wide range of inpatient and outpatient acute care services and a variety of specialty services. Community Health Systems Inc. has a market cap of $2 billion; its shares were traded at around $19.91 with a P/E ratio of 10.51 and P/S ratio of 0.28. Community Health Systems Inc. had an annual average earning growth of 14.2% over the past 5 years.

Added: MSCI INC (MXB)

Ron Baron added to his holdings in MSCI INC by 24.87%. His purchase prices were between $12.6 and $19.02, with an estimated average price of $16. The impact to his portfolio due to this purchase was 0.33%. His holdings were 9,939,909 shares as of 12/31/2008.

MSCI Inc. is a leading provider of investment decision support tools to investment institutions worldwide. MSCI Inc. products include indices and portfolio analytics for use in managing equity fixed income and multi-asset class portfolios. MSCI INC has a market cap of $1.24 billion; its shares were traded at around $17.96 with a P/E ratio of 25.15 and P/S ratio of 2.87.

Added: Ecolab Inc. (ECL)

Ron Baron added to his holdings in Ecolab Inc. by 58.6%. His purchase prices were between $32.64 and $39.69, with an estimated average price of $36.3. The impact to his portfolio due to this purchase was 0.31%. His holdings were 2,549,100 shares as of 12/31/2008.

Ecolab Inc. is the global leader in cleaning sanitizing food safety and infection control products and services. Ecolab delivers comprehensive programs and services to the foodservice food and beverage processing healthcare and hospitality markets. Ecolab Inc. has a market cap of $8.45 billion; its shares were traded at around $32.88 with a P/E ratio of 19.77 and P/S ratio of 1.54. The dividend yield of Ecolab Inc. stocks is 1.57%. Ecolab Inc. had an annual average earning growth of 12.3% over the past 10 years. GuruFocus rated Ecolab Inc. the business predictability rank of 5-star.

Added: Southern Union Company (SUG)

Ron Baron added to his holdings in Southern Union Company by 52.37%. His purchase prices were between $11.36 and $17.02, with an estimated average price of $13.9. The impact to his portfolio due to this purchase was 0.29%. His holdings were 6,934,898 shares as of 12/31/2008.

Southern Union is a natural gas utilities company whose principal line of business is the distribution of natural gas as a public utility through its operating divisions principally in Texas Missouri Florida Pennsylvania Rhode Island and Massachusetts. Southern Union Company has a market cap of $1.74 billion; its shares were traded at around $13.79 with a P/E ratio of 7.95 and P/S ratio of 0.67. The dividend yield of Southern Union Company stocks is 4.26%. Southern Union Company had an annual average earning growth of 20.3% over the past 10 years.

Added: Tetra Tech Inc. (TTEK)

Ron Baron added to his holdings in Tetra Tech Inc. by 645.03%. His purchase prices were between $16 and $23.46, with an estimated average price of $19.7. The impact to his portfolio due to this purchase was 0.26%. His holdings were 1,303,800 shares as of 12/31/2008.

TETRA TECH INC. provides comprehensive environmental engineering and consulting services addressing complex water contamination and other environmental problems. These services are directed to a broad base of public and private sector clients and include substantially all types of engineering and consulting services in the environmental area such as water chemistry geohydrology soil science water and wastewater treatment hydrodynamics geology air quality and civil engineering. Tetra Tech Inc. has a market cap of $1.5 billion; its shares were traded at around $24.98 with a P/E ratio of 23.36 and P/S ratio of 0.7.

Added: Eaton Vance Corp. (EV)

Ron Baron added to his holdings in Eaton Vance Corp. by 24.12%. His purchase prices were between $13.8 and $21.82, with an estimated average price of $19.2. The impact to his portfolio due to this purchase was 0.24%. His holdings were 6,164,576 shares as of 12/31/2008.

Eaton Vance Corp.'s principal business is creating marketing and managing investment funds and providing investment management and counseling services to institutions and individuals.The Company conducts its investment management and counseling business through two wholly-owned subsidiaries Eaton Vance Management and Boston Management and Research.The Company's growth has resulted from its ability to develop offer successfully and manage effectively new funds and to increase the assets of existing Eaton Vance Funds. Eaton Vance Corp. has a market cap of $2.54 billion; its shares were traded at around $19.52 with a P/E ratio of 12.96 and P/S ratio of 2.32. The dividend yield of Eaton Vance Corp. stocks is 2.81%. Eaton Vance Corp. had an annual average earning growth of 24.4% over the past 10 years. GuruFocus rated Eaton Vance Corp. the business predictability rank of 3.5-star.

Added: Tiffany & Co. (TIF)

Ron Baron added to his holdings in Tiffany & Co. by 43.7%. His purchase prices were between $19.35 and $28.57, with an estimated average price of $23.4. The impact to his portfolio due to this purchase was 0.22%. His holdings were 3,245,283 shares as of 12/31/2008.

Tiffany & Co. operates jewelry and specialty retail stores and manufactures products through its subsidiary corporations. Its principal subsidiary is Tiffany and Company. The Company operates TIFFANY & CO. retail stores and boutiques in the Americas Asia-Pacific and Europe and engages in direct selling through Internet catalog and business gift operations. Other operations include consolidated results from ventures operated under trademarks or tradenames other than TIFFANY & CO. Tiffany & Co. has a market cap of $2.82 billion; its shares were traded at around $20.18 with a P/E ratio of 8.32 and P/S ratio of 0.96. The dividend yield of Tiffany & Co. stocks is 2.97%. Tiffany & Co. had an annual average earning growth of 10.9% over the past 10 years. GuruFocus rated Tiffany & Co. the business predictability rank of 4-star.

Added: GenProbe Inc. (GPRO)

Ron Baron added to his holdings in GenProbe Inc. by 32.31%. His purchase prices were between $31.88 and $47.06, with an estimated average price of $41.1. The impact to his portfolio due to this purchase was 0.19%. His holdings were 1,879,600 shares as of 12/31/2008.

Gen-Probe Inc. is a global leader in the development manufacture and marketing of rapid accurate and cost-effective nucleic acid testing (NAT) products used for the clinical diagnosis of human diseases and for screening donated human blood. Using its patented NAT technology Gen-Probe has received FDA approvals for more than 40 products that detect a wide variety of infectious microorganisms including those causing sexually transmitted diseases tuberculosis strep throat pneumonia and fungal infections. GenProbe Inc. has a market cap of $2.53 billion; its shares were traded at around $46.53 with a P/E ratio of 24.39 and P/S ratio of 6.28. GenProbe Inc. had an annual average earning growth of 10.7% over the past 5 years.

Added: Charles River Laboratories International (CRL)

Ron Baron added to his holdings in Charles River Laboratories International by 59.63%. His purchase prices were between $21.45 and $44.42, with an estimated average price of $28.7. The impact to his portfolio due to this purchase was 0.19%. His holdings were 2,005,700 shares as of 12/31/2008.

Charles River Laboratories is a leading provider of critical research tools and integrated support services that enable innovative and efficient drug discovery and development. Charles River is the global leader inproviding the animal research models required in research and development for new drugs devices and therapies and has been in this business for more than 50 years. Charles River Laboratories International has a market cap of $1.82 billion; its shares were traded at around $27.85 with a P/E ratio of 9.22 and P/S ratio of 1.48. Charles River Laboratories International had an annual average earning growth of 6.4% over the past 5 years.

Added: Central European Media Enterprises Ltd. (CETV)

Ron Baron added to his holdings in Central European Media Enterprises Ltd. by 114.06%. His purchase prices were between $9.71 and $36.13, with an estimated average price of $21. The impact to his portfolio due to this purchase was 0.17%. His holdings were 1,528,186 shares as of 12/31/2008.

Central European Media Enterprises Ltd. Is involved in the Media and Advertising Industry. They invest in develop and operate national and regional commercial television stations and networks. Central European Media Enterprises Ltd. has a market cap of $347.59 million; its shares were traded at around $8.77 with a P/E ratio of 2.5 and P/S ratio of 0.41.

Added: Kennametal Inc. (KMT)

Ron Baron added to his holdings in Kennametal Inc. by 27.47%. His purchase prices were between $14.25 and $21.68, with an estimated average price of $18.9. The impact to his portfolio due to this purchase was 0.15%. His holdings were 3,311,070 shares as of 12/31/2008.

Kennametal Inc. is a leading global supplier of tooling engineered components and advanced materials consumed in production processes. The company improves customers' competitiveness by providing superior economic returns through the delivery of application knowledge and advanced technology to master the toughest of materials application demands. Companies producing everything from airframes to coal from medical implants to oil wells and from turbochargers to motorcycle parts recognize Kennametal for extraordinary contributions to their value chains. Kennametal Inc. has a market cap of $1.33 billion; its shares were traded at around $18.5 with a P/E ratio of 7.27 and P/S ratio of 0.49. The dividend yield of Kennametal Inc. stocks is 2.63%. Kennametal Inc. had an annual average earning growth of 1.1% over the past 10 years.

Added: Copart Inc. (CPRT)

Ron Baron added to his holdings in Copart Inc. by 13.22%. His purchase prices were between $25.63 and $34.9, with an estimated average price of $29.3. The impact to his portfolio due to this purchase was 0.14%. His holdings were 4,532,443 shares as of 12/31/2008.

Copart Inc. provides vehicle suppliers primarily insurance companies with a full range of services to process and sell salvage vehicles through auctions principally to licensed dismantlers rebuilders and used vehicle dealers. Salvage vehicles are either damaged vehicles deemed a total loss for insurance or business purposes or are recovered stolen vehicles for which an insurance settlement with the vehicle owner has already been made. Copart Inc. has a market cap of $2.22 billion; its shares were traded at around $26.35 with a P/E ratio of 14.88 and P/S ratio of 2.83. Copart Inc. had an annual average earning growth of 19.7% over the past 10 years. GuruFocus rated Copart Inc. the business predictability rank of 4-star.

Added: Quanta Services Inc. (PWR)

Ron Baron added to his holdings in Quanta Services Inc. by 68.04%. His purchase prices were between $11.67 and $21.12, with an estimated average price of $17.3. The impact to his portfolio due to this purchase was 0.12%. His holdings were 1,600,370 shares as of 12/31/2008.

Quanta is a leading provider of specialty electrical contracting and maintenance services primarily related to electric and telecommunications infrastructure in North America. In addition the Company provides electrical contracting services to the commercial and industrial markets and installs transportation control and lighting systems. Some of Quantas services include the installation repair and maintenance of electric power transmission and distribution lines and telecommunication and cable television lines the construction of electric substations and the erection of cellular telephone. Quanta Services Inc. has a market cap of $4.16 billion; its shares were traded at around $18.98 with a P/E ratio of 26.67 and P/S ratio of 1.57. Quanta Services Inc. had an annual average earning growth of 83.3% over the past 5 years.

Added: Equinix Inc. (EQIX)

Ron Baron added to his holdings in Equinix Inc. by 8.18%. His purchase prices were between $35.14 and $62.81, with an estimated average price of $52.4. The impact to his portfolio due to this purchase was 0.12%. His holdings were 3,047,023 shares as of 12/31/2008.

Equinix designs builds and operates neutral Internet Business Exchangecenters where Internet businesses place their equipment and their network facilities in order to interconnect with each other. The neutral IBX centers provide content providers application service providers and e-commerce companies with the ability to directly interconnect with a competitive choice of bandwidth providers Internet service providers and site and performance management companies. Equinix Inc. has a market cap of $2.27 billion; its shares were traded at around $51.26 with a P/E ratio of 275.95 and P/S ratio of 5.41.

Added: Airgas Inc. (ARG)

Ron Baron added to his holdings in Airgas Inc. by 191.49%. His purchase prices were between $30.75 and $38.75, with an estimated average price of $35.3. The impact to his portfolio due to this purchase was 0.09%. His holdings were 366,400 shares as of 12/31/2008.

Airgas Inc. through its subsidiaries is the largest U.S. distributor of industrial medical and specialty gases and hardgoods such as welding equipment and supplies. Airgas is also the third-largest U.S. distributor of safety products the largest U.S. producer of nitrous oxide and dry ice the largest liquid carbon dioxide producer in the Southeast and a leading distributor of process chemicals refrigerants and ammonia products. More than eleven thousand employees work in about nine hundred locations including branches retail stores gas fill plants specialty gas labs production facilities and distribution centers. Airgas also distributes its products and services through eBusiness catalog and telesales channels. Its national scale and strong local presence offer a competitive edge to its diversified customer base. Airgas Inc. has a market cap of $3.16 billion; its shares were traded at around $38.49 with a P/E ratio of 12.25 and P/S ratio of 0.79. The dividend yield of Airgas Inc. stocks is 1.64%. Airgas Inc. had an annual average earning growth of 10.7% over the past 10 years. GuruFocus rated Airgas Inc. the business predictability rank of 2-star.

Added: Advent Software Inc. (ADVS)

Ron Baron added to his holdings in Advent Software Inc. by 43.63%. His purchase prices were between $18.74 and $26.37, with an estimated average price of $22. The impact to his portfolio due to this purchase was 0.08%. His holdings were 1,425,825 shares as of 12/31/2008.

Advent Software Inc. is a leading provider of Enterprise Investment Management solutions that automate and integrate mission-critical functions for investment management professionals. Advent Software Inc. has a market cap of $795.15 million; its shares were traded at around $29.05 with a P/E ratio of 65.62 and P/S ratio of 3.

Added: Intuitive Surgical Inc. (ISRG)

Ron Baron added to his holdings in Intuitive Surgical Inc. by 32.73%. His purchase prices were between $118.26 and $189.13, with an estimated average price of $149.7. The impact to his portfolio due to this purchase was 0.08%. His holdings were 259,925 shares as of 12/31/2008.

Intuitive Surgical Inc. designs and manufactures the da Vinci Surgical System. The da Vinci Surgical System seamlessly translates the surgeon's natural hand movements on instrument controls at a console into corresponding micromovements of instruments positioned inside the patient through small puncture incisions or ports. The products provide the surgeon with the range of motion and fine tissue control previously possible only with open surgery while simultaneously allowing the surgeon to work through small ports. Intuitive Surgical Inc. has a market cap of $4.48 billion; its shares were traded at around $112.09 with a P/E ratio of 22.43 and P/S ratio of 5.12.

Added: People's United Financial Inc. (PBCT)

Ron Baron added to his holdings in People's United Financial Inc. by 39.81%. His purchase prices were between $14.74 and $18.91, with an estimated average price of $17.1. The impact to his portfolio due to this purchase was 0.07%. His holdings were 1,468,050 shares as of 12/31/2008.

People's Bank is a diversified financial services company providing consumer and commercial banking services in addition to insurance trust and financial advisory services. Through its subsidiaries People's provides brokerage and financial advisory services asset management equipment financing and insurance services. People's United Financial Inc. has a market cap of $6.12 billion; its shares were traded at around $17.09 with a P/E ratio of 33.19 and P/S ratio of 5.01. The dividend yield of People's United Financial Inc. stocks is 3.41%. People's United Financial Inc. had an annual average earning growth of 1% over the past 5 years.

Added: Ultimate Software Group Inc. (ULTI)

Ron Baron added to his holdings in Ultimate Software Group Inc. by 32.45%. His purchase prices were between $12.82 and $19.39, with an estimated average price of $15.1. The impact to his portfolio due to this purchase was 0.04%. His holdings were 1,245,000 shares as of 12/31/2008.

Ultimate Software is a leader in delivering Web-based payroll and employee management solutions to organizations of all sizes. Ultimate Software's fully integrated award-winning UltiPro suite enables businesses to manage human resources and payroll strategically and cost-effectively benefiting everyone in the organization. Ultimate Software offers application hosting through IBM Global Services and a business-to-business Web portal providing access to value-added resources via the Internet. Ultimate Software Group Inc. has a market cap of $366.58 million; its shares were traded at around $14.43 with a P/E ratio of 750 and P/S ratio of 2.05.

Added: ACE Ltd. (ACE)

Ron Baron added to his holdings in ACE Ltd. by 290.77%. His purchase prices were between $40.54 and $57.07, with an estimated average price of $49.8. The impact to his portfolio due to this purchase was 0.03%. His holdings were 72,000 shares as of 12/31/2008.

ACE LTD. provides excess liability insurance for bodily injury property damage & wrongful advertising. ACE offers excess liability insurance for corporate directors and officers against wrongful acts and claims and satellite insurance for launch and in-orbit operations. ACE Ltd. has a market cap of $14.84 billion; its shares were traded at around $42.33 with a P/E ratio of 5.76 and P/S ratio of 1.12. The dividend yield of ACE Ltd. stocks is 2.43%. ACE Ltd. had an annual average earning growth of 26.7% over the past 10 years.

Added: Nalco Holding Company (NLC)

Ron Baron added to his holdings in Nalco Holding Company by 25%. His purchase prices were between $8.92 and $14.08, with an estimated average price of $12.1. The impact to his portfolio due to this purchase was 0.03%. His holdings were 1,250,000 shares as of 12/31/2008.

During the past century Nalco Holding Company has grown from a fledgling water treatment business to a leading provider of integrated water treatment and process improvement services chemicals and equipment programs for industrial and institutional applications. Nalco does this by focusing on its core markets of water treatment and process chemicals and on its corporate strengths ? global presence on-site expertise and innovative products and services. Nalco Holding Company has a market cap of $1.69 billion; its shares were traded at around $11.72 with a P/E ratio of 10.47 and P/S ratio of 0.4. The dividend yield of Nalco Holding Company stocks is 1.14%.

Added: JPMorgan Chase & Co. (JPM)

Ron Baron added to his holdings in JPMorgan Chase & Co. by 58.5%. His purchase prices were between $22.45 and $41.14, with an estimated average price of $33.6. The impact to his portfolio due to this purchase was 0.02%. His holdings were 178,000 shares as of 12/31/2008.

J.P. Morgan Chase & Co. is a leading global financial services firm. The firm is a leader in investment banking asset management private banking private equity custody and transaction services and retail and middle market financial services. A component of the Dow Jones Industrial Average JPMorgan Chase is headquartered in New York and serves more than 30 million consumer customers and the world's most prominent corporate institutional and government clients. JPMorgan Chase & Co. has a market cap of $103.13 billion; its shares were traded at around $24.69 with a P/E ratio of 28.78 and P/S ratio of 1.53. The dividend yield of JPMorgan Chase & Co. stocks is 5.5%.

Added: Team Inc. (TISI)

Ron Baron added to his holdings in Team Inc. by 21.57%. His purchase prices were between $22.19 and $29.06, with an estimated average price of $26.4. The impact to his portfolio due to this purchase was 0.02%. His holdings were 500,000 shares as of 12/31/2008.

TEAM INC. is a professional full service provider of environmental engineering consulting monitoring and repair services. Environmental engineering consulting and monitoring services primarily in air quality together with on-stream leak repair and related industrial services for piping systems and process equipment are provided by subsidiaries of the Company through its Environmental Services business segment. Team Inc. has a market cap of $310.51 million; its shares were traded at around $14.02 with a P/E ratio of 11.95 and P/S ratio of 0.65. Team Inc. had an annual average earning growth of 27.5% over the past 10 years. GuruFocus rated Team Inc. the business predictability rank of 2.5-star.

Added: IntercontinentalExchange Inc. (ICE)

Ron Baron added to his holdings in IntercontinentalExchange Inc. by 56.05%. His purchase prices were between $58.5 and $85.56, with an estimated average price of $74.3. The impact to his portfolio due to this purchase was 0.01%. His holdings were 34,800 shares as of 12/31/2008.

IntercontinentalExchange operates the leading electronic global futures and OTC marketplace for trading energy commodity contracts including crude oil and refined products natural gas power and emissions. ICE conducts its markets for futures trading through its regulated subsidiary ICE Futures Europe's leading energy futures and options exchange. ICE also offers a range of risk management and trading support services including cleared OTC contracts electronic trade confirmations and energy market data. ICE globally distributed liquid electronic markets ICE offers a range of risk management tools designed to increase trading efficiency. Electronic trade confirmations through ICE eConfirm ensure that trades are confirmed accurately and in a matter of seconds whether executed in ICE?s OTC markets or off-exchange. The combination of speed accessibility service and information makes ICE the complete energy marketplace for thousands of market participants across the globe IntercontinentalExchange Inc. has a market cap of $4.59 billion; its shares were traded at around $63.12 with a P/E ratio of 14.17 and P/S ratio of 7.98.

Added: Activision Inc. (ATVI)

Ron Baron added to his holdings in Activision Inc. by 32.08%. His purchase prices were between $8.86 and $13.02, with an estimated average price of $11. The impact to his portfolio due to this purchase was 0.01%. His holdings were 330,200 shares as of 12/31/2008.

ACTIVISION BLIZZARD INC. is a worldwide pure-play online and console game publisher with leading market positions across all categories of the rapidly growing interactive entertainment software industry. Activision Blizzard's portfolio includes best-selling video games such as Guitar Hero Call of Duty and Tony Hawk as well as Spider-Man X-Men Shrek James Bond and TRANSFORMERS leading franchises such as Crash Bandicoot and Spyro and Blizzard Entertainment's StarCraft Diablo and Warcraft franchises including the global number one subscription-based massively multi-player online role-playing game World of Warcraft. Activision Blizzard maintains operations in the U.S. Canada the United Kingdom France Germany Ireland Italy Sweden Spain Norway Denmark the Netherlands Romania Australia Chile India Japan China the region of Taiwan and South Korea. Activision Inc. has a market cap of $13.19 billion; its shares were traded at around $9.7 with a P/E ratio of 15.32 and P/S ratio of 4.55. Activision Inc. had an annual average earning growth of 13.1% over the past 10 years.

New Purchase: MettlerToledo International Inc. (MTD)

Ron Baron initiated holdings in MettlerToledo International Inc.. His purchase prices were between $65.75 and $82.25, with an estimated average price of $74. The impact to his portfolio due to this purchase was 0.7%. His holdings were 1,099,236 shares as of 12/31/2008.

Mettler-Toledo is the world's largest manufacturer and marketer of weighinginstruments for use in laboratory industrial and food retailing applications. The Company focuses on the high value-added segments of the weighing instruments market by providing solutions for specific applications. The Company also manufactures and sells certain related laboratory measurement instruments with one of the top three market positions worldwide in titrators thermal analysis systems pH meters and lab reactors. MettlerToledo International Inc. has a market cap of $2.11 billion; its shares were traded at around $61.34 with a P/E ratio of 10.8 and P/S ratio of 1.18. MettlerToledo International Inc. had an annual average earning growth of 13.1% over the past 10 years. GuruFocus rated MettlerToledo International Inc. the business predictability rank of 3-star.

New Purchase: Hansen Natural Corp. (HANS)

Ron Baron initiated holdings in Hansen Natural Corp.. His purchase prices were between $21.12 and $33.9, with an estimated average price of $27. The impact to his portfolio due to this purchase was 0.15%. His holdings were 457,800 shares as of 12/31/2008.

Hansen Natural Corporation is a holding company and carries on no operating business except through its direct wholly-owned subsidiaries Hansen Beverage Company and Hard e Beverage Company. Hansen is engaged in the business of marketing selling and distributing so-called ``alternative`` beverage category such as natural sodas fruit juices juice cocktails. Hansen Natural Corp. has a market cap of $3.34 billion; its shares were traded at around $35.29 with a P/E ratio of 20.21 and P/S ratio of 3.7. Hansen Natural Corp. had an annual average earning growth of 113.2% over the past 5 years.

New Purchase: Lindsay Corp. (LNN)

Ron Baron initiated holdings in Lindsay Corp.. His purchase prices were between $29.87 and $61.15, with an estimated average price of $41.7. The impact to his portfolio due to this purchase was 0.12%. His holdings were 403,498 shares as of 12/31/2008.

Lindsay Corporation manufactures and markets irrigation equipment including Zimmatic Greenfield Stettyn and Perrot center pivot lateral move and hose reel irrigation systems and GrowSmart controls all of which are used by farmers to increase or stabilize crop production while conserving water energy and labor. The Company also manufactures and markets infrastructure products including movable barriers for lane management to reduce traffic congestion and improve safety through its wholly owned subsidiary Barrier Systems Inc. In addition the Company produces crash cushions and specialty barriers to improve motorist and highway worker safety large diameter steel tubing and provides outsourced manufacturing and production services for other companies. Lindsay Corp. has a market cap of $351.29 million; its shares were traded at around $28.92 with a P/E ratio of 8.54 and P/S ratio of 0.74. The dividend yield of Lindsay Corp. stocks is 1.05%. Lindsay Corp. had an annual average earning growth of 5.1% over the past 10 years.

New Purchase: Broadridge Financial Solutions Inc. (BR)

Ron Baron initiated holdings in Broadridge Financial Solutions Inc.. His purchase prices were between $10.07 and $13.02, with an estimated average price of $11.7. The impact to his portfolio due to this purchase was 0.04%. His holdings were 300,000 shares as of 12/31/2008.

Broadridge is a leading global provider of technology-based outsourcing solutions to the financial services industry. Their integrated systems and services include investor communication securities processing and clearing and outsourcing solutions. Broadridge offers a broad integrated suite of innovative global solutions across the investment lifecycle and provides awide range of cost-effective and scalable solutions to the financial industry. Their systems help reduce the need for clients to make significant capital investments in operations infrastructure thereby allowing them to increase their focus on core business activities. Broadridge Financial Solutions Inc. has a market cap of $2.23 billion; its shares were traded at around $16.89 with a P/E ratio of 10.87 and P/S ratio of 1. The dividend yield of Broadridge Financial Solutions Inc. stocks is 1.78%.

New Purchase: Costco Wholesale Corp. (COST)

Ron Baron initiated holdings in Costco Wholesale Corp.. His purchase prices were between $46.54 and $57.59, with an estimated average price of $52.6. The impact to his portfolio due to this purchase was 0.04%. His holdings were 80,000 shares as of 12/31/2008.

Costco Wholesale Corp. operates membership warehouses based on the concept that offering members very low prices on a limited selection of nationally branded and selected private label products in a wide range of merchandise categories will produce high sales volumes and rapid inventory turnover. This rapid inventory turnover enables Costco to operate profitably at significantly lower gross margins than traditional wholesalers discount retailers and supermarkets. Costco Wholesale Corp. has a market cap of $19.52 billion; its shares were traded at around $42.76 with a P/E ratio of 15.17 and P/S ratio of 0.27. The dividend yield of Costco Wholesale Corp. stocks is 1.42%. Costco Wholesale Corp. had an annual average earning growth of 8.3% over the past 10 years. GuruFocus rated Costco Wholesale Corp. the business predictability rank of 4.5-star.

New Purchase: Wabtec (WAB)

Ron Baron initiated holdings in Wabtec. His purchase prices were between $30.82 and $46.43, with an estimated average price of $39.1. The impact to his portfolio due to this purchase was 0.04%. His holdings were 96,000 shares as of 12/31/2008.

Wabtec Corporation is one of North America's largest providers of value-added technology-based products and services for the rail industry. Through its subsidiaries the company manufactures a full range of products for locomotives freight cars and passenger transit vehicles. The company also builds new locomotives up to 4000 horsepower and providesaftermarket services including locomotive and freight car fleet maintenance. (PRESS RELEASE) Wabtec has a market cap of $1.62 billion; its shares were traded at around $30.6 with a P/E ratio of 12.76 and P/S ratio of 1.19. The dividend yield of Wabtec stocks is 0.12%. Wabtec had an annual average earning growth of 33.8% over the past 5 years.

New Purchase: Amazon.com Inc. (AMZN)

Ron Baron initiated holdings in Amazon.com Inc.. His purchase prices were between $37.87 and $57.24, with an estimated average price of $49. The impact to his portfolio due to this purchase was 0.02%. His holdings were 45,500 shares as of 12/31/2008.

Amazon.com Inc. seeks to be the world's most customer-centric company where customers can find and discover anything they may want to buy online. The company lists unique items in categories such as books music DVDs videos consumer electronics toys camera and photo items software computer and video games tools and hardware lawn and patio items kitchen products and wireless products. Amazon.com Inc. has a market cap of $28.54 billion; its shares were traded at around $63.26 with a P/E ratio of 44.37 and P/S ratio of 1.49.

New Purchase: EnerNOC Inc. (ENOC)

Ron Baron initiated holdings in EnerNOC Inc.. His purchase prices were between $5.3 and $8.26, with an estimated average price of $6.8. The impact to his portfolio due to this purchase was 0.01%. His holdings were 120,000 shares as of 12/31/2008.

ENERNOC INC. is a leading developer and provider of clean and intelligent energy solutions to commercial institutional and industrial customers as well as electric power grid operators and utilities. EnerNOC's technology-enabled demand response and energy management solutions help optimize the balance of electric supply and demand. The Company uses its Network Operations Center or NOC to remotely manage and reduce electricity consumption across a network of commercial institutional and industrial customer sites and make demand response capacity and energy available to grid operators and utilities on demand. EnerNOC Inc. has a market cap of $245.24 million; its shares were traded at around $11.12 with and P/S ratio of 4.03.

New Purchase: GSI Commerce Inc. (GSIC)

Ron Baron initiated holdings in GSI Commerce Inc.. His purchase prices were between $6.4 and $13.27, 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 30,000 shares as of 12/31/2008.

Global Sports develops and operates e-commerce sporting goods businesses for specialty retailers general merchandisers Internet companies and media companies under exclusive long-term agreements. The company enables its partners to capitalize on their existing assets to exploit the online opportunities in the sporting goods industry. The company's scalable business model takes advantage of its proprietary technology and product database customer service capabilities relationships with vendorsand centralized inventory management. GSI Commerce Inc. has a market cap of $480.34 million; its shares were traded at around $10.77 with and P/S ratio of 0.64.

New Purchase: iShares Russell 2000 Growth Index Fund (IWO)

Ron Baron initiated holdings in iShares Russell 2000 Growth Index Fund. His purchase prices were between $41.87 and $55.09, with an estimated average price of $49.5. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 4,050 shares as of 12/31/2008.

iShares Russell 2000 Growth Index Fund has a market cap of $2.79 billion; its shares were traded at around $48.56 . The dividend yield of iShares Russell 2000 Growth Index Fund stocks is 0.6%.

Reduced: OMNITURE, INC. (OMTR)

Ron Baron reduced to his holdings in OMNITURE, INC. by 38.3%. His sale prices were between $7.93 and $11.5, with an estimated average price of $10.2. The impact to his portfolio due to this sale was less than 0.01%. Ron Baron still held 72,500 shares as of 12/31/2008.

OMNITURE INC is a leading provider of online business optimization software enabling customers to manage and enhance online offline and multi channel business initiatives. Their software which they hosts and delivers to its customers as an on demand subscription service and on premise solution enables customers to capture store and analyze information generated by their Web sites and other sources and to gain critical business insights into the performance and efficiency of marketing and sales initiatives and other business processes. OMNITURE, INC. has a market cap of $801.51 million; its shares were traded at around $10.58 with a P/E ratio of 1099 and P/S ratio of 2.71.

Reduced: Quest Diagnostics Inc. (DGX)

Ron Baron reduced to his holdings in Quest Diagnostics Inc. by 98.51%. His sale prices were between $40.19 and $50.08, with an estimated average price of $45.5. The impact to his portfolio due to this sale was less than 0.01%. Ron Baron still held 9,100 shares as of 12/31/2008.

Quest Diagnostics Inc. is the leading provider of diagnostic testing information and services that patients and doctors need to make better healthcare decisions. The company offers the broadest access to diagnostic testing services through its national network of laboratories and patient service centers and provides interpretive consultation through its extensive medical and scientific staff. Quest Diagnostics is a pioneer in developing innovative new diagnostic tests and advanced healthcare information technology solutions that help improve patient care. Quest Diagnostics Inc. has a market cap of $10.2 billion; its shares were traded at around $52.03 with a P/E ratio of 15.9 and P/S ratio of 1.41. The dividend yield of Quest Diagnostics Inc. stocks is 0.77%. Quest Diagnostics Inc. had an annual average earning growth of 23.9% over the past 10 years. GuruFocus rated Quest Diagnostics Inc. the business predictability rank of 4-star.

Reduced: Transocean Inc. (RIG)

Ron Baron reduced to his holdings in Transocean Inc. by 20.13%. His sale prices were between $44.18 and $82.33, with an estimated average price of $63.1. The impact to his portfolio due to this sale was less than 0.01%. Ron Baron still held 53,000 shares as of 12/31/2008.

Transocean LTD. formerly Transocean Inc. is an international provider of offshore contract drilling services for oil and gas wells. The company offers deepwater and harsh environment drilling oil and gas drilling management and drilling engineering and project management services as well as explores develops and produces oil and gas resources. The company is based in Houston Texas. Transocean Inc. has a market cap of $19.07 billion; its shares were traded at around $60.15 with a P/E ratio of 4.24 and P/S ratio of 2.99. Transocean Inc. had an annual average earning growth of 6% over the past 10 years.

Reduced: CyberSource Corp. (CYBS)

Ron Baron reduced to his holdings in CyberSource Corp. by 42.55%. His sale prices were between $6.65 and $12.81, with an estimated average price of $10.9. The impact to his portfolio due to this sale was less than 0.01%. Ron Baron still held 54,000 shares as of 12/31/2008.

CyberSource Corporation is a leading provider of electronic payment and risk management solutions. CyberSource solutions enable electronic payment processing for Web call center and POS environments. CyberSource also offers industry leading risk management solutions for merchants accepting card-not-present transactions. CyberSource Professional Services designs integrates and optimizes commerce transaction processing systems. CyberSource Corp. has a market cap of $983.18 million; its shares were traded at around $13.08 with a P/E ratio of 30.09 and P/S ratio of 4.29.

Reduced: FedEx Corp. (FDX)

Ron Baron reduced to his holdings in FedEx Corp. by 21.32%. His sale prices were between $56.71 and $73.58, with an estimated average price of $64.3. The impact to his portfolio due to this sale was -0.01%. Ron Baron still held 49,000 shares as of 12/31/2008.

FedEx Corporation is a global transportation and logistics enterprise that offers customers a one-stop source for global shipping logistics and supply chain solutions. Services offered by FedEx companies include worldwide express delivery ground small-parcel delivery less-than-truckload freight delivery and global logistics supply chain management and electronic commerce solutions. FedEx Corp. has a market cap of $17.2 billion; its shares were traded at around $51.81 with a P/E ratio of 10.01 and P/S ratio of 0.45. The dividend yield of FedEx Corp. stocks is 0.8%. FedEx Corp. had an annual average earning growth of 17.7% over the past 10 years. GuruFocus rated FedEx Corp. the business predictability rank of 3.5-star.

Reduced: Comcast Corp. Special (CMCSK)

Ron Baron reduced to his holdings in Comcast Corp. Special by 45.63%. His sale prices were between $12.8 and $16.91, with an estimated average price of $15. The impact to his portfolio due to this sale was -0.01%. Ron Baron still held 161,000 shares as of 12/31/2008.

Comcast Corporation is principally involved in the development management and operation of broadband cable networks and in the provision of electronic commerce and programming content. Comcast's commerce and content businesses include majority ownership of QVC Comcast-Spectacor Comcast SportsNet and The Golf Channel a controlling interest in E! Networks and other programming investments. (Company Press Release) Comcast Corp. Special has a market cap of $38.26 billion; its shares were traded at around $12.82 with and P/S ratio of 1.24. The dividend yield of Comcast Corp. Special stocks is 1.91%. Comcast Corp. Special had an annual average earning growth of 46.5% over the past 5 years.

Reduced: Time Warner Telecom Inc. (TWTC)

Ron Baron reduced to his holdings in Time Warner Telecom Inc. by 93.75%. His sale prices were between $5.09 and $8.15, with an estimated average price of $7. The impact to his portfolio due to this sale was -0.01%. Ron Baron still held 140,000 shares as of 12/31/2008.

TW TELECOM INC. headquartered in Littleton Colo. provides managed network services specializing in Ethernet and transport data networking Internet access local and long distance voice VoIP VPN and security to enterprise organizations and communications services companies throughout the U.S. As a leading provider of integrated and converged network solutions tw telecom delivers customers overall economic value quality service and improved business productivity. Time Warner Telecom Inc. has a market cap of $1.23 billion; its shares were traded at around $8.73 with and P/S ratio of 1.13. Time Warner Telecom Inc. had an annual average earning growth of 1.7% over the past 5 years.

Reduced: Tetra Technologies Inc. (TTI)

Ron Baron reduced to his holdings in Tetra Technologies Inc. by 85.69%. His sale prices were between $3.5 and $7.65, with an estimated average price of $5.4. The impact to his portfolio due to this sale was -0.01%. Ron Baron still held 167,000 shares as of 12/31/2008.

TETRA Technologies Inc. is an energy services company with an integrated chemicals operation that supplies chemical products to energy markets as well as other markets. TETRA is comprised of three divisions - Fluids Well Abandonment/Decommissioning and Testing & Services. Tetra Technologies Inc. has a market cap of $463.65 million; its shares were traded at around $3.93 with a P/E ratio of 6.87 and P/S ratio of 0.47. Tetra Technologies Inc. had an annual average earning growth of 12% over the past 10 years.

Reduced: CHINA NEPSTAR ADS (NPD)

Ron Baron reduced to his holdings in CHINA NEPSTAR ADS by 67.58%. His sale prices were between $2.92 and $4.85, with an estimated average price of $4.1. The impact to his portfolio due to this sale was -0.01%. Ron Baron still held 422,063 shares as of 12/31/2008.

Nepstar Chain Drugstore is China's largest retail drugstore chain based on the number of directly operated stores. The green Nepstar store signage is a familiar sight in many urban neighborhoods across mainland China which signifies their commitment to bringing health convenience and a better quality of life to Chinese. CHINA NEPSTAR ADS has a market cap of $437.04 million; its shares were traded at around $4.02 with a P/E ratio of 17.08 and P/S ratio of 1.63. The dividend yield of CHINA NEPSTAR ADS stocks is 2.93%.

Reduced: Diamond Offshore Drilling Inc. (DO)

Ron Baron reduced to his holdings in Diamond Offshore Drilling Inc. by 30.68%. His sale prices were between $56.1 and $86.1, with an estimated average price of $67.3. The impact to his portfolio due to this sale was -0.01%. Ron Baron still held 46,000 shares as of 12/31/2008.

Diamond Offshore Drilling Inc. engages principally in the contract drilling of offshore oil and gas wells. They are a leading deepwater drilling contractor and owns and operates one of the largest fleets of offshore drilling units in the world. Diamond Offshore operates in the waters of six of the world's seven continents supplying comprehensive drilling services to the global energy industry. Diamond Offshore Drilling Inc. has a market cap of $9.38 billion; its shares were traded at around $63.41 with a P/E ratio of 6.94 and P/S ratio of 2.65. The dividend yield of Diamond Offshore Drilling Inc. stocks is 0.74%. Diamond Offshore Drilling Inc. had an annual average earning growth of 6.8% over the past 10 years.

Reduced: Devon Energy Corp. (DVN)

Ron Baron reduced to his holdings in Devon Energy Corp. by 32.56%. His sale prices were between $59.87 and $80.68, with an estimated average price of $69. The impact to his portfolio due to this sale was -0.01%. Ron Baron still held 42,000 shares as of 12/31/2008.

Devon Energy Corporation is an independent energy company engaged primarily in oil and gas exploration development and production and in the acquisition of producing properties. Devon currently owns oil and gas properties concentrated in four operating divisions: the Northern Division; the Southern Division; Canada; and the International Division. Devon Energy Corp. has a market cap of $25.9 billion; its shares were traded at around $52.64 with a P/E ratio of 5.88 and P/S ratio of 1.7. The dividend yield of Devon Energy Corp. stocks is 1.1%. Devon Energy Corp. had an annual average earning growth of 18.1% over the past 10 years. GuruFocus rated Devon Energy Corp. the business predictability rank of 4.5-star.

Reduced: Apple Inc. (AAPL)

Ron Baron reduced to his holdings in Apple Inc. by 30.38%. His sale prices were between $82.58 and $107.59, with an estimated average price of $94.2. The impact to his portfolio due to this sale was -0.02%. Ron Baron still held 63,000 shares as of 12/31/2008.

Apple Computer Inc. designs manufactures and markets personal computers and related personal computing and communicating solutions for sale primarily to education creative consumer and business customers. Apple Inc. has a market cap of $88.64 billion; its shares were traded at around $99.16 with a P/E ratio of 18.5 and P/S ratio of 2.73. Apple Inc. had an annual average earning growth of 90.5% over the past 5 years.

Reduced: AllianceBernstein Holding L.P. Units (AB)

Ron Baron reduced to his holdings in AllianceBernstein Holding L.P. Units by 83.46%. His sale prices were between $12.86 and $23.33, with an estimated average price of $19.2. The impact to his portfolio due to this sale was -0.02%. Ron Baron still held 86,700 shares as of 12/31/2008.

ALLIANCE CAP MANAGEMENT L.P. provides diversified investment management services primarily to pension funds endowments foreign financial institutions and to individual investors. AllianceBernstein Holding L.P. Units has a market cap of $1.52 billion; its shares were traded at around $15.22 with a P/E ratio of 5.92 and P/S ratio of 0.43. The dividend yield of AllianceBernstein Holding L.P. Units stocks is 6.68%. AllianceBernstein Holding L.P. Units had an annual average earning growth of 23.8% over the past 10 years. GuruFocus rated AllianceBernstein Holding L.P. Units the business predictability rank of 2-star.

Reduced: Ultra Petroleum Corp (UPL)

Ron Baron reduced to his holdings in Ultra Petroleum Corp by 37.5%. His sale prices were between $31.9 and $47.48, with an estimated average price of $39.7. The impact to his portfolio due to this sale was -0.02%. Ron Baron still held 125,000 shares as of 12/31/2008.

Ultra Petroleum is an independent exploration and production company focused on developing its long life natural gas reserves in the Green River Basin of Wyoming and oil reserves in Bohai Bay offshore China. Ultra Petroleum Corp has a market cap of $6.15 billion; its shares were traded at around $40.17 with a P/E ratio of 16.41 and P/S ratio of 10.85. Ultra Petroleum Corp had an annual average earning growth of 48.6% over the past 5 years.

Reduced: FCStone Group Inc. (FCSX)

Ron Baron reduced to his holdings in FCStone Group Inc. by 77.47%. His sale prices were between $2.29 and $9.8, with an estimated average price of $4.9. The impact to his portfolio due to this sale was -0.02%. Ron Baron still held 368,507 shares as of 12/31/2008.

FCSTONE GROUP INC is an integrated commodity risk management company that provides risk management consulting and transaction execution services to commercial commodity intermediaries end users and producers. Their expertise in the commodities markets comes from more than 75 years of experience and has culminated in the Integrated Risk Management Program and other specialized trading services.They are committed to serving the best interests of our shareholders. FCStone Group Inc. has a market cap of $136.5 million; its shares were traded at around $4.62 with a P/E ratio of 3.98 and P/S ratio of 0.4.

Reduced: Brookdale Senior Living Inc. (BKD)

Ron Baron reduced to his holdings in Brookdale Senior Living Inc. by 41.37%. His sale prices were between $3.15 and $11.8, with an estimated average price of $6.2. The impact to his portfolio due to this sale was -0.03%. Ron Baron still held 1,500,000 shares as of 12/31/2008.

Brookdale Senior Living Inc. is a leading owner and operator of senior living facilities throughout the United States. The Company is committed to providing an exceptional living experience through properties that are designed purpose-built and operated to provide the highest-quality service care and living accommodations for residents. The Company owns and operates independent assisted and dementia-care facilities. Brookdale Senior Living Inc. has a market cap of $676.87 million; its shares were traded at around $5.62 with and P/S ratio of 0.37.

Reduced: HLTH Corp. (HLTH)

Ron Baron reduced to his holdings in HLTH Corp. by 97.61%. His sale prices were between $7.9 and $10.22, with an estimated average price of $8.8. The impact to his portfolio due to this sale was -0.03%. Ron Baron still held 289,818 shares as of 12/31/2008.

HLTH Corporation's businesses are comprised of WebMD Health Corp. ViPS and Porex. WebMD provides health information services for consumers physicians healthcare professionals employers and health plans through its public and private online portals and health-focused publications. ViPS provides healthcare data management analytics decision- support and process automation solutions and related information technology services to governmental Blue Cross Blue Shield and commercial healthcare payers. ViPS' solutions and services help its clients improve patient outcomes increase customer satisfaction and reduce costs. Porex is a developer manufacturer and distributor of proprietary porous plastic products and components used in healthcare industrial and consumer applications. Emdeon owns a minority interest in Emdeon Business Services which provides solutions that automate the revenue and payment cycle for healthcare payers and providers. HLTH Corp. has a market cap of $2.18 billion; its shares were traded at around $11.68 with a P/E ratio of 53.32 and P/S ratio of 4.13. HLTH Corp. had an annual average earning growth of 11.4% over the past 5 years.

Reduced: Willbros Group Inc. (WG)

Ron Baron reduced to his holdings in Willbros Group Inc. by 33.54%. His sale prices were between $6.36 and $16.34, with an estimated average price of $10.5. The impact to his portfolio due to this sale was -0.03%. Ron Baron still held 1,260,400 shares as of 12/31/2008.

Willbros Group Inc. is an independent contractor serving the oil gasand power industries providing construction engineering and specialty services to industry and government entities worldwide. They place particular emphasis on projects in developing countries where they believe their experience gives them a competitive advantage. Willbros Group Inc. has a market cap of $424.53 million; its shares were traded at around $9.7 with a P/E ratio of 6.9 and P/S ratio of 0.45.

Reduced: Nuance Communications Inc. (NUAN)

Ron Baron reduced to his holdings in Nuance Communications Inc. by 71.82%. His sale prices were between $7.2 and $10.37, with an estimated average price of $9.1. The impact to his portfolio due to this sale was -0.03%. Ron Baron still held 388,817 shares as of 12/31/2008.

Nuance Communications Inc. is the leading provider of speech and imaging solutions for businesses and consumers around the world. Its technologies applications and services make the user experience more compelling by transforming the way people interact with information and how they create share and use documents. Nuance Communications Inc. has a market cap of $2.66 billion; its shares were traded at around $10.12 with a P/E ratio of 16.73 and P/S ratio of 3.06.

Reduced: ENERGYSOLUTIONS INC (ES)

Ron Baron reduced to his holdings in ENERGYSOLUTIONS INC by 36.65%. His sale prices were between $3.69 and $10.24, with an estimated average price of $5.2. The impact to his portfolio due to this sale was -0.04%. Ron Baron still held 2,050,000 shares as of 12/31/2008.

ENERGYSOLUTIONS is a full-service nuclear fuel cycle company that is committed to environmental protection energy independence and a safe and growing industry. With their dedication to environmental friendliness EnergySolutions is solving the problems of global warming and energy dependence in addition to cleaning up the environmental consequences of the cold war. EnergySolutions has the unique strategies resources technology human capital and financial means to succeed in the industry. Their unparalleled combination of US experience and experience derived from practical implementation of nuclear projects throughout the world has made EnergySolutions a vibrant smart and innovative leader of nuclear services around the globe. ENERGYSOLUTIONS INC has a market cap of $429.16 million; its shares were traded at around $5.08 with a P/E ratio of 8.1 and P/S ratio of 0.39. The dividend yield of ENERGYSOLUTIONS INC stocks is 2.06%.

Reduced: Emeritus Corp (ESC)

Ron Baron reduced to his holdings in Emeritus Corp by 37.78%. His sale prices were between $5.2 and $14.64, with an estimated average price of $9.7. The impact to his portfolio due to this sale was -0.05%. Ron Baron still held 1,525,000 shares as of 12/31/2008.

Emeritus is one of the largest and most experienced national operators ofassisted living residential communities. Assisted living communities provide a residential housing alternative for senior citizens who need help with the activities of daily living with an emphasis on assisted living and personal care services. Emeritus Corp has a market cap of $347.44 million; its shares were traded at around $7.96 with and P/S ratio of 0.64.

Reduced: IHS Inc. (IHS)

Ron Baron reduced to his holdings in IHS Inc. by 43.82%. His sale prices were between $32.46 and $38.9, with an estimated average price of $35.8. The impact to his portfolio due to this sale was -0.08%. Ron Baron still held 504,158 shares as of 12/31/2008.

IHS Inc. is one of the leading global providers of critical technical information decision-support tools and related services to customers in a number of industries including energy defense aerospace construction electronics and automotive through two operating segments Engineering and Energy. Engineering and Energy segments each represent approximately one-half of IHS' total revenues. Customers are served ranging from governments and large multinational corporations to smaller companies and technical professionals. Customers rely on offerings to facilitate decision making support key processes and improve productivity. IHS Inc. has a market cap of $2.85 billion; its shares were traded at around $43.95 with a P/E ratio of 28.05 and P/S ratio of 3.38.

Reduced: Stanley Inc. (SXE)

Ron Baron reduced to his holdings in Stanley Inc. by 30.04%. His sale prices were between $29.36 and $35.54, with an estimated average price of $31.7. The impact to his portfolio due to this sale was -0.08%. Ron Baron still held 800,000 shares as of 12/31/2008.

STANLEY INC is a provider of information technology services and solutions to U.S. defense and federal civilian government agencies. Stanley offers its customers systems integration solutions and expertise to support their mission-essential needs at any stage of program product development or business lifecycle through five service areas: systems engineering enterprise integration operational logistics business process outsourcing and advanced engineering and technology. Stanley Inc. has a market cap of $733.26 million; its shares were traded at around $31.69 with a P/E ratio of 21.37 and P/S ratio of 1.21.

Reduced: Gaylord Entertainment Company (GET)

Ron Baron reduced to his holdings in Gaylord Entertainment Company by 44.36%. His sale prices were between $6.01 and $21.41, with an estimated average price of $13.1. The impact to his portfolio due to this sale was -0.08%. Ron Baron still held 1,750,000 shares as of 12/31/2008.

Gaylord Entertainment is a diversified entertainment company operating principally in three segments: hospitality and attractions creative content and interactive media. The company's other interests consist primarily of their investments in Opry Mills Bass Pro Shops and the Nashville Predators. Gaylord Entertainment Company has a market cap of $479.23 million; its shares were traded at around $8.93 with a P/E ratio of 1173 and P/S ratio of 0.64. Gaylord Entertainment Company had an annual average earning growth of 21.8% over the past 5 years.

Reduced: Cohen & Steers Inc. (CNS)

Ron Baron reduced to his holdings in Cohen & Steers Inc. by 52.79%. His sale prices were between $8.62 and $20.67, with an estimated average price of $13.5. The impact to his portfolio due to this sale was -0.08%. Ron Baron still held 1,397,490 shares as of 12/31/2008.

Cohen & Steers Inc. is a leading manager of income-oriented equity portfolios and specializes in common and preferred stocks of REITs and utilities as well as other preferred securities. Based in New York City the firm serves individual and institutional investors through a wide range of open-end funds closed-end funds and separate accounts. Cohen & Steers Inc. has a market cap of $488.17 million; its shares were traded at around $10.62 with a P/E ratio of 13.49 and P/S ratio of 2.63. The dividend yield of Cohen & Steers Inc. stocks is 3.41%.

Reduced: Sonic Corp. (SONC)

Ron Baron reduced to his holdings in Sonic Corp. by 26.42%. His sale prices were between $6.56 and $12.45, with an estimated average price of $10.1. The impact to his portfolio due to this sale was -0.09%. Ron Baron still held 2,870,400 shares as of 12/31/2008.

Sonic Corp. operates and franchises one of the largest chain ofdrive-in restaurants in the United States. Sonic restaurants offermade-to-order hamburgers and other sandwiches and feature Sonic signatureitems such as footlong coney cheese dogs hand-battered onion rings tatertots specialty soft drinks including cherry limeades and slushes andfrozen desserts. At a typical Sonic restaurant a customer drives into oneof 24 to 36 covered drive-in spaces orders through an intercom and has the food delivered by a carhop within an average of four minutes. Sonic Corp. has a market cap of $638.32 million; its shares were traded at around $9.53 with a P/E ratio of 11.98 and P/S ratio of 0.79. Sonic Corp. had an annual average earning growth of 14.6% over the past 10 years. GuruFocus rated Sonic Corp. the business predictability rank of 4.5-star.

Reduced: Cheesecake Factory Inc. (CAKE)

Ron Baron reduced to his holdings in Cheesecake Factory Inc. by 25.19%. His sale prices were between $5.42 and $10.96, with an estimated average price of $8.3. The impact to his portfolio due to this sale was -0.1%. Ron Baron still held 4,203,703 shares as of 12/31/2008.

The Cheesecake Factory operates many upscale high volume casual dining restaurants. They offer over 200 menu items including appetizers pizza seafood steaks chicken burgers pasta salads sandwiches omelets and signature desserts including over 40 varieties of cheesecake. Cheesecake Factory Inc. has a market cap of $572.67 million; its shares were traded at around $8.49 with a P/E ratio of 10.54 and P/S ratio of 0.38. Cheesecake Factory Inc. had an annual average earning growth of 21.8% over the past 10 years. GuruFocus rated Cheesecake Factory Inc. the business predictability rank of 4.5-star.

Reduced: CarMax Inc. (KMX)

Ron Baron reduced to his holdings in CarMax Inc. by 81.93%. His sale prices were between $6.52 and $10.62, with an estimated average price of $8.6. The impact to his portfolio due to this sale was -0.1%. Ron Baron still held 1,612,696 shares as of 12/31/2008.

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 $2.05 billion; its shares were traded at around $8.88 with a P/E ratio of 29.94 and P/S ratio of 0.25. CarMax Inc. had an annual average earning growth of 21.9% over the past 5 years.

Reduced: AeroVironment Inc. (AVAV)

Ron Baron reduced to his holdings in AeroVironment Inc. by 36.67%. His sale prices were between $27.98 and $35.92, with an estimated average price of $32.1. The impact to his portfolio due to this sale was -0.12%. Ron Baron still held 950,000 shares as of 12/31/2008.

Building on a history of technological innovation AEROVIRONMENT INC. designs develops produces and supports an advanced portfolio of Unmanned Aircraft Systems and efficient electric energy systems. The company's small UAS are used extensively by agencies of the U.S. Department of Defense and increasingly by allied military services to provide situational awareness to tactical operating units through real-time airborne reconnaissance surveillance and target acquisition. AV?s PosiCharge fast charge systems eliminate battery changing for electric industrial vehicles in factories airports and distribution centers. AeroVironment Inc. has a market cap of $827.28 million; its shares were traded at around $40.03 with a P/E ratio of 32.4 and P/S ratio of 3.83.

Reduced: SVB Financial Group (SIVB)

Ron Baron reduced to his holdings in SVB Financial Group by 37.23%. His sale prices were between $24.41 and $51.45, with an estimated average price of $39.9. The impact to his portfolio due to this sale was -0.12%. Ron Baron still held 1,302,650 shares as of 12/31/2008.

SVB Financial Group is an international financial services holding company serving the technology life science private equity and premium wine industries primarily through the following subsidiaries: Silicon Valley Bank SVB Capital SVB Global Financial Services SVB Alliant SVB Securities SVB Asset Management SVB India Advisors SVB Europe Advisors. SVB Financial Group has a market cap of $755.81 million; its shares were traded at around $19.61 with a P/E ratio of 9.49 and P/S ratio of 1.27. SVB Financial Group had an annual average earning growth of 15.1% over the past 10 years. GuruFocus rated SVB Financial Group the business predictability rank of 2-star.

Reduced: Core Laboratories N.V. Common SharesNLG (CLB)

Ron Baron reduced to his holdings in Core Laboratories N.V. Common SharesNLG by 23.66%. His sale prices were between $51.51 and $74.8, with an estimated average price of $62.8. The impact to his portfolio due to this sale was -0.12%. Ron Baron still held 927,505 shares as of 12/31/2008.

Based in the Netherlands Core Laboratories provides geological andenvironmental analysis services and manufactures precise measurementequipment. The company provides basic and advanced reservoir rock and fluidanalyses and other geological services to the oil industry. It providesinformation that helps oil companies make decisions regarding the presenceand amount of hydrocarbon accumulations. The company's manufacturing operations include the design and production of laboratory equipment used in the petroleum industry. Core Laboratories N.V. Common SharesNLG has a market cap of $1.56 billion; its shares were traded at around $64.55 with a P/E ratio of 11.55 and P/S ratio of 2.32. The dividend yield of Core Laboratories N.V. Common SharesNLG stocks is 0.59%. Core Laboratories N.V. Common SharesNLG had an annual average earning growth of 14.2% over the past 10 years.

Reduced: Chemed Corp. (CHE)

Ron Baron reduced to his holdings in Chemed Corp. by 50.54%. His sale prices were between $31.99 and $43.72, with an estimated average price of $39.2. The impact to his portfolio due to this sale was -0.16%. Ron Baron still held 825,623 shares as of 12/31/2008.

Chemed Corporation is the nation's largest provider of end-of-life hospice care services through its VITAS Healthcare Corporation subsidiary. Chemed also maintains a presence in the residential and commercial repair-and-maintenance industry through two subsidiaries. Roto-Rooter is North America's largest provider of plumbing and drain cleaning services. Service America Network Inc. provides major-appliance and heating/air-conditioning repair maintenance and replacement services. Chemed Corp. has a market cap of $942.67 million; its shares were traded at around $41.61 with a P/E ratio of 13.46 and P/S ratio of 0.86. The dividend yield of Chemed Corp. stocks is 0.57%. Chemed Corp. had an annual average earning growth of 14.4% over the past 10 years.

Reduced: Encore Acquisition Company (EAC)

Ron Baron reduced to his holdings in Encore Acquisition Company by 21.8%. His sale prices were between $19.64 and $31.15, with an estimated average price of $24.6. The impact to his portfolio due to this sale was -0.22%. Ron Baron still held 4,138,663 shares as of 12/31/2008.

Encore is an organized rapidly growing independent energy companyengaged in the acquisition development and exploitation of North American oil and natural gas reserves. Its oil and natural gas reserves are concentrated in fields located in the Williston Basin of Montana and North Dakota the Permian Basin of Texas and New Mexico the Anadarko Basin of Oklahoma and the Powder River Basin of Montana. Encore Acquisition Company has a market cap of $1.56 billion; its shares were traded at around $26.42 with a P/E ratio of 6.47 and P/S ratio of 2.07. Encore Acquisition Company had an annual average earning growth of 21.3% over the past 5 years.

Reduced: Jefferies Group Inc. (JEF)

Ron Baron reduced to his holdings in Jefferies Group Inc. by 48.73%. His sale prices were between $8.73 and $16.71, with an estimated average price of $13.3. The impact to his portfolio due to this sale was -0.27%. Ron Baron still held 4,228,400 shares as of 12/31/2008.

Jefferies Group Inc. is a holding company whose affiliated companies including its principal operating subsidiary Jefferies & Company Inc. offer a variety of services for institutional investors and middle-market companies. Subsidiaries of Jefferies Group Inc. together comprise a full-service investment bank and institutional securities firm focused on the middle market. Jefferies offers financial advisory capital raising mergers and acquisitions and restructuring services to small and mid-cap companies. Jefferies Group Inc. has a market cap of $2.3 billion; its shares were traded at around $12.33 with and P/S ratio of 1.37. Jefferies Group Inc. had an annual average earning growth of 21.9% over the past 10 years.

Reduced: CME Group Inc. (CME)

Ron Baron reduced to his holdings in CME Group Inc. by 35.2%. His sale prices were between $174.74 and $390.8, with an estimated average price of $245.3. The impact to his portfolio due to this sale was -0.27%. Ron Baron still held 394,334 shares as of 12/31/2008.

Chicago Mercantile Exchange Holdings is the parent company of Chicago Mercantile Exchange Inc the largest futures exchange in the United States based on notional value trading volume and open interest. As an international marketplace CME brings together buyers and sellers on its trading floors and GLOBEX around-the-clock electronic trading platform. CME offers futures contracts and options on futures primarily in four product areas: interest rates stock indexes foreign exchange and commodities. CME Group Inc. has a market cap of $12.66 billion; its shares were traded at around $190.63 with a P/E ratio of 11.1 and P/S ratio of 4.94. The dividend yield of CME Group Inc. stocks is 2.43%. CME Group Inc. had an annual average earning growth of 28.5% over the past 5 years.

Reduced: MSC Industrial Direct Co. Inc. (MSM)

Ron Baron reduced to his holdings in MSC Industrial Direct Co. Inc. by 23.08%. His sale prices were between $28.39 and $39.42, with an estimated average price of $34.1. The impact to his portfolio due to this sale was -0.27%. Ron Baron still held 3,342,635 shares as of 12/31/2008.

MSC Industrial Direct Company Inc. is one of the largest direct marketers of a broad range of industrial products to small and mid-sized industrial customers throughout the United States. The company distributes a full line of industrial products such as cutting tools abrasives measuring instruments machine tool accessories safety equipment fasteners welding supplies and electrical supplies intended to satisfy the customers' maintenance repair and operations supplies requirements. MSC Industrial Direct Co. Inc. has a market cap of $2.31 billion; its shares were traded at around $35.53 with a P/E ratio of 12.22 and P/S ratio of 1.3. The dividend yield of MSC Industrial Direct Co. Inc. stocks is 2.15%. MSC Industrial Direct Co. Inc. had an annual average earning growth of 17.4% over the past 10 years.

Reduced: Polo Ralph Lauren Corp. (RL)

Ron Baron reduced to his holdings in Polo Ralph Lauren Corp. by 42.89%. His sale prices were between $36 and $49.49, with an estimated average price of $44.4. The impact to his portfolio due to this sale was -0.38%. Ron Baron still held 2,061,504 shares as of 12/31/2008.

Polo Ralph Lauren Corp. is in the design marketing and distribution of premium lifestyle products. The company's brand names which include Polo Polo by Ralph Lauren Ralph Lauren Purple Label Polo Sport Ralph Lauren RALPH Lauren Polo Jeans Co. RL Chaps and Club Monaco among others constitute one of the world's most widely recognized families of consumer brands. Polo Ralph Lauren Corp. has a market cap of $4.15 billion; its shares were traded at around $37.27 with a P/E ratio of 9.21 and P/S ratio of 0.89. The dividend yield of Polo Ralph Lauren Corp. stocks is 0.48%. Polo Ralph Lauren Corp. had an annual average earning growth of 12.4% over the past 10 years. GuruFocus rated Polo Ralph Lauren Corp. the business predictability rank of 4-star.

Sold Out: Raser Technologies Inc. (RZ)

Ron Baron sold out his holdings in Raser Technologies Inc.. His sale prices were between $3.2 and $4.73, with an estimated average price of $4.1. The impact to his portfolio due to this sale was less than 0.01%.

Raser Technologies is an R&D company that develops and licenses advanced electric motor and controller technology to improve operational performance of electric motors and controllers. Its new proprietary technology called Symetron has the potential to improve performance in an array of commercial military industrial and aerospace applications. The company's headquarters are in Provo Utah. In the company's motor lab engineers conduct advanced motor research including the design assembly and testing of its own new motor designs and test demonstration installations and enhancements on behalf of its customers. Raser Technologies Inc. has a market cap of $274.93 million; its shares were traded at around $4.07 with and P/S ratio of 859.15.

Sold Out: WellCare Health Plans Inc. (WCG)

Ron Baron sold out his holdings in WellCare Health Plans Inc.. His sale prices were between $7.6 and $27.2, with an estimated average price of $16.3. The impact to his portfolio due to this sale was less than 0.01%.

WellCare Health Plans Inc. provides managed care services targeted exclusively to government-sponsored healthcare programs focusing on Medicaid and Medicare. WellCare provides high-quality affordable healthcare services to members in Florida New York Connecticut Illinois and Indiana. WellCare Health Plans Inc. has a market cap of $674.8 million; its shares were traded at around $15.57 with and P/S ratio of 0.13.

Sold Out: Thomas & Betts Corp. (TNB)

Ron Baron sold out his holdings in Thomas & Betts Corp.. His sale prices were between $17.39 and $24.79, with an estimated average price of $21.8. The impact to his portfolio due to this sale was less than 0.01%.

Thomas & Betts Corporation is a leading manufacturer of connectors and components for worldwide electrical and electronics markets. Thomas & Betts operates manufacturing distribution and office facilities around the globe. The company designs manufactures and sells components used inassembling maintaining and repairing electrical electronic andcommunications systems. Thomas & Betts Corp. has a market cap of $1.5 billion; its shares were traded at around $25.99 with a P/E ratio of 7.69 and P/S ratio of 0.61. Thomas & Betts Corp. had an annual average earning growth of 40.5% over the past 5 years.

Sold Out: Trimble Navigation Ltd. (TRMB)

Ron Baron sold out his holdings in Trimble Navigation Ltd.. His sale prices were between $15.98 and $21.03, with an estimated average price of $19.3. The impact to his portfolio due to this sale was less than 0.01%.

Trimble applies technology to make field and mobile workers in businesses and government significantly more productive. Solutions are focused on applications requiring position or location-including surveying construction agriculture fleet and asset management public safety and mapping. In addition to utilizing positioning technologies such as GPS lasers and optics Trimble solutions may include software content specific to the needs of the user. Wireless technologies are utilized to deliver the solution to the user and to ensure a tight coupling of the field and the back office. Trimble Navigation Ltd. has a market cap of $1.82 billion; its shares were traded at around $15.33 with a P/E ratio of 11.37 and P/S ratio of 1.37. Trimble Navigation Ltd. had an annual average earning growth of 25.5% over the past 5 years.

Sold Out: Tractor Supply Company (TSCO)

Ron Baron sold out his holdings in Tractor Supply Company. His sale prices were between $34.48 and $41.56, with an estimated average price of $37.4. The impact to his portfolio due to this sale was less than 0.01%.

Tractor Supply Company is a specialty retailer which supplies the daily farming and maintenance needs of its target customers: hobby part-time and full-time farmers and ranchers as well as rural customers contractors and tradesmen. Tractor Supply Company has a market cap of $1.28 billion; its shares were traded at around $32.7 with a P/E ratio of 14.65 and P/S ratio of 0.43. Tractor Supply Company had an annual average earning growth of 23% over the past 10 years. GuruFocus rated Tractor Supply Company the business predictability rank of 5-star.

Sold Out: PriceSmart Inc. (PSMT)

Ron Baron sold out his holdings in PriceSmart Inc.. His sale prices were between $11.6 and $20.4, with an estimated average price of $15.1. The impact to his portfolio due to this sale was less than 0.01%.

PriceSmart Inc. has a market cap of $568.24 million; its shares were traded at around $18.52 with a P/E ratio of 12.97 and P/S ratio of 0.51. The dividend yield of PriceSmart Inc. stocks is 1.67%.

Sold Out: EXCO Resources Inc. (XCO)

Ron Baron sold out his holdings in EXCO Resources Inc.. His sale prices were between $5.09 and $9.35, with an estimated average price of $7.6. The impact to his portfolio due to this sale was less than 0.01%.

EXCO Resources Inc. is an independent oil and natural gas company engaged in the acquisition development and exploitation of onshore North American oil and natural gas properties. EXCO targets acquisitions of onshore North American oil and natural gas properties with particular emphasis on Appalachia Eastern and Western Texas Mid Continent and the Rocky Mountain regions. The Company's primary goal is to build value for our shareholders by acquiring quality properties and to enhance the value of assets through control of operations property development and reduction of costs. EXCO Resources Inc. has a market cap of $2.31 billion; its shares were traded at around $11.2 with a P/E ratio of 11.8 and P/S ratio of 2.55.

Sold Out: UTi Worldwide Inc. (UTIW)

Ron Baron sold out his holdings in UTi Worldwide Inc.. His sale prices were between $8.87 and $13.21, with an estimated average price of $11.5. The impact to his portfolio due to this sale was less than 0.01%.

UTI Worldwide Inc. is a global non-asset based supply chain management business providing supply chain logistics services and planning and optimization solutions. Its services include freight forwarding customs brokerage and warehousing services which include the coordination of shipping and the storage of raw materials supplies components and finished goods. Through its supply chain planning and optimization services the company assists its clients in designing and implementingsystems that improve the predictability and visibility. A UTi Worldwide Inc. has a market cap of $1.29 billion; its shares were traded at around $12.29 with a P/E ratio of 12.14 and P/S ratio of 0.86. The dividend yield of UTi Worldwide Inc. stocks is 0.47%. UTi Worldwide Inc. had an annual average earning growth of 25.9% over the past 5 years.

Sold Out: Net 1 UEPS Technologies Inc. (UEPS)

Ron Baron sold out his holdings in Net 1 UEPS Technologies Inc.. His sale prices were between $8.76 and $16.55, with an estimated average price of $12.4. The impact to his portfolio due to this sale was less than 0.01%.

Net 1 U.E.P.S. Technologies provides its universal electronic payment system as an alternative payment system for the unbanked and under-banked populations of developing economies. Net 1 believes that it is the first company worldwide to implement a system that can enable the estimated four billion people who generally have limited or no access to a bank account to enter affordably into electronic transactions with each other government agencies employers merchants and other financial service providers. Net 1 UEPS Technologies Inc. has a market cap of $795.99 million; its shares were traded at around $15.32 with a P/E ratio of 8.21 and P/S ratio of 3.13.

Sold Out: Varian Medical Systems Inc. (VAR)

Ron Baron sold out his holdings in Varian Medical Systems Inc.. His sale prices were between $34 and $45.51, with an estimated average price of $39.4. The impact to his portfolio due to this sale was less than 0.01%.

Varian Medical Systems Inc. of Palo Alto California is the world's leading supplier of equipment and software for treating cancer. The company is also a premier supplier of components including X-ray tubes and flat-panel detectors for medical scientific and industrial imaging. Varian Medical Systems employs approximately three thousand nine hundtre people who are located at manufacturing sites in North America and Europe and in its 55 sales and support offices around the world. Varian Medical Systems Inc. has a market cap of $4.83 billion; its shares were traded at around $37.17 with a P/E ratio of 16.34 and P/S ratio of 2.34. Varian Medical Systems Inc. had an annual average earning growth of 19.6% over the past 10 years.

Sold Out: Steiner Leisure Ltd. (STNR)

Ron Baron sold out his holdings in Steiner Leisure Ltd.. His sale prices were between $19.67 and $29.51, with an estimated average price of $25.2. The impact to his portfolio due to this sale was less than 0.01%.

Steiner Leisure Limited is the leading worldwide provider of spa services and skin and hair care products on board cruise ships. The company strives to create a relaxing and therapeutic environment where customers can receive body and facial treatments and hair styling comparable in quality to the finest land-based spas and salons. Also the company develops and markets premium priced high quality personal care products that are soldprimarily in connection with the services provide. The company operates four post-secondary schools offering degree and non-degree programs. Steiner Leisure Ltd. has a market cap of $440.39 million; its shares were traded at around $27.44 with a P/E ratio of 9.95 and P/S ratio of 0.83. Steiner Leisure Ltd. had an annual average earning growth of 12.9% over the past 10 years. GuruFocus rated Steiner Leisure Ltd. the business predictability rank of 5-star.

Sold Out: Vornado Realty Trust (VNO)

Ron Baron sold out his holdings in Vornado Realty Trust. His sale prices were between $43.48 and $75.65, with an estimated average price of $59.1. The impact to his portfolio due to this sale was less than 0.01%.

Vornado Realty Trust is a fully-integrated real estate investment trust. The company owns directly or indirectly the following: Office Building Properties; Retail Properties; Merchandise Mart Properties; Temperature Controlled Logistics; and Other Real Estate Investments. It is one of the largest property owners in New York City. Vornado Realty Trust has a market cap of $8.17 billion; its shares were traded at around $42.79 with a P/E ratio of 9.55 and P/S ratio of 2.5. The dividend yield of Vornado Realty Trust stocks is 7.18%. Vornado Realty Trust had an annual average earning growth of 13.5% over the past 10 years. GuruFocus rated Vornado Realty Trust the business predictability rank of 2.5-star.

Sold Out: Smart Balance Inc. (SMBL)

Ron Baron sold out his holdings in Smart Balance Inc.. His sale prices were between $4.93 and $7.16, with an estimated average price of $6.1. The impact to his portfolio due to this sale was less than 0.01%.

SMART BALANCE INC. is committed to providing superior tasting heart healthier alternatives in every category it enters by avoiding trans fats naturally balancing fats and/or reducing saturated fats total fat and cholesterol. The company's products include Smart Balance Buttery Spreads Milk Butter Blend Sticks Cream Cheese Peanut Butter Microwave Popcorn Cooking Oil Mayonnaise Non-Stick Cooking Spray and Cheese. Smart Balance Inc. is one of the five fastest growing food companies in the United States according to Nielsen sales figures. Smart Balance Inc. has a market cap of $404.6 million; its shares were traded at around $5.95 with and P/S ratio of 3.64.

Sold Out: SL Green Realty Corp. (SLG)

Ron Baron sold out his holdings in SL Green Realty Corp.. His sale prices were between $11.19 and $54.16, with an estimated average price of $29.3. The impact to his portfolio due to this sale was less than 0.01%.

SL Green Realty Corporation is a fully-integrated self administered and self-managed real estate investment trust and was formed for the purpose ofcontinuing the commercial real estate business of SL Green. For more than 18 years SL Green has been engaged in the business of owning managing leasing acquiring and repositioning Class B office properties in Manhattan. SL Green Realty Corp. has a market cap of $1.03 billion; its shares were traded at around $14.71 with a P/E ratio of 2.92 and P/S ratio of 0.92. The dividend yield of SL Green Realty Corp. stocks is 8.3%. SL Green Realty Corp. had an annual average earning growth of 11.5% over the past 10 years. GuruFocus rated SL Green Realty Corp. the business predictability rank of 3.5-star.

Sold Out: Seaspan Corp. (SSW)

Ron Baron sold out his holdings in Seaspan Corp.. His sale prices were between $4.35 and $12.2, with an estimated average price of $8.6. The impact to his portfolio due to this sale was less than 0.01%.

Seaspan owns containerships and charters them pursuant to long-term fixed-rate charters. Seaspan Corp. has a market cap of $750.07 million; its shares were traded at around $10.75 with a P/E ratio of 9.58 and P/S ratio of 7.33. The dividend yield of Seaspan Corp. stocks is 16.81%.

Sold Out: inVentiv Health Inc. (VTIV)

Ron Baron sold out his holdings in inVentiv Health Inc.. His sale prices were between $9.37 and $12.08, with an estimated average price of $11. The impact to his portfolio due to this sale was less than 0.01%.

inVentiv Health is the leading provider of commercialization and complementary services to the global pharmaceutical life sciences and biotechnology industries. inVentiv delivers its customized clinical sales marketing and communications solutions through its three core business segments: inVentiv Clinical inVentiv Communications and inVentiv Commercial. inVentiv Health Inc. has a market cap of $345.92 million; its shares were traded at around $10.8 with a P/E ratio of 6.89 and P/S ratio of 0.35. inVentiv Health Inc. had an annual average earning growth of 43.2% over the past 5 years.

Sold Out: comScore Inc. (SCOR)

Ron Baron sold out his holdings in comScore Inc.. His sale prices were between $7.41 and $15.28, with an estimated average price of $11.2. The impact to his portfolio due to this sale was less than 0.01%.

ComScore Inc. is a global leader in measuring the digital world. This capability is based on a massive global cross-section of more than two million consumers who have given comScore permission to confidentially capture their browsing and transaction behavior including online and offline purchasing. comScore panelists also participate in survey research that captures and integrates their attitudes and intentions. Through its proprietary technology comScore measures what matters across a broad spectrum of behavior and attitudes. comScore analysts apply this deep knowledge of customers and competitors to help clients design powerful marketing strategies and tactics that deliver superior ROI. comScore services are used by global leaders such as AOL Microsoft Yahoo! Verizon Best Buy The Newspaper Association of America Tribune Interactive ESPN Fox Sports Nestle MBNA Starcom USA Universal McCann the United States Postal Service Merck and Expedia. comScore Inc. has a market cap of $383.18 million; its shares were traded at around $8.54 with a P/E ratio of 32.12 and P/S ratio of 4.4.

Sold Out: Rex Energy Corp. (REXX)

Ron Baron sold out his holdings in Rex Energy Corp.. His sale prices were between $2.67 and $7.65, with an estimated average price of $5.1. The impact to his portfolio due to this sale was less than 0.01%.

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 $80.09 million; its shares were traded at around $1.88 with a P/E ratio of 7.55 and P/S ratio of 1.39.

Sold Out: NANOSPHERE, INC. (NSPH)

Ron Baron sold out his holdings in NANOSPHERE, INC.. His sale prices were between $3.44 and $6.79, with an estimated average price of $5.1. The impact to his portfolio due to this sale was less than 0.01%.

Nanosphere develops manufactures and markets an advanced molecular diagnostics platform the Verigene(r) System for direct genomic and ultra-sensitive protein detection. It is easy to use and cost effective platform enables simple low cost and highly sensitive genomic and protein testing on a single platform. Nanosphere is based in Northbrook IL. NANOSPHERE, INC. has a market cap of $107.59 million; its shares were traded at around $4.08 with and P/S ratio of 92.19.

Sold Out: Delta Petroleum Corp. (DPTR)

Ron Baron sold out his holdings in Delta Petroleum Corp.. His sale prices were between $4.36 and $9.41, with an estimated average price of $6.4. The impact to his portfolio due to this sale was less than 0.01%.

DELTA PETROLEUM CORP. is engaged in the acquisition exploration development and production of oil and gas properties. As of June 30 1996 the Company had varying interests in 90 gross (14.88 net) productive wells located in four states. The Company has undeveloped properties in five states including interests in four federal units and one lease offshore California near Santa Barbara. The Company operates 21 of the wells and the remaining wells are operated by independent operators. All wells are operated under contracts that are standard in the industry. Delta Petroleum Corp. has a market cap of $558.09 million; its shares were traded at around $4 with and P/S ratio of 3.4.

Sold Out: Douglas Emmett Inc. (DEI)

Ron Baron sold out his holdings in Douglas Emmett Inc.. His sale prices were between $8.79 and $16.02, with an estimated average price of $12.6. The impact to his portfolio due to this sale was less than 0.01%.

DOUGLAS EMMETT INC is a fully integrated self-administered and self-managed real estate investment trust and one of the largest owners and operators of high-quality office and multifamily properties located in premier submarkets in California and Hawaii. The Company?s properties are concentrated in ten submarkets Brentwood Olympic Corridor Century City Santa Monica Beverly Hills Westwood Sherman Oaks/Encino Warner Center/Woodland Hills Burbank and Honolulu. The Company focuses on owning and acquiring a substantial share of top-tier office properties and premier multifamily communities in neighborhoods that possess significant supply constraints high-end executive housing and key lifestyle amenities. Douglas Emmett Inc. has a market cap of $1.32 billion; its shares were traded at around $9.35 with a P/E ratio of 8.85 and P/S ratio of 2.55. The dividend yield of Douglas Emmett Inc. stocks is 6.89%.

Sold Out: City National Corp. (CYN)

Ron Baron sold out his holdings in City National Corp.. His sale prices were between $35.38 and $52.71, with an estimated average price of $45.7. The impact to his portfolio due to this sale was less than 0.01%.

City National Corporation conducts its operations through its primary subsidiary City National Bank. Through its subsidiary the company conducts business in Southern and in Northern California. City National Bank operates banking offices in Los Angeles Orange San Diego Riverside Ventura San Bernardino San Mateo and San Francisco counties as well as a loan production office in Sacramento and an offshore office which takes deposits. City National Corp. has a market cap of $1.69 billion; its shares were traded at around $31.34 with a P/E ratio of 13.67 and P/S ratio of 1.61. The dividend yield of City National Corp. stocks is 2.85%. City National Corp. had an annual average earning growth of 9.2% over the past 10 years. GuruFocus rated City National Corp. the business predictability rank of 5-star.

Sold Out: Carrizo Oil & Gas Inc. (CRZO)

Ron Baron sold out his holdings in Carrizo Oil & Gas Inc.. His sale prices were between $12.85 and $23.39, with an estimated average price of $17.8. The impact to his portfolio due to this sale was less than 0.01%.

Carrizo Oil & Gas Inc. is a Houston-based energy company actively engaged in the exploration development exploitation and production of oil and natural gas primarily in proven trends in the Barnett Shale area in North Texas and along the Texas and Louisiana onshore Gulf Coast regions. Carrizo controls significant prospective acreage blocks and utilizes advanced three-D seismic techniques to identify potential oil and gas reserves and drilling opportunities. Carrizo Oil & Gas Inc. has a market cap of $464 million; its shares were traded at around $14.49 with a P/E ratio of 8.38 and P/S ratio of 3.69. Carrizo Oil & Gas Inc. had an annual average earning growth of 12.9% over the past 5 years.

Sold Out: Casual Male Retail Group Inc. (CMRG)

Ron Baron sold out his holdings in Casual Male Retail Group Inc.. His sale prices were between $0.41 and $2.97, with an estimated average price of $1.3. The impact to his portfolio due to this sale was less than 0.01%.

Casual Male Retail Group Inc. operates Casual Male Big & Tall stores Levi's Outlet by Designs and Dockers Outlet by Designs stores Candies Outlet stores and Ecko Unltd. outlet stores located throughout the United States and Puerto Rico. (Press Release) Casual Male Retail Group Inc. has a market cap of $19.06 million; its shares were traded at around $0.4 with and P/S ratio of 0.04. Casual Male Retail Group Inc. had an annual average earning growth of 7.1% over the past 5 years.

Sold Out: Boston Properties Inc. (BXP)

Ron Baron sold out his holdings in Boston Properties Inc.. His sale prices were between $43.1 and $75.22, with an estimated average price of $58.7. The impact to his portfolio due to this sale was less than 0.01%.

Boston Properties is a fully integrated self-administered and self- managed real estate investment trust that develops redevelops acquires manages operates and owns a diverse portfolio of Class-A office industrial and hotel properties. The Company is one of the largest owners and developers of Class-A office properties in the United States concentrated in four core markets -- Boston Midtown Manhattan Washington DC and San Francisco. Boston Properties Inc. has a market cap of $5.67 billion; its shares were traded at around $41.22 with a P/E ratio of 9.76 and P/S ratio of 3.81. The dividend yield of Boston Properties Inc. stocks is 5.8%. Boston Properties Inc. had an annual average earning growth of 5.8% over the past 10 years.

Sold Out: Berry Petroleum Company (BRY)

Ron Baron sold out his holdings in Berry Petroleum Company. His sale prices were between $6.63 and $23.07, with an estimated average price of $13.9. The impact to his portfolio due to this sale was less than 0.01%.

Berry Petroleum Company is an independent energy company engaged in the production development acquisition exploitation and exploration of crude oil and natural gas. Berry's principal reserves and producing properties are located in Kern Los Angeles and Ventura Counties in California. The company is also investigating several other basins which would establish another core area and provide for additional growth opportunities and diversification of the Company's predominantly heavy oil resource base. Berry Petroleum Company has a market cap of $352.73 million; its shares were traded at around $7.92 with a P/E ratio of 2.07 and P/S ratio of 0.6. The dividend yield of Berry Petroleum Company stocks is 3.79%. Berry Petroleum Company had an annual average earning growth of 27.6% over the past 10 years. GuruFocus rated Berry Petroleum Company the business predictability rank of 3.5-star.

Sold Out: Bristow Group Inc. (BRS)

Ron Baron sold out his holdings in Bristow Group Inc.. His sale prices were between $17.66 and $26.11, with an estimated average price of $21.3. The impact to his portfolio due to this sale was less than 0.01%.

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 $805.83 million; its shares were traded at around $24.17 with a P/E ratio of 9.29 and P/S ratio of 0.8. Bristow Group Inc. had an annual average earning growth of 7.4% over the past 10 years. GuruFocus rated Bristow Group Inc. the business predictability rank of 3.5-star.

Sold Out: Sotheby's (BID)

Ron Baron sold out his holdings in Sotheby's. His sale prices were between $7.89 and $11.42, with an estimated average price of $9.3. The impact to his portfolio due to this sale was less than 0.01%.

Sotheby's Holdings Inc. is one of the world's second largest auctioneers of fine arts antiques and collectibles offering property in collecting categories among them paintings jewelry decorative arts and books. Sotheby's Holdings Inc is the parent company of Sotheby's worldwide auction businesses art-related financing and private sales activities. The Company operates in countries with principal salesrooms located in New York and London. The company also regularly conducts auctions in other salesrooms around the world including Australia Hong Kong France Italy the Netherlands Switzerland and Singapore. Sotheby's has a market cap of $616.39 million; its shares were traded at around $8.6 with a P/E ratio of 4.75 and P/S ratio of 0.67. The dividend yield of Sotheby's stocks is 6.55%. Sotheby's had an annual average earning growth of 18.6% over the past 10 years.

Sold Out: AvalonBay Communities Inc. (AVB)

Ron Baron sold out his holdings in AvalonBay Communities Inc.. His sale prices were between $45.67 and $77.68, with an estimated average price of $61.5. The impact to his portfolio due to this sale was less than 0.01%.

AvalonBay Communities Inc. is a real estate investment trust. They focus on the ownership and operation of upscale apartment communities in high barrier-to-entry markets of the United States. These markets include Northern and Southern California and selected states in the Mid-Atlantic Northeast Midwest and Pacific Northwest regions of the country. AvalonBay is the surviving corporation from the merger of Avalon Properties Inc. with and into Bay Apartment Communities Inc. AvalonBay Communities Inc. has a market cap of $3.9 billion; its shares were traded at around $44.26 with a P/E ratio of 12.39 and P/S ratio of 4.8. The dividend yield of AvalonBay Communities Inc. stocks is 7.06%. AvalonBay Communities Inc. had an annual average earning growth of 4.8% over the past 10 years.

Sold Out: Alexandria Real Estate Equities Inc. (ARE)

Ron Baron sold out his holdings in Alexandria Real Estate Equities Inc.. His sale prices were between $37.2 and $88.22, with an estimated average price of $57.8. The impact to his portfolio due to this sale was less than 0.01%.

Alexandria Real Estate Equities Inc. Landlord and Developer of Choice to the Life Science Industry is a publicly-traded real estate investment trust focused principally on the ownership operation management selective redevelopment development and acquisition of life science properties. Our properties are designed and improved for lease primarily to institutional pharmaceutical biotechnology medical device life science product service biodefense and translational medicine entities as well as governmental agencies. Alexandria Real Estate Equities Inc. has a market cap of $1.89 billion; its shares were traded at around $50.26 with a P/E ratio of 9.82 and P/S ratio of 4.67. The dividend yield of Alexandria Real Estate Equities Inc. stocks is 5.45%. Alexandria Real Estate Equities Inc. had an annual average earning growth of 8.9% over the past 5 years.

Sold Out: Apogee Enterprises Inc. (APOG)

Ron Baron sold out his holdings in Apogee Enterprises Inc.. His sale prices were between $5.92 and $10.14, with an estimated average price of $8.7. The impact to his portfolio due to this sale was less than 0.01%.

Apogee Enterprises Inc. is a leader in technologies involving the design and development of value-added glass products and services. The company is organized in two segments: Architectural products and services companies design engineer fabricate install maintain and renovate the walls of glass and windows comprising the outside skin of commercial and institutional buildings. Businesses in this segment are: Viracon the leading fabricator of coated high-performance architectural glass for global markets; Harmon Inc. one of the largest U.S. full-service building glass installation maintenance and renovation companies; Wausau Window and Wall Systems a manufacturer of custom aluminum window systems and curtainwall; and Linetec a paint and anodizing finisher of window frames and PVC shutters. Large-scale optical segment consists of Tru Vue a value-added glass and acrylic manufacturer for the custom picture framing market and a producer of optical thin film coatings fo Apogee Enterprises Inc. has a market cap of $332.92 million; its shares were traded at around $11 with a P/E ratio of 6.43 and P/S ratio of 0.38. The dividend yield of Apogee Enterprises Inc. stocks is 2.73%. Apogee Enterprises Inc. had an annual average earning growth of 1.7% over the past 10 years.

Sold Out: Acadia Realty Trust (AKR)

Ron Baron sold out his holdings in Acadia Realty Trust. His sale prices were between $9.85 and $17.63, with an estimated average price of $14.2. The impact to his portfolio due to this sale was less than 0.01%.

Acadia Realty Trust is a fully integrated self-managed and self-administered equity REIT focused primarily on the ownership acquisition redevelopment and management of neighborhood and community shopping centers. Acadia Realty Trust has a market cap of $389.88 million; its shares were traded at around $10.5 with a P/E ratio of 8.86 and P/S ratio of 3.84. The dividend yield of Acadia Realty Trust stocks is 6.97%. Acadia Realty Trust had an annual average earning growth of 9.3% over the past 5 years.

Sold Out: Assurant Inc. (AIZ)

Ron Baron sold out his holdings in Assurant Inc.. His sale prices were between $15.06 and $37.86, with an estimated average price of $26. The impact to his portfolio due to this sale was less than 0.01%.

Assurant Inc is a premier provider of specialized insurance products and related services in North America and selected other international markets. The four key businesses Assurant Employee Benefits; Assurant Health; Assurant Solutions; and Assurant Specialty Property have partnered with clients who are leaders in their industries and have built leadership positions in a number of specialty insurance market segments in the U.S. and selected international markets. The Assurant business units provide creditor placed homeowners insurance; manufactured housing homeowners insurance; debt protection administration; credit-related insurance; warranties and extended service contracts; individual health and small employer group health insurance; group dental insurance; group disability insurance; group life insurance; and pre-funded funeral insurance. Assurant Inc. has a market cap of $3.01 billion; its shares were traded at around $25.04 with a P/E ratio of 4.78 and P/S ratio of 0.35. The dividend yield of Assurant Inc. stocks is 2.18%.

Sold Out: DresserRand Group Inc. (DRC)

Ron Baron sold out his holdings in DresserRand Group Inc.. His sale prices were between $13.26 and $22.4, with an estimated average price of $18.1. The impact to his portfolio due to this sale was less than 0.01%.

Dresser-Rand Group is among the largest global suppliers of rotating equipment solutions to the worldwide oil gas petrochemical and process industries. Their services and products are used for a wide range of applications including oil and gas production high-pressure field injection and enhanced oil recovery pipelines refinery processes natural gas processing and petrochemical production. DresserRand Group Inc. has a market cap of $1.76 billion; its shares were traded at around $21.59 with a P/E ratio of 11.33 and P/S ratio of 1.05.

Sold Out: Design Within Reach Inc. (DWRI)

Ron Baron sold out his holdings in Design Within Reach Inc.. His sale prices were between $0.7 and $2.98, with an estimated average price of $1.4. The impact to his portfolio due to this sale was less than 0.01%.

Design Within Reach is an integrated multi-channel provider of distinctive modern design furnishings and accessories. Design Within Reach Inc. has a market cap of $10.27 million; its shares were traded at around $0.8 with and P/S ratio of 0.05.

Sold Out: NDS Group plc. (NNDS)

Ron Baron sold out his holdings in NDS Group plc.. His sale prices were between $44.5 and $53, with an estimated average price of $48. The impact to his portfolio due to this sale was less than 0.01%.

NDS Group plc is a leading global supplier of open end to end digital pay TV solutions for the secure delivery of entertainment and information to televison step-top boxes and IP devices.. NDS Group plc. had an annual average earning growth of 39.6% over the past 5 years.

Sold Out: 3M Company (MMM)

Ron Baron sold out his holdings in 3M Company. His sale prices were between $53.82 and $66.93, with an estimated average price of $59.7. The impact to his portfolio due to this sale was less than 0.01%.

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 $36.3 billion; its shares were traded at around $49.42 with a P/E ratio of 10.15 and P/S ratio of 1.44. The dividend yield of 3M Company stocks is 3.82%. 3M Company had an annual average earning growth of 9.6% over the past 10 years. GuruFocus rated 3M Company the business predictability rank of 2-star.

Sold Out: Macquarie Infrastructure Company LLC (MIC)

Ron Baron sold out his holdings in Macquarie Infrastructure Company LLC. His sale prices were between $2.22 and $9.71, with an estimated average price of $5.8. The impact to his portfolio due to this sale was less than 0.01%.

Macquarie owns operate and invests in a diversified group of infrastructure businesses which provide basic everyday services in the United States and other developed countries. Its initial businesses and investments consist of an airport services business (Atlantic and AvPorts) an airport parking business (PCAA and Avistar) and a district energy business (Thermal Chicago and Northwind Aladdin) a UK regulated water utility and in Macquarie Communications Infrastructure Group. Macquarie Infrastructure Company LLC has a market cap of $187.44 million; its shares were traded at around $3.99 with and P/S ratio of 0.23. The dividend yield of Macquarie Infrastructure Company LLC stocks is 19.18%.

Sold Out: M.D.C. Holdings Inc. (MDC)

Ron Baron sold out his holdings in M.D.C. Holdings Inc.. His sale prices were between $22.88 and $33.33, with an estimated average price of $29.8. The impact to his portfolio due to this sale was less than 0.01%.

M.D.C. HOLDINGS INC. is engaged in the construction sale and related financing of residential housing and the acquisition and development of land for use in its homebuilding activities and sale to others in the Denver Phoenix Maryland Virginia mid Atlantic region Las Vegas Dallas California metropolitan areas. They are also is involved in real estate brokerage property management condominium conversions and fee construction of apartment and commercial buildings. M.D.C. Holdings Inc. has a market cap of $1.65 billion; its shares were traded at around $29.4 with and P/S ratio of 0.56. The dividend yield of M.D.C. Holdings Inc. stocks is 2.82%.

Sold Out: Kaiser Aluminum Corp. (KALU)

Ron Baron sold out his holdings in Kaiser Aluminum Corp.. His sale prices were between $15.81 and $33.23, with an estimated average price of $23.8. The impact to his portfolio due to this sale was less than 0.01%.

KAISER ALUMINUM is a leading producer of fabricated aluminum products for aerospace and high strength general engineering automotive and custom industrial applications. Repeatedly acknowledged as `Best in Class` among its global customer baseTheir 11 fabrication plants typically produce and ship more than 500 million pounds of product annually. Kaiser Aluminum Corp. has a market cap of $560.26 million; its shares were traded at around $26.46 with a P/E ratio of 6.75 and P/S ratio of 0.37. The dividend yield of Kaiser Aluminum Corp. stocks is 3.43%.

Sold Out: The St. Joe Company (JOE)

Ron Baron sold out his holdings in The St. Joe Company. His sale prices were between $22.9 and $33.35, with an estimated average price of $27.4. The impact to his portfolio due to this sale was less than 0.01%.

St. Joe Company is one of the Southeast's largest real estate operating companies. St. Joe provides a broad range of real estate services to meet both residential and commercial real estate needs. The company is one of the few real estate operating companies to have assembled the range of real estate financial marketing and regulatory expertise to take a large-scale approach to real estate development and services. The St. Joe Company has a market cap of $2.12 billion; its shares were traded at around $23.48 with a P/E ratio of 54.76 and P/S ratio of 5.63. The St. Joe Company had an annual average earning growth of 5.4% over the past 10 years.

Sold Out: John Bean Technologies Corp. (JBT)

Ron Baron sold out his holdings in John Bean Technologies Corp.. His sale prices were between $7.32 and $10.07, with an estimated average price of $8.5. The impact to his portfolio due to this sale was less than 0.01%.

JOHN BEAN TECHNOLOGIES CORPORATION is a leading global solutions provider to the food processing and air transportation industries. The Company designs manufactures tests and services technologically sophisticated systems and products for regional and multi-national industrial food processing customers through its JBT FoodTech segment and for domestic and international air transportation customers through its JBT AeroTech segments. John Bean Technologies Corp. has a market cap of $283.69 million; its shares were traded at around $10.92 . The dividend yield of John Bean Technologies Corp. stocks is 2.72%.

Sold Out: L1 Identity Solutions Inc. (ID)

Ron Baron sold out his holdings in L1 Identity Solutions Inc.. His sale prices were between $4.76 and $9.99, with an estimated average price of $7.1. The impact to his portfolio due to this sale was less than 0.01%.

Viisage Technology Inc.is a leader in the emerging field of biometrics technology and in providing digital identification systems and solutions. The company focuses on identification solutions that improve personal convenience and security deter fraud and reduce identification programcosts. The company combines its systems integration and software design capabilities with its proprietary software and hardware products and other industry standard products to create complete customized solutions. L1 Identity Solutions Inc. has a market cap of $693.64 million; its shares were traded at around $6.21 with a P/E ratio of 100.63 and P/S ratio of 1.78.

Sold Out: Brookfield Homes Corp. (BHS)

Ron Baron sold out his holdings in Brookfield Homes Corp.. His sale prices were between $2.59 and $10, with an estimated average price of $7. The impact to his portfolio due to this sale was less than 0.01%.

Brookfield Homes designs builds and markets single family multiple and condominium housing units and develops land for sale in a number of major markets across North America. Brookfield Homes Corp. has a market cap of $84.59 million; its shares were traded at around $2.57 with and P/S ratio of 0.19.

Sold Out: Energy Recovery Inc. (ERII)

Ron Baron sold out his holdings in Energy Recovery Inc.. His sale prices were between $5.64 and $8.65, with an estimated average price of $6.8. The impact to his portfolio due to this sale was less than 0.01%.

Based in San Leandro California ENERGY RECOVERY INC. is a leading global developer and manufacturer of highly efficient energy recovery devices utilized in the water desalination industry. Energy Recovery Inc. operates primarily in the sea water reverse osmosis segment of the desalination industry.ERI manufactures ultra-high efficiency recovery products and technology specifically the ERI PX Pressure Exchanger that are among the enabling technologies driving the rapid growth in seawater reverse osmosis desalination and are helping to make desalination affordable worldwide. Energy Recovery Inc. has a market cap of $317.55 million; its shares were traded at around $6.42 with and P/S ratio of 8.97.

Sold Out: Electronic Arts Inc. (ERTS)

Ron Baron sold out his holdings in Electronic Arts Inc.. His sale prices were between $15.32 and $29.79, with an estimated average price of $21.4. The impact to his portfolio due to this sale was less than 0.01%.

Electronic Arts Inc. operates in two principal business segments globally: EA Core business segment: creation marketing and distribution of entertainment software and the EA.com business segment: creation marketing and distribution of entertainment software which can be played or sold online. Electronic Arts Inc. has a market cap of $6.21 billion; its shares were traded at around $16.93 with and P/S ratio of 1.69.

Sold Out: GAMCO Investors Inc. (GBL)

Ron Baron sold out his holdings in GAMCO Investors Inc.. His sale prices were between $25.93 and $38.32, with an estimated average price of $30.8. The impact to his portfolio due to this sale was less than 0.01%.

GAMCO Investors Inc. through its subsidiaries manages assets in private advisory accounts (GAMCO Asset Management Inc.) mutual funds and closed-end funds (Gabelli Funds LLC) and partnerships and offshore funds (Investment Partnerships). GAMCO Investors Inc. has a market cap of $977.93 million; its shares were traded at around $36.21 with a P/E ratio of 16.31 and P/S ratio of 3.34. The dividend yield of GAMCO Investors Inc. stocks is 0.34%. GAMCO Investors Inc. had an annual average earning growth of 5.5% over the past 5 years.

Sold Out: Harman International Industries Inc. (HAR)

Ron Baron sold out his holdings in Harman International Industries Inc.. His sale prices were between $11.93 and $20.55, with an estimated average price of $16.4. The impact to his portfolio due to this sale was less than 0.01%.

Harman International Industries Incorporated is a leading manufacturer of high-quality high-fidelity audio products and electronic systems for the automotive consumer and professional markets. Harman International is a worldwide leader in the manufacture of high-quality high-fidelity audio and electronic products for automotive consumer and professional use. The company's legendary brands have taken a leading role in the creation and innovation of progressive technologies from the world's first car radio to today's most revolutionary infotainment systems. Our commitment to quality and innovation can be found everywhere from theaters and stadiums to homes and automobiles and continues to redefine the boundaries of technology and entertainment. Through internal development and a series of carefully selected acquisitions they have built up a broad range of renowned brands and products in our principal markets and a substantial and experienced digital engineering capabili Harman International Industries Inc. has a market cap of $811.45 million; its shares were traded at around $12 with a P/E ratio of 10.5 and P/S ratio of 0.2. The dividend yield of Harman International Industries Inc. stocks is 0.36%. Harman International Industries Inc. had an annual average earning growth of 16.8% over the past 10 years. GuruFocus rated Harman International Industries Inc. the business predictability rank of 3-star.

Sold Out: HFF Inc. (HF)

Ron Baron sold out his holdings in HFF Inc.. His sale prices were between $1.9 and $3.49, with an estimated average price of $2.5. The impact to his portfolio due to this sale was less than 0.01%.

HFF INC. operates out of eighteen offices nationwide and is a leading provider of commercial real estate and capital market services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement investment sales structured finance private equity note sale and note sales advisory services and commercial loan servicing. HFF incorporates capital markets knowledge with local real estate knowledge to successfully complete any type of real estate transaction regardless of size or complexity. HFF consistently maintains the capital markets relationships critical to successfully accomplish the clients' specific capital needs in today's highly complex and rapidly shifting capital markets environment. HFF Inc. has a market cap of $34.54 million; its shares were traded at around $2.03 with a P/E ratio of 13.13 and P/S ratio of 0.14.

Sold Out: California Pizza Kitchen Inc. (CPKI)

Ron Baron sold out his holdings in California Pizza Kitchen Inc.. His sale prices were between $6.01 and $10.88, with an estimated average price of $8.9. The impact to his portfolio due to this sale was less than 0.01%.

California Pizza Kitchen Inc. is a leading casual dining chain in the premium pizza segment. The company's full-service restaurants feature an imaginative line of hearth-baked pizzas including the original BBQ Chicken Pizza and a broad selection of distinctive pastas salads soups and sandwiches. Of the chain's two hundred seven restaurants one hundred seventy seven are company-owned and thirty operate under franchise or license agreements. There are twenty five CPK ASAP locations nine of which are company-owned and sixteen are franchised. Another company-owned concept is LA Food Show Grill & Bar which currently has one location in Manhattan Beach California. The company also has a licensing arrangement with Kraft Pizza Company which manufactures and distributes a line of California Pizza Kitchen premium frozen pizzas. California Pizza Kitchen Inc. has a market cap of $275.81 million; its shares were traded at around $10.88 with a P/E ratio of 15.89 and P/S ratio of 0.44. California Pizza Kitchen Inc. had an annual average earning growth of 12.4% over the past 5 years.


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