Portfolio activities (most recent first), listing the top 10 portfolio changes having the largest percentage impact on the portfolio.

Portfolio ManagerFirmPeriodTop 10 Buys/Sells
Meridian Fund Meridian Value Q1 2013COSTCCLCMPCTASATRHSPIPHSISCASMGEFX
William Fries, Connor Browne Thornburg Value Q1 2013GILDGOOGCYHMETTMOCOPJPMHIGACEWAG
Bill Nygren Oakmark Select Q1 2013DISCKFRXDTVMDTCOFTRWAIGINTCDELLCMCSA
Mason Hawkins Longleaf Partners Q1 2013DISBENMURVMCPHGFFTRVFDXBKAON
David Rolfe Wedgewood Partners Q1 2013AAPLQCOMEMCESRXSRCLCOHGOOGMNSTEXPDNOV
Whitney Tilson T2 Partners Management Q1 2013NFLXDECKBRK.BBAMCOHAIGAHLATVICBBGS
Bill Ackman Pershing Square Capital Management Q1 2013MATXBKWMDLZ
Michael Larson Bill & Melinda Gates Foundation Trust Q1 2013BRK.B
Eddie Lampert RBS Partners Q1 2013ANSHLDBIGCOFGNWSWYGPSSFIAZOOSH
David Einhorn Greenlight Capital Q1 2013AAPLESVOISXRXMSFTSTXYHOOOAKHESDLPH
Warren Buffett Berkshire Hathaway Q1 2013WFCCBIGDVRSNDTVADMMDLZDVANOVWMT
David Winters Wintergreen Advisers Q1 2013RAIMOPMBACNQBENKO
Chuck Akre Akre Capital Management Q1 2013NSDTVAAPLCFXMCOAMXDLTRMKLMWEJEF
Glenn Greenberg Brave Warrior Advisors Q1 2013MSIESRXGOOGADBEHALUSBORCLVPRTSCHWVRX
Ian Cumming Leucadia National Q1 2013JEFCOWN
David Tepper Appaloosa Management Q1 2013AAPLORCLCMCSAAIGJPMRIGPRUNEMETESV
Lou Simpson SQ Advisors Q1 2013DTVORCLMCODELLWFCLOWCCKBRK.BBAMVRX
Jeffrey Ubben ValueAct Capital Q1 2013MSFTMCOHALADSKMCRSWSHMHPBCRALBCOL
Stephen Mandel Lone Pine Capital Q1 2013VRXFBVMEDMJNCCIISRGTMOCMELMDIAHRB
Prem Watsa Fairfax Financial Holdings Q1 2013FTRWFCUSBNVDQNXYXCOTEAHOGSUPLAUQ
Seth Klarman Baupost Group Q1 2013NWSBPORCLNWSAAIGGNWELNROVIANVIDIX
Michael Price MFP Investors Q1 2013HESCOPIEPMIPSCOTNFBKITTNXYCFXHSP
Mohnish Pabrai Pabrai Investments Q1 2013GMCGSCHK
Thomas Gayner Markel Asset Management Q1 2013UNHLIIUBSHSYYARTGOOGMCOWLPLMCADELL
Arnold Van Den Berg Century Management Advisers Q1 2013ABMNEMOCNNSMWACAAAPOGMOLXSCSBHE
Robert Torray Torray Q1 2013DOWADPPGTUPRSGDDBDXMMMCBGD
Bill Nasgovitz Heartland Select Value Q1 2013WMSEMEHARDNBKBRMTZDRICOVRJFGES
Irving Kahn Kahn Brothers Group Q1 2013BMYNTENYCBNYTMRKPFESLMTPHSORIC
Bruce Berkowitz Fairholme Fund Q1 2013CIT
David Katz Matrix Advisors Value Q1 2013VODMWWOXYDELLJCISTTPEPSLBMSHPQ
Tweedy Browne Team Tweedy Browne Value Q1 2013RDS.AHSICHALHKHHFDEOEMBVF
Thomas Russo Gardner Russo & Gardner Q1 2013PMNSRGYWFCBRK.ABUDMAPDRDFSBMRYCFRHFUN
Dodge & Cox Team Dodge & Cox Q1 2013EBAYCVXCIGOOGSMSFTCMCSAOXYNWSATWC
William Von Mueffling Cantillon Capital Management Q1 2013AMZNECLORCLALTRLKQCLBBIDUPCLNADIBCO
Richard Pzena Hancock Classic Value Q1 2013LHWSHBPRDS.AABTETRBHIXOMLLLNOC
Sam Peters Legg Mason Value Trust Q1 2013AFLQCOMGETGTCOFSWKDPSTDCFRXMRVL
Wallace Weitz Weitz Value Q1 2013HPQDELLDTVTDGCVSFISAPABUDBRK.BMLM
Donald Yacktman Yacktman Focused Q1 2013KOMSFTHRBPGJNJCHRWXOMNWSASIALSYY
William Frels Mairs & Power Growth Q1 2013CHRWEMRQCOMUPSTECHPFGDISMDTWUSLB
Mark Hillman Hillman Focused Q1 2013IRPFEROKHNZADPYHOONKESPLSWFCCMP
Robert Rodriguez FPA Capital Q1 2013TRNWDCAPOLESVSIGCOGCNCROSEVECOHP
Steven Romick FPA Crescent Fund Q1 2013THLEFWDCESVKAOCFITTTRVPETMLOWXRXMSFT
Charles Bobrinskoy Ariel Focus Q1 2013DELLSWKITWAFLNOVMSZMHDVBRK.BMSFT
John Rogers Ariel Appreciation Q1 2013DELLCOHHSPITWTWWULIFECBGAFLCYN
Robert Zagunis Jensen Q1 2013ABTUTXADBEKOCLPEPMMMTJXADPACN
Jean-Marie Eveillard First Eagle U.S. Value Q4 2012CNQINTCPOTISCANXYPSXVMCWSHLONTAP
Christopher Davis, Kenneth Feinberg Clipper Q4 2012OAKIRMMKLRHHVFHOGCOSTJBHGFDEO
Ronald Muhlenkamp Muhlenkamp Q4 2012ABTAIGPFEAAPLCLNETLHABGALGTSAH
Harry Burn Sound Shore Q4 2012METRSGDPSWLPEQTBPNEMGMADISYY
Robert Olstein Olstein Value Q4 2012XRXDLBWUROSTCRLLOWNWLBAXDLPHVSH
Richard Cunniff Sequoia Q4 2012TGTSIROGLWAPHINTBRK.BBRK.AFSLRMHKIDXX