Funds owning Big Losers

AMBASSADORES GROUP (EPAX)SHARES DROP 35%+ 10/23/2007

administrator — Tue, 23 Oct 2007 16:55:00 GMT

EPAX SEC FILINGS http://livermore.brand.edgar-online.com/?sym=epax

FUNDS WHO OWN EPAX

Company Name	Shares Held	Change in Shares	% Change Shares	$ Market Value	% of Portfolio	% of TSO	Report Date
MORGAN STANLEY	2,108,723	(54,915)	-2.54	$84,243,484	0.03	10.80	06/30/07
ASHFORD CAPITAL MANAGEMENT INC	972,259	(34,000)	-3.38	$38,841,747	3.70	4.98	06/30/07
ATLANTA CAPITAL MANAGEMENT CO L L C	815,720	58,704	7.75	$32,588,014	0.51	4.18	06/30/07
EAGLE ASSET MANAGEMENT INC	758,512	(161,265)	-17.53	$30,302,554	0.26	3.88	06/30/07
BARCLAYS GLOBAL INVESTORS NA /CA/	615,649	(212,695)	-25.68	$24,595,178	0.00	3.15	06/30/07
TIMUCUAN ASSET MANAGEMENT INC/FL	603,685	477,474	378.31	$24,117,216	4.67	3.09	06/30/07
ARBOR CAPITAL MANAGEMENT LLC	573,000	(100,000)	-14.86	$22,891,350	1.70	2.93	06/30/07
FENIMORE ASSET MANAGEMENT INC	571,441	(25,100)	-4.21	$22,829,068	1.16	2.93	06/30/07
TYGH CAPITAL MANAGEMENT, INC.	520,654	199,759	62.25	$20,800,127	0.83	2.67	06/30/07
DIMENSIONAL FUND ADVISORS INC	519,176	8,883	1.74	$20,741,081	0.03	2.66	06/30/07
GENERAL ELECTRIC CO	400,000	0	0.00	$15,980,000	0.04	2.05	06/30/07
NATIONAL CITY CORP	388,772	76,066	24.33	$15,531,441	0.06	1.99	06/30/07
PIONEER INVESTMENT MANAGEMENT INC	384,300	18,800	5.14	$15,352,785	0.05	1.97	06/30/07
MUNDER CAPITAL MANAGEMENT	375,049	19,667	5.53	$14,983,208	0.14	1.92	06/30/07
VANGUARD GROUP INC	373,752	10,876	3.00	$14,931,392	0.00	1.91	06/30/07
PRINCIPAL FINANCIAL GROUP INC	300,480	1,390	0.46	$12,004,176	0.04	1.54	06/30/07
EDGE ASSET MANAGEMENT, INC	287,397	4,794	1.70	$11,481,510	0.14	1.47	06/30/07
FMR LLC	268,699	0	0.00	$10,734,525	0.00	1.38	06/30/07
ATLANTIC CAPITAL MANAGEMENT LLC	264,716	0	0.00	$10,575,404	1.59	1.36	06/30/07
DALTON GREINER HARTMAN MAHER & CO	262,496	(151,608)	-36.61	$10,486,715	0.63	1.34	06/30/07
STATE STREET CORP	253,279	(102,927)	-28.90	$10,118,496	0.00	1.30	06/30/07
J P MORGAN CHASE & CO	223,669	(16,089)	-6.71	$8,935,577	0.00	1.15	06/30/07
GANNETT WELSH & KOTLER	199,800	199,800	100.00	$7,982,010	0.57	1.02	06/30/07
BANK OF AMERICA CORP /DE/	191,468	40,852	27.12	$7,649,147	0.01	0.98	06/30/07
INVESCO PLC/LONDON/	181,296	(8,297)	-4.38	$7,242,775	0.01	0.93	06/30/07

Ambassadors Group takes huge stock hit
Tuesday October 23, 12:39 pm ET

Shares in the Ambassadors Group Inc. educational travel company dropped more than 35 percent in early Tuesday trading, a day after the Spokane company said 2008 earnings will be less than those in 2007.

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The company, which arranges educational travel and sports programs (NASDAQ: EPAX - News), said it won't have as many travelers in 2008 compared with 2007. The news sent the company's stock diving, falling more than $14.30 to $25.56, in early Tuesday trading.

"We anticipate that we will not achieve the same earnings in 2008 as in 2007," said Jeff Thomas, president and CEO, in a statement. The company said only 26,200 travelers were signed up for its 2008 travel programs compared with 37,300 participants as of the same date last year for its 2007 programs, which will "negatively impact its 2008 earnings," company officials said in a statement.

Published October 23, 2007 by the Puget Sound Business Journal

ANGIOTECH PHARMACEUTICALS (ANPI) SHARES DROP 30%+ ON LOWER REVENUE PROJECTIONS 10/19/2007

administrator — Fri, 19 Oct 2007 19:17:00 GMT

ANPI SEC FILINGS http://livermore.brand.edgar-online.com/?sym=anpi

FUNDS WHO OWN ANPI

Company Name	Shares Held	Change in Shares	% Change Shares	$ Market Value	% of Portfolio	% of TSO	Report Date
LETKO, BROSSEAU & ASSOCIATES INC	7,898,180	(206,450)	-2.55	$59,473,295	0.57	9.29	06/30/07
FRANKLIN RESOURCES INC	6,221,985	115,715	1.90	$46,851,547	0.03	7.32	06/30/07
NATCAN INVESTMENT MANAGEMENT INC	6,017,624	(4,054,199)	-40.25	$45,312,709	0.49	7.08	09/30/07
WEST COAST ASSET MANAGEMENT INC	3,889,195	809,425	26.28	$29,285,638	10.47	4.57	06/30/07
STATE OF WISCONSIN INVESTMENT BOARD	3,414,878	468,950	15.92	$25,714,031	0.26	4.02	06/30/07
LEGG MASON INC	3,400,305	(647,950)	-16.01	$25,604,297	0.01	4.00	06/30/07
FREESTONE CAPITAL MANAGEMENT INC	2,133,096	2,133,096	100.00	$16,062,213	4.44	2.51	09/30/07
RBC ASSET MANAGEMENT INC	1,874,300	(178,800)	-8.71	$14,113,479	0.05	2.20	06/30/07
BECKER CAPITAL MANAGEMENT INC	1,599,161	343,504	27.36	$12,041,682	0.64	1.88	06/30/07
LAZARD ASSET MANAGEMENT LLC	1,422,880	920,580	183.27	$10,714,286	0.02	1.67	09/30/07
BLACKROCK INVESTMENT MANAGEMENT, LLC	1,422,800	(1,517,097)	-51.60	$10,713,684	0.01	1.67	06/30/07
LEHMAN BROTHERS HOLDINGS INC	1,281,440	1,269,238	10,401.88	$9,649,243	0.03	1.51	06/30/07
MACKENZIE FINANCIAL CORP	1,145,391	268,999	30.69	$8,624,794	0.03	1.35	06/30/07
BARCLAYS GLOBAL INVESTORS NA /CA/	734,239	(423,005)	-36.55	$5,528,820	0.00	0.86	06/30/07
LIBERTY RIDGE CAPITAL, INC.	725,299	225,970	45.25	$5,461,501	1.02	0.85	06/30/07
WELLS FARGO & CO/MN	723,900	(63,500)	-8.06	$5,450,967	0.01	0.85	06/30/07
GOODMAN & COMPANY, INVESTMENT COUNSEL LTD.	717,200	500	0.07	$5,400,516	0.07	0.84	06/30/07
TD ASSET MANAGEMENT INC	602,759	178,845	42.19	$4,538,775	0.02	0.71	06/30/07
DEUTSCHE BANK AG\	540,781	491,698	1,001.77	$4,072,081	0.00	0.64	06/30/07
MORGAN STANLEY	514,427	(824,535)	-61.58	$3,873,635	0.00	0.61	06/30/07
DELAWARE MANAGEMENT BUSINESS TRUST	497,400	497,400	100.00	$3,745,422	0.01	0.59	06/30/07
PUBLIC SECTOR PENSION INVESTMENT BOARD	471,777	471,777	100.00	$3,552,481	0.04	0.55	06/30/07
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC	462,577	(200,000)	-30.19	$3,483,205	0.02	0.54	06/30/07
VOYAGEUR ASSET MANAGEMENT INC	402,752	232,552	136.63	$3,032,723	0.04	0.47	06/30/07
KENNEDY CAPITAL MANAGEMENT INC	350,877	(97,400)	-21.73	$2,642,104	0.06	0.41	06/30/07

Angiotech Cuts 2007 Revenue Outlook
Friday October 19, 12:09 pm ET

Angiotech Pharma Cuts 2007 Outlook, Citing Lower Royalty Revenue, Delayed Regulatory OK

NEW YORK (AP) -- Angiotech Pharmaceuticals Inc. on Friday cut its 2007 outlook, citing weak drug-eluting stent sales from partner Boston Scientific Corp.

Shares of the specialty pharmaceutical and medical device company plummeted $2.49, or 33.1 percent, to $5.04 in midday trading. The stock earlier traded as low as $4.86, after ranging from $5.28 to $9.81 for the past year.

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The company predicted adjusted earnings before interest, taxes, depreciation and amortization of $47 million to $50 million for the year. Previously, Angiotech forecast EBITDA of $85 million to $95 million for 2007.

Angiotech also lowered its medical product revenue outlook to a range of $171 million to $173 million, from a previous estimate of $190 million to $210 million.

Angiotech cut its 2007 royalty revenue outlook to a range of $118 million to $120 million, from a prior forecast of $130 million to $135 million. Angiotech records royalty revenue from Boston Scientific's drug-eluting cardiac stents which use Angiotech's paclitaxel drug coating.

Boston Scientific reported third-quarter sales of paclitaxel-eluting stents fell to $448 million from $572 million a year ago.

Analysts polled by Thomson Financial expect Angiotech to report 2007 revenue of $315.3 million.

Angiotech said it expected modestly lower full-year revenue from the recently acquired American Medical Instruments Inc. compared to initial forecasts, due in part to its discontinuation of certain product lines.

Angiotech also cited unexpectedly long regulatory review times, primarily for its Vascular Wrap product candidate in the European Union. Angiotech said it had expected the product candidate to be approved for sale in the EU by the third quarter. Now it believes that won't occur until the first half of 2008.

Angiotech also cut its 2007 sales guidance for new product lines to $10 million to $30 million.

MICROCHIP TECHNOLOGY (MCHP) SHARES LOWER ON DOWNGRADE 10/09/2007

administrator — Tue, 09 Oct 2007 14:17:00 GMT

MICOCHIP TECHNOLOGY (MCHP) SEC FILINGS http://livermore.brand.edgar-online.com/?sym=mchp

FUND WHO OWN MCHP SHARES

Company Name	Shares Held	Change in Shares	% Change Shares	$ Market Value	% of Portfolio	% of TSO	Report Date
CAPITAL RESEARCH & MANAGEMENT CO	31,534,574	3,712,727	13.34	$1,154,796,100	0.18	14.41	06/30/07
FMR CORP	13,318,801	(134,748)	-1.00	$487,734,493	0.07	6.09	06/30/07
BARCLAYS GLOBAL INVESTORS NA /CA/	7,192,700	256,498	3.70	$263,396,674	0.03	3.29	06/30/07
LORD ABBETT & CO LLC	6,668,589	1,884,816	39.40	$244,203,729	0.29	3.05	06/30/07
MELLON FINANCIAL CORP	6,327,555	55,808	0.89	$231,715,064	0.10	2.89	12/31/06
VANGUARD GROUP INC	5,598,633	334,732	6.36	$205,021,940	0.04	2.56	06/30/07
PRICE T ROWE ASSOCIATES INC /MD/	5,535,583	(156,058)	-2.74	$202,713,049	0.08	2.53	06/30/07
OPPENHEIMER FUNDS INC	5,295,857	447,172	9.22	$193,934,283	0.19	2.42	06/30/07
NORTHERN TRUST CORP	5,219,242	237,613	4.77	$191,128,642	0.09	2.39	06/30/07
FRANKLIN RESOURCES INC	4,650,370	(1,903,204)	-29.04	$170,296,549	0.10	2.13	06/30/07
WADDELL & REED FINANCIAL INC	4,602,931	(195,635)	-4.08	$168,559,333	0.51	2.10	06/30/07
STATE STREET CORP	4,583,282	(164,337)	-3.46	$167,839,787	0.03	2.10	06/30/07
INVESCO PLC/LONDON/	4,471,374	(906,448)	-16.86	$163,741,716	0.12	2.04	06/30/07
AMERICAN CENTURY COMPANIES INC	4,207,719	(966,192)	-18.67	$154,086,670	0.23	1.92	06/30/07
UNITED STATES TRUST COMPANY, N.A.	3,130,985	177,423	6.01	$114,656,671	0.19	1.43	06/30/07
GENERAL ELECTRIC CO	2,619,059	(587,599)	-18.32	$95,909,941	0.26	1.20	06/30/07
BLAIR WILLIAM & CO/IL	2,270,643	(47,279)	-2.04	$83,150,947	0.34	1.04	06/30/07
RAINIER INVESTMENT MANAGEMENT INC/	2,159,965	437,015	25.36	$79,097,918	0.56	0.99	06/30/07
BLACKROCK JAPAN CO. LTD	2,024,095	12,576	0.63	$74,122,359	1.65	0.93	06/30/07
NEUBERGER BERMAN LLC	1,804,837	927,970	105.83	$66,093,131	0.07	0.83	06/30/07
EDGE ASSET MANAGEMENT, INC	1,786,950	(3,500)	-0.20	$65,438,109	0.79	0.82	06/30/07
PUTNAM INVESTMENT MANAGEMENT LLC	1,772,415	(275,881)	-13.47	$64,905,837	0.07	0.81	06/30/07
TEACHER RETIREMENT SYSTEM OF TEXAS	1,769,500	100,000	5.99	$64,799,090	0.11	0.81	06/30/07
AMERIPRISE FINANCIAL INC	1,657,348	(249,888)	-13.10	$60,692,084	0.09	0.76	06/30/07
BESSEMER GROUP INC	1,640,759	(275,471)	-14.38	$60,084,595	0.40	0.75	06/30/07

Microchip Tech cut at Thomas Weisel on US housing softness

By Aude Lagorce

Last Update: 6:58 AM ET Oct 9, 2007

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LONDON (MarketWatch) -- Thomas Weisel downgraded Microchip Technology, Inc. (MCHP:

Microchip Technology Inc

News, chart, profile, more

Last: 33.21-3.31-9.06%
10:06am 10/09/2007
Delayed quote data

MCHP 33.21, -3.31, -9.1%) to market weight from overweight, saying that while it believes the company has one of the best long-term business models in the semiconductor universe, it finds it difficult to recommend the shares at the moment because of concerns that the slowdown in the U.S. housing market, where it has some exposure, will spread to the consumer sector.