fresno county employees' retirement association 3q tab x kal… · mobile mini inc. 2.2%...
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Last QuarterReturn Rank One YearReturn Rank
Three YearsReturn Rank
Five YearsReturn Rank
Two QuartersReturn Rank
Three QuartersReturn Rank
Two YearsReturn Rank
Four YearsReturn Rank
Equity Style - Small Growth Date
5th Percentile 3.0 -1.8 10.7 14.1 20.0 20.2 25.8 18.625th Percentile 0.3 -4.5 6.9 9.6 15.6 17.3 21.4 15.550th Percentile -1.3 -7.0 4.5 6.6 13.6 15.1 19.3 13.575th Percentile -2.8 -9.8 2.7 4.0 11.2 11.7 17.1 10.795th Percentile -6.8 -15.2 -2.9 -2.9 8.2 7.8 15.2 6.2KALMAR MANAGEMENT 0.5 -7.6 3.0 4.624 55 72 69RUSSELL 2000 GROWTH -1.7 -8.9 4.2 5.9 11.8 11.8 18.6 10.157 67 54 57 69 74 58 78
Fresno County Employees' Retirement AssociationCumulative Performance Comparisons Period Ending: September 30, 2006
Wurts & Associates Performance Measurement System 1
KALMAR MANAGEMENTPortfolio
Total Number of SecuritiesTotal Market Value Average Market Capitalization (000's)Equity Segment YieldEquity Segment Price/Earnings RatioEquity Segment BetaPrice/Book Ratio5 Year Earnings Growth
93 129456,572,370
1,863,886 1,100,0000.98 0.52
31.24 20.361.31 1.293.86 3.89
17.5% 16.0%
RUSSELL 2000 GROWTH
Ten Worst PerformersSecurity Return Weight
COSTAR GROUP, INC. -30.9 0.25SONOSITE, INC. -27.3 0.85UNION DRILLING, INC. -26.0 0.24MARTEK BIOSCIENCES CORPORATION -25.7 0.33ULTRA PETROLEUM CORPORATION -18.8 1.94PARALLEL PETROLEUM INC -18.8 1.59UNITED SURGICAL PARTNERS INTERNATIONAL, -17.4 1.30AARON RENTS, INC. -14.5 0.66CHOICEPOINT INCORPORATED -14.3 0.90RESMED INCORPORATED -14.3 1.37
Ten Best PerformersSecurity Return Weight
DELTA PETROLEUM CORPORATION 31.5 1.12TESSERA TECHNOLOGIES INC 26.5 1.42CBEYOND COMMUNICATIONS INC 25.9 0.36CORRECTIONS CORPORATION OF AMERICA 22.5 2.13COOPER COMPANIES INCORPORATED 20.8 1.75VALUECLICK INCORPORATED 20.8 0.97ONLINE RESOURCES CORPORATION 18.5 0.40ATMI INCORPORATED 18.1 1.01RUBY TUESDAY INCORPORATED 16.8 1.02INTERMEC 14.9 1.12
Ten Largest HoldingsSecurity Market Value Weight
INSIGHT ENTERPRISES 1,370,565 2.42AVOCENT CORPORATION 1,286,124 2.27PSS WORLD MEDICAL INCORPORATED 1,206,896 2.13CORRECTIONS CORPORATION OF AMERICA 1,205,053 2.13ALBEMARLE CO. 1,193,769 2.11ROGERS CORP 1,143,919 2.02RESPIRONICS, INC. 1,139,960 2.02COLDWATER CREEK INC 1,132,943 2.00ULTRA PETROLEUM CORPORATION 1,096,908 1.94COVANCE INCORPORATED 1,010,967 1.79
Fresno County Employees' Retirement AssociationEquity Only Summary Statistics Period Ending: September 30, 2006
Wurts & Associates Performance Measurement System 2
Price/Earnings Ratio 5 Year EarningsCapitalizationDividend Yield Price/Book RatioBetaValue Rank Value Rank Value Rank Value Rank Value Rank Value Rank
5th Percentile25th Percentile50th Percentile75th Percentile95th Percentile
24.4820.3216.8815.1712.99
2.441.861.250.810.21
102.5677.7841.04
2.221.08
24.9019.0716.2713.75
8.64
1.581.341.151.040.93
4.963.993.282.682.11
Equity Funds - Equity Only
KALMAR MANAGEMENT 31.24 0.98 1.86 17.45 1.311 65 81 39 29 3.86 30RUSSELL 2000 GROWTH 20.36 0.52 1.10 15.97 1.2925 85 95 53 32 3.89 29
Fresno County Employees' Retirement AssociationPortfolio Characteristics - Equity Period Ending: September 30, 2006
Wurts & Associates Performance Measurement System 3
As Of 3/31/056.7%ISHARES RUSSELL 20002.6%COVANCE INCORPORATED2.3%BARR LABORATORIES2.3%INSIGHT ENTERPRISES2.3%ULTRA PETROLEUM CORPORATION2.2%ACXIOM CORP.2.0%RESPIRONICS, INC.1.9%GAMESTOP CORPORATION CLASS A1.8%RED ROBIN GOURMET BURGERS1.8%ELK CORP
Top Ten Total: 25.8%
As Of 6/30/052.7%ULTRA PETROLEUM CORPORATION2.6%INSIGHT ENTERPRISES2.4%COVANCE INCORPORATED2.2%ACXIOM CORP.2.2%RED ROBIN GOURMET BURGERS2.1%RESPIRONICS, INC.2.0%COLDWATER CREEK INC2.0%UNITED SURGICAL PARTNERS1.9%LAUREATE EDUCATION INC1.8%GAMESTOP CORPORATION CLASS A
Top Ten Total: 21.9%
As Of 9/30/054.3%ULTRA PETROLEUM CORPORATION2.5%RESPIRONICS, INC.2.4%INSIGHT ENTERPRISES2.3%UNITED SURGICAL PARTNERS2.1%RESMED INCORPORATED2.1%COLDWATER CREEK INC2.1%AVOCENT CORPORATION2.0%LAUREATE EDUCATION INC2.0%COVANCE INCORPORATED2.0%ACXIOM CORP.
Top Ten Total: 23.9%
As Of 12/31/0411.8%ISHARES RUSSELL 20002.7%ACXIOM CORP.2.6%INSIGHT ENTERPRISES2.6%AVOCENT CORPORATION2.2%LAUREATE EDUCATION INC2.2%PETSMART INC2.2%BARR LABORATORIES2.1%COVANCE INCORPORATED2.0%PENTAIR INCORPORATED1.9%GAMESTOP CORPORATION CLASS A
Top Ten Total: 32.2%
As Of 3/31/062.3%INSIGHT ENTERPRISES2.3%ULTRA PETROLEUM CORPORATION2.2%MOBILE MINI INC.2.0%COVANCE INCORPORATED1.9%RESMED INCORPORATED1.9%MSC INDUSTRIAL DIRECT COMPANY1.9%PSS WORLD MEDICAL INCORPORATED1.8%RESPIRONICS, INC.1.8%LAUREATE EDUCATION INC1.8%COLDWATER CREEK INC
Top Ten Total: 19.9%
As Of 6/30/062.3%ULTRA PETROLEUM CORPORATION2.3%COVANCE INCORPORATED2.2%RESMED INCORPORATED2.2%INSIGHT ENTERPRISES1.9%AVOCENT CORPORATION1.9%TRACTOR SUPPLY COMPANY1.9%PARALLEL PETROLEUM INC1.8%PSS WORLD MEDICAL INCORPORATED1.8%ALLIANCE DATA SERVICES1.8%COLDWATER CREEK INC
Top Ten Total: 20.4%
As Of 9/30/062.4%INSIGHT ENTERPRISES2.3%AVOCENT CORPORATION2.1%PSS WORLD MEDICAL INCORPORATED2.1%CORRECTIONS CORPORATION OF2.1%ALBEMARLE CO.2.0%ROGERS CORP2.0%RESPIRONICS, INC.2.0%COLDWATER CREEK INC1.9%ULTRA PETROLEUM CORPORATION1.8%COVANCE INCORPORATED
Top Ten Total: 20.8%
As Of 12/31/052.7%ULTRA PETROLEUM CORPORATION2.4%INSIGHT ENTERPRISES2.3%COLDWATER CREEK INC2.0%LAUREATE EDUCATION INC2.0%RESPIRONICS, INC.1.9%RESMED INCORPORATED1.9%COVANCE INCORPORATED1.9%MOBILE MINI INC.1.8%CERIDIAN CORP1.8%TRACTOR SUPPLY COMPANY
Top Ten Total: 20.8%
Fresno County Employees' Retirement AssociationTop Ten Holding Period Ending: September 30, 2006
Wurts & Associates Performance Measurement System 4
Price/Earnings Ratio Dividend Yield
Price/Book Ratio Five Year Earnings Growth
Return on Equity
KALMAR MANAGEMENT
RUSSELL 2000 GROWTH
Total Number of Securities Average Market Capitalization ($Bill)
Fresno County Employees' Retirement AssociationEquity Only Summary Statistics Charts Period Ending: September 30, 2006
Wurts & Associates Performance Measurement System 5
Consumer Discretionary - Weightings Consumer Discretionary - Returns
Consumer Staples - Weightings Consumer Staples - Returns
Energy - Weightings Energy - Returns
Fresno County Employees' Retirement AssociationEquity Only Sector Analysis Quarterly Period Ending: September 30, 2006
Wurts & Associates Performance Measurement System 6
KALMAR MANAGEMENT RUSSELL 2000 GROWTH
Fresno County Employees' Retirement AssociationEquity Only Sector Analysis Quarterly Period Ending: September 30, 2006
Financials - Weightings Financials - Returns
Health Care - Weightings Health Care - Returns
Industrials - Weightings Industrials - Returns
Wurts & Associates Performance Measurement System 7
KALMAR MANAGEMENT RUSSELL 2000 GROWTH
Fresno County Employees' Retirement AssociationEquity Only Sector Analysis Quarterly Period Ending: September 30, 2006
Information Technology - Weightings Information Technology - Returns
Materials - Weightings Materials - Returns
Miscellaneous - Weightings Miscellaneous - Returns
Wurts & Associates Performance Measurement System 8
KALMAR MANAGEMENT RUSSELL 2000 GROWTH
Fresno County Employees' Retirement AssociationEquity Only Sector Analysis Quarterly Period Ending: September 30, 2006
Telecommunications Services - Weightings Telecommunications Services - Returns
Utilities - Weightings Utilities - Returns
Wurts & Associates Performance Measurement System 9
KALMAR MANAGEMENT RUSSELL 2000 GROWTH
PortfolioMarket Value Return
SelectionStock IndustryMarket Value Return Total
A GFEDCB
KALMAR MANAGEMENT RUSSELL 2000 GROWTH
Consumer Discretionary 26.1 0.6 14.2 1.5 -0.2 0.4 0.1Consumer Staples 8.6 -1.7 2.3 2.5 -0.4 0.3 -0.1Energy 11.3 -6.9 6.5 -9.3 0.3 -0.4 -0.1Financials 3.2 0.1 8.7 3.4 -0.1 -0.3 -0.4Health Care 15.0 -0.1 20.1 -0.4 0.0 -0.1 0.0Industrials 10.9 -2.6 19.1 -5.2 0.3 0.3 0.6Information Technology 21.1 5.7 24.1 -1.4 1.5 0.0 1.5Materials 3.6 11.7 3.8 -6.6 0.7 0.0 0.7Telecommunications Services 0.3 25.9 1.1 5.0 0.1 -0.1 0.0Utilities 0.0 0.0 0.1 0.0 0.0 0.0 0.0
Stock
Industry
100.0 100.0 2.1 0.1 2.3
Information Technology
-1.70.6
Contribution Detractors
Stock
Industry
Consumer StaplesMaterials Consumer DiscretionaryConsumer Discretionary EnergyIndustrials Financials
Fresno County Employees' Retirement AssociationPerformance Attribution Geometric Period Ending: September 30, 2006
Wurts & Associates Performance Measurement System 10
Shares PricePortfolio
Weight Market CapDividend
YieldPrice /
EarningsPrice /Book Beta
Quarterly ReturnKALMAR MANAGEMENT
Consumer Discretionary16,335 22.98 0.7 1.05 0.2 18.1 2.6 0.77 -14.5AARON RENTS, INC.12,750 50.10 1.1 1.37 0.2 17.8 5.5 1.65 0.5ACTUANT CORPORATION21,275 24.66 0.9 2.17 0.8 29.0 3.1 1.21 -1.2ACXIOM CORP.6,100 84.10 0.9 2.59 1.3 16.7 3.5 0.99 6.4CARLISLE COMPANIES INCORPORATED
19,050 26.39 0.9 1.53 30.3 3.9 1.37 -0.2CARTER'S INC40,650 22.36 1.6 3.11 21.9 2.5 1.34 -8.5CERIDIAN CORP14,275 35.80 0.9 3.04 24.4 3.0 0.77 -14.3CHOICEPOINT INCORPORATED39,393 28.76 2.0 2.66 48.5 10.4 1.78 7.5COLDWATER CREEK INC27,863 43.25 2.1 2.61 28.8 2.8 0.90 22.5CORRECTIONS CORPORATION OF AMERICA3,410 41.32 0.2 0.78 91.8 3.4 1.44 -30.9COSTAR GROUP, INC.
25,800 21.27 1.0 1.51 34.9 2.7 0.55 -3.2DEVRY, INC.20,550 5.26 0.2 0.15 105.2 1.8 2.12 -8.8FLOWERS.COM, INC.28,675 12.62 0.6 0.50 0.6 18.3 1.5 1.22 -5.3FRED'S, INC.14,640 46.28 1.2 2.10 30.6 3.0 1.13 10.2GAMESTOP CORPORATION23,800 24.26 1.0 1.77 2.0 0.48 7.9HEWITT ASSOCIATES, INC.21,100 47.86 1.8 2.46 26.2 2.4 1.65 12.3LAUREATE EDUCATION INC13,900 46.29 1.1 1.68 37.3 5.3 0.0LIFE TIME FITNESS, INC.6,300 25.45 0.3 0.48 12.9 1.6 1.54 -3.0MARINEMAX INCORPORATED
16,175 43.54 1.2 5.81 1.1 26.5 4.5 1.67 5.9MICHAELS STORES INCORPORATED27,975 20.06 1.0 1.06 20.5 2.6 1.49 -11.4NAVIGANT CONSULTING CO.5,900 58.17 0.6 1.15 18.8 2.7 1.41 9.4NCI BUILDING SYSTEMS
21,650 33.21 1.3 3.77 21.3 3.3 1.00 6.5O'REILLY AUTOMOTIVE INCORPORATED11,250 36.52 0.7 3.16 22.3 5.6 0.99 -5.8PENN NATIONAL GAMING INCORPORATED20,270 48.26 1.7 1.93 21.4 4.0 1.61 -12.7TRACTOR SUPPLY COMPANY
25.2 2.33 0.7 28.1 3.9 1.26 1.63Consumer Staples
13,500 23.62 0.6 1.82 44.6 6.1 1.76 -6.8AQUANTIVE INC13,425 22.01 0.5 0.50 55.0 3.9 1.01 -1.5BJ'S RESTAURANTS INC18,150 23.41 0.8 0.84 41.4 2.2 1.13 -7.0CENTRAL EUROPEAN DISTRIBUTION CORPORATIO22,650 16.16 0.6 0.46 14.7 1.7 0.73 -9.6ELIZABETH ARDEN INCORPORATED8,600 21.51 0.3 0.69 31.6 1.5 1.43 -25.7MARTEK BIOSCIENCES CORPORATION
30,600 28.09 1.5 0.98 26.0 1.3 0.78 -7.5PERFORMANCE FOOD GROUP COMPANY15,735 46.11 1.3 0.76 29.0 3.7 1.65 8.3RED ROBIN GOURMET BURGERS20,375 28.19 1.0 1.64 1.8 17.1 3.1 1.12 16.8RUBY TUESDAY INCORPORATED29,500 18.54 1.0 1.78 37.1 3.1 1.65 20.8VALUECLICK INCORPORATED
7.6 1.09 1.8 30.9 2.8 1.23 1.58
Fresno County Employees' Retirement AssociationPortfolio Holdings And Characteristics - Equity Period Ending: September 30, 2006
Wurts & Associates Performance Measurement System 11
Shares PricePortfolio
Weight Market CapDividend
YieldPrice /
EarningsPrice /Book Beta
Quarterly ReturnKALMAR MANAGEMENT
Energy10,900 44.97 0.9 1.40 20.3 3.8 1.40 -9.3ATWOOD OCEANICS, INCORPORATED6,350 63.80 0.7 1.62 42.2 1.56 4.5CORE LABORATORIES
28,250 22.52 1.1 1.19 3.4 1.05 31.5DELTA PETROLEUM CORPORATION10,250 30.32 0.5 1.59 24.9 -13.9DUVERNAY OIL CORP8,310 31.39 0.5 0.35 33.0 5.1 1.20 1.5GMX RESOURCES INC
13,925 59.90 1.5 2.42 0.2 6.2 0.96 5.5NIKO RESOURCES LTD44,800 20.06 1.6 0.70 46.7 7.8 0.76 -18.8PARALLEL PETROLEUM INC11,655 44.19 0.9 2.49 1.4 9.2 1.6 1.43 -9.9TIDEWATER, INCORPORATED22,800 48.11 1.9 7.48 30.1 13.1 1.25 -18.8ULTRA PETROLEUM CORPORATION12,375 11.00 0.2 0.23 108.9 1.8 -26.0UNION DRILLING, INC.
9.9 2.66 0.6 33.5 6.8 1.15 -5.05Financials
18,025 55.19 1.8 4.42 27.1 4.8 1.15 -6.2ALLIANCE DATA SERVICES10,050 27.88 0.5 1.02 1.1 19.1 1.8 1.02 0.2BOSTON PRIVATE FINANCIAL HOLDING11,450 28.92 0.6 1.14 1.0 23.2 0.24 10.6HUB INTERNATIONAL LIMITED18,525 12.25 0.4 0.31 15.1 3.0 1.55 18.5ONLINE RESOURCES CORPORATION
3.2 2.80 1.1 23.7 4.0 1.02 0.89Health Care
11,425 51.32 1.0 0.72 0.8 1.8 0.45 10.1ANALOGIC CORPORATION9,090 31.81 0.5 1.43 2.1 33.1 3.0 0.68 -2.7ARROW INTERNATIONAL INCORPORATED
18,525 53.50 1.8 2.38 0.1 40.2 1.9 0.60 20.8COOPER COMPANIES INCORPORATED15,230 66.38 1.8 4.23 32.9 6.5 0.63 8.4COVANCE INCORPORATED9,540 28.31 0.5 1.16 50.6 6.1 0.69 -6.3HEALTHEXTRAS INCORPORATED
37,276 27.05 1.8 1.16 46.6 3.7 1.44 0.3INTERMAGNETICS GENERAL CORP.60,375 19.99 2.1 1.36 28.6 3.9 0.36 13.3PSS WORLD MEDICAL INCORPORATED19,270 40.25 1.4 3.06 34.7 4.1 1.14 -14.3RESMED INCORPORATED29,525 38.61 2.0 3.08 28.4 3.7 0.46 12.8RESPIRONICS, INC.16,850 28.40 0.8 0.46 60.4 3.0 1.61 -27.3SONOSITE, INC.29,625 24.83 1.3 1.11 23.0 2.1 0.82 -17.4UNITED SURGICAL PARTNERS INTERNATIONAL,
15.0 2.06 0.6 35.8 3.6 0.77 3.12Industrials
33,000 26.88 1.6 1.74 17.6 2.0 1.45 11.4BENCHMARK ELECTRONICS, INCORPORATED36,680 24.06 1.6 2.34 0.5 91.1 4.9 1.47 -0.3CHICAGO BRIDGE IRON-NY SHR7,930 33.01 0.5 0.61 24.1 2.9 0.60 7.0MANTECH INTERNATIONAL CORP A
34,725 28.41 1.7 1.01 27.6 3.2 1.63 -2.9MOBILE MINI INC.45,165 15.11 1.2 1.56 22.2 1.8 2.22 0.3MPS GROUP INC22,075 40.74 1.6 1.98 1.4 21.2 5.1 1.54 -14.1MSC INDUSTRIAL DIRECT COMPANY34,025 17.42 1.0 1.00 26.8 3.3 1.65 -1.8TETRA TECH INC34,000 27.97 1.7 2.70 0.2 70.5 1.02 10.9UTI WORLDWIDE INCORPORATED
10.9 1.75 0.7 40.2 3.4 1.50 0.93
Fresno County Employees' Retirement AssociationPortfolio Holdings And Characteristics - Equity Period Ending: September 30, 2006
Wurts & Associates Performance Measurement System 12
Shares PricePortfolio
Weight Market CapDividend
YieldPrice /
EarningsPrice /Book Beta
Quarterly ReturnKALMAR MANAGEMENT
Information Technology72,475 10.28 1.3 0.76 28.6 1.6 1.39 -11.9AEROFLEX, INCORPORATED19,575 29.07 1.0 1.06 32.3 2.4 2.51 18.1ATMI INCORPORATED42,700 30.12 2.3 1.33 24.1 2.1 2.36 14.7AVOCENT CORPORATION20,550 14.55 0.5 0.53 16.0 15.7 1.90 -6.0CONCUR TECHNOLOGIES INC8,787 43.17 0.7 1.11 29.7 4.8 1.89 4.2DIODES, INCORPORATED
28,125 15.59 0.8 0.33 5.0 6.9EMAGEON INC23,350 21.11 0.9 0.71 0.9 2.4 2.07 -6.7FEI COMPANY66,500 20.61 2.4 1.00 18.1 1.7 1.48 8.2INSIGHT ENTERPRISES24,055 26.36 1.1 1.68 33.8 3.5 2.08 14.9INTERMEC15,425 34.84 0.9 2.51 23.4 1.6 2.62 -10.9INTERNATIONAL RECTIFIER CORP.33,675 8.91 0.5 0.60 40.5 2.1 2.23 -1.0IXIA9,775 11.99 0.2 0.08 12.0 -8.5NCI INC-CL A
24,570 27.67 1.2 1.37 3.6 27.6 2.7 1.67 -0.7NICE SYS LTD ADR19,500 13.11 0.5 0.27 65.6 2.7 2.36 1.2OPNET TECHNOLOGIES21,150 13.27 0.5 0.23 55.3 1.6 2.58 6.0PHOTON DYNAMICS, INCORPORATED32,650 24.53 1.4 2.16 40.9 2.5 1.80 11.9POLYCOM INC.23,850 26.00 1.1 1.07 24.1 2.8 1.13 11.1PROGRESS SOFTWARE COMANY11,750 21.25 0.4 0.46 31.3 2.0 2.58 -3.2RADISYS CORPORATION28,705 15.61 0.8 0.50 11.1 -6.4RIGHTNOW TECHNOLOGIES13,725 31.98 0.8 0.41 21.0 2.2 1.80 4.3SI INTERNATIONAL INCORPORATED26,985 30.06 1.4 1.25 27.8 3.8 0.46 12.9SRA INTERNATIONAL, INC.45,685 8.07 0.7 0.37 1.6 2.07 14.1SYMMETRICOM, INCORPORATED37,900 12.96 0.9 0.87 2.5 1.81 4.9TEKELEC23,175 34.78 1.4 1.62 8.7 1.31 26.5TESSERA TECHNOLOGIES INC
23.7 1.10 2.5 28.7 3.5 1.80 6.63Materials
21,900 54.33 2.1 2.58 1.3 19.3 2.7 1.12 13.9ALBEMARLE CO.18,525 61.75 2.0 1.08 28.3 3.6 1.23 9.6ROGERS CORP
4.1 1.84 1.3 23.7 3.1 1.17 11.77Telecommunications Services
7,500 27.45 0.4 0.74 41.0 9.8 25.9CBEYOND COMMUNICATIONS INC0.4 0.74 41.0 9.8 25.86
100.0 1.86 1.0 31.2 3.9 1.31 2.78KALMAR MANAGEMENT
Fresno County Employees' Retirement AssociationPortfolio Holdings And Characteristics - Equity Period Ending: September 30, 2006
Wurts & Associates Performance Measurement System 13
Start from Jun 30, 2006 KALMAR MANAGEMENTDeletions
Security Name Shares Market Value EliminatedCONNETICS CORPORATION 34,125 265,553 *CORE LABORATORIES 8,850 545,496COSTAR GROUP, INC. 3,040 132,808COVANCE INCORPORATED 6,270 385,123DIGITAS INC. 45,975 418,228 *GAMESTOP CORPORATION 6,960 320,057GENTEX CORPORATION 24,125 333,484 *MAXIMUS INCORPORATED 15,825 373,364 *NEOWARE INC 13,200 155,710 *NEUSTAR INCORPORATED CLASS A 9,600 265,300 *PENTAIR 10,675 319,173 *PENTAIR INCORPORATED 9,150 272,245 *RED ROBIN GOURMET BURGERS 2,440 116,688RESMED INCORPORATED 8,130 324,897 *THE STEAK N SHAKE CO 15,775 235,845 *TIDEWATER, INCORPORATED 4,120 196,957
AdditionsSecurity Name Shares Market Value New
ARROW INTERNATIONAL INCORPORATED 9,090 293,773 *CHICAGO BDG.&IO.NV. 5,280 128,593 *CHICAGO BRIDGE IRON-NY SHR 5,280 128,593CONCUR TECHNOLOGIES INC 20,550 289,379 *COOPER COMPANIES INCORPORATED 8,100 424,035GMX RESOURCES INC 8,310 283,942 *HEALTHEXTRAS INCORPORATED 9,540 292,908 *INTERMEC 11,380 263,396MANTECH INTERNATIONAL CORP A 7,930 236,642 *MPS GROUP INC 11,890 160,824
Fresno County Employees' Retirement AssociationEquity Activity Period Ending: September 30, 2006
Wurts & Associates Performance Measurement System 14