Relational Investors Discloses Hidden Stakes in Plantronics (PLAB), Burlington Northern (BNI), Genzyme (GENZ) and Zebra Tech (ZBRA)

February 18, 2009 12:41 PM EST

Ralph Whitworth and David Batchelder's Relational Investors released their 13F for the quarter ended December 31, 2008, and, maybe more interesting, the firm disclosed some new holdings they held in the third quarter which they were hiding due to "confidential treatment" with the SEC. That confidential treatment has now expired.

The new "confidential" positions were Plantronics, Inc. (Nasdaq: PLAB) (1.99M shares), Burlington Northern Santa (NYSE: BNI) (1.17M shares), Genzyme (Nasdaq: GENZ) (1.27M shares) and Zebra Technologies Corp. (Nasdaq: ZBRA) (670K shares).

Relational has since boosted its stake in three of the four "confidential" stocks (BNI, GENZ, ZBRA). In addition, Relational also boosted their stake in Yahoo! (Nasdaq: YHOO) and Sun Microsystems (Nasdaq: JAVA), among others. Relational cut their stake in National Semiconductor (NYSE: NSM) and completely sold out of their position in Sprint Nextel (NYSE: S), among others.

Here is a summary of changes in Relational Investors portfolio:

• New 704K share stake in Harman International Industries Inc. (NYSE: HAR).
  
• New 840K shares stake in Charles River Laboratories (NYSE: CRL).
  
• Raised Baxter International (NYSE: BAX) stake from 8.3M shares to 10.3M shares
  
• Raised stake in Sun Microsystems (Nasdaq: JAVA) from 20.1M shares to 34.7M shares
  
• Raised stake in Yahoo! Inc. (Nasdaq: YHOO) from 9.2M shares to 21.3M shares
  
• Raised stake in Zebra Technologies (Nasdaq: ZBRA) from 670K to 1.1M shares
  
• Raised stake in Genzyme (Nasdaq: GENZ) from 1.27M shares to 2.66M shares
  
• Raised stake in International Rectifier (NYSE: IRF) from 1.26M shares to 1.9M shares
  
• Raised stake in Burlington Northern Santa (NYSE: BNI) from 1.17M shares to 3.6M shares
  
• Lowered SPDRs (NYSE: SPY) stake from 6.3M shares to 4.4M shares
  
• Lowered National Semiconductor (NYSE: NSM) stake from 33.6M shares to 27.7M shares
  
• Lowered Sovereign Bancorp (NYSE: SOV) stake from 59M shares to 52.8M shares
  
• Lowered Unum Group (NYSE: UNM) slightly to 30.6M shares
  
• Lowered The Home Depot (NYSE: HD) slightly to 36.4M shares
  
• Sold out of all of their 53M shares of Sprint Nextel (NYSE: S)
  
• Sold out of all of their 1.8M shares of Capital One (NYSE: COF)
  
• Sold out of all of their 5.1M shares of Schering-Plough (NYSE: SGP)
  
• Sold out of all of their 535K shares of Lexmark International (NYSE: LXK)
  
• Sold out of all of their 180K shares of Regis Corp. (NYSE: RGS)

Maintained Positions:
Plantronics, Inc. (Nasdaq: PLAB)

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Related Entities

• Relational Investors LLC
• Ralph V. Whitworth

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