SATISH'S INSTITUTIONAL HOLDINGS LIST                                                         SPRINGBOARD STUDY HALL WEEK 1 ASSIGNMENT

"I looked at all the charts for the stocks Martha has given.  I looked at the charts and I like CSIQ, ENER, FSLR, SPW, WFR.  I am looking at Platform Formation, BOP and Volume and based on this criteria, I picked the following stocks.  I have looked at the Institutional Holdings and here is the list of for all these stocks."  Satish

           Total      % Inst         # Holdings       New        Sold     Increased   Decreased
           Shares   Ownership                          Position   Out
           (Mil)

CSIQ    36           36.1              123                 25          34           56                59

DSTI     33           39.3               43                   6            7           19                16

ENER    46           74.8              298                 49          51          138              136

ESLR   165           64.1              218                 14          62           80              107

FSLR     81           49.1              433                 60          66          207             199

HOKU    21          12.7                44                   7            7            15               16

LDK     113          24.6              150                 37           31           75                64

SPIR       8          31.8                33                   8            4            13                11

SPW     54           87.3              372                 51          62           165              177

STP     154          46.7               279                 38          66          106              140

TSL    2963           0.4               114                 25          28            45                56

WFR    224          83.1               597                 62          129         235              325

To eliminate the stocks, I eliminated stocks with less number of Total Shares since BOP will not work for it, TSL for 0.4% Instn'l Ownership, stocks Sold Out is way more than New Position, and Decreased is more than Increased Position.

Looking at the Financials:  First row is for the Revenue (Y/Y means year over year since Quarterly data is not available, Q/Q is quarter over quarter) and the second row is for the Net Income / Earnings.  Note from Adrienne: Parenthesis around a number indicates it is a negative number.

CSIQ       $302,798           $68,212           $18,324           $9,685      Y/Y
                    ($210)          ($9,430)            $3,804           $1,457

DSTI                  $0                   $0                   $0                $60     Q/Q
                  ($6,749)          ($7,273)           ($4,484)         ($8,033)

ENER          $95,765           $82,388           $69,982          $56,449    Q/Q
                    $3,853         ($25,231)        ( $18,596)        $50,332

ESLR           $22,067          $22,756            $22,947         $22,186     Q/Q
                 ($23,850)         ($8,922)               ($25)             $788

FSLR        $348,694          $267,041         $196,915        $200,797    Q/Q
                 $99,269           $69,671           $46,619          $62,874

HOKU             $767             $1,870             $2,208              $621    Q/Q
                    ($863)           ($1,373)              $178          ($2,099)

LDK          $523,946         $105,454    Y/Y
                $139,122           $25,885

SPIR           $17,536           $16,885           $14,538         $11,647    Q/Q
                       $445              ($269)             ($523)        ($1,077)

SPW       $1,476,800       $1,556,200       $1,392,500    $1,284,900    Q/Q
                $117,000            $94,800           $61,400       $108,200

STP       $1,348,262           $598,870         $226,000         $85,288     Y/Y
                $171,275          $106,002           $28,222         $19,757

TSL          $301,819          $114,500           $27,275              $414     Y/Y
                 $35,730            $12,421             $3,311              ($12)

WFR         $546,000          $531,400         $501,400         $535,900     Q/Q
               $182,800          $176,100          ($41,800)        $376,400

"Based on this preliminary information ENER and FSLR seem to be the better companies. I like both for following reason.
ESLR: Has products for Solar panels and they claim to have more efficiency, are flexible and yet strong since they are coated on thin steel plate / coil. Also they have NiMh battery and fuel cells operation. They seem to have full range of products / solutions for alternate fuel that can be used with Solar panels. This might be interesting to investigate further. Too many Institutional holders for such a small number of outstanding shares though. Also, their Chairman is on the Advisory Board of the National Center for Photovoltaic, so they will get some early insight and also may influence the decisions.

I have not had much of a chance to look at FSLR."   Satish