SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
CIRCUIT CITY STORES, INC.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $0.50 par value
--------------------------------------------------------------------------------
(Title of Class of Securities)
172737108
--------------------------------------------------------------------------------
(CUSIP Number)
December 31, 2006
--------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which thisSchedule
is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
1 of 10
------------------------------- -------------------------------
CUSIP No. 172737108 13G
------------------------------- -------------------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Maverick Capital, Ltd. - 75-2482446
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
--------------------------------------------------------------------------------
| 5 SOLE VOTING POWER
| 11,162,284
NUMBER OF ---------------------------------------------------------------
SHARES | 6 SHARED VOTING POWER
BENEFICIALLY | 0
OWNED BY ----------------------------------------------------------------
EACH | 7 SOLE DISPOSITIVE POWER
REPORTING | 11,162,284
PERSON WITH ----------------------------------------------------------------
| 8 SHARED DISPOSITIVE POWER
| 0
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,162,284
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.4%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
2 of 10
------------------------------- -------------------------------
CUSIP No. 172737108 13G
------------------------------- -------------------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Maverick Capital Management, LLC - 75-2686461
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
--------------------------------------------------------------------------------
| 5 SOLE VOTING POWER
| 11,162,284
NUMBER OF ---------------------------------------------------------------
SHARES | 6 SHARED VOTING POWER
BENEFICIALLY | 0
OWNED BY ----------------------------------------------------------------
EACH | 7 SOLE DISPOSITIVE POWER
REPORTING | 11,162,284
PERSON WITH ----------------------------------------------------------------
| 8 SHARED DISPOSITIVE POWER
| 0
-------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,162,284
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.4%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
HC
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
3 of 10
------------------------------- -------------------------------
CUSIP No. 172737108 13G
------------------------------- -------------------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Lee S. Ainslie III
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
--------------------------------------------------------------------------------
| 5 SOLE VOTING POWER
| 11,162,284
NUMBER OF ---------------------------------------------------------------
SHARES | 6 SHARED VOTING POWER
BENEFICIALLY | 0
OWNED BY ----------------------------------------------------------------
EACH | 7 SOLE DISPOSITIVE POWER
REPORTING | 11,162,284
PERSON WITH ----------------------------------------------------------------
| 8 SHARED DISPOSITIVE POWER
| 0
-------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,162,284
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.4%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
HC
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
4 of 10
Item 1(a) Name of Issuer.
Circuit City Stores, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices.
9950 Mayland Drive
Richmond, Virginia 23233
Item 2(a) Name of Person Filing.
This Schedule 13G (the "Schedule 13G") is being filed on
behalf of each of the following persons (each, a "Reporting
Person"):
(i) Maverick Capital, Ltd.;
(ii) Maverick Capital Management, LLC; and
(iii) Lee S. Ainslie III ("Mr. Ainslie").
The Schedule 13G relates to Shares (as defined herein) held for the
accounts of Maverick Capital, Ltd.'s clients.
Item 2(b) Address of Principal Business Office, or, if none, Residence.
The address of the principal business office of (i) Maverick
Capital, Ltd. and Maverick Capital Management, LLC is 300 Crescent
Court, 18th Floor, Dallas, Texas 75201, and (ii) Mr. Ainslie is 767
Fifth Avenue, 11th Floor, New York, New York 10153.
Item 2(c) Citizenship or Place of Organization.
(i) Maverick Capital, Ltd. is a Texas limited partnership;
(ii) Maverick Capital Management, LLC is a Texas limited
liability company; and
(iii) Mr. Ainslie is a citizen of the United States.
Item 2(d) Title of Class of Securities.
Common Stock, $0.50 par value (the "Shares").
Item 2(e) CUSIP Number.
172737108
5 of 10
Item 3. If this statement is filed pursuant to ss.ss.240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under section 15 of the Act (15
U.S.C. 78o).
(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C.
78c).
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act
(15 U.S.C. 78c).
(d) [ ] Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e) [X ] An investment advisor in accordance with ss.240.13d-1(b)
(1)(ii)(E).
(f) [ ] An employee benefit plan or endowment fund in accordance with
ss.240.13d-1(b)(1)(ii)(F).
(g) [X] A parent holding company or control person in accordance with
ss.240.13d-1(b)(1)(ii)(G).
(h) [ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813).
(i) [ ] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3).
(j) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).
Item 4 Ownership.
Ownership as of December 31, 2006 is incorporated by
reference to items (5) - (9) and (11) of the cover page of
the Reporting Person.
Item 5 Ownership of Five Percent or Less of a Class.
Not applicable.
Item 6 Ownership of More Than Five Percent on Behalf of Another
Person.
Maverick Capital, Ltd. is an investment adviser registered
under Section 203 of the Investment Advisers Act of 1940 and,
as such, has beneficial ownership of the Shares which are the
subject of this filing through the investment discretion it
exercises over its clients' accounts. Maverick Capital
Management, LLC is the General Partner of Maverick Capital,
Ltd. Mr. Ainslie is a manager of Maverick Capital Management,
LLC and is granted sole investment discretion pursuant to
Maverick Capital Management, LLC's Regulations.
Item 7 Identification and Classification of the Subsidiary which
Acquired the Security Being Reported On by the Parent Holding
Company.
Not applicable.
6 of 10
Item 8 Identification and Classification of Members of the Group.
Not applicable.
Item 9 Notice of Dissolution of Group.
Not applicable.
Item 10 Certification.
By signing below each of the Reporting Persons certifies
that, to the best of such person's knowledge, and belief, the
securities referred to above were acquired and are held in
the ordinary course of business and were not acquired and are
not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and
were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: February 14, 2007 MAVERICK CAPITAL, LTD.
By: Maverick Capital Management, LLC,
Its General Partner
By: Lee S. Ainslie III, Manager
By: /s/ John T. McCafferty
-------------------------------
John T. McCafferty Under
Power of Attorney dated
February 13, 2003
Date: February 14, 2007 MAVERICK CAPITAL MANAGEMENT, LLC
By: Lee S. Ainslie III, Manager
By: /s/ John T. McCafferty
-------------------------------
John T. McCafferty Under
Power of Attorney dated
February 13, 2003
7 of 10
Date: February 14, 2007 LEE S. AINSLIE III
By: /s/ John T. McCafferty
-----------------------------------
John T. McCafferty Under
Power of Attorney dated
February 13, 2003
8 of 10
EXHIBIT INDEX
A. Joint Filing Agreement, dated February 14, 2007, by and among Maverick
Capital, Ltd., Maverick Capital Management, LLC, and Lee S. Ainslie
III.
9 of 10
Exhibit A
Joint Filing Agreement
The undersigned hereby agree that the statement on Schedule 13G with
respect to the Common Stock, $0.50 par value of Circuit City Stores, Inc., dated
as of February 14, 2007, is, and any amendments thereto (including amendments on
Schedule 13D) signed by each of the undersigned shall be, filed on behalf of
each of us pursuant to and in accordance with the provisions of Rule 13d-1(k)
under the Securities Exchange Act of 1934.
Date: February 14, 2007
MAVERICK CAPITAL, LTD.
By: Maverick Capital Management, LLC
Its General Partner
By: Lee S. Ainslie III, Manager
By: /s/ John T. McCafferty
-------------------------------------
John T. McCafferty Under
Power of Attorney dated
February 13, 2003
MAVERICK CAPITAL MANAGEMENT, LLC
By: Lee S. Ainslie III, Manager
By: /s/ John T. McCafferty
-------------------------------------
John T. McCafferty
Under Power of Attorney dated
February 13, 2003
LEE S. AINSLIE III
By: /s/ John T. McCafferty
-------------------------------------
John T. McCafferty Under Power
of Attorney dated February 13, 2003