Securities and Exchange Commission
Washington, D. C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
Meritage Homes Corp.
Common Stock
CUSIP Number 59001A102
Date of Event Which Requires Filing of this Statement: July 31, 2006
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ X ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
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CUSIP No. 59001A102
1) Name of reporting person:
Legg Mason Capital Management, Inc.
Tax Identification No.:
52-1268629
2) Check the appropriate box if a member of a group:
a) n/a
b) n/a
3) SEC use only
4) Place of organization:
Maryland
Number of shares beneficially owned by each reporting person with:
5) Sole voting power: - 0 -
6) Shared voting power: 2,077,650
7) Sole dispositive power: - 0 -
8) Shared dispositive power: 2,077,650
9) Aggregate amount beneficially owned by each reporting person:
2,077,650
10) Check if the aggregate amount in row (9) excludes certain shares:
n/a
11) Percent of class represented by amount in row (9):
7.80%
12) Type of reporting person:
IA, CO
CUSIP No. 59001A102
1) Name of reporting person:
LMM LLC
Tax Identification No.:
52-2204753
2) Check the appropriate box if a member of a group:
a) n/a
b) n/a
3) SEC use only
4) Place of organization:
Delaware
Number of shares beneficially owned by each reporting person with:
5) Sole voting power: - 0 -
6) Shared voting power: 700,000
7) Sole dispositive power: - 0 -
8) Shared dispositive power: 700,000
9) Aggregate amount beneficially owned by each reporting person:
700,000
10) Check if the aggregate amount in row (9) excludes certain shares:
n/a
11) Percent of class represented by amount in row (9):
2.63%
12) Type of reporting person:
IA, OO
CUSIP No. 59001A102
1) Name of reporting person:
Legg Mason Special Investment Trust, Inc.
Tax Identification No.:
52-1433357
2) Check the appropriate box if a member of a group:
a) n/a
b) n/a
3) SEC use only
4) Place of organization:
Maryland
Number of shares beneficially owned by each reporting person with:
5) Sole voting power: - 0 -
6) Shared voting power: 1,800,000
7) Sole dispositive power - 0 -
8) Shared dispositive power: 1,800,000
9) Aggregate amount beneficially owned by each reporting person:
1,800,000
10) Check if the aggregate amount in row (9) excludes certain shares:
n/a
11) Percent of class represented by amount in row (9):
6.75%
12) Type of reporting person:
IV, CO
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Item 1a) Name of issuer:
Meritage Homes Corp.
Item 1b) Address of issuer's principal executive offices:
8501 E. Princess Drive, Suite 290
Scottsdale, Arizona 85255
Item 2a) Name of person filing:
Legg Mason Capital Management, Inc.
LMM LLC
Item 2b) Address of principal business office:
100 Light Street
Baltimore, MD 21202
Item 2c) Citizenship:
Legg Mason Capital Management, Inc.
Maryland Corporation
LMM LLC
Delaware Limited Liability Company
Item 2d) Title of class of securities:
Common Stock
Item 2e) CUSIP number: 59001A102
Item 3) If this statement is filed pursuant to Rule 13d-1(b), or
13d-2(b), check whether the person filing is a:
(a)[ ] Broker or dealer under Section 15 of the Act.
(b)[ ] Bank as defined in Section 3(a)(6) of the Act.
(c)[ ] Insurance Company as defined in Section 3(a)(6) of the Act.
(d)[ ] Investment Company registered under Section 8 of the Investment
Company Act.
(e)[ ] Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940.
(f)[ ] Employee Benefit Plan, Pension Fund which is subject to ERISA
of 1974 or Endowment Funds; see 240.13d-1(b)(ii)(F).
(g)[ ] Parent holding company, in accordance with 240.13d-1(b)(ii)(G),
(h)[X] Group, in accordance with 240.13d-1(b)(1)(ii)(J).
Item 4) Ownership:
(a) Amount beneficially owned:
2,777,650
(b) Percent of Class:
10.43%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
- 0 -
(ii) shared power to vote or to direct the vote:
2,777,650
(iii) sole power to dispose or to direct the disposition of:
- 0 -
(iv) shared power to dispose or to direct the disposition of:
2,777,650
Item 5) Ownership of Five Percent or less of a class:
n/a
Item 6) Ownership of more than Five Percent on behalf of another
person:
The interest of one account, Legg Mason Special Investment
Trust, Inc. an investment company registered under the
Investment Company Act of 1940 and managed by Legg Mason
Capital Management, Inc., amounted to 1,800,000 shares or
6.75% of the total shares outstanding.
Item 7) Identification and classification of the subsidiary which
acquired the security being reported on by the parent holding company:
n/a
Item 8) Identification and classification of members of the group:
Legg Mason Capital Management, Imc.-investment adviser
LMM LLC - investment adviser
Item 9) Notice of dissolution of group:
n/a
Item 10) Certification:
By signing below I certify that, to the best of my 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.
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Date - August 9, 2006
Legg Mason Capital Management, Inc.
By___________________________________________
Andrew J. Bowden, Senior Vice President
LMM LLC
By____________________________________________
Jennifer Murphy, Chief Operations Officer
Exhibit A
Joint Filing Agreement
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This Joint Filing Agreement confirms the agreement by and among the
undersigned that the Schedule 13G is filed on behalf of (i) each member
of the group identified in Item 8 and (ii) the other reporting person(s)
identified in Item 6 that may be deemed to beneficially own more than
five percent of the issuer's outstanding equity securities
..
Legg Mason Capital Management, Inc.
By__________________________________________________
Andrew J. Bowden, Senior Vice President
Legg Mason Special Investment Trust, Inc.
By___________________________________________________
Gregory T. Merz, Vice President
LMM LLC
By____________________________________________
Jennifer Murphy, Chief Operations Officer