WhaleCreep

Fairholme Capital Management (Bruce Berkowitz) 13F holdings, Q3 2006

Long-only investorSEC filingsCompare with another fundHoldings as of 2006-09-30, filed 2006-11-14

Fairholme Capital Management (Bruce Berkowitz) disclosed 32 US equity positions worth $2.6bn in its Q3 2006 13F filing. Its largest position is CNQ at 21.9% of the reported book, followed by ECHOSTAR COMMUNICATIONS CORP C and PENN WEST ENERGY TR UNIT. Versus Q2 2006 it opened 5 new positions, added to 8, reduced 5 and exited 3.

$2.6bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
32
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
21.9%
Largest position
The largest single position as a share of the reported equity book.
85.8%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
9
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
110
Quarters on file since Q1 1999
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q2 2006: 5 new, 8 added, 5 reduced, 3 exited

32 rows
CNQ CANADIAN NAT RES LTD MED TEREnergy21.9%$561m12.31m–new
ECHOSTAR COMMUNICATIONS CORP C no ticker–17.4%$445m13.60m+3.2%added
PENN WEST ENERGY TR UNIT no ticker–12.0%$307m8.34m–new
MHK MOHAWK INDS INCConsumer Cyclical7.8%$201m2.70m+34%added
LEUCADIA NATL CORP no ticker–6.6%$169m6.46m−2.4%reduced
SHLDEUR SEARS HLDGS CORP–6.1%$156m987,071−0.9%reduced
EMN EASTMAN CHEMICAL COBasic Materials3.8%$97.3m1.80m+1751%added
U S G CORP no ticker–3.7%$94.3m2.01m–new
IDT CORP no ticker–3.6%$91.6m6.35m0.0%held
PHELPS DODGE CORP no ticker–3.1%$78.8m930,000+93%added
USA MOBILITY INC no ticker–2.4%$61.7m2.70m0.0%held
DUKE ENERGY CORP no ticker–2.3%$60.0m1.99m+3.4%added
TAL INTL GROUP INC no ticker–2.2%$55.6m2.76m0.0%held
NLYEUR ANNALY CAPITAL MANAGEMENT IN–1.6%$42.2m3.21m−36%reduced
MRSH MARSH & MCLENNAN COS INCFinancial Services1.4%$36.4m1.29m+28%added
CLMTUSD CALUMET SPECIALTY PRODS PART–1.0%$26.0m812,333+11%added
IDT CORP no ticker–0.8%$21.6m1.53m0.0%held
HOMEFED CORP no ticker–0.8%$21.4m319,622−0.1%held
WHITE MTNS INS GROUP LTD no ticker–0.6%$14.8m29,7220.0%held
WINTHROP REALTY TRUST INC no ticker–0.4%$10.5m1.62m0.0%held
MCY MERCURY GENL CORP NEWFinancial Services0.2%$4.1m81,650−2.9%reduced
KALU KAISER ALUMINUM CORPBasic Materials0.09%$2.4m54,200–new
DJCO DAILY JOURNAL CORPTechnology0.09%$2.3m59,9460.0%held
HSBC HSBC HLDGS PLCFinancial Services0.06%$1.6m17,448+3.5%added
KO COCA COLA COConsumer Defensive0.03%$768k17,197−1.1%reduced
WESCO FINL CORP no ticker–0.03%$648k1,4820.0%held
MKL MARKEL GROUP INCFinancial Services0.02%$633k1,5410.0%held
SYXUSD SYSTEMAX INC–0.02%$553k34,5000.0%held
GYRODYNE CO AMER INC no ticker–0.02%$528k11,0260.0%held
MU MICRON TECHNOLOGY INCTechnology0.01%$348k20,0000.0%held
ONEOK PARTNERS LP no ticker–0.01%$225k4,000–new
MERITOR SVGS BK PA no ticker–0.01%$174k43,6450.0%held

Exited since Q2 2006

3 rows
AN AUTONATION INC1.1%$16.1m
WFC WELLS FARGO & CO0.3%$4.8m
INTL ASSETS HLDG CORP no ticker0.02%$232k

Sector mix

  • Unclassified64.6%
  • Energy21.9%
  • Consumer Cyclical7.8%
  • Basic Materials3.9%
  • Financial Services1.7%
  • Technology0.1%
  • Consumer Defensive0.03%

Book over time

Every quarter on file (110)
QuarterPositionsEquity book
Q2 202613$1.5bn
Q1 202610$1.5bn
Q4 202515$1.4bn
Q3 202512$1.2bn
Q2 202512$1.2bn
Q1 202512$1.2bn
Q4 202410$1.2bn
Q3 20247$1.5bn
Q2 20247$1.4bn
Q1 20247$1.5bn
Q4 20237$1.6bn
Q3 20238$1.4bn
Q2 202311$1.3bn
Q1 202311$1.2bn
Q4 202212$1.2bn
Q3 202213$1.0bn
Q2 202215$1.2bn
Q1 202214$1.7bn
Q4 202118$1.5bn
Q3 202115$1.2bn
Q2 202115$1.3bn
Q1 202115$1.2bn
Q4 202020$1.2bn
Q3 202013$653m
Q2 20207$598m
Q1 20207$510m
Q4 20193$528m
Q3 20194$475m
Q2 20193$467m
Q1 20193$473m
Q4 20183$367m
Q3 20189$599m
Q2 201812$744m
Q1 201810$701m
Q4 20175$726m
Q3 20175$907m
Q2 20179$982m
Q1 20179$1.0bn
Q4 20168$983m
Q3 201612$1.2bn
Q2 201612$1.5bn
Q1 201613$1.7bn
Q4 201519$2.4bn
Q3 201522$3.5bn
Q2 201516$4.9bn
Q1 201517$5.3bn
Q4 201418$7.3bn
Q3 201424$7.3bn
Q2 201455$9.9bn
Q1 201447$9.9bn
Q4 201345$9.7bn
Q3 201319$8.4bn
Q2 201319$7.7bn
Q1 201315$7.4bn
Q4 201214$6.5bn
Q3 201215$6.4bn
Q2 201213$6.3bn
Q1 201213$7.0bn
Q4 201113$4.8bn
Q3 201119$6.0bn
Q2 201115$9.6bn
Q1 201122$10.8bn
Q4 201017$12.2bn
Q3 201015$8.4bn
Q2 201019$7.5bn
Q1 201017$7.7bn
Q4 200922$6.7bn
Q3 200919$5.1bn
Q2 200927$4.9bn
Q1 200927$3.8bn
Q4 200831$4.7bn
Q3 200833$6.6bn
Q2 200834$5.4bn
Q1 200832$5.5bn
Q4 200728$4.7bn
Q3 200728$4.4bn
Q2 200729$4.0bn
Q1 200730$3.7bn
Q4 200634$3.2bn
Q3 200632$2.6bn
Q2 200630$1.4bn
Q1 200630$1.4bn
Q4 200527$1.3bn
Q3 200527$1.1bn
Q2 200528$989m
Q1 200525$788m
Q4 200426$727m
Q3 200424$556m
Q2 200425$392m
Q1 200430$439m
Q4 200328$367m
Q3 200328$321m
Q2 200330$300m
Q1 200328$245m
Q4 200227$236m
Q3 200226$219m
Q2 200231$218m
Q1 200235$228m
Q4 200149$221m
Q3 200152$204m
Q2 200155$167m
Q1 200152$164m
Q4 200059$170m
Q3 200054$140m
Q2 200054$117m
Q1 200050$124m
Q4 199955$134m
Q3 199949$127m
Q2 199942$154m
Q1 199925$132m

Where Fairholme Capital Management (Bruce Berkowitz) was early

34 rows
MCY MERCURY GENL CORP NEWQ2 19991 of 997.9%48.0%41Exited by Q3 2014+38%
RLI RLI CORPQ2 19991 of 840.9%2.8%17Exited by Q4 2005+139%
HSBC HSBC HLDGS PLC SPONQ2 20031 of 681.5%1.5%25Exited by Q3 2009−29%
CNQ CANADIAN NAT RES LTDQ4 20042 of 1423.8%34.8%23Exited by Q1 2021+128%
MRSH MARSH & MCLENNAN COS INCQ2 20052 of 1402.1%2.2%8Exited by Q3 2007+11%
AN AUTONATION INCQ1 20062 of 1431.0%1.1%2Exited by Q3 2006−0.5%
MHK MOHAWK INDS INCQ1 20064 of 1737.4%10.1%11Exited by Q4 2008−17%
EMN EASTMAN CHEM COQ2 20062 of 1250.4%6.9%7Exited by Q1 2008+13%
FCX FREEPORT-MCMORAN COPPER & GOLDQ1 20073 of 2231.2%3.2%3Exited by Q4 2007+58%
DISH DISH NETWORK CORPQ4 20071 of 13817.5%17.5%5Exited by Q1 2009−71%
JOE ST JOE COQ4 20071 of 672.7%98.9%75Held at last filing, Q2 2026+76%
ECHO ECHOSTAR CORPQ1 20081 of 2093.1%3.5%3Exited by Q4 2008−18%
URI UNITED RENTALS INCQ1 20082 of 1801.5%3.5%8Exited by Q1 2010−48%
UNH UNITEDHEALTH GROUP INCQ2 20088 of 2998.2%10.4%5Exited by Q3 2009−4.8%
NOC NORTHROP GRUMMAN CORPQ3 20081 of 1554.0%8.7%5Exited by Q4 2009−15%
BA BOEING COQ3 20082 of 2217.1%8.3%4Exited by Q3 2009−26%
S9Q SPIRIT AEROSYSTEMS HLDGS INC CQ3 20083 of 1530.7%9.3%11Exited by Q2 2011+6.5%
GD GENERAL DYNAMICS CORPQ4 20085 of 1342.8%2.8%3Exited by Q3 2009−3.8%
CMCSA COMCAST CORPQ4 20096 of 2192.3%2.3%3Exited by Q3 2010+3.0%
AIG AMERICAN INTL GROUP INCQ1 20101 of 1556.7%50.1%24Exited by Q1 2016+82%
BAC BK OF AMERICA CORPQ1 201017 of 2329.1%26.1%29Exited by Q1 2021+70%
GS GOLDMAN SACHS GROUP, INCQ2 201010 of 22910.5%10.5%7Exited by Q1 2012−31%
GE GENERAL ELECTRIC CORPQ3 20107 of 2422.8%2.8%2Exited by Q1 2011+13%
T AT&T INCQ4 20105 of 2172.3%5.3%11Exited by Q2 2021+3.0%
VZ VERIZON COMMUNICATIONS INCQ4 20106 of 1802.2%2.2%4Exited by Q2 2021+63%
BRK/B BERKSHIRE HATHAWAY INC DELQ2 20139 of 1801.1%10.3%42Held at last filing, Q2 2026+347%
LE LANDS END INC NEWQ2 20141 of 821.1%6.8%10Exited by Q3 2017−56%
SRG SERITAGE GROWTH PPTYSQ3 20151 of 823.6%19.1%11Exited by Q2 2018−4.6%
DNOW NOW INCQ3 20154 of 1332.9%7.3%3Exited by Q2 2016+20%
37M MRC GLOBAL INCQ3 20155 of 841.7%3.0%2Exited by Q1 2016+16%
IBM INTERNATIONAL BUSINESS MACHSQ3 201512 of 1683.2%3.2%2Exited by Q1 2016−5.1%
VST VISTRA CORPQ1 201816 of 2803.1%4.2%5Exited by Q3 2021−11%
SPB SPECTRUM BRANDS HLDGS INC NEQ2 20186 of 1472.7%3.6%2Exited by Q4 2018−7.5%
OXY OCCIDENTAL PETE CORPQ1 202019 of 1921.0%1.0%7Exited by Q1 2026+255%

Concentration and tenure

41.7%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
98.7%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
3
Median completed holding, quarters