WhaleCreep

Fairholme Capital Management (Bruce Berkowitz) 13F holdings, Q4 2006

Long-only investorSEC filingsCompare with another fundHoldings as of 2006-12-31, filed 2007-02-14

Fairholme Capital Management (Bruce Berkowitz) disclosed 34 US equity positions worth $3.2bn in its Q4 2006 13F filing. Its largest position is CNQ at 23.7% of the reported book, followed by ECHOSTAR COMMUNICATIONS CORP C and PENN WEST ENERGY TR UNIT. Versus Q3 2006 it opened 3 new positions, added to 12, reduced 4 and exited 1.

$3.2bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
34
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
23.7%
Largest position
The largest single position as a share of the reported equity book.
86.3%
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 Q3 2006: 3 new, 12 added, 4 reduced, 1 exited

34 rows
CNQ CANADIAN NAT RES LTD MED TEREnergy23.7%$765m14.38m+17%added
ECHOSTAR COMMUNICATIONS CORP C no ticker–16.2%$522m13.71m+0.8%added
PENN WEST ENERGY TR UNIT no ticker–11.5%$372m12.16m+46%added
MHK MOHAWK INDS INCConsumer Cyclical7.9%$254m3.40m+26%added
LEUCADIA NATL CORP no ticker–6.0%$194m6.88m+6.5%added
SHLDEUR SEARS HLDGS CORP–5.2%$166m990,871+0.4%held
U S G CORP no ticker–5.0%$162m2.96m+48%added
PHELPS DODGE CORP no ticker–3.7%$118m988,800+6.3%added
EMN EASTMAN CHEMICAL COBasic Materials3.6%$115m1.94m+7.6%added
MUELLER WTR PRODS INC no ticker–3.5%$114m7.66m–new
IDT CORP no ticker–2.6%$83.1m6.35m0.0%held
TAL INTL GROUP INC no ticker–2.3%$73.7m2.76m0.0%held
DUKE ENERGY CORP no ticker–2.0%$66.0m1.99m0.0%held
USA MOBILITY INC no ticker–1.6%$53.1m2.37m−12%reduced
MRSH MARSH & MCLENNAN COS INCFinancial Services1.2%$39.6m1.29m−0.2%held
CLMTUSD CALUMET SPECIALTY PRODS PART–0.7%$24.0m598,553−26%reduced
HOMEFED CORP no ticker–0.7%$21.0m318,552−0.3%held
IDT CORP no ticker–0.6%$20.7m1.53m0.0%held
WHITE MTNS INS GROUP LTD no ticker–0.5%$17.2m29,7220.0%held
WINTHROP REALTY TRUST INC no ticker–0.4%$13.9m2.04m+26%added
MWA Mueller Water Products Inc.Industrials0.4%$13.0m871,000–new
MCY MERCURY GENL CORP NEWFinancial Services0.1%$4.0m75,850−7.1%reduced
KALU KAISER ALUMINUM CORPBasic Materials0.09%$3.0m54,2000.0%held
DJCO DAILY JOURNAL CORPTechnology0.09%$2.9m67,496+13%added
HSBC HSBC HLDGS PLCFinancial Services0.05%$1.6m17,590+0.8%added
KO COCA COLA COConsumer Defensive0.03%$839k17,397+1.2%added
TWMCEUR TRANS WORLD ENTMT CORP–0.02%$784k119,200–new
GYRODYNE CO AMER INC no ticker–0.02%$684k11,0260.0%held
WESCO FINL CORP no ticker–0.02%$682k1,4820.0%held
SYXUSD SYSTEMAX INC–0.02%$602k34,5000.0%held
MKL MARKEL GROUP INCFinancial Services0.01%$361k751−51%reduced
MU MICRON TECHNOLOGY INCTechnology0.01%$279k20,0000.0%held
ONEOK PARTNERS LP no ticker–0.01%$253k4,0000.0%held
MERITOR SVGS BK PA no ticker–0.01%$205k43,6450.0%held

Exited since Q3 2006

1 row
NLYEUR ANNALY CAPITAL MANAGEMENT IN1.6%$42.2m

Sector mix

  • Unclassified62.8%
  • Energy23.7%
  • Consumer Cyclical7.9%
  • Basic Materials3.7%
  • Financial Services1.4%
  • Industrials0.4%
  • Technology0.10%
  • 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