Funds › Fairholme Capital Management (Bruce Berkowitz) › Q3 2008Fairholme Capital Management (Bruce Berkowitz) 13F holdings, Q3 2008 Fairholme Capital Management (Bruce Berkowitz) disclosed 33 US equity positions worth $6.6bn in its Q3 2008 13F filing. Its largest position is SHLDEUR at 20.6% of the reported book, followed by LEUCADIA NATL CORP and UNH. Versus Q2 2008 it opened 5 new positions, added to 8, reduced 12 and exited 6.
$6.6bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
33 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
20.6% Largest position The largest single position as a share of the reported equity book.
84.9% Top 10 weight The ten largest positions together, as a share of the reported equity book.
11 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 2008: 5 new , 8 added , 12 reduced , 6 exited
33 rows
Stock Sector Weight Value Shares Δ shares Action SHLDEUR SEARS HLDGS CORP – 20.6% $1.4bn 14.60m +18% added LEUCADIA NATL CORP no ticker – 10.6% $704m 15.50m +35% added UNH UNITEDHEALTH GROUP INC Healthcare 7.9% $525m 20.70m +22% added FOREST LABS INC no ticker – 7.7% $512m 18.09m +47% added CNQ CANADIAN NAT RES LTD MED TER Energy 7.2% $477m 6.96m +46% added BA BOEING CO Industrials 7.1% $472m 8.24m – new MHK MOHAWK INDS INC Consumer Cyclical 6.6% $439m 6.51m −9.1% reduced JOE ST JOE CO Real Estate 6.5% $430m 11.01m +16% added DISH DISH NETWORK CORPORATION – 6.2% $411m 19.58m −21% reduced WCGEUR WELLCARE HEALTH PLANS INC – 4.5% $300m 8.33m – new NOC NORTHROP GRUMMAN CORP Industrials 4.0% $266m 4.39m – new AMERICREDIT CORP no ticker – 3.2% $213m 21.05m +40% added URI UNITED RENTALS INC Industrials 2.0% $132m 8.65m −11% reduced HERTZ GLOBAL HOLDINGS INC no ticker – 1.4% $93.6m 12.36m – new ECHO ECHOSTAR CORP Communication Services 1.3% $87.2m 3.62m −41% reduced MUELLER WTR PRODS INC no ticker – 1.0% $64.2m 9.88m −24% reduced TAL INTL GROUP INC no ticker – 0.8% $50.7m 2.44m 0.0% held S9Q SPIRIT AEROSYSTEMS HLDGS INC – 0.7% $48.7m 3.03m – new WINTHROP RLTY TR SH BEN INT no ticker – 0.3% $19.8m 5.09m +17% added HOMEFED CORP no ticker – 0.1% $9.1m 208,957 −28% reduced WHITE MTNS INS GROUP LTD no ticker – 0.05% $3.4m 7,274 0.0% held IDT CORP no ticker – 0.03% $2.3m 3.12m −53% reduced DJCO DAILY JOURNAL CORP Technology 0.03% $2.3m 52,479 −19% reduced HSBC HSBC HLDGS PLC Financial Services 0.02% $1.5m 18,847 0.0% held IDT CORP no ticker – 0.02% $1.3m 2.55m −3.4% reduced BMY BRISTOL-MYERS SQUIBB CO Healthcare 0.02% $1.2m 56,100 −0.7% reduced PENN WEST ENERGY TR TR UNIT no ticker – 0.01% $768k 31,877 −81% reduced KO COCA COLA CO Consumer Defensive 0.01% $682k 12,900 0.0% held GYRODYNE CO AMER INC no ticker – 0.01% $420k 11,026 0.0% held WESCO FINL CORP no ticker – 0.01% $350k 980 0.0% held MCY MERCURY GENL CORP NEW Financial Services 0.0% $282k 5,150 −92% reduced MKL MARKEL GROUP INC Financial Services 0.0% $264k 750 0.0% held MERITOR SVGS BK PA no ticker – 0.0% $135k 43,645 0.0% held
Exited since Q2 2008 6 rows
Stock Prior weight Prior value U S G CORP no ticker 3.8% $209m MYLAN INC no ticker 3.1% $166m MWA Mueller Water Products Inc. 0.06% $3.2m DUKE ENERGY CORP no ticker 0.01% $754k SPECTRA ENERGY CORP no ticker 0.01% $624k CLMTUSD CALUMET SPECIALTY PRODS PART 0.01% $622k
Sector mix Unclassified 57.3% Industrials 13.1% Healthcare 7.9% Energy 7.2% Consumer Cyclical 6.6% Real Estate 6.5% Communication Services 1.3% Technology 0.03% Financial Services 0.03% Consumer Defensive 0.01% Book over time Every quarter on file (110) Where Fairholme Capital Management (Bruce Berkowitz) was early 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