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Bruce Berkowitz Buys BAC, MBI, T, VZ, RDS.A, STD, TEF, WFC

gurufocus

gurufocus

332 followers
Facing strong redemptions, Bruce Berkowitz had to sell some of his financials to add to other financials, his more favorite ones. His confidence in Bank of America and AIG is proven again by his purchases of warrants in these positions. As of 09/30/2011, Fairholme Capital Management owns 26 stocks with a total value of $8.2 billion. These are the details of the buys and sells.

Bruce Berkowitz buys American International Group Inc. Warrants, Bank Of America Corp., Bank Of America Warrants, Mbia Inc., Verizon Communications Inc., At&t, Telefonica S.a. Ads, Banco Santander S.a. Ads, Royal Dutch Shell Ads Cl A, Wells Fargo & Co. Wt, Wells Fargo & Co., sells The Goldman Sachs Group Inc., Regions Financial Corp., Morgan Stanley, Berkshire Hathaway B, Assured Guaranty Ltd., Eli Lilly & Co., Winthrop Realty Trust, Rsc Holdings during the 3-months ended 09/30/2011, according to the most recent filings of his investment company, Fairholme Capital Management.

This is the portfolio chart of Bruce Berkowitz. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.



For the details of Bruce Berkowitz's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Bruce+Berkowitz

This is the sector weightings of his portfolio:

Financials 86.3%
Consumer Services 11.4%
Not Assigned 2%
Telecom 0.3%
Utilities 0.1%


These are the top 5 holdings of Bruce Berkowitz

  1. American International Group Inc. (AIG) - 101,481,743 shares, 27.1% of the total portfolio. Shares reduced by 1.63%
  2. Sears Holdings Corp. (SHLD) - 16,270,692 shares, 11.4% of the total portfolio. Shares reduced by 0.67%
  3. Bank Of America Corp. (BAC) - 105,012,095 shares, 7.8% of the total portfolio. Shares added by 5.38%
  4. Citigroup Inc. (C) - 24,924,003 shares, 7.8% of the total portfolio. Shares reduced by 5.55%
  5. Brookfield Asset Management (BAM) - 22,246,400 shares, 7.5% of the total portfolio. Shares reduced by 18.42%


New Purchase: American International Group Inc. Warrants (AIG.WS)

Bruce Berkowitz initiated holdings in American International Group Inc. Warrants. His purchase prices were between $6.3 and $10.55, with an estimated average price of $8.28. The impact to his portfolio due to this purchase was 1.79%. His holdings were 23,967,230 shares as of 09/30/2011. .

New Purchase: Bank Of America Warrants (BAC.WS.A)

Bruce Berkowitz initiated holdings in Bank Of America Warrants. His purchase prices were between $2.58 and $5.52, with an estimated average price of $3.89. The impact to his portfolio due to this purchase was 0.2%. His holdings were 6,157,801 shares as of 09/30/2011. .

New Purchase: Verizon Communications Inc. (VZ)

Bruce Berkowitz initiated holdings in Verizon Communications Inc.. His purchase prices were between $33.12 and $37.82, with an estimated average price of $36.04. The impact to his portfolio due to this purchase was 0.06%. His holdings were 130,000 shares as of 09/30/2011. Verizon Communications Inc. has a market cap of $104.75 billion; its shares were traded at around $37 with a P/E ratio of 17 and P/S ratio of 1. The dividend yield of Verizon Communications Inc. stocks is 5.4%. Verizon Communications Inc. had an annual average earnings growth of 2.7% over the past 10 years. GuruFocus rated Verizon Communications Inc. the business predictability rank of 2.5-star.

New Purchase: AT&T (T)

Bruce Berkowitz initiated holdings in At&t. His purchase prices were between $27.54 and $31.63, with an estimated average price of $29.17. The impact to his portfolio due to this purchase was 0.06%. His holdings were 160,000 shares as of 09/30/2011. AT&T Inc. is a premier communications holding company. At&t has a market cap of $172.98 billion; its shares were traded at around $29.19 with a P/E ratio of 12.5 and P/S ratio of 1.4. The dividend yield of At&t stocks is 5.9%. At&t had an annual average earnings growth of 4.7% over the past 10 years.

New Purchase: Royal Dutch Shell Ads Cl A (RDS.A)

Bruce Berkowitz initiated holdings in Royal Dutch Shell Ads Cl A. His purchase prices were between $60.01 and $75.14, with an estimated average price of $67.38. The impact to his portfolio due to this purchase was 0.05%. His holdings were 70,000 shares as of 09/30/2011. Royal Dutch Petroleum Company owns 60% of the Royal Dutch/Shell Group of companies. Royal Dutch Shell Ads Cl A has a market cap of $221.06 billion; its shares were traded at around $70.63 with a P/E ratio of 7.9 and P/S ratio of 0.6. The dividend yield of Royal Dutch Shell Ads Cl A stocks is 4%. Royal Dutch Shell Ads Cl A had an annual average earnings growth of 6.3% over the past 10 years. GuruFocus rated Royal Dutch Shell Ads Cl A the business predictability rank of 2.5-star.

New Purchase: Telefonica S.a. Ads (TEF)

Bruce Berkowitz initiated holdings in Telefonica S.a. Ads. His purchase prices were between $17.8 and $24.09, with an estimated average price of $20.74. The impact to his portfolio due to this purchase was 0.05%. His holdings were 220,000 shares as of 09/30/2011. Telefonica is the largest supplier of telecommunications services in the Spanish and Portuguese speaking world. Telefonica S.a. Ads has a market cap of $86.26 billion; its shares were traded at around $18.9 with a P/E ratio of 4.8 and P/S ratio of 1. The dividend yield of Telefonica S.a. Ads stocks is 9.1%. Telefonica S.a. Ads had an annual average earnings growth of 25.5% over the past 10 years. GuruFocus rated Telefonica S.a. Ads the business predictability rank of 4.5-star.

New Purchase: Banco Santander S.a. Ads (STD)

Bruce Berkowitz initiated holdings in Banco Santander S.a. Ads. His purchase prices were between $7.38 and $11.53, with an estimated average price of $9.23. The impact to his portfolio due to this purchase was 0.05%. His holdings were 510,000 shares as of 09/30/2011. Banco Santander SA is the biggest bank in Spain and the biggest international bank in Latin America as well. Banco Santander S.a. Ads has a market cap of $64.23 billion; its shares were traded at around $7.61 with a P/E ratio of 5.5 and P/S ratio of 0.6. The dividend yield of Banco Santander S.a. Ads stocks is 9.1%. Banco Santander S.a. Ads had an annual average earnings growth of 18.3% over the past 10 years.

New Purchase: Wells Fargo & Co. Wt (WFC.WS)

Bruce Berkowitz initiated holdings in Wells Fargo & Co. Wt. His purchase prices were between $7.5 and $9.94, with an estimated average price of $8.77. The impact to his portfolio due to this purchase was 0.04%. His holdings were 423,251 shares as of 09/30/2011. .

New Purchase: Wells Fargo & Co. (WFC)

Bruce Berkowitz initiated holdings in Wells Fargo & Co.. His purchase prices were between $22.88 and $29.38, with an estimated average price of $25.85. The impact to his portfolio due to this purchase was 0.01%. His holdings were 31,400 shares as of 09/30/2011. Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage and consumer finance services through stores, its Internet site and other distribution channels across North America as well as internationally. Wells Fargo & Co. has a market cap of $132.52 billion; its shares were traded at around $25.1 with a P/E ratio of 9.3 and P/S ratio of 1.4. The dividend yield of Wells Fargo & Co. stocks is 1.9%. Wells Fargo & Co. had an annual average earnings growth of 5.4% over the past 10 years.

Sold Out: Morgan Stanley (MS)

Bruce Berkowitz sold out his holdings in Morgan Stanley. His sale prices were between $13.06 and $24.2, with an estimated average price of $18.4. MORGAN STANLEY is a preeminent global financial services firm that maintains market positions in each of its three primary businesses: securities; asset management; and credit services. Morgan Stanley has a market cap of $30.69 billion; its shares were traded at around $15.92 with a P/E ratio of 9.7 and P/S ratio of 1. The dividend yield of Morgan Stanley stocks is 1.3%. Morgan Stanley had an annual average earnings growth of 2.1% over the past 10 years.

Sold Out: Eli Lilly & Co. (LLY)

Bruce Berkowitz sold out his holdings in Eli Lilly & Co.. His sale prices were between $34.49 and $39.32, with an estimated average price of $37.04. Eli Lilly and Company discovers, develops, manufactures, and sells products in one significant business segment -pharmaceutical products. Eli Lilly & Co. has a market cap of $43.59 billion; its shares were traded at around $37.65 with a P/E ratio of 8.1 and P/S ratio of 1.9. The dividend yield of Eli Lilly & Co. stocks is 5.2%. Eli Lilly & Co. had an annual average earnings growth of 1.3% over the past 10 years.

Sold Out: Rsc Holdings (RRR)

Bruce Berkowitz sold out his holdings in Rsc Holdings. His sale prices were between $6.78 and $12.97, with an estimated average price of $9.26. RSC HOLDINGS is one of the largest equipment rental providers in North America. Rsc Holdings has a market cap of $1.16 billion; its shares were traded at around $11.13 with and P/S ratio of 0.9.

Added: Bank Of America Corp. (BAC)

Bruce Berkowitz added to his holdings in Bank Of America Corp. by 5.38%. His purchase prices were between $6.06 and $11, with an estimated average price of $8.26. The impact to his portfolio due to this purchase was 0.4%. His holdings were 105,012,095 shares as of 09/30/2011. Bank of America Corp. is one of the world's financial services companies. Bank Of America Corp. has a market cap of $61.31 billion; its shares were traded at around $6.05 with and P/S ratio of 0.5. The dividend yield of Bank Of America Corp. stocks is 0.7%.

Added: Mbia Inc. (MBI)

Bruce Berkowitz added to his holdings in Mbia Inc. by 3.48%. His purchase prices were between $6.32 and $10.2, with an estimated average price of $8.13. The impact to his portfolio due to this purchase was 0.14%. His holdings were 48,463,044 shares as of 09/30/2011. MBIA Incorporated is engaged in providing financial guaranteeinsurance and investment management and financial services to public finance clients and financial institutions on a global basis. Mbia Inc. has a market cap of $1.54 billion; its shares were traded at around $7.83 with a P/E ratio of 10.7 and P/S ratio of 1.7.

Reduced: The Goldman Sachs Group Inc. (GS)

Bruce Berkowitz reduced to his holdings in The Goldman Sachs Group Inc. by 99.62%. His sale prices were between $93.98 and $137.6, with an estimated average price of $117.77. The impact to his portfolio due to this sale was -6.16%. Bruce Berkowitz still held 23,000 shares as of 09/30/2011. Goldman Sachs is a global investment banking and securities firm, providing a full range of investing, advisory and financing services worldwide to a substantial and diversified client base, which includes corporations, financial institutions, governments, and high net worth individuals. The Goldman Sachs Group Inc. has a market cap of $50.22 billion; its shares were traded at around $99.29 with a P/E ratio of 15.6 and P/S ratio of 1.3. The dividend yield of The Goldman Sachs Group Inc. stocks is 1.4%. The Goldman Sachs Group Inc. had an annual average earnings growth of 9.8% over the past 10 years.

Reduced: Regions Financial Corp. (RF)

Bruce Berkowitz reduced to his holdings in Regions Financial Corp. by 51.11%. His sale prices were between $3.42 and $6.42, with an estimated average price of $4.83. The impact to his portfolio due to this sale was -3.04%. Bruce Berkowitz still held 60,568,917 shares as of 09/30/2011. Regions Financial Corporation is a regional bank holding company and hasbanking-related subsidiaries engaged in mortgage banking, credit life insurance, leasing, and securities brokerage activities with offices in various Southeastern states. Regions Financial Corp. has a market cap of $5.06 billion; its shares were traded at around $4.02 with a P/E ratio of 25.1 and P/S ratio of 0.6. The dividend yield of Regions Financial Corp. stocks is 1%.

Reduced: Berkshire Hathaway B (BRK.B)

Bruce Berkowitz reduced to his holdings in Berkshire Hathaway B by 21.57%. His sale prices were between $66 and $77.77, with an estimated average price of $72.28. The impact to his portfolio due to this sale was -1.22%. Bruce Berkowitz still held 7,394,491 shares as of 09/30/2011. Berkshire Hathaway Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities. Berkshire Hathaway B has a market cap of $187.9 billion; its shares were traded at around $75.86 with a P/E ratio of 12.5 and P/S ratio of 1.4. Berkshire Hathaway B had an annual average earnings growth of 18.2% over the past 10 years.

Reduced: Assured Guaranty Ltd. (AGO)

Bruce Berkowitz reduced to his holdings in Assured Guaranty Ltd. by 96.44%. His sale prices were between $9.93 and $16.86, with an estimated average price of $13.07. The impact to his portfolio due to this sale was -0.18%. Bruce Berkowitz still held 51,700 shares as of 09/30/2011. Assured Guaranty is a Bermuda-based holding company providing credit enhancement products to the municipal finance, structured finance and mortgage markets. Assured Guaranty Ltd. has a market cap of $2.09 billion; its shares were traded at around $11.32 with a P/E ratio of 2.8 and P/S ratio of 1.5. The dividend yield of Assured Guaranty Ltd. stocks is 1.6%.

Reduced: Winthrop Realty Trust (FUR)

Bruce Berkowitz reduced to his holdings in Winthrop Realty Trust by 29.33%. His sale prices were between $8.54 and $12.03, with an estimated average price of $10.18. The impact to his portfolio due to this sale was -0.04%. Bruce Berkowitz still held 946,648 shares as of 09/30/2011. Winthrop Realty Trust is a Boston-based real estate investment trust. Winthrop Realty Trust has a market cap of $298.9 million; its shares were traded at around $9.07 with a P/E ratio of 5.8 and P/S ratio of 5.4. The dividend yield of Winthrop Realty Trust stocks is 7.2%. Winthrop Realty Trust had an annual average earnings growth of 19% over the past 10 years.

About the author:

gurufocus
GuruFocus - Stock Picks and Market Insight of Gurus

Rating: 3.7/5 (15 votes)

Comments

aagold
Aagold premium member - 2 years ago


Hmmm... I'm trying to figure out how the above comment relates to Bruce Berkowitz's portfolio.... it's like an intriguing puzzle - can't wait to find out the answer! :-)
fareastwarriors
Fareastwarriors - 2 years ago


Big Bruce, go big or go home on financials. =)
olingray
Olingray - 2 years ago
Bruce certainly doesn't hurt for confidence! Hope he's right again, cuz I'm a believer.

Please leave your comment:


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