While a lot of value investors got hurt with the recent downturn, Bruce Berkowitz did well by owning energy stocks and not owning financials. Now the "Ignore the Crowd" guru is reducing energy holdings and invest heavily into healthcare stocks. These are his buys and sells during the second quarter.
Bruce Berkowitz buys Pfizer Inc, UnitedHealth Group Inc., Forest Laboratories Inc., Herbalife Ltd., Jefferies Group Inc., MERITOR SAVINGS BANK, sells GlaxoSmithKline plc, Health Net Inc. during the 3-months ended 06/30/2008, according to the most recent filings of his investment company, Fairholme Capital Managment. Bruce Berkowitz owns 41 stocks with a total value of $8.7 billion. These are the details of the buys and sells.
New Purchases: FRX, HLF, JEF, MTOR.PK, PFE, UNH,
Added Positions: ACF, DISH, FUR, LUK, MHK, SATS, SHLD, URI, WCG, WLP, SHLD,
Reduced Positions: BMY, BRK-B, CNQ, JOE, WTM,
Sold Out: GSK, HNT,
For the details of Bruce Berkowitz's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Bruce+Berkowitz
Added: Sears Holdings Corp. (SHLD, Financial)
Bruce Berkowitz added to his holdings in Sears Holdings Corp. by 37.44%. His purchase prices were between $74.75 and $105.61, with an estimated average price of $91.8. The impact to his portfolio due to this purchase was 2.84%. His holdings were 12,368,790 shares as of 06/30/2008.
Sears Holdings Corporation the parent of Kmart and Sears Roebuck and Co. is the leading home appliance retailer in North America and is a retail sales leader in tools lawn and garden home electronics and automotive repair and maintenance. Key proprietary brands include Kenmore Craftsman and DieHard and a broad apparel offering including such well-known labels as Lands' End Jaclyn Smith and Joe Boxer as well as the Apostrophe and Covington brands. Sears Holdings Corp. has a market cap of $12.39 billion; its shares were traded at around $91.8 with a P/E ratio of 23.88 and P/S ratio of 0.24.
Added: United Rentals Inc. (URI, Financial)
Bruce Berkowitz added to his holdings in United Rentals Inc. by 115.68%. His purchase prices were between $18.62 and $21.8, with an estimated average price of $19.9. The impact to his portfolio due to this purchase was 1.16%. His holdings were 9,694,500 shares as of 06/30/2008.
United Rentals Inc. is one of North America's largest equipment rental companies with over branches in the majority of states several Canadian provinces and Mexico. The company offers for rent different types of equipment to customers that include construction and industrial companies manufacturers utilities municipalities homeowners and others. United Rentals Inc. has a market cap of $978.42 million; its shares were traded at around $16.37 with a P/E ratio of 15.83 and P/S ratio of 0.27.
Added: Mohawk Industries Inc. (MHK, Financial)
Bruce Berkowitz added to his holdings in Mohawk Industries Inc. by 16.12%. His purchase prices were between $64.81 and $78.35, with an estimated average price of $73.8. The impact to his portfolio due to this purchase was 0.73%. His holdings were 7,163,821 shares as of 06/30/2008.
Mohawk Industries Inc. is one of the leading producers of woven and tufted broadloom carpet and rugs for principally residential applications.The company designs manufactures and markets carpet and rugs in a broad range of colors textures and patterns. The company is widely recognized through its premier brand names some of which are Mohawk Aladdin American Rug Craftsmen American Weavers Bigelow and Custom Weave. Mohawk Industries Inc. has a market cap of $4.79 billion; its shares were traded at around $66.62 with a P/E ratio of 7.33 and P/S ratio of 0.62.
Added: WellPoint Inc. (WLP, Financial)
Bruce Berkowitz added to his holdings in WellPoint Inc. by 11.69%. His purchase prices were between $46 and $55.82, with an estimated average price of $51. The impact to his portfolio due to this purchase was 0.7%. His holdings were 12,303,400 shares as of 06/30/2008.
WellPoint Inc. is the largest publicly traded commercial health benefits company in terms of membership in the United States. WellPoint Inc. is an independent licensee of the Blue Cross and Blue Shield Association and serves its members as the Blue Cross licensee for California; the Blue Cross and Blue Shield licensee for Colorado Connecticut Georgia Indiana Kentucky Maine Missouri Nevada New Hampshire Ohio Virginia (excluding the Northern Virginia suburbs of Washington D.C.) Wisconsin; and through HealthLink and UniCare. WellPoint Inc. has a market cap of $28.69 billion; its shares were traded at around $55.73 with a P/E ratio of 10.24 and P/S ratio of 0.46.
Added: Leucadia National Corp. (LUK, Financial)
Bruce Berkowitz added to his holdings in Leucadia National Corp. by 10.11%. His purchase prices were between $46.71 and $56.33, with an estimated average price of $51.7. The impact to his portfolio due to this purchase was 0.56%. His holdings were 11,444,993 shares as of 06/30/2008.
LEUCADIA NATL is a diversified financial services holding companyprincipally engaged in personal and commercial lines of property and casualty insurance life insurance banking and lending and manufacturing. The Company concentrates on return on investment and cash flow to build long-term shareholder value rather than emphasizing volume or market share. Additionally the Company continuously evaluates the retention and disposition of its existing operations and investigates possible acquisitions of new businesses in order to maximize shareholder value. Leucadia National Corp. has a market cap of $9.95 billion; its shares were traded at around $43.57 with a P/E ratio of 19.31 and P/S ratio of 8.10. The dividend yield of Leucadia National Corp. stocks is 0.6%.
Added: DISH NETWORK CORPORATION CLASS A COMMON (DISH, Financial)
Bruce Berkowitz added to his holdings in DISH NETWORK CORPORATION CLASS A COMMON by 3.4%. His purchase prices were between $29.26 and $35.13, with an estimated average price of $31.9. The impact to his portfolio due to this purchase was 0.27%. His holdings were 24,915,422 shares as of 06/30/2008.
DISH NETWORK CP offers satellite television products and services. The company operates three business units: The DISH Network - the direct broadcast satellite subscription television service in the United States. EchoStar Technologies Corporation division which is principally responsible for the design of digital set-top boxes or satellite receivers and the sale of set-top boxes to international operators. Satellite Services division provides video audio and data services to business television customers and other satellite users. DISH NETWORK CORPORATION CLASS A COMMON has a market cap of $14.21 billion; its shares were traded at around $30.54 with a P/E ratio of 14.81 and P/S ratio of 1.24.
Added: WellCare Health Plans Inc. (WCG, Financial)
Bruce Berkowitz added to his holdings in WellCare Health Plans Inc. by 7.61%. His purchase prices were between $35.7 and $55.18, with an estimated average price of $45.4. The impact to his portfolio due to this purchase was 0.24%. His holdings were 8,224,500 shares as of 06/30/2008.
WellCare Health Plans Inc. provides managed care services targeted exclusively to government-sponsored healthcare programs focusing on Medicaid and Medicare. WellCare provides high-quality affordable healthcare services to members in Florida New York Connecticut Illinois and Indiana. WellCare Health Plans Inc. has a market cap of $ million; its shares were traded at around $38.19 .
Added: AmeriCredit Corp. (ACF, Financial)
Bruce Berkowitz added to his holdings in AmeriCredit Corp. by 15.57%. His purchase prices were between $9.04 and $14.49, with an estimated average price of $12.2. The impact to his portfolio due to this purchase was 0.2%. His holdings were 14,995,600 shares as of 06/30/2008.
AmeriCredit Corp. is a leading independent automobile finance company that provides financing solutions indirectly through auto dealers and directly to consumers in the United States and Canada. AmeriCredit Corp. has a market cap of $930.46 million; its shares were traded at around $7.76 with P/S ratio of 1.56.
Added: ECHOSTAR CORPORATION (SATS, Financial)
Bruce Berkowitz added to his holdings in ECHOSTAR CORPORATION by 5.92%. His purchase prices were between $28.37 and $38, with an estimated average price of $32.9. The impact to his portfolio due to this purchase was 0.12%. His holdings were 6,132,420 shares as of 06/30/2008.
ECHOSTAR CORP is a publicly traded company. They intend to operate two primary businesses a digital set-top box business and a fixed satellite services business. Their set-top box business designs develops and distributes set-top boxes and related products for direct-to-home satellite service providers. ECHOSTAR CORPORATION has a market cap of $2.82 billion; its shares were traded at around $33.56 with a P/E ratio of 15.86 and P/S ratio of 1.23.
Added: Winthrop Realty Trust (FUR, Financial)
Bruce Berkowitz added to his holdings in Winthrop Realty Trust by 83.86%. His purchase prices were between $3.72 and $4.41, with an estimated average price of $4.2. The impact to his portfolio due to this purchase was 0.08%. His holdings were 4,340,750 shares as of 06/30/2008.
Winthrop Realty Trust is a Boston-based real estate investment trust. Its principal business activity is investing in and making loans secured by real estate assets. Its management team is composed of individuals whose careers have been devoted to value-oriented opportunistic real estate investing. Management seeks to earn high risk-adjusted returns by targeting for acquisition significantly undervalued assets. In many cases these assets are underperforming at the time of acquisition and we perceive that through an infusion of capital and improved management an appropriate return on investment can be realized. Consequently with certain limitations they are willing to invest in most any type of real estate asset or security. Winthrop Realty Trust has a market cap of $292.37 million; its shares were traded at around $4.23 with a P/E ratio of 390.00 and P/S ratio of 4.35. The dividend yield of Winthrop Realty Trust stocks is 6.5%.
New Purchase: Pfizer Inc (PFE, Financial)
Bruce Berkowitz initiated holdings in Pfizer Inc. His purchase prices were between $17 and $20.67, with an estimated average price of $19. The impact to his portfolio due to this purchase was 14.73%. His holdings were 73,742,200 shares as of 06/30/2008.
Pfizer Inc is a research-based global pharmaceutical company that discovers and develops innovative value-added products that improve the quality of life of people around the world and help them enjoy longer healthier and more productive lives. Pfizer has three business segments: health care animal health and consumer health care. Its products are available in numerous countries. (Company Press Release) Pfizer Inc has a market cap of $133.34 billion; its shares were traded at around $19.64 with a P/E ratio of 14.87 and P/S ratio of 2.71. The dividend yield of Pfizer Inc stocks is 6.8%.
New Purchase: UnitedHealth Group Inc. (UNH, Financial)
Bruce Berkowitz initiated holdings in UnitedHealth Group Inc.. His purchase prices were between $26.01 and $37.25, with an estimated average price of $32.9. The impact to his portfolio due to this purchase was 5.07%. His holdings were 16,899,500 shares as of 06/30/2008.
UnitedHealth Group Inc. offers health care coverage and related services to help people achieve improved health and well-being through all stages of life. The company's products and services reflect a number of core capabilities including medical information management health benefit administration care coordination risk assessment and pricing health benefit design and provider contracting. With these capabilities it is able to provide comprehensive health care management services through organized health systems and insurance products. UnitedHealth Group Inc. has a market cap of $38.83 billion; its shares were traded at around $31.61 with a P/E ratio of 10.80 and P/S ratio of 0.49. The dividend yield of UnitedHealth Group Inc. stocks is 0.1%.
New Purchase: Forest Laboratories Inc. (FRX)
Bruce Berkowitz initiated holdings in Forest Laboratories Inc.. His purchase prices were between $31.95 and $40.87, with an estimated average price of $35.2. The impact to his portfolio due to this purchase was 4.87%. His holdings were 12,270,000 shares as of 06/30/2008.
Forest Laboratories Inc. and its subsidiaries develop manufacture and sell both branded and generic forms of ethical drug products which require a physician's prescription as well as non-prescription pharmaceuticalproducts sold over-the-counter. Forest's most important United Statesproducts consist of branded ethical drug specialties marketed directly or to physicians by the company's Forest Pharmaceuticals Forest Therapeutics and Forest Specialty Sales salesforces. Forest Laboratories Inc. has a market cap of $11.51 billion; its shares were traded at around $37.71 with a P/E ratio of 12.53 and P/S ratio of 3.05.
New Purchase: Herbalife Ltd. (HLF)
Bruce Berkowitz initiated holdings in Herbalife Ltd.. His purchase prices were between $36.6 and $49.74, with an estimated average price of $41.6. The impact to his portfolio due to this purchase was 0.47%. His holdings were 1,070,000 shares as of 06/30/2008.
Herbalife is a global network marketing company offering a range of science-based weight management products nutritional supplements and personal care products intended to support weight loss and a healthy lifestyle. Herbalife Ltd. has a market cap of $2.95 billion; its shares were traded at around $46.42 with a P/E ratio of 13.77 and P/S ratio of 1.26. The dividend yield of Herbalife Ltd. stocks is 1.9%.
New Purchase: Jefferies Group Inc. (JEF)
Bruce Berkowitz initiated holdings in Jefferies Group Inc.. His purchase prices were between $14.39 and $19.93, with an estimated average price of $17.5. The impact to his portfolio due to this purchase was 0.38%. His holdings were 1,978,565 shares as of 06/30/2008.
Jefferies Group Inc. is a holding company whose affiliated companies including its principal operating subsidiary Jefferies & Company Inc. offer a variety of services for institutional investors and middle-market companies. Subsidiaries of Jefferies Group Inc. together comprise a full-service investment bank and institutional securities firm focused on the middle market. Jefferies offers financial advisory capital raising mergers and acquisitions and restructuring services to small and mid-cap companies. Jefferies Group Inc. has a market cap of $3.04 billion; its shares were traded at around $19.09 with P/S ratio of 2.42. The dividend yield of Jefferies Group Inc. stocks is 2.7%.
New Purchase: MERITOR SAVINGS BANK (MTOR.PK)
Bruce Berkowitz initiated holdings in MERITOR SAVINGS BANK. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 43,645 shares as of 06/30/2008.
MERITOR SAVINGS BANK shares were traded at around $4.6 .
Reduced: BristolMyers Squibb Company (BMY)
Bruce Berkowitz reduced to his holdings in BristolMyers Squibb Company by 99.35%. His sale prices were between $19.28 and $23, with an estimated average price of $21.3. The impact to his portfolio due to this sale was -0.01%. Bruce Berkowitz still held 56,500 shares as of 06/30/2008.
Bristol-Myers Squibb Company is a global leader in the research and development of innovative lifesaving and life-enhancing treatments for heart disease; high blood pressure; stroke; diabetes; cancer; HIV/AIDS and other infectious diseases; depression schizophrenia and other mental disorders; pain; and other conditions. BristolMyers Squibb Company has a market cap of $43.19 billion; its shares were traded at around $21.98 with a P/E ratio of 19.82 and P/S ratio of 2.08. The dividend yield of BristolMyers Squibb Company stocks is 5.6%.
Reduced: White Mountains Insurance Group Ltd. (WTM)
Bruce Berkowitz reduced to his holdings in White Mountains Insurance Group Ltd. by 65.89%. His sale prices were between $434.8 and $482.83, with an estimated average price of $462.3. The impact to his portfolio due to this sale was -0.03%. Bruce Berkowitz still held 7,274 shares as of 06/30/2008.
White Mountains Insurance Group Ltd. is engaged in the business of property and casualty insurance and reinsurance. White Mountains Insurance Group Ltd. has a market cap of $4.66 billion; its shares were traded at around $426.01 with a P/E ratio of 32.12 and P/S ratio of 1.04. The dividend yield of White Mountains Insurance Group Ltd. stocks is 1.9%.
Reduced: Berkshire Hathaway Inc. (BRK-B)
Bruce Berkowitz reduced to his holdings in Berkshire Hathaway Inc. by 20.16%. His sale prices were between $4017 and $4498, with an estimated average price of $4252.1. The impact to his portfolio due to this sale was -0.15%. Bruce Berkowitz still held 15,643 shares as of 06/30/2008.
Berkshire Hathaway Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities. The most important of these is the property and casualty insurance business conducted nationwide on a direct basis and worldwide on a reinsurance basis through a number of subsidiaries collectively referred to as the Berkshire Hathaway Insurance Group. Berkshire Hathaway Inc. has a market cap of $ million; its shares were traded at around $3805 .
Reduced: The St. Joe Company (JOE)
Bruce Berkowitz reduced to his holdings in The St. Joe Company by 26.28%. His sale prices were between $34.22 and $42.97, with an estimated average price of $38.7. The impact to his portfolio due to this sale was -0.98%. Bruce Berkowitz still held 9,492,300 shares as of 06/30/2008.
St. Joe Company is one of the Southeast's largest real estate operating companies. St. Joe provides a broad range of real estate services to meet both residential and commercial real estate needs. The company is one of the few real estate operating companies to have assembled the range of real estate financial marketing and regulatory expertise to take a large-scale approach to real estate development and services. The St. Joe Company has a market cap of $3.52 billion; its shares were traded at around $36.35 with a P/E ratio of 561.62 and P/S ratio of 9.43. The dividend yield of The St. Joe Company stocks is 1.9%.
Reduced: Canadian Natural Resources Ltd. (CNQ)
Bruce Berkowitz reduced to his holdings in Canadian Natural Resources Ltd. by 68.62%. His sale prices were between $71.57 and $103.69, with an estimated average price of $92.5. The impact to his portfolio due to this sale was -3.75%. Bruce Berkowitz still held 4,774,323 shares as of 06/30/2008.
Canadian Natural Resources Limited is a senior independent oil and natural gas exploration development and production company based in Calgary Alberta. The Company's operations are focused in Western Canada the North Sea and Offshore West Africa. Canadian Natural Resources Ltd. has a market cap of $42.09 billion; its shares were traded at around $79.17 with a P/E ratio of 23.77 and P/S ratio of 3.36. The dividend yield of Canadian Natural Resources Ltd. stocks is 0.5%.
Sold Out: GlaxoSmithKline plc (GSK)
Bruce Berkowitz sold out his holdings in GlaxoSmithKline plc. His sale prices were between $41.57 and $44.86, with an estimated average price of $43.3. The impact to his portfolio due to this sale was less than 0.01%.
GlaxoSmithKline is one of the world's leading research based pharmaceutical and healthcare companies and is committed to improving the quality of human life by enabling people to do more feel better and live longer. They also have leadership in four major therapeutic areas: anti-infectives central nervous system (CNS) respiratory and gastro-intestinal/metabolic. GlaxoSmithKline plc has a market cap of $123.2 billion; its shares were traded at around $47.8 with a P/E ratio of 13.69 and P/S ratio of 2.82. The dividend yield of GlaxoSmithKline plc stocks is 4.4%.
Sold Out: Health Net Inc. (HNT)
Bruce Berkowitz sold out his holdings in Health Net Inc.. His sale prices were between $24.8 and $31, with an estimated average price of $28.7. The impact to his portfolio due to this sale was less than 0.01%.
Health Net Inc. is an integrated managed care organization which administers the delivery of managed health care services. The company's health maintenance organizations insured preferred provider organizations and government contracts subsidiaries provide health benefits to individuals through group individual Medicare risk Medicaid and TRICARE programs. Health Net Inc. has a market cap of $3 billion; its shares were traded at around $27.93 with a P/E ratio of 57.27 and P/S ratio of 0.20.
Bruce Berkowitz buys Pfizer Inc, UnitedHealth Group Inc., Forest Laboratories Inc., Herbalife Ltd., Jefferies Group Inc., MERITOR SAVINGS BANK, sells GlaxoSmithKline plc, Health Net Inc. during the 3-months ended 06/30/2008, according to the most recent filings of his investment company, Fairholme Capital Managment. Bruce Berkowitz owns 41 stocks with a total value of $8.7 billion. These are the details of the buys and sells.
New Purchases: FRX, HLF, JEF, MTOR.PK, PFE, UNH,
Added Positions: ACF, DISH, FUR, LUK, MHK, SATS, SHLD, URI, WCG, WLP, SHLD,
Reduced Positions: BMY, BRK-B, CNQ, JOE, WTM,
Sold Out: GSK, HNT,
For the details of Bruce Berkowitz's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Bruce+Berkowitz
Added: Sears Holdings Corp. (SHLD, Financial)
Bruce Berkowitz added to his holdings in Sears Holdings Corp. by 37.44%. His purchase prices were between $74.75 and $105.61, with an estimated average price of $91.8. The impact to his portfolio due to this purchase was 2.84%. His holdings were 12,368,790 shares as of 06/30/2008.
Sears Holdings Corporation the parent of Kmart and Sears Roebuck and Co. is the leading home appliance retailer in North America and is a retail sales leader in tools lawn and garden home electronics and automotive repair and maintenance. Key proprietary brands include Kenmore Craftsman and DieHard and a broad apparel offering including such well-known labels as Lands' End Jaclyn Smith and Joe Boxer as well as the Apostrophe and Covington brands. Sears Holdings Corp. has a market cap of $12.39 billion; its shares were traded at around $91.8 with a P/E ratio of 23.88 and P/S ratio of 0.24.
Added: United Rentals Inc. (URI, Financial)
Bruce Berkowitz added to his holdings in United Rentals Inc. by 115.68%. His purchase prices were between $18.62 and $21.8, with an estimated average price of $19.9. The impact to his portfolio due to this purchase was 1.16%. His holdings were 9,694,500 shares as of 06/30/2008.
United Rentals Inc. is one of North America's largest equipment rental companies with over branches in the majority of states several Canadian provinces and Mexico. The company offers for rent different types of equipment to customers that include construction and industrial companies manufacturers utilities municipalities homeowners and others. United Rentals Inc. has a market cap of $978.42 million; its shares were traded at around $16.37 with a P/E ratio of 15.83 and P/S ratio of 0.27.
Added: Mohawk Industries Inc. (MHK, Financial)
Bruce Berkowitz added to his holdings in Mohawk Industries Inc. by 16.12%. His purchase prices were between $64.81 and $78.35, with an estimated average price of $73.8. The impact to his portfolio due to this purchase was 0.73%. His holdings were 7,163,821 shares as of 06/30/2008.
Mohawk Industries Inc. is one of the leading producers of woven and tufted broadloom carpet and rugs for principally residential applications.The company designs manufactures and markets carpet and rugs in a broad range of colors textures and patterns. The company is widely recognized through its premier brand names some of which are Mohawk Aladdin American Rug Craftsmen American Weavers Bigelow and Custom Weave. Mohawk Industries Inc. has a market cap of $4.79 billion; its shares were traded at around $66.62 with a P/E ratio of 7.33 and P/S ratio of 0.62.
Added: WellPoint Inc. (WLP, Financial)
Bruce Berkowitz added to his holdings in WellPoint Inc. by 11.69%. His purchase prices were between $46 and $55.82, with an estimated average price of $51. The impact to his portfolio due to this purchase was 0.7%. His holdings were 12,303,400 shares as of 06/30/2008.
WellPoint Inc. is the largest publicly traded commercial health benefits company in terms of membership in the United States. WellPoint Inc. is an independent licensee of the Blue Cross and Blue Shield Association and serves its members as the Blue Cross licensee for California; the Blue Cross and Blue Shield licensee for Colorado Connecticut Georgia Indiana Kentucky Maine Missouri Nevada New Hampshire Ohio Virginia (excluding the Northern Virginia suburbs of Washington D.C.) Wisconsin; and through HealthLink and UniCare. WellPoint Inc. has a market cap of $28.69 billion; its shares were traded at around $55.73 with a P/E ratio of 10.24 and P/S ratio of 0.46.
Added: Leucadia National Corp. (LUK, Financial)
Bruce Berkowitz added to his holdings in Leucadia National Corp. by 10.11%. His purchase prices were between $46.71 and $56.33, with an estimated average price of $51.7. The impact to his portfolio due to this purchase was 0.56%. His holdings were 11,444,993 shares as of 06/30/2008.
LEUCADIA NATL is a diversified financial services holding companyprincipally engaged in personal and commercial lines of property and casualty insurance life insurance banking and lending and manufacturing. The Company concentrates on return on investment and cash flow to build long-term shareholder value rather than emphasizing volume or market share. Additionally the Company continuously evaluates the retention and disposition of its existing operations and investigates possible acquisitions of new businesses in order to maximize shareholder value. Leucadia National Corp. has a market cap of $9.95 billion; its shares were traded at around $43.57 with a P/E ratio of 19.31 and P/S ratio of 8.10. The dividend yield of Leucadia National Corp. stocks is 0.6%.
Added: DISH NETWORK CORPORATION CLASS A COMMON (DISH, Financial)
Bruce Berkowitz added to his holdings in DISH NETWORK CORPORATION CLASS A COMMON by 3.4%. His purchase prices were between $29.26 and $35.13, with an estimated average price of $31.9. The impact to his portfolio due to this purchase was 0.27%. His holdings were 24,915,422 shares as of 06/30/2008.
DISH NETWORK CP offers satellite television products and services. The company operates three business units: The DISH Network - the direct broadcast satellite subscription television service in the United States. EchoStar Technologies Corporation division which is principally responsible for the design of digital set-top boxes or satellite receivers and the sale of set-top boxes to international operators. Satellite Services division provides video audio and data services to business television customers and other satellite users. DISH NETWORK CORPORATION CLASS A COMMON has a market cap of $14.21 billion; its shares were traded at around $30.54 with a P/E ratio of 14.81 and P/S ratio of 1.24.
Added: WellCare Health Plans Inc. (WCG, Financial)
Bruce Berkowitz added to his holdings in WellCare Health Plans Inc. by 7.61%. His purchase prices were between $35.7 and $55.18, with an estimated average price of $45.4. The impact to his portfolio due to this purchase was 0.24%. His holdings were 8,224,500 shares as of 06/30/2008.
WellCare Health Plans Inc. provides managed care services targeted exclusively to government-sponsored healthcare programs focusing on Medicaid and Medicare. WellCare provides high-quality affordable healthcare services to members in Florida New York Connecticut Illinois and Indiana. WellCare Health Plans Inc. has a market cap of $ million; its shares were traded at around $38.19 .
Added: AmeriCredit Corp. (ACF, Financial)
Bruce Berkowitz added to his holdings in AmeriCredit Corp. by 15.57%. His purchase prices were between $9.04 and $14.49, with an estimated average price of $12.2. The impact to his portfolio due to this purchase was 0.2%. His holdings were 14,995,600 shares as of 06/30/2008.
AmeriCredit Corp. is a leading independent automobile finance company that provides financing solutions indirectly through auto dealers and directly to consumers in the United States and Canada. AmeriCredit Corp. has a market cap of $930.46 million; its shares were traded at around $7.76 with P/S ratio of 1.56.
Added: ECHOSTAR CORPORATION (SATS, Financial)
Bruce Berkowitz added to his holdings in ECHOSTAR CORPORATION by 5.92%. His purchase prices were between $28.37 and $38, with an estimated average price of $32.9. The impact to his portfolio due to this purchase was 0.12%. His holdings were 6,132,420 shares as of 06/30/2008.
ECHOSTAR CORP is a publicly traded company. They intend to operate two primary businesses a digital set-top box business and a fixed satellite services business. Their set-top box business designs develops and distributes set-top boxes and related products for direct-to-home satellite service providers. ECHOSTAR CORPORATION has a market cap of $2.82 billion; its shares were traded at around $33.56 with a P/E ratio of 15.86 and P/S ratio of 1.23.
Added: Winthrop Realty Trust (FUR, Financial)
Bruce Berkowitz added to his holdings in Winthrop Realty Trust by 83.86%. His purchase prices were between $3.72 and $4.41, with an estimated average price of $4.2. The impact to his portfolio due to this purchase was 0.08%. His holdings were 4,340,750 shares as of 06/30/2008.
Winthrop Realty Trust is a Boston-based real estate investment trust. Its principal business activity is investing in and making loans secured by real estate assets. Its management team is composed of individuals whose careers have been devoted to value-oriented opportunistic real estate investing. Management seeks to earn high risk-adjusted returns by targeting for acquisition significantly undervalued assets. In many cases these assets are underperforming at the time of acquisition and we perceive that through an infusion of capital and improved management an appropriate return on investment can be realized. Consequently with certain limitations they are willing to invest in most any type of real estate asset or security. Winthrop Realty Trust has a market cap of $292.37 million; its shares were traded at around $4.23 with a P/E ratio of 390.00 and P/S ratio of 4.35. The dividend yield of Winthrop Realty Trust stocks is 6.5%.
New Purchase: Pfizer Inc (PFE, Financial)
Bruce Berkowitz initiated holdings in Pfizer Inc. His purchase prices were between $17 and $20.67, with an estimated average price of $19. The impact to his portfolio due to this purchase was 14.73%. His holdings were 73,742,200 shares as of 06/30/2008.
Pfizer Inc is a research-based global pharmaceutical company that discovers and develops innovative value-added products that improve the quality of life of people around the world and help them enjoy longer healthier and more productive lives. Pfizer has three business segments: health care animal health and consumer health care. Its products are available in numerous countries. (Company Press Release) Pfizer Inc has a market cap of $133.34 billion; its shares were traded at around $19.64 with a P/E ratio of 14.87 and P/S ratio of 2.71. The dividend yield of Pfizer Inc stocks is 6.8%.
New Purchase: UnitedHealth Group Inc. (UNH, Financial)
Bruce Berkowitz initiated holdings in UnitedHealth Group Inc.. His purchase prices were between $26.01 and $37.25, with an estimated average price of $32.9. The impact to his portfolio due to this purchase was 5.07%. His holdings were 16,899,500 shares as of 06/30/2008.
UnitedHealth Group Inc. offers health care coverage and related services to help people achieve improved health and well-being through all stages of life. The company's products and services reflect a number of core capabilities including medical information management health benefit administration care coordination risk assessment and pricing health benefit design and provider contracting. With these capabilities it is able to provide comprehensive health care management services through organized health systems and insurance products. UnitedHealth Group Inc. has a market cap of $38.83 billion; its shares were traded at around $31.61 with a P/E ratio of 10.80 and P/S ratio of 0.49. The dividend yield of UnitedHealth Group Inc. stocks is 0.1%.
New Purchase: Forest Laboratories Inc. (FRX)
Bruce Berkowitz initiated holdings in Forest Laboratories Inc.. His purchase prices were between $31.95 and $40.87, with an estimated average price of $35.2. The impact to his portfolio due to this purchase was 4.87%. His holdings were 12,270,000 shares as of 06/30/2008.
Forest Laboratories Inc. and its subsidiaries develop manufacture and sell both branded and generic forms of ethical drug products which require a physician's prescription as well as non-prescription pharmaceuticalproducts sold over-the-counter. Forest's most important United Statesproducts consist of branded ethical drug specialties marketed directly or to physicians by the company's Forest Pharmaceuticals Forest Therapeutics and Forest Specialty Sales salesforces. Forest Laboratories Inc. has a market cap of $11.51 billion; its shares were traded at around $37.71 with a P/E ratio of 12.53 and P/S ratio of 3.05.
New Purchase: Herbalife Ltd. (HLF)
Bruce Berkowitz initiated holdings in Herbalife Ltd.. His purchase prices were between $36.6 and $49.74, with an estimated average price of $41.6. The impact to his portfolio due to this purchase was 0.47%. His holdings were 1,070,000 shares as of 06/30/2008.
Herbalife is a global network marketing company offering a range of science-based weight management products nutritional supplements and personal care products intended to support weight loss and a healthy lifestyle. Herbalife Ltd. has a market cap of $2.95 billion; its shares were traded at around $46.42 with a P/E ratio of 13.77 and P/S ratio of 1.26. The dividend yield of Herbalife Ltd. stocks is 1.9%.
New Purchase: Jefferies Group Inc. (JEF)
Bruce Berkowitz initiated holdings in Jefferies Group Inc.. His purchase prices were between $14.39 and $19.93, with an estimated average price of $17.5. The impact to his portfolio due to this purchase was 0.38%. His holdings were 1,978,565 shares as of 06/30/2008.
Jefferies Group Inc. is a holding company whose affiliated companies including its principal operating subsidiary Jefferies & Company Inc. offer a variety of services for institutional investors and middle-market companies. Subsidiaries of Jefferies Group Inc. together comprise a full-service investment bank and institutional securities firm focused on the middle market. Jefferies offers financial advisory capital raising mergers and acquisitions and restructuring services to small and mid-cap companies. Jefferies Group Inc. has a market cap of $3.04 billion; its shares were traded at around $19.09 with P/S ratio of 2.42. The dividend yield of Jefferies Group Inc. stocks is 2.7%.
New Purchase: MERITOR SAVINGS BANK (MTOR.PK)
Bruce Berkowitz initiated holdings in MERITOR SAVINGS BANK. The impact to his portfolio due to this purchase was less than 0.01%. His holdings were 43,645 shares as of 06/30/2008.
MERITOR SAVINGS BANK shares were traded at around $4.6 .
Reduced: BristolMyers Squibb Company (BMY)
Bruce Berkowitz reduced to his holdings in BristolMyers Squibb Company by 99.35%. His sale prices were between $19.28 and $23, with an estimated average price of $21.3. The impact to his portfolio due to this sale was -0.01%. Bruce Berkowitz still held 56,500 shares as of 06/30/2008.
Bristol-Myers Squibb Company is a global leader in the research and development of innovative lifesaving and life-enhancing treatments for heart disease; high blood pressure; stroke; diabetes; cancer; HIV/AIDS and other infectious diseases; depression schizophrenia and other mental disorders; pain; and other conditions. BristolMyers Squibb Company has a market cap of $43.19 billion; its shares were traded at around $21.98 with a P/E ratio of 19.82 and P/S ratio of 2.08. The dividend yield of BristolMyers Squibb Company stocks is 5.6%.
Reduced: White Mountains Insurance Group Ltd. (WTM)
Bruce Berkowitz reduced to his holdings in White Mountains Insurance Group Ltd. by 65.89%. His sale prices were between $434.8 and $482.83, with an estimated average price of $462.3. The impact to his portfolio due to this sale was -0.03%. Bruce Berkowitz still held 7,274 shares as of 06/30/2008.
White Mountains Insurance Group Ltd. is engaged in the business of property and casualty insurance and reinsurance. White Mountains Insurance Group Ltd. has a market cap of $4.66 billion; its shares were traded at around $426.01 with a P/E ratio of 32.12 and P/S ratio of 1.04. The dividend yield of White Mountains Insurance Group Ltd. stocks is 1.9%.
Reduced: Berkshire Hathaway Inc. (BRK-B)
Bruce Berkowitz reduced to his holdings in Berkshire Hathaway Inc. by 20.16%. His sale prices were between $4017 and $4498, with an estimated average price of $4252.1. The impact to his portfolio due to this sale was -0.15%. Bruce Berkowitz still held 15,643 shares as of 06/30/2008.
Berkshire Hathaway Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities. The most important of these is the property and casualty insurance business conducted nationwide on a direct basis and worldwide on a reinsurance basis through a number of subsidiaries collectively referred to as the Berkshire Hathaway Insurance Group. Berkshire Hathaway Inc. has a market cap of $ million; its shares were traded at around $3805 .
Reduced: The St. Joe Company (JOE)
Bruce Berkowitz reduced to his holdings in The St. Joe Company by 26.28%. His sale prices were between $34.22 and $42.97, with an estimated average price of $38.7. The impact to his portfolio due to this sale was -0.98%. Bruce Berkowitz still held 9,492,300 shares as of 06/30/2008.
St. Joe Company is one of the Southeast's largest real estate operating companies. St. Joe provides a broad range of real estate services to meet both residential and commercial real estate needs. The company is one of the few real estate operating companies to have assembled the range of real estate financial marketing and regulatory expertise to take a large-scale approach to real estate development and services. The St. Joe Company has a market cap of $3.52 billion; its shares were traded at around $36.35 with a P/E ratio of 561.62 and P/S ratio of 9.43. The dividend yield of The St. Joe Company stocks is 1.9%.
Reduced: Canadian Natural Resources Ltd. (CNQ)
Bruce Berkowitz reduced to his holdings in Canadian Natural Resources Ltd. by 68.62%. His sale prices were between $71.57 and $103.69, with an estimated average price of $92.5. The impact to his portfolio due to this sale was -3.75%. Bruce Berkowitz still held 4,774,323 shares as of 06/30/2008.
Canadian Natural Resources Limited is a senior independent oil and natural gas exploration development and production company based in Calgary Alberta. The Company's operations are focused in Western Canada the North Sea and Offshore West Africa. Canadian Natural Resources Ltd. has a market cap of $42.09 billion; its shares were traded at around $79.17 with a P/E ratio of 23.77 and P/S ratio of 3.36. The dividend yield of Canadian Natural Resources Ltd. stocks is 0.5%.
Sold Out: GlaxoSmithKline plc (GSK)
Bruce Berkowitz sold out his holdings in GlaxoSmithKline plc. His sale prices were between $41.57 and $44.86, with an estimated average price of $43.3. The impact to his portfolio due to this sale was less than 0.01%.
GlaxoSmithKline is one of the world's leading research based pharmaceutical and healthcare companies and is committed to improving the quality of human life by enabling people to do more feel better and live longer. They also have leadership in four major therapeutic areas: anti-infectives central nervous system (CNS) respiratory and gastro-intestinal/metabolic. GlaxoSmithKline plc has a market cap of $123.2 billion; its shares were traded at around $47.8 with a P/E ratio of 13.69 and P/S ratio of 2.82. The dividend yield of GlaxoSmithKline plc stocks is 4.4%.
Sold Out: Health Net Inc. (HNT)
Bruce Berkowitz sold out his holdings in Health Net Inc.. His sale prices were between $24.8 and $31, with an estimated average price of $28.7. The impact to his portfolio due to this sale was less than 0.01%.
Health Net Inc. is an integrated managed care organization which administers the delivery of managed health care services. The company's health maintenance organizations insured preferred provider organizations and government contracts subsidiaries provide health benefits to individuals through group individual Medicare risk Medicaid and TRICARE programs. Health Net Inc. has a market cap of $3 billion; its shares were traded at around $27.93 with a P/E ratio of 57.27 and P/S ratio of 0.20.
