In order to track Bruce Berkowitz more closely, we start to track Bruce Berkowitz’s flagship fund, Fairholme Fund. For the 10-year period since inception in 1999, the fund gained 253% while the S&P is still in red. Bruce Berkowitz has been named GuruFocus Investment Guru of the Year 2009, and Morningstar Manager of the Decade.
Fairholme Fund has a fiscal year end of Nov. 30. By tracking his fund, we will be able to track him more closely. The buys and sells in this report is for the quarter ended on Nov. 30, 2009.
Bruce Berkowitz is never shy from borrowing ideas from other best investors, he bought into Burlington Northern Santa Fe Corp., Citigroup Inc., RSC Holdings Inc., Winthrop Realty Trust.
The idea of buying Burlington Northern Santa Fe Corp. may come from his idol Warren Buffett, beside holding a lot of Berkshire shares in his fund. What about Citigroup? From John Paulson, or David Tepper?
He sold a lot of Pfeizer, sold out Unitedhealth Group Inc., Northrop Grumman Corp., The Boeing Company during the 3-months ended 11/30/2009, according to the most recent filings of his Fund . These are the details of the buys and sells.
These are the top 5 holdings of Fairholme Fund
Berkshire Hathaway Inc. has a market cap of $56.69 billion; its shares were traded at around $76.43 with and P/S ratio of 0.5. Berkshire Hathaway Inc. had an annual average earning growth of 1.7% over the past 10 years. GuruFocus rated Berkshire Hathaway Inc. the business predictability rank of 3-star.
WellPoint, Inc. is the largest publicly traded commercial health benefits company in terms of membership in the United States. It has a market cap of $29.21 billion; its shares were traded at around $63.72 with a P/E ratio of 10.3 and P/S ratio of 0.5. Wellpoint Inc. had an annual average earning growth of 20.8% over the past 5 years.
Humana, Inc. is a health services company that facilitates the delivery of health care services through networks of providers to its medical members. Humana Inc. has a market cap of $8.26 billion; its shares were traded at around $48.62 with a P/E ratio of 8.5 and P/S ratio of 0.3. Humana Inc. had an annual average earning growth of 18.7% over the past 10 years. GuruFocus rated Humana Inc. the business predictability rank of 3-star.
HERTZ GLOBAL HOLDING is the worlds largest general use car rental brand, operating from approximately 8,100 locations in 147 countries worldwide. Hertz Global Holdings Inc. has a market cap of $4.24 billion; its shares were traded at around $10.36 with and P/S ratio of 0.5.
SPIRIT AEROSYSTEMS is the world's largest independent supplier of commercial airplane assemblies and components. It has a market cap of $3.03 billion; its shares were traded at around $21.45 with a P/E ratio of 11.7 and P/S ratio of 0.8.
St. Joe Company is one of the Southeast's largest real estate operating companies. It has a market cap of $2.4 billion; its shares were traded at around $26 with and P/S ratio of 9.1. The St. Joe Company had an annual average earning growth of 5.4% over the past 10 years.
Burlington North/Santa Fe will be bought by Berkshire Hathaway for $100 a share.
Citigroup Inc. has a market cap of $75.91 billion; its shares were traded at around $3.32 with and P/S ratio of 0.8. Citigroup Inc. had an annual average earning growth of 5.1% over the past 10 years.
RSC HOLDINGS is one of the largest equipment rental providers in North America. Rsc Holdings Inc. has a market cap of $742.6 million; its shares were traded at around $7.18 with and P/S ratio of 0.4.
Winthrop Realty Trust is a Boston-based real estate investment trust. It has a market cap of $253.7 million; its shares were traded at around $12.45 with a P/E ratio of 7.9 and P/S ratio of 5.6. The dividend yield of Winthrop Realty Trust stocks is 5.2%.
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. It has a market cap of $481.9 million; its shares were traded at around $8.01 with a P/E ratio of 57.2 and P/S ratio of 0.2. United Rentals Inc. had an annual average earning growth of 4.9% over the past 10 years. GuruFocus rated United Rentals Inc. the business predictability rank of 2-star.
Pfizer Inc has a market cap of $150.58 billion; its shares were traded at around $18.66 with a P/E ratio of 8.5 and P/S ratio of 3.1. The dividend yield of Pfizer Inc stocks is 3.5%. Pfizer Inc had an annual average earning growth of 11% over the past 10 years.
Northrop Grumman Corporation is a high technology company providing innovative solutions in systems integration, defense electronics and information technology for its U.S. and international military, government and commercial customers, as a prime contractor, principal subcontractor, team member or preferred supplier. Northrop Grumman Corp. has a market cap of $17.76 billion; its shares were traded at around $56.6 with a P/E ratio of 10.4 and P/S ratio of 0.5. The dividend yield of Northrop Grumman Corp. stocks is 3.1%. Northrop Grumman Corp. had an annual average earning growth of 1.3% over the past 10 years.
The Boeing Company is one of the world's major aerospace firms. The company operates in three principal segments: commercial airplanes; military aircraft and missiles; and space and communications. The Boeing Company has a market cap of $44.03 billion; its shares were traded at around $60.6 with a P/E ratio of 89.1 and P/S ratio of 0.8. The dividend yield of The Boeing Company stocks is 2.8%. The Boeing Company had an annual average earning growth of 10.9% over the past 10 years. GuruFocus rated The Boeing Company the business predictability rank of 2.5-star.
Unitedhealth Group Inc. has a market cap of $38.35 billion; its shares were traded at around $33 with a P/E ratio of 10.2 and P/S ratio of 0.4. The dividend yield of Unitedhealth Group Inc. stocks is 0.1%. Unitedhealth Group Inc. had an annual average earning growth of 30.4% over the past 10 years. GuruFocus rated Unitedhealth Group Inc. the business predictability rank of 4-star.
Fairholme Fund has a fiscal year end of Nov. 30. By tracking his fund, we will be able to track him more closely. The buys and sells in this report is for the quarter ended on Nov. 30, 2009.
Bruce Berkowitz is never shy from borrowing ideas from other best investors, he bought into Burlington Northern Santa Fe Corp., Citigroup Inc., RSC Holdings Inc., Winthrop Realty Trust.
The idea of buying Burlington Northern Santa Fe Corp. may come from his idol Warren Buffett, beside holding a lot of Berkshire shares in his fund. What about Citigroup? From John Paulson, or David Tepper?
He sold a lot of Pfeizer, sold out Unitedhealth Group Inc., Northrop Grumman Corp., The Boeing Company during the 3-months ended 11/30/2009, according to the most recent filings of his Fund . These are the details of the buys and sells.
- New Purchases: BNI, C, FUR, RRR,
- Added Positions: BRK-A, BRK-B, HTZ, HUM, JOE, SPR, WLP,
- Reduced Positions: PFE, URI,
- Sold Out: BA, NOC, UNH,
These are the top 5 holdings of Fairholme Fund
- Sears Holdings Corp. (SHLD) - 13,587,371 shares, 12.52% of the total portfolio
- Berkshire Hathaway Inc. (BRK-B) - 10,052,650 shares, 8.75% of the total portfolio
- AmeriCredit Corp. (ACF) - 31,814,670 shares, 7.62% of the total portfolio
- The St. Joe Company (JOE) - 23,036,502 shares, 7.45% of the total portfolio
- Humana Inc. (HUM) - 13,621,400 shares, 7.34% of the total portfolio
Added: Berkshire Hathaway Inc. (BRK-B)
Fairholme Fund added to his holdings in Berkshire Hathaway Inc. by 62.82%. His purchase prices were between $159504 and $172600, with an estimated average price of $166350. The impact to his portfolio due to this purchase was 3.38%. His holdings were 10,052,650 shares as of 11/30/2009.Berkshire Hathaway Inc. has a market cap of $56.69 billion; its shares were traded at around $76.43 with and P/S ratio of 0.5. Berkshire Hathaway Inc. had an annual average earning growth of 1.7% over the past 10 years. GuruFocus rated Berkshire Hathaway Inc. the business predictability rank of 3-star.
Added: Wellpoint Inc. (WLP, Financial)
Fairholme Fund added to his holdings in Wellpoint Inc. by 82.27%. His purchase prices were between $44.72 and $55.16, with an estimated average price of $50.43. The impact to his portfolio due to this purchase was 3.11%. His holdings were 9,805,600 shares as of 11/30/2009.WellPoint, Inc. is the largest publicly traded commercial health benefits company in terms of membership in the United States. It has a market cap of $29.21 billion; its shares were traded at around $63.72 with a P/E ratio of 10.3 and P/S ratio of 0.5. Wellpoint Inc. had an annual average earning growth of 20.8% over the past 5 years.
Added: Berkshire Hathaway Inc. (BRK-A)
Fairholme Fund added to his holdings in Berkshire Hathaway Inc. by 130.31%. His purchase prices were between $97560 and $103895, with an estimated average price of $100783. The impact to his portfolio due to this purchase was 2.89%. His holdings were 3,913 shares as of 11/30/2009.Added: Humana Inc. (HUM, Financial)
Fairholme Fund added to his holdings in Humana Inc. by 23.86%. His purchase prices were between $35.32 and $42.1, with an estimated average price of $38.81. The impact to his portfolio due to this purchase was 1.41%. His holdings were 13,621,400 shares as of 11/30/2009.Humana, Inc. is a health services company that facilitates the delivery of health care services through networks of providers to its medical members. Humana Inc. has a market cap of $8.26 billion; its shares were traded at around $48.62 with a P/E ratio of 8.5 and P/S ratio of 0.3. Humana Inc. had an annual average earning growth of 18.7% over the past 10 years. GuruFocus rated Humana Inc. the business predictability rank of 3-star.
Added: Hertz Global Holdings Inc. (HTZ, Financial)
Fairholme Fund added to his holdings in Hertz Global Holdings Inc. by 5.97%. His purchase prices were between $8.89 and $11.7, with an estimated average price of $10.11. The impact to his portfolio due to this purchase was 0.35%. His holdings were 49,493,500 shares as of 11/30/2009.HERTZ GLOBAL HOLDING is the worlds largest general use car rental brand, operating from approximately 8,100 locations in 147 countries worldwide. Hertz Global Holdings Inc. has a market cap of $4.24 billion; its shares were traded at around $10.36 with and P/S ratio of 0.5.
Added: Spirit Aerosystems Holdings Inc. (SPR, Financial)
Fairholme Fund added to his holdings in Spirit Aerosystems Holdings Inc. by 5.54%. His purchase prices were between $15.19 and $18.91, with an estimated average price of $17.43. The impact to his portfolio due to this purchase was 0.29%. His holdings were 23,451,750 shares as of 11/30/2009.SPIRIT AEROSYSTEMS is the world's largest independent supplier of commercial airplane assemblies and components. It has a market cap of $3.03 billion; its shares were traded at around $21.45 with a P/E ratio of 11.7 and P/S ratio of 0.8.
Added: The St. Joe Company (JOE, Financial)
Fairholme Fund added to his holdings in The St. Joe Company by 3.48%. His purchase prices were between $23.94 and $32.66, with an estimated average price of $27.91. The impact to his portfolio due to this purchase was 0.25%. His holdings were 23,036,502 shares as of 11/30/2009.St. Joe Company is one of the Southeast's largest real estate operating companies. It has a market cap of $2.4 billion; its shares were traded at around $26 with and P/S ratio of 9.1. The St. Joe Company had an annual average earning growth of 5.4% over the past 10 years.
New Purchase: Burlington Northern Santa Fe Corp. (BNI, Financial)
Fairholme Fund initiated holdings in Burlington Northern Santa Fe Corp.. His purchase prices were between $75.32 and $98.31, with an estimated average price of $86.75. The impact to his portfolio due to this purchase was 6.31%. His holdings were 4,942,500 shares as of 11/30/2009.Burlington North/Santa Fe will be bought by Berkshire Hathaway for $100 a share.
New Purchase: Citigroup Inc. (C, Financial)
Fairholme Fund initiated holdings in Citigroup Inc.. His purchase prices were between $3.97 and $4.85, with an estimated average price of $4.39. The impact to his portfolio due to this purchase was 5.78%. His holdings were 108,290,000 shares as of 11/30/2009.Citigroup Inc. has a market cap of $75.91 billion; its shares were traded at around $3.32 with and P/S ratio of 0.8. Citigroup Inc. had an annual average earning growth of 5.1% over the past 10 years.
New Purchase: Rsc Holdings Inc. (RRR, Financial)
Fairholme Fund initiated holdings in Rsc Holdings Inc.. His purchase prices were between $6.31 and $8.23, with an estimated average price of $7.15. The impact to his portfolio due to this purchase was 0.63%. His holdings were 7,598,800 shares as of 11/30/2009.RSC HOLDINGS is one of the largest equipment rental providers in North America. Rsc Holdings Inc. has a market cap of $742.6 million; its shares were traded at around $7.18 with and P/S ratio of 0.4.
New Purchase: Winthrop Realty Trust (FUR, Financial)
Fairholme Fund initiated holdings in Winthrop Realty Trust. His purchase prices were between $8.75 and $9.9, with an estimated average price of $9.17. The impact to his portfolio due to this purchase was 0.35%. His holdings were 2,988,648 shares as of 11/30/2009.Winthrop Realty Trust is a Boston-based real estate investment trust. It has a market cap of $253.7 million; its shares were traded at around $12.45 with a P/E ratio of 7.9 and P/S ratio of 5.6. The dividend yield of Winthrop Realty Trust stocks is 5.2%.
Reduced: United Rentals Inc. (URI, Financial)
Fairholme Fund reduced to his holdings in United Rentals Inc. by 41.52%. His sale prices were between $8.69 and $11.03, with an estimated average price of $9.86. The impact to his portfolio due to this sale was -0.24%. Fairholme Fund still held 4,755,232 shares as of 11/30/2009.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. It has a market cap of $481.9 million; its shares were traded at around $8.01 with a P/E ratio of 57.2 and P/S ratio of 0.2. United Rentals Inc. had an annual average earning growth of 4.9% over the past 10 years. GuruFocus rated United Rentals Inc. the business predictability rank of 2-star.
Reduced: Pfizer Inc (PFE)
Fairholme Fund reduced to his holdings in Pfizer Inc by 77.43%. His sale prices were between $16.08 and $18.59, with an estimated average price of $17.07. The impact to his portfolio due to this sale was -3.15%. Fairholme Fund still held 17,261,015 shares as of 11/30/2009.Pfizer Inc has a market cap of $150.58 billion; its shares were traded at around $18.66 with a P/E ratio of 8.5 and P/S ratio of 3.1. The dividend yield of Pfizer Inc stocks is 3.5%. Pfizer Inc had an annual average earning growth of 11% over the past 10 years.
Sold Out: Northrop Grumman Corp. (NOC)
Fairholme Fund sold out his holdings in Northrop Grumman Corp.. His sale prices were between $47.91 and $56.05, with an estimated average price of $51.59.Northrop Grumman Corporation is a high technology company providing innovative solutions in systems integration, defense electronics and information technology for its U.S. and international military, government and commercial customers, as a prime contractor, principal subcontractor, team member or preferred supplier. Northrop Grumman Corp. has a market cap of $17.76 billion; its shares were traded at around $56.6 with a P/E ratio of 10.4 and P/S ratio of 0.5. The dividend yield of Northrop Grumman Corp. stocks is 3.1%. Northrop Grumman Corp. had an annual average earning growth of 1.3% over the past 10 years.
Sold Out: The Boeing Company (BA)
Fairholme Fund sold out his holdings in The Boeing Company. His sale prices were between $47.22 and $54.62, with an estimated average price of $51.02.The Boeing Company is one of the world's major aerospace firms. The company operates in three principal segments: commercial airplanes; military aircraft and missiles; and space and communications. The Boeing Company has a market cap of $44.03 billion; its shares were traded at around $60.6 with a P/E ratio of 89.1 and P/S ratio of 0.8. The dividend yield of The Boeing Company stocks is 2.8%. The Boeing Company had an annual average earning growth of 10.9% over the past 10 years. GuruFocus rated The Boeing Company the business predictability rank of 2.5-star.
Sold Out: Unitedhealth Group Inc. (UNH)
Fairholme Fund sold out his holdings in Unitedhealth Group Inc.. His sale prices were between $24.04 and $29.56, with an estimated average price of $27.27.Unitedhealth Group Inc. has a market cap of $38.35 billion; its shares were traded at around $33 with a P/E ratio of 10.2 and P/S ratio of 0.4. The dividend yield of Unitedhealth Group Inc. stocks is 0.1%. Unitedhealth Group Inc. had an annual average earning growth of 30.4% over the past 10 years. GuruFocus rated Unitedhealth Group Inc. the business predictability rank of 4-star.
