Is Bruce Berkowitz of Fairholme Fund becoming more bearish? He sold 9 stocks, and bought just two, both are financials. He got out of healthcare stocks, which he heavily owned last year. This is the Q1 portfolio update of Bruce Berkowitz.
According to the most recent filings of his investment company, Fairholme Capital Management, Bruce Berkowitz owns 21 stocks with a total value of $10.5 billion. These are the details of the buys and sells.
This is the sector weightings of his portfolio:
These are the top 5 holdings of Bruce Berkowitz
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 $9.87 billion; its shares were traded at around $8.26 with and P/S ratio of 1. The dividend yield of Regions Financial Corp. stocks is 0.5%.
Comcast Corporation is principally involved in the development, management and operation of broadband cable networks, and in the provision of electronic commerce and programming content. Comcast Corp. Special has a market cap of $49.26 billion; its shares were traded at around $16.88 with and P/S ratio of 1.4. The dividend yield of Comcast Corp. Special stocks is 2.2%. Comcast Corp. Special had an annual average earning growth of 14.6% over the past 10 years.
Citigroup Inc., the global financial services company, has some two hundred million customer accounts and does business in more than hundred countries, providing consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citigroup Inc. has a market cap of $113.34 billion; its shares were traded at around $3.98 with and P/S ratio of 1.3.
RSC HOLDINGS is one of the largest equipment rental providers in North America. Rsc Holdings Inc. has a market cap of $878 million; its shares were traded at around $8.49 with and P/S ratio of 0.7.
Bank of America Corp. is one of the world's financial services companies. Bank Of America Corp. has a market cap of $141.5 billion; its shares were traded at around $16.34 with and P/S ratio of 1. The dividend yield of Bank Of America Corp. stocks is 0.2%.
American International Group, Inc., world leaders in insurance and financial services, is the international insurance organization with operations in more than one hundred thirty countries and jurisdictions. American International Group Inc. has a market cap of $5.36 billion; its shares were traded at around $39.72 with and P/S ratio of 0.1.
DAILY JOURNAL CORPORATION publishes newspapers in California, Washington, Arizona, Colorado and Nevada. Daily Journal Corp. has a market cap of $101.3 million; its shares were traded at around $70.02 with a P/E ratio of 11.7 and P/S ratio of 2.5. Daily Journal Corp. had an annual average earning growth of 11.3% over the past 10 years.
Berkshire Hathaway Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities. Berkshire Hathaway Inc. has a market cap of $189.05 billion; its shares were traded at around $76.23 with a P/E ratio of 22 and P/S ratio of 1.8. Berkshire Hathaway Inc. had an annual average earning growth of 18.2% over the past 10 years. GuruFocus rated Berkshire Hathaway Inc. the business predictability rank of 2-star.
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. United Rentals Inc. has a market cap of $815.8 million; its shares were traded at around $13.56 with and P/S ratio of 0.3.
WellPoint, Inc. is the largest publicly traded commercial health benefits company in terms of membership in the United States. Wellpoint Inc. has a market cap of $23.57 billion; its shares were traded at around $53.09 with a P/E ratio of 8.5 and P/S ratio of 0.4. Wellpoint Inc. had an annual average earning growth of 21.6% over the past 10 years.
PENN WEST ENERGY TRUST is a senior oil and natural gas energy trust based in Calgary, Alberta. Penn West Energy Trust Trust Units has a market cap of $8.31 billion; its shares were traded at around $19.64 with a P/E ratio of 245.6 and P/S ratio of 3.4. The dividend yield of Penn West Energy Trust Trust Units stocks is 9.2%.
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 Inc has a market cap of $130.7 billion; its shares were traded at around $16.2 with a P/E ratio of 7.7 and P/S ratio of 2.5. The dividend yield of Pfizer Inc stocks is 4.4%. Pfizer Inc had an annual average earning growth of 1.8% over the past 10 years.
Marshall & Ilsley Corp. is a diversified financial services corporation. Marshall & Ilsley Corp New Com has a market cap of $4.5 billion; its shares were traded at around $8.54 with and P/S ratio of 1.8. The dividend yield of Marshall & Ilsley Corp New Com stocks is 0.4%.
The Coca-Cola Company is the world's largest beverage company and is the producer and marketer of soft drinks. The Cocacola Company has a market cap of $122.96 billion; its shares were traded at around $53.34 with a P/E ratio of 16.7 and P/S ratio of 4. The dividend yield of The Cocacola Company stocks is 3.3%. The Cocacola Company had an annual average earning growth of 8.9% over the past 10 years. GuruFocus rated The Cocacola Company the business predictability rank of 3.5-star.
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 Laboratories Inc. has a market cap of $8.03 billion; its shares were traded at around $26.54 with a P/E ratio of 7.5 and P/S ratio of 2. Forest Laboratories Inc. had an annual average earning growth of 20.9% over the past 10 years. GuruFocus rated Forest Laboratories Inc. the business predictability rank of 2-star.
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 $40.47 billion; its shares were traded at around $23.56 with a P/E ratio of 11.1 and P/S ratio of 2.2. The dividend yield of Bristolmyers Squibb Company stocks is 5.4%.
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 $2.86 billion; its shares were traded at around $325.55 with a P/E ratio of 24.1 and P/S ratio of 0.7. The dividend yield of White Mountains Insurance Group Ltd. stocks is 0.3%.
According to the most recent filings of his investment company, Fairholme Capital Management, Bruce Berkowitz owns 21 stocks with a total value of $10.5 billion. These are the details of the buys and sells.
- New Purchases: AIG, BAC,
- Added Positions: C, CMCSK, RF, RRR,
- Reduced Positions: BRK.B, DJCO,
- Sold Out: BMY, FRX, KO, MI, PFE, PWE, URI, WLP, WTM,
This is the sector weightings of his portfolio:
These are the top 5 holdings of Bruce Berkowitz
- Sears Holdings Corp. (SHLD) - 14,714,071 shares, 15.2% of the total portfolio. Shares reduced by 1.59%
- Citigroup Inc. (C) - 227,460,600 shares, 8.78% of the total portfolio. Shares added by 5.94%
- The St. Joe Company (JOE) - 26,799,155 shares, 8.26% of the total portfolio. Shares reduced by 0.13%
- Humana Inc. (HUM) - 15,798,900 shares, 7.04% of the total portfolio. Shares reduced by 0.51%
- AmeriCredit Corp. (ACF) - 30,673,922 shares, 6.94% of the total portfolio. Shares reduced by 13.23%
Added: Regions Financial Corp. (RF, Financial)
Bruce Berkowitz added to his holdings in Regions Financial Corp. by 74.84%. His purchase prices were between $5.29 and $7.85, with an estimated average price of $6.66. The impact to his portfolio due to this purchase was 2.43%. His holdings were 75,815,514 shares as of 03/31/2010.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 $9.87 billion; its shares were traded at around $8.26 with and P/S ratio of 1. The dividend yield of Regions Financial Corp. stocks is 0.5%.
Added: Comcast Corp. Special (CMCSK, Financial)
Bruce Berkowitz added to his holdings in Comcast Corp. Special by 46.05%. His purchase prices were between $14.48 and $17.88, with an estimated average price of $15.9. The impact to his portfolio due to this purchase was 1.14%. His holdings were 21,208,100 shares as of 03/31/2010.Comcast Corporation is principally involved in the development, management and operation of broadband cable networks, and in the provision of electronic commerce and programming content. Comcast Corp. Special has a market cap of $49.26 billion; its shares were traded at around $16.88 with and P/S ratio of 1.4. The dividend yield of Comcast Corp. Special stocks is 2.2%. Comcast Corp. Special had an annual average earning growth of 14.6% over the past 10 years.
Added: Citigroup Inc. (C, Financial)
Bruce Berkowitz added to his holdings in Citigroup Inc. by 5.94%. His purchase prices were between $3.15 and $4.31, with an estimated average price of $3.56. The impact to his portfolio due to this purchase was 0.49%. His holdings were 227,460,600 shares as of 03/31/2010.Citigroup Inc., the global financial services company, has some two hundred million customer accounts and does business in more than hundred countries, providing consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citigroup Inc. has a market cap of $113.34 billion; its shares were traded at around $3.98 with and P/S ratio of 1.3.
Added: Rsc Holdings Inc. (RRR, Financial)
Bruce Berkowitz added to his holdings in Rsc Holdings Inc. by 32.62%. His purchase prices were between $6.52 and $7.91, with an estimated average price of $7.28. The impact to his portfolio due to this purchase was 0.27%. His holdings were 14,340,700 shares as of 03/31/2010.RSC HOLDINGS is one of the largest equipment rental providers in North America. Rsc Holdings Inc. has a market cap of $878 million; its shares were traded at around $8.49 with and P/S ratio of 0.7.
New Purchase: Bank Of America Corp. (BAC, Financial)
Bruce Berkowitz initiated holdings in Bank Of America Corp.. His purchase prices were between $14.45 and $18.04, with an estimated average price of $16.17. The impact to his portfolio due to this purchase was 6.69%. His holdings were 39,309,900 shares as of 03/31/2010.Bank of America Corp. is one of the world's financial services companies. Bank Of America Corp. has a market cap of $141.5 billion; its shares were traded at around $16.34 with and P/S ratio of 1. The dividend yield of Bank Of America Corp. stocks is 0.2%.
New Purchase: American International Group Inc. (AIG, Financial)
Bruce Berkowitz initiated holdings in American International Group Inc.. His purchase prices were between $22.16 and $36.24, with an estimated average price of $28.66. The impact to his portfolio due to this purchase was 4.89%. His holdings were 15,038,100 shares as of 03/31/2010.American International Group, Inc., world leaders in insurance and financial services, is the international insurance organization with operations in more than one hundred thirty countries and jurisdictions. American International Group Inc. has a market cap of $5.36 billion; its shares were traded at around $39.72 with and P/S ratio of 0.1.
Reduced: Daily Journal Corp. (DJCO, Financial)
Bruce Berkowitz reduced to his holdings in Daily Journal Corp. by 26.59%. His sale prices were between $59.2 and $69.71, with an estimated average price of $64.85. The impact to his portfolio due to this sale was less than 0.01%. Bruce Berkowitz still held 12,150 shares as of 03/31/2010.DAILY JOURNAL CORPORATION publishes newspapers in California, Washington, Arizona, Colorado and Nevada. Daily Journal Corp. has a market cap of $101.3 million; its shares were traded at around $70.02 with a P/E ratio of 11.7 and P/S ratio of 2.5. Daily Journal Corp. had an annual average earning growth of 11.3% over the past 10 years.
Reduced: Berkshire Hathaway Inc. (BRK.B, Financial)
Bruce Berkowitz reduced to his holdings in Berkshire Hathaway Inc. by 68.84%. His sale prices were between $64.94 and $83.36, with an estimated average price of $75.68. The impact to his portfolio due to this sale was -2%. Bruce Berkowitz still held 3,763,000 shares as of 03/31/2010.Berkshire Hathaway Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities. Berkshire Hathaway Inc. has a market cap of $189.05 billion; its shares were traded at around $76.23 with a P/E ratio of 22 and P/S ratio of 1.8. Berkshire Hathaway Inc. had an annual average earning growth of 18.2% over the past 10 years. GuruFocus rated Berkshire Hathaway Inc. the business predictability rank of 2-star.
Sold Out: United Rentals Inc. (URI, Financial)
Bruce Berkowitz sold out his holdings in United Rentals Inc.. His sale prices were between $7.02 and $10.04, with an estimated average price of $8.33.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. United Rentals Inc. has a market cap of $815.8 million; its shares were traded at around $13.56 with and P/S ratio of 0.3.
Sold Out: Wellpoint Inc. (WLP, Financial)
Bruce Berkowitz sold out his holdings in Wellpoint Inc.. His sale prices were between $58.29 and $68.06, with an estimated average price of $62.61.WellPoint, Inc. is the largest publicly traded commercial health benefits company in terms of membership in the United States. Wellpoint Inc. has a market cap of $23.57 billion; its shares were traded at around $53.09 with a P/E ratio of 8.5 and P/S ratio of 0.4. Wellpoint Inc. had an annual average earning growth of 21.6% over the past 10 years.
Sold Out: Penn West Energy Trust Trust Units (PWE, Financial)
Bruce Berkowitz sold out his holdings in Penn West Energy Trust Trust Units. His sale prices were between $16.43 and $21.64, with an estimated average price of $19.23.PENN WEST ENERGY TRUST is a senior oil and natural gas energy trust based in Calgary, Alberta. Penn West Energy Trust Trust Units has a market cap of $8.31 billion; its shares were traded at around $19.64 with a P/E ratio of 245.6 and P/S ratio of 3.4. The dividend yield of Penn West Energy Trust Trust Units stocks is 9.2%.
Sold Out: Pfizer Inc (PFE, Financial)
Bruce Berkowitz sold out his holdings in Pfizer Inc. His sale prices were between $16.91 and $20, with an estimated average price of $18.07.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 Inc has a market cap of $130.7 billion; its shares were traded at around $16.2 with a P/E ratio of 7.7 and P/S ratio of 2.5. The dividend yield of Pfizer Inc stocks is 4.4%. Pfizer Inc had an annual average earning growth of 1.8% over the past 10 years.
Sold Out: Marshall & Ilsley Corp New Com (MI)
Bruce Berkowitz sold out his holdings in Marshall & Ilsley Corp New Com. His sale prices were between $5.43 and $8.34, with an estimated average price of $7.02.Marshall & Ilsley Corp. is a diversified financial services corporation. Marshall & Ilsley Corp New Com has a market cap of $4.5 billion; its shares were traded at around $8.54 with and P/S ratio of 1.8. The dividend yield of Marshall & Ilsley Corp New Com stocks is 0.4%.
Sold Out: The Cocacola Company (KO)
Bruce Berkowitz sold out his holdings in The Cocacola Company. His sale prices were between $52.65 and $57.68, with an estimated average price of $54.78.The Coca-Cola Company is the world's largest beverage company and is the producer and marketer of soft drinks. The Cocacola Company has a market cap of $122.96 billion; its shares were traded at around $53.34 with a P/E ratio of 16.7 and P/S ratio of 4. The dividend yield of The Cocacola Company stocks is 3.3%. The Cocacola Company had an annual average earning growth of 8.9% over the past 10 years. GuruFocus rated The Cocacola Company the business predictability rank of 3.5-star.
Sold Out: Forest Laboratories Inc. (FRX)
Bruce Berkowitz sold out his holdings in Forest Laboratories Inc.. His sale prices were between $28.76 and $32.46, with an estimated average price of $30.51.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 Laboratories Inc. has a market cap of $8.03 billion; its shares were traded at around $26.54 with a P/E ratio of 7.5 and P/S ratio of 2. Forest Laboratories Inc. had an annual average earning growth of 20.9% over the past 10 years. GuruFocus rated Forest Laboratories Inc. the business predictability rank of 2-star.
Sold Out: Bristolmyers Squibb Company (BMY)
Bruce Berkowitz sold out his holdings in Bristolmyers Squibb Company. His sale prices were between $23.89 and $27, with an estimated average price of $25.09.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 $40.47 billion; its shares were traded at around $23.56 with a P/E ratio of 11.1 and P/S ratio of 2.2. The dividend yield of Bristolmyers Squibb Company stocks is 5.4%.
Sold Out: White Mountains Insurance Group Ltd. (WTM)
Bruce Berkowitz sold out his holdings in White Mountains Insurance Group Ltd.. His sale prices were between $316.98 and $358.04, with an estimated average price of $338.21.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 $2.86 billion; its shares were traded at around $325.55 with a P/E ratio of 24.1 and P/S ratio of 0.7. The dividend yield of White Mountains Insurance Group Ltd. stocks is 0.3%.
