This is the Q3 portfolio update of Fairholme Fund, the mutual fund that is managed by Bruce Berkowitz. Fairholme continues to add financial holdings like AIG, Bank of America. AIG is now the largest holding of the fund.
Up to June 30, Fairholme Fund had achieved a cumulative gain of 255% since incepted on Dec. 29, 1999. The S&P500 lost 14.81% in the same period.
Please note that in addition to the portfolio of Fairholme Fund, we also track the overall portfolio Fairholme Capital Management under the name of Bruce Berkowitz. The two portfolios have different fiscal periods, this will help us to track Bruce Berkowitz more closely.
Fairholme Fund buys General Electric Company, sells Comcast Corp., Comcast Corp. Special during the 3-months ended 08/31/2010, according to the most recent filings of his investment company, Fairholme Fund. Fairholme Fund owns 0 stocks with a total value of $9.1 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 Fairholme Fund
Added: Morgan Stanley (MS, Financial)
Fairholme Fund added to his holdings in Morgan Stanley by 1369.92%. His purchase prices were between $22.83 and $27.87, with an estimated average price of $25.67. The impact to his portfolio due to this purchase was 7.63%. His holdings were 30,134,800 shares as of 08/31/2010.
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 $34.93 billion; its shares were traded at around $24.86 with a P/E ratio of 13.7 and P/S ratio of 1.5. The dividend yield of Morgan Stanley stocks is 0.8%. Morgan Stanley had an annual average earning growth of 6.4% over the past 10 years.
Added: Bank Of America Corp. (BAC, Financial)
Fairholme Fund added to his holdings in Bank Of America Corp. by 45.5%. His purchase prices were between $12.32 and $15.89, with an estimated average price of $14.36. The impact to his portfolio due to this purchase was 2.6%. His holdings were 60,567,115 shares as of 08/31/2010.
Bank of America Corp. is one of the world's financial services companies. Bank Of America Corp. has a market cap of $118.59 billion; its shares were traded at around $11.53 with a P/E ratio of 53.8 and P/S ratio of 0.8. The dividend yield of Bank Of America Corp. stocks is 0.3%.
Added: American International Group Inc. (AIG, Financial)
Fairholme Fund added to his holdings in American International Group Inc. by 3.06%. His purchase prices were between $33.1 and $41.64, with an estimated average price of $36.62. The impact to his portfolio due to this purchase was 0.33%. His holdings were 29,382,400 shares as of 08/31/2010.
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 $5.74 billion; its shares were traded at around $41.98 with and P/S ratio of 0.1.
Added: Mbia Inc. (MBI, Financial)
Fairholme Fund added to his holdings in Mbia Inc. by 7.29%. His purchase prices were between $5.51 and $9.6, with an estimated average price of $7.43. The impact to his portfolio due to this purchase was 0.14%. His holdings were 20,501,100 shares as of 08/31/2010.
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 $2.28 billion; its shares were traded at around $11.17 with and P/S ratio of 0.8.
Added: Berkshire Hathaway Inc. (BRK.A, Financial)
Fairholme Fund added to his holdings in Berkshire Hathaway Inc. by 2.53%. His purchase prices were between $104950 and $122300, with an estimated average price of $116682. The impact to his portfolio due to this purchase was 0.13%. His holdings were 4,059 shares as of 08/31/2010.
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 $197.68 billion; its shares were traded at around $120025 with a P/E ratio of 22.6 and P/S ratio of 2.2. Berkshire Hathaway Inc. had an annual average earning growth of 3.7% over the past 10 years.
New Purchase: General Electric Company (GE, Financial)
Fairholme Fund initiated holdings in General Electric Company. His purchase prices were between $13.88 and $16.52, with an estimated average price of $15.39. The impact to his portfolio due to this purchase was 2.04%. His holdings were 12,807,900 shares as of 08/31/2010.
General Electric is one of the largest and most diversified industrial corporations in the world. General Electric Company has a market cap of $171.86 billion; its shares were traded at around $16.08 with a P/E ratio of 14.6 and P/S ratio of 1.1. The dividend yield of General Electric Company stocks is 3%. General Electric Company had an annual average earning growth of 14.1% over the past 10 years. GuruFocus rated General Electric Company the business predictability rank of 4-star.
Reduced: Tal International Group Inc. (TAL, Financial)
Fairholme Fund reduced to his holdings in Tal International Group Inc. by 3.03%. His sale prices were between $21.02 and $28.28, with an estimated average price of $24.34. The impact to his portfolio due to this sale was less than 0.01%. Fairholme Fund still held 194,949 shares as of 08/31/2010.
TAL International Group, Inc. is a lessor of intermodal containers and chassis. Tal International Group Inc. has a market cap of $812.9 million; its shares were traded at around $26.59 with a P/E ratio of 20 and P/S ratio of 2.3. The dividend yield of Tal International Group Inc. stocks is 5.3%. Tal International Group Inc. had an annual average earning growth of 4.3% over the past 5 years.
Reduced: Winthrop Realty Trust (FUR, Financial)
Fairholme Fund reduced to his holdings in Winthrop Realty Trust by 9.96%. His sale prices were between $11.11 and $13.62, with an estimated average price of $12.39. The impact to his portfolio due to this sale was -0.04%. Fairholme Fund still held 2,646,548 shares as of 08/31/2010.
Winthrop Realty Trust is a Boston-based real estate investment trust. Winthrop Realty Trust has a market cap of $344.9 million; its shares were traded at around $13.33 with a P/E ratio of 8.2 and P/S ratio of 7.2. The dividend yield of Winthrop Realty Trust stocks is 5%. Winthrop Realty Trust had an annual average earning growth of 8.5% over the past 10 years.
Reduced: Spirit Aerosystems Holdings Inc. (SPR, Financial)
Fairholme Fund reduced to his holdings in Spirit Aerosystems Holdings Inc. by 4.55%. His sale prices were between $17.26 and $21.53, with an estimated average price of $19.95. The impact to his portfolio due to this sale was -0.19%. Fairholme Fund still held 19,500,800 shares as of 08/31/2010.
SPIRIT AEROSYSTEMS is the world's largest independent supplier of commercial airplane assemblies and components. Spirit Aerosystems Holdings Inc. has a market cap of $3.03 billion; its shares were traded at around $21.29 with a P/E ratio of 11 and P/S ratio of 0.8.
Reduced: Regions Financial Corp. (RF, Financial)
Fairholme Fund reduced to his holdings in Regions Financial Corp. by 5.68%. His sale prices were between $6.2 and $7.7, with an estimated average price of $7.01. The impact to his portfolio due to this sale was -0.26%. Fairholme Fund still held 63,797,404 shares as of 08/31/2010.
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 $8.02 billion; its shares were traded at around $6.29 with and P/S ratio of 0.9. The dividend yield of Regions Financial Corp. stocks is 0.6%.
Reduced: Hertz Global Holdings Inc. (HTZ, Financial)
Fairholme Fund reduced to his holdings in Hertz Global Holdings Inc. by 68.3%. His sale prices were between $8.58 and $11.95, with an estimated average price of $10.09. The impact to his portfolio due to this sale was -0.69%. Fairholme Fund still held 10,780,300 shares as of 08/31/2010.
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 $4.48 billion; its shares were traded at around $11.37 with a P/E ratio of 30.2 and P/S ratio of 0.6.
Reduced: Humana Inc. (HUM, Financial)
Fairholme Fund reduced to his holdings in Humana Inc. by 51.65%. His sale prices were between $44.34 and $50.71, with an estimated average price of $47.66. The impact to his portfolio due to this sale was -1.68%. Fairholme Fund still held 6,194,700 shares as of 08/31/2010.
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 $9.7 billion; its shares were traded at around $57.84 with a P/E ratio of 8.7 and P/S ratio of 0.3. Humana Inc. had an annual average earning growth of 23.5% over the past 10 years. GuruFocus rated Humana Inc. the business predictability rank of 3.5-star.
Sold Out: Comcast Corp. Special (CMCSK)
Fairholme Fund sold out his holdings in Comcast Corp. Special. His sale prices were between $15.98 and $18.49, with an estimated average price of $17.24.
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 $55.48 billion; its shares were traded at around $19.59 with a P/E ratio of 15.9 and P/S ratio of 1.5. The dividend yield of Comcast Corp. Special stocks is 2%. Comcast Corp. Special had an annual average earning growth of 8.5% over the past 10 years.
Sold Out: Comcast Corp. (CMCSA)
Fairholme Fund sold out his holdings in Comcast Corp.. His sale prices were between $17 and $19.56, with an estimated average price of $18.26.
Comcast Corp., among the world's communication companies, provides basic cable, digital cable and high speed internet services that connect people to what's important in their lives. Comcast Corp. has a market cap of $57.63 billion; its shares were traded at around $20.86 with a P/E ratio of 17 and P/S ratio of 1.5. The dividend yield of Comcast Corp. stocks is 1.8%. Comcast Corp. had an annual average earning growth of 14.9% over the past 10 years.
Up to June 30, Fairholme Fund had achieved a cumulative gain of 255% since incepted on Dec. 29, 1999. The S&P500 lost 14.81% in the same period.
Please note that in addition to the portfolio of Fairholme Fund, we also track the overall portfolio Fairholme Capital Management under the name of Bruce Berkowitz. The two portfolios have different fiscal periods, this will help us to track Bruce Berkowitz more closely.
Fairholme Fund buys General Electric Company, sells Comcast Corp., Comcast Corp. Special during the 3-months ended 08/31/2010, according to the most recent filings of his investment company, Fairholme Fund. Fairholme Fund owns 0 stocks with a total value of $9.1 billion. These are the details of the buys and sells.
- New Purchases: GE,
- Added Positions: AIG, BAC, BRK.A, MBI, MS,
- Reduced Positions: FUR, HTZ, HUM, RF, SPR, TAL,
- Sold Out: CMCSA, CMCSK,
This is the sector weightings of his portfolio:
These are the top 5 holdings of Fairholme Fund
- American International Group Inc. (AIG) - 29,382,400 shares, 10.97% of the total portfolio. Shares added by 3.06%
- Sears Holdings Corp. (SHLD) - 12,860,071 shares, 8.76% of the total portfolio.
- Goldman Sachs Group Inc. The (GS) - 5,578,900 shares, 8.41% of the total portfolio.
- Citigroup Inc. (C) - 202,896,100 shares, 8.31% of the total portfolio. Shares added by 0.5%
- Bank Of America Corp. (BAC) - 60,567,115 shares, 8.3% of the total portfolio. Shares added by 45.5%
Added: Morgan Stanley (MS, Financial)
Fairholme Fund added to his holdings in Morgan Stanley by 1369.92%. His purchase prices were between $22.83 and $27.87, with an estimated average price of $25.67. The impact to his portfolio due to this purchase was 7.63%. His holdings were 30,134,800 shares as of 08/31/2010.
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 $34.93 billion; its shares were traded at around $24.86 with a P/E ratio of 13.7 and P/S ratio of 1.5. The dividend yield of Morgan Stanley stocks is 0.8%. Morgan Stanley had an annual average earning growth of 6.4% over the past 10 years.
Added: Bank Of America Corp. (BAC, Financial)
Fairholme Fund added to his holdings in Bank Of America Corp. by 45.5%. His purchase prices were between $12.32 and $15.89, with an estimated average price of $14.36. The impact to his portfolio due to this purchase was 2.6%. His holdings were 60,567,115 shares as of 08/31/2010.
Bank of America Corp. is one of the world's financial services companies. Bank Of America Corp. has a market cap of $118.59 billion; its shares were traded at around $11.53 with a P/E ratio of 53.8 and P/S ratio of 0.8. The dividend yield of Bank Of America Corp. stocks is 0.3%.
Added: American International Group Inc. (AIG, Financial)
Fairholme Fund added to his holdings in American International Group Inc. by 3.06%. His purchase prices were between $33.1 and $41.64, with an estimated average price of $36.62. The impact to his portfolio due to this purchase was 0.33%. His holdings were 29,382,400 shares as of 08/31/2010.
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 $5.74 billion; its shares were traded at around $41.98 with and P/S ratio of 0.1.
Added: Mbia Inc. (MBI, Financial)
Fairholme Fund added to his holdings in Mbia Inc. by 7.29%. His purchase prices were between $5.51 and $9.6, with an estimated average price of $7.43. The impact to his portfolio due to this purchase was 0.14%. His holdings were 20,501,100 shares as of 08/31/2010.
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 $2.28 billion; its shares were traded at around $11.17 with and P/S ratio of 0.8.
Added: Berkshire Hathaway Inc. (BRK.A, Financial)
Fairholme Fund added to his holdings in Berkshire Hathaway Inc. by 2.53%. His purchase prices were between $104950 and $122300, with an estimated average price of $116682. The impact to his portfolio due to this purchase was 0.13%. His holdings were 4,059 shares as of 08/31/2010.
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 $197.68 billion; its shares were traded at around $120025 with a P/E ratio of 22.6 and P/S ratio of 2.2. Berkshire Hathaway Inc. had an annual average earning growth of 3.7% over the past 10 years.
New Purchase: General Electric Company (GE, Financial)
Fairholme Fund initiated holdings in General Electric Company. His purchase prices were between $13.88 and $16.52, with an estimated average price of $15.39. The impact to his portfolio due to this purchase was 2.04%. His holdings were 12,807,900 shares as of 08/31/2010.
General Electric is one of the largest and most diversified industrial corporations in the world. General Electric Company has a market cap of $171.86 billion; its shares were traded at around $16.08 with a P/E ratio of 14.6 and P/S ratio of 1.1. The dividend yield of General Electric Company stocks is 3%. General Electric Company had an annual average earning growth of 14.1% over the past 10 years. GuruFocus rated General Electric Company the business predictability rank of 4-star.
Reduced: Tal International Group Inc. (TAL, Financial)
Fairholme Fund reduced to his holdings in Tal International Group Inc. by 3.03%. His sale prices were between $21.02 and $28.28, with an estimated average price of $24.34. The impact to his portfolio due to this sale was less than 0.01%. Fairholme Fund still held 194,949 shares as of 08/31/2010.
TAL International Group, Inc. is a lessor of intermodal containers and chassis. Tal International Group Inc. has a market cap of $812.9 million; its shares were traded at around $26.59 with a P/E ratio of 20 and P/S ratio of 2.3. The dividend yield of Tal International Group Inc. stocks is 5.3%. Tal International Group Inc. had an annual average earning growth of 4.3% over the past 5 years.
Reduced: Winthrop Realty Trust (FUR, Financial)
Fairholme Fund reduced to his holdings in Winthrop Realty Trust by 9.96%. His sale prices were between $11.11 and $13.62, with an estimated average price of $12.39. The impact to his portfolio due to this sale was -0.04%. Fairholme Fund still held 2,646,548 shares as of 08/31/2010.
Winthrop Realty Trust is a Boston-based real estate investment trust. Winthrop Realty Trust has a market cap of $344.9 million; its shares were traded at around $13.33 with a P/E ratio of 8.2 and P/S ratio of 7.2. The dividend yield of Winthrop Realty Trust stocks is 5%. Winthrop Realty Trust had an annual average earning growth of 8.5% over the past 10 years.
Reduced: Spirit Aerosystems Holdings Inc. (SPR, Financial)
Fairholme Fund reduced to his holdings in Spirit Aerosystems Holdings Inc. by 4.55%. His sale prices were between $17.26 and $21.53, with an estimated average price of $19.95. The impact to his portfolio due to this sale was -0.19%. Fairholme Fund still held 19,500,800 shares as of 08/31/2010.
SPIRIT AEROSYSTEMS is the world's largest independent supplier of commercial airplane assemblies and components. Spirit Aerosystems Holdings Inc. has a market cap of $3.03 billion; its shares were traded at around $21.29 with a P/E ratio of 11 and P/S ratio of 0.8.
Reduced: Regions Financial Corp. (RF, Financial)
Fairholme Fund reduced to his holdings in Regions Financial Corp. by 5.68%. His sale prices were between $6.2 and $7.7, with an estimated average price of $7.01. The impact to his portfolio due to this sale was -0.26%. Fairholme Fund still held 63,797,404 shares as of 08/31/2010.
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 $8.02 billion; its shares were traded at around $6.29 with and P/S ratio of 0.9. The dividend yield of Regions Financial Corp. stocks is 0.6%.
Reduced: Hertz Global Holdings Inc. (HTZ, Financial)
Fairholme Fund reduced to his holdings in Hertz Global Holdings Inc. by 68.3%. His sale prices were between $8.58 and $11.95, with an estimated average price of $10.09. The impact to his portfolio due to this sale was -0.69%. Fairholme Fund still held 10,780,300 shares as of 08/31/2010.
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 $4.48 billion; its shares were traded at around $11.37 with a P/E ratio of 30.2 and P/S ratio of 0.6.
Reduced: Humana Inc. (HUM, Financial)
Fairholme Fund reduced to his holdings in Humana Inc. by 51.65%. His sale prices were between $44.34 and $50.71, with an estimated average price of $47.66. The impact to his portfolio due to this sale was -1.68%. Fairholme Fund still held 6,194,700 shares as of 08/31/2010.
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 $9.7 billion; its shares were traded at around $57.84 with a P/E ratio of 8.7 and P/S ratio of 0.3. Humana Inc. had an annual average earning growth of 23.5% over the past 10 years. GuruFocus rated Humana Inc. the business predictability rank of 3.5-star.
Sold Out: Comcast Corp. Special (CMCSK)
Fairholme Fund sold out his holdings in Comcast Corp. Special. His sale prices were between $15.98 and $18.49, with an estimated average price of $17.24.
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 $55.48 billion; its shares were traded at around $19.59 with a P/E ratio of 15.9 and P/S ratio of 1.5. The dividend yield of Comcast Corp. Special stocks is 2%. Comcast Corp. Special had an annual average earning growth of 8.5% over the past 10 years.
Sold Out: Comcast Corp. (CMCSA)
Fairholme Fund sold out his holdings in Comcast Corp.. His sale prices were between $17 and $19.56, with an estimated average price of $18.26.
Comcast Corp., among the world's communication companies, provides basic cable, digital cable and high speed internet services that connect people to what's important in their lives. Comcast Corp. has a market cap of $57.63 billion; its shares were traded at around $20.86 with a P/E ratio of 17 and P/S ratio of 1.5. The dividend yield of Comcast Corp. stocks is 1.8%. Comcast Corp. had an annual average earning growth of 14.9% over the past 10 years.
