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Amber Harris
Amber Harris
Articles (133) 

Fairholme Fund Increases Stakes During 1Q2015

Bruce Berkowitz (Trades, Portfolio)'s Fairholme Fund (Trades, Portfolio) recently increased its stakes in three positions in the portfolio. The fund currently owns 26 positions that are valued at $5.13 billion all together. The firm likes to hold onto stocks for long periods of time, as the quarter-over-quarter turnover of 1% indicates.

As outlined in the current portfolio tab, which can be found here, the firm's favorite sector to invest in is the financial sector. 79.8% of its portfolio consists of stocks in this sector.

At the end of February, the firm increased its stakes in Federal Home Mortgage Corp (FMCKJ), Sears Canada Inc (TSX:SCC) and Imperial Metals Corp (TSX:III).

Federal Home Mortgage Corp

The firm increased its stake in FMCKJ by 22.3%, purchasing 8,760,000 new shares during 1Q2015 at an average price of $4.36 a share. The stock is currently trading at $4.87 a share.

Federal Home Loan Mortgage Corp is a providor of an affordable and stable housing market to the United States. The company was chartered by Congress in 1970.

Sears Canada Inc

Fairholme increased its stakes in Sears Canada by 26.3%. 6,417,700 shares were purchased at an average price of C$11.59 a share. The stock is currently trading at C$9.45 a share.

Sears Canada is a multi-format retailer that was incorporated in Canada in 1952.

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Revenue per shares for the trailing 12 months as of January 2015 was C$33.61. Revenue has been declining over the past five years. Its growth rate was -6.5% a year for the past five years.

Imperial Metals Corp

The firm increased its stake in this postion by ~26%, purchasing 6,417,700 shares at an average rate of C$11.59 a share. Imperial Metals is currently trading at C$12.90 a share.

Imperial Metals is a mining company that actively explores, acquires and develops precious metals.

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As of the quarter December 2014, revenue per share was C$1.73 and its growth rate for the year was -30.5%. Growth rate for the past five years was -10.8% a year. Revenue has been declining over the past five years, as the chart above indicates.

Fairholme also reduced its stakes in American International Group Inc (NYSE:AIG) and Bank of America Corporation (NYSE:BAC)

For a complete list of the firm's latest stock picks, click here, Premium Members.

About the author:

Amber Harris
Assistant Editor at GuruFocus.com


Rating: 3.0/5 (2 votes)

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Comments

Jonathan Poland
Jonathan Poland - 4 years ago    Report SPAM

It's a constant wonder whether Bruce and Eddie will make money with Sears!

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