Is Bruce Berkowitz selling the cheap stocks to buy cheaper ones? He even sold Berkshire Hathaway. This is the Q1 portfolio update of Fairholme Capital Managment. Bruce Berkowitz owns 33 stocks with a total value of $5.5 billion. These are the details of the buys and sells.
Added Positions: AXP, HTZ, JOE, SPR, JOE,
Reduced Positions: CLMT, CNQ, UNH,
Sold Out: BRK-B, DISH, JEF, MCY, MSVP.PK,
For the details of Bruce Berkowitz's stock buys and sells, go to the Link Here
This is the sector weightings of Bruce Berkowitz's portfolio:
These are the top 5 holdings of $GuruName
Added: American Express Company (AXP, Financial)
Bruce Berkowitz added to his holdings in American Express Company by 75.92%. His purchase prices were between $10.12 and $18.98, with an estimated average price of $14.6. The impact to his portfolio due to this purchase was 2.54%. His holdings were 23,813,050 shares as of 03/31/2009.
American Express Company is primarily engaged in the business of providing travel related services financial advisory services and international banking services throughout the world. American Express Travel Related Services Company Inc. provides a variety of products and services including global network services the American Express Card the Optima Card and other consumer and corporate lending products stored value products and several others. American Express Company has a market cap of $28.67 billion; its shares were traded at around $24.72 with a P/E ratio of 13.5 and P/S ratio of 1. The dividend yield of American Express Company stocks is 3%. American Express Company had an annual average earning growth of 1.3% over the past 10 years.
Added: The St. Joe Company (JOE, Financial)
Bruce Berkowitz added to his holdings in The St. Joe Company by 64.16%. His purchase prices were between $14.59 and $25.37, with an estimated average price of $20.8. The impact to his portfolio due to this purchase was 2.18%. His holdings were 18,456,326 shares as of 03/31/2009.
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 $2.21 billion; its shares were traded at around $23.86 with and P/S ratio of 8.4. The St. Joe Company had an annual average earning growth of 5.4% over the past 10 years.
Added: Hertz Global Holdings Inc. (HTZ, Financial)
Bruce Berkowitz added to his holdings in Hertz Global Holdings Inc. by 24.96%. His purchase prices were between $2.24 and $6.02, with an estimated average price of $4.3. The impact to his portfolio due to this purchase was 0.61%. His holdings were 42,738,138 shares as of 03/31/2009.
HERTZ GLOBAL HOLDING is the worlds largest general use car rental brand operating from approximately 8100 locations in 147 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 69 major airports in Europe operating both corporate and licensee locations in cities and airports in North America Hertz Global Holdings Inc. has a market cap of $2.33 billion; its shares were traded at around $7.22 with a P/E ratio of 48.1 and P/S ratio of 0.3.
Added: Spirit AeroSystems Holdings Inc. (SPR, Financial)
Bruce Berkowitz added to his holdings in Spirit AeroSystems Holdings Inc. by 21.14%. His purchase prices were between $8.32 and $13.6, with an estimated average price of $11.4. The impact to his portfolio due to this purchase was 0.6%. His holdings were 19,012,064 shares as of 03/31/2009.
SPIRIT AEROSYSTEMS is the world's largest independent supplier of commercial airplane assemblies and components. In addition to its Kansas facility Spirit has operations in Tulsa and McAlester Okla. Prestwick Scotland and Samlesbury England. In the U.S. Spirit's core products include fuselages pylons nacelles and wing components. Additionally Spirit provides aftermarket customer support services including spare parts maintenance/repair/overhaul and fleet support services in North America and Europe. Spirit Europe produces wing components for a host of customers including Airbus. Spirit AeroSystems Holdings Inc. has a market cap of $1.82 billion; its shares were traded at around $13.02 with a P/E ratio of 7.5 and P/S ratio of 0.5.
Reduced: Calumet Specialty Products Partners L.P. (CLMT, Financial)
Bruce Berkowitz reduced to his holdings in Calumet Specialty Products Partners L.P. by 28.43%. His sale prices were between $9.1 and $11.94, with an estimated average price of $10.9. The impact to his portfolio due to this sale was less than 0.01%. Bruce Berkowitz still held 29,200 shares as of 03/31/2009.
Calumet Specialty Products Partners L.P. is a leading independent producer of high-quality specialty hydrocarbon products in North America. Calumet processes crude oil into customized lubricating oils solvents and waxes used in consumer industrial and automotive products. The Company also produces fuel products including gasoline diesel fuel and jet fuel. Calumet is based in Indianapolis Indiana and has three plants located in northwest Louisiana. Calumet Specialty Products Partners L.P. has a market cap of $356.2 million; its shares were traded at around $11.05 with a P/E ratio of 4.5 and P/S ratio of 0.2. The dividend yield of Calumet Specialty Products Partners L.P. stocks is 16.3%.
Reduced: Canadian Natural Resources Ltd. (CNQ, Financial)
Bruce Berkowitz reduced to his holdings in Canadian Natural Resources Ltd. by 87.57%. His sale prices were between $30.81 and $42.51, with an estimated average price of $36.6. The impact to his portfolio due to this sale was -0.81%. Bruce Berkowitz still held 1,329,669 shares as of 03/31/2009.
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 $27.6 billion; its shares were traded at around $51.01 with a P/E ratio of 8.3 and P/S ratio of 1.9. The dividend yield of Canadian Natural Resources Ltd. stocks is 0.9%. Canadian Natural Resources Ltd. had an annual average earning growth of 25.5% over the past 5 years.
Reduced: UnitedHealth Group Inc. (UNH, Financial)
Bruce Berkowitz reduced to his holdings in UnitedHealth Group Inc. by 27.83%. His sale prices were between $17.87 and $28.92, with an estimated average price of $24.5. The impact to his portfolio due to this sale was -1.39%. Bruce Berkowitz still held 13,158,010 shares as of 03/31/2009.
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 $33.79 billion; its shares were traded at around $27.8 with a P/E ratio of 9.2 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 5-star.
Sold Out: Jefferies Group Inc. (JEF, Financial)
Bruce Berkowitz sold out his holdings in Jefferies Group Inc.. His sale prices were between $8.62 and $14.22, with an estimated average price of $12. The impact to his portfolio due to this sale was less than 0.01%.
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 $3.06 billion; its shares were traded at around $18.45 with and P/S ratio of 1.8. Jefferies Group Inc. had an annual average earning growth of 21.9% over the past 10 years.
Sold Out: Berkshire Hathaway Inc. (BRK-B)
Bruce Berkowitz sold out his holdings in Berkshire Hathaway Inc.. His sale prices were between $2327 and $3141, with an estimated average price of $2788.9. The impact to his portfolio due to this sale was less than 0.01%.
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 $40.15 billion; its shares were traded at around $2919.5 with and P/S ratio of 0.4. Berkshire Hathaway Inc. had an annual average earning growth of 1.7% over the past 10 years.
Sold Out: Mercury General Corp. (MCY, Financial)
Bruce Berkowitz sold out his holdings in Mercury General Corp.. His sale prices were between $22.95 and $42.55, with an estimated average price of $32.8. The impact to his portfolio due to this sale was less than 0.01%.
Mercury General Corp. is engaged primarily in writing all risk classifications of automobile insurance in a number of states principallyCalifornia. The company offers automobile policyholders the following types of coverage: bodily injury liability underinsured and uninsured motorist property damage liability comprehensive collision and other hazards specified in the policy. Mercury General Corp. has a market cap of $1.9 billion; its shares were traded at around $34.69 with a P/E ratio of 17.9 and P/S ratio of 0.7. The dividend yield of Mercury General Corp. stocks is 6.7%. Mercury General Corp. had an annual average earning growth of 31.1% over the past 10 years. GuruFocus rated Mercury General Corp. the business predictability rank of 2.5-star.
Added Positions: AXP, HTZ, JOE, SPR, JOE,
Reduced Positions: CLMT, CNQ, UNH,
Sold Out: BRK-B, DISH, JEF, MCY, MSVP.PK,
For the details of Bruce Berkowitz's stock buys and sells, go to the Link Here
This is the sector weightings of Bruce Berkowitz's portfolio:
| Financials |  20.1% |
|---|---|
| Consumer Services | 15.7% |
| Health Care | 46.5% |
| Consumer Goods | 0% |
| Industrials | 16.7% |
| Basic Materials | 0% |
| Oil & Gas | 0.9% |
These are the top 5 holdings of $GuruName
- Pfizer Inc (PFE) - 88,241,991 shares, 21.76% of the total portfolio
- Sears Holdings Corp. (SHLD) - 14,338,939 shares, 11.87% of the total portfolio
- Forest Laboratories Inc. (FRX) - 20,067,400 shares, 7.98% of the total portfolio
- WellPoint Inc. (WLP) - 10,061,624 shares, 6.92% of the total portfolio
- American Express Company (AXP) - 23,813,050 shares, 5.88% of the total portfolio
Added: American Express Company (AXP, Financial)
Bruce Berkowitz added to his holdings in American Express Company by 75.92%. His purchase prices were between $10.12 and $18.98, with an estimated average price of $14.6. The impact to his portfolio due to this purchase was 2.54%. His holdings were 23,813,050 shares as of 03/31/2009.
American Express Company is primarily engaged in the business of providing travel related services financial advisory services and international banking services throughout the world. American Express Travel Related Services Company Inc. provides a variety of products and services including global network services the American Express Card the Optima Card and other consumer and corporate lending products stored value products and several others. American Express Company has a market cap of $28.67 billion; its shares were traded at around $24.72 with a P/E ratio of 13.5 and P/S ratio of 1. The dividend yield of American Express Company stocks is 3%. American Express Company had an annual average earning growth of 1.3% over the past 10 years.
Added: The St. Joe Company (JOE, Financial)
Bruce Berkowitz added to his holdings in The St. Joe Company by 64.16%. His purchase prices were between $14.59 and $25.37, with an estimated average price of $20.8. The impact to his portfolio due to this purchase was 2.18%. His holdings were 18,456,326 shares as of 03/31/2009.
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 $2.21 billion; its shares were traded at around $23.86 with and P/S ratio of 8.4. The St. Joe Company had an annual average earning growth of 5.4% over the past 10 years.
Added: Hertz Global Holdings Inc. (HTZ, Financial)
Bruce Berkowitz added to his holdings in Hertz Global Holdings Inc. by 24.96%. His purchase prices were between $2.24 and $6.02, with an estimated average price of $4.3. The impact to his portfolio due to this purchase was 0.61%. His holdings were 42,738,138 shares as of 03/31/2009.
HERTZ GLOBAL HOLDING is the worlds largest general use car rental brand operating from approximately 8100 locations in 147 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 69 major airports in Europe operating both corporate and licensee locations in cities and airports in North America Hertz Global Holdings Inc. has a market cap of $2.33 billion; its shares were traded at around $7.22 with a P/E ratio of 48.1 and P/S ratio of 0.3.
Added: Spirit AeroSystems Holdings Inc. (SPR, Financial)
Bruce Berkowitz added to his holdings in Spirit AeroSystems Holdings Inc. by 21.14%. His purchase prices were between $8.32 and $13.6, with an estimated average price of $11.4. The impact to his portfolio due to this purchase was 0.6%. His holdings were 19,012,064 shares as of 03/31/2009.
SPIRIT AEROSYSTEMS is the world's largest independent supplier of commercial airplane assemblies and components. In addition to its Kansas facility Spirit has operations in Tulsa and McAlester Okla. Prestwick Scotland and Samlesbury England. In the U.S. Spirit's core products include fuselages pylons nacelles and wing components. Additionally Spirit provides aftermarket customer support services including spare parts maintenance/repair/overhaul and fleet support services in North America and Europe. Spirit Europe produces wing components for a host of customers including Airbus. Spirit AeroSystems Holdings Inc. has a market cap of $1.82 billion; its shares were traded at around $13.02 with a P/E ratio of 7.5 and P/S ratio of 0.5.
Reduced: Calumet Specialty Products Partners L.P. (CLMT, Financial)
Bruce Berkowitz reduced to his holdings in Calumet Specialty Products Partners L.P. by 28.43%. His sale prices were between $9.1 and $11.94, with an estimated average price of $10.9. The impact to his portfolio due to this sale was less than 0.01%. Bruce Berkowitz still held 29,200 shares as of 03/31/2009.
Calumet Specialty Products Partners L.P. is a leading independent producer of high-quality specialty hydrocarbon products in North America. Calumet processes crude oil into customized lubricating oils solvents and waxes used in consumer industrial and automotive products. The Company also produces fuel products including gasoline diesel fuel and jet fuel. Calumet is based in Indianapolis Indiana and has three plants located in northwest Louisiana. Calumet Specialty Products Partners L.P. has a market cap of $356.2 million; its shares were traded at around $11.05 with a P/E ratio of 4.5 and P/S ratio of 0.2. The dividend yield of Calumet Specialty Products Partners L.P. stocks is 16.3%.
Reduced: Canadian Natural Resources Ltd. (CNQ, Financial)
Bruce Berkowitz reduced to his holdings in Canadian Natural Resources Ltd. by 87.57%. His sale prices were between $30.81 and $42.51, with an estimated average price of $36.6. The impact to his portfolio due to this sale was -0.81%. Bruce Berkowitz still held 1,329,669 shares as of 03/31/2009.
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 $27.6 billion; its shares were traded at around $51.01 with a P/E ratio of 8.3 and P/S ratio of 1.9. The dividend yield of Canadian Natural Resources Ltd. stocks is 0.9%. Canadian Natural Resources Ltd. had an annual average earning growth of 25.5% over the past 5 years.
Reduced: UnitedHealth Group Inc. (UNH, Financial)
Bruce Berkowitz reduced to his holdings in UnitedHealth Group Inc. by 27.83%. His sale prices were between $17.87 and $28.92, with an estimated average price of $24.5. The impact to his portfolio due to this sale was -1.39%. Bruce Berkowitz still held 13,158,010 shares as of 03/31/2009.
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 $33.79 billion; its shares were traded at around $27.8 with a P/E ratio of 9.2 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 5-star.
Sold Out: Jefferies Group Inc. (JEF, Financial)
Bruce Berkowitz sold out his holdings in Jefferies Group Inc.. His sale prices were between $8.62 and $14.22, with an estimated average price of $12. The impact to his portfolio due to this sale was less than 0.01%.
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 $3.06 billion; its shares were traded at around $18.45 with and P/S ratio of 1.8. Jefferies Group Inc. had an annual average earning growth of 21.9% over the past 10 years.
Sold Out: Berkshire Hathaway Inc. (BRK-B)
Bruce Berkowitz sold out his holdings in Berkshire Hathaway Inc.. His sale prices were between $2327 and $3141, with an estimated average price of $2788.9. The impact to his portfolio due to this sale was less than 0.01%.
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 $40.15 billion; its shares were traded at around $2919.5 with and P/S ratio of 0.4. Berkshire Hathaway Inc. had an annual average earning growth of 1.7% over the past 10 years.
Sold Out: Mercury General Corp. (MCY, Financial)
Bruce Berkowitz sold out his holdings in Mercury General Corp.. His sale prices were between $22.95 and $42.55, with an estimated average price of $32.8. The impact to his portfolio due to this sale was less than 0.01%.
Mercury General Corp. is engaged primarily in writing all risk classifications of automobile insurance in a number of states principallyCalifornia. The company offers automobile policyholders the following types of coverage: bodily injury liability underinsured and uninsured motorist property damage liability comprehensive collision and other hazards specified in the policy. Mercury General Corp. has a market cap of $1.9 billion; its shares were traded at around $34.69 with a P/E ratio of 17.9 and P/S ratio of 0.7. The dividend yield of Mercury General Corp. stocks is 6.7%. Mercury General Corp. had an annual average earning growth of 31.1% over the past 10 years. GuruFocus rated Mercury General Corp. the business predictability rank of 2.5-star.
