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Tiziano Frateschi
Tiziano Frateschi
Articles (1934)  | Author's Website |

Fairholme Fund's Largest Sales of 4th Quarter

Sears Holdings, St. Joe on the list

Fairholme Fund (Trades, Portfolio), led by guru Bruce Berkowitz, sold shares in the following stocks during the fourth quarter.

The stake of Fannie Mae Pfd Shs Ser S (FNMAS) was reduced by 23.01% with an impact of -6.87% on the portfolio.

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The Federal Home Loan Mortgage Corp 8 3/8 (FMCKJ)’s position was cut by 31.07% with an impact of -5.97% on the portfolio.

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The holding of Fannie Mae Var Rate Non-Cum Pfd (FNMFN) was almost closed after a reduction of 85.19% and an impact of -1.63% on the portfolio.

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The Federal Home Loan Mortgage Corp 5.57% (FMCKM)’s stake was trimmed by 78.25%. The transaction had an impact of -1.56% on the portfolio.

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The guru closed his holding of Federal Home Loan Mortgage Corp Variab (FMCCM). The trade had an impact of -1.04% on the portfolio.

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The guru reduced his stake in Fannie Mae Pfd Shs Ser P (FNMAH) by 69.54%, impacting the portfolio by -0.88%.

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The fund reduced his holding of The St. Joe Co. (JOE) by 1.75%, impacting the portfolio by -0.55%.

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The company operates residential real estate and commercial real estate properties and resorts. It has a market cap of $1.21 billion and an enterprise value of $1.14 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity (ROE) of 3.76% and return on assets (ROA) of 2.40% are underperforming 65% of the companies in the Global Real Estate - General industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 1.34 is above the industry median of 0.35.

Bruce Berkowitz (Trades, Portfolio) is the largest shareholder of the company among the gurus with 41.8% of outstanding shares followed by Fairholme Fund (Trades, Portfolio) with 34.27%, Charles Brandes (Trades, Portfolio) with 2.76% and Chuck Royce (Trades, Portfolio) with 0.43%.

The stake of Sears Holdings Corp. (SHLD) was reduced by 6.63%. The trade had an impact of -0.54% on the portfolio.

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Sears is a retailer that integrates digital and physical shopping experiences for consumers. It has a market cap of $252.89 billion and an enterprise value of $4.7 billion.

GuruFocus gives the company a profitability and growth rating of 2 out of 10. The ROE of -12.78% and ROA of -30.80% are underperforming 92% of the companies in the Global Department Stores industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.04 is below the industry median of 0.99.

The largest shareholder of the company among the gurus is ESL Partners LP with 59.54% of outstanding shares followed by Bruce Berkowitz with 19.79% and Edward Lampert (Trades, Portfolio) with 19.08%.

The Seritage Growth Properties Class A (SRG)’s position was cut by 1.75%. The transaction had an impact of -0.13% on the portfolio.

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Seritage is a self-administered, self-managed REIT that operates in the real estate property business through its investment in Seritage Growth Properties LP. The company has a market cap of $2.29 billion and an enterprise value of $3.98 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. The ROE of -5.54% and ROA of -1.67% are underperforming 96% of the companies in the Global REIT - Retail industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.08 is above the industry median of 0.06.

Berkowitz is the largest shareholder of the company among the gurus with 6.72% of outstanding shares followed by Hotchkis & Wiley with 5.06%.

The guru reduced his stake in Fannie Mae Variable Rate NonCum (FNMAO) by 50.04%, impacting the portfolio by -0.09%.

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The guru exited his Sears Canada Inc. (SCC.Canada) holding, impacting the portfolio by -0.06%.

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The guru sold out his holding of Sears Hometown and Outlet Stores Inc. (SHOS). The trade had an impact of -0.04% on the portfolio.

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The pharmaceutical company has a market cap of $52.22 million and an enterprise value of $157.43 million.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The ROE of -42.54% and ROA of -22.76% are underperforming 98% of the companies in the Global Department Stores industry. Financial strength is rated 5 out of 10. The cash-debt ratio of 0.12 is below the industry median of 0.99.

The largest shareholder of the company among the gurus is ESL Partners LP with 58.35% of outstanding shares followed by Lampert with 21.02%, Francis Chou (Trades, Portfolio) with 5.82% and Jim Simons (Trades, Portfolio) with 1.63%.

Disclosure: I do not own any shares of any stocks mentioned in this article.

About the author:

Tiziano Frateschi
You can read about me on www.theextraincome.info, which gives suggestions on position trading.

Visit Tiziano Frateschi's Website


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