Bruce Berkowitz
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average rating: 3.89 / 27 ratings
DESCRIPTION:

Date updated:05-20-2007

New positions: SE, FCX
Sold out of: TWMC, SYX, OKS, MU, KALU, PD
Top increased positions: BRK-A, CNQ, LUK, EMN, MWA-B
Top decreased positions: CLMT

Note: As of 4-4-07, Berkowitz increased his position and now has an 11% stake in MWA.


Bruce Berkowitz is the founder of the Fairholme Fund (FAIRX). Fairholme believes in a focused approach to investing. Its portfolio is a focused, low-turnover portfolio and is designed that way as Berkowitz believes the more companies you own the more difficult it is to understand all of them.

According to its website, “The Fairholme Fund's preferred investment strategy is to become a "silent partner" with exceptional owner-managers who have a "paper trail" of financial success and a demonstrated history of honesty and integrity. When we find a company that generates free cash with a low stock price, we expect investment performance to be exceptional.”

Berkowitz has been nominated by Morningstar as Domestic-Stock Manager of the Year for 2006. Morningstar said, “This year, performance has been driven by investments from both the main and secondary strategy. In the great managers camp there's top holding Berkshire Hathaway (BRK.A), Sears (SHLD ); in the special situations fold there's Phelps Dodge (PD). Fairholme bought Phelps Dodge because its planned acquisitions had depressed the share price. However, the hunter became prey, and the copper giant agreed to be bought by Freeport-McMoRan Copper & Gold."


As of 3/31/07

symbol name last price % change open
  • +
  • BRK-A
    Berkshire Hath Hl
  • $123500.1016
  • -0.40%
  • $125300.00

21.77% of portfolio

People owning BRK-A also tend to own: COFEBAYHDJNJLINTAOSTKPFE

TheStreet.com Rating: No Rating What is this?

  • +
  • CNQ
    Canadian Nat Res
  • $73.64
  • -2.00%
  • $74.65

20.37% of portfolio

People owning CNQ also tend to own: AAPLBRCMBTUCCJCTRPGGGOOG

TheStreet.com Rating: B What is this?

  • +
  • DISH
    Dish Network Corp
  • $33.32
  • +5.58%
  • $32.19

12.08% of portfolio

People owning DISH also tend to own: AOBCBEEBAYECAECOLGLDHW

TheStreet.com Rating: C+ What is this?

  • +
  • PWE
    Penn West Energy
  • $32.40
  • +0.06%
  • $32.64

7.41% of portfolio

People owning PWE also tend to own: BRK-ABRK-BCCLMTCNQDJCODUK

TheStreet.com Rating: D+ What is this?

  • +
  • MHK
    Mohawk Inds Inc
  • $77.18
  • +0.98%
  • $76.70

5.64% of portfolio

People owning MHK also tend to own: BNIBRK-ABRK-BBRNCCHEUY.PKDBAFAIRX

TheStreet.com Rating: C+ What is this?

  • +
  • LUK
    Leucadia Natl Cp
  • $53.65
  • -0.13%
  • $53.95

5.24% of portfolio

People owning LUK also tend to own: AETBZHCGIFBPHOVKBHMDC

TheStreet.com Rating: A- What is this?

  • +
  • EMN
    Eastman Chem Co
  • $75.81
  • +3.17%
  • $73.69

5.14% of portfolio

People owning EMN also tend to own: ISISTGCTRCAAAPLAIGCARCVX

TheStreet.com Rating: A What is this?

  • +
  • BRK-B
    Berkshire Hath Hl
  • $4119.50
  • -0.69%
  • $4174.7202

3.71% of portfolio

People owning BRK-B also tend to own: AEGAZINGINTCOPA.VORCLSDA

TheStreet.com Rating: No Rating What is this?

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