13F filing recap · Q3 2004

What did Fairholme Capital Management buy in Q3 2004?

Reported stock-position changes between this filing and the previous one. US-listed stocks across every Fairholme account, including accounts that belong to no fund below.

Stock value

$888.04M

Positions

Estimated turnover

25.0%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

New positions

MCIPMci Inc$153.75Mreported value+9.18M shares

Increased positions

LUKLeucadia National Corporation$227.32Mreported value+28.8K shares+0.7%BRK.ABerkshire Hathaway Inc$173.56Mreported value+4 shares+0.2%WTMWhite Mountains Insurance Group, Ltd$50.21Mreported value+150 shares+0.2%DUKDuke Energy Corp$5.44Mreported value+15.0K shares

Reduced positions

BRK.BBerkshire Hathaway Inc$88.31Mreported value-268 shares-0.9%MCYMercury General Corp$53.35Mreported value-46.4K shares-4.4%MKLMarkel Group Inc.$21.81Mreported value-76.3K shares-51.9%YAlleghany Corporation$16.48Mreported value-48.2K shares

Exited positions

CBHCommerce Bancorp, Inc.$1.91Mprior reported value-34.8K shares-100.0%MOAltria Group, Inc.$576.0Kprior reported value-11.5K shares-100.0%PLXPlains Resources Inc$368.0Kprior reported value-21.7K shares-100.0%