13F filing recap · Q2 2006

What did Fairholme Capital Management buy in Q2 2006?

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

$2.65B

Positions

Estimated turnover

24.4%

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

PDPhelps Dodge Corp$39.58Mreported value+481.7K shares EMNEastman Chemical Co$5.25Mreported value+97.3K shares

Increased positions

BRK.ABerkshire Hathaway Inc$576.44Mreported value+1.5K shares+31.5%CNQCanadian Natural Resources Limited$473.85Mreported value+2.80M shares+48.6%ECHOEchostar Corporation$405.99Mreported value+295.7K shares+2.3%LUKLeucadia National Corporation$193.14Mreported value+812.0K shares

Reduced positions

SHLDQSears Holdings Corporation$154.20Mreported value-84.8K shares-7.8%BRK.BBerkshire Hathaway Inc$147.66Mreported value-12.8K shares-20.9%NLYAnnaly Capital Management, Inc.$64.49Mreported value-455.3K shares-8.3%SAFTSafety Insurance Group Inc$47.18Mreported value-246.5K shares

Exited positions

MDCM.d.c. Holdings, Inc.$46.30Mprior reported value-720.0K shares-100.0%ETDEthan Allen Interiors Inc.$13.26Mprior reported value-315.6K shares-100.0%WMBWilliams Companies, Inc.$9.20Mprior reported value-430.0K shares-100.0%CGICommerce Group Inc$8.01Mprior reported value-151.6K shares