13F filing recap · Q1 2011

What did Fairholme Capital Management buy in Q1 2011?

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

$14.44B

Positions

Estimated turnover

34.8%

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

BAMBrookfield Corporation$892.65Mreported value+27.50M shares CSCOCisco Systems, Inc.$614.29Mreported value+35.82M shares AIG WSAmerican International Group, Inc.$264.03Mreported value+23.72M shares TELFYTelefonica S.a.$20.62Mreported value+817.5K shares LLYEli Lilly & Co$7.35Mreported value+209.0K shares BMYBristol-Myers Squibb Company$7.32Mreported value+277.0K shares GSKGsk Plc$7.30Mreported value+190.0K shares AZNAstrazeneca Plc$7.15Mreported value+155.0K shares

Increased positions

SHLDQSears Holdings Corporation$1.35Breported value+1.40M shares+9.4%BACBank of America Corp$1.24Breported value+509.2K shares+0.6%CCitigroup Inc$1.14Breported value+21.31M shares+9.0%MSMorgan Stanley$1.06Breported value+308.9K shares

Reduced positions

AIGAmerican International Group, Inc.$1.55Breported value-88.0K shares-0.2%RFRegions Financial Corporation$900.50Mreported value-421.9K shares-0.3%CITCit Group Inc$845.15Mreported value-134.1K shares-0.7%LUKLeucadia National Corporation$706.91Mreported value-177.0K shares

Exited positions

GGPGeneral Growth Properties, Inc.$1.76Bprior reported value-113.60M shares-100.0%GEGeneral Electric Company$291.78Mprior reported value-15.95M shares-100.0%WCGWellcare Health Plans Inc$107.88Mprior reported value-3.57M shares-100.0%HUMHumana Inc$454.0Kprior reported value-8.3K shares