13F filing recap · Q4 2014

What did Fairholme Capital Management buy in Q4 2014?

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

$7.30B

Positions

Estimated turnover

13.2%

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

SRSCQSears Canada Inc$135.46Mreported value+14.10M shares SHLDQSears Holdings Corporation$132.44Mreported value+6.41M shares CNQCanadian Natural Resources Limited$15.55Mreported value+503.6K shares

Increased positions

SHLDQSears Holdings Corporation$875.46Mreported value+1.04M shares+4.1%BAC WS ABank of America Corp$87.04Mreported value+5.0K shares+0.0%

Reduced positions

AIGAmerican International Group, Inc.$2.87Breported value-9.03M shares-15.0%BACBank of America Corp$1.69Breported value-3.41M shares-3.5%AIG WSAmerican International Group, Inc.$602.50Mreported value-8.0K shares-0.0%JOEThe St. Joe Company$455.69Mreported value-30.1K shares

Exited positions

LELands’ End, Inc.$18.44Mprior reported value-448.4K shares-100.0%HIG WSThe Hartford Insurance Group, Inc.$16.01Mprior reported value-553.9K shares-100.0%CHKChesapeake Energy Corporation$12.34Mprior reported value-536.9K shares-100.0%LNCLincoln National Corp$2.38Mprior reported value