13F filing recap · Q3 2015

What did Fairholme Capital Management buy in Q3 2015?

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

$3.47B

Positions

Estimated turnover

64.7%

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

CNQCanadian Natural Resources Limited$188.87Mreported value+9.71M shares CCitigroup Inc$149.33Mreported value+3.01M shares SRGSeritage Growth Properties$125.43Mreported value+3.37M shares IBMInternational Business Machines Corp$109.36Mreported value+754.4K shares DNOWDnow Inc.$99.94Mreported value+6.75M shares MRCMrc Global Inc$59.45Mreported value+5.33M shares LELands’ End, Inc.$50.33Mreported value+1.86M shares ASAAsa Gold & Precious Metals Ltd$4.52Mreported value+578.0K shares SHOSSears Hometown and Outlet Stores, Inc.$3.28Mreported value+409.8K shares

Increased positions

SHLDQSears Holdings Corporation$602.29Mreported value+20.7K shares+0.1%SHLDQSears Holdings Corporation$117.89Mreported value+315.8K shares+4.9%SRSCQSears Canada Inc$116.72Mreported value+1.82M shares+11.3%BAC WS ABank of America Corp$80.38Mreported value+79.4K shares

Reduced positions

AIG WSAmerican International Group, Inc.$535.58Mreported value-853.4K shares-3.5%JOEThe St. Joe Company$467.81Mreported value-170.5K shares-0.7%BACBank of America Corp$428.81Mreported value-47.96M shares-63.5%LUKLeucadia National Corporation$206.83Mreported value-2.10M shares

Exited positions

JPMJPMorgan Chase & Co$17.48Mprior reported value-706.3K shares-100.0%WFC WSWells Fargo & Company/mn$16.85Mprior reported value-749.0K shares-100.0%LNC.WSLincoln National Corp$9.26Mprior reported value-181.6K shares-100.0%