American International Group Inc (AIG), Bank of America Corp (BAC), and Sears Holdings Corp (SHLD) Among the Top Three Holdings of Fairholme (Fairx) Fund

According to the latest 13F SEC filing of Bruce Berkowitz’s fund, Fairholme (Fairx), American International Group Inc (NYSE:AIG), Bank of America Corp (NYSE:BAC), and Sears Holdings Corp (NASDAQ:SHLD) are the top three share holdings of the company. The fund has a 13F portfolio of $9.9 billion with 1% increase in the quarter. (You can see complete list of Bruce Berkowitz’s holdings here).

American International Group Inc (NYSE:AIG) is the top holding of Fairholme (Fairx) fund with 69, 810, 314 shares and current market value of $3.8 billion. American International Group Inc (NYSE:AIG) reported net attributable income of $3.1 billion with after-tax operating income of $1.25 per share. Major players which have investments in the company include Fairholme (Fairx) ($3.8 billion), Perry Capital ($638 million), and Jana Partners ($598 million).

American International Group (AIG)

Bank of America Corp (NYSE:BAC) comes at number two in terms of value in Fairholme’s portfolio with investments worth $1.5 billion and 98, 432, 215 shares. Bank of America Corp (NYSE:BAC) had a net revenue of $22 billion for the second quarter 2014 and net income of $2.3 billion. Fairholme (Fairx) has the highest investments in the company followed by Fisher Asset Management ($649 million) and Pzena Investment Management ($483 million).

Sears Holdings Corp (NASDAQ:SHLD) is the third largest holding of Fairholme’s hedge fund with investments worth $985 million and 24, 672, 823 shares. Sears Holdings Corp (NASDAQ:SHLD) announced second quarter 2014 financial results with net loss of $573 million and revenue of $8 billion. Adjusted EBITDA for the quarter was $313 million. Esl Investments have a $1, 056 million stake in the company followed by Fairholme (Fairx) and Horizon Asset Management with investment of $232 million.

This article has been written by Prakash Pandey and edited by Serkan Unal.

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