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).
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.