| Quarter Ending 03/31/2009 | Back to the Enlightened American Website | |||||||||
| Bruce Berkowitz (Fairholme Capital) | ||||||||||
| ***** NEW POSITIONS TAKEN | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| N/A | N/A | |||||||||
| ***** SOLD OFF | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| N/A | N/A | BERKSHIRE HATHAWAY INC DEL CL | 121 | $3,214.88 | $389,000 | |||||
| N/A | N/A | DISH NETWORK CORP CL A | 3,115,452 | $11.09 | $34,550,000 | |||||
| N/A | N/A | JEFFERIES GROUP INC NEW COM | 4,317,644 | $14.06 | $60,706,000 | |||||
| N/A | N/A | MERCURY GENL CORP NEW COM | 5,150 | $46.02 | $237,000 | |||||
| N/A | N/A | MERITOR SVGS BK PA COM | 43,645 | $2.50 | $109,000 | |||||
| N/A | N/A | MUELLER WTR PRODS INC COM SER | 6,958,400 | $8.44 | $58,729,000 | |||||
| ***** HOLD POSITIONS | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| 0.00% | -23.30% | AMERICREDIT CORP COM | 32,307,322 | 32,307,322 | $5.86 | $7.64 | $189,321,000 | $246,828,000 | ||
| 0.00% | -2.91% | COCA COLA CO COM | 12,900 | 12,900 | $43.95 | $45.27 | $567,000 | $584,000 | ||
| 0.00% | 5.11% | DAILY JOURNAL CORP COM | 18,850 | 18,850 | $36.02 | $34.27 | $679,000 | $646,000 | ||
| 0.00% | -4.91% | MARKEL CORP COM | 750 | 750 | $284.00 | $298.67 | $213,000 | $224,000 | ||
| 0.00% | -14.29% | PENN WEST ENERGY TR TR UNIT | 15,129 | 15,129 | $9.52 | $11.10 | $144,000 | $168,000 | ||
| 0.00% | -48.08% | TAL INTL GROUP INC COM | 2,436,697 | 2,436,697 | $7.32 | $14.10 | $17,837,000 | $34,357,000 | ||
| 0.00% | -4.26% | WESCO FINL CORP COM | 980 | 980 | $275.51 | $287.76 | $270,000 | $282,000 | ||
| 0.00% | -35.67% | WHITE MTNS INS GROUP LTD COM | 7,274 | 7,274 | $171.84 | $267.12 | $1,250,000 | $1,943,000 | ||
| ***** AUGMENTED POSITIONS | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| 75.92% | -26.52% | 10,276,600 | AMERICAN EXPRESS CO COM | 23,813,050 | 13,536,450 | $13.63 | $18.55 | $324,572,000 | $251,101,000 | |
| 4.25% | -42.05% | 801 | HSBC HLDGS PLC SPON ADR NEW | 19,648 | 18,847 | $28.20 | $48.65 | $554,000 | $917,000 | |
| 24.96% | -22.49% | 8,537,309 | HERTZ GLOBAL HOLDINGS INC COM | 42,738,138 | 34,200,829 | $3.93 | $5.07 | $167,961,000 | $173,398,000 | |
| 1.56% | -24.80% | 280,081 | LEUCADIA NATL CORP COM | 18,249,025 | 17,968,944 | $14.89 | $19.80 | $271,728,000 | $355,785,000 | |
| 64.16% | -31.17% | 7,213,650 | ST JOE CO COM | 18,456,326 | 11,242,676 | $16.74 | $24.32 | $308,959,000 | $273,421,000 | |
| 12.03% | 17.60% | 1,539,199 | SEARS HLDGS CORP COM | 14,338,939 | 12,799,740 | $45.71 | $38.87 | $655,433,000 | $497,526,000 | |
| 21.14% | -1.97% | 3,318,075 | SPIRIT AEROSYSTEMS HLDGS INC C | 19,012,064 | 15,693,989 | $9.97 | $10.17 | $189,550,000 | $159,607,000 | |
| ***** REDUCED POSITIONS | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| -20.00% | -10.28% | -3 | BERKSHIRE HATHAWAY INC DEL CL | 12 | 15 | $86,666.67 | $96,600.00 | $1,040,000 | $1,449,000 | |
| -3.52% | -16.62% | -318,101 | BOEING CO COM | 8,722,727 | 9,040,828 | $35.58 | $42.67 | $310,355,000 | $385,772,000 | |
| -17.81% | -5.75% | -8,600 | BRISTOL MYERS SQUIBB CO COM | 39,700 | 48,300 | $21.91 | $23.25 | $870,000 | $1,123,000 | |
| -28.43% | 24.46% | -11,600 | CALUMET SPECIALTY PRODS PTNRS | 29,200 | 40,800 | $10.89 | $8.75 | $318,000 | $357,000 | |
| -87.57% | -3.55% | -9,370,125 | CANADIAN NAT RES LTD COM | 1,329,670 | 10,699,795 | $38.56 | $39.98 | $51,272,000 | $427,778,000 | |
| -1.81% | -13.78% | -369,932 | FOREST LABS INC COM | 20,067,400 | 20,437,332 | $21.96 | $25.47 | $440,680,000 | $520,538,000 | |
| -8.78% | -27.78% | -200,000 | GENERAL DYNAMICS CORP COM | 2,078,100 | 2,278,100 | $41.59 | $57.59 | $86,428,000 | $131,196,000 | |
| -6.98% | -7.68% | -770 | GYRODYNE CO AMER INC COM | 10,256 | 11,026 | $23.11 | $25.03 | $237,000 | $276,000 | |
| -10.37% | -9.09% | -18,872 | HOMEFED CORP COM PAR $.01 | 163,056 | 181,928 | $15.00 | $16.50 | $2,446,000 | $3,002,000 | |
| -17.34% | -30.04% | -1,418,000 | HUMANA INC COM | 6,757,600 | 8,175,600 | $26.08 | $37.28 | $176,238,000 | $304,786,000 | |
| -18.42% | -3.11% | -1,653,102 | NORTHROP GRUMMAN CORP COM | 7,319,676 | 8,972,778 | $43.64 | $45.04 | $319,431,000 | $404,134,000 | |
| -1.40% | -23.09% | -1,253,633 | PFIZER INC COM | 88,241,991 | 89,495,624 | $13.62 | $17.71 | $1,201,856,000 | $1,584,968,000 | |
| -73.56% | 1476.36% | -115,200 | SEARS HOLDINGCLL OPT 60.0000 | 41,400 | 156,600 | $45.70 | $2.90 | $1,892,000 | $454,000 | |
| -3.43% | -53.84% | -364,105 | UNITED RENTALS INC COM | 10,240,205 | 10,604,310 | $4.21 | $9.12 | $43,111,000 | $96,711,000 | |
| -27.83% | -21.32% | -5,073,868 | UNITEDHEALTH GROUP INC COM | 13,158,010 | 18,231,878 | $20.93 | $26.60 | $275,397,000 | $484,968,000 | |
| -2.15% | -12.52% | -178,994 | WELLCARE HEALTH PLANS INC COM | 8,134,413 | 8,313,407 | $11.25 | $12.86 | $91,512,000 | $106,910,000 | |
| -16.27% | -9.87% | -1,954,433 | WELLPOINT INC COM | 10,061,624 | 12,016,057 | $37.97 | $42.13 | $382,040,000 | $506,236,000 | |
| -3.67% | -36.25% | -46,038 | WINTHROP RLTY TR SH BEN INT | 1,208,678 | 1,254,716 | $6.91 | $10.84 | $8,352,000 | $13,601,000 | |