Berkowitz’s Fairholme Fund picks up more shares of Fannie, Freddie

Fairholme Fund

by Joe Light | The Wall Street Journal

The Fairholme Fund, a mutual fund run by stock picker and sometimes activist Bruce

Fairholme Fund
Bruce R. Berkowitz, managing member and founder of Fairholme Capital Management LLC

Berkowitz, released its annual report over the weekend, disclosing that the manager picked up nearly 5 million common shares of mortgage-finance companies Fannie Mae FNMA -1.74% and Freddie Mac FMCC -0.46%.

Mr. Berkowitz has been one of the most outspoken investors in the companies’ shares and is a plaintiff in lawsuits against the federal government for its handling of the two companies.

According to the annual report, Fairholme bought nearly 3.1 million shares of Freddie Mac and more than 1.8 million shares of Fannie Mae between August 31 and November 30 last year. Because the share prices of Fannie and Freddie fell sharply during that period, the purchases maintained the fund’s weighting to the two companies at about 1.1%.

Continued

Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

February 2015
M T W T F S S
 1
2345678
9101112131415
16171819202122
232425262728