Bruce Berkowitz of Fairholme Capital Management is coming off a strong 2010 and an impressive final quarter of the year -- a three-month period in which his portfolio increased in value by more than $4 billion.
What changed? According to regulatory documents filed Feb. 14, Fairholme held 24 positions at year end, two of which were in Berkshire Hathaway (BRK-B), up from 21 at Sept. 30, and the value of its holdings swelled to $15.8 billion from $11.2 billion.
Several existing positions, meanwhile, were altered. Among the changes, Fairholme increased its stake in AIG (AIG), Bank of America (BAC) and St. Joe (JOE), where Berkowitz led an effort to remake the board (he's now chairman). Goldman Sachs (GS) and Humana (HUM) were among the holdings that were trimmed during the quarter.
Here are Fairholme's largest stock holdings as of Dec. 31:
• AIG (AIG)
• General Growth Properties (GGP)
• Bank of America (BAC)
• Citigroup (C)
• Sears Holdings (SHLD)
• Morgan Stanley (MS)
• Goldman Sachs (GS)
• CIT Group (CIT)
• Regions Financial (RF)
• St. Joe (JOE)
See the full SEC filing for Bruce Berkowitz's portfolio.