Bruce Berkowitz Shows 3 New Stock Positions In Q4

Bruce Berkowitz (Trades, Portfolio) released his fourth-quarter letter and portfolio update Wednesday, reporting he purchased three new stocks.
Berkowitz’s Fairholme Fund (Trades, Portfolio) fell 11.5% during 2015, versus a 1.38% gain for the S&P 500 Index, as some of the top names in his concentrated portfolio – St. Joe (NYSE:JOE), Sears (NASDAQ:SHLD) and Fannie Mae (FNMAS) – struggled. The investor’s forays into companies trading at distressed or out-of-favor market prices have often led to broad swings in performance in the past. In his worst year, 2011, Berkowitz lost 32.4%, and followed in 2012 with a 35.8% gain.