Add First American Corp. (FAF) to my watch-list

Today I find a old news, "Highfields Capital Accumulates 6.7% Stake in First American (FAF)", published on 2007/5/14.

In a 13G filing this afternoon on First American Corp. (NYSE: FAF), Highfields Capital disclosed a 6.7% stake (6.5 million shares) in the company. The firm did not show a stake in FAF for the quarter ended 12/31/06.

After a little survey, I find out that John Osterweis, Osterweis Capital recommended First American Corp. (NYSE: FAF) in Value Investor Insight 2007/01 issue. There are also some value funds on the top 20 institutional shareholder list. (listed below)

Since John Osterweis recommended, the price has up 28+% from 42 to 54 now. It seems like a little too late to get in now, better wait for better price to buy. I will add First American Corp.to my watch-list.

Top 20 Institutional Shareholders (abridged)
Name Share Held % of Shares Held
Highfields Capital Management LP 6.5M 6.71%
Glenview Capital Management LLC 5.2M 5.38%
Pzena Investment Management LLC 3.9M 4.07%
Maverick Capital Ltd. 1.5M 1.55%
RS Investment Management Co. LLC 1.2M 1.23%
Third Avenue Management LLC 1.0M 1.03%

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