Foundation Resource Management

Foundation Resource Management as of Dec. 31, 2011

Portfolio Holdings for Foundation Resource Management

Foundation Resource Management holds 70 positions in its portfolio as reported in the December 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
ConocoPhillips (COP) 7.3 $51M 696k 72.87
Pfizer (PFE) 7.0 $48M 2.2M 21.64
Newmont Mining Corporation (NEM) 6.6 $46M 761k 60.01
Teck Resources Ltd cl b (TECK) 5.3 $37M 1.1M 35.19
Merck & Co (MRK) 4.8 $33M 883k 37.70
Dow Chemical Company 4.4 $30M 1.1M 28.76
Berkshire Hathaway (BRK.B) 4.2 $29M 380k 76.30
Seagate Technology 4.0 $28M 1.7M 16.40
Eli Lilly & Co. (LLY) 3.9 $27M 652k 41.56
Chevron Corporation (CVX) 3.3 $23M 214k 106.40
Cenovus Energy (CVE) 3.1 $22M 653k 33.20
Valero Energy Corporation (VLO) 3.0 $21M 988k 21.05
Leucadia National 2.9 $20M 893k 22.74
Overseas Shipholding 2.8 $19M 1.7M 10.93
Forestar 2.7 $19M 1.2M 15.13
Koninklijke Philips Electronics NV (PHG) 2.5 $17M 819k 20.95
Canadian Pacific Railway 2.5 $17M 252k 67.67
Sanofi-Aventis SA (SNY) 2.5 $17M 464k 36.54
Encana Corp 2.2 $15M 822k 18.53
Goodyear Tire & Rubber Company (GT) 2.1 $15M 1.0M 14.17
Transocean (RIG) 1.8 $13M 325k 38.39
Noble Energy 1.6 $11M 117k 94.39
Raytheon Company 1.5 $10M 211k 48.38
Permian Basin Royalty Trust (PBT) 1.4 $9.5M 467k 20.37
Gannett 1.4 $9.5M 707k 13.37
Barrick Gold Corp (GOLD) 1.3 $9.3M 206k 45.25
Exelis 1.1 $7.4M 822k 9.05
Precision Drilling Corporation 1.0 $7.0M 682k 10.26
Nokia Corporation (NOK) 0.9 $6.2M 1.3M 4.82
Freeport-McMoRan Copper & Gold (FCX) 0.9 $6.1M 165k 36.79
Loews Corporation (L) 0.8 $5.7M 152k 37.65
Baker Hughes Incorporated 0.8 $5.5M 113k 48.64
Devon Energy Corporation (DVN) 0.7 $4.9M 79k 62.00
Weyerhaeuser Company (WY) 0.7 $4.9M 264k 18.67
Thompson Creek Metals 0.7 $4.9M 703k 6.96
Alcoa 0.7 $4.8M 555k 8.65
Mfc Industrial 0.6 $3.9M 556k 7.01
Boeing Company (BA) 0.6 $3.8M 52k 73.35
Tsakos Energy Navigation 0.5 $3.4M 719k 4.78
Tecumseh Products Company 0.5 $3.5M 735k 4.70
San Juan Basin Royalty Trust (SJT) 0.5 $3.3M 143k 22.76
Northrop Grumman Corporation (NOC) 0.4 $2.7M 46k 58.48
Exxon Mobil Corporation (XOM) 0.3 $2.1M 24k 84.77
MEMC Electronic Materials 0.3 $2.1M 532k 3.94
Templeton Dragon Fund (TDF) 0.2 $1.7M 69k 25.45
Twin Disc, Incorporated (TWIN) 0.2 $1.4M 39k 36.32
Simmons First National Corporation (SFNC) 0.2 $1.4M 53k 27.19
Diamond Offshore Drilling 0.2 $1.3M 24k 55.28
Ford Motor Company (F) 0.2 $1.2M 108k 10.76
ProLogis 0.1 $1.1M 37k 28.60
Travelers Companies (TRV) 0.1 $786k 13k 59.18
Ace Limited Cmn 0.1 $627k 8.9k 70.10
Imperial Oil (IMO) 0.1 $592k 13k 44.49
Marathon Oil Corporation (MRO) 0.1 $657k 22k 29.27
Steelcase (SCS) 0.1 $521k 70k 7.46
Eastman Chemical Company (EMN) 0.1 $551k 14k 39.08
Berkshire Hathaway (BRK.A) 0.1 $574k 5.00 114800.00
Wal-Mart Stores (WMT) 0.1 $516k 8.6k 59.72
BancorpSouth 0.1 $489k 44k 11.01
Tyson Foods (TSN) 0.1 $435k 21k 20.65
International Business Machines (IBM) 0.1 $440k 2.4k 184.02
Murphy Oil Corporation (MUR) 0.1 $334k 6.0k 55.67
BP Prudhoe Bay Royalty Trust (BPT) 0.1 $342k 3.0k 114.00
United Technologies Corporation 0.0 $265k 3.6k 73.12
Regency Energy Partners 0.0 $249k 10k 24.90
Schlumberger (SLB) 0.0 $221k 3.2k 68.40
Citizens Holding Company (CIZN) 0.0 $202k 12k 17.50
Pilgrim's Pride Corporation (PPC) 0.0 $127k 22k 5.78
Regions Financial Corporation (RF) 0.0 $46k 11k 4.29
General Maritime Corporation 0.0 $15k 1.5M 0.01