SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. )
Humana Inc.
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(Name of Issuer)
Common Stock, $0.16 2/3 par value
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(Title of Class of Securities)
444859102
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(CUSIP Number)
December 31, 2009
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[x] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[_] Rule 13d-1(d)
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(1) The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
CUSIP No. 444859102
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Fairholme Capital Management, L.L.C.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [x]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
14,052,900
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
15,879,600
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,879,600
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.4%
12. TYPE OF REPORTING PERSON*
IA
CUSIP No. 444859102
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Bruce R. Berkowitz
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [x]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
14,052,900
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
15,879,600
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,879,600
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.4%
12. TYPE OF REPORTING PERSON*
IN, HC
CUSIP No. 444859102
------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Fairholme Funds, Inc.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [x]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5. SOLE VOTING POWER
0
6. SHARED VOTING POWER
12,831,600
7. SOLE DISPOSITIVE POWER
0
8. SHARED DISPOSITIVE POWER
12,831,600
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12,831,600
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.6%
12. TYPE OF REPORTING PERSON*
IV
CUSIP No. 444859102
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Item 1(a). Name of Issuer:
Humana Inc.
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Item 1(b). Address of Issuer's Principal Executive Offices:
500 West Main Street, Louisville, Kentucky 40202
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Item 2(a). Name of Person Filing:
Fairholme Capital Management, L.L.C.
Bruce R. Berkowitz
Fairholme Funds, Inc.
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Item 2(b). Address of Principal Business Office, or if None, Residence:
Fairholme Capital Management, L.L.C.
4400 Biscayne Boulevard, 9th Floor
Miami, FL 33137
Bruce R. Berkowitz
c/o Fairholme Capital Management, L.L.C.
4400 Biscayne Boulevard, 9th Floor
Miami, FL 33137
Fairholme Funds, Inc.
c/o Fairholme Capital Management, L.L.C.
4400 Biscayne Boulevard, 9th Floor
Miami, FL 33137
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Item 2(c). Citizenship:
Fairholme Capital Management, L.L.C. - Delaware
Bruce R. Berkowitz - United States of America
Fairholme Funds, Inc. - Maryland
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Item 2(d). Title of Class of Securities:
Common Stock, $0.16 2/3 par value
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Item 2(e). CUSIP Number:
444859102
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Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b)
or (c), Check Whether the Person Filing is a:
(a) [_] Broker or dealer registered under Section 15 of the Exchange Act.
(b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange
Act.
(d) [x] Investment company registered under Section 8 of the Investment
Company Act.
(e) [x] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) [_] An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
(g) [x] A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) [_] A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act;
(i) [_] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act;
(j) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
Item 4. Ownership.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
15,879,600 shares of Common Stock of Humana Inc. are owned, in the aggregate, by
various investment vehicles managed by Fairholme Capital Management, L.L.C.
("FCM") of which 12,831,600 shares are owned by Fairholme Funds, Inc. Because
Mr.Bruce Berkowitz, in his capacity as the Managing Member of FCM or as
President of Fairholme Funds, Inc., has voting or dispositive power over all
shares beneficially owned by FCM, he is deemed to have beneficial ownership of
all such shares so reported herein.
While the advisory relationship causes attribution to Mr.Bruce Berkowitz,
Fairholme Funds, Inc. or FCM of certain indicia of beneficial ownership for the
limited purpose of this Schedule 13G, Mr. Berkowitz, Fairholme Funds, Inc. and
FCM hereby disclaim ownership of these shares for purposes of interpretations
under the Internal Revenue Code of 1986, as amended, or for any other purpose,
except to the extent of their pecuniary interest.
(a) Amount beneficially owned:
Fairholme Capital Management, L.L.C.: 15,879,600
Bruce R. Berkowitz: 15,879,600
Fairholme Funds, Inc.: 12,831,600
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(b) Percent of class:
Fairholme Capital Management, L.L.C.: 9.4%
Bruce R. Berkowitz: 9.4%
Fairholme Funds, Inc.: 7.6%
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(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
Fairholme Capital Management, L.L.C.: 0
Bruce R. Berkowitz: 0
Fairholme Funds, Inc.: 0
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(ii) Shared power to vote or to direct the vote
Fairholme Capital Management, L.L.C.: 14,052,900
Bruce R. Berkowitz: 14,052,900
Fairholme Funds, Inc.: 12,831,600
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(iii) Sole power to dispose or to direct the disposition of
Fairholme Capital Management, L.L.C.: 0
Bruce R. Berkowitz: 0
Fairholme Funds, Inc.: 0
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(iv) Shared power to dispose or to direct the disposition of
Fairholme Capital Management, L.L.C.: 15,879,600
Bruce R. Berkowitz: 15,879,600
Fairholme Funds, Inc.: 12,831,600
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Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities check the following [ ].
N/A
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Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, such
securities, a statement to that effect should be included in response to this
item and, if such interest relates to more than five percent of the class, such
person should be identified. A listing of the shareholders of an investment
company registered under the Investment Company Act of 1940 or the beneficiaries
of employee benefit plan, pension fund or endowment fund is not required.
N/A
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Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company or Control
Person.
If a parent holding company or Control person has filed this schedule,
pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an
exhibit stating the identity and the Item 3 classification of the relevant
subsidiary. If a parent holding company or control person has filed this
schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating
the identification of the relevant subsidiary.
N/A
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Item 8. Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to s.240.13d-1(b)(1)(ii)(J),
so indicate under Item 3(j) and attach an exhibit stating the identity and Item
3 classification of each member of the group. If a group has filed this schedule
pursuant to s.240.13d-1(c) or s.240.13d-1(d), attach an exhibit stating the
identity of each member of the group.
N/A
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Item 9. Notice of Dissolution of Group.
Notice of dissolution of a group may be furnished as an exhibit stating the
date of the dissolution and that all further filings with respect to
transactions in the security reported on will be filed, if required, by members
of the group, in their individual capacity. See Item 5.
N/A
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Item 10. Certifications.
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired and are held in the ordinary
course of business and were not acquired and are not held for the purpose of or
with the effect of changing or influencing the control of the issuer of the
securities and were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
February 16, 2010
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(Date)
Fairholme Capital Management, L.L.C.*
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/s/ Kathryn Battistella (Attorney-in-fact)
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Name: Kathryn Battistella
Bruce R. Berkowitz*
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/s/ Kathryn Battistella (Attorney-in-fact)
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Name: Kathryn Battistella
Fairholme Funds, Inc.
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By: Fairholme Capital Management, L.L.C.
Investment Manager
/s/ Kathryn Battistella (Attorney-in-fact)
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Name: Kathryn Battistella
* The Reporting Persons disclaim beneficial ownership in the securities reported
herein, except to the extent of his or its pecuniary interest therein.
Exhibit A
AGREEMENT
The undersigned agree that this Amendment to Schedule 13G dated February 16,
2010 relating to the Common Stock, $0.16 2/3 par value, of Humana Inc., shall be
filed on behalf of the undersigned.
Fairholme Capital Management, L.L.C.
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/s/ Kathryn Battistella (Attorney-in-fact)
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Name: Kathryn Battistella
Bruce R. Berkowitz
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/s/ Kathryn Battistella (Attorney-in-fact)
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Name: Kathryn Battistella
Fairholme Funds, Inc.
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By: Fairholme Capital Management, L.L.C.
Investment Manager
/s/ Kathryn Battistella (Attorney-in-fact)
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Name: Kathryn Battistella
Exhibit B
LIMITED POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that the undersigned constitutes and
appoints Kathryn Battistella, his true and lawful attorney-in-fact and agent,
with full power of substitution and resubstitution, for him and in his capacity
as Managing Member of Fairholme Capital Management, LLC, for the sole purpose of
signing on his behalf any and all Regulatory Filings under the Securities Act of
1933, the Securities Exchange Act of 1934, the Investment Advisers Act of 1940
and any amendments and supplements thereto, and to file the same, with all
exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission, granting unto said attorney-in-fact and
agent, full power and authority to do and perform each and every act and thing
requisite and necessary to accomplish the above, as fully as to all intents and
purposes as he might or could do in person, hereby ratifying and confirming all
that said attorney-in-fact and agent, and may lawfully do or cause to be done by
virtue hereof. This Power of Attorney shall continue effective until revoked by
me at any time.
Dated this 9th day of February, 2010.
/s/ Bruce R. Berkowitz
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Bruce R. Berkowitz
Fairholme Capital Management, LLC
Managing Member
SK 22146 0001 1070203