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Bruce Berkowitz - Fairholme Capital
Fairholme Capital Management, led by Bruce Berkowitz.
Portfolio Value
$1.51B
Positions
10
Top 10 Weight
100.00%
Largest Position
79.67%
As of
Q1 2026
Filed
May 15, 2026
ST JOE CO79.67%ENTERPRISE PRODS PARTNERS L13.63%BANK OZK2.79%BERKSHIRE HATHAWAY INC DEL1.60%BERKLEY W R CORP1.12%hover the bar for the rest
Strategy Snapshot
- › Portfolio value rose 5.6% quarter-over-quarter to $1.51B.
- › Highly concentrated portfolio — the top 10 holdings make up 100.0% of assets.
- › This quarter: 2 new buys, 5 adds, 2 trims, 7 full exits — net seller.
- › Biggest new buy: KRAFT HEINZ CO (KHC) ($2.37M).
- › Biggest exit: CF INDS HLDGS INC (CF) ($4.23M position closed).
Changes since Q4 2025
New Buys
- KRAFT HEINZ CO (KHC)$2.37M
- HOME BANCSHARES INC (HOMB)$325.9K
Added To / Trimmed
- ST JOE CO (JOE)-1.1%
- PROGRESSIVE CORP (PGR)++159.4%
- BERKSHIRE HATHAWAY INC DEL++5.1%
- BERKSHIRE HATHAWAY INC DEL++100.0%
- BANK OZK (OZK)++0.8%
- BERKLEY W R CORP-1.5%
- ENTERPRISE PRODS PARTNERS L (EPD)++0.1%
Exited
- CF INDS HLDGS INC (CF)$4.23M
- OCCIDENTAL PETE CORP (OXY)$2.84M
- ENERGY TRANSFER L P (ET)$2.75M
- TARGET CORP$2.25M
- NATURAL RESOURCE PARTNERS L (NRP)$1.25M
- DIAMONDBACK ENERGY INC (FANG)$601.3K
- EOG RES INC (EOG)$210.0K
Current Holdings
| # | Security | Value | % of Portfolio | Avg Buy Price | Price | Gain | vs 52W High | This Qtr | Last Activity |
|---|---|---|---|---|---|---|---|---|---|
| 1 | ST JOE CO JOE | $1.21B | 79.67% | ~$54.70 | $64.92 | +18.7% | −11.7% | -1.1% | SELL Q1 2026 |
| 2 | ENTERPRISE PRODS PARTNERS L EPD | $206.45M | 13.63% | ~$28.99 | $37.25 | +28.5% | −7.3% | +0.1% | BUY Q1 2026 |
| 3 | BANK OZK OZK | $42.28M | 2.79% | ~$43.13 | $52.10 | +20.8% | −2.9% | +0.8% | BUY Q1 2026 |
| 4 | BERKSHIRE HATHAWAY INC DEL | $24.18M | 1.60% | ~$410.42 | — | — | — | +5.1% | BUY Q1 2026 |
| 5 | BERKLEY W R CORP | $16.99M | 1.12% | ~$67.17 | — | — | — | -1.5% | SELL Q1 2026 |
| 6 | PROGRESSIVE CORP PGR | $13.16M | 0.87% | ~$209.61 | $203.11 | −3.1% | −24.7% | +159.4% | BUY Q1 2026 |
| 7 | KRAFT HEINZ CO KHC | $2.37M | 0.16% | ~$22.49 | $24.39 | +8.4% | −16.4% | NEW | BUY Q1 2026 |
| 8 | BERKSHIRE HATHAWAY INC DEL | $1.44M | 0.09% | ~$665190.50 | — | — | — | +100.0% | BUY Q1 2026 |
| 9 | APPLE INC | $609.1K | 0.04% | ~$210.62 | — | — | — | UNCH | BUY Q2 2024 |
| 10 | HOME BANCSHARES INC HOMB | $325.9K | 0.02% | ~$26.93 | $28.25 | +4.9% | −8.4% | NEW | BUY Q1 2026 |
~ Avg buy price is estimated from quarterly 13F snapshots; actual trade dates and prices are not disclosed in filings. Gain compares the current market price to that estimated cost. vs 52W High shows how far the price sits below its 52-week high. Quotes via Yahoo Finance, may be delayed.
Filing History
| Period | Value Trend | Portfolio Value | Positions | Filed |
|---|---|---|---|---|
| Q1 2026 | $1.51B | 10 | May 15, 2026 | |
| Q4 2025 | $1.43B | 15 | Feb 17, 2026 | |
| Q3 2025 | $1.24B | 12 | Nov 14, 2025 | |
| Q2 2025 | $1.23B | 12 | Aug 14, 2025 | |
| Q1 2025 | $1.22B | 12 | May 15, 2025 | |
| Q4 2024 | $1.18B | 10 | Feb 14, 2025 | |
| Q3 2024 | $1.46B | 7 | Nov 14, 2024 | |
| Q2 2024 | $1.39B | 7 | Aug 14, 2024 |