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Bruce Berkowitz

Fairholme Capital Management

Fairholme Fund manager

$1.51B

Portfolio Value

10

Holdings

Q1 '26

Period

2026-05-15

Filed

📉

Simulated 13F Return

⚠️ Approximation

Total Return

+9.48%

Q4 '24 → Q3 '25

Annualized

+12.88%/yr

S&P: +18.77%/yr

Alpha (vs S&P)

-4.24%

3 quarters tracked

1-Year Return

—

⚠️ Approximation only. 13F filings are delayed ~45 days. Options, shorts, and intra-quarter trades not captured.

📈 Recent Activity

Changes from previous quarter

JOEREDUCED
79.7% of portfolio
-1% shares-0.8pp
EPDINCREASED
13.6% of portfolio
+0% shares+1.4pp
OZKAPINCREASED
2.8% of portfolio
+1% shares-0.1pp
BRK.BINCREASED
1.6% of portfolio
+5% shares-0.1pp
WRB-PFREDUCED
1.1% of portfolio
-1% shares-0.2pp
PGRINCREASED
0.9% of portfolio
+159% shares+0.5pp
KHCNEW
0.2% of portfolio
New position
BRK.AINCREASED
0.1% of portfolio
+100% shares+0.0pp
HOMBNEW
<0.1% of portfolio
New position
CFSOLD
was 0.3%
Sold out position
Filing price: $77.34
OXYSOLD
was 0.2%
Sold out position
Filing price: $41.12
ETSOLD
was 0.2%
Sold out position
Filing price: $16.49
TGTSOLD
was 0.2%
Sold out position
Filing price: $97.75
NRPSOLD
was 0.1%
Sold out position
Filing price: $104.40
FANGSOLD
was <0.1%
Sold out position
Filing price: $150.33
EOGSOLD
was <0.1%
Sold out position
Filing price: $105.01

Sold Out (7)

SOLDTGTTARGET CORPwas 0.16%@$97.75
SOLDCFCF INDS HLDGS INCwas 0.30%@$77.34
SOLDFANGDIAMONDBACK ENERGY INCwas 0.04%@$150.33
SOLDETENERGY TRANSFER L Pwas 0.19%@$16.49
SOLDEOGEOG RES INCwas 0.01%@$105.01
SOLDNRPNATURAL RESOURCE PARTNERS Lwas 0.09%@$104.40
SOLDOXYOCCIDENTAL PETE CORPwas 0.20%@$41.12

📊 Sector Breakdown

Portfolio allocation by sector

Unknown 98.1%Financials 1.7%Consumer Staples 0.2%Technology 0.0%

💼 Holdings

🔍

10 of 10 positions · $1.51B

This quarter: 2 new positions, increased 5, reduced 2, sold 7. Net seller.

JOEREDUCED
79.7%
79.7% of portfolio (was 80.4%, trimmed)
Filed ~$63
—📄
EPDINCREASED
13.6%
13.6% of portfolio (was 12.2%, added)
Filed ~$38
—📄
OZKAPINCREASED
2.8%
2.8% of portfolio (was 2.9%, added)
Filed ~$46
—📄
BRK.BINCREASED
1.6%
1.6% of portfolio (was 1.7%, added)
Filed ~$479
—📄
WRB-PFREDUCED
1.1%
1.1% of portfolio (was 1.3%, trimmed)
Filed ~$66
—📄
PGRINCREASED
0.9%
0.9% of portfolio (was 0.4%, added)
Filed ~$198
—📄
KHCNEW
0.2%
0.2% of portfolio (new position)
Filed ~$22
—📄
BRK.AINCREASED
0.1%
0.1% of portfolio (was 0.1%, added)
Filed ~$718140
—📄
AAPL
<0.1%
<0.1% of portfolio
Filed ~$254
—📄
HOMBNEW
<0.1%
<0.1% of portfolio (new position)
Filed ~$27
—📄

🚫 Sold Out (7 positions)

SOLDTGTTARGET CORPwas 0.16%@$97.7523000 shares · $2.2M
SOLDCFCF INDS HLDGS INCwas 0.30%@$77.3454700 shares · $4.2M
SOLDFANGDIAMONDBACK ENERGY INCwas 0.04%@$150.334000 shares · $601K
SOLDETENERGY TRANSFER L Pwas 0.19%@$16.49166600 shares · $2.7M
SOLDEOGEOG RES INCwas 0.01%@$105.012000 shares · $210K
SOLDNRPNATURAL RESOURCE PARTNERS Lwas 0.09%@$104.4012000 shares · $1.3M
SOLDOXYOCCIDENTAL PETE CORPwas 0.20%@$41.1269100 shares · $2.8M