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Bruce Berkowitz

Fairholme Capital Management

Fairholme Fund manager

$1.49B

Portfolio Value

13

Holdings

Q2 '26

Period

2026-08-14

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
76.4% of portfolio
-5% shares-3.2pp
BRK.BINCREASED
3.0% of portfolio
+74% shares+1.4pp
PGRINCREASED
1.1% of portfolio
+9% shares+0.2pp
BRK.AREDUCED
0.6% of portfolio
+450% shares+0.5pp
PFENEW
0.4% of portfolio
New position
KHCINCREASED
0.3% of portfolio
+92% shares+0.2pp
CPBNEW
0.2% of portfolio
New position
UPSNEW
0.2% of portfolio
New position

📊 Sector Breakdown

Portfolio allocation by sector

Unknown 95.4%Financials 3.5%Consumer Staples 0.5%Healthcare 0.4%Industrials 0.2%+1 more (0.0%)

💼 Holdings

🔍

13 of 13 positions · $1.49B

This quarter: 3 new positions, increased 3, reduced 2. Net buyer.

JOEREDUCED
76.4%
76.4% of portfolio (was 79.7%, trimmed)
Filed ~$63
—📄
EPD
13.5%
13.5% of portfolio
Filed ~$37
—📄
OZK
3.2%
3.2% of portfolio
Filed ~$52
—📄
BRK.BINCREASED
3.0%
3.0% of portfolio (was 1.6%, added)
Filed ~$500
—📄
WRB
1.2%
1.2% of portfolio
Filed ~$71
—📄
PGRINCREASED
1.1%
1.1% of portfolio (was 0.9%, added)
Filed ~$218
—📄
BRK.AREDUCED
0.6%
0.6% of portfolio (was 0.1%, trimmed)
Filed ~$748850
—📄
PFENEW
0.4%
0.4% of portfolio (new position)
Filed ~$24
—📄
KHCINCREASED
0.3%
0.3% of portfolio (was 0.2%, added)
Filed ~$24
—📄
CPBNEW
0.2%
0.2% of portfolio (new position)
Filed ~$22
—📄
UPSNEW
0.2%
0.2% of portfolio (new position)
Filed ~$108
—📄
AAPL
<0.1%
<0.1% of portfolio
Filed ~$289
—📄
HOMB
<0.1%
<0.1% of portfolio
Filed ~$29
—📄