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Bruce Berkowitz
Fairholme Capital Management
Fairholme Fund manager
$1.43B
Portfolio Value
15
Holdings
Q4 '25
Period
2026-02-17
Filed
📉
⚠️ ApproximationSimulated 13F Return
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
80.4% of portfolio
-1% shares+2.2pp
OZKREDUCED
2.9% of portfolio
-0% shares-0.8pp
BRK.BREDUCED
1.7% of portfolio
-1% shares-0.3pp
WRB-PFREDUCED
1.3% of portfolio
-0% shares-0.3pp
PGRNEW
0.4% of portfolio
New position
CFNEW
0.3% of portfolio
New position
TELLNEW
0.2% of portfolio
New position
NRPNEW
0.1% of portfolio
New position
CNRSOLD
was <0.1%
Sold out position
Filing price: $83.48
Sold Out (1)
📊 Sector Breakdown
Portfolio allocation by sector
Unknown 97.7%Financials 1.7%Materials 0.3%Energy 0.3%Technology 0.0%
💼 Holdings
🔍
15 of 15 positions · $1.43B
This quarter: 4 new positions, reduced 4, sold 1. Net seller.
| # | Stock | % Portfolio▼ | Activity | Shares | Reported Price | Value | Current Price | +/- Reported | 52w Low | 52w High | SEC | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | JOEST JOE CO | 80.4% | Reduce 0.80% | 19422467 | $59.37 | $1.15B | — | — | — | — | 📄 | |
| 2 | EPDENTERPRISE PRODS PARTNERS L | 12.2% | Held | 5450400 | $32.06 | $174.7M | — | — | — | — | 📄 | |
| 3 | OZKBANK OZK | 2.9% | Reduce 0.22% | 913652 | $46.02 | $42.0M | — | — | — | — | 📄 | |
| 4 | BRK.BBerkshire Hathaway Inc. Class B | 1.7% | Reduce 0.88% | 48012 | $502.65 | $24.1M | — | — | — | — | 📄 | |
| 5 | WRB-PFWR BERKLEY CORP | 1.3% | Reduce 0.50% | 260150 | $70.12 | $18.2M | — | — | — | — | 📄 | |
| 6 | PGRPROGRESSIVE CORP | 0.4% | Buy | 25600 | $227.72 | $5.8M | — | — | — | — | 📄 | |
| 7 | CFCF INDS HLDGS INC | 0.3% | Buy | 54700 | $77.34 | $4.2M | — | — | — | — | 📄 | |
| 8 | OXYOCCIDENTAL PETE CORP | 0.2% | Held | 69100 | $41.12 | $2.8M | — | — | — | — | 📄 | |
| 9 | ETENERGY TRANSFER L P | 0.2% | Held | 166600 | $16.49 | $2.7M | — | — | — | — | 📄 | |
| 10 | TELLTARGET CORP | 0.2% | Buy | 23000 | $97.75 | $2.2M | — | — | — | — | 📄 | |
| 11 | NRPNATURAL RESOURCE PARTNERS L | 0.1% | Buy | 12000 | $104.40 | $1.3M | — | — | — | — | 📄 | |
| 12 | BRK.ABerkshire Hathaway Inc. Class A | 0.1% | Held | 1 | $754800.00 | $755K | — | — | — | — | 📄 | |
| 13 | AAPLAPPLE INC | <0.1% | Held | 2400 | $271.86 | $652K | — | — | — | — | 📄 | |
| 14 | FANGDIAMONDBACK ENERGY INC | <0.1% | Held | 4000 | $150.33 | $601K | — | — | — | — | 📄 | |
| 15 | EOGEOG RES INC | <0.1% | Held | 2000 | $105.01 | $210K | — | — | — | — | 📄 |