Bruce Berkowitz - Fairholme Capital
Fairholme Capital
Latest 13F filing
Q4 2025
filed Feb 17, 2026
Portfolio value
$1.43B
Positions
15
Top 10 concentration
99.8%
QoQ change
+15.7%
+$194.70M
Activity vs. Q3 2025
4
New positions
0
Added to
7
Unchanged
4
Reduced
1
Exited
Portfolio composition — Q4 2025
- JOEST JOE CO80.4%
- EPDENTERPRISE PRODS PARTNERS L12.2%
- OZKBANK OZK2.9%
- BRK/BBERKSHIRE HATHAWAY INC DEL1.7%
- WRBWR BERKLEY CORP1.3%
- PGRPROGRESSIVE CORP0.4%
- CFCF INDS HLDGS INC0.3%
- OXYOCCIDENTAL PETE CORP0.2%
- ETENERGY TRANSFER L P0.2%
- TGTTARGET CORP0.2%
- Other5 more positions0.2%
Top buys
New & added positions, by size
Holdings as of Q4 2025
| # | Ticker | Issuer | Shares | Value | % Portfolio | Reported price | Action | Δ Shares |
|---|---|---|---|---|---|---|---|---|
| 1 | JOE | ST JOE CO | 19,422,467 | $1.15B | 80.43% | $59.37 | REDUCE | -0.8% |
| 2 | EPD | ENTERPRISE PRODS PARTNERS L | 5,450,400 | $174.74M | 12.19% | $32.06 | — | 0% |
| 3 | OZK | BANK OZK | 913,652 | $42.05M | 2.93% | $46.02 | REDUCE | -0.2% |
| 4 | BRK/B | BERKSHIRE HATHAWAY INC DEL | 48,012 | $24.13M | 1.68% | $502.65 | REDUCE | -0.9% |
| 5 | WRB | WR BERKLEY CORP | 260,150 | $18.24M | 1.27% | $70.12 | REDUCE | -0.5% |
| 6 | PGR | PROGRESSIVE CORP | 25,600 | $5.83M | 0.41% | $227.72 | NEW | — |
| 7 | CF | CF INDS HLDGS INC | 54,700 | $4.23M | 0.30% | $77.34 | NEW | — |
| 8 | OXY | OCCIDENTAL PETE CORP | 69,100 | $2.84M | 0.20% | $41.12 | — | 0% |
| 9 | ET | ENERGY TRANSFER L P | 166,600 | $2.75M | 0.19% | $16.49 | — | 0% |
| 10 | TGT | TARGET CORP | 23,000 | $2.25M | 0.16% | $97.75 | NEW | — |
| 11 | NRP | NATURAL RESOURCE PARTNERS L | 12,000 | $1.25M | 0.09% | $104.40 | NEW | — |
| 12 | BRK/A | BERKSHIRE HATHAWAY INC DEL | 1 | $754.80K | 0.05% | $754800.00 | — | 0% |
| 13 | AAPL | APPLE INC | 2,400 | $652.46K | 0.05% | $271.86 | — | 0% |
| 14 | FANG | DIAMONDBACK ENERGY INC | 4,000 | $601.32K | 0.04% | $150.33 | — | 0% |
| 15 | EOG | EOG RES INC | 2,000 | $210.02K | 0.01% | $105.01 | — | 0% |
Positions exited in Q4 2025
| Ticker | Issuer | Prior shares |
|---|---|---|
| CNR | CORE NATURAL RESOURCES INC | 5,000 |
Source: SEC EDGAR 13F-HR filing Feb 17, 2026. Reported prices are derived from the filing's value-to-shares ratio (effectively the quarter-end mark). Filings are published with a 45-day delay. CIK 0001056831.