# Bruce Berkowitz — Fairholme Capital

Portfolio USD 1,489,886,000 · 13 positions · 2026 Q2 · history from 2006 Q4.
Source: quarterly 13F filings via dataroma.com. Page: https://gigainvestors.com/fairx

## Positions (2026 Q2)

| Ticker | Company | % of portfolio | Value | This quarter | Holders |
|---|---|---:|---:|---|---:|
| JOE | St. Joe Co. | 76% | USD 1,138,762,000 | -5.35% |  |
| EPD | Enterprise Products Partners LP | 14% | USD 200,555,000 | hold |  |
| OZK | Bank OZK | 3.2% | USD 47,988,000 | hold |  |
| BRK.B | Berkshire Hathaway CL B | 3.0% | USD 43,960,000 | +74.13% |  |
| WRB | W.R. Berkley Corp. | 1.2% | USD 18,080,000 | hold |  |
| PGR | Progressive Corp. | 1.1% | USD 15,772,000 | +8.73% |  |
| BRK.A | Berkshire Hathaway CL A | 0.6% | USD 8,237,000 | +450% |  |
| PFE | Pfizer Inc. | 0.4% | USD 5,562,000 | new |  |
| KHC | Kraft Heinz Co. | 0.3% | USD 4,778,000 | +92.12% |  |
| CPB | Campbell's Co. | 0.2% | USD 2,594,000 | new |  |
| UPS | United Parcel Service | 0.2% | USD 2,559,000 | new |  |
| AAPL | Apple Inc. | 0.1% | USD 694,000 | hold |  |
| HOMB | Home Bancshares Inc. | <0.1% | USD 345,000 | hold |  |

## Moves this quarter (8)

- JOE St. Joe Co.: -5.35% (USD 1,138,762,000)
- BRK.B Berkshire Hathaway CL B: +74.13% (USD 43,960,000)
- PGR Progressive Corp.: +8.73% (USD 15,772,000)
- BRK.A Berkshire Hathaway CL A: +450% (USD 8,237,000)
- PFE Pfizer Inc.: new (USD 5,562,000)
- KHC Kraft Heinz Co.: +92.12% (USD 4,778,000)
- CPB Campbell's Co.: new (USD 2,594,000)
- UPS United Parcel Service: new (USD 2,559,000)

## Portfolio value by quarter

- 2006 Q4: USD 2,824,875,708 (19 positions)
- 2007 Q1: USD 3,220,273,940 (22 positions)
- 2007 Q2: USD 4,166,670,444 (23 positions)
- 2007 Q3: USD 4,288,033,136 (20 positions)
- 2007 Q4: USD 4,971,922,846 (19 positions)
- 2008 Q1: USD 5,940,478,399 (21 positions)
- 2008 Q2: USD 7,487,118,642 (24 positions)
- 2008 Q3: USD 7,433,994,761 (22 positions)
- 2008 Q4: USD 5,271,220,329 (24 positions)
- 2009 Q1: USD 4,602,559,151 (22 positions)
- 2009 Q2: USD 5,973,434,361 (20 positions)
- 2009 Q3: USD 7,238,598,245 (20 positions)
- 2009 Q4: USD 7,742,573,949 (21 positions)
- 2010 Q1: USD 8,339,800,608 (24 positions)
- 2010 Q2: USD 9,902,352,710 (26 positions)
- 2010 Q3: USD 9,136,756,153 (23 positions)
- 2010 Q4: USD 12,373,631,926 (23 positions)
- 2011 Q1: USD 13,679,594,491 (20 positions)
- 2011 Q2: USD 14,469,512,684 (20 positions)
- 2011 Q3: USD 9,822,828,720 (17 positions)
- 2011 Q4: USD 6,789,643,576 (13 positions)
- 2012 Q1: USD 7,155,820,990 (10 positions)
- 2012 Q2: USD 5,562,443,896 (9 positions)
- 2012 Q3: USD 5,453,595,947 (8 positions)
- 2012 Q4: USD 5,293,173,255 (9 positions)
- 2013 Q1: USD 5,693,724,977 (8 positions)
- 2013 Q2: USD 6,407,025,038 (10 positions)
- 2013 Q3: USD 6,215,461,361 (5 positions)
- 2013 Q4: USD 6,773,619,106 (8 positions)
- 2014 Q1: USD 6,653,725,382 (8 positions)
- 2014 Q2: USD 6,549,521,787 (9 positions)
- 2014 Q3: USD 6,230,837,214 (9 positions)
- 2014 Q4: USD 5,381,593,181 (10 positions)
- 2015 Q1: USD 4,037,293,409 (9 positions)
- 2015 Q2: USD 3,579,009,834 (9 positions)
- 2015 Q3: USD 3,471,308,132 (22 positions)
- 2015 Q4: USD 2,434,583,832 (19 positions)
- 2016 Q1: USD 1,655,318,601 (13 positions)
- 2016 Q2: USD 1,451,423,364 (12 positions)
- 2016 Q3: USD 1,248,570,261 (12 positions)
- 2016 Q4: USD 982,375,727 (8 positions)
- 2017 Q1: USD 1,033,399,807 (9 positions)
- 2017 Q2: USD 981,709,182 (9 positions)
- 2017 Q3: USD 906,743,301 (5 positions)
- 2017 Q4: USD 726,001,857 (5 positions)
- 2018 Q1: USD 700,631,276 (10 positions)
- 2018 Q2: USD 744,280,876 (12 positions)
- 2018 Q3: USD 599,452,992 (9 positions)
- 2018 Q4: USD 366,720,517 (3 positions)
- 2019 Q1: USD 473,281,859 (3 positions)
- 2019 Q2: USD 467,342,580 (3 positions)
- 2019 Q3: USD 475,010,595 (4 positions)
- 2019 Q4: USD 527,507,358 (3 positions)
- 2020 Q1: USD 510,013,697 (7 positions)
- 2020 Q2: USD 597,641,058 (7 positions)
- 2020 Q3: USD 652,683,193 (13 positions)
- 2020 Q4: USD 1,235,775,204 (20 positions)
- 2021 Q1: USD 1,211,648,714 (15 positions)
- 2021 Q2: USD 1,267,306,339 (15 positions)
- 2021 Q3: USD 1,242,319,797 (15 positions)
- 2021 Q4: USD 1,529,269,496 (18 positions)
- 2022 Q1: USD 1,722,874,557 (14 positions)
- 2022 Q2: USD 1,209,158,209 (15 positions)
- 2022 Q3: USD 1,028,790,467 (13 positions)
- 2022 Q4: USD 1,195,720,851 (12 positions)
- 2023 Q1: USD 1,208,960,621 (11 positions)
- 2023 Q2: USD 1,315,227,928 (11 positions)
- 2023 Q3: USD 1,407,069,805 (8 positions)
- 2023 Q4: USD 1,558,592,095 (7 positions)
- 2024 Q1: USD 1,511,309,278 (7 positions)
- 2024 Q2: USD 1,388,497,868 (7 positions)
- 2024 Q3: USD 1,458,776,932 (7 positions)
- 2024 Q4: USD 1,181,933,275 (10 positions)
- 2025 Q1: USD 1,215,295,002 (12 positions)
- 2025 Q2: USD 1,226,999,065 (12 positions)
- 2025 Q3: USD 1,238,813,004 (12 positions)
- 2025 Q4: USD 1,433,639,747 (15 positions)
- 2026 Q1: USD 1,514,343,936 (10 positions)
- 2026 Q2: USD 1,489,886,000 (13 positions)