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BB

Bruce Berkowitz Fairholme Capital Management

AUM $1.49B
1-Year Est. Return 28.35%
 

Bruce Berkowitz is the founder of Fairholme Capital Management and a concentrated value investor known for bold, high-conviction portfolios. He rose to prominence managing mutual fund assets with a willingness to take large positions in out-of-favor financials and special situations. Berkowitz’s approach prioritizes intrinsic value estimates and a short list of ideas rather than broad diversification.

This Fund
S&P 500
This Quarter Est. Return
-11.44%
1 Year Est. Return
+28.35%
3 Year Est. Return
+36.16%
5 Year Est. Return
+56.7%
10 Year Est. Return
+189.85%
AUM
$726M
AUM Growth
-$181M
Cap. Flow
-$26.6M
Cap. Flow %
-3.66%
Top 10 Hldgs %
100%
Holding
5
New
–
Increased
1
Reduced
3
Closed
–

Top Buys

Rank Stock Value
1
JOE icon
St. Joe Company
JOE
+$16.6M

Top Sells

Rank Stock Value
1
SHLD
Sears Holding Corporation
SHLD
+$21.9M
2
SRG
Seritage Growth Properties
SRG
+$20.6M
3
SHLDW
Sears Holdings Corporation - Warrant
SHLDW
+$691K

Sector Composition

Rank Sector Weight
1 Real Estate 87.6%
2 Consumer Discretionary 11.88%
3 Financials 0.24%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JOE icon
1
St. Joe Company
JOE
$3.92B
$504M 69.36%
27,897,499
+895,014
+3% +$16.6M
SRG
2
Seritage Growth Properties
SRG
$120M
$132M 18.24%
3,273,398
-493,252
-13% -$20.6M
SHLD
3
DELISTED
Sears Holding Corporation
SHLD
$86.2M 11.88%
24,084,301
-4,424,697
-16% -$21.9M
SHLDW
4
DELISTED
Sears Holdings Corporation - Warrant
SHLDW
$2.04M 0.28%
5,830,968
-809,483
-12% -$691K
JEF icon
5
Jefferies Financial Group
JEF
$12.1B
$1.75M 0.24%
73,730
– –

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Bruce Berkowitz's Q4 2017 Portfolio in Review

As of Q4 2017, Bruce Berkowitz held 5 positions worth $726M, down 20% from $907M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Bruce Berkowitz withdrew a net $26.6M in Q4 2017, reducing 3 holdings. Its largest reduction was Sears Holding Corporation, cutting an estimated $21.9M.

By sector, the portfolio is most concentrated in Real Estate at 88% of assets, up from 75% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Bruce Berkowitz added an estimated $16.6M to St. Joe Company.

  • Bruce Berkowitz added most to St. Joe Company in Q4 2017, an estimated $16.6M increase.
  • Bruce Berkowitz's biggest Q4 2017 reduction was Sears Holding Corporation, cutting an estimated $21.9M.
  • Bruce Berkowitz's ten largest holdings make up 100% of its $726M portfolio in Q4 2017.
  • Bruce Berkowitz opened 0 new positions and closed 0 in Q4 2017.
  • Bruce Berkowitz's portfolio value fell 20% quarter-over-quarter to $726M.

Based on Fairholme Capital Management's 13F filing for Q4 2017, filed 15 Feb 2018.