Bruce Berkowitz Fairholme Capital Management
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Berkshire Hathaway Class B
BRK.B
|
+$13.7M |
| 2 |
Enterprise Products Partners
EPD
|
+$7.48M |
| 3 |
Commercial Metals
CMC
|
+$3.35M |
| 4 |
WBA
Walgreens Boots Alliance
WBA
|
+$185K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Kinder Morgan
KMI
|
+$7.67M |
| 2 |
D.R. Horton
DHI
|
+$4.7M |
| 3 |
West Fraser Timber
WFG
|
+$844K |
| 4 |
Intel
INTC
|
+$106K |
| 5 |
Citigroup
C
|
+$88.9K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 76.18% |
| 2 | Energy | 9.84% |
| 3 | Industrials | 8.2% |
| 4 | Financials | 3.92% |
| 5 | Technology | 1.52% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
St. Joe Company
JOE
$3.92B
| $784M | 76.18% |
24,469,790
| – | – |
|
|
2
Enterprise Products Partners
EPD
$82.1B
| $92.3M | 8.97% |
3,882,800
+290,000
| +8% | +$7.48M |
|
|
3
Commercial Metals
CMC
$7.34B
| $84.4M | 8.2% |
2,377,800
+86,800
| +4% | +$3.35M |
|
|
4
Berkshire Hathaway Class B
BRK.B
$1.06T
| $26M | 2.53% |
97,525
+48,200
| +98% | +$13.7M |
|
|
5
Intel
INTC
$476B
| $15.1M | 1.47% |
585,300
-3,100
| -0.5% | -$106K |
|
|
6
Citigroup
C
$221B
| $7.25M | 0.71% |
174,100
-1,800
| -1% | -$88.9K |
|
7
Old Republic International
ORI
$10B
| $6.62M | 0.64% |
316,100
| – | – |
|
|
8
Kinder Morgan
KMI
$69B
| $5.91M | 0.57% |
355,200
-431,400
| -55% | -$7.67M |
|
9
Energy Transfer Partners
ET
$73B
| $2.96M | 0.29% |
268,700
| – | – |
|
|
WBA
10
DELISTED
Walgreens Boots Alliance
WBA
| $2.32M | 0.23% |
74,000
+5,000
| +7% | +$185K |
|
11
Alibaba
BABA
$286B
| $1.24M | 0.12% |
15,500
-790
| -5% | -$75.3K |
|
12
Apple
AAPL
$4.51T
| $589K | 0.06% |
4,260
| – | – |
|
|
13
Berkshire Hathaway Class A
BRK.A
$1.06T
| $406K | 0.04% |
1
| – | – |
|
|
14
D.R. Horton
DHI
$41.5B
| – | – |
-71,000
| Closed | -$4.7M |
|
|
15
West Fraser Timber
WFG
$5.46B
| – | – |
-11,000
| Closed | -$844K |
|
Similar funds
Bruce Berkowitz's Q3 2022 Portfolio in Review
As of Q3 2022, Bruce Berkowitz held 15 positions worth $1.03B, down 15% from $1.21B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Bruce Berkowitz's Q3 2022 filing shows 4 increased, 4 reduced and 2 closed positions. The largest sale was Kinder Morgan, an estimated $7.67M.
By sector, the portfolio is most concentrated in Real Estate at 76% of assets, down from 80% a quarter earlier, followed by Energy and Industrials.
- Bruce Berkowitz added most to Berkshire Hathaway Class B in Q3 2022, an estimated $13.7M increase.
- Bruce Berkowitz's biggest Q3 2022 reduction was Kinder Morgan, cutting an estimated $7.67M.
- Bruce Berkowitz fully exited D.R. Horton in Q3 2022, selling an estimated $4.7M.
- Bruce Berkowitz's ten largest holdings make up 100% of its $1.03B portfolio in Q3 2022.
- Bruce Berkowitz opened 0 new positions and closed 2 in Q3 2022.
- Bruce Berkowitz's portfolio value fell 15% quarter-over-quarter to $1.03B.
Based on Fairholme Capital Management's 13F filing for Q3 2022, filed 14 Nov 2022.