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 |
Progressive
PGR
|
+$8.42M |
| 2 |
Kraft Heinz
KHC
|
+$2.48M |
| 3 |
Berkshire Hathaway Class B
BRK.B
|
+$1.2M |
| 4 |
Berkshire Hathaway Class A
BRK.A
|
+$736K |
| 5 |
Bank OZK
OZK
|
+$358K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
St. Joe Company
JOE
|
+$14.2M |
| 2 |
CF Industries
CF
|
+$4.23M |
| 3 |
Occidental Petroleum
OXY
|
+$2.84M |
| 4 |
Energy Transfer Partners
ET
|
+$2.75M |
| 5 |
Target
TGT
|
+$2.25M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 79.67% |
| 2 | Energy | 13.63% |
| 3 | Financials | 6.5% |
| 4 | Consumer Staples | 0.16% |
| 5 | Technology | 0.04% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
St. Joe Company
JOE
$3.92B
| $1.21B | 79.67% |
19,210,167
-212,300
| -1% | -$14.2M |
|
2
Enterprise Products Partners
EPD
$82.1B
| $206M | 13.63% |
5,455,800
+5,400
| +0.1% | +$191K |
|
|
3
Bank OZK
OZK
$5.39B
| $42.3M | 2.79% |
921,252
+7,600
| +0.8% | +$358K |
|
|
4
Berkshire Hathaway Class B
BRK.B
$1.06T
| $24.2M | 1.6% |
50,452
+2,440
| +5% | +$1.2M |
|
5
W.R. Berkley
WRB
$25.5B
| $17M | 1.12% |
256,350
-3,800
| -1% | -$262K |
|
|
6
Progressive
PGR
$127B
| $13.2M | 0.87% |
66,400
+40,800
| +159% | +$8.42M |
|
|
7
Kraft Heinz
KHC
$30.3B
| $2.37M | 0.16% |
+105,300
| New | +$2.48M |
|
|
8
Berkshire Hathaway Class A
BRK.A
$1.06T
| $1.44M | 0.09% |
2
+1
| +100% | +$736K |
|
9
Apple
AAPL
$4.51T
| $609K | 0.04% |
2,400
| – | – |
|
10
Home BancShares
HOMB
$6.06B
| $326K | 0.02% |
+12,100
| New | +$341K |
|
|
11
CF Industries
CF
$19.6B
| – | – |
-54,700
| Closed | -$4.23M |
|
12
EOG Resources
EOG
$80.3B
| – | – |
-2,000
| Closed | -$210K |
|
|
13
Energy Transfer Partners
ET
$73B
| – | – |
-166,600
| Closed | -$2.75M |
|
14
Diamondback Energy
FANG
$59B
| – | – |
-4,000
| Closed | -$601K |
|
15
Natural Resource Partners
NRP
$1.4B
| – | – |
-12,000
| Closed | -$1.25M |
|
|
16
Occidental Petroleum
OXY
$61.3B
| – | – |
-69,100
| Closed | -$2.84M |
|
|
17
Target
TGT
$75.1B
| – | – |
-23,000
| Closed | -$2.25M |
|
Similar funds
Bruce Berkowitz's Q1 2026 Portfolio in Review
As of Q1 2026, Bruce Berkowitz held 17 positions worth $1.51B, up 5.6% from $1.43B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Bruce Berkowitz's Q1 2026 filing shows 2 new, 5 increased, 2 reduced and 7 closed positions. Its largest new stake was Kraft Heinz: 105,300 shares worth $2.37M. The largest sale was St. Joe Company, an estimated $14.2M.
By sector, the portfolio is most concentrated in Real Estate at 80% of assets, down from 80% a quarter earlier, followed by Energy and Financials.
- Bruce Berkowitz's largest Q1 2026 buy was Kraft Heinz: 105,300 shares worth $2.37M.
- Bruce Berkowitz added most to Progressive in Q1 2026, an estimated $8.42M increase.
- Bruce Berkowitz's biggest Q1 2026 reduction was St. Joe Company, cutting an estimated $14.2M.
- Bruce Berkowitz fully exited CF Industries in Q1 2026, selling an estimated $4.23M.
- Bruce Berkowitz's ten largest holdings make up 100% of its $1.51B portfolio in Q1 2026.
- Bruce Berkowitz opened 2 new positions and closed 7 in Q1 2026.
- Bruce Berkowitz's portfolio value rose 5.6% quarter-over-quarter to $1.51B.
Based on Fairholme Capital Management's 13F filing for Q1 2026, filed 15 May 2026.