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Bruce Berkowitz

Fairholme Capital · 12 closed periods in the current 3-year detail window (latest closed period: Q4 2025 → next disclosure, 15 priced positions, -7.96% return). Every disclosed long-equity position appears in the table for its period; the Valid column shows 1 (counted in the math) or 0 (excluded — hover the row for the reason). See the methodology for the exact math.

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2026-02-172026-05-15

15 of 15 priced100.00% coverage
-7.96%
Holdings from Q4 2025 disclosure · accession 0000919574-26-001186 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
JOE19,422,467$71.11$63.57$1.38B$1.23B-10.60%80.43%-8.5 bps1
EPD5,450,400$36.75$39.23$200.3M$213.82M+6.75%12.19%+0.8 bps1
OZK913,652$49.51$46.73$45.23M$42.69M-5.62%2.93%-0.2 bps1
BRK-B48,012$503.41$482.70$24.17M$23.18M-4.11%1.68%-0.1 bps1
WRB260,150$71.04$66.45$18.48M$17.29M-6.46%1.27%-0.1 bps1
PGR25,600$207.90$199.73$5.32M$5.11M-3.93%0.41%-0.0 bps1
CF54,700$93.79$125.24$5.13M$6.85M+33.53%0.30%+0.1 bps1
OXY69,100$45.94$59.62$3.17M$4.12M+29.78%0.20%+0.1 bps1
ET166,600$18.61$20.15$3.1M$3.36M+8.28%0.19%+0.0 bps1
TGT23,000$116.54$121.54$2.68M$2.8M+4.29%0.16%+0.0 bps1
NRP12,000$124.18$106.90$1.49M$1.28M-13.92%0.09%-0.0 bps1
BRK-A1$754910.00$723821.00$754.91K$723.82K-4.12%0.05%-0.0 bps1
AAPL2,400$263.88$300.23$633.31K$720.55K+13.78%0.05%+0.0 bps1
FANG4,000$168.59$203.56$674.36K$814.24K+20.74%0.04%+0.0 bps1
EOG2,000$119.75$140.26$239.5K$280.52K+17.13%0.01%+0.0 bps1
Top 5 (by entry value)(5)$1.67B$1.53B-8.25%
Total(15)$1.69B$1.56B-7.96%

2025-11-142026-02-17

12 of 12 priced100.00% coverage
+21.68%
Holdings from Q3 2025 disclosure · accession 0000919574-25-007000 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
JOE19,578,367$57.17$71.11$1.12B$1.39B+24.38%78.19%+19.1 bps1
EPD5,450,400$32.26$36.75$175.83M$200.3M+13.92%13.76%+1.9 bps1
OZK915,652$44.10$49.51$40.38M$45.33M+12.27%3.77%+0.5 bps1
BRK-B48,437$508.94$503.41$24.65M$24.38M-1.09%1.97%-0.0 bps1
WRB261,450$77.00$71.04$20.13M$18.57M-7.74%1.62%-0.1 bps1
OXY69,100$42.76$45.94$2.95M$3.17M+7.44%0.26%+0.0 bps1
ET166,600$17.01$18.61$2.83M$3.1M+9.41%0.23%+0.0 bps1
BRK-A1$763867.00$754910.00$763.87K$754.91K-1.17%0.06%-0.0 bps1
AAPL2,400$272.41$263.88$653.78K$633.31K-3.13%0.05%-0.0 bps1
FANG4,000$149.20$168.59$596.8K$674.36K+13.00%0.05%+0.0 bps1
CNR5,000$82.37$86.61$411.85K$433.05K+5.15%0.03%+0.0 bps1
EOG2,000$110.40$119.75$220.8K$239.5K+8.47%0.02%+0.0 bps1
Top 5 (by entry value)(5)$1.38B$1.68B+21.77%
Total(12)$1.39B$1.69B+21.68%

2025-08-142025-11-14

12 of 12 priced100.00% coverage
+10.00%
Holdings from Q2 2025 disclosure · accession 0000919574-25-004911 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
JOE20,204,167$50.71$57.17$1.02B$1.16B+12.74%78.54%+10.0 bps1
EPD5,450,400$31.92$32.26$173.98M$175.83M+1.07%13.77%+0.1 bps1
OZK916,752$50.29$44.10$46.1M$40.43M-12.31%3.52%-0.4 bps1
BRK-B48,597$479.22$508.94$23.29M$24.73M+6.20%1.92%+0.1 bps1
WRB261,450$71.56$77.00$18.71M$20.13M+7.60%1.57%+0.1 bps1
ET166,600$17.38$17.01$2.9M$2.83M-2.13%0.25%-0.0 bps1
OXY69,100$44.77$42.76$3.09M$2.95M-4.49%0.24%-0.0 bps1
BRK-A1$718680.00$763867.00$718.68K$763.87K+6.29%0.06%+0.0 bps1
FANG4,000$140.77$149.20$563.08K$596.8K+5.99%0.04%+0.0 bps1
AAPL2,400$232.78$272.41$558.67K$653.78K+17.02%0.04%+0.0 bps1
CNR5,000$74.77$82.37$373.85K$411.85K+10.16%0.03%+0.0 bps1
EOG2,000$119.79$110.40$239.58K$220.8K-7.84%0.02%-0.0 bps1
Top 5 (by entry value)(5)$1.29B$1.42B+10.07%
Total(12)$1.3B$1.42B+10.00%

2025-05-152025-08-14

12 of 12 priced100.00% coverage
+7.37%
Holdings from Q1 2025 disclosure · accession 0000919574-25-003250 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
JOE20,206,867$46.30$50.71$935.58M$1.02B+9.52%78.07%+7.4 bps1
EPD5,450,400$32.29$31.92$175.99M$173.98M-1.15%15.31%-0.2 bps1
OZK631,602$46.49$50.29$29.36M$31.76M+8.17%2.26%+0.2 bps1
BRK-B48,717$507.33$479.22$24.72M$23.35M-5.54%2.14%-0.1 bps1
WRB261,450$72.70$71.56$19.01M$18.71M-1.57%1.53%-0.0 bps1
ET166,600$17.97$17.38$2.99M$2.9M-3.28%0.25%-0.0 bps1
OXY54,300$43.37$44.77$2.35M$2.43M+3.23%0.22%+0.0 bps1
BRK-A1$759100.00$718680.00$759.1K$718.68K-5.32%0.07%-0.0 bps1
FANG4,000$141.95$140.77$567.8K$563.08K-0.83%0.05%-0.0 bps1
AAPL2,400$211.45$232.78$507.48K$558.67K+10.09%0.04%+0.0 bps1
CNR5,000$72.57$74.77$362.85K$373.85K+3.03%0.03%+0.0 bps1
EOG2,000$115.86$119.79$231.72K$239.58K+3.39%0.02%+0.0 bps1
Top 5 (by entry value)(5)$1.18B$1.27B+7.41%
Total(12)$1.19B$1.28B+7.37%

2025-02-142025-05-15

10 of 10 priced100.00% coverage
-3.03%
Holdings from Q4 2024 disclosure · accession 0000919574-25-001521 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
JOE20,617,467$47.81$46.30$985.72M$954.59M-3.16%78.38%-2.5 bps1
EPD5,448,900$33.44$32.29$182.21M$175.94M-3.44%14.46%-0.5 bps1
OZK643,402$51.86$46.49$33.37M$29.91M-10.35%2.42%-0.3 bps1
BRK-B48,717$479.59$507.33$23.36M$24.72M+5.78%1.87%+0.1 bps1
ET852,900$19.99$17.97$17.05M$15.33M-10.11%1.41%-0.1 bps1
WRB261,450$60.35$72.70$15.78M$19.01M+20.46%1.29%+0.3 bps1
BRK-A1$719146.00$759100.00$719.15K$759.1K+5.56%0.06%+0.0 bps1
AAPL2,400$244.60$211.45$587.04K$507.48K-13.55%0.05%-0.0 bps1
OXY9,000$48.06$43.37$432.54K$390.33K-9.76%0.04%-0.0 bps1
EOG2,000$129.31$115.86$258.62K$231.72K-10.40%0.02%-0.0 bps1
Top 5 (by entry value)(5)$1.24B$1.2B-3.32%
Total(10)$1.26B$1.22B-3.03%

2024-11-142025-02-14

7 of 7 priced100.00% coverage
-2.31%
Holdings from Q3 2024 disclosure · accession 0000919574-24-006738 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
JOE21,146,067$50.07$47.81$1.06B$1.01B-4.51%84.52%-3.8 bps1
EPD5,446,400$30.81$33.44$167.8M$182.13M+8.54%10.87%+0.9 bps1
OZK653,102$47.77$51.86$31.2M$33.87M+8.56%1.92%+0.2 bps1
BRK-B50,072$467.70$479.59$23.42M$24.01M+2.54%1.58%+0.0 bps1
WRB261,450$59.65$60.35$15.6M$15.78M+1.17%1.02%+0.0 bps1
BRK-A1$700600.00$719146.00$700.6K$719.15K+2.65%0.05%+0.0 bps1
AAPL2,400$228.22$244.60$547.73K$587.04K+7.18%0.04%+0.0 bps1
Top 5 (by entry value)(5)$1.3B$1.27B-2.31%
Total(7)$1.3B$1.27B-2.31%

2024-08-142024-11-14

7 of 7 priced100.00% coverage
-9.97%
Holdings from Q2 2024 disclosure · accession 0000919574-24-004743 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
JOE21,520,167$57.56$50.07$1.24B$1.08B-13.01%84.78%-11.0 bps1
EPD5,438,300$28.89$30.81$157.11M$167.55M+6.65%11.35%+0.8 bps1
OZK548,550$40.31$47.77$22.11M$26.2M+18.51%1.62%+0.3 bps1
BRK-B49,952$438.47$467.70$21.9M$23.36M+6.67%1.46%+0.1 bps1
WRB124,900$85.97$89.47$10.74M$11.18M+4.08%0.71%+0.0 bps1
BRK-A1$657122.00$700600.00$657.12K$700.6K+6.62%0.04%+0.0 bps1
AAPL2,400$221.72$228.22$532.13K$547.73K+2.93%0.04%+0.0 bps1
Top 5 (by entry value)(5)$1.45B$1.31B-9.98%
Total(7)$1.45B$1.31B-9.97%

2024-05-152024-08-14

7 of 7 priced100.00% coverage
-1.53%
Holdings from Q1 2024 disclosure · accession 0000919574-24-003201 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
JOE22,513,148$58.59$57.56$1.32B$1.3B-1.76%86.35%-1.5 bps1
EPD5,436,600$28.84$28.89$156.79M$157.06M+0.17%10.50%+0.0 bps1
BRK-B48,958$412.76$438.47$20.21M$21.47M+6.23%1.36%+0.1 bps1
OZK324,500$48.78$40.31$15.83M$13.08M-17.36%0.98%-0.2 bps1
WRB126,600$78.37×1.5$57.31$9.92M$10.88M+9.69%0.74%+0.1 bps1
BRK-A1$622815.00$657122.00$622.82K$657.12K+5.51%0.04%+0.0 bps1
AAPL2,400$189.72$221.72$455.33K$532.13K+16.87%0.03%+0.0 bps1
Top 5 (by entry value)(5)$1.52B$1.5B-1.54%
Total(7)$1.52B$1.5B-1.53%

2024-02-142024-05-15

7 of 7 priced100.00% coverage
+7.63%
Holdings from Q4 2023 disclosure · accession 0000919574-24-001481 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
JOE22,679,148$54.33$58.59$1.23B$1.33B+7.84%87.58%+6.9 bps1
EPD5,208,400$26.69$28.84$139.01M$150.21M+8.06%8.81%+0.7 bps1
BRK-B122,958$398.68$412.76$49.02M$50.75M+3.53%2.81%+0.1 bps1
WRB126,600$81.92$78.37$10.37M$9.92M-4.33%0.57%-0.0 bps1
OZK51,200$42.62$48.78$2.18M$2.5M+14.45%0.16%+0.0 bps1
BRK-A1$601000.00$622815.00$601K$622.82K+3.63%0.03%+0.0 bps1
AAPL2,400$184.15$189.72$441.96K$455.33K+3.02%0.03%+0.0 bps1
Top 5 (by entry value)(5)$1.43B$1.54B+7.64%
Total(7)$1.43B$1.54B+7.63%

2023-11-142024-02-14

8 of 8 priced100.00% coverage
+4.55%
Holdings from Q3 2023 disclosure · accession 0000919574-23-006407 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
JOE22,711,748$51.93$54.33$1.18B$1.23B+4.62%87.69%+4.1 bps1
EPD5,064,200$26.22$26.69$132.78M$135.16M+1.79%9.85%+0.2 bps1
BRK-B51,273$354.25$398.68$18.16M$20.44M+12.54%1.28%+0.2 bps1
WRB128,200$68.47$81.92$8.78M$10.5M+19.64%0.58%+0.1 bps1
OZK147,500$40.86$42.62$6.03M$6.29M+4.31%0.39%+0.0 bps1
HOMB103,400$22.04$23.30$2.28M$2.41M+5.72%0.15%+0.0 bps1
BRK-A1$537400.00$601000.00$537.4K$601K+11.83%0.04%+0.0 bps1
AAPL2,400$187.44$184.15$449.86K$441.96K-1.76%0.03%-0.0 bps1
Top 5 (by entry value)(5)$1.35B$1.41B+4.55%
Total(8)$1.35B$1.41B+4.55%

2023-08-142023-11-14

10 of 11 priced99.80% coverage
-14.42%
Holdings from Q2 2023 disclosure · accession 0000919574-23-004811 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
JOE23,780,448$61.71$51.93$1.47B$1.23B-15.85%87.41%-13.9 bps1
EPD4,413,200$26.79$26.22$118.23M$115.71M-2.13%8.84%-0.2 bps1
BRK-B65,920$358.48$354.25$23.63M$23.35M-1.18%1.71%-0.0 bps1
WRB131,200$63.80$68.47$8.37M$8.98M+7.32%0.59%+0.0 bps1
CMC128,800$56.01$46.18$7.21M$5.95M-17.55%0.52%-0.1 bps1
ET268,700$12.72$13.31$3.42M$3.58M+4.64%0.26%+0.0 bps1
USB73,600$38.72$36.15$2.85M$2.66M-6.64%0.18%-0.0 bps1
KEY257,900$11.02$11.92$2.84M$3.07M+8.17%0.18%+0.0 bps1
AAPL4,260$179.46$187.44$764.5K$798.49K+4.45%0.06%+0.0 bps1
BRK-A1$543150.00$537400.00$543.15K$537.4K-1.06%0.04%-0.0 bps1
CMA0.20%0
Top 5 (by entry value)(5)$1.62B$1.39B-14.52%
Total(10)$1.64B$1.4B-14.42%

2023-05-152023-08-14

9 of 11 priced99.66% coverage
+39.02%
Holdings from Q1 2023 disclosure · accession 0000919574-23-003346 — these holdings should be identical to the manager's portfolio view for that quarter.
TickerEntry sharesEntry $SplitExit $Entry valueExit valueReturnWeightContributionValid
JOE24,141,448$42.74$61.71$1.03B$1.49B+44.38%83.08%+36.9 bps1
EPD4,182,800$25.94$26.79$108.5M$112.06M+3.28%8.96%+0.3 bps1
CMC1,272,900$44.43$56.01$56.55M$71.3M+26.06%5.15%+1.3 bps1
BRK-B59,565$323.53$358.48$19.27M$21.35M+10.80%1.52%+0.2 bps1
C82,500$46.05$44.10$3.8M$3.64M-4.23%0.32%-0.0 bps1
ET268,700$12.51$12.72$3.36M$3.42M+1.68%0.28%+0.0 bps1
INTC94,500$29.80$35.68$2.82M$3.37M+19.73%0.26%+0.1 bps1
AAPL4,260$172.07$179.46$733.02K$764.5K+4.29%0.06%+0.0 bps1
BRK-A1$495900.00$543150.00$495.9K$543.15K+9.53%0.04%+0.0 bps1
WBA0.21%0
MMP0.13%0
Top 5 (by entry value)(5)$1.22B$1.7B+39.20%
Total(9)$1.23B$1.71B+39.02%