FAIRHOLME CAPITAL MANAGEMENT LLC
Long book
$1.51B
Q1 2026
Positions
10
Top-10 weight
100%
concentration
Last quarter
-1.2%
SPY +14.8%
Turnover
53%
of book per quarter
Strategy in plain words
auto-generated from filingsFAIRHOLME CAPITAL MANAGEMENT LLC is a concentrated fundamental stock-picker, specialised in real_estate (82% of the long book), running a $1.51B US long book across 10 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: ST JOE CO/THE, ENTERPRISE PRODUCTS PARTNERS, BANK OZK, BERKSHIRE HATHAWAY INC-CL B, WR BERKLEY CORP.
Over the last 9 quarters its long book ran on average 2.7pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-4.8%
Q2 2024
+6.4%
Q3 2024
-18.1%
Q4 2024
+5.8%
Q1 2025
+0.4%
Q2 2025
+4.0%
Q3 2025
+16.0%
Q4 2025
+7.5%
Q1 2026
-1.2%
Sector allocation
Real estate 80%
Utilities 14%
Financials 4%
Other 3%
Consumer staples 0%
Technology 0%
Long book by quarter
What does FAIRHOLME CAPITAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| JOE ST JOE CO/THE | Real estate | 19.2M | $1.21B | 79.7% | -1.1% |
| EPD ENTERPRISE PRODUCTS PARTNERS | Utilities | 5.5M | $206.4M | 13.6% | +0.1% |
| OZK BANK OZK | — | 921.3K | $42.3M | 2.8% | +0.8% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 50.5K | $24.2M | 1.6% | +5.1% |
| WRB WR BERKLEY CORP | Financials | 256.4K | $17.0M | 1.1% | -1.5% |
| PGR PROGRESSIVE CORP | Financials | 66.4K | $13.2M | 0.9% | +159.4% |
| KHC KRAFT HEINZ CO/THE | Consumer staples | 105.3K | $2.4M | 0.2% | New |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 2 | $1.4M | 0.1% | +100.0% |
| AAPL APPLE INC | Technology | 2.4K | $609K | 0.0% | Held |
| HOMB HOME BANCSHARES INC | Financials | 12.1K | $326K | 0.0% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 10 | $1.51B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 15 | $1.43B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 12 | $1.24B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 12 | $1.23B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 12 | $1.22B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 10 | $1.18B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 7 | $1.46B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 7 | $1.39B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 7 | $1.51B | canonical | SEC ↗ |
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