Bruce Berkowitz runs Fairholme Capital Management LLC, a concentrated book of 10 stocks worth $1.5B as of Q1 2026 (disclosed May 15, 2026, a ~45-day 13F lag). This quarter they opened Kraft Heinz Co and trimmed ST Joe Co. Their largest long position is ST Joe Co at 80% of the equity book.
Top-heavy: concentrated book
Share of the disclosed book in its largest positions. A higher top-5 share means a more concentrated, higher-conviction portfolio.
97% mapped to company sectors
Direct operating-company sectors from our SIC-based security master. ETF/fund and unclassified holdings stay visible separately; this is not ETF look-through exposure.
Estimated $ traded · quarter-end prices, no cost basis
10 companies · Q1 2026
| # | Stock | % of book | Value | Shares | Last move |
|---|---|---|---|---|---|
| 1 | ST Joe CoJOE | 79.7% | $1.2B | 19.2M | ▼−1.1% Reduced · −212K sh |
| 2 | Enterprise Products PartnersEPD | 13.6% | $206.4M | 5.5M | ▲+0.1% Added · +5K sh |
| 3 | Bank OzkOZK | 2.8% | $42.3M | 921K | ▲+0.8% Added · +8K sh |
| 4 | Berkshire Hathaway Inc-CL BBRK/B | 1.6% | $24.2M | 50K | ▲+5.1% Added · +2K sh |
| 5 | WR Berkley CorpWRB | 1.1% | $17.0M | 256K | ▼−1.5% Reduced · −4K sh |
| 6 | Progressive CorpPGR | 0.9% | $13.2M | 66K | ▲+159% Added · +41K sh |
| 7 | Kraft Heinz CoKHC | 0.2% | $2.4M | 105K | ▲New +105K sh |
| 8 | Berkshire Hathaway Inc-CL ABRK/A | 0.1% | $1.4M | 2 | ▲+100% Added · +1 sh |
| 9 | Apple IncAAPL | 0.0% | $609K | 2K | —Held |
| 10 | Home Bancshares IncHOMB | 0.0% | $326K | 12K | ▲New +12K sh |
| 11 | Target CorpTGT | 0.0% | $0 | — | ▼−100% Exited |
| 12 | CF Industries Holdings IncCF | 0.0% | $0 | — | ▼−100% Exited |
| 13 | Diamondback Energy IncFANG | 0.0% | $0 | — | ▼−100% Exited |
| 14 | Eog Resources IncEOG | 0.0% | $0 | — | ▼−100% Exited |
| 15 | Energy Transfer LPET | 0.0% | $0 | — | ▼−100% Exited |
| 16 | Natural Resource Partners LPNRP | 0.0% | $0 | — | ▼−100% Exited |
| 17 | Occidental Petroleum CorpOXY | 0.0% | $0 | — | ▼−100% Exited |
1 vehicle
Aggregated from SEC Form 13F filings (institutional long equity positions, reported quarterly, up to 45 days after quarter-end). Holdings are public domain, sourced to SEC EDGAR. The book totals, weighting, concentration and sectors are long equity only; disclosed put/call options are listed separately and excluded from those figures. Price-derived performance is withheld until the price-source policy and freshness gate are green. Every panel is one call to the Arkolith API & MCP server.