Fairholme Capital Management
Based on Q4 2025 SEC Form 13F filings, Fairholme Capital Management manages a portfolio with 15 disclosed long equity positions. The fund's 13F market value sits at $1.40B, reflecting a positive quarter-over-quarter AUM development. Ranked by portfolio weight, the top holdings are ST JOE CO (JOE) at 80.43%, ENTERPRISE PRODS PARTNERS L (EPD) at 12.19%, and BANK OZK LITTLE ROCK ARK (OZK) at 2.93%. The fund is primarily focused on the Real Estate sector. New positions this quarter include PROGRESSIVE CORP (PGR) , CF INDS HLDGS INC (CF) , TARGET CORP (TGT) , and NATURAL RESOURCE PARTNERS L (NRP) . Fully exited positions include CORE NATURAL RESOURCES INC (CNR) . Ranked by the share of each peer fund's 13F equity portfolio that overlaps with Fairholme Capital Management's disclosed positions as of Q4 2025, the closest peers are H&H International Investment (74.0%), Chou Associates Management (44.5%), and Punch Card Management (36.4% overlap).
- 13F AUM
- $1.4B
- Equity Positions
- 15
- Top-10 Concentration
- 99.8%
- Largest Sector · 80.4%
- Real Estate
- Longest held · 40 qtrs
- JOE
- Median Holding Period
- 3 Qtrs
Top 10 HoldingsQ4 2025
Ranked by portfolio weight. Δ QoQ is the change in weight versus the previous reporting quarter.
| # | Ticker | Company | Sector | Shares | Weight | Δ QoQ | Market Value |
|---|---|---|---|---|---|---|---|
| 1 | JOE | Real Estate | 19,422,467 | 80.43% | +2.24% | $1.15B | |
| 2 | EPD | Energy | 5,450,400 | 12.19% | -1.57% | $174.7M | |
| 3 | OZK | Financial Services | 913,652 | 2.93% | -0.83% | $42.0M | |
| 4 | BRK/B | Financial Services | 48,012 | 1.68% | -0.28% | $24.1M | |
| 5 | WRB | Financial Services | 260,150 | 1.27% | -0.34% | $18.2M | |
| 6 | PGR | Financial Services | 25,600 | 0.41% | — | $5.8M | |
| 7 | CF | Basic Materials | 54,700 | 0.30% | — | $4.2M | |
| 8 | OXY | Energy | 69,100 | 0.20% | -0.07% | $2.8M | |
| 9 | ET | Energy | 166,600 | 0.19% | -0.04% | $2.7M | |
| 10 | TGT | TARGET CORPNEW | Consumer Defensive | 23,000 | 0.16% | — | $2.2M |
Quarterly shiftsvs previous quarter
Top movers in Fairholme Capital Management's Form 13F versus the prior reporting quarter. Δ Weight is the change in portfolio weight (percentage points); Δ Shares is the percent change in share count.
| Company | Ticker | Δ Weight | Δ Shares |
|---|---|---|---|
| ENTERPRISE PRODS PARTNERS L | EPD | -1.57% | +0.00% |
| BANK OZK LITTLE ROCK ARK | OZK | -0.83% | -0.22% |
| WR BERKLEY CORP | WRB | -0.34% | -0.50% |
| BERKSHIRE HATHAWAY INC DEL | BRK/B | -0.28% | -0.88% |
| OCCIDENTAL PETE CORP | OXY | -0.07% | +0.00% |
| Company | Ticker | New weight |
|---|---|---|
| PROGRESSIVE CORPNEW | PGR | 0.41% |
| CF INDS HLDGS INCNEW | CF | 0.30% |
| TARGET CORPNEW | TGT | 0.16% |
| NATURAL RESOURCE PARTNERS LNEW | NRP | 0.09% |
| Company | Ticker | Prev weight |
|---|---|---|
| CORE NATURAL RESOURCES INC | CNR | 0.03% |
Portfolio composition
Sectors, concentrations, and a tap-through treemap of every position in the fund's latest 13F.
Quarterly shifts
Top movers versus the prior reporting quarter. Left panel bridges market-value change in USD millions; right panel shows share-count change in %.
Holding period analytics
Distribution of holding periods for all 70 stocks the fund has ever held (up to selected quarter):
Peer Group — Funds With Most Portfolio Overlap
Ranked by percentage of the peer fund's 13F equity portfolio that overlaps with Fairholme Capital Management's positions in Q4 2025.
| # | Fund | Shared Positions | Overlap % |
|---|---|---|---|
| 1 | H&H International Investment | 3 | 74.0% |
| 2 | Chou Associates Management | 3 | 44.5% |
| 3 | Punch Card Management | 1 | 36.4% |
| 4 | Gates Foundation Trust | 1 | 27.6% |
| 5 | Berkshire Hathaway | 2 | 26.6% |
13F AUM Development
Quarterly 13F-reported equity AUM for Fairholme Capital Management, derived from aggregate long equity position market values disclosed to the U.S. SEC.
Methodology & FAQ
How We Track Fairholme Capital Management Holdings
Our data is systematically aggregated directly from quarterly Form 13F-HR disclosures submitted to the U.S. Securities and Exchange Commission (SEC).
- Who Must File (Reporting Threshold): This dataset includes filings from U.S. institutional investment managers, hedge funds, mutual funds, university endowments, and family offices managing at least $100 million in qualifying discretionary U.S. equities.
- What is Included (Data Scope): We exclusively capture long equity positions and listed options (calls and puts) for Fairholme Capital Management. By SEC regulation, 13F filings do not require the disclosure of short positions, non-U.S. holdings, or OTC derivatives.
- Portfolio Weight Explained (Metric Definition): “Portfolio Weight” shows how much of a fund's total 13F U.S. equity portfolio is allocated to a specific position on the reporting date.
- How to Use This Data (Interpretation): Quarter-over-quarter changes in shares and portfolio weight reflect a combination of active trading and market price movements. These are descriptive metrics of fund allocation, not explicit buy or sell signals.
How do you measure hedge fund conviction in Fairholme Capital Management's portfolio?
We evaluate conviction by looking at portfolio weight rather than just absolute share count. A position that represents a large percentage of a fund's total 13F equity value signals high conviction, regardless of whether it ranks highly in absolute dollar terms. Tracking how this weight changes quarter-over-quarter helps distinguish active capital allocation from passive drift.
Does Fairholme Capital Management's 13F data include short positions or derivatives?
SEC Form 13F only mandates the disclosure of long U.S. equity positions and listed options (put and call contracts). Short interest, swaps, and OTC derivatives are excluded by regulatory design. To ensure accurate position scaling, listed options are reported based on their underlying share equivalent.
Are family offices and endowments included in this data?
Yes. Any institutional entity exercising investment discretion over at least $100 million in qualifying U.S. equities must file a Form 13F — this explicitly includes single-family offices and university endowments. If a qualifying entity holds positions reported by Fairholme Capital Management, their allocation is included in this dataset.
When is the data updated, and is there a reporting lag?
Institutional investment managers are required to file their Form 13F within 45 days after the end of each calendar quarter (the standard “T+45” window). Our platform processes filings immediately upon publication to the SEC EDGAR database, providing point-in-time consensus positioning without look-ahead bias.
Data Source: Aggregated from public SEC Form 13F filings via the EDGAR database.