Great investors · Bruce Berkowitz · Q2 2025
What Bruce Berkowitz bought and sold in Q2 2025
Fairholme 13F portfolio as of Jun 30, 2025: 12 positions worth $1.2 bn. Largest: JOE, EPD, OZK, BRK/B. Filed with the SEC on Aug 14, 2025.
The 13F is filed by Fairholme, not by Bruce Berkowitz personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q2 2025
- IncreasedBank OZK Little Rock ARKOZK+1.1 pp
Sells in Q2 2025
No sale of 0.5 points of the portfolio or more this quarter.
1 company with a material move, out of 2 positions with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
Fairholme's Q2 2025 13F lists 12 lines of US-listed securities worth $1.2 bn; the largest is JOE at 78.5% of the portfolio. It was accepted by the SEC on Aug 14, 2025 at 4:36 PM ET.
Against the previous quarter, it opened no new positions, closed none, added to 2 (OZK and OXY) and trimmed none. 10 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | St JOE JOE | 20.2 M | $964M | 78.5% | no change |
| 2 | Enterprise Products Partners EPD | 5.5 M | $169M | 13.8% | no change |
| 3 | Bank OZK Little Rock ARK OZK | 916,752 | $43.1M | 3.52% | +45% |
| 4 | Berkshire Hathaway BRK/B | 48,597 | $23.6M | 1.92% | no change |
| 5 | Berkley W R WRB | 261,450 | $19.2M | 1.57% | no change |
| 6 | Energy Transfer ET | 166,600 | $3.0M | 0.25% | no change |
| 7 | Occidental Petroleum OXY | 69,100 | $2.9M | 0.24% | +27% |
| 8 | Berkshire Hathaway BRK/A | 1 | $729K | 0.06% | no change |
| 9 | Diamondback Energy FANG | 4,000 | $550K | 0.04% | no change |
| 10 | Apple AAPL | 2,400 | $495K | 0.04% | no change |
| 11 | Core Natural Resources CNR | 5,000 | $349K | 0.03% | no change |
| 12 | EOG Resources EOG | 2,000 | $239K | 0.02% | no change |
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
Original documents: Fairholme's 13F filings on EDGAR (SEC) ↗
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.