Great investors · Bruce Berkowitz · Q1 2026
What Bruce Berkowitz bought and sold in Q1 2026
Fairholme 13F portfolio as of Mar 31, 2026: 10 positions worth $1.5 bn. Largest: JOE, EPD, OZK, BRK/B. Filed with the SEC on May 15, 2026.
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 Q1 2026
- IncreasedProgressivePGR+0.5 pp
Sells in Q1 2026
- ReducedSt JOEJOE−0.9 pp
2 companies with material moves, out of 14 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 Q1 2026 13F lists 10 lines of US-listed securities worth $1.5 bn; the largest is JOE at 79.7% of the portfolio. It was accepted by the SEC on May 15, 2026 at 4:23 PM ET.
Against the previous quarter, it opened 2 positions (KHC and HOMB), closed 7 (CF, OXY, ET and TGT and 3 more), added to 3 (PGR, BRK/A and BRK/B) and trimmed 2 (JOE and WRB). 3 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | St JOE JOE | 19.2 M | $1.2 bn | 79.7% | −1.1% |
| 2 | Enterprise Products Partners EPD | 5.5 M | $206M | 13.6% | no change |
| 3 | Bank OZK Little Rock ARK OZK | 921,252 | $42.3M | 2.79% | no change |
| 4 | Berkshire Hathaway BRK/B | 50,452 | $24.2M | 1.60% | +5.1% |
| 5 | Berkley W R WRB | 256,350 | $17.0M | 1.12% | −1.5% |
| 6 | Progressive PGR | 66,400 | $13.2M | 0.87% | +159% |
| 7 | Kraft Heinz KHC | 105,300 | $2.4M | 0.16% | new |
| 8 | Berkshire Hathaway BRK/A | 2 | $1.4M | 0.09% | +100% |
| 9 | Apple AAPL | 2,400 | $609K | 0.04% | no change |
| 10 | Home Bancshares HOMB | 12,100 | $326K | 0.02% | new |
Positions it closed (7)
- CF Industries Holdings CFwas 0.30% · 54,700 shares
- Occidental Petroleum OXYwas 0.20% · 69,100 shares
- Energy Transfer ETwas 0.19% · 166,600 shares
- Target TGTwas 0.16% · 23,000 shares
- Natural Resource Partners NRPwas 0.09% · 12,000 shares
- Diamondback Energy FANGwas 0.04% · 4,000 shares
- EOG Resources EOGwas 0.01% · 2,000 shares
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.