Fairholme Capital

Q1 2019 13F · by Bruce Berkowitz, CIO

As of: Mar 31, 2019
Filed: May 15, 2019
US stock: $473M · prev $367M
Positions: 3 · prev 3
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves4 since the prior filing

+5.6 pp in · −5.6 pp out

New 1 +5.60 pp
Added 0 0.00 pp
Trimmed 2 −5.51 pp
Exited 1 −0.09 pp

The book

Very concentrated · behaves like 1 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 2.6% a year, more than 30 years per position

Low
Moderate
High

Top 5 positions100% of US stock

JOE St. Joe Company trimmed−2.90 pp trimmed−2.9092.4%
BRK.B BERKSHIRE HATHAWAY Class B new+5.60 pp new+5.605.6%
VSTO Vista Outdoor Inc. trimmed−2.61 pp trimmed−2.612.0%

Positions3 in this filing · 1 exited


JOESt. Joe Company	92.44%	26,532,198	$438M	trimmed−0%	−2.90 pp	24 q
BRK.BBERKSHIRE HATHAWAY Class B	5.60%	131,825	$26M	new	+5.60 pp	new
VSTOVista Outdoor Inc.	1.96%	1,159,000	$9M	trimmed−21%	−2.61 pp	5 q
JEFJefferies Financial Group Inc.	—	−19,500	—	exited	−0.09 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0000919574-19-003726
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet