Fairholme Capital

Q3 2019 13F · by Bruce Berkowitz, CIO

As of: Sep 30, 2019
Filed: Nov 14, 2019
US stock: $475M · prev $467M
Positions: 4 · 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

+3.8 pp in · −3.8 pp out

New 1 +3.81 pp
Added 0 0.00 pp
Trimmed 3 −3.81 pp
Exited 0 0.00 pp

The book

Very concentrated · behaves like 1 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 4.0% a year, about 25.3 years per position

Low
Moderate
High

Top 5 positions100% of US stock

JOE St. Joe Company trimmed−3.02 pp trimmed−3.0295.0%
KHC The Kraft Heinz Company new+3.81 pp new+3.813.8%
BRK.B BERKSHIRE HATHAWAY Class B trimmed−0.12 pp trimmed−0.120.7%
VSTO Vista Outdoor Inc. trimmed−0.67 pp trimmed−0.670.5%

Positions4 in this filing · 0 exited


JOESt. Joe Company	94.99%	26,340,233	$451M	trimmed−1%	−3.02 pp	26 q
KHCThe Kraft Heinz Company	3.81%	647,300	$18M	new	+3.81 pp	new
BRK.BBERKSHIRE HATHAWAY Class B	0.72%	16,490	$3M	trimmed−10%	−0.12 pp	3 q
VSTOVista Outdoor Inc.	0.48%	370,500	$2M	trimmed−39%	−0.67 pp	7 q

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0000919574-19-007285
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet