Bruce Berkowitz - Fairholme Capital Management 13F Activity & Position Changes (Q4 2025)

As of Dec 31, 2025, the Fairholme Capital Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Feb 17, 2026. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q4 2025, the filing reported:

New Buys - CF Industries Holdings, Inc., Natural Resource Partners LP Li, Progressive Corporation (The), Target Corporation

Increases - None reported

Reductions - Berkshire Hathaway Inc. New, St. Joe Company (The), Bank OZK, W.R. Berkley Corporation

Complete Exits - Core Natural Resources

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q4 2025	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-425	-0.9%	$24.13M	48,012
Q4 2025	CEIX Core Natural Resources	Core Natural Resources	Sell - Position Exit	-5,000	-100.0%	$0.00	-
Q4 2025	CF CF Industries Holdings, Inc.	CF Industries Holdings, Inc.	Buy - Position Entry	+54,700	-	$4.23M	54,700
Q4 2025	JOE St. Joe Company (The)	St. Joe Company (The)	Sell	-155,900	-0.8%	$1.15B	19,422,467
Q4 2025	NRP Natural Resource Partners LP Li	Natural Resource Partners LP Li	Buy - Position Entry	+12,000	-	$1.25M	12,000
Q4 2025	OZK Bank OZK	Bank OZK	Sell	-2,000	-0.2%	$42.05M	913,652
Q4 2025	PGR Progressive Corporation (The)	Progressive Corporation (The)	Buy - Position Entry	+25,600	-	$5.83M	25,600
Q4 2025	TGT Target Corporation	Target Corporation	Buy - Position Entry	+23,000	-	$2.25M	23,000
Q4 2025	WRB W.R. Berkley Corporation	W.R. Berkley Corporation	Sell	-1,300	-0.5%	$18.24M	260,150