Bruce Berkowitz - Fairholme Capital Management Portfolio
| Period Date | Mar 31, 2025 | |
| Filing Date | May 15, 2025 | |
| Total Stocks | 12 | |
| Portfolio Value | $1.22B |
Fairholme Capital Management Strategy Analysis
Investment Strategy Metrics
Key metrics revealing investment style, risk management, and performance characteristics
| Metric | Value | Category | Description |
|---|---|---|---|
| Holding Period | 2.1 years | Style | Average duration positions are maintained |
| Position Count | 18 | Style | Number of active positions in portfolio |
| Position Size | 23.1% | Risk | Typical allocation per position |
| Win Rate | 59.1% | Performance | Percentage of profitable positions |
| Average Return | 916.6% | Performance | Mean return across positions |
| Sharpe Ratio | 0.12 | Performance | Return per unit of risk taken |
Investment Case Study: ST JOE CO (JOE)
9/30/2013 - 7/6/2025
Performance Metrics
Total Return: 119,806.74%
Holding Period: 4297 days
Max Position Size: $1,364,831,127.00
Position Weight: 60.96%
Key Events
9/30/2013: DECREASE(-7,300.00 shares) @ $0.02
12/31/2013: DECREASE(-147,129.00 shares) @ $0.02
3/31/2014: DECREASE(-16,300.00 shares) @ $0.02
6/30/2014: DECREASE(-10,306.00 shares) @ $0.03
9/30/2014: DECREASE(-27,400.00 shares) @ $0.02
12/31/2014: DECREASE(-30,100.00 shares) @ $0.02
3/31/2015: DECREASE(-31,200.00 shares) @ $0.02
6/30/2015: DECREASE(-123,280.00 shares) @ $0.02
9/30/2015: DECREASE(-170,478.00 shares) @ $0.02
12/31/2015: INCREASE(62,600.00 shares) @ $0.02
3/31/2016: DECREASE(-533,843.00 shares) @ $0.02
6/30/2016: INCREASE(467,200.00 shares) @ $0.02
9/30/2016: DECREASE(-5,100.00 shares) @ $0.02
12/31/2016: DECREASE(-16,040.00 shares) @ $0.02
3/31/2017: DECREASE(-28,100.00 shares) @ $0.02
6/30/2017: INCREASE(1,083,400.00 shares) @ $0.02
9/30/2017: INCREASE(1,517,928.00 shares) @ $0.02
12/31/2017: INCREASE(895,014.00 shares) @ $0.02
3/31/2018: DECREASE(-415,719.00 shares) @ $0.02
6/30/2018: DECREASE(-37,661.00 shares) @ $0.02
9/30/2018: DECREASE(-49,669.00 shares) @ $0.02
12/31/2018: DECREASE(-846,552.00 shares) @ $0.01
3/31/2019: DECREASE(-15,700.00 shares) @ $0.02
6/30/2019: DECREASE(-24,810.00 shares) @ $0.02
9/30/2019: DECREASE(-167,155.00 shares) @ $0.02
12/31/2019: DECREASE(-22,316.00 shares) @ $0.02
3/31/2020: INCREASE(196,352.00 shares) @ $0.02
6/30/2020: DECREASE(-22,736.00 shares) @ $0.02
9/30/2020: DECREASE(-47,176.00 shares) @ $0.02
12/31/2020: DECREASE(-14,000.00 shares) @ $0.04
3/31/2021: DECREASE(-684,800.00 shares) @ $0.04
9/30/2021: DECREASE(-502,467.00 shares) @ $0.04
12/31/2021: DECREASE(-155,600.00 shares) @ $0.05
3/31/2022: DECREASE(-470,900.00 shares) @ $0.06
6/30/2022: DECREASE(-146,800.00 shares) @ $0.04
12/31/2022: DECREASE(-181,342.00 shares) @ $38.65
3/31/2023: DECREASE(-147,000.00 shares) @ $41.61
6/30/2023: DECREASE(-361,000.00 shares) @ $48.34
9/30/2023: DECREASE(-1,068,700.00 shares) @ $54.33
12/31/2023: DECREASE(-32,600.00 shares) @ $60.18
3/31/2024: DECREASE(-166,000.00 shares) @ $57.97
6/30/2024: DECREASE(-992,981.00 shares) @ $54.70
9/30/2024: DECREASE(-374,100.00 shares) @ $58.31
12/31/2024: DECREASE(-528,600.00 shares) @ $44.93
3/31/2025: DECREASE(-410,600.00 shares) @ $46.95
Investment Thesis
Entry Context: Initial position established based on fundamental analysis
Sector Conditions: Favorable market conditions in the sector
Risk Factors:
- Market volatility
- Sector-specific risks
Key Learnings
- Position sizing is critical for portfolio management
- Important to monitor sector exposure