13F filing recap · Q4 2025

What did Fairholme Capital Management buy in Q4 2025?

Reported stock-position changes between this filing and the previous one. US-listed stocks across every Fairholme account, including accounts that belong to no fund below.

Stock value

$1.43B

Positions

Estimated turnover

1.8%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Quarter in review

Fairholme Capital Management opened new positions in Progressive, CF Industries Holdings, Target, and Natural Resource Partners. The firm exited Core Natural Resources entirely. It also slightly trimmed The St. Joe Company, Bank OZK, Berkshire Hathaway, and W. R. Berkley.

New positions

PGRProgressive Corp/oh/$5.83Mreported value+25.6K shares CFCf Industries Holdings, Inc.$4.23Mreported value+54.7K shares TGTTarget Corporation$2.25Mreported value+23.0K shares NRPNatural Resource Partners LP$1.25Mreported value+12.0K shares

Reduced positions

JOEThe St. Joe Company$1.15Breported value-155.9K shares-0.8%OZKBank Ozk$42.05Mreported value-2.0K shares-0.2%BRK.BBerkshire Hathaway Inc$24.13Mreported value-425 shares-0.9%WRBW. R. Berkley Corp$18.24Mreported value-1.3K shares

Exited positions

CNRCore Natural Resources, Inc.$417.4Kprior reported value-5.0K shares-100.0%