Exploring the Latest Investment Adjustments by Bruce Berkowitz (Trades, Portfolio)

Fairholme Fund (Trades, Portfolio) recently submitted its N-PORT filing for the fourth quarter of 2024, shedding light on its strategic investment decisions during this period. Managed by its founder, Bruce Berkowitz (Trades, Portfolio), the fund has a remarkable track record, gaining 253% in the first decade since its inception in 1999, while the S&P 500 lost money. This portfolio is distinct from the broader portfolio under Berkowitz's name, which encompasses various accounts and funds he manages. Known for his concentrated investment approach, Berkowitz seeks companies with strong management and cash flow, adhering to his motto: "Ignore the Crowd."

Summary of New Buy

Fairholme Fund (Trades, Portfolio) added a total of one stock to its portfolio this quarter:

• The most significant addition was Energy Transfer LP (ET, Financial), with 852,900 shares, accounting for 1.66% of the portfolio and a total value of $16.94 million.

Key Position Increases

Fairholme Fund (Trades, Portfolio) also increased its stakes in one stock:

• The most notable increase was in Bank OZK (OZK, Financial), with an additional 2,500 shares, bringing the total to 43,000 shares. This adjustment represents a significant 6.17% increase in share count, a 0.01% impact on the current portfolio, and a total value of $2,148,710.

Key Position Reduces

Fairholme Fund (Trades, Portfolio) reduced its position in two stocks, with the most significant changes being:

• Reduced The St. Joe Co (JOE, Financial) by 526,600 shares, resulting in a -2.95% decrease in shares and a -2.7% impact on the portfolio. The stock traded at an average price of $55.62 during the quarter and has returned -7.54% over the past three months and 8.80% year-to-date.
• Reduced Imperial Metals Corp (TSX:III, Financial) by 99,100 shares, resulting in a -1.73% reduction in shares and a -0.01% impact on the portfolio. The stock traded at an average price of C$2.13 during the quarter and has returned -7.55% over the past three months and 7.69% year-to-date.

Portfolio Overview

As of the fourth quarter of 2024, Fairholme Fund (Trades, Portfolio)'s portfolio included six stocks. The top holdings were:

• 87.06% in The St. Joe Co (JOE, Financial)
• 9.99% in Enterprise Products Partners LP (EPD, Financial)
• 1.66% in Energy Transfer LP (ET, Financial)
• 0.84% in Imperial Metals Corp (TSX:III, Financial)
• 0.23% in Federal National Mortgage Association Fannie Mae (FNMA, Financial)

The holdings are primarily concentrated in four of the eleven industries: Real Estate, Energy, Basic Materials, and Financial Services.

This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.