Fairholme Capital Management 13F annual report
Fairholme Capital Management is an investment fund managing more than $1.21 trillion ran by Erica Kapahi. There are currently 10 companies in Mrs. Kapahi’s portfolio. The largest investments include St. Joe Co and Enterprise Prods Partners L, together worth $1.11 trillion.
$1.21 trillion Assets Under Management (AUM)
As of 8th May 2023, Fairholme Capital Management’s top holding is 24,141,448 shares of St. Joe Co currently worth over $1 trillion and making up 83.1% of the portfolio value.
Relative to the number of outstanding shares of St. Joe Co, Fairholme Capital Management owns more than 0.4% of the company.
In addition, the fund holds 4,182,800 shares of Enterprise Prods Partners L worth $108 billion.
The third-largest holding is Commercial Metals Co worth $62.2 billion and the next is Berkshire Hathaway worth $18.9 billion, with 59,566 shares owned.
Currently, Fairholme Capital Management's portfolio is worth at least $1.21 trillion. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Fairholme Capital Management
The Fairholme Capital Management office and employees reside in South Miami, Florida. According to the last 13-F report filed with the SEC, Erica Kapahi serves as the Chief Compliance Officer at Fairholme Capital Management.
Recent trades
In the most recent 13F filing, Fairholme Capital Management revealed that it had opened a new position in
Magellan Midstream Prtnrs Lp and bought 28,600 shares worth $1.55 billion.
The investment fund also strengthened its position in Enterprise Prods Partners L by buying
590,000 additional shares.
This makes their stake in Enterprise Prods Partners L total 4,182,800 shares worth $108 billion.
On the other hand, there are companies that Fairholme Capital Management is getting rid of from its portfolio.
Fairholme Capital Management closed its position in Kinder Morgan Inc on 15th May 2023.
It sold the previously owned 786,600 shares for $13.2 million.
Erica Kapahi also disclosed a decreased stake in St. Joe Co by approximately 0.1%.
This leaves the value of the investment at $1 trillion and 24,141,448 shares.
One of the largest hedge funds
The two most similar investment funds to Fairholme Capital Management are Casdin Capital and Cambria Investment Management, L.P.. They manage $1.21 trillion and $1.21 trillion respectively.
Erica Kapahi investment strategy
Fairholme Capital Management’s portfolio is diversified across 7 sectors.
Currently, their heaviest sector is Real Estate — making up 83.1% of
the total portfolio value.
The fund focuses on investments in the United States as
70.0% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
50% of the total holdings value.
On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio.
The average market cap of the portfolio companies is close to $413 billion.
The complete list of Fairholme Capital Management trades based on 13F SEC filings
These positions were updated on May 15th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| St. Joe Co. |
1.34%
24,141,448
|
$1,004,525,651,000 | 83.08% |
| Enterprise Prods Partners L |
16.42%
4,182,800
|
$108,334,520,000 | 8.96% |
| Commercial Metals Co. |
44.44%
1,272,900
|
$62,244,810,000 | 5.15% |
| Berkshire Hathaway Inc. |
20.76%
59,566
|
$18,857,485,000 | 1.56% |
| Citigroup Inc |
53.10%
82,500
|
$3,868,425,000 | 0.32% |
| Energy Transfer L P |
No change
268,700
|
$3,350,689,000 | 0.28% |
| Intel Corp. |
83.94%
94,500
|
$3,087,315,000 | 0.26% |
| Walgreens Boots Alliance Inc |
7.25%
74,000
|
$2,558,920,000 | 0.21% |
| Magellan Midstream Prtnrs Lp |
Opened
28,600
|
$1,551,836,000 | 0.13% |
| Apple Inc |
No change
4,260
|
$702,474,000 | 0.06% |
| Kinder Morgan Inc |
Closed
786,600
|
$13,183,000 | |
| Old Rep Intl Corp |
Closed
316,100
|
$7,068,000 | |
| D.R. Horton Inc. |
Closed
71,000
|
$4,699,000 | |
| Alibaba Group Hldg Ltd |
Closed
16,290
|
$1,852,000 | |
| West Fraser Timber Co Ltd |
Closed
11,000
|
$844,000 | |
| No transactions found | |||
| Showing first 500 out of 15 holdings | |||
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