Bruce Berkowitz’s Fairholme Capital Management reported an equity portfolio of approximately $1.2–1.3 billion in the latest quarter, continuing its hallmark approach: a highly concentrated, value-oriented portfolio focused on a small number of deeply researched positions. The portfolio remains dominated by a few core holdings — most notably real estate development, energy infrastructure, and financials — reflecting Berkowitz’s long-standing willingness to run substantial single-name exposure when conviction ...