13F-HR 1 submission.txt 13F FILING DECEMBER 31, 2009 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2008 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Fairholme Capital Management, L.L.C. Address: 4400 Biscayne Blvd, 9th Floor Miami, FL 33137 Form 13F File Number: 28-6994 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Bruce R. Berkowitz Title: Managing Member Phone: 305-358-3000 Signature, Place, and Date of Signing: /s/Bruce R. Berkowitz Miami, FL 02-13-09 --------------------- ------------- ---------- [Signature] [City, State] [Date] Report Type (Check only one.): [x] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: [If there are no entries in this list, omit this section.] Form 13F File Number Name 28-______________ _______________________________ [Repeat as necessary. Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: Form 13F Information Table Entry Total: 39 Form 13F Information Table Value Total: $7,125,766 ----------- (thousands) List of Other Included Managers: NONE Profice a numbered list of the names(s) and Form 13F file numbers(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- AMERICAN EXPRESS CO COM COM 025816109 251101 13536450.0000 SH Sole 12993150.0000 543300.000 AMERICREDIT CORP COM COM 03060R101 246828 32307322.0000 SH Sole 26166169.0000 6141153.00 BERKSHIRE HATHAWAY INC DEL CL COM 084670108 1449 15.0000 SH Sole 15.0000 BERKSHIRE HATHAWAY INC DEL CL COM 084670207 389 121.0000 SH Sole 11.0000 110.0000 BOEING CO COM COM 097023105 385772 9040828.0000 SH Sole 7963619.0000 1077209.00 BRISTOL MYERS SQUIBB CO COM COM 110122108 1123 48300.0000 SH Sole 48300.0000 CALUMET SPECIALTY PRODS PTNRS COM 131476103 357 40800.0000 SH Sole 40800.0000 CANADIAN NAT RES LTD COM COM 136385101 427778 10699795.9060 SH Sole 9007383.0000 1692412.90 COCA COLA CO COM COM 191216100 584 12900.0000 SH Sole 12900.0000 DAILY JOURNAL CORP COM COM 233912104 646 18850.0000 SH Sole 18850.0000 DISH NETWORK CORP CL A COM 25470M109 34550 3115452.0000 SH Sole 3093106.0000 22346.0000 FOREST LABS INC COM COM 345838106 520538 20437332.0000 SH Sole 17924781.0000 2512551.00 GENERAL DYNAMICS CORP COM COM 369550108 131196 2278100.0000 SH Sole 2278100.0000 GYRODYNE CO AMER INC COM COM 403820103 276 11026.0000 SH Sole 11026.0000 HERTZ GLOBAL HOLDINGS INC COM COM 42805T105 173398 34200829.0000 SH Sole 24288814.0000 9912015.00 HOMEFED CORP COM PAR $.01 COM 43739D307 3002 181928.0000 SH Sole 44001.0000 137927.000 HSBC HLDGS PLC SPON ADR NEW COM 404280406 917 18847.0000 SH Sole 133.0000 18714.0000 HUMANA INC COM COM 444859102 304786 8175600.0000 SH Sole 8175600.0000 JEFFERIES GROUP INC NEW COM COM 472319102 60706 4317644.0000 SH Sole 4317644.0000 LEUCADIA NATL CORP COM COM 527288104 355785 17968944.0000 SH Sole 13148848.0000 4820096.00 MARKEL CORP COM COM 570535104 224 750.0000 SH Sole 750.0000 MERCURY GENL CORP NEW COM COM 589400100 237 5150.0000 SH Sole 150.0000 5000.0000 MERITOR SVGS BK PA COM COM 590007100 109 43645.0000 SH Sole 43645.0000 MUELLER WTR PRODS INC COM SER COM 624758207 58729 6958400.0000 SH Sole 6957800.0000 600.0000 NORTHROP GRUMMAN CORP COM COM 666807102 404134 8972778.0000 SH Sole 8195016.0000 777762.000 PENN WEST ENERGY TR TR UNIT COM 707885109 168 15129.1540 SH Sole 15129.1540 PFIZER INC COM COM 717081103 1584968 89495624.0000 SH Sole 80211874.0000 9283750.00 SEARS HLDGS CORP COM COM 812350106 497526 12799740.0000 SH Sole 11718471.0000 1081269.00 SEARS HOLDING CLL OPT 60.0000 LEA 8123529AL 454 156600.0000 SH Sole 156600.00 SPIRIT AEROSYSTEMS HLDGS INC C COM 848574109 159607 15693989.0000 SH Sole 14365653.0000 1328336.00 ST JOE CO COM COM 790148100 273421 11242676.0000 SH Sole 9921816.0000 1320860.00 TAL INTL GROUP INC COM COM 874083108 34357 2436697.0000 SH Sole 2436697.0000 UNITED RENTALS INC COM COM 911363109 96711 10604310.0000 SH Sole 8637657.0000 1966653.00 UNITEDHEALTH GROUP INC COM COM 91324P102 484968 18231878.0000 SH Sole 15522051.0000 2709827.00 WELLCARE HEALTH PLANS INC COM COM 94946T106 106910 8313407.0000 SH Sole 5376233.0000 2937174.00 WELLPOINT INC COM COM 94973V107 506236 12016057.0000 SH Sole 9849264.0000 2166793.00 WESCO FINL CORP COM COM 950817106 282 980.0000 SH Sole 980.0000 WHITE MTNS INS GROUP LTD COM COM G9618E107 1943 7274.0000 SH Sole 7274.0000 WINTHROP RLTY TR SH BEN INT COM 976391300 13601 1254716.8000 SH Sole 182927.2000 1071788.80