13F-HR 1 submission.txt 13F 1Q2009 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2009 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 05-14-09 --------------------- ------------- ---------- [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: 33 Form 13F Information Table Value Total: $5,522,513 ----------- (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 324572 23813050.000 SH Sole 22318050.000 1495000.00 AMERICREDIT CORP COM COM 03060R101 189321 32307322.000 SH Sole 25673517.000 6633805.00 BERKSHIRE HATHAWAY INC DEL CL COM 084670108 1040 12.000 SH Sole 12.00 BOEING CO COM COM 097023105 310355 8722727.000 SH Sole 7806419.000 916308.00 BRISTOL MYERS SQUIBB CO COM COM 110122108 870 39700.000 SH Sole 39700.00 CALUMET SPECIALTY PRODS PTNRS COM 131476103 318 29200.000 SH Sole 29200.00 CANADIAN NAT RES LTD COM COM 136385101 51272 1329669.906 SH Sole 566683.000 762986.91 COCA COLA CO COM COM 191216100 567 12900.000 SH Sole 12900.00 DAILY JOURNAL CORP COM COM 233912104 679 18850.000 SH Sole 18850.00 FOREST LABS INC COM COM 345838106 440680 20067400.000 SH Sole 17892390.000 2175010.00 GENERAL DYNAMICS CORP COM COM 369550108 86428 2078100.000 SH Sole 2078100.000 GYRODYNE CO AMER INC COM COM 403820103 237 10256.000 SH Sole 10256.00 HERTZ GLOBAL HOLDINGS INC COM COM 42805T105 167961 42738138.000 SH Sole 33684829.000 9053309.00 HOMEFED CORP COM PAR $.01 COM 43739D307 2446 163056.000 SH Sole 44001.000 119055.00 HSBC HLDGS PLC SPON ADR NEW COM 404280406 554 19648.000 SH Sole 188.000 19460.00 HUMANA INC COM COM 444859102 176238 6757600.000 SH Sole 6757600.000 LEUCADIA NATL CORP COM COM 527288104 271728 18249025.000 SH Sole 13720352.000 4528673.00 MARKEL CORP COM COM 570535104 213 750.000 SH Sole 750.00 NORTHROP GRUMMAN CORP COM COM 666807102 319431 7319676.000 SH Sole 6639616.000 680060.00 PENN WEST ENERGY TR TR UNIT COM 707885109 144 15129.154 SH Sole 15129.15 PFIZER INC COM COM 717081103 1201856 88241991.000 SH Sole 80292974.000 7949017.00 SEARS HLDGS CORP COM COM 812350106 655433 14338939.000 SH Sole 13321571.000 1017368.00 SEARS HOLDING CLL OPT 60.0000 LEA 8123529AL 1892 41400.000 SH Sole 41400.00 SPIRIT AEROSYSTEMS HLDGS INC C COM 848574109 189550 19012064.000 SH Sole 17749125.000 1262939.00 ST JOE CO COM COM 790148100 308959 18456326.000 SH Sole 16869732.000 1586594.00 TAL INTL GROUP INC COM COM 874083108 17837 2436697.000 SH Sole 2436697.000 UNITED RENTALS INC COM COM 911363109 43111 10240205.000 SH Sole 8638083.000 1602122.00 UNITEDHEALTH GROUP INC COM COM 91324P102 275397 13158010.000 SH Sole 11705851.000 1452159.00 WELLCARE HEALTH PLANS INC COM COM 94946T106 91512 8134413.000 SH Sole 5425932.000 2708481.00 WELLPOINT INC COM COM 94973V107 382040 10061624.000 SH Sole 8224064.000 1837560.00 WESCO FINL CORP COM COM 950817106 270 980.000 SH Sole 980.00 WHITE MTNS INS GROUP LTD COM COM G9618E107 1250 7274.000 SH Sole 7274.000 WINTHROP RLTY TR SH BEN INT COM 976391300 8352 1208677.845 SH Sole 158282.177 1050395.67