13F-HR 1 submission.txt 13F 2ND QUARTER 2006 SUBMISSION UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 2006 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: 51 JFK Parkway Short Hills, NJ 07078 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: 973-379-6557 Signature, Place, and Date of Signing: /s/Bruce R. Berkowitz Short Hills, NJ 08-11-06 --------------------- ------------- ---------- [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: 36 Form 13F Information Table Value Total: $2,651,580 ----------- (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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- ANNALY CAPITAL MGMT INC COM 035710409 64488 5034200.0000SH SOLE 3853500.0000 1180700.00 AUTONATION INC COM COM 05329W102 16080 750000.0000SH SOLE 750000.0000 BERKSHIRE HATHAWAY INC DEL CL COM 084670108 576443 6289.0000SH SOLE 4477.0000 1812.0000 BERKSHIRE HATHAWAY INC DEL CL COM 084670207 147662 48525.0000SH SOLE 19499.0000 29026.0000 CALUMET SPEC PROD PTNR UT LTD COM 131476103 23196 731044.0000SH SOLE 670964.0000 60080.0000 CANADIAN NATURAL RESOURCES COM 136385101 473852 8556368.0000SH SOLE 6389200.0000 2167168.00 CITIGROUP COM 172967101 299 6205.0000SH SOLE 5.0000 6200.0000 COCA COLA CO COM 191216100 748 17397.0000SH SOLE 77.0000 17320.0000 DAILY JOURNAL CORP COM COM 233912104 2278 59946.0000SH SOLE 48646.0000 11300.0000 DUKE ENERGY CORP COM COM 26441C105 56434 1921500.0000SH SOLE 1917800.0000 3700.0000 EASTMAN CHEM CO COM COM 277432100 5254 97300.0000SH SOLE 97300.0000 ECHOSTAR COMMUNICATIONS CORP C COM 278762109 405991 13177242.0000SH SOLE 10103424.0000 3073818.00 GYRODYNE CO AMER INC COM COM 403820103 593 11026.0000SH SOLE 770.0000 10256.0000 HOMEFED CORP COM 43739D307 21828 319826.0000SH SOLE 241295.0000 78531.0000 HSBC HLDGS PLC SPON ADR NEW COM 404280406 1489 16856.0000SH SOLE 133.0000 16723.0000 IDT CORP COM 448947101 20176 1528500.0000SH SOLE 1500600.0000 27900.0000 IDT CORP CL B COM 448947309 87583 6351200.0000SH SOLE 6290800.0000 60400.0000 INTL ASSETS HLDG CORP COM COM 459028106 232 14100.0000SH SOLE 14100.0000 LEUCADIA NATL COM 527288104 193141 6616682.0000SH SOLE 4103120.0000 2513562.00 MARKEL CORP COM 570535104 535 1541.0000SH SOLE 1.0000 1540.0000 MARSH & MCLENNAN COS INC COM 571748102 27078 1006993.0000SH SOLE 812000.0000 194993.000 MERCURY GENL CORP NEW COM 589400100 4741 84100.0000SH SOLE 300.0000 83800.0000 MERITOR SVGS BK PA COM COM 590007100 177 43645.0000SH SOLE 5000.0000 38645.0000 MICRON TECHNOLOGY INC COM 595112103 301 20000.0000SH SOLE 20000.0000 MOHAWK INDS INC COM 608190104 142135 2020400.0000SH SOLE 1636400.0000 384000.000 PHELPS DODGE CORP COM COM 717265102 39576 481700.0000SH SOLE 481700.0000 SAFETY INS GROUP INC COM COM 78648T100 47177 992166.0000SH SOLE 361366.0000 630800.000 SEARS HOLDINGS CORP COM 812350106 154201 995871.0000SH SOLE 757671.0000 238200.000 SYSTEMAX INC COM 871851101 269 34500.0000SH SOLE 34500.0000 TAL INTERNATIONAL GROUP INC COM 874083108 63227 2760997.0000SH SOLE 2760997.0000 USA MOBILITY INC COM 90341G103 44820 2700026.0000SH SOLE 2700026.0000 WELLS FARGO & CO COM 949746101 4830 72000.0000SH SOLE 50.0000 71950.0000 WELLSFORD REAL PPTYS COM COM 950240101 80 11306.0000SH SOLE 250.0000 11056.0000 WESCO FINL CORP COM COM 950817106 565 1482.0000SH SOLE 2.0000 1480.0000 WHITE MTNS INS GROUP LTD COM G9618E107 14475 29722.0000SH SOLE 22648.0000 7074.0000 WINTHROP REALTY TRUST INC COM 976391102 9626 1620617.0000SH SOLE 1111326.0000 509291.000