13F-HR 1 submission2010q4.txt 4Q 2010 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, 2010 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 02-14-11 --------------------- ------------- ---------- [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: 24 Form 13F Information Table Value Total: $15,786,857 ----------- (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 INTL GROUP COM 026874784 2551759 44285986.00 SH Sole 42232265.00 2053721.0 AT&T INC COM 00206R102 275605 9380700.00 SH Sole 9314100.00 66600.0 BANCO SANTANDER SA- ADR 05964H105 50494 4741200.00 SH Sole 4724700.00 16500.0 BANK OF AMERICA CORPORATION CO 060505104 1229141 92139515.00 SH Sole 83930815.00 8208700.0 BERKSHIRE HATHAWAY INC DEL CL 084670108 484450 4022.00 SH Sole 4016.00 6.0 BERKSHIRE HATHAWAY INC DEL CL 084670702 548217 6843300.00 SH Sole 6218250.00 625050.0 CIT GROUP INC. 125581801 941837 19996529.00 SH Sole 18530329.00 1466200.0 CITIGROUP INC COM 172967101 1121658 237137000.00 SH Sole 215816700.00 21320300.0 GENERAL ELECTRIC CORP COM 369604103 291780 15953000.00 SH Sole 15921200.00 31800.0 GENERAL GROWTH PROPERTIES, INC 370023103 1758532 113600256.00 SH Sole 113600256.00 GOLDMAN SACHS GROUP, INC. 38141G104 990277 5888900.00 SH Sole 5501600.00 387300.0 HUMANA INC COM 444859102 454 8300.00 SH Sole 8300.0 LEUCADIA NATL CORP COM 527288104 554651 19007921.00 SH Sole 15069849.00 3938072.0 MBIA INC COM 55262c100 461047 38452600.00 SH Sole 29028200.00 9424400.0 MORGAN STANLEY COM 617446448 1049827 38582400.00 SH Sole 36286300.00 2296100.0 REGIONS FINANCIAL CORP 7591EP100 871200 124457204.00 SH Sole 119765404.00 4691800.0 ROYAL DUTCH SHELL PLC-ADR 780259206 11680 174900.00 SH Sole 174900.00 RSC HOLDINGS, INC. 74972L102 142580 14638600.00 SH Sole 12224800.00 2413800.0 SEARS HLDGS CORP COM 812350106 1100193 14917873.00 SH Sole 13946173.00 971700.0 SPIRIT AEROSYSTEMS HLDGS INC C 848574109 361547 17373700.00 SH Sole 17373700.00 ST JOE CO COM 790148100 585320 26788120.00 SH Sole 24704702.00 2083418.0 VERIZON COMMUNICATIONS INC COM 92343V104 264858 7402400.00 SH Sole 7368000.00 34400.0 WELLCARE HEALTH PLANS INC COM 94946T106 107879 3569800.00 SH Sole 3569800.00 WINTHROP REALTY TRUST 976391300 31871 2491848.00 SH Sole 2491848.00