13F-HR 1 submission2011q1.txt 13FSUBMISSION2011Q1 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, 2011 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 05-16-11 --------------------- ------------- ---------- [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: 28 Form 13F Information Table Value Total: $14,440,522 ----------- (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 COM 026874784 1553118 44198015.00 SH Sole 42230665.00 1967350.00 AMERICAN INTL GROUP WTS WTS 026874156 264028 23722162.00 SH Sole 22671997.00 1050165.00 ASTRAZENECA PLC ADR COM 046353108 7149 155000.00 SH Sole 155000.00 AT&T INC COM COM 00206R102 19667 642700.00 SH Sole 642700.00 BANCO SANTANDER SA- ADR COM 05964H105 13156 1122500.00 SH Sole 1122500.00 BANK OF AMERICA CORPORATION CO COM 060505104 1235007 92648715.00 SH Sole 84630015.00 8018700.00 BERKSHIRE HATHAWAY INC DEL CL COM 084670108 503957 4022.00 SH Sole 4016.00 6.00 BERKSHIRE HATHAWAY INC DEL CL COM 084670702 657687 7864250.00 SH Sole 7283150.00 581100.00 BRISTOL-MYERS SQUIBB CO. COM 110122108 7321 277000.00 SH Sole 277000.00 BROOKFIELD ASSET MGMT INC CL A COM 112585104 892650 27500000.00 SH Sole 27500000.00 CISCO SYS INC COM COM 17275R102 614289 35818600.00 SH Sole 35575200.00 243400.00 CIT GROUP INC. COM 125581801 845146 19862429.00 SH Sole 18522829.00 1339600.00 CITIGROUP INC COM COM 172967101 1142316 258442600.00 SH Sole 238781300.00 19661300.00 ELI LILLY & CO. COM 532457108 7351 209000.00 SH Sole 209000.00 GLAXOSMITHKLINE PLC ADR COM 37733W105 7298 190000.00 SH Sole 190000.00 GOLDMAN SACHS GROUP, INC. COM 38141G104 1062113 6702300.00 SH Sole 6345300.00 357000.00 LEUCADIA NATL CORP COM COM 527288104 706911 18830881.00 SH Sole 15211549.00 3619332.00 MBIA INC COM COM 55262c100 414189 41253900.00 SH Sole 32026200.00 9227700.00 MORGAN STANLEY COM COM 617446448 1062510 38891300.00 SH Sole 36777900.00 2113400.00 REGIONS FINANCIAL CORP COM 7591EP100 900496 124035304.00 SH Sole 119744704.00 4290600.00 ROYAL DUTCH SHELL PLC-ADR COM 780259206 12743 174900.00 SH Sole 174900.00 RSC HOLDINGS, INC. COM 74972L102 170399 11849700.00 SH Sole 11110400.00 739300.00 SEARS HLDGS CORP COM COM 812350106 1348350 16313973.00 SH Sole 15407173.00 906800.00 SPIRIT AEROSYSTEMS HLDGS INC C COM 848574109 281084 10949900.00 SH Sole 10949900.00 ST JOE CO COM COM 790148100 649965 26727836.00 SH Sole 24704702.00 2023134.00 TELEFONICA S.A. ADR COM 879382208 20617 817500.00 SH Sole 817500.00 VERIZON COMMUNICATIONS INC COM COM 92343V104 20916 542700.00 SH Sole 542700.00 WINTHROP RLTY TR SH BEN INT NE COM 976391300 20089 1639948.00 SH Sole 1639948.00