13F-HR 1 submission.txt 13FSUBMISSION2011Q3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 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 11-14-11 --------------------- ------------- ---------- [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: 26 Form 13F Information Table Value Total: $8,212,343 ----------- (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 2227524 101481743.00 SH Sole 98114451.00 3367292.00 AMERICAN INTL GROUP WTS WTS 026874156 146679 23967230.00 SH Sole 23024912.00 942318.00 ASSURED GUARANTY LTD. COM G0585R106 568 51700.00 SH Sole 51700.00 AT&T INC COM COM 00206R102 4563 160000.00 SH Sole 160000.00 BANCO SANTANDER SA- ADR COM 05964H105 4100 510000.00 SH Sole 510000.00 BANK OF AMERICA CORP. COM COM 060505104 642674 105012095.00 SH Sole 93654915.00 11357180.00 BANK OF AMERICA CORP. WTS WTS 060505146 16688 6157801.00 SH Sole 3237501.00 2920300.00 BERKSHIRE HATHAWAY INC DEL CL COM 084670108 432540 4050.00 SH Sole 4016.00 34.00 BERKSHIRE HATHAWAY INC DEL CL COM 084670702 525305 7394491.00 SH Sole 6387950.00 1006541.00 BROOKFIELD ASSET MGMT INC CL A COM 112585104 612888 22246400.00 SH Sole 22246400.00 CIT GROUP INC. COM 125581801 588230 19368769.00 SH Sole 18083229.00 1285540.00 CITIGROUP INC COM COM 172967424 638553 24924003.00 SH Sole 22333630.00 2590373.00 GOLDMAN SACHS GROUP, INC. COM 38141G104 2175 23000.00 SH Sole 11900.00 11100.00 JEFFERIES GROUP INC NEW COM COM 472319102 42810 3449611.00 SH Sole 3412211.00 37400.00 LEUCADIA NATL CORP COM COM 527288104 419515 18497150.00 SH Sole 15121150.00 3376000.00 MBIA INC COM COM 55262c100 352326 48463044.00 SH Sole 37311200.00 11151844.00 REGIONS FINANCIAL CORP COM 7591EP100 201694 60568917.00 SH Sole 56765104.00 3803813.00 ROYAL DUTCH SHELL PLC-ADR COM 780259206 4306 70000.00 SH Sole 70000.00 SEARS HLDGS CORP COM COM 812350106 935890 16270692.00 SH Sole 15447873.00 822819.00 ST JOE CO COM COM 790148100 384897 26471591.00 SH Sole 24625602.00 1845989.00 TELEFONICA S.A. ADR COM 879382208 4206 220000.00 SH Sole 220000.00 VERIZON COMMUNICATIONS INC COM COM 92343V104 4784 130000.00 SH Sole 130000.00 VODAFONE GROUP PLC - ADR COM 92857W209 7182 280000.00 SH Sole 280000.00 WELLS FARGO & CO NEW COM COM 949746101 757 31400.00 SH Sole 31400.00 WELLS FARGO & CO NEW WTS WTS 949746119 3263 423251.00 SH Sole 423251.00 WINTHROP RLTY TR SH BEN INT NE COM 976391300 8226 946648.00 SH Sole 946648.00