Bruce Berkowitz’s top 5 positions make up 99.31% of his current portfolio, signaling a highly concentrated investment approach. His largest holding, St. Joe Co (JOE), alone accounts for more than three-quarters of his entire portfolio. Below is a detailed breakdown of each of the top 5 positions, including shares held, value, portfolio weight, and commentary.
St. Joe Co (JOE)
- Shares: 20,206,867
- Value: $948.71M
- Portfolio %: 78.07%
- Change in Shares: -410,600
- % Change in Shares: -1.99%
Analysis: Berkowitz’s dominant position in St. Joe reflects deep conviction in Florida real estate development. His long-term association with the company points to a belief in demographic tailwinds, land value appreciation, and potential upside from continued growth in the southeastern U.S.
Enterprise Products Partners (EPD)
- Shares: 5,450,400
- Value: $186.08M
- Portfolio %: 15.31%
- Change in Shares: +1,500
- % Change in Shares: +0.03%
Analysis: EPD offers steady distributions through its midstream energy infrastructure. Berkowitz’s stable stake suggests a desire for income-producing assets, likely due to the partnership’s consistent cash flows and exposure to U.S. energy logistics.
Bank OZK (OZK)
- Shares: 631,602
- Value: $27.44M
- Portfolio %: 2.26%
- Change in Shares: -11,800
- % Change in Shares: -1.83%
Analysis: A regional bank known for its conservative underwriting, Bank OZK represents a modest bet on the financial sector. The slight trim may reflect portfolio rebalancing or caution amid macro uncertainty in real estate lending.
Berkshire Hathaway Inc. Class B (BRK.B)
- Shares: 48,717
- Value: $25.95M
- Portfolio %: 2.14%
- Change in Shares: 0
- % Change in Shares: 0.00%
Analysis: A passive but symbolic position, Berkshire aligns with Berkowitz’s value-driven philosophy. The stake suggests admiration for Buffett’s diversified conglomerate and the safety it offers during volatile periods.
WR Berkley Corp (WRB)
- Shares: 261,450
- Value: $18.60M
- Portfolio %: 1.53%
- Change in Shares: 0
- % Change in Shares: 0.00%
Analysis: This insurer adds a layer of exposure to financial services through underwriting and specialty insurance. The consistent stake signals confidence in the sector’s long-term fundamentals and WRB’s disciplined capital management.
For all the latest news and podcasts, join our free newsletter here.
Don’t forget to check out our FREE Large Cap 1000 – Stock Screener, here at The Acquirer’s Multiple:
