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FAIRX Fairholme

  • Fund
  • FAIRX
  • Price as of: Dec 14, 2018
  • $15.28
  • - $0.46
  • - 2.92%
  • Category
  • Large Cap Value Equities

FAIRX - Profile

Vitals

  • YTD Return -24.1%
  • 3 Yr Annualized Return -5.1%
  • 5 Yr Annualized Return -4.2%
  • Net Assets $1.07 B
  • Holdings in Top 10 71.4%

52 WEEK LOW AND HIGH

$15.28
$15.28
$20.15

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.02%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 6.57%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

STANDARD (TAXABLE)

$10,000

IRA

$5,500

Investment Themes

CATEGORY

Large Cap Value Equities
  • Fund Type Open End Mutual Fund
  • Investment Style Large Value

Distributions

  • YTD Total Return -24.1%
  • 3 Yr Annualized Total Return -5.1%
  • 5 Yr Annualized Total Return -4.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.14%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Fairholme Fund
  • Fund Family Name Fairholme
  • Inception Date Dec 29, 1999
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager Bruce R. Berkowitz

Fund Description

The Fairholme Fund (FAIRX) is an actively managed fund that seeks to aggressively grow investor capital. The fund invests in a variety of fixed-income securities, stocks and private-placement investments in an effort to grow capital. FAIRX uses fundamental value metrics to choose its portfolio. The fund is considered a high-conviction fund and will only own a few holdings at any given time.

With its high-conviction style, FAIRX is best suited as a satellite position in a portfolio. The fund is managed by Fairholme Capital Management, LLC.

FAIRX - Performance

Return Ranking - Trailing

Period FAIRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -24.1% -92.5% 21.4% 90.47% 5
1 Yr -14.9% -47.2% 35.5% 98.85% 5
3 Yr -5.1% * -15.3% 16.3% 99.29% 5
5 Yr -4.2% * -4.2% 15.6% 98.85% 5
10 Yr 6.5% * -0.5% 18.4% 86.88% 5

* Annualized


Return Ranking - Calendar

Period FAIRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 -7.2% -40.1% 138.1% 85.91% 5
2016 17.3% -22.6% 180.5% 4.83% 1
2015 -47.3% -47.3% 35.3% 91.20% 5
2014 -10.5% -46.4% 33.9% 88.84% 5
2013 24.7% -13.6% 45.0% 53.01% 3

Total Return Ranking - Trailing

Period FAIRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -24.1% -100.0% 21.4% 89.78% 5
1 Yr -14.9% -51.7% 110.4% 99.04% 5
3 Yr -5.1% * -11.2% 19.9% 99.50% 5
5 Yr -4.2% * -4.2% 15.6% 99.06% 5
10 Yr 6.5% * 2.0% 18.4% 86.64% 5

* Annualized


Total Return Ranking - Calendar

Period FAIRX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 -7.2% -23.8% 138.1% 86.69% 5
2016 17.3% -22.5% 187.5% 6.55% 1
2015 -16.5% -26.0% 57.4% 94.94% 5
2014 -4.5% -14.3% 70.7% 97.55% 5
2013 92.6% -21.5% 289.2% 1.14% 1

NAV & Total Return History

FAIRX - Holdings

Filings data as of: Aug 31, 2018

Concentration Analysis

FAIRX Category Low Category High FAIRX % Rank Quintile
Net Assets 1.07 B 98.9 K 105 B 13.23% 3
Number of Holdings 37 1 1128 13.89% 5
Net Assets in Top 10 967 M 0 30.6 B 5.99% 1
Weighting of Top 10 71.4% 0.0% 100.1% 0.67% 1

Top 10 Holdings

  1. Fannie Mae Pfd Shs Ser S 6.76%
  2. The St. Joe Co 28.87%
  3. Federal Home Loan Mortgage Corp 8 3/8 % Fxd-to-Fltng Non-Cum Perp Pfd Shs 7.67%
  4. Imperial Metals Corporation 7% 9.08%
  5. Sears Holdings Corporation 0.08% 4.40%
  6. United States Treasury Bills 2.14% 3.66%
  7. Vistra Energy Corp 1.48%
  8. Vista Outdoor Inc 4.47%
  9. International Wire Group Inc. 0.11% 2.62%
  10. Spectrum Brands Holdings Inc 2.41%

Asset Allocation

Weighting Category Low Category High FAIRX % Rank Quintile
Stocks
38.47% 0.00% 115.29% 27.50% 5
Cash
26.95% -15.29% 100.00% 0.76% 1
Bonds
20.12% -0.14% 66.56% 0.57% 1
Preferred Stocks
14.45% 0.00% 14.45% 0.10% 1
Other
0.00% -0.92% 16.94% 5.23% 5
Convertible Bonds
0.00% 0.00% 71.29% 1.62% 5

Stock Sector Breakdown

Weighting Category Low Category High FAIRX % Rank Quintile
Real Estate
28.87% 0.00% 28.87% 0.10% 1
Consumer Cyclical
7.62% 0.00% 40.56% 15.44% 3
Utilities
1.48% 0.00% 66.03% 22.02% 4
Basic Materials
0.50% 0.00% 19.64% 24.40% 5
Technology
0.00% 0.00% 36.21% 29.65% 5
Industrials
0.00% 0.00% 38.69% 29.93% 5
Healthcare
0.00% 0.00% 29.91% 30.41% 5
Financial Services
0.00% 0.00% 40.84% 32.60% 5
Energy
0.00% 0.00% 24.98% 29.46% 5
Communication Services
0.00% 0.00% 15.05% 26.69% 5
Consumer Defense
0.00% -3.22% 30.39% 28.98% 5

Stock Geographic Breakdown

Weighting Category Low Category High FAIRX % Rank Quintile
US
37.97% 0.00% 114.42% 32.25% 5
Non US
0.50% 0.00% 99.16% 27.78% 5

Bond Sector Breakdown

Weighting Category Low Category High FAIRX % Rank Quintile
Corporate
30.92% 0.00% 85.53% 0.38% 1
Cash & Equivalents
26.95% -15.29% 100.00% 0.67% 1
Government
3.66% 0.00% 20.79% 0.57% 1
Derivative
0.00% -3.52% 6.70% 0.38% 5
Securitized
0.00% 0.00% 27.39% 0.67% 5
Municipal
0.00% 0.00% 1.42% 0.29% 5

Bond Geographic Breakdown

Weighting Category Low Category High FAIRX % Rank Quintile
US
11.04% -0.14% 50.66% 0.67% 1
Non US
9.08% 0.00% 19.40% 0.29% 1

FAIRX - Expenses

Operational Fees

FAIRX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.02% 0.03% 21.67% 16.27% 3
Management Fee 1.00% 0.00% 1.20% 0.48% 5
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee 0.50% 0.00% 0.50% 0.17% 5

Sales Fees

FAIRX Fees (% of AUM) Category Low Category High FAIRX Rank Quintile
Front Load N/A 1.00% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.50% N/A N/A

Trading Fees

FAIRX Fees (% of AUM) Category Low Category High FAIRX Rank Quintile
Max Redemption Fee 2.00% 0.50% 2.00% 0.98% 5

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FAIRX Fees (% of AUM) Category Low Category High FAIRX Rank Quintile
Turnover 6.57% 0.00% 258.00% 16.37% 1

FAIRX - Distributions

Dividend Yield Analysis

FAIRX Category Low Category High FAIRX % Rank Quintile
Dividend Yield 0.3% 0.00% 5.19% 42.04% 3

Dividend Distribution Analysis

FAIRX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

FAIRX Category Low Category High FAIRX % Rank Quintile
Net Income Ratio 1.14% -2.57% 3.65% 15.32% 4

Capital Gain Distribution Analysis

FAIRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

FAIRX - Managers

Bruce R. Berkowitz

Lead Manager

Start Date

Dec 29, 1999

Tenure

18.93

Tenure Rank

1.6%

Mr. Berkowitz is the President and a Director of Fairholme Capital Management. Mr. Berkowitz has been Chief Investment Officer of the firm since its inception in 1997. Mr. Berkowitz also serves as a Director and Chairman of the Board of Directors of a pooled investment vehicle for which the firm serves as the investment adviser and The St. Joe Company, which is listed on the New York Stock Exchange (“NYSE”). Mr. Berkowitz received a Bachelor of Arts in Economics from the University of Massachusetts at Amherst in 1980.


Tenure Analysis

Category Low

0.0

Category High

34.9

Category Average

7.4

Category Mode

0.5