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FAIRX Fairholme

  • Fund
  • FAIRX
  • Price as of: Apr 20, 2018
  • $18.51
  • - $0.05
  • - 0.27%
  • Category
  • Large Cap Value Equities

FAIRX - Profile

Vitals

  • YTD Return -8.1%
  • 3 Yr Annualized Return -1.4%
  • 5 Yr Annualized Return 2.7%
  • Net Assets $1.48 B
  • Holdings in Top 10 70.0%

52 WEEK LOW AND HIGH

$18.51
$17.86
$21.33

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 -8.1%
  • 3 Yr Annualized Total Return -1.4%
  • 5 Yr Annualized Total Return 2.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.14%
DIVIDENDS
  • Dividend Yield N/A
  • 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 -8.1% -83.3% 18.8% 87.97% 5
1 Yr -9.8% -47.2% 35.5% 97.89% 5
3 Yr -1.4% * -15.3% 14.7% 98.59% 5
5 Yr 2.7% * -1.0% 15.6% 98.63% 5
10 Yr 3.7% * -0.5% 12.0% 95.94% 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% 35.8% 88.84% 5
2013 24.7% -13.6% 45.0% 52.78% 3

Total Return Ranking - Trailing

Period FAIRX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -8.1% -83.3% 18.8% 87.56% 5
1 Yr -9.8% -51.7% 110.4% 98.46% 5
3 Yr -1.4% * -11.2% 19.9% 98.69% 5
5 Yr 2.7% * -1.0% 15.6% 98.74% 5
10 Yr 3.7% * 1.6% 12.0% 96.42% 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: Nov 30, 2017

Concentration Analysis

FAIRX Category Low Category High FAIRX % Rank Quintile
Net Assets 1.48 B 98.9 K 102 B 10.56% 2
Number of Holdings 47 1 947 13.70% 5
Net Assets in Top 10 1.31 B 0 28.8 B 4.57% 1
Weighting of Top 10 70.0% 0.0% 100.1% 0.76% 1

Top 10 Holdings

  1. Fed Natl Mort Assc Pfd 11.27%
  2. The St. Joe Co 22.87%
  3. Sears Holdings Corp 2.86%
  4. FHLMC Pfd 10.48%
  5. Imperial Metals Corp New 144A 7% 7.19%
  6. Sears Hldgs 8% 3.91%
  7. Seritage Growth Properties A 4.76%
  8. US Treasury Bill 2.66%
  9. Intl Wire Grp 144A 10.75% 2.06%
  10. Monitronics Intl 9.125% 1.90%

Asset Allocation

Weighting Category Low Category High FAIRX % Rank Quintile
Stocks
31.18% 0.00% 117.31% 27.78% 5
Preferred Stocks
25.65% 0.00% 25.65% 0.10% 1
Cash
23.03% -17.31% 100.00% 0.86% 1
Bonds
18.70% 0.00% 89.57% 0.57% 1
Other
1.45% -0.85% 30.80% 2.00% 1
Convertible Bonds
0.00% 0.00% 84.12% 2.00% 5

Stock Sector Breakdown

Weighting Category Low Category High FAIRX % Rank Quintile
Real Estate
27.63% -0.26% 27.63% 0.10% 1
Consumer Cyclical
2.87% 0.00% 32.82% 29.36% 5
Basic Materials
0.68% 0.00% 21.01% 24.31% 5
Utilities
0.00% -0.18% 65.09% 25.17% 5
Technology
0.00% 0.00% 28.50% 30.31% 5
Industrials
0.00% 0.00% 34.72% 30.03% 5
Healthcare
0.00% 0.00% 29.91% 30.51% 5
Financial Services
0.00% 0.00% 42.65% 31.84% 5
Energy
0.00% 0.00% 23.20% 30.60% 5
Communication Services
0.00% 0.00% 14.07% 24.31% 5
Consumer Defense
0.00% -0.91% 32.96% 29.36% 5

Stock Geographic Breakdown

Weighting Category Low Category High FAIRX % Rank Quintile
US
30.50% 0.00% 116.39% 32.83% 5
Non US
0.68% 0.00% 97.34% 25.78% 5

Bond Sector Breakdown

Weighting Category Low Category High FAIRX % Rank Quintile
Corporate
27.42% 0.00% 97.74% 0.57% 1
Government
16.92% 0.00% 27.24% 0.29% 1
Cash & Equivalents
4.58% -17.31% 100.00% 5.42% 1
Derivative
0.00% -4.27% 16.88% 0.48% 5
Securitized
0.00% 0.00% 25.21% 0.57% 5
Municipal
0.00% 0.00% 1.37% 0.29% 5

Bond Geographic Breakdown

Weighting Category Low Category High FAIRX % Rank Quintile
US
11.51% 0.00% 73.30% 0.67% 1
Non US
7.19% 0.00% 25.22% 0.38% 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% 16.08% 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% 221.00% 15.98% 1

FAIRX - Distributions

Dividend Yield Analysis

FAIRX Category Low Category High FAIRX % Rank Quintile
Dividend Yield N/A 0.00% 3.76% N/A N/A

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% 4.47% 15.70% 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

18.27

Tenure Rank

1.5%

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

39.5

Category Average

7.15

Category Mode

3.3