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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.
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| Period | FAIRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 22.9% | 0.0% | 34.0% | 1.00% |
| 1 Yr | 1.6% | -32.8% | 13.7% | 1.88% |
| 3 Yr | -2.3%* | -14.3% | 16.1% | 79.32% |
| 5 Yr | -15.0%* | -28.5% | 11.7% | 99.37% |
| 10 Yr | -3.9%* | -10.2% | 12.4% | 98.87% |
* Annualized
| Period | FAIRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2018 | -24.8% | -38.8% | 15.7% | 92.13% |
| 2017 | -7.2% | -17.9% | 37.3% | 96.85% |
| 2016 | 17.3% | -7.3% | 28.2% | 5.70% |
| 2015 | -47.3% | -47.3% | 0.6% | 100.00% |
| 2014 | -10.5% | -46.4% | 75.9% | 96.32% |
| Period | FAIRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 22.9% | 0.0% | 34.0% | 1.00% |
| 1 Yr | 1.6% | -32.8% | 13.9% | 9.00% |
| 3 Yr | 0.4%* | -12.3% | 16.9% | 87.52% |
| 5 Yr | -2.7%* | -10.0% | 13.8% | 94.42% |
| 10 Yr | 4.9%* | -3.6% | 14.8% | 92.82% |
* Annualized
| Period | FAIRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2018 | -24.8% | -32.1% | 15.7% | 96.38% |
| 2017 | -5.9% | -7.9% | 38.3% | 99.12% |
| 2016 | 25.6% | -7.3% | 29.2% | 1.90% |
| 2015 | -12.2% | -26.2% | 4.7% | 92.27% |
| 2014 | -2.7% | -45.2% | 78.4% | 97.24% |
| FAIRX | Category Low | Category High | FAIRX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.15 B | 1.47 M | 118 B | 43.20% |
| Number of Holdings | 31 | 18 | 1750 | 98.00% |
| Net Assets in Top 10 | 820 M | 81.8 K | 32.2 B | 22.85% |
| Weighting of Top 10 | 71.58% | 9.1% | 73.6% | 0.25% |
| Weighting | Return Low | Return High | FAIRX % Rank | |
|---|---|---|---|---|
| Stocks | 33.09% | 7.36% | 118.00% | 99.25% |
| Cash | 28.42% | -18.00% | 52.24% | 1.00% |
| Preferred Stocks | 21.57% | 0.00% | 16.57% | 0.12% |
| Bonds | 16.91% | 0.00% | 44.69% | 0.50% |
| Other | 0.00% | -0.42% | 2.43% | 64.04% |
| Convertible Bonds | 0.00% | -0.02% | 73.71% | 63.42% |
| Weighting | Return Low | Return High | FAIRX % Rank | |
|---|---|---|---|---|
| Real Estate | 31.59% | 0.00% | 33.69% | 0.13% |
| Basic Materials | 1.22% | 0.00% | 14.15% | 81.48% |
| Consumer Cyclical | 0.28% | 0.00% | 42.25% | 99.25% |
| Utilities | 0.00% | 0.00% | 72.94% | 96.87% |
| Technology | 0.00% | 0.00% | 35.17% | 99.75% |
| Industrials | 0.00% | 0.00% | 35.51% | 99.62% |
| Healthcare | 0.00% | 0.00% | 25.25% | 99.75% |
| Financial Services | 0.00% | 0.93% | 42.53% | 100.00% |
| Energy | 0.00% | 0.00% | 20.59% | 99.00% |
| Communication Services | 0.00% | 0.00% | 12.21% | 96.50% |
| Consumer Defense | 0.00% | 0.00% | 22.04% | 99.62% |
| Weighting | Return Low | Return High | FAIRX % Rank | |
|---|---|---|---|---|
| US | 31.87% | 0.12% | 118.00% | 98.75% |
| Non US | 1.22% | 0.00% | 99.44% | 85.64% |
| Weighting | Return Low | Return High | FAIRX % Rank | |
|---|---|---|---|---|
| Corporate | 34.17% | 0.00% | 85.75% | 0.62% |
| Cash & Equivalents | 7.73% | -18.00% | 81.87% | 6.12% |
| Derivative | 0.00% | -0.06% | 3.10% | 60.92% |
| Securitized | 0.00% | 0.00% | 25.79% | 61.92% |
| Municipal | 0.00% | 0.00% | 1.28% | 61.55% |
| Government | 0.00% | 0.00% | 6.84% | 63.30% |
| Weighting | Return Low | Return High | FAIRX % Rank | |
|---|---|---|---|---|
| Non US | 12.26% | 0.00% | 8.95% | 0.37% |
| US | 4.65% | 0.00% | 35.74% | 1.37% |
| FAIRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.00% | 0.03% | 8.83% | 53.63% |
| Management Fee | 1.00% | 0.00% | 1.20% | 97.25% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.50% | 0.01% | 0.50% | 100.00% |
| FAIRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.50% | N/A |
| FAIRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | 2.00% | 0.50% | 2.00% | 47.76% |
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 Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 16.29% | 0.00% | 258.00% | 15.48% |
| FAIRX | Category Low | Category High | FAIRX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.81% | 0.00% | 0.10% | 12.36% |
| FAIRX | Category Low | Category High | Category Mode | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annually | Annually | Monthly | Quarterly |
| Date | Amount |
|---|---|
| Dec 14, 2018 | $0.337 |
| Dec 15, 2017 | $0.260 |
| Dec 16, 2016 | $0.405 |
| Dec 11, 2015 | $0.600 |
| Dec 28, 2012 | $0.246 |
| Dec 16, 2011 | $0.908 |
| Dec 31, 2010 | $0.075 |
| Dec 16, 2009 | $0.267 |
| Aug 09, 2005 | $0.012 |
| FAIRX | Category Low | Category High | FAIRX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.57% | -2.85% | 3.31% | 39.50% |
| FAIRX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Manager
Start Date
Tenure
Tenure Rank
Dec 29, 1999
19.6
19.6%
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
35.52
Category Average
7.77
Category Mode
0.39
MUTUAL FUND EDUCATION
MUTUAL FUND EDUCATION
