TAXATION
Mutual Fund Distributions: How Capital Gain Distributions Are Taxed
For mutual fund investors, taxes are inevitable. Even if you’re a long-term buy...
Fairholme
- FAIRX
- Price as of: Oct 23, 2020
-
$21.90
N/A N/A
- Primary Theme
- U.S. Large-Cap Value Equity
- Fund Company
- Fairholme
- Share Class
FAIRX - Snapshot
Vitals
- YTD Return 10.4%
- 3 Yr Annualized Return -0.4%
- 5 Yr Annualized Return 1.2%
- Net Assets $978 M
- Holdings in Top 10 98.9%
52 WEEK LOW AND HIGH
$21.90
$15.61
$21.91
Expenses
OPERATING RELATED FEES
- Expense Ratio 1.00%
SALES FEES
- Front Load N/A
- Deferred Load N/A
BROKERAGE FEES
- Turnover 8.05%
TRADING FEES
- Max Redemption Fee 2.00%
Min Investment
- Standard (Taxable) $10,000
- IRA $6,000
Fund Classification
-
Primary Theme
U.S. Large-Cap Value Equity
- Fund Type Open End Mutual Fund
- Investment Style Large Value
FAIRX - Profile
Distributions
- YTD Total Return 10.4%
- 3 Yr Annualized Total Return -0.4%
- 5 Yr Annualized Total Return 1.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.86%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annually
Fund Details
-
Legal NameFairholme Fund
-
Fund Family NameFairholme
-
Inception DateDec 29, 1999
-
Shares OutstandingN/A
-
Share ClassNo Load
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerBruce Berkowitz
Fund Description
Under normal circumstances, to achieve the fund's investment objective by investing in a focused portfolio of equity and fixed-income securities. It may invest in common and preferred stock, partnership interests, business trust shares, depository receipts, rights and warrants to subscribe for the purchase of equity securities, and interests in REITs. The fund may invest in U.S. corporate debt securities, non-U.S. corporate debt securities, bank debt, U.S. government and agency debt securities, short-term debt obligations of foreign governments and foreign money market instruments. It is non-diversified.
FAIRX - Performance
Return Ranking - Trailing
| Period | FAIRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 10.4% | -32.2% | 255.0% | 1.16% |
| 1 Yr | 0.6% | -28.2% | 22.1% | 16.12% |
| 3 Yr | -0.4%* | -10.2% | 12.3% | 83.66% |
| 5 Yr | 1.2%* | -2.8% | 16.0% | 99.64% |
| 10 Yr | 3.7%* | 3.7% | 12.9% | 100.00% |
* Annualized
Return Ranking - Calendar
| Period | FAIRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2019 | 31.0% | -32.1% | 76.3% | 1.12% |
| 2018 | -24.8% | -62.4% | 16.7% | 91.43% |
| 2017 | -7.2% | -72.0% | 37.9% | 97.34% |
| 2016 | 17.3% | -61.4% | 31.0% | 6.84% |
| 2015 | -47.3% | -47.3% | 4.6% | 100.00% |
Total Return Ranking - Trailing
| Period | FAIRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 10.4% | -32.2% | 255.0% | 1.16% |
| 1 Yr | 0.6% | -28.2% | 22.1% | 14.10% |
| 3 Yr | -0.4%* | -11.0% | 12.3% | 80.82% |
| 5 Yr | 1.2%* | -3.1% | 16.0% | 99.36% |
| 10 Yr | 3.7%* | 3.7% | 12.9% | 100.00% |
* Annualized
Total Return Ranking - Calendar
| Period | FAIRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2019 | 31.0% | -32.1% | 76.3% | 1.12% |
| 2018 | -24.8% | -37.1% | 17.4% | 95.23% |
| 2017 | -5.9% | -9.5% | 37.9% | 99.24% |
| 2016 | 25.6% | -27.9% | 32.2% | 1.91% |
| 2015 | -12.2% | -28.9% | 4.6% | 91.04% |
NAV & Total Return History
FAIRX - Holdings
Concentration Analysis
| FAIRX | Category Low | Category High | FAIRX % Rank | |
|---|---|---|---|---|
| Net Assets | 978 M | 390 K | 82.7 B | 41.07% |
| Number of Holdings | 12 | 1 | 1643 | 99.35% |
| Net Assets in Top 10 | 929 M | 68.9 K | 20.4 B | 19.30% |
| Weighting of Top 10 | 98.93% | 5.4% | 100.0% | 0.16% |
Top 10 Holdings
- The St. Joe Co 45.51%
- Fidelity® Inv MM Fds Treasury I 16.94%
- Federal Home Loan Mortgage Corp 8 3/8 % Fxd-to-Fltng Non-Cum Perp Pfd Shs 8.53%
- Fannie Mae Pfd Shs Ser S 8.37%
- United States Treasury Bills 1.52% 5.32%
- United States Treasury Bills 0.07% 5.21%
- Berkshire Hathaway Inc Class B 4.90%
- United States Treasury Bills 0.01% 1.38%
- United States Treasury Bills 0.06% 1.38%
- United States Treasury Bills 0.09% 1.38%
Asset Allocation
| Weighting | Return Low | Return High | FAIRX % Rank | |
|---|---|---|---|---|
| Stocks | 51.37% | 10.12% | 147.71% | 99.67% |
| Cash | 22.37% | -129.21% | 89.88% | 0.90% |
| Preferred Stocks | 16.90% | 0.00% | 18.70% | 0.57% |
| Bonds | 9.36% | 0.00% | 41.02% | 1.79% |
| Other | 0.00% | -3.00% | 90.90% | 57.33% |
| Convertible Bonds | 0.00% | 0.00% | 9.42% | 56.92% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | FAIRX % Rank | |
|---|---|---|---|---|
| Real Estate | 88.59% | 0.00% | 88.59% | 0.08% |
| Financial Services | 9.54% | 0.00% | 61.01% | 95.17% |
| Basic Materials | 1.87% | 0.00% | 23.60% | 77.66% |
| Utilities | 0.00% | 0.00% | 45.51% | 94.11% |
| Technology | 0.00% | 0.00% | 54.02% | 99.84% |
| Industrials | 0.00% | 0.00% | 47.37% | 99.92% |
| Healthcare | 0.00% | 0.00% | 31.61% | 99.84% |
| Energy | 0.00% | 0.00% | 24.13% | 97.79% |
| Communication Services | 0.00% | 0.00% | 23.33% | 99.18% |
| Consumer Defense | 0.00% | 0.00% | 31.06% | 99.67% |
| Consumer Cyclical | 0.00% | 0.00% | 30.80% | 98.45% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | FAIRX % Rank | |
|---|---|---|---|---|
| US | 50.41% | 10.12% | 146.42% | 99.43% |
| Non US | 0.96% | -0.14% | 37.07% | 82.74% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | FAIRX % Rank | |
|---|---|---|---|---|
| Cash & Equivalents | 46.00% | 0.00% | 100.00% | 87.96% |
| Corporate | 34.76% | 0.00% | 100.00% | 10.22% |
| Government | 19.24% | 0.00% | 100.00% | 1.74% |
| Derivative | 0.00% | 0.00% | 77.58% | 54.98% |
| Securitized | 0.00% | 0.00% | 35.57% | 54.15% |
| Municipal | 0.00% | 0.00% | 0.48% | 54.15% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | FAIRX % Rank | |
|---|---|---|---|---|
| US | 9.36% | 0.00% | 35.27% | 1.79% |
| Non US | 0.00% | 0.00% | 22.92% | 54.64% |
FAIRX - Expenses
Operational Fees
| FAIRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.00% | 0.01% | 19.26% | 48.59% |
| Management Fee | 1.00% | 0.00% | 1.50% | 97.88% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.50% | 99.72% |
Sales Fees
| 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 |
Trading Fees
| FAIRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | 2.00% | 1.00% | 2.00% | 29.58% |
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 Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 8.05% | 0.00% | 481.00% | 3.07% |
FAIRX - Distributions
Dividend Yield Analysis
| FAIRX | Category Low | Category High | FAIRX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 26.03% | 59.90% |
Dividend Distribution Analysis
| FAIRX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annually | Annually | Quarterly | Quarterly |
Net Income Ratio Analysis
| FAIRX | Category Low | Category High | FAIRX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.86% | -1.51% | 5.26% | 92.71% |
Capital Gain Distribution Analysis
| FAIRX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Dividend Payout History
| 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 - Fund Manager Analysis
Managers
Bruce Berkowitz
Start Date
Tenure
Tenure Rank
Dec 29, 1999
20.77
20.8%
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.Mr. Berkowitz has over 30 years of investment management experience.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 84.93 | 7.15 | 5.05 |
