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FAIRX Fairholme

  • Fund
  • FAIRX
  • Price as of: May 23, 2019
  • $18.85 - $0.20 - 1.05%
  • Category
  • Large Cap Value Equities

FAIRX - Profile

Vitals

  • YTD Return 24.5%
  • 3 Yr Annualized Return 0.7%
  • 5 Yr Annualized Return -14.5%
  • Net Assets $1.14 B
  • Holdings in Top 10 63.6%

52 WEEK LOW AND HIGH

$18.85
$15.08
$19.09

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.00%

SALES FEES

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

BROKERAGE FEES

  • Turnover 16.29%

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 24.5%
  • 3 Yr Annualized Total Return 3.5%
  • 5 Yr Annualized Total Return -2.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.57%
DIVIDENDS
  • Dividend Yield 0.0%
  • 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 (%)
YTD 24.5% -3.5% 23.5% 0.12%
1 Yr 1.0% -29.1% 14.0% 4.48%
3 Yr 0.7%* -13.8% 15.5% 66.46%
5 Yr -14.5%* -28.0% 11.5% 99.49%
10 Yr -2.2%* -10.0% 12.7% 99.04%

* Annualized


Return Ranking - Calendar

Period FAIRX Return Category Return Low Category Return High Rank in Category (%)
2018 -24.8% -38.8% 15.7% 92.03%
2017 -7.2% -17.9% 37.3% 96.86%
2016 17.3% -7.3% 28.2% 5.67%
2015 -47.3% -47.3% 0.6% 100.00%
2014 -10.5% -46.4% 75.9% 96.33%

Total Return Ranking - Trailing

Period FAIRX Return Category Return Low Category Return High Rank in Category (%)
YTD 24.5% -3.5% 23.5% 0.12%
1 Yr 1.0% -29.1% 14.0% 19.05%
3 Yr 3.5%* -9.3% 16.3% 79.15%
5 Yr -2.1%* -9.5% 13.5% 94.47%
10 Yr 6.7%* -4.0% 15.5% 90.77%

* Annualized


Total Return Ranking - Calendar

Period FAIRX Return Category Return Low Category Return High Rank in Category (%)
2018 -24.8% -32.1% 15.7% 96.26%
2017 -5.9% -7.9% 38.3% 99.12%
2016 25.6% -7.3% 29.2% 1.89%
2015 -12.2% -26.2% 4.7% 92.42%
2014 -2.7% -45.2% 78.4% 97.25%

NAV & Total Return History

FAIRX - Holdings

Concentration Analysis

FAIRX Category Low Category High FAIRX % Rank
Net Assets 1.14 B 1.47 M 117 B 44.28%
Number of Holdings 38 18 1796 92.16%
Net Assets in Top 10 666 M 81.8 K 32.2 B 26.87%
Weighting of Top 10 63.55% 8.7% 74.3% 0.62%

Top 10 Holdings

  1. The St. Joe Co 33.69%

  2. Imperial Metals Corporation 7% 8.83%

  3. Fannie Mae Pfd Shs Ser S 8.30%

  4. Federal Home Loan Mortgage Corp 8 3/8 % Fxd-to-Fltng Non-Cum Perp Pfd Shs 8.27%

  5. Berkshire Hathaway Inc B 2.03%

  6. Imperial Metals Corp 0.99%

  7. Vista Outdoor Inc 0.82%

  8. Sears Holdings Corporation 8% 0.62%


Asset Allocation

Weighting Return Low Return High FAIRX % Rank
Stocks
37.53% 6.24% 117.77% 99.50%
Cash
36.45% -17.77% 40.48% 0.50%
Preferred Stocks
16.57% 0.00% 16.57% 0.12%
Bonds
9.45% -0.04% 43.37% 0.50%
Other
0.00% -0.77% 2.43% 65.92%
Convertible Bonds
0.00% 0.00% 77.39% 65.67%

Stock Sector Breakdown

Weighting Return Low Return High FAIRX % Rank
Real Estate
33.69% 0.00% 33.69% 0.12%
Financial Services
2.03% 0.89% 39.05% 99.38%
Basic Materials
0.99% 0.00% 17.14% 85.66%
Consumer Cyclical
0.82% 0.00% 46.05% 98.88%
Utilities
0.00% 0.00% 71.85% 97.76%
Technology
0.00% 0.00% 35.17% 100.00%
Industrials
0.00% 0.00% 37.45% 99.75%
Healthcare
0.00% 0.00% 25.25% 99.75%
Energy
0.00% 0.00% 24.02% 99.13%
Communication Services
0.00% 0.00% 12.35% 96.76%
Consumer Defense
0.00% 0.00% 27.68% 98.88%

Stock Geographic Breakdown

Weighting Return Low Return High FAIRX % Rank
US
36.54% 0.17% 117.77% 99.00%
Non US
0.99% 0.00% 99.26% 88.18%

Bond Sector Breakdown

Weighting Return Low Return High FAIRX % Rank
Corporate
26.02% 0.00% 92.36% 0.75%
Cash & Equivalents
8.54% -17.77% 71.79% 5.47%
Derivative
0.00% -0.89% 0.02% 60.82%
Securitized
0.00% 0.00% 25.23% 64.30%
Municipal
0.00% 0.00% 1.33% 63.81%
Government
0.00% 0.00% 5.30% 65.92%

Bond Geographic Breakdown

Weighting Return Low Return High FAIRX % Rank
Non US
8.83% 0.00% 8.83% 0.12%
US
0.62% -0.04% 34.69% 6.84%

FAIRX - Expenses

Operational Fees

FAIRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.00% 0.03% 8.83% 53.67%
Management Fee 1.00% 0.00% 1.20% 97.51%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.50% 0.01% 0.50% 100.00%

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% 0.50% 2.00% 49.25%

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 Return Low Category Return High Rank in Category (%)
Turnover 16.29% 0.00% 258.00% 17.04%

FAIRX - Distributions

Dividend Yield Analysis

FAIRX Category Low Category High FAIRX % Rank
Dividend Yield 0.02% 0.00% 0.10% 20.15%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

FAIRX Category Low Category High FAIRX % Rank
Net Income Ratio 1.57% -2.85% 3.22% 37.73%

Capital Gain Distribution Analysis

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

FAIRX - Managers

Bruce R. Berkowitz

Manager

Start Date

Tenure

Tenure Rank

Dec 29, 1999

19.35

19.4%

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

35.36

Category Average

7.83

Category Mode

0.23