Bruce Berkowitz’s Fairholme Fund (FAIRX, Financial) released its official results for a brutal 2011 on Monday. The fund is down 32.4% for 2011, and its assets under management shrunk to $6.96 billion from about $21 billion at the beginning of 2011.
The fund also beat 0% of the 301 multi-cap value funds tracked by Lipper last year. It beat 82% of all multi-cap value funds tracked by Lipper on a 10-year basis. Since inception, $10,000 invested in the Fairholme Fund would be worth $29,931 at December 31, 2011, and worth $10,723 if invested in the S&P 500.
Berkowitz’s top holdings continue to be: American International Group Inc. (AIG, Financial), AIA Group Ltd. (AAIGF.PK, Financial), Sears Holdings Corp. (SHLD, Financial), Berkshire Hathaway Inc. (BRK.B, Financial) and Brookfield Asset Management Inc. (BAM, Financial).
The complete report is here.
The fund also beat 0% of the 301 multi-cap value funds tracked by Lipper last year. It beat 82% of all multi-cap value funds tracked by Lipper on a 10-year basis. Since inception, $10,000 invested in the Fairholme Fund would be worth $29,931 at December 31, 2011, and worth $10,723 if invested in the S&P 500.
Berkowitz’s top holdings continue to be: American International Group Inc. (AIG, Financial), AIA Group Ltd. (AAIGF.PK, Financial), Sears Holdings Corp. (SHLD, Financial), Berkshire Hathaway Inc. (BRK.B, Financial) and Brookfield Asset Management Inc. (BAM, Financial).
The complete report is here.
