Bruce Berkowitz’s
Fairholme Fund (
FAIRX) 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), AIA Group Ltd. (
AAIGF.PK), Sears Holdings Corp. (
SHLD), Berkshire Hathaway Inc. (
BRK.B) and Brookfield Asset Management Inc. (
BAM).
The complete report is
here.
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