Fairholme Fund

Last Update: 07-30-2015
Related: Bruce Berkowitz
Fairholme Focused Income Fund

Number of Stocks: 26
Number of New Stocks: 0

Total Value: $4,641 Mil
Q/Q Turnover: 0%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Fairholme Fund' s Profile & Performance


Fairholme Fund is managed by its founder Bruce Berkowitz. For the 10-year period after inception in 1999, the fund gained 253% while the S&P lost money. This portfolio is the quarterly portfolio of Fairholme Fund. It is different from the portfolio under the name of "Bruce Berkowitz", which covers more accounts and funds managed by Bruce Berkowitz.

Web Page:http://www.fairholmefunds.com/stat

Investing Philosophy

Bruce Berkowitz concentrates his investments in a relatively small number of companies. He looks for companies with good management and cashflow. His motto: "Ignore the Crowd'.

Historical Allocation of Stock, Bonds, Cash

Total Holding History

Performance of Fairholme Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
3-Year Cumulative79.1 (21.4%/year)74.6 (20.4%/year)4.5 (1%/year)
5-Year Cumulative51.8 (8.7%/year)105.1 (15.5%/year)-53.3 (-6.8%/year)
10-Year Cumulative121.3 (8.3%/year)109.4 (7.7%/year)11.9 (0.6%/year)
15-Year Cumulative424.8 (11.7%/year)86.4 (4.2%/year)338.4 (7.5%/year)

Top Ranked Articles

Bank of America (BAC) with a compelling entry point for long term investors
Answers from Bruce Berkowitz of Fairholme Fund; Comment on Banks, Insurers and St. Joe
In January we announced that our users can ask questions to Bruce Berkowitz of Fairholme Fund and we received tremendous responses. Now here are the answers back from Mr. Berkowitz in a joint interview with Advisor Perspective. Read more...
Value Is Not Enough
Bruce Berkowitz, the manager of the Fairholme Fund, recently posted an investor presentation discussing short term volatility and its impact on long term performance (if anybody knows about volatility, its Fairholme Fund investors who have stuck with Berkowitz over the past 18 months). In that slide deck, Mr. Berkowitz quotes something Seth Klarman said in April of 2011: Read more...
Stock Market Pitching a Fat One Down the Middle with American Bank Stock Prices?
My gut tells me that we have a big investment opportunity today in American banks. The problem is that my brain tells me that there is no way I have the expertise to figure out exactly what is on the balance sheet of these entities. Read more...
Fairholme Funds Buys T, VZ, STD, RDS.A and Sells GGP, HUM, WCG, FUR, TAL
Fairholme Capital Management is an investment management company that primarily operates under three mutual funds: The Fairholme Fund, the Fairholme Focused Income Fund and the Fairholme Allocation Fund. Launched in 1999, Fairholme Capital Management is headed by Bruce Berkowitz, named both domestic stock fund manager of year in 2009, and of the decade in 2010. Fairholme Capital Management has over $15 billion under management invested between 24 different equities. More detailed information regarding Bruce Berkowitz and his investment philosophies can be found in this article: http://www.gurufocus.com/news.php?id=122358 Read more...
» More Fairholme Fund Articles

Commentaries and Stories

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Fairholme Fund (Bruce Berkowitz) June 30 Investor Letter
To the Shareholders and the Directors of The Fairholme Fund (Trades, Portfolio): More...

  • Currently 3.00/5

Rating: 3.0/5 (2 votes)

Fairholme Fund Increases Stakes During 1Q2015 Bruce Berkowitz,Fairholme Fund - Fairholme Fund Increases Stakes During 1Q2015
Bruce Berkowitz (Trades, Portfolio)'s Fairholme Fund (Trades, Portfolio) recently increased its stakes in three positions in the portfolio. The fund currently owns 26 positions that are valued at $5.13 billion all together. The firm likes to hold onto stocks for long periods of time, as the quarter-over-quarter turnover of 1% indicates. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Bruce Berkowitz Reduced Stake In One Of The Largest Broadline Retailers In The U.S.
Bruce Berkowitz (Trades, Portfolio) is the founder and the managing member of the Fairholme Fund (Trades, Portfolio). The investor reported decreasing his stake in Sears Holdings Corp (NASDAQ:SHLD) on March 16, according to GuruFocus Real Time Picks. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Bruce Berkowitz Increases His Stakes In Fannie And Freddie
Bruce Berkowitz (Trades, Portfolio) of Fairholme Capital has increased his stakes in Fannie Mae (FNMA) and Freddie Mac (FMCC). With Fannie and Freddie stock prices falling, they now make up a smaller position of value in Fairholmes portfolio compared to mid-2014. Bruce Berkowitz (Trades, Portfolio) is heavly invested in the GSE's and has a law suit against the government over the all of Fannie and Freddie earnings being taken by the government. More...


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Rating: 2.0/5 (3 votes)

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Rating: 0.0/5 (0 votes)

Berkowitz’s Fairholme Fund Adds Stake In Struggling Sears Canada Bruce Berkowitz,Fairholme Fund - Berkowitz’s Fairholme Fund Adds Stake In Struggling Sears Canada
Fairholme Fund (Trades, Portfolio), which renowned investor Bruce Berkowitz (Trades, Portfolio) manages, has accumulated a stake in Sears Canada (NASDAQ:SRSC) from the partial spin-off of Sears Holdings  (NASDAQ:SHLD). Sears Holdings continues to off-load valuable non-core assets through spin-offs and asset sales. More...


  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Fairholme Fund's Three Recent Portfolio Changes Bruce Berkowit,Fairholme Fund,Joel Greenblatt,Paul - Fairholme Fund's Three Recent Portfolio Changes
Bruce Berkowitz (Trades, Portfolio) is famous for the minimal amount of turnover and trades in his portfolio. More...


  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Top Fund Managers See Massive Quote Losses In Their Stakes In Frannie and Freddie
Fairholme Fund's (Trades, Portfolio) and Perry Capital's cases were the most prominent and closely watched against the government over taking a 100% of Frannie (FNMA) and Freddie (FMCC) profits. They have lost their legal challenge to a change that the government made after the 2008 bailouts of Fannie and Freddie to send all of the firm's profits to the Treasury. Currently the government faces about 20 federal legal challenges brought by investors that have kept investors from participating in Fannie and Freddie's post-bailout profits. After a federal judge in the U.S. District Court for the District of Columbia dismissed Fairholme Fund's (Trades, Portfolio) and Perry Capital cases share for Fannie More...


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Rating: 0.0/5 (0 votes)

Tepper: Stocks Interesting, Junk Bonds at Fair Value David Tepper,Fairholme Fund,Kyle Bass - Tepper: Stocks Interesting, Junk Bonds At Fair Value


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Rating: 0.0/5 (0 votes)

Fairholme Fund Second Quarter 2014 Shareholder Letter
To the Shareholders and the Directors of The Fairholme Fund (Trades, Portfolio): More...

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Rating: 0.0/5 (0 votes)

A Look at the Real Estate Companies Held by the Most Gurus Bruce Berkowitz,Fairholme Fund - A Look At The Real Estate Companies Held By The Most Gurus
Using the GuruFocus Aggregated Portfolio Screener you can filter results to see what companies maintain the highest amount of guru ownership. By using this screener, we filtered down to see real estate-focused companies which are held by the most gurus. The following five real estate companies are held by the largest number of gurus during the past quarter. More...

  • Currently 3.33/5

Rating: 3.3/5 (3 votes)

A Profile of Value Investing Star Bruce Berkowitz
Bruce Berkowitz (Trades, Portfolio) doesn’t worry about going against the flow — at least not in the short term. He is a concentrated value investor who bets on only a handful of stocks, so it comes with the territory. More...

  • Currently 4.67/5

Rating: 4.7/5 (3 votes)

Carl Icahn Buys Fannie Mae, Freddie Mac from Bruce Berkowitz Fairholme Fund,Bruce Berkowitz - Carl Icahn Buys Fannie Mae, Freddie Mac From Bruce Berkowitz
In the pattern of Bruce Berkowitz (Trades, Portfolio), Bill Ackman (Trades, Portfolio) and Richard Perry (Trades, Portfolio), corporate activist Carl Icahn (Trades, Portfolio) has purchased shares of Fannie Mae (FNMA) and Freddie Mac (FMCC), according to court documents released today. Three of Icahn’s funds in March purchased the shares More...

  • Currently 4.50/5

Rating: 4.5/5 (4 votes)

IZEA Inc. – An Idea Borrowed from the Portfolio of a Top Small-Cap Investor Bruce Berkowitz,Fairholme Fund - IZEA Inc. – An Idea Borrowed From The Portfolio Of A Top Small-Cap Investor
I’m a Warren Buffett devotee. More...

  • Currently 4.17/5

Rating: 4.2/5 (6 votes)

The Four Most Common Attributes of Investment Managers That Outperform Their Benchmarks Fairholme Fund,Jeremy Grantham - The Four Most Common Attributes Of Investment Managers That Outperform Their Benchmarks
Benjamin Graham wrote in his book "The Intelligent Investor," “Investment is most intelligent when it is most businesslike. To achieve satisfactory results is easier than most people realize; to achieve superior results is harder than it looks.” More...

  • Currently 2.80/5

Rating: 2.8/5 (5 votes)

OSH Trades by Lampert and Gurus - Can Orchard Bear Fruit?
In the world of garden tools, paint and outdoor furniture — where we shop for price — can Orchard Supply Hardware (OSH) compete with retail giants for top-of-mind among potential customers and flourish in California’s neighborhoods as the go-to place for home improvement? Only the Gurus know the answer, maybe. Meanwhile, California-centric Orchard Supply Hardware faces tough competition in the home improvement and garden market, selling against The Home Depot, Ace Hardware, Costco, Wal-Mart, Target, TrueValue and Lowe’s. More...

  • Currently 3.50/5

Rating: 3.5/5 (8 votes)

Protecting Yourself Against Fear
When I looked today at Hewlett Packard’s (NYSE:HPQ) three-month, 40% run, I became physically ill. Then, remembering that I had only myself to blame, I punched myself in the leg for good measure. Why, you ask? Because three months ago I sold HP near its lowest point in 15 years. It was not the size of the mistake that frustrated me – it was a small position – but that I succumbed to the fear and made a rare emotion-based sell decision. More...


  • Currently 3.94/5

Rating: 3.9/5 (18 votes)

What Does It Take to Be a Guru?
What annual return do you need to achieve to be considered a guru? Over the last 15 years, you were lucky to make 8% to 9% a year in stocks. And since today’s stock prices aren’t any lower than they were 15 years ago – the same is true of the future. If you can make 8% to 9% a year over 15 years, you’re worthy of guru consideration. More...

  • Currently 2.83/5

Rating: 2.8/5 (6 votes)

Bruce Berkowitz Adds to Wells Fargo, Reduces CIT Group and Jefferies Group
As of the quarter ending Sept. 30, Bruce Berkowitz, founder of Fairholme Capital Management, has reported three updates to his portfolio, which include an increase in his stake of Wells Fargo (WFC) and stake reductions in CIT Group (CIT) and Jefferies Group (JEF). More...

  • Currently 3.57/5

Rating: 3.6/5 (7 votes)

Fairholme Fund Buys Orchard Supply, Sells Berkshire Hathaway Inc., Cit Group Inc.
Fairholme Fund just reported its second quarter portfolio. The fund did not trade much during the second quarter. It added slightly to Orchard Supply, and sold Berkshire Hathaway and CIT group. The fund had $7 billion under management as of May 31, which is a drop of more than 60% since 15 months ago. More...

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