Bruce Berkowitz

Bruce Berkowitz

Fairholme Capital Management
Last update 2020-05-15 7 Stocks (4 new)
Value $510.00 Mil Turnover 13 %
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Bruce Berkowitz Profile

Bruce Berkowitz is the founder and the Managing Member of the Fairholme Fund. Prior to forming Fairholme Capital Management, Mr. Berkowitz was a Managing Director of Smith Barney, Inc. from December of 1993 to October of 1997.

Bruce Berkowitz Investing Philosophy

Bruce Berkowitz concentrates his investments in a relatively small number of companies. He thinks that the more diversified the portfolio, the more likely the performance will be average. He likes companies with great managers, and deeply undervalued stocks. Benjamin Graham's "The Intelligent Investor" serves as the inspiration for Berkowitz' investment strategy. He focuses investments on companies that have exceptional management, that generate free cash, and that are cheaply priced. Berkowitz will also invest in mediocre companies that are trading at a significant discount to intrinsic value where there exists a catalyst event that makes it likely the gap between market price and intrinsic value will narrow in a reasonable amount of time.
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Performance of Fairholme Fund

Year Return % S&P500 % Excess Gain %
2019 32.06 30.58 1.5
2018 -23.17 -4.57 -18.6
2017 -5.96 21.7 -27.7
3-Year Cumulative (2017-2019) -4.57 (-1.55/Year) 51.65 (14.89/Year) -56.22 (-16.44/Year)
2016 25.68 12 13.7
2015 -11.48 1.24 -12.7
5-Year Cumulative (2015-2019) 6.15 (1.20/Year) 71.96 (11.45/Year) -65.79 (-10.25/Year)
2014 -2.72 13.46 -16.2
2013 35.54 32.31 3.2
2012 35.81 15.99 19.8
2011 -32.42 1.9 -34.3
2010 25.47 15.05 10.4
10-Year Cumulative (2010-2019) 61.18 (4.89/Year) 251.03 (13.38/Year) -189.85 (-8.49/Year)
2009 39.01 26.35 12.7
2008 -29.7 -36.79 7.1
2007 12.35 5.15 7.2
2006 16.71 15.84 0.9
2005 13.74 4.83 8.9
15-Year Cumulative (2005-2019) 134.91 (5.86/Year) 257.98 (8.87/Year) -123.07 (-2.99/Year)
2004 24.93 10.7 14.2
2003 23.96 28.18 -4.2
2002 -1.58 -21.58 20
2001 6.18 -11.76 17.9
2000 46.54 -9.75 56.3

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