| Ticker: | FAIRX |
| Manager: | Bruce R. Berkowitz |
| Manager Since: | 12/99 |
| NAV (06/17/2013): | 37.1 |
| Objective: | Equity - Growth |
| Peer: | GR LV |
| Net Assets ($mil): | 6992.08 |
| Inception: | 12/29/1999 |
FAIRX : Description
The Fairholme Fund seeks long-term growth of its shareholders' capital by investing in equity securities of public companies and by holding a focused portfolio. The Fund buys when it finds such companies generating or holding significant cash when compared to market values. Purchases are made without regard to categorization. The Fund also intends to invest in special situations, including, but not limited to, Chapter 11 reorganizations. The Fairholme Fund is a non-diversified mutual fund, which means that the Fund invests in a smaller number of securities when compared to more diversified funds.
FAIRX : Composition - 05/13
| Stocks | 75.85% |
| Foreign Stocks | 0.74% |
| Cash | 0.75% |
| Bonds | 15.76% |
| Foreign Bonds | 0.00% |
| Preferred | 0.01% |
| Convertible | 0.00% |
| Other | 7.62% |
| Foreign Hedged | 0.00% |
FAIRX : Style Analysis - 05/13
| Large Growth | 0.00% |
| Large Value | 68.55% |
| Small Growth | 0.00% |
| Small Value | 0.00% |
| Foreign Stock | 0.00% |
| Emerging Market | 0.00% |
| Precious Metals | 0.00% |
| Intermediate Bond | 0.00% |
| High Yield Bond | 0.00% |
| Foreign Bond | 0.00% |
FAIRX : Risk Analysis
| Beta v. S&P 500 | 0.31 |
| Beta v. EAFE | 0.73 |
| Beta v. Barclays Agg Bond | -2.03 |
| Alpha 3 Yr | -10.74 |
| Alpha 5 Yr | -0.42 |
| R-Sq 3 Yr | 0.69 |
| R-Sq 5 Yr | 0.74 |
| Std Dev 3 Yr | 23.96 |
| Std Dev 5 Yr | 26.48 |
| Sharpe 3 Yr | 0.26 |
| Sharpe 5 Yr | 0.30 |
FAIRX : Fees
| Expense Ratio | 1.00 |
| % Max Load | NA |
| % Min Load | NA |
| % Deferred Load | NA |
| % Redemption | 2.00 |
| % Max 12 B1 Fee | 0.00 |
| % Max Mgt Fee | 1.00 |
FAIRX : Purchase Choices:
| Min Initial Investment | 10000 |
| Min Subsequent Investment | 1000 |
FAIRX : Returns Analysis - Annual
| 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | YTD | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NAV ($) | 18.70 | 22.77 | 25.19 | 28.99 | 31.86 | 21.84 | 30.09 | 35.58 | 23.15 | 31.44 | 37.1 |
| Total Return (%) | 23.96 | 24.94 | 13.70 | 16.70 | 12.37 | -29.71 | 39.01 | 25.46 | -32.41 | 35.80 | 12.21 |
| Annual Dividend Yield (%) | 0.00 | 0.24 | 0.84 | 0.78 | 0.62 | 0.44 | 0.83 | 0.98 | 3.69 | 0.00 | 0.00 |
| Relative Performance | |||||||||||
| Rel Performance-S&P500(%) | -47.27 | 140.76 | 88.09 | 9.10 | 68.79 | 72.97 | 125.93 | 104.05 | -345.17 | 198.16 | -5.29 |
| Rel Performance-Obj.Ret.(%) | -60.15 | 144.24 | 29.78 | 60.05 | 42.70 | 94.16 | 71.86 | 86.69 | -293.86 | 215.33 | 12.70 |
| Ret.Quintile vs Obj(1 is best) | 5 | 1 | 1 | 2 | 2 | 1 | 2 | 1 | 5 | 1 | 3 |
| Turnover, Yields, and Gains | |||||||||||
| Fund Assets Net($mil) | 89 | 235 | 1,441 | 3,839 | 6,463 | 6,696 | 10,558 | 16,847 | 8,015 | 6,992 | 6,992 |
| Annual Turnover (%) | 12.66 | 23.33 | 37.36 | 20.27 | 14.10 | 81.35 | 71.09 | 88.74 | 43.95 | 1.57 | 0.00 |
| Annual Dividend Paid ($) | 0.00 | 0.06 | 0.22 | 0.24 | 0.21 | 0.10 | 0.26 | 0.38 | 0.90 | 0.00 | 0.00 |
| Annual Capital Gains Paid($) | 0.01 | 0.53 | 0.47 | 0.17 | 0.49 | 0.43 | 0.00 | 1.69 | 0.00 | 0.00 | 0.00 |
FAIRX : Returns Analysis - Trailing Total Return
| 1 Month | 3 Month | 6 Month | YTD | 1 Year | 3 Year | 5 Year | 10 Year | 15 Year | 20 Year | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Return (through 05/13) | 3.52% | 7.20% | 11.50% | 12.21% | 17.36% | 3.37% | 4.44% | 11.37% | NA | NA |
| Ret. Percentile vs. Obj. (1 is best) | 1 | 17 | 80 | 41 | 24 | 96 | 49 | 5 | NA | NA |
FAIRX : Stock Portfolio Snapshot - 05/13
| Average Price/Earnings | 23.04 |
| Average Price/Book | 3.23 |
| Average EPS Growth | 11.55 |
| Average Market Value | 6,627.00 |
FAIRX : Stock Sector Breakout - 05/13
FAIRX : Top Holdings - 05/13
| Name | Weight | Shares |
|---|---|---|
| AMERICAN INTERNATIONAL GRP | 38.04 | 80,280,825 |
| BANK OF AMERICA CORP | 11.51 | 81,607,015 |
| SEARS HOLDING CORP | 8.54 | 14,212,673 |
| THE ST JOE CO | 6.86 | 23,136,502 |
| ORCHARD SUPPLY HARDWARE STOR | 0.07 | 592,993 |
| CIT GROUP INC | 3.22 | 6,068,829 |
| MBIA INC | 2.62 | 20,501,100 |
| SEARS CANADA INC | 0.98 | 6,087,327 |
| LEUCADIA NATIONAL CORP. | 3.87 | 12,229,050 |