Bruce Berkowitz launched Fairholme in 1999. It earned him the title of “Stock Manager of the Decade” from Morningstar and is now a $19 Billion mutual fund. Berkowitz’s Fairholme Fund managed to return 1.02% per month since September 2000. This compounds to an average annual return of 12.9% for the past 10 years. In 2010, Fairholme Fund returned 25.5%, beating the SPY by more than 10 percentage points. In fact, Berkowitz managed to beat the market every year except in 2003.
| Fund Name: | Fairholme (Fairx) |
| Manager | Bruce Berkowitz |
| Portfolio Value | $14,440,522,000 |
| Change This QTR | +0.91% |
| No. | Security | Ticker | Shares | Value (x$1000) | Activity | % Port |
|---|---|---|---|---|---|---|
| 1.) | AIG | 44,198,015 | $1,553,118 | -0% |
10.75% | |
| 2.) | SHLD | 16,313,973 | $1,348,350 | +9% |
9.33% | |
| 3.) | BAC | 92,648,715 | $1,235,007 | +1% |
8.55% | |
| 4.) | C | 258,442,600 | $1,142,316 | +9% |
7.91% | |
| 5.) | GS | 6,702,300 | $1,062,113 | +14% |
7.35% | |
| 6.) | MS | 38,891,300 | $1,062,510 | +1% |
7.35% | |
| 7.) | RF | 124,035,304 | $900,496 | -0% |
6.23% | |
| 8.) | BAM | 27,500,000 | $892,650 |  |
6.18% | |
| 9.) | CIT | 19,862,429 | $845,146 | -1% |
5.85% | |
| 10.) | LUK | 18,830,881 | $706,911 | -1% |
4.89% |
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