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.
Berkowitz initiated positions in two stocks in the second quarter. Fairholme now has $84 Million in Jefferies Group (JEF) and about $24 Million in Assured Guaranty (AGO).
Check out the new stock picks and portfolios of other top hedge fund managers as of the end of the second quarter.
1. Dan Loeb’s Third Point
2. David Einhorn’s Greenlight Capital
3. Eric Mindich’s Eton Park
4. Roberto Mignone’s Bridger Management
5. Julian Robertson’s Tiger Management
6. Patrick McCormack’s Tiger Consumer
7. Whitney Tilson’s T2 Partners
8. Barry Rosenstein’s Jana Partners
9. Seth Klarman’s Baupost Group
10. Ray Dalio’s Bridgewater Associates
11. Charles Akre’s Akre Capital
12. Richard Perry’s Perry Capital
13. Joel Greenblatt’s Gotham Capital
14. David Abrams’ Abrams Capital Management
15. Jim Simons’ Renaissance Technologies
16. David Tepper Appaloosa Management
17. John Paulson Paulson & Co.
18. George Soros Soros Fund Management
19. Leon Cooperman Omega Advisors