These are The Fairholme Fund's own holdings, not the firm's. Percentages are of the stock positions in its latest filing — the fund's cash and bonds are not included. Bruce Berkowitz is the founder and Chief Investment Officer of Fairholme Capital Management, which he established in 1997, and President of Fairholme Funds, Inc. He launched The Fairholme Fund in 1999. Prior to founding Fairholme, Berkowitz was a Managing Director at Smith Barney from 1993 to 1997 and previously served as a senior portfolio manager at Lehman Brothers Holdings. Berkowitz is a concentrated value investor known for his contrarian approach and willingness to make focused bets on deeply undervalued companies. He seeks businesses with strong management teams, intrinsic value, and dependable cash flows, often holding a highly concentrated portfolio. His investment philosophy draws inspiration from Benjamin Graham's "The Intelligent Investor." In 2009, Morningstar named Berkowitz both Domestic-Stock Fund Manager of the Year and Domestic-Stock Fund Manager of the Decade (2000-2009), recognizing his exceptional stock-picking ability during that period. He was also named 2013 Money Manager of the Year by Institutional Investor Magazine. Berkowitz earned a Bachelor of Arts degree in Economics from the University of Massachusetts Amherst in 1980.
$1.16B
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