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Funds (13F)

Fairholme Capital Management LLC

Backtest from 16 Aug 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+14.0%
S&P 500 +14.1%
Last 12 months
+24.3%
S&P 500 +12.1%
Sharpe ratio
0.54
S&P 500 0.78
Biggest drop
−43.5%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$56.3k
StrategyS&P 500 $10,000 in Fairholme Capital Management LLC from 16 Aug 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Fairholme Capital Management LLC's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Fairholme Capital Management LLC's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+14.0%+14.1%
Total return+463%+470%
Last 12 months+24.3%+12.1%
Last 3 months+9.8%—
Last month+6.0%—
This year so far+19.8%—
Volatility a year27.7%16.0%
Sharpe ratio0.540.78
Biggest drop−43.5%−31.8%
Beta to the S&P 5001.011.00
Alpha a year (t-statistic)+2.3% (0.37)—
Share of weeks up53%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
JOE81.9%——
EPD14.4%——
WRB1.3%——
PGR1.1%——
PFE0.4%——
KHC0.3%——
CPB0.2%——
UPS0.2%——
AAPL0.1%——
HOMB0.0%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest16 Aug 2013 to 2 Nov 2026+14.0%+14.1%0.540.78−43.5%1.01+2.3% (0.37)
2018 onwards5 Jan 2018 to 2 Nov 2026+18.1%+13.9%0.600.66−43.5%0.97+7.1% (0.81)
Last three years3 Nov 2023 to 2 Nov 2026+13.8%+21.8%0.471.16−29.0%0.65+0.8% (0.06)
Last year7 Nov 2025 to 2 Nov 2026+21.1%+14.2%0.760.84−12.3%0.38+14.0% (0.60)
DateCompanyAction
21 Aug 2026UPSBought
21 Aug 2026PFEBought
21 Aug 2026CPBBought
22 May 2026KHCBought
22 May 2026HOMBBought
20 Feb 2026TGTBought
20 Feb 2026PGRBought
20 Feb 2026NRPBought
20 Feb 2026CFBought
16 May 2025FANGBought
16 May 2025CNRBought
21 Feb 2025OXYBought
21 Feb 2025EOGBought
15 Nov 2024WRBBought
15 Nov 2024JOEBought
15 Nov 2024EPDBought
15 Nov 2024AAPLBought

Dated at the rebalance that made the change.

DateCompanyAction
22 May 2026TGTSold
22 May 2026OXYSold
22 May 2026NRPSold
22 May 2026FANGSold
22 May 2026EOGSold
22 May 2026CFSold
20 Feb 2026CNRSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest