FAIRX Performance — The Fairholme Fund
Data updated: 2026-07-28
FAIRX returned +6.02% year to date and +35.62% over one year to May 2026. Annualised returns are +12.62% over 3 years and +6.38% over 5 years. The fund beat its Real Estate Equity category average: $100 invested three years ago grew to $143, against $131 for the category, and to $136 over one year, against $113. Volatility over the past three years was 26.99% a year. In the 12 months to May 2026 the fund lost a net $63.9M, and assets reached $1.29B.
FAIRX Growth of $100
What $100 invested in The Fairholme Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Real Estate Equity category average over the same months.
| Period | FAIRX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $136 | $113 |
| 3 years (Jun 2023 – May 2026) | $143 | $131 |
| 5 years (Jun 2021 – May 2026) | $136 | $112 |
| Since data start (Sep 2019 – May 2026) | $215 | $150 |
FAIRX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +6.02% |
| 1 year | +35.62% |
| 3 years (annualised) | +12.62% |
| 5 years (annualised) | +6.38% |
FAIRX Annual Returns
Calendar-year total returns of The Fairholme Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +6.02% |
| 2025 | +29.53% |
| 2024 | −17.42% |
| 2023 | +46.73% |
| 2022 | −20.51% |
| 2021 | +6.88% |
| 2020 | +46.91% |
| 2019 (Sep–Dec) | +3.59% |
FAIRX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +9.9% | +7.3% | −10.7% | +2.3% | −1.6% | — | — | — | — | — | — | — |
| 2025 | +5.8% | +0.2% | −1.1% | −8.1% | +5.1% | +5.5% | +4.3% | +0.8% | −1.3% | +11.2% | +5.8% | −0.7% |
| 2024 | −6.3% | −1.7% | +6.8% | −1.0% | −0.5% | −2.6% | +10.1% | −2.7% | −1.4% | −9.0% | +1.1% | −9.9% |
| 2023 | +18.1% | −7.7% | −2.2% | −1.1% | +10.4% | +3.9% | +26.0% | −2.1% | −9.8% | −11.6% | +8.5% | +13.7% |
| 2022 | −5.7% | +9.7% | +8.6% | −8.1% | −4.2% | −18.3% | +5.6% | −7.1% | −13.2% | +9.3% | +5.6% | 0.0% |
| 2021 | −1.0% | +9.0% | −10.7% | +5.9% | +1.6% | −8.7% | +1.0% | +1.1% | −6.4% | +9.6% | +1.3% | +6.3% |
| 2020 | +1.0% | −4.0% | −14.8% | +5.5% | +6.8% | −1.6% | +4.9% | +8.0% | −6.4% | +13.1% | +16.6% | +14.9% |
| 2019 | — | — | — | — | — | — | — | — | −0.1% | +0.4% | −0.9% | +4.2% |
FAIRX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 26.99%
- 3-year Sharpe ratio: 0.30 (vs 4.5% risk-free rate)
- Best month: +25.99% (Jul 2023)
- Worst month: −11.63% (Oct 2023)
FAIRX Fund Flows
Monthly money in and out of The Fairholme Fund, from SEC Form N-PORT.
- 12-month net flow: −$63.9M
- 12-month gross sales (incl. reinvestments): $21.2M
- Sales ÷ redemptions: 0.25×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $541K | $4.6M | −$4.1M |
| Apr 2026 | $346K | $4.7M | −$4.3M |
| Mar 2026 | $414K | $7.8M | −$7.4M |
| Feb 2026 | $730K | $7.1M | −$6.3M |
| Jan 2026 | $723K | $8.0M | −$7.3M |
| Dec 2025 | $4.7M | $9.6M | −$4.9M |
| Nov 2025 | $99K | $9.0M | −$8.9M |
| Oct 2025 | $11.5M | $8.7M | $2.8M |
| Sep 2025 | $375K | $5.7M | −$5.3M |
| Aug 2025 | $213K | $7.2M | −$7.0M |
| Jul 2025 | $419K | $6.3M | −$5.9M |
| Jun 2025 | $1.2M | $6.4M | −$5.3M |
FAIRX Assets Under Management
Net assets of The Fairholme Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-29 | $1.29B |
| 2026-02-27 | $1.45B |
| 2025-11-28 | $1.26B |
| 2025-08-29 | $1.10B |
| 2025-05-30 | $1.01B |
| 2025-02-28 | $1.10B |
| 2024-11-29 | $1.20B |
| 2024-08-30 | $1.35B |
| 2024-05-31 | $1.32B |
| 2024-02-29 | $1.29B |
| 2023-11-30 | $1.25B |
| 2023-08-31 | $1.46B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.