Bruce Berkowitz : Berkshire Hathaway remains our largest single investment, and for good reason

Since inception, $10,000 invested in The Fairholme Fund with dividends reinvested has grown to $35,206 while $10,000 invested in the S&P 500 Index with dividends reinvested has grown to $11,613. In other words, the Fund has appreciated roughly 18.26% per annum compared to a gain of 2.01% per annum for the S&P 500.

The Fund continues to own a stable of terrific businesses with some of the most competent and honorable business jockeys in the world.

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