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Fairholme Capital Management, L.L.C. (Miami)


Fairholme Capital Management, L.L.C. is a large advisory firm based in Miami. It manages $1.86 billion of regulatory assets for 141 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Florida, Maine, Maryland, and 4 other states.

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Fairholme Capital Management, L.L.C provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Fairholme Capital Management, L.L.C: assets under management

The assets under management (AUM) of Fairholme Capital Management, L.L.C. is $1.86 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 161% since the beginning of its operation, and $129.46 million of the total AUM is attributable to clients outside of the United States.


The firm manages $1.86 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $13.21 million each.
Fairholme Capital Management, L.L.C has custody of $73.62 million in cash and securities for 6 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in cash and cash equivalents the most. They account for 56% of the total AUM. The second-largest asset type is exchange traded securities, which make up 39% of the firm’s portfolio. Investments in investment grade corporate bonds form 5% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Fairholme Capital Management, L.L.C. for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Charles M. Fernandez serves?

The firm provides services to individuals, investment companies, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Charles M. Fernandez is investment companies with 3 clients and $1.31 billion of assets under management. Among the 8 most similar advisory firms, Fairholme Capital Management, L.L.C has the highest percentage of investment companies out of all clients.


The amount of regulatory assets under management is $1.86 billion for 141 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 50% of the firm’s clients are foreign persons or businesses.

Fairholme Capital Management, L.L.C also advises several private funds. Namely, two hedge funds and one liquidity fund. The minimum investment commitment required of non-related persons ranges from $250,000 to $5,000,000.

Careers at Fairholme Capital Management, L.L.C.

The company employs 13 people that are either part- or full-time employees. 38 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Charles M. Fernandez has been acting as President since 1 Nov 2008. Bruce Robert Berkowitz has served as the Chief Investment Officer since 1 Jun 1997. Fairholme Holdings Llc joined the executive team most recently as the Sole Member.

Direct owners and executive officers



Name Entity Date acquired Ownership Employer ID
Bruce Robert Berkowitz Chief investment officer 1 Jun 1997 Other 1190686
L.L.C. East Lane Member 1 Jun 1997 25% - 50% 22-3477327
Michael J Senior Chief operating officer 1 Jun 1998 Other 4345110
Keith David Trauner Chief financial officer 1 Dec 2001 Other 710475
Keith David Trauner Chief compliance officer 1 Dec 2003 Other 710475
Lllp Gables Investment Partnership Member 1 Jun 2007 50% - 75% 26-0342667
Charles M. Fernandez Chief operating officer 1 Dec 2007 Other 5484235
Paul R. Thomson Chief financial officer 1 Jan 2008 Other 5484239
Charles M. Fernandez President 1 Nov 2008 Other 5484235
Fernando Manuel Font Chief compliance officer 1 Nov 2008 Other 2744579
Paul R. Thomson Chief operating officer 1 Nov 2008 Other 5484239
Fernando Manuel Font Chief administrative officer 1 Aug 2009 Other 2744579
Kathryn Sharaf Battistella Chief compliance officer 1 Aug 2009 Other 2739727
Paul R. Thomson Chief compliance officer 1 Apr 2010 Other 5484239
Deborah A. Reperowitz General counsel 1 May 2010 Other 5889571
Fred Steven Fraenkel Chief research officer 1 Oct 2011 Other 1367622
Wayne Kellner Chief financial officer and chief operating officer 1 Jan 2012 Other 6014346
Fred Steven Fraenkel President and chief research officer 1 Jan 2013 Other 1367622
Fairholme Holdings Llc Sole member 1 Jan 2015 75% - 100% 47-2839254

Indirect Owners

The SEC currently registers 5 indirect owners.

Name Entity Date acquired Ownership Employer ID
Llc Gables Investment Gp General partner 1 Jun 2007 Other 26-0342485
Bruce Robert Berkowitz Managing member 1 Jun 2007 75% - 100% 1190686
East Lane Llc Member 1 Jan 2015 25% - 50% 22-3477327
Lllp Gables Investment Partnership Member 1 Jan 2015 50% - 75% 26-0342667
Bruce Robert Berkowitz Manager 1 Jan 2015 Other 1190686

Based in Miami

The principal office where Fairholme Capital Management, L.L.C. performs its advisory services is located at 2601 Ne 2 Nd Avenue, Miami, FL 33137, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 3053583000 or by fax 3053588002. The normal business hours are 8:30 am - 5:30 pm on Monday - Friday. You can find more information about the New York firm at fairholmefunds.com.


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