Fairholme Focused Income Fund (FOCIX) Diversifiers

The fund invests in a focused portfolio of cash distributing securities. To maintain maximum flexibility, the securities in which the fund may invest include corporate bonds and other corporate debt securities of issuers in the U.S. and foreign countries, bank debt (including bank loans and participations), government and agency debt securities of the U.S. and foreign countries (including U.S. Treasury bills), convertible bonds and other convertible securities, and equity securities, including preferred and common stock of issuers in the U.S. and foreign countries, and interests in REITs.