Fairholme’s Bruce Berkowitz now increased his holdings to 12.2% of Sears Holdings (SHLD) stock
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1. 16,110,090 (12.2%) Common Shares of Sears Holdings Corporation are owned, in the aggregate, by various investment vehicles managed by Fairholme Capital
Management, L.L.C. (“FCM”)of which 12,233,871 shares are owned by Fairholme
Funds, Inc. Because Mr. Berkowitz, in his capacity as the Managing Member of FCM
or as President of Fairholme Funds, Inc., has voting or dispositive power over
all shares beneficially owned by FCM, he is deemed to have beneficial ownership
of all such shares so reported herein.
While the advisory relationship causes attribution to Bruce Berkowitz, Fairholme
Funds, Inc. or FCM of certain indicia of beneficial ownership for the limited
purpose of this Schedule 13G, Bruce Berkowitz, Fairholme Funds, Inc. and FCM
hereby disclaim ownership of these shares for purposes of interpretations under
the Internal Revenue Code of 1986, as amended, or for any other purpose, except
to the extent of their pecuniary interest.
Disclosure (“none” means no position):Long SHLD
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4 replies on “Fairholme Files 13G in Sears Holdings, Increases Ownership”
It’s 6th grade math.
What this tells me is that Berkowitz and company are not wavering from their initial evaluation of Sears Holdings. This action speaks volumes more than any morningstar interview could.
I agree with Vlado – this speaks volumes. I am also long SHLD and averaged down recently.
I wish the authors of the various seekingalpha, gurufocus, and morningstar blogs/articles would now change the title and focus of their postings. More specifically, instead of providing amateur analysis of SHLD’s intrinsic value or the potential for SHLD to go bankrupt – they should simply write that Ackman, Berkowitz, Tilson, and Lampert are all idiots. Because that’s what people are insinuating when they criticize SHLD.
That’s not to say that some great financial minds don’t get it wrong every so often – but if such respected, concentrated value investors are taking substantial stakes in a company, you might be better served to hold off on posting your opinion – rather than directly contradict decades of combined investing experience.
Chris
http://www.globest.com/news/1213_1217/philadelphia/172939-1.html