Fairholme Capital Updates Stakes in Sears Canada, St. Joe's ~ market folly

Monday, October 5, 2015

Fairholme Capital Updates Stakes in Sears Canada, St. Joe's

Fairholme Capital's Bruce Berkowitz recently made a few filings with the SEC.  First, an amended 13G on its position in Sears Canada (SRSC).  According to the SEC filing, Berkowitz now owns 17.23% of the company with 17.55 million shares.  The filing was made due to activity on September 29th.  This compares to the 16 million shares that Fairholme reported in its last 13F filing as of the second quarter.

Second, Fairholme also filed an amended 13D on their longtime holding St. Joe's (JOE).  Per the filing, Fairholme now owns 32.3% of the company with 24.4 million shares.  This filing was required due to activity on September 28th.  This is a slight decrease from the 24.6 million shares Fairholme was shown to own at the end of Q2 per its most recent 13F filing. 

Fairholme's latest 13D shows they sold 105,000 shares at $18 on September 21st and 2,200 shares on August 21st at $16.78 and the fine print notes theses sales were "sold in an issuer tender offer at the direction of an advisory client" and then "sold at the discretion of an advisory client" respectively.

You can view past Fairholme portfolio activity here.

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