Fairholme Capital Buys Some Sears Shares ~ market folly

Thursday, March 16, 2017

Fairholme Capital Buys Some Sears Shares

Bruce Berkowitz's investment firm Fairholme Capital has filed a Form 4 with the SEC regarding its position in Sears Holdings (SHLD).  Per the filing, Berkowitz bought 84,200 SHLD shares on March 10th at $8.33 and then bought another 197,700 shares on March 14th at $8.82.

Fairholme owns over 27.7 million shares of SHLD and keep in mind they own warrants as well with an expiration of December 15th, 2019 and exercise price of $25.686.

Per Google Finance, Sears Holdings is "an integrated retailer. The Company is the parent company of Kmart Holding Corporation (Kmart) and Sears, Roebuck and Co. (Sears). It operates through two segments: Kmart and Sears Domestic. It operates approximately 940 Kmart stores across over 50 states, Guam, Puerto Rico and the United States Virgin Islands. Kmart stores carry an array of products across various merchandise categories, including seasonal merchandise, toys, lawn and garden equipment, food and consumables and apparel, including products sold under labels, such as Jaclyn Smith, Joe Boxer and Alphaline and certain Sears brand products (such as Kenmore, Craftsman and DieHard) and services. Its Sears Domestic segment's operations consist of full-line stores, specialty stores, commercial sales and home services. Full-line stores offer an array of products and service offerings across various merchandise categories, including appliances, consumer electronics/connected solutions and tools."

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