Bruce Berkowitz Reduces Sears Position ~ market folly

Wednesday, October 24, 2018

Bruce Berkowitz Reduces Sears Position

Bruce Berkowitz's Fairholme Capital has filed a 13G with the SEC regarding its position in Sears Holdings (SHLD).  Per the filing, Fairholme now owns 4.2% of the company with over 4.57 million shares.

This is a sizable decrease from the previous 17.42 million shares Fairholme reported owning at the end of the second quarter.  The most recent filing was due to portfolio activity on October 15th. 

Sears recently filed for bankruptcy and Berkowitz has ridden this investment all the way down, making it one of his biggest mistakes.

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