Fairholme Capital Reduces Sears Canada Position

Bruce Berkowitz's investment firm Fairholme Capital has filed an amended 13D regarding shares of Sears Canada (SRSC).  Per the filing, Berkowitz now owns 18.7% of SRSC with just over 19 million shares.

This is a decrease of over 2.39 million shares since the end of July when Fairholme reported owning over 21.43 million SRSC shares. 

The latest portfolio activity comes in late July and early August as Fairholme sold shares as high as $0.61 and as low as $0.25.  After this round of sales, Fairholme still owns 19 million SRSC shares.

We've covered other recent portfolio activity from Fairholme Capital here.

Fairholme Capital Adds To Sears Canada Position

Bruce Berkowitz's investment firm Fairholme Capital has filed a 13D on shares of Sears Canada (SRSC).  Per the filing, Fairholme now owns 20% of SRSC with 20.37 million shares.

This is an increase of 153,354 shares since the end of the third quarter.  The filing was made due to activity as recent as November 29th with the bulk of their purchase coming at $1.79 per share.

You can view the rest of Fairholme's equity portfolio in the new issue of our newsletter here.

Per Yahoo Finance, Sears Canada "operates as a multi-format retailer in Canada. It operates department stores that offer a range of merchandise, including apparel, home fashions, and appliances; home stores, which provide home furnishings, appliances, and home electronics; outlet stores that sell surplus merchandise."

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.