Like Seth Klarman from a previous post, Fairholme’s (FAIRX) Bruce Berkowitz is using the market weakness to add shares.
Berkowitz added over 7 million share of AmeriCredit (ACF) brining his total to over 21 million shares. From the filing:
21,049,200 shares of Americredit Corp. are owned, in the aggregate, by various
investment vehicles managed by Fairholme Capital Management, L.L.C. (“FCM”)of
which 15,588,200 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 Amendment, 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.
Berkowitz now owns 18% of ACF and between Fairhome and Leucadia (LUK) combined, own over 50%. Leucadia, is Berkowitz’s 7th largest holding.
Disclosure (“none” means no position):none
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