FYI: Bruce Berkowitz’s Fairholme Capital Management LLC exited its common-stock investments in Fannie Mae and Freddie Mac in the third quarter, while limiting disclosures about preferred stakes in the U.S. mortgage-finance companies.
The investment firm opted to stop disclosing preferred stakes because U.S. Securities and Exchange Commission rules don’t require them to be listed, the firm said in today’s Form 13F filing.
Fairholme’s investments in Fannie Mae and Freddie Mac were concentrated in the preferred securities, previous filings show. Investments in the firms accounted for about 15 percent of the portfolio at Berkowitz’s main Fairholme Fund, according to a July 29 letter.
Regards,
Ted
http://www.bloomberg.com/news/print/2014-11-14/fairholme-exits-fannie-freddie-common-limits-disclosures.html
