market folly

Bruce Berkowitz's investment firm Fairholme Capital has filed an amended 13G with the SEC regarding its position in Lands End (LE).  Per the filing, Fairholme now owns 10.5% of Lands End with over 3.35 million shares.

This is an increase of 353,200 shares since the end of the second quarter when they owned 2.99 million shares.  The filing was made due to activity on September 30th.

Berkowitz originally received his stake in LE as a spin-off from Sears Holdings (SHLD), which he has been a big holder of for some time.

Per Google Finance, Lands End is "a multi-channel retailer of casual clothing, accessories and footwear, as well as home products. The Company operates through two segments: Direct and Retail. The Company offers products through catalogs, online at www.landsend.com. The Direct segment sells products through the Company's e-commerce Websites, international Websites and direct mail catalogs. The Retail segment sells products and services through Lands' End Shops at Sears across the United States, the Company's standalone Lands' End Inlet stores and international shop-in-shops. The Company's product categories include Apparel and Non-apparel. The Non-apparel category offers accessories, footwear and home goods. The Company provides embroidery, monogramming, gift wrapping, shipping and other services. In addition, the Company offers sheets and pillowcases, duvet covers and comforters, blankets and throws, mattress pads, towels, rugs and mats, school uniforms and shower curtains."