Picking Through Intriguing 13F Filings

By now all institutional investment professionals and large hedge funds have filed their quarterly 13F reports, revealing their latest purchases and sales in the 2012 fourth quarter. After looking over several dozen of these filings, some interesting names showed up that may be worth a closer look.

Fairholme Capital, the multi-billion value fund run by Bruce Berkowitz, posted an interesting filing about  company micro-cap home improvement retailer Orchard Supply Hardware (OSH), a $38 million dollar company at today's market price. The initial intrigue focused on why a multi-billion fund is investing in a microcap. I quickly found out that OSH was spun out of Sears Holding (SHLD), of which Fairholme is a big shareholder. But Orchard is a spinoff and guys like Berkowitz have no interest in owning a microcap. So the natural move is to monetize the asset and sell -- and that's clearly what is happening to Orchard. Less than a year ago, the shares were trading for $27; today the stock trades below $6....383 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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