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Re: Prudent Capitalist post# 646

Saturday, 10/10/2020 5:19:59 AM

Saturday, October 10, 2020 5:19:59 AM

Post# of 1127
Luckily, Weschler bought this dog for himself, not BRK!

"Berkshire Hathaway’s R. Ted Weschler Bought Up Dillard’s Stock"

"Berkshire Hathaway investment manager and one of Warren Buffett ’s lieutenants R. Ted Weschler disclosed a large position in embattled retailer Dillard’s.

Dillard’s (ticker: DDS) stock has tumbled nearly 43% so far this year through Friday’s close. The department-store chain had seen sales tumble and losses widen even before the coronavirus pandemic. Dillard’s stock was removed from the S&P 400 in June 2020 as the company “is no longer representative of the midcap market space,” S&P Dow Jones Indices said in a press release at the time. One observer noted that Dillard’s was among retailers that “face elevated bankruptcy risks.”

Weschler disclosed he had overall ownership of 1.08 million Dillard’s shares, a 5.89% stake, as of Friday. The timing of his purchases of Dillard’s stock wasn’t noted, but he crossed the 5% threshold on Sept. 29, necessitating the filing of a form with the Securities and Exchange Commission. The stake doesn’t represent a Berkshire Hathaway ( BRK.B ) investment.

He noted in the form, “Certain securities reported in this Schedule 13G are held in a trust for the benefit of family members. "

https://www.marketwatch.com/articles/berkshire-hathaway-ted-weschler-bought-up-dillards-stock-51602279170

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