Edward S. Lampert, ESL Investments Increase Position in Sears Holdings Corp (SHLD)

Edward S. Lampert and his fund ESL Investments have raised their stake in Sears Holdings Corp (NASDAQ:SHLD). A newly amended filing with the SEC revealed ESL holding around 51.6 million shares of the company, up from 33.9 million held at the end of September, according to the fund's latest 13F. ESL holds 48.4% of the company's common stock, the value of the position amounting to close to $2.9 billion, at the current stock price of the company.


According to a form 4, Mr. Lampert has recently received around 7,200 shares of Sears, under the company's stock plan. Mr. Lampert serves as Chairman of Sears Holdings Corp (NASDAQ:SHLD). At the same time, ESL has distributed around 7.4 million shares of the company at the beginning of December.

Sears Holdings Corp (NASDAQ:SHLD) has posted a net loss of $534 million, equal to $5.03 per share in the third quarter of 2013, higher then $498 million reported in the same period of 2012. The revenue fell to $8.3 billion, from $8.9 billion in the third quarter of 2012. Recently the company announced that its partial subsidiary, Sears Canada sold five of its store leases to Cadillac Fairview Corporation Limited, the value of the deal amounting to approximately $375 million (400 million CAD). Sears Canada was partially spun off last year, Sears Holding trimming its exposure to 51% from 95.5% held previously.

ESL is the largest shareholder of Sears and the recent filing shows that the fund has solidified its position. Sears Holdings Corp (NASDAQ:SHLD) is also the largest holding in ESL's equity portfolio.  Fairholme (Fairx), managed by Bruce Berkowitz disclosed holding 20.8 million shares, worth around $1.2 million in its latest 13F.

Recently, Mr. Lampert's fund has been trimming its holding in AutoNation, Inc. (NYSE:AN). A couple of days ago, the fund reported selling another 148,000 shares, currently holding directly 14.8 million shares, down from 19.4 million disclosed in the latest 13F.

Disclosure: none

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