Eddie Lampert Reduces Stake In Auto Nation And Gap


The 13F filing of RBS Partners LP, the hedge fund managed by Eddie Lampert, with the Securities and Exchange Commission (SEC) showed that it has only four equity holdings for the third quarter the ended September 30, 2012.

Eddie Lampert reduced positions

The hedge fund did not make any acquisitions during the period, but it reduced its stake in AutoNation, Inc. (NYSE:AN) by 824,203 shares to 19,444,479 shares. Its investment in the company is worth $1,014,418,000, which accounts for 29.17% of its portfolio.

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During the third quarter, AutoNation, Inc. (NYSE:AN) reported $0.75 earnings per share, an increase of 13.6% from its $0.66 earnings per share in the same period a year ago. The automotive retailer also generated a 13.7% increase in revenue to $4.47 billion. As of October, AutoNation said its total retail new vehicle sales increased 9% year over year to 22,914 units.

RBS Partners also dumped 3,778,318 shares of The Gap Inc. (NYSE:GPS) to $6,585,021 shares. Its stockholding in the company is worth $26,245,000 representing 7.63% of its portfolio.

The stock price of The Gap Inc. (NYSE:GPS) climbed from $29.84 to $46.56 per share over the past 52 weeks. The shares of the company closed at $42.05 per share on Thursday. The company recently announced a quarterly dividend of $0.20 per share payable on or after January 29, 2014 to shareholders on record at the close of business on January 8 next year.

Eddie Lampert’s maintained positions

The investment management firm maintained its stake in Sears Holdings Corporation (NASDAQ:SHLD) and Sears Hometown and Outlet Stores Inc (NASDAQ:SHOS). RBS Partners owns 33,856,069 shares of Sears Holdings worth $2,014,098,000 while its stake in Sears Hometown is worth $183,719,000.

Over the past 52-week range the stock price of Sears Holdings increased from $38.40 to $66 per share. On Thursday, the stock closed at $63.68 per share. On the other hand, the stock value of Sears Hometown climbed from $26.78 to $57.44 per share over the same period. The stock’s closing price on Thursday was $28.56 per share, 50% down from its highest trading price over the past 12 months.