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Lampert Reports Little Change in Sears Stake, No Cisco, Wells Fargo Stakes

By Steven D. Jones DOW JONES NEWSWIRES Hedge fund billionaire and Sears Holding Corp. (SHLD) Chairman Edward Lampert's RBS Partners reported a modest reduction in his stake in the department store company, as well as no longer holding shares of Cisco Systems Inc. (CSCO) or Wells Fargo & Co. (WFC). RBS, known for large bets on the stocks of a small number of companies, reported its holding of Sears shares had dropped by 148,600 shares, or 0.3%. RBS Partners held slightly more than 48 million shares in Sears at year end, down from 48.2 million reported in the third quarter. Overall, the value of stocks reported by RBS Partners fell to $5.7 billion, from $9.1 billion three months earlier. The change in RBS's holdings was reported in a Securities and Exchange Commission filing on Tuesday. Many investors who manage more than $100 million are required to disclose most securities holdings within a month and a half of the end of a quarter. The filings, known as 13-Fs, give the public a relatively fresh look at the portfolios of well-known investors. The biggest change to Lampert's portfolio since the September report was the absence of holdings of Cisco and Wells Fargo. Three months earlier Lampert reported holding 7.5 million shares of Cisco and 4.6 million shares of Wells Fargo. Lampert holds large positions in Sears, AutoNation Inc. (AN) and Gap Inc. (GPS). He reported reduced stakes of AutoZone Inc. (AZO), Seagate Technology Inc. (STX) and Capital One Financial Corp. (COF). The hedge-fund manager created Sears Holding in 2005 by merging Sears and Kmart. Sears shares were unchanged in after-hours trading after moving up 3.3% to $48.77 during the regular session. Lampert, who serves as Sears chairman and whose investment company controls Sears, has closed 171 full-size Sears stores since the merger and his Web initiatives and branding ventures have failed to make up for the revenue losses of its shrinking store empire. -By Steven D. Jones, Dow Jones Newswires, 360-834-1865, steve-d.jones@dowjones.com

Stock News for Sears (SHLD)
DateTimeHeadline
03/30/201506:57:33Sears Holdings: Don't Undervalue The REIT Plans
03/30/201505:15:48Comparing America's Next 3 Department Stores Companies
03/28/201511:32:01What Sam Walton Would Say About Walmart's New Minimum Wage
03/26/201508:26:47Sears Holdings: Why Its Real Estate Cannot Be Compared To Macerich...
03/24/201522:52:12Correction to Companies Split Off Real-Estate Assets Article
03/24/201517:57:08Statement of Changes in Beneficial Ownership (4)
03/24/201517:50:20Companies Split Off Real-Estate Assets
03/24/201517:06:38Initial Statement of Beneficial Ownership (3)
03/24/201517:06:38Initial Statement of Beneficial Ownership (3)
03/24/201510:30:09Sears Holdings Risk Rises as Vendors Get Nervous ... Again
03/23/201507:48:00The Craftsman MAKEcation(SM) Event Is Back And This Time It's...
03/21/201508:00:02Why This Well-Known Retailer Isn't Built to Last
03/20/201519:08:22Sears' REIT Proceeds Should Buy It 2 More Years Of Life
03/20/201508:02:02Yet Another Ominous Development for Sears Holding Corp.
03/19/201516:48:34Statement of Changes in Beneficial Ownership (4)
03/19/201509:31:58Sears Holdings +3.7% after blog post tips REIT closing date
03/17/201516:43:22Securities Registration: Employee Benefit Plan (s-8)
03/17/201516:33:51Additional Proxy Soliciting Materials (definitive) (defa14a)
03/17/201516:26:55Proxy Statement (definitive) (def 14a)
03/16/201517:12:13Statement of Changes in Beneficial Ownership (4)

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