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Hedge fund billionaire and Sears Holding Corp. (SHLD) Chairman Edward Lampert reported no stake in Citigroup Inc. (C) but built new positions in Cisco Systems Inc. (CSCO) and Gap Inc. (GPS) last quarter.
Lampert, known for large, concentrated bets on the stocks of a small number of companies, gave no mention of 22.1 million Citigroup shares held as of Sept. 30, in a filing to the Securities and Exchange Commission. But Lampert-affiliated RBS Partners' 6.4 million shares in Cisco plus the disclosure of 3.8 million in Seagate Technology Inc.'s (STX) stock pushes the Sears chairman further into the technology sector.
Overall, the value of stocks reported by RBS Partners rose to $9.2 billion, up from $8.4 billion three months earlier.
Lampert holds large positions in Sears, AutoNation Inc. (AN) and AutoZone Inc. (AZO) stocks. He made no changes to the Sears and AutoNation stakes and only modest ones to AutoZone last quarter.
The hedge-fund manager created Sears Holding in 2005 by joining Sears and Kmart.
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 give the public a relatively fresh look at the portfolios of well-known investors.
-By Brendan Conway, Dow Jones Newswires; (212) 416-2670; email@example.com