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, firstname.lastname@example.org