Eddie Lampert's RBS Maintains Stakes in Citi, CIT, Reduces Exposure to Other Financials, Takes a Little Sears Off the Table

Eddie Lampert's RBS Partners hedge fund has just issued its 13F for the quarter ended March 31, 2010. The manager sold a chunk of his massive Sears stake (probably a prudent move) and maintained positions in both CIT Group and Citi. Also in the Financial group, Lampert reduced his stake in Wells Fargo and dissolved his position in BofA, although this last position was relatively small before.

Notable Changes:

• sold 4.6 million shares of Sears (Nasdaq: SHLD), bringing his stake to 61.4 million shares
  
• sold about 873,000 shares of AutoZone (NYSE: AZO), leaving him with almost 19.3 million shares
  
• cut his stake in Capital One (NYSE: COF) by about 472,000 shares to 9.14 million shares
  
• sold more than 675,000 shares of Genworth (NYSE: GNW), bringing his stake at exactly 8.1 million shares
  
• lowered his position in Acxiom (Nasdaq: ACXM) by 1.51 million shares to 1 million shares
  
• Wells Fargo (NYSE: WFC) position reduced by 940,700 shares to 559,290 shares
  
• sold more than half of his stake in SLM Corp. (NYSE: SLM), from about 2.88 million shares to now under 1.1 million shares
  
• liquidated his stake in Bank of America (NYSE: BAC, although it was not substantial prior to this last quarter: about 450,000 shares
  
• maintained a 4.53 million share position in CIT (NYSE: CIT)
  
• maintained a 31.25 million share stake in Citigroup (NYSE: C)

As the Lampert die-hards will notice, AutoNation (NYSE: AN) seems to be missing. That's because Eddie disclosed an increased stake in the company at a more recent date than the 31st of March: he added almost 973,000 shares to his position on April 13. Lampert now holds just over 78 million shares in AutoNation.

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