- Edward Lampert’s 13F portfolio decreased from $1.02B to $882M this quarter.
- RBS Partners reduced IBM, Fossil Group, and Gap Inc. Also, a small position in Seagate Technology was dropped.
- The largest three individual stock positions are Sears Holdings, AutoNation, and Lands End and they add up to ~75% of the portfolio.
Edward Lampert’s 13F portfolio decreased ~13% from $1.02B to $882M this quarter. The portfolio is very concentrated with recent 13F reports showing just ~10 stakes. The top five positions are Sears Holdings (SHLD), AutoNation (AN), Lands’ End (LE), Sears Canada (SRSC), and Gap Inc. (GPS) and they add up to ~95% of the 13F portfolio.
Below is a look at the significant moves this quarter:
Fossil Group (FOSL) & Seagate Technology (STX): These were small new stakes established last quarter. FOSL was established at prices between $26.24 and $44.42 and decreased by ~16% this quarter. The stock is now at $26.37. STX was purchased at prices between $18.72 and $35 and disposed of this quarter at prices between $21 and $39. It currently trades at $39.62.
International Business Machines (IBM): IBM is a ~6% of the portfolio position. It was established in Q3 & Q4 2015 at prices between $132 and $173. Last quarter saw a ~10% trimming at prices between $143 and $155. This quarter saw another ~40% reduction at prices between $152 and $164. The stock is now at $167.
Gap Inc. (GPS): GPS is a top-five 6.44% of the portfolio stake established in Q2 & Q3 2015 at prices between $28 and $43. There was a ~25% selling this quarter at prices between $18 and $27. The stock currently trades at $23.48.
Below is a spreadsheet that shows the changes to Edward Lampert's RBS Partners US long portfolio holdings as of Q3 2016. For a look at how the portfolio has progressed, see our previous update:
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