Eddie Lampert's ESL Holdings

Yesterday's Wall Street Journal had an article highlighting that Eddie Lampert has recently placed bets on a housing recovery.  Some of the housing-related names that Mr. Lampert's hedge fund (ESL Investments) held at the end of the first quarter included CIT Group, PHH Corp, Centex and KB Home.  While these are housing-related names, none of them made up more than 1% of the portfolio at the end of the first quarter (this doesn't include HD because he's held that one for awhile).  As shown below, SHLD makes up 58% of the fund, followed by Autozone (22%) and Autonation (AN).  While it is indeed a bet on housing, it's not yet a very big one.

Comments

[je:]

We see what sears is doing and I see no reason why he can't do the same thing with ESL - DOWN

2008 Jun 16 09:34 AM

[malach hamo...:]

Fast Eddie had one big hit - he scammed the bankruptcy court and raped the Kmart creditors.
Since then he's managed to plod along, accelerated the destruction of Sears, and otherwise accomplish nothing of merit.
All the while he's lionized for the one scam he pulled which had as much to do with running a hedge fund as with cheating at poker.

2008 Jun 17 06:50 AM

[Aaron in NJ:]

Why did they write the article almost two months after the 13-F was released? I was surprised it received so much publicity, for old information.

Cranky and User should short SHLD.

2008 Jun 17 11:57 AM

[tonyabethwi...:]

Eddie is as big of terrorist to the economy of the US and the work force of America as the suicide bombers were on 9/11. He's a greedy pig.

2008 Oct 12 03:06 PM