ESL ups stake in Citigroup

An affiliate of Edward Lampert's ESL Investments Inc. hedge fund owns 15.24 million shares of Citigroup Inc. as of March 31, according to a filing with the Securities and Exchange Commission. The SEC filing by RBS Partners LP, which manages ESL Investment Inc., showed that the holdings in Citigroup were valued at $782.6 million on that day, when Citigroup shares closed at $51.34. According to the filing by RBS Partners LP, the fund began accumulating Citigroup shares last year, and owned nearly 10.87 million shares by Sept. 30. The fund then raised its stake to about 15.24 million Citigroup shares at the end of the first quarter. Other big stakes in the fund include Memphis-based AutoZone Inc., Ft. Lauderdale, Fla.-based AutoNation Inc., Hoffman Estates, Ill.-based Sears Holding Corp. and Motorola Inc. of Schaumburg, Ill. Shares in the New York-based financial services company were up $1.98 to $54.78 in early afternoon trading. ESL Investments Inc. is based in Greenwich, Conn.