ESL ups stake in Citigroup

An affiliate of Edward Lampert's ESL Investments Inc. hedge fund now owns 15.24 million shares of Citigroup Inc.
MAY 16, 2007
By  Bloomberg
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.

Latest News

SEC Says Game Service Roblox Part of ‘Active Investigation’
SEC Says Game Service Roblox Part of ‘Active Investigation’

Short sellers previously said the company was under investigation, though Roblox denied allegations.

Musk’s DOGE descends on CFPB with intention to shut it down
Musk’s DOGE descends on CFPB with intention to shut it down

The Consumer Financial Protection Bureau is in the crosshairs of the Republican group that is widely attempting to dismantle government agencies.

Advisor fighting Finra banishment loses $17.7 million dispute with old firm
Advisor fighting Finra banishment loses $17.7 million dispute with old firm

National Securities Corp. sued the advisor in 2020, alleging breach of contract and unjust enrichment.

Job numbers, inflation leaving room for Fed to hold rates
Job numbers, inflation leaving room for Fed to hold rates

Recent data support a measured pace by the Federal Reserve for the year ahead.

Private assets remain hot despite surging stock market
Private assets remain hot despite surging stock market

Financial advisors are still adding alternatives despite the surge in publicly traded stock prices

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.

SPONSORED Why wealth advisors should care about the future of federal tax policy

Blue Vault features expert strategies to harness for maximum client advantage.