New York -- Eddie Lambert’s ESL Partners has reduced the size of its stake in Sears Holdings Corp. disclosing in a regulatory filing on that it now owns 48.4% of its shares, down from 55.4%.
In a statement, Lampert said that his fund had distributed 7.4 million shares in Sears to investors who wanted to withdraw money from his firm. He said that he had not sold any of his personal holdings.
“My significant personal ownership in the company is a sign of my confidence and alignment with all shareholders,” Lampert said.
As of Tuesday's closing price of $55.55, Lampert's stake is worth about $2.87 billion.