Lampert's RBS hedge fund cuts stake in AutoNation

(Bloomberg) -- Edward Lampert, the billionaire chairman and CEO of Sears Holdings Corp., reported that he and his hedge fund reduced a stake in AutoNation Inc., the country's largest auto retailer.

RBS Partners LP cut its stake in AutoNation Inc. by 13.5 million shares to 34.6 million shares valued at about $1.37 billion as of Dec. 31, according to a filing today with the U.S. Securities and Exchange Commission.

The fund is based in Greenwich, Connecticut.

Lampert took over as CEO of Sears this month after Lou D'Ambrosio, who served in the position less than two years, stepped down because of a family health issue.

AutoNation shares closed unchanged at $46.89 in New York Stock Exchange trading on Thursday.