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ESL Trims AutoNation Stake

Edward Lampert’s main hedge fund is more concentrated than ever after the move. But its largest holding is still embattled retailer Sears.

Edward Lampert’s ESL Investments is more concentrated than ever, having trimmed its stake in one of its largest holdings. The Bay Harbor, Florida–based hedge fund firm’s entire portfolio is concentrated in just four U.S.-based equities. One of these is AutoNation, the country’s largest auto dealership and still ESL’s largest holding even

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