Yesterday's Wall Street Journal had an article highlighting that Eddie Lampert has recently placed bets on a housing recovery. Some of the housing-related names that Mr. Lampert's hedge fund (ESL Investments) held at the end of the first quarter included CIT Group, PHH Corp, Centex and KB Home. While these are housing-related names, none of them made up more than 1% of the portfolio at the end of the first quarter (this doesn't include HD because he's held that one for awhile). As shown below, SHLD makes up 58% of the fund, followed by Autozone (22%) and Autonation (AN). While it is indeed a bet on housing, it's not yet a very big one.