Shareholder Increases Stake in S & L

The third-largest shareholder in Valley Federal Savings & Loan increased his stake in the Van Nuys-based thrift from 4.8% to 8.1% during the first week of January, according to documents filed with the Securities and Exchange Commission.

A spokesman for Valley Federal said he didn’t know why Albert Abramson increased his holdings, and Abramson, who has a construction business in Bethesda, Md., could not be reached for comment. The Valley Federal spokesman said Abramson’s stake has fluctuated during the past few months.

The S & L’s spokesman said the thrift’s largest stake, 9.9%, is held by Pilara Associates and Andrew Pilara of San Francisco. The second-largest shareholder is Oppenheimer Holdings of New York, with 9.6%.