Lansdowne Partners Dumps Its Entire $850 Million Stake In Goldman

lloyd BlankfeinGoldman Sachs CEO Lloyd Blankfein

Goldman Sachs just lost one of its top 20 investors — Lansdowne Partners just dumped its entire $850 million stake in Goldman Sachs.(UPDATE: Lansdowne sold GS in the first quarter while buying shares in Morgan Stanley.)

The Telegraph cites four reasons why the $10 billion long/short equity hedge fund run by Stuart Roden and Peter Davies sold the huge stake:

  • Dodd Frank legislation that caused Goldman to get rid of its proprietary trading business
  • Capital requirements 
  • “The bank saw its shares hit a two-year low of $125.50, having fallen 19.2% this year”
  • “Profits in the second quarter of the year fell to $1.09 billion, from $2.7 billion in the first three months of the year, as its behemoth Fixed Income, Currency and Commodity division saw revenues tumble by 64pc from the first quarter”

Ouch, this comes after Goldman’s disappointing earnings report. Lansdowne isn’t doing too well either. The Telegraph says it’s down 13% for the year.See also: The best jokes about Goldman Sachs


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