Lansdowne Dumped Goldman To Buy Morgan Stanley

silicon valley goldman morgan stanley

Yesterday we wrote about the long/short equity fund Lansdowne Partners selling Goldman Sachs — its entire $850 million, 4.94 million share stake in Goldman. 

Well now Bloomberg has an interesting addition:

Lansdowne sold 4.9 million shares of New York-based Goldman Sachs between January and March, the hedge fund disclosed in a May 16 filing with the U.S. Securities and Exchange Commission. Lansdowne… purchased 3.1 million shares of Morgan Stanley during the same period, according to the filing.

So what this tells us is two things. One – that Lansdowne publicly disclosed selling its entire 4.94 million share stake in Goldman in the first quarter. Of course that doesn’t mean it’s any less significant. Lansdowne was a top 20 Goldman investor until recently.

Two – Lansdowne isn’t selling out of financials entirely. The fund is reportedly a huge shareholder in Lloyds Banking group and now apparently, Morgan Stanley.

This is especially interesting after Morgan Stanley crushed earnings while Goldman suffered.

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