Bloomberg News

Lansdowne Buys Verizon, Tesla Stakes, Exits Colgate-Palmolive

May 14, 2014

Lansdowne Partners LP, a European hedge-fund firm that focuses on stock picking, added new positions in Verizon Communications Inc. (VZ:US) and Tesla Motors Inc. (TSLA:US) in the first quarter and boosted its stake in JPMorgan Chase & Co.

The London-based firm purchased 13.5 million shares of Verizon valued at $641 million as of March 31, according to a filing today with the U.S. Securities and Exchange Commission. It also bought 1.2 million shares of Illumina Inc. (ILMN:US) and added 3.7 million shares of Walt Disney Co. and 351,888 shares of JPMorgan.

Lansdowne, founded in 1998 by Paul Ruddock and Steven Heinz, exited stakes in Colgate-Palmolive Co., Accenture Plc, Capital One Financial Corp. (COF:US) and American International Group Inc., according to the filing.

To contact the reporter on this story: Margaret Collins in New York at mcollins45@bloomberg.net

To contact the editors responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net Pierre Paulden


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Companies Mentioned

  • VZ
    (Verizon Communications Inc)
    • $50.63 USD
    • 0.59
    • 1.17%
  • TSLA
    (Tesla Motors Inc)
    • $243.66 USD
    • -4.78
    • -1.96%
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