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.
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