Paul Ruddock and Stephen Heinz's hedge fund Lansdowne Partners recently filed a disclosure in UK markets regarding portfolio activity. Due to trading on February 1st, Lansdowne now hold 10.05% of Gartmore's (LON: GRT) voting rights or equivalents via a combination of shares and contract for difference (CFDs ~ we've penned a primer on CFDs here).
Back in November 2010, we highlighted that the hedge fund had built up a 6% holding just days after one of Gartmore's star fund managers, Roger Guy, had resigned. Lansdowne has added to their position in sizable fashion in recent months. For other activity from this prominent hedge fund, we posted about how Lansdowne reduced a short position.
Per Google finance "Gartmore Group Limited is a United Kingdom-based company engaged in the provision of fund management services. The Company is a traditional equity and alternative asset management firm, whose mutual funds, alternative funds and segregated mandates are distributed to clients in the United Kingdom, Continental Europe, North America, Japan and South America."
Stay tuned as we'll be posting up the latest letter from Lansdowne later this week on MarketFolly.com.