Baillie Gifford has more than halved its stake in Hargreaves Lansdown (HL) since a private equity approach for the investment platform became public. That has come during a period of heightened trading in the stock with the outcome of a £5.4bn takeover still uncertain.
Jupiter and UBS are also among those who have locked in gains after Hargreaves’ shares rallied following the news. Meanwhile, Burgundy Asset Management and Columbia Threadneedle have added to their positions, according to Refinitiv data.
Buckinghamshire-based Metropolis Capital reported a stake of about 3.3% after the initial announcement, near to double its previously disclosed position, according to Refinitiv.