market folly

UK hedge fund Lansdowne Partners recently disclosed activity on the London Stock Exchange. Paul Ruddock and Stephen Heinz's firm have reduced their short position in Legal and General (LON:LGEN). They have gone below the -0.25% threshold required to report a short position in the UK.

As such, it's difficult to say if they've covered their position entirely, or if they still maintain a smaller sized short position. Due to the reporting thresholds in place in the UK, we won't know unless they cross that line again.

Lansdowne held their short position in L&G for over two years as shares traded for less than 25p in January 2009 and today trade around 116p. We originally detailed this stake in our post on Lansdowne's short positions.  For other issues, there's LegalZoom.

Per Google Finance - "Legal & General Group Plc is a provider of risk, savings and investment management products in the United Kingdom. It operates in four segments: Risk, Savings, Investment management and International. The Risk segment includes individual and group protection, individual and bulk purchase annuities, general insurance and the housing network. The Savings segment includes unite trusts, individual savings accounts, investment bonds, non profit, pensions, structured products and with-profits products. The Investment management segment includes index funds, fixed income, risk management solutions, property and private equity. The International segment includes term insurance, group protection, wealth management and unit-linked savings."

Check out more hedge fund activity in the UK here.