Lansdowne Trims Glencore Short to $450 Million After Rally
- Short position reduced to 0.89% from 1.2%, filings show
- Lansdowne is the last major short seller of Glencore shares
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Lansdowne Partners, one of Europe’s largest hedge fund firms, is trimming its bet against Glencore Plc after shares of the Swiss commodities trader tripled this year.
The fund, which still holds the biggest short bet on Glencore, bought back shares over two days last week, reducing its short holding to 0.89 percent from 1.2 percent, according to regulatory filings. It’s the first change to the bearish position since July. The market value of the bet is currently $452.52 million, data compiled by Bloomberg show.