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In the past, we've highlighted hedge fund Lansdowne Partners' short positions. This time around, we get word that they've actually covered one of these stakes. Due to trading activity on the 5th of July, 2010, Lansdowne has reduced their short in Old Mutual plc (LON: OML, OTCPK:ODMTY) to below the regulatory disclosure threshold of -0.25% of shares. Back in November 2009, Lansdowne's short in OML accounted for -0.49% of shares. Then, on July 1st, 2010 Lansdowne reduced it to -0.31% and now it has crossed below the -0.25% threshold.

It is entirely possible that Steven Heinz and Paul Ruddock's hedge fund still maintain a short position. The problem is, we won't know now as it's fallen below disclosure levels. Based on the pattern of their reduction though, it seems clear that they've been aggressive in ratcheting down this stake.

While hedge fund Lansdowne have covered the vast majority (if not all) of this short, they are still short the following companies according to the latest UK disclosures: Legal and General (OTCPK:LGGNY), Prudential plc (NYSE:PUK), and Aviva (NYSE:AV). You can read up more on Lansdowne's short positions in our recent post.

Taken from Google Finance:

Old Mutual plc "operates a financial services business and is engaged in the provision of long-term savings solutions, asset management, short-term insurance and banking solutions to customers worldwide. It also offers financial services in Africa through operations in Namibia, Zimbabwe, Malawi, Kenya and Swaziland. Its banking business in Africa is conducted by Nedbank Group, in which it has a 59 % controlling interest. The Company operates thorough a number of subsidiaries, including wholly owned Mutual & Federal Insurance Company Limited, the South African general insurance company, Skandia Life Assurance Company Ltd, which offers life assurance solutions, Skandiabanken AB, engaged in the banking sector, as well as Barrow, Hanley, Mewhinney & Strauss, Inc, an asset management company. Old Mutual plc operates in 34 countries worldwide. "

You can view our coverage of Lansdowne's new longs here as well as our posts on other hedge fund UK positions.

Source: Lansdowne Partners Covers Old Mutual Short Position