UBS AM Increases Morgan Stanley Stake
UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reported active portfolio adjustments across several large holdings in the second quarter, including Corning, Philip Morris International, The PNC Financial Services Group, American Tower, and Morgan Stanley. In Corning, the firm reduced its stake by 3.8% to about 5.32 million shares, valued at roughly $1.36 billion. It increased its position in Philip Morris International by 25.3% to nearly 7 million shares, valued at about $1.26 billion. In The PNC Financial Services Group, UBS AM Americas boosted its holdings by 1.1% to about 3.61 million shares, worth around $888 million. The firm lifted its American Tower holdings by 4.3% to 4.53 million shares, valued at about $740 million, and grew its Morgan Stanley stake by 1.7% to 11.21 million shares, worth approximately $2.34 billion.


