BusinessValueAct exits Morgan Stanley stake, trims other financial firms in Q1-filing Svea Herbst-bayliss 3 minute read A Wall St. street sign is seen near the New York Stock Exchange (NYSE) in New York City, U.S., March 7, 2019. REUTERS/Brendan McDermid Investment firm ValueAct liquidated its stake in Morgan Stanley (MS.N) and trimmed holdings in Citigroup Inc (C.N), KKR & Co Inc (KKR.N) and SLM Corp (SLM.O) in early 2021, pointing to a shift away from some financial firms that it has owned for several years, a regulatory filing released on Monday showed. ValueAct sold 8.2 million shares of U.S. bank Morgan Stanley stock during the first quarter, exiting the remainder of an investment it first told clients about in 2016. At that time ValueAct said it owned 38 million shares worth $1.1 billion.