Goldman Sachs Stake Reduced by Canadian Investment Firm

Connor Clark & Lunn Investment Management Ltd., a Canadian investment management firm, has reduced its stake in Goldman Sachs Group Inc. by 33.1% in the second quarter.

The company sold 33,070 shares of GS during this period, which is approximately $67 million worth at current prices.

This reduction in holdings comes as other investors have increased their stakes in the investment management firm. BOK Financial Private Wealth Inc., for example, grew its holdings by 188.9% in the second quarter, while Turim 21 Investimentos Ltda. bought a new position valued at about $25,000.

The Goldman Sachs Group has seen positive sentiment due to its involvement with potential future IPOs and stronger-than-reported Chinese gold demand. However, the company's executive Chris Churchman warned of 'cognitive atrophy' among junior bankers due to excessive reliance on AI.