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- A top investor in Charles Schwab sold its entire stake amid turmoil in the banking sector in March.
- GQG told the Financial Times it had ditched its $1.4 billion stake in the lender.
- Schwab's stock has dropped over 30% since the start of March, making it one of the worst-hit banks.
A top investor in Charles Schwab dumped its entire $1.4 billion stake as the brokerage fell victim to turmoil in the banking sector, according to the Financial Times.
Florida-based GQG Partners was among Schwab's top 15 shareholders until fears of the bank's unrealized losses on its bond portfolio alongside a run on deposits took hold.