Look at who owns Blackrock. Vanguard owns Blackrock. Who owns Vanguard? Morgan Stanley owns Vanguard.

Who has largest shares of Morgan Stanley?

https://fintel.io/so/us/ms#:~:text=Largest%20shareholders%20include%20Mitsubishi%20Ufj,Investor%20Shares%2C%20Capital%20International%20Investors%2C

They all own themselves. The top owner is:

https://finance.yahoo.com/quote/MUFG/holders/

Who is that top holder: Aristotle Capital Management, LLC

Goldman Sachs on that list as well.

Look at who owns Blackrock. Vanguard owns Blackrock. Who owns Vanguard? Morgan Stanley owns Vanguard.

Who has largest shares of Morgan Stanley?

https://fintel.io/so/us/ms#:~:text=Largest%20shareholders%20include%20Mitsubishi%20Ufj,Investor%20Shares%2C%20Capital%20International%20Investors%2C

They all own themselves. The top owner is:

https://finance.yahoo.com/quote/MUFG/holders/

Who is that top holder: Aristotle Capital Management, LLC

That's the target.