Highfields Capital Management sold off part of a small slice of its stake in Janus Capital this week. The move is being interpreted as a sign that the turnaround-focused hedge fund believes that Denver-based fund firm will not be sold.

The Boston-based hedge fund has been pushing Janus' management since the firm's began trading after a carve out a half decade ago. The two sales of Janus shares were reported in a SEC filing.

The two sales of 100,000 shares at $19.985 and 400,000 shares at $19.687 were made starting on November 29 according to the filing. Those sales took place at the same time Fortune broke the news that Janus executives had given up on pursuing a management led leveraged-buyout after sale rumors drove up the price of Janus shares.

Even with the sales of 500,000 shares, Highfields continues to hold more than 10 percent of all Janus shares. In fact, the sales disposed of just 2.7 percent of the firm’s total stake that includes 21.5 million shares worth more than $400 million.

Highfields is known for purchasing significant stakes in struggling companies and then using those stakes to pressure for management changes.  

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