ms a substantial holder on borrowed shares!

On 01/06/2010 6:27PM, Morgan Stanley declared to be a substantial holder with 48.7m GNS shares (6.03%).

In the same announcement, it showed that it had BORROWed at least 49.2m GNS shares (30.0m on 28/8, 16.0m on 26/5, 0.4m on 14/5, 0.2m on 11/5, 0.2m on 7/5, 0.1m on 5/5, 1.3m on 4/5, 0.3m on 15/4, 0.4m on 13/4, 0.1m on 12/4, 0.2m on 25/3,... ).

So MS's net holding excluding borrowed shares is 48.7m - 49.2m = -5m ?

WOW!