Life

Billionaires Unloaded These 24 Stocks In Q2

Like & Follow Us On Facebook!

2. Berkshire Hathaway (BRK.B, $214.66)

US News Money

Bill and Melinda Gates Foundation Trust have divested 5 million shares, or 11% of their holdings in Berkshire Hathaway at the tidy sum of $1 billion. The curious thing about it was that it was the only sale or purchase by the foundation in the entire fiscal period. Despite the fact that the foundation sold 5 million shares, it still remains its largest position by far, representing just under 40% of the $17.9 billion that the foundation reported in its most recent 13F. The Gates Foundation first got into BRK.B in the third quarter of 2006, and has paid an estimated average price of $135.25 for the Class B shares in the past fourteen years. Thanks to the 39.9 million shares held at the end of the second quarter of this year, the foundation finds itself sitting on a dragon’s keep of approximately $3.2 billion in unrealized gains The foundation’s largest investments following that are Waste Management at 11.1% and the Canadian National Railway at 8.5%, both of which also have unrealized gains.
Bill and Melinda were not alone in divesting from BRK.B, as Pershing Square sold 100% of its $1 billion investment to free up cash in case the markets corrected. This was merely a quarter after Ackman increased his stake in the real estate company by 1.4 million shares.

You may also like