Bill & Melinda Gates Foundation Trust Purchased 1.5 Million Shares of Expedia
The Bill and Melinda Gates Foundation Trust, which was set up by Bill Gates and his wife Melinda to help deal with some of the world's most pressing issues (disease, poverty, etc), purchased one new position last quarter.
The Trust, which seeks to stretch its dollars by investing in the stock market, is managed by Michael Larson and currently has about $12.66 billion invested in the markets.
Last quarter (Q1/2010) was an uncharacteristically busy one for the Trust, as there were a total of 8 outright sales, a dozen additions to outstanding positions and one position that was trimmed down (Eastman Kodak). Companies such as Home Depot and Progressive Corp. were kicked to the curb by Gates and company (he gives high level input as to the direction of the Trust), while one new position was opened.
The new position?
The Bill & Melinda Gates Foundation Trust decided to purchase 1.5 million shares of Expedia, Inc. during the first quarter. At the end of the quarter, this position had a total value of $37.4 million.
Expedia is currently trading at $21.78. The stock has a 52 week low of $13.52 and a 52 week high of $32.20.
Source: Davemanuel.com EXPE Quote
Filed under: General Market News