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Bill Gates Goes Deeper Into Autos (AN, MSFT, KMX, BRK-A)

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By Douglas A. McIntyre Updated Published
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We noted just last week that Bill Gates was getting more entrenched in the waste disposal sector.  It turns out that Mr. Gates is getting deeper into the auto-retailing sector as well.  In an SEC filing after the closing bell, Gates added some 500,000 shares to his stake of AutoNation, Inc. (NYSE: AN).  His Cascade Investment LLC investment vehicle bought 483,800 at a weighted average price of $17.608 and bought another 16,200 shares at a weighted average price of $18.217.  Both transaction dates took place on October 29, 2009.

Gates almost caught the top-tick on the buys and the 9.77 million shares traded on that Thursday was the most active trading day seen in at least three months due to it also being the post-earnings report day.  Gates is of course still the largest holder of Microsoft Corporation (NASDAQ: MSFT) even if Steve Ballmer is running the show now.

Oddly enough, this comes on the heels of another quarter of declines from Warren Buffett lowering his stake in Carmax Inc. (NYSE: KMX) by Berkshire Hathaway Inc. (NYSE: BRK-A) to right at 9 million shares after three straight quarters of declines.

If you add this new count of 11,865,688 shares with what was the June 30 holdings of 10,292,100 shares held by the Bill & Melinda Gates Foundation, this now effectively gives Mr. Gates more than 12% of the outstanding shares of AutoNation.

Jon C. Ogg

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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