Cascade Investment, the personal investment company of Microsoft founder Bill Gates, has been selling some of its stake in Fisher Communications. As a result, we won’t be getting any more reports about his Fisher holdings.
Cascade had already given up representation on the Fisher board last April, when it still owned about 5.2% of the Seattle-based TV and radio group. Since then, Gates has been reducing his stake.
Most recently, Cascade sold 26,000 shares on Monday and Tuesday of this week at prices ranging from $15.43 to $16.66 per share. With those sales, the Gates investment fund has reduced its stake to 429,700 Fisher shares. That’s 4.8%, which is below the 5% reporting threshold, so Gates will no longer have to file SEC reports about his Fisher holdings – unless, of course, he should decide to buy shares and move back above 5%.