Gates Foundation Trust Discloses 1 Million Share Stake in Home Depot
The Gates Foundation Trust has revealed that it holds 1 million shares of The Home Depot (NYSE: HD), valued at $352.68 million as of June 30.
This disclosure comes after a filing with the SEC, which shows that the trust's holdings in Home Depot increased from zero to 1 million shares between March and June.
The Gates Foundation Trust is managed by Cascade Asset Management, and while Bill Gates serves as trustee, it is not clear whether he personally purchased the shares or if this is a strategic investment for the foundation.
Home Depot's stock price has been declining in recent months, down 4.84% from its quarter-end reference price stated in the filing to $335.61 per share on Friday.