NEW YORK (AP) — The Bill and Melinda Gates Foundation Trust plans to sell nearly half its stake in Warren Buffett’s Berkshire Hathaway Inc. in order to comply with federal tax rules, according to a filing with the Securities and Exchange Commission on Thursday.According to the filing, the trust has adopted a trading plan to sell 550,000 Class B Berkshire (BRK.B) shares over a three-year period beginning on April 1. The trust currently owns 975,000 Class B shares, or a 6.9% Berkshire stake.The plan was adopted so that the trust may comply with federal tax rules that limit excess business holdings by private foundations, the filing said.Buffett has said he plans to give all of his Berkshire stock to charities over time. Most of the 77-year-old Buffett’s fortune will go to five charitable foundations, with the biggest chunk going to the Gates Foundation, run by Microsoft Corp (MSFT, Fortune 500). Chairman Bill Gates.Berkshire owns more than 60 companies, including insurance, clothing, furniture, jewelry and candy companies, restaurants, natural gas and corporate jet firms and has major investments in such companies as Coca-Cola Co (COKE)., Anheuser-Busch Cos (BUD, Fortune 500). and Wells Fargo %26amp; Co (WFC, Fortune 500).Class B shares of Berkshire closed at $4,347.88, up $82.63 on the day.
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Investment Guide March 21st, 2008
