Gates Increases Deere Stake

Posted on December 18, 2012

He may be best known for computer-based high technology, but when it comes to investing, Microsoft co-founder Bill Gates apparently sees a lot to like in one of the most iconic and traditional of equipment manufacturers.

Gates recently increased his holdings in Deere & Co. to 7% from 5.8%, according to a recent filing with the U.S. Securities and Exchange Commission reported by the Chicago Tribune. Since August of 2011, Gates has increased his stake on the company by three million shares for a total of 27.5 million shares.

He paid about $238.8 million for the additional shares, including commissions. All the shares were purchased through Cascade Investment LLC, Gate's investment company. A third of the shares were purchased between Dec. 7 and Dec. 10.