Bill Gates sells US$940M of CN Rail stock, trimming stake to 9%
BNN Bloomberg
Bill Gates sold about US$940 million of Canadian National Railway Co. shares, trimming one of the largest holdings of the investment firm that controls his US$117 billion personal fortune.
Cascade Investment unloaded roughly 12 per cent of its shares in the Montreal-based company from April 27 to May 12, leaving it with a stake of about 9 per cent or US$6.8 billion, according to a Securities and Exchange Commission filing.
Cascade has been reducing its ownership of the Canadian railway since at least May 2021, when it still owned roughly 13 per cent of the company. One of Cascade’s investment managers, Justin Howell, has served on Canadian National’s board since last year.
Canadian National shares have slid 7.3 per cent this year after rising steadily from pandemic-era lows in March 2020.
