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Michael Larson is the personal money manager of the Bill and Melinda Gates Foundation Trust. The trust has stock holdings in an amount of $15.2 billion under management. Within the second quarter of the year, Larson and Gates have increased one stock position and initiated 5 new positions. Liberty Global (LBTYA) and Cemex (CX) are the buys with the biggest change to the portfolio. He sold out one company and reduced one stock position of which Berkshire Hathaway (BRK.B) was the position with the largest influence for the portfolio. Here are the biggest portfolio weighted buys and sells:

Buys:

Liberty Global (LBTYA) was new initiated. Total change to portfolio: 0.63 percent.

Cemex (CX) was new initiated. Total change to portfolio: 0.33 percent.

Liberty Global C (LBTYK) was new initiated. Total change to portfolio: 0.20 percent.

Sells:

Berkshire Hathaway (BRK.B) was reduced by 4.38 percent. Total change to portfolio: 1.91 percent.

M&T Bank (MBT) totally sold out. Total change to portfolio: 0.28 percent.

Michael Larson's biggest sector allocation is focused on Financials (41.81 percent), Industrials (14.93 percent) and Consumer Staples (11.90 percent).

Here are the biggest portfolio holdings as of Q2/2011 with fundamental details:

1. Berkshire Hathaway (BRK.B) is acting within the property and casualty insurance industry. The company has a market capitalization of $181.1 billion, generates revenues in an amount of $144.3 billion and a net income of $12.3 billion. It follows P/E ratio is 14.7 and forward price to earnings ratio 15.8, Price/Sales is 1.3 and Price/Book ratio 1.1. Dividend Yield: 0 percent. Years of Consecutive Dividend Increasing: 0 Years. 5-Year Dividend Growth: 0 percent. The company never paid dividends. Portfolio weighting: 41.80 percent.

2. Caterpillar (CAT) is acting within the farm and construction machinery industry. The company has a market capitalization of $58.8 billion, generates revenues in an amount of $51.1 billion and a net income of $4.0 billion. It follows P/E ratio is 15.0 and forward price to earnings ratio 9.9, Price/Sales 1.2 and Price/Book ratio 4.4. Dividend Yield: 2.0 percent. Years of Consecutive Dividend Increasing: 17 Years. 5-Year Dividend Growth: 11.4 percent. The company paid dividends since 1914. Portfolio weighting: 6.74 percent.

3. McDonald’s (MCD) is acting within the restaurants industry. The company has a market capitalization of $93.3 billion, generates revenues in an amount of $25.5 billion and a net income of $5.3 billion. It follows P/E ratio is 18.3 and forward price to earnings ratio 15.7, Price/Sales ratio is 3.7 and Price/Book ratio 6.2. Dividend Yield: 2.7 percent. Years of Consecutive Dividend Increasing: 34 Years. 5-Year Dividend Growth: 41.8 percent. The company paid dividends since 1976. Portfolio weighting: 5.49 percent.

Take a closer look at Michael Larson's full portfolio. He has 32 stocks with a total worth of USD 15,154,220,000.

Source: The Q2 Holdings Of The Bill And Melinda Gates Foundation Trust