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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 (NASDAQ:LBTYA) and Cemex (NYSE: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 (NYSE: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 (NASDAQ: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 (NYSE: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 (NYSE: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 (NYSE: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