Subject: Re: Back of the envelope
OXY: 255,281,52 shares @ $51.54/share = $12.157B, minus deferred tax on unrealized capital
Estimated cost basis, per whalewisdom.com, = $50.3968/share
At 21% tax rate, deferred tax = $0.332B
Total value of OXY shares after deferred taxes = $11.825B.
OXY warrants and preferred stock of $10B are included in "investments in equity securities."

Total value of KHC plus OXY holdings, not including warrants and preferred stock, = $24.66B, or $11.44/B-share



I neglected to deduct something for capital gains for these positions (OXY and KHC), but since there are next to no capital gains, I still get about the same $11 per share. But I will update my table in the hope that the deduction will someday be important ): And I will do it with 21% but also with 15%...