No. of Recommendations: 3
1 Berkshire Hathaway, Inc. Class A $561,185,200 30.23%
2 JPMorgan Chase & Co. $160,450,240 8.64%
3 State Street Institutional U.S. Government Money Market Fund $141,026,650 7.60%
4 Berkshire Hathaway, Inc. Class B $124,200,000 6.69%
5 Yum! Brands, Inc. $107,721,900 5.80%
6 Enterprise Products Partners LP $97,747,000 5.27%
7 Microsoft Corp. $75,782,000 4.08%
8 NRG Energy, Inc. $72,956,000 3.93%
9 Stanley Black & Decker, Inc. $61,812,000 3.33%
10 Cisco Systems, Inc. $59,991,200 3.23%
11 Cohen & Steers Infrastructure $58,987,500 3.18%
12 Intel Corp. $53,640,000 2.89%
13 Charles Schwab Corp. $45,990,000 2.48%
14 Evercore, Inc. $44,265,000 2.38%""
The top ten holdings are now 91 percent, as of NOV 30th. 37 percent brk, 7.6 percent cash. If, IF, the controlling family wanted to sell the entire fund to Buffett at say a 5-8 percent discount, Buffett could do it from the petty cash account, 1.8 billion to 2 billion or so. Clearly Buffett would love the portfolio and the control poppa is friends with Buffett. Meanwhile the 4 percent
distribution in my IRA covers my RMD, required minimum distributions, for our foreign friends. TO REPEAT, don't look at historical return comparisons, the fund had a 2.5 % expense ratio for over a decade, those days are gone. Disclosure, I have no contact with anyone at STEW or any of the control family members. Just sharing the best case scenario. Happy healthy New Year to all.
No. of Recommendations: 1
Would it be legal for the board of a mutual fund (closed end or not) to agree to sell a fund at a discount?
If an end to public operation were approved, it seems that a liquidation or distribution of all assets would be much better for the owners, so it's hard for management to justify any challenge.
Maybe a tender offer to buy some shares would be the most that a buyer could accomplish?
Jim
No. of Recommendations: 0
hi, control shareholder Horejsi and family, control about 48 %. Some Old timers who became billionaires by investing in brk decades ago, love to sell back to Buffett. Selling all the positions , paying the cap gains tax on the positions to liquidate might be less efficient, I'm not certain, but either way works. IF I was super rich and I thought a wealth tax might be coming, I would liquidate and get my estate plans prepared. IF Trump wins, I doubt he is a fan of taxing wealth. $$
