The Bill & Melinda Gates Foundation Trust made large initial stock purchases in the first quarter, a period marked with coronavirus-induced volatility.
The trust, which administers the assets of the eponymous foundation, bought large amounts of
com (AMZN), and
stock (TWTR) in the quarter. The Gates’ trust disclosed the trades in a form it filed with the Securities and Exchange Commission.
The Gates Foundation Trust didn’t provide a comment regarding the stock trades.
The trust bought 60,460 Amazon shares in the first quarter. It hadn’t owned any at the end of 2019.
Amazon stock has been on fire as of late, rising 25.0% so far in the second quarter through Friday’s close. In comparison, the
S&P 500 index,
a broad measure of the market, has only gained 14.3% so far in the quarter.
Amazon has benefited as the coronavirus pandemic devastates much of the retail sector, but the company faces increasing competition on a number of fronts.
(FB) is launching e-commerce platforms, and Apple is reportedly beefing up its streaming operations.
Speaking of Apple, the trust initiated a stake in the iPhone maker by buying 501,044 shares in the first quarter.
Apple stock, like that of Amazon, has rallied so far in the second quarter, by 25.4%.
Twitter stock has been having a boffo second quarter so far, rising 32.8%.
The platform’s daily users have soared during the coronavirus pandemic. Twitter also recently tested settings to restrict replies to tweets. One of Twitter’s most prominent users continues to move markets with tweets.
Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.