Deere & Company (DE): Bill Gates’ Investment Manager Appointed to Company’s Board

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Cascade Investment Llc recently has filed an amended 13D filing with the US SEC on Deere & Company (NYSE:DE), in which it revealed that Alan C. Heuberger was elected to the company’s board of directors. The new director, Mr. Heuberger, is a senior investment manager responsible for all non-Microsoft investments for William H. Gates III, and Bill & Melinda Gates Foundation Trust, which include Deere & Company. Mr.Heuberger has no voting or investment influence over the shares owned by Cascade and Mr. Gates. Currently, Cascade Investment Llc holds 31.42 million shares of Deere & Company (NYSE:DE), which account for 9.9% of the company’s outstanding common stock.

Deere & Company is engaged in the business of manufacturing various machines necessary in the agricultural, construction and forestry industries. Since the beginning of the year, the company’s shares went up by 35.89%. Recently, BMO Capital Markets reiterated its ‘Outperform’ rating on Deere & Company’s stock, with a price target of $120, while Aegis initiated coverage with a ‘Hold’ rating and a price target of $110. For the fourth quarter of fiscal 2016, the company reported EPS of $0.9, above the estimates of $0.4, and revenue of $6.52 billion, also topping the estimates of $5.38 billion.

corn, harvester, harvesting, field, ripe, monoculture, dust, agriculture, autumn, machinery, yellow, trailer, crop, combine, farm, sun, landscaped, vehicle, equipment, rural, cultivated


According to Insider Monkey’s hedge fund database, 27 investors were bullish on Deere & Company (NYSE:DE) at the end of September, down by six from the previous quarter. Among the funds with the biggest positions were Warren Buffett’s Berkshire Hathaway, which held $1.8 billion worth of Deere & Company’s shares, David Blood and Al Gore’s Generation Investment Management, with a $583.6 million position. Some other investors with similar enthusiasm include Bob Peck and Andy Raab’s FPR Partners, Jim Simons’ Renaissance Technologies, and Gabriel Plotkin’s Melvin Capital Management.

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On the other hand, among investors that decided to close their stakes in Deere & Company (NYSE:DE) was First Eagle Investment Management, which said goodbye to a position valued at close to $425.7 million in stock, and  Stanley Druckenmiller’s Duquesne Capital, which also dumped its stake, about $29.2 million worth.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Cascade Investment 31,423,573 0 31,423,573 0 31,423,573 9.9%
William H. Gates III 31,423,573 0 31,423,573 0 31,423,573 9.9%

Page 1 of 5 – SEC Filing






Under the Securities Exchange Act of 1934
(Amendment No. 4)*



(Name of Issuer)


Common Stock, $1.00 par value

(Title of Class of Securities)



(CUSIP Number)


Steven Snyder, Esq.

2365 Carillon Point

Kirkland, WA  98033


(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)


December 20, 2016

(Date of Event Which Requires Filing of this Statement)



If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ¨


Note:     Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.


*The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.


The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).


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