Bill Gates has increased his overall stake in Canadian National Railway Co. to about 12 per cent.
Cascade Investment LLC, a company owned by the billionaire founder of tech giant Microsoft Corp., says it has acquired an additional 13,670 shares of Canada's largest railway for $1.25-million.
The investment company now owns a total of 43 million CN shares representing 10 per cent of the company.
Mr. Gates controls an additional 1.98 per cent of CN stock through the Bill & Melinda Gates Foundation, a charitable trust.
According to a statement issued by the investment company, all shares held by both Cascade and the trust are for investment purposes.
It says holdings in CN may be increased or decreased depending upon future market conditions.