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An investment vehicle owned by Bill Gates reported a 5.2% stake in Eastman Kodak (NYSE: EK) this morning. The investment was disclosed in a form 13-G filed with the SEC, which indicates that the investment is passive in nature: Cascade Investment LLC does not have plans to become involved with the company's operations, or press for governance changes.Bloomberg reports that the Kodak stake is Cascade's ninth-largest investment.
What can we make of it? Kodak has struggled in recent years, but still possesses a strong brand -- one characteristic that Gates' friend, bridge partner and investment idol Warren Buffett is always on the prowl for. Berkshire Hathaway (NYSE: BRK.A), however, does not own a stake in Kodak, although there have been past rumors that Buffett was considering buying one.
Shares of Eastman Kodak are trading at less than $4 per share -- a sharp fall from the $20 they were going for a year ago.
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