Richard Blum, founder and head of investment firm Blum Capital Partners, L.P., was mostly in a selling mood in November.
Blum sold class C shares in Google parent
(GOOG), as well as
(MSFT) stock, in separate transactions each valued at between $250,001 and $500,000. Blum also sold
stock (AAPL) and
stock (MMM) in two transactions each valued at between $100,001 and $250,000, on Nov. 13 and 16.
Normally, a private investor wouldn’t need to publicly report such minutiae, but Blum is married to California Democratic Sen. Dianne Feinstein. Her position requires Feinstein to disclose “any purchase, sale, or exchange” of securities valued at more than $1,000 made by her, her spouse, or dependent child within 30 days of receiving written confirmation of those trades. Hence, she disclosed those latest sales by Blum, among others he made, in a Dec. 18 filing. The specific number of shares and the actual value of transactions aren’t required to be disclosed apart from the range.
In response to a request for comment on Blum’s stock sales, the Senator’s office wrote in an email that Feinstein “has no involvement whatsoever in her husband’s financial and business decisions aside from the Senate’s routine reporting requirements.”
Blum Capital didn’t respond to a request to make Blum available for comment.
What’s interesting about Blum’s latest transactions is that these are his first recorded sales of 3M, Microsoft, and Apple stock this year. He purchased 3M stock as recently as October, according to Feinstein’s records. Blum’s most recent purchase of Microsoft stock was on April 18, and was valued at between a quarter- and a half-million dollars. His last trade in Apple stock prior to this was when he bought shares in a transaction valued at $100,001 to $250,000 on Aug. 2.
Barron’s remains bullish on Alphabet. It was one of our top picks for 2018 and remains as such for 2019. We think the owner of YouTube, Android, a cloud-computing business is “one of the best megacap growth stories.”