Gates fund reports 12.8% PlanetOut stake

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WASHINGTON -- Bill Gates' investment fund Cascade Investment LLC reported in a regulatory filing on Friday that its holds a 12.8% stake in the common stock of online media company PlanetOut Inc.

The Microsoft Corp. chairman's fund did not reveal when it bought the shares or their price in the "passive" filing with the U.S. Securities and Exchange Commission. Cascade also did not reveal the purposes behind the transactions.

San Francisco-based PlanetOut, which went public in 2004, maintains a number of Web sites serving the lesbian, gay, bisexual and transgender community. The sites include Gay.com, PlanetOut.com, Out&About Travel, Advocate.com, Out.com, OutTraveler.com and HIVPlusMag.com

The filing with the SEC revealed that Cascade owns 5.2 million shares. It also stated that July 9 was the date of the event which required the SEC filing, which usually indicates when the fund began owning 5% or more of a company's outstanding stock.
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