Gates Foundation Raises Stake in Tenet

Microsoft Corp. Chairman Bill Gates’ $26-billion charitable foundation raised its holdings in Tenet Healthcare Corp. and Abbott Laboratories during the second quarter.

The Bill & Melinda Gates Foundation purchased 1.65 million shares of Tenet, valued at $23.9 million based on Thursday’s closing price. Gates’ total stake in Tenet, a Santa Barbara hospital operator, is 3.65 million shares.

The foundation acquired 1.13 million shares in Abbott, boosting its stake in the drug maker to 1.88 million shares.