April 20, 2001
Contributed by CEO Message
Indeed, Kamehameha Activities Association (a wholly-owned KS subsidiary) is considering selling approximately 4 million shares of the company as part of Kamehameha's on-going strategy of diversifying its overall investment portfolio. KAA currently owns about 9.5 million shares of Goldman Sachs, which, given the value of the stock, is considered by our Endowment managers to be an over-concentration of KS resources in a single investment. If the sale is made, proceeds would be used to fund other investment categories that would further broaden Kamehameha's investment base. We expect to make a recommendation to the Trustees for their final decision on this sale within the next week or so.
Kamehameha Schools’ policy is to give preference to applicants of Hawaiian ancestry to the extent permitted by law.
