With InBev's takeout offer for Anheuser Busch now on the table, and with the stock having moved up from the low 50's to the mid-60's over the last few months, the upside in Anheuser has seemed to play out.  Thus, it seems reasonable to take profits at this point.  

Even though I think the InBev deal is a good one, with reports that Anheuser management is potentially speaking with another firm (Groupo Modelo) about a merger of equals, clearly the InBev offer is not a done deal.  Thus, its a good time to take advantage of the presently higher share price, especially if management does something more in their interests than outside shareholders.

Here are the details of the trade:

Sold 172 shares for $61.3201 on 6/16/2008, for a year-to-date return of 16.65% on Anheuser for the portfolio.

With this trade, the Ultimate Stock-Picker's Portfolio's largest position is now in cash.  That said, as you saw on my most recent watch list, there are a lot of opportunities in today's market to recycle this cash into a higher expected return opportunity.  Stay tuned for more on this front in the coming days...