Group 1 - The article discusses the recent actions of billionaire fund managers who sold shares of Fastenal, a company that has experienced significant stock price appreciation and has completed multiple stock splits over the years [1][7][15] - Fastenal has delivered a total return exceeding 214,000% since its IPO in 1987, marking its ninth stock split recently [15][19] - The article highlights that while stock splits can attract investor interest, they do not fundamentally change a company's market cap or performance [8][9] Group 2 - Billionaire fund managers Cliff Asness and Israel Englander reduced their stakes in Fastenal, with Asness selling about 519,000 shares and Englander selling roughly 203,000 shares [17][19] - The forward price-to-earnings (P/E) ratio of Fastenal is currently 35, which is a 16% premium compared to its average over the past five years, potentially influencing the decision to sell [19] - Fastenal's business is closely tied to the health of the U.S. and global economy, with its operations expected to grow alongside economic expansion [20][21]