Bill Gates sells Microsoft shares – and buys Berkshire Hathaway
In the second quarter of 2024, the Bill & Melinda Gates Foundation Trust reduced its stake in Microsoft, increased its share in Berkshire Hathaway, and dumped Carvana from its portfolio.
This was revealed in Berkshire’s 13F filing with the US Securities and Exchange Commission, which is required for all investors who manage over $100 million (R1.78 billion) in funds.
Microsoft co-founder Bill Gates and his then-wife, Melinda Gates, launched the Bill & Melinda Gates Foundation in 2000.
In 2006, the foundation’s trustees implemented a two-entity structure to distinguish between the programmatic work and the management of the foundation’s assets.
This structure consists of the Bill & Melinda Gates Foundation, which is responsible for distributing funds to grantees, and the Bill & Melinda Gates Foundation Trust, which oversees the endowment and finances the foundation’s initiatives.
In Q2 of 2024, the Foundation continued to make significant adjustments to its portfolio, which was valued at approximately $47.67 billion (R849.59 billion) as of 30 June 2024.
The trust reduced its holdings to 23 stocks, down from 24 in the previous quarter.
One of the most notable changes was the reduction of its stake in Microsoft, which decreased by 4.41%.
Despite this reduction, Microsoft remains the foundation’s largest holding, making up 32.71% of the portfolio, with a reported value of $15.59 billion (R277.73 billion).
This represents a slight decrease from the previous quarter, reflecting the foundation’s ongoing portfolio adjustment strategy.
The trust also made a significant move by increasing its position in Berkshire Hathaway, billionaire Warren Buffett’s holding company.
The foundation added 42.29% to its stake, making Berkshire Hathaway its second-largest holding, accounting for 21.01% of the portfolio.
This increase marks a strategic shift, as Berkshire Hathaway had previously been reduced to second place in the portfolio at the end of 2022 but has now been bolstered by additional investments.
The foundation holds investments in major companies, including Walmart, Coca-Cola, and FedEx.
The foundation also owns shares in JSE-listed brewer, AB InBev, which owns popular local beer brands like Black Label, Castle, and Windhoek.
The foundation owns 1,703,000 shares in the company, valued at $99,029,000 (R1.76 billion). Ab InBev comprises only 0.21% of the foundation’s portfolio.
The foundation also sold its share in Carvana, an online used car retailer based in Tempe, Arizona.
The foundation’s investments reflect a diverse approach, with significant stakes in industries ranging from technology and industrials to consumer goods and transportation.
Despite reducing its holdings in some major stocks, the foundation’s strategy appears to focus on consolidating its investments in a select number of high-performing companies while also diversifying with smaller, potentially high-growth opportunities.
This continued reshaping of the portfolio underscores the foundation’s commitment to aligning its investments with its broader goals and adapting to market conditions.
Bill & Melinda Gates Foundation’s portfolio
The table below shows the Bill & Melinda Gates Foundation’s share portfolio on 30 June 2024.
| Stock | % of portfolio | Change | Value |
| Microsoft Corp. | 32.71 | Reduce 4.41% | $15,593,905,000 |
| Berkshire Hathaway CL B | 21.01 | Add 42.29% | $10,015,498,000 |
| Waste Management Inc. | 15.77 | No change | $7,516,895,000 |
| Canadian Natl Railway Co. | 13.59 | No change | $6,476,688,000 |
| Caterpillar Inc. | 5.14 | No change | $2,449,489,000 |
| Deere & Co. | 2.79 | No change | $1,329,143,000 |
| Ecolab Inc. | 2.61 | No change | $1,241,894,000 |
| Walmart Inc. | 1.29 | No change | $615,516,000 |
| Coca-Cola FEMSA S A CV | 1.12 | No change | $533,471,000 |
| FedEx Corp. | 0.97 | No change | $460,063,000 |
| Waste Connections | 0.79 | No change | $376,879,000 |
| Coupang Inc. | 0.41 | No change | $193,747,000 |
| Crown Castle International Corp. | 0.29 | No change | $138,741,000 |
| SCHRODINGER Inc. | 0.28 | No change | $135,025,000 |
| Madison Square Garden Sports Corp. | 0.23 | No change | $111,449,000 |
| United Parcel Service | 0.22 | No change | $103,334,000 |
| Anheuser-Busch InBev | 0.21 | No change | $99,029,000 |
| Danaher Corp. | 0.20 | No change | $93,194,000 |
| Kraft Heinz Co. | 0.18 | No change | $84,500,000 |
| Hormel Foods Corp. | 0.14 | No change | $66,934,000 |
| On Holding AG | 0.04 | No change | $19,400,000 |
| Veralto Corp. | 0.02 | No change | $11,870,000 |
| Vroom Inc. | 0.00 | No change | $291,000 |
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