Bill Gates sells Microsoft and buys Berkshire Hathaway
In the second quarter of 2025, the Bill & Melinda Gates Foundation Trust reduced its stake in Microsoft while boosting its position in Berkshire Hathaway.
Details of these changes were disclosed in the trust’s 13F filing with the United States Securities and Exchange Commission.
These filings are required for all institutional investors managing more than $100 million (R1.76 billion) in assets.
The Bill & Melinda Gates Foundation was founded in 2000 by Bill Gates and his former wife, Melinda. In 2006, the organisation’s trustees implemented a two-part structure to separate its charitable work from its investment management.
Under this arrangement, the Bill & Melinda Gates Foundation focuses on awarding grants, while the Bill & Melinda Gates Foundation Trust manages the endowment and provides the funding needed for the foundation’s initiatives.
By the second quarter of 2025, the trust’s portfolio comprised 24 stocks worth $47.02 billion (R838.82 billion).
The trust reduced its stake in its biggest stock, Microsoft, which now makes up 27.27% of its portfolio and is valued at $13.03 billion (R223 billion). Its stake in the tech giant has been reduced in almost every quarter since late 2023.
The trust also made a major shift by expanding its investment in its second-largest holding, Berkshire Hathaway, which is run by billionaire Warren Buffett. The position was increased by 40.48%, raising its value to $11.72 billion (R205.70 billion).
Other than these adjustments, the rest of the trust’s holdings were left unchanged. Its investments span major global companies such as Walmart, Coca-Cola, and FedEx.
The portfolio also includes a stake in JSE-listed brewer AB InBev, which owns well-known local beer brands including Black Label, Castle, and Windhoek.
The trust holds 1,703,000 AB InBev shares, valued at $117.03 million (R2.05 billion), representing 0.24% of its overall portfolio.
The foundation’s approach to investing is notably diversified, with substantial positions across sectors such as technology, industrials, consumer goods, and transportation.
While it has pared back some of its larger holdings in recent years, the trust appears to be concentrating its capital in a handful of consistently strong performers, while also allocating funds to smaller, potentially high-growth opportunities.
This continual reshaping of its portfolio underlines the foundation’s strategy of aligning investments with its broader mission while staying responsive to evolving market conditions.
Bill & Melinda Gates Foundation’s portfolio
The table below shows the Bill & Melinda Gates Foundation’s share portfolio on 30 June 2025.
| Stock | % of portfolio | Change | Value |
|---|---|---|---|
| Microsoft Corp. | 27.27 | Reduce 7.96% | $13,027,768,000 |
| Berkshire Hathaway CL B | 24.53 | Add 40.48% | $11,718,562,000 |
| Waste Management Inc. | 15.44 | No change | $7,375,863,000 |
| Canadian National Railway Co. | 11.94 | No change | $5,704,179,000 |
| Caterpillar Inc. | 5.97 | No change | $2,854,746,000 |
| Deere & Co. | 3.79 | No change | $1,808,891,000 |
| Ecolab Inc. | 2.94 | No change | $1,405,950,000 |
| Walmart Inc. | 1.86 | No change | $888,867,000 |
| Coca-Cola FEMSA S A CV | 1.26 | No change | $601,150,000 |
| FedEx Corp. | 1.21 | No change | $576,086,000 |
| Waste Connections | 0.84 | No change | $401,294,000 |
| Coupang Inc. | 0.58 | No change | $277,071,000 |
| Crown Castle International Corp. | 0.31 | No change | $145,884,000 |
| SCHRODINGER Inc. | 0.29 | No change | $140,471,000 |
| Madison Square Garden Sports Corp. | 0.26 | No change | $123,783,000 |
| Anheuser-Busch InBev | 0.24 | No change | $117,030,000 |
| McDonald’s Corp. | 0.20 | No change | $97,848,000 |
| PACCAR Inc. | 0.20 | No change | $95,060,000 |
| West Pharmaceutical Services | 0.20 | No change | $97,257,000 |
| United Parcel Service | 0.16 | No change | $76,219,000 |
| Danaher Corp. | 0.15 | No change | $73,682,000 |
| Hormel Foods Corp. | 0.14 | No change | $66,408,000 |
| Kraft Heinz Co. | 0.14 | No change | $67,716,000 |
| On Holding AG | 0.05 | No change | $26,025,000 |
| Veralto Corp. | 0.03 | No change | $12,551,000 |
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