| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
The Gates Foundation Trust significantly rebalanced its portfolio in the third quarter of 2025, trimming its largest holdings and exiting several positions entirely in a quarter marked by selling.
The foundation’s total portfolio value fell from $47.78 billion at the end of the second quarter to $36.58 billion as of Sept. 30, according to its latest 13F filing.
The most dramatic change was a 65% reduction in its Microsoft Corp. (NASDAQ:MSFT) stake, with the trust selling 17,000,000 shares. This reduced its total holding from over 26.19 million shares to just 9.19 million shares, thus slashing $8.267 billion of its stake.
The foundation also pared back its other top-tier investments. It sold 10% or 2,358,460 shares of Berkshire Hathaway Inc. (NYSE:BRK) for $776.313 million.
Additionally, the trust trimmed its Waste Management Inc. (NYSE:WM) position by $986.291 million, which came up to 3,300,000 shares, representing a 10% reduction.
Another major trim was the sale of 3,000,000 shares of Canadian National Railway Co. (CNR), 1,000,000 shares of Caterpillar Inc. (NYSE:CAT), and 700,000 shares of Walmart Inc. (NYSE:WMT).
These portfolio changes led to BRK-B, WM, and CNR becoming the top three holdings of the foundation, with CNR’s stake being slightly higher in value than MSFT.
The filing also revealed a portfolio cleanup. The foundation completely exited two positions, selling all 1,420,072 shares of Crown Castle Inc. (NYSE:CCI) and all 755,089 shares of United Parcel Service Inc. (NYSE:UPS).
These moves, which involved no new purchases or increases to existing stakes, reduced the total number of holdings in the trust’s portfolio from 25 to 23.
| Action | Company | Shares Sold | New Holding |
| Top Subtraction | Microsoft Corp. | -17,000,000 | 9,191,207 |
| Subtraction | Waste Management Inc. | -3,300,000 | 28,934,344 |
| Subtraction | Canadian National Railway | -3,000,000 | 51,826,786 |
| Subtraction | Berkshire Hathaway Inc. | -2,358,460 | 21,765,224 |
| Subtraction | Caterpillar Inc. | -1,000,000 | 6,353,614 |
| Subtraction | Walmart Inc. | -700,000 | 8,390,477 |
| Complete Exit | Crown Castle Inc. | -1,420,072 | 0 |
| Complete Exit | United Parcel Service Inc. | -755,089 | 0 |
Read Next:
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Tada Images / Shutterstock.coma
