Bill Gates' Foundation Trust cuts Microsoft stake by 65% — dropping to a mere $4.7 billion in its vast portfolio

The Bill and Melinda Gates Foundation Trust is the investment fund that supports the Foundation’s charitable work. It manages large assets donated by Bill Gates, Melinda French Gates, and the large past and ongoing donations from Warren Buffett.

It operates separately from the Foundation itself, which focuses on awarding grants and running global health and education programs. The Trust’s holdings are publicly disclosed through regular SEC filings.

Interestingly, the Trust reduced its Microsoft stake by about 65 percent in the quarter ending on 30 September 2025, selling more than 17 million shares during that period. Before the sale, Microsoft was the Trust’s largest holding at roughly $13 billion, which made up nearly one-third of the entire portfolio.

How did Gates' Trust portfolio change after the Microsoft sale?

After the sale of 65 percent of its Microsoft shares, the stock moved from the Trust’s largest position down to the fourth largest. The overall portfolio is now valued at $70 billion; however, the managed portfolio sits closer to $36 billion, with Berkshire Hathaway becoming the Trust’s biggest holding at about $10.9 billion.

Following the reduction, the value of the Microsoft position also dropped to about $4.7 billion. Berkshire Hathaway is a large American holding company run by Warren Buffett. It owns businesses such as Dairy Queen, along with several energy and utility companies, and it also holds major investments in Apple, Coca-Cola, and multiple banks.

Waste Management and Canadian National Railway are now the next largest positions in the Trust’s portfolio. These were already long-term holdings and remain central parts of its asset mix.

The Trust also reduced several other holdings during the quarter and fully exited Crown Castle and United Parcel Service. It still holds more than 9 million Microsoft shares, so it has not stepped away from Microsoft entirely and continues to be a significant investor in the company.

What’s next for the Bill & Melinda Gates Foundation Trust?

The Trust plans to increase its annual grant spending to about $9 billion by 2026. It also has a long-term goal to spend down its entire endowment by 2045, which means it aims to use all of its funds on charitable work by that year.

Despite the sale of Microsoft shares, the Bill and Melinda Gates Foundation Trust still remains one of the largest investment pools in the world.

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