Mon Feb 24 01:20:00 UTC 2025: ## Gates Foundation’s $44 Billion Portfolio: A Trio of Top Holdings Fuels Impressive Returns

**Seattle, WA – March 8, 2025** – The Bill & Melinda Gates Foundation, known for its massive philanthropic efforts, has revealed a highly concentrated investment strategy, with 65% of its $44 billion equity portfolio invested in just three stocks: Microsoft, Berkshire Hathaway, and Waste Management. This strategy, reflecting the influence of both Bill Gates and Warren Buffett (a foundation trustee until 2021), has yielded significant returns.

Microsoft, Gates’ original company, remains a cornerstone. Although Gates has significantly divested over the years for philanthropic purposes, the foundation still holds approximately 28.5 million shares, currently valued at around $11.8 billion. This stake has benefited immensely from Microsoft’s recent surge fueled by the increasing demand for artificial intelligence (AI) services through its Azure cloud platform and AI-powered integrations across its software suite.

Berkshire Hathaway, Warren Buffett’s company, is another major holding, with the foundation possessing 19.7 million shares valued at roughly $9.5 billion. Buffett’s annual donations of Berkshire Hathaway shares to the foundation, coupled with a stipulation requiring annual distribution of these donations plus 5% of net assets, results in a dynamic investment strategy involving regular share sales. Despite this, the foundation maintains a substantial position, benefiting from Berkshire’s strong performance and diversified portfolio.

Rounding out the top three is Waste Management, a long-term holding representing a diversification strategy favored by Gates and aligning with Buffett’s preference for stable, “moat-protected” businesses. This leading waste management company is benefiting from steady growth and strategic acquisitions. The recent Stericycle acquisition is expected to generate significant synergies.

The Gates Foundation’s portfolio highlights a successful strategy of combining growth-oriented technology investments with more established, stable businesses. The foundation’s significant holdings in these three companies underscore the continued success of these businesses and the effectiveness of its investment approach. The impressive returns generated contribute directly to the foundation’s ongoing philanthropic work globally.

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