Bill Gates and Melinda French Gates’ Gates Foundation Trust reshuffled its investment holdings in the second quarter of 2026, trimming its stake in Warren Buffett’s Berkshire Hathaway (NYSE:BRK) by more than $800 million while initiating a new position in Home Depot (NYSE:HD), signaling a shift toward consumer retail and logistics infrastructure.
Trimming Berkshire Hathaway and Waste Management
According to the trust’s second-quarter 13F regulatory disclosure, the foundation reduced its long-standing stake in Berkshire Hathaway by 14%.
The trust offloaded 2.4 million shares, leaving it with 14.7 million shares. This divestment slashed the holding’s overall market value by $818.9 million—dropping from $8.17 billion in the first quarter to $7.35 billion by June 30.
The trust also trimmed its position in Waste Management (NYSE:WM), selling 921,600 shares, a 3% reduction, and lowering its stake value by $396.4 million to $5.96 billion.
Adding Home Depot and Logistics Stakes
Reallocating capital into new opportunities, the foundation trust established two brand-new positions during the quarter. Most notably, the trust acquired 1,000,000 shares of Home Depot, establishing a position valued at $352.7 million.
Additionally, it initiated a 1,192,181-share stake in FedEx Freight Holding Company Inc. (NYSE:FDXF), worth $180 million.
Following its complete liquidation of Microsoft Corp. (NASDAQ:MSFT) in the first quarter of 2026, the Gates Foundation Trust saw its total portfolio value climb from $31.67 billion across 22 holdings to $34.42 billion across 24 holdings at the end of the second quarter.
Portfolio Adjustments: Q1 2026 vs. Q2 2026
| Company | Q1 2026 Shares | Q2 2026 Shares | Share Change | Q1 2026 Value ($000) | Q2 2026 Value ($000) | Value Change ($000) |
| Berkshire Hathaway | 17,048,304 | 14,689,844 | -2,358,460 (-14%) | $8,169,547 | $7,350,651 | -$818,896 (-10%) |
| Home Depot | 0 | 1,000,000 | +1,000,000 (NEW) | $0 | $352,680 | +$352,680 (NEW) |
| FedEx Freight Holding | 0 | 1,192,181 | +1,192,181 (NEW) | $0 | $180,019 | +$180,019 (NEW) |
| Waste Management | 27,642,344 | 26,720,744 | -921,600 (-3%) | $6,351,934 | $5,955,519 | -$396,415 (-6%) |
How Has HD Performed In 2026?
HD shares fell 1.52% year-to-date, declined 15.35% over the last year, and 13.35% over the last six months. It closed 0.83% lower at $338.86 per share on Friday, and it was 0.32% lower in premarket trading on Monday.
Benzinga’s Edge Stock Rankings indicate that HD maintains a weak price trend in the long term but a strong trend in the short and medium terms, with a poor growth score.
Photo Courtesy: Alexandros Michailidis on Shutterstock
Login to comment