Gates Foundation Ditches Tech for Timeless Industrial and Consumer Stocks
The Bill and Melinda Gates Foundation's investment portfolio is heavily weighted towards established companies in the consumer and industrial sectors, rather than tech stocks. As of June 30, its largest holding was Berkshire Hathaway (BRKA, BRKB), valued at $7.4 billion.
The foundation owns 14.7 million shares of Berkshire Hathaway, down from 2.4 million fewer shares in the second quarter. Its next four largest holdings are also industrial sector companies: Caterpillar (CAT), Canadian National Railway, Waste Management, and Deere.
Consumer goods companies like Walmart, Home Depot, and McDonald's also make up a significant portion of its portfolio. In fact, the foundation initiated a new position in Home Depot during the second quarter by purchasing 1 million shares worth over $350 million as of June 30.