Gates Foundation Invests Big in Home Depot After Solid Q2 Performance

The Bill & Melinda Gates Foundation Trust made a significant investment in Home Depot (HD), acquiring $352.7 million worth of shares during Q2, according to a recent report.

This new stake represents a strategic move for the trust, which oversees $34.42 billion in securities. The foundation also reduced its Berkshire Hathaway holdings by approximately $818 million to finance this investment.

Home Depot's solid Q2 performance likely played a role in the trust's decision. The company reported revenue of $47.9 billion, representing 5.7% year-over-year growth, and earnings per share of $4.92, surpassing analyst projections.