Gates Foundation: Analysts puzzled by massive Microsoft sell-off; portfolio slashed;

The Gates Foundation Trust executed a significant portfolio shift in Q3 2025, drastically reducing its Microsoft stake by 65% to $8.267 billion. This move, alongside other divestments, lowered the total portfolio value and aimed to rebalance concentration and fund increased philanthropic commitments. Berkshire Hathaway, Waste Management, and Canadian National Railway now lead the trust’s holdings.