The Bill & Melinda Gates Foundation Trust established a $353 million stake in Home Depot during the second quarter of 2026, acquiring 1 million shares of the retailer as part of a broader portfolio rebalancing that reduced its long-standing position in Berkshire Hathaway by $819 million.
According to the foundation’s 13F regulatory disclosure filed in August, the trust cut its Berkshire Hathaway holding by 14%, offloading 2.4 million shares and leaving it with 14.7 million shares valued at $7.35 billion, down from $8.17 billion in the first quarter. The capital freed up from the Berkshire reduction was redirected into new and expanded positions across consumer retail and logistics infrastructure.
Beyond Home Depot, the Gates Foundation initiated a new $180 million position in FedEx Freight Holding Company, acquiring 1.19 million shares. The foundation also trimmed its holdings in Waste Management by 3%, selling 921,600 shares and reducing that stake’s value by $396 million to $5.96 billion. These moves reflect a deliberate shift away from the conglomerate model Berkshire Hathaway represents toward more targeted exposure to specific sectors.
The rebalancing came on the heels of the foundation’s complete liquidation of its Microsoft position in the first quarter of 2026, a move that marked a significant departure from the trust’s historical concentration in technology and diversified holding companies. The portfolio’s total value climbed from $31.67 billion across 22 holdings at the end of Q1 to $34.42 billion across 24 holdings by the end of Q2, indicating growth despite the strategic repositioning.
The timing of the Gates Foundation’s Berkshire reduction follows a significant shift in the relationship between Warren Buffett and the foundation. In July 2026, Buffett announced he would end his annual charitable stock donations to the Gates Foundation after directing more than $47 billion to it over decades. The Berkshire CEO stated he would redirect future charitable giving to his children’s foundations and other causes, citing revelations about Bill Gates’ ties to Jeffrey Epstein. The Gates Foundation’s subsequent trimming of its Berkshire stake suggests the trust is adapting its investment strategy independently of those developments, moving toward a more diversified portfolio aligned with evolving market conditions and investment priorities.
Sources
- Benzinga / Yahoo Finance — detailed Q2 2026 13F disclosure showing the $819 million Berkshire reduction, $353 million Home Depot position, FedEx Freight acquisition, and overall portfolio composition
- Reuters / MarketScreener — confirmation of Gates Foundation’s disclosure of new Home Depot and FedEx Freight stakes in August 2026
- Bloomberg / Financial Times — reporting on Warren Buffett’s July 2026 announcement excluding the Gates Foundation from annual charitable stock gifts
