Bill Gates Makes Key Portfolio Changes in Q1

Reduced Berkshire Hathaway Shares

The Bill and Melinda Gates Foundation Trust reduced its holdings in Berkshire Hathaway Inc. (NYSE: BRK.B) by 2,613,252 shares in the first quarter of 2023.

This reduction represents a 13.12% decrease in the Trust's Berkshire Hathaway stake and a 2.2% reduction in its overall portfolio.

Increased Berkshire Hathaway Shares

Concurrent with the reduction, the Trust also increased its stake in Berkshire Hathaway Inc. (NYSE: BRK.B) by 7,317,105 shares.

This increase represents a 36.58% increase in the Trust's Berkshire Hathaway stake and a 7.32% increase in its overall portfolio.

Overweight in Four Stocks

Following these changes, the Bill and Melinda Gates Foundation Trust's portfolio is now overweight in four stocks:

• Berkshire Hathaway Inc. (NYSE: BRK.B)
• Canadian National Railway Company (NYSE: CNI)
• Caterpillar Inc. (NYSE: CAT)
• Walmart Inc. (NYSE: WMT)

Implications

These portfolio changes suggest that Bill Gates is adjusting his investment strategy to navigate the current market environment.

Gates's continued faith in Berkshire Hathaway despite its recent underperformance is noteworthy, as it underscores his long-term investment horizon.

The overweight positions in Canadian National Railway, Caterpillar, and Walmart indicate Gates's focus on defensive, dividend-paying stocks amid economic uncertainty.