The Bill & Melinda Gates Foundation Trust has fully exited its long-held position in Microsoft (NASDAQ: MSFT), selling its remaining shares during the first quarter of 2026.

According to a quarterly 13F filing with the Securities and Exchange Commission (SEC) on May 15, the trust sold its final 7.7 million Microsoft shares, a stake valued at approximately $3.2 billion.

The move reduces the foundation’s Microsoft holdings to zero for the first time in decades, marking the end of one of the most closely watched relationships between a major charitable endowment and a technology company.

The exit follows a broader reduction strategy that has already significantly lowered the trust’s exposure to Microsoft in recent quarters.

By the end of March 2025, the foundation still held roughly 28.5 million shares worth about $10.7 billion. However, the position was sharply reduced throughout 2025, including a major third-quarter sale that trimmed the stake by nearly 65%.

Alongside the Microsoft divestment, the foundation trust also adjusted several other core holdings during the reporting period.

The portfolio saw reductions in positions tied to Berkshire Hathaway and Waste Management as the organization continued rebalancing its assets amid plans to expand annual philanthropic spending.

The Bill & Melinda Gates Foundation Trust stock filings. Source: SEC

The changes align with the foundation’s broader strategy to increase liquidity and diversify its investment base as it prepares for a long-term wind-down of the endowment.

The organization has committed to raising annual grantmaking to about $9 billion while accelerating spending on global health, poverty reduction, education, and other humanitarian initiatives over the next two decades.

Bill & Melinda Gates Foundation Trust other stock holdings

With Microsoft no longer part of the portfolio, the trust’s largest remaining holdings are concentrated in Berkshire Hathaway (NYSE: BRK.B), Waste Management (NYSE: WM), Canadian National Railway, and Caterpillar (NYSE: CAT).

The shift is expected to lower concentration risk while preserving exposure to stable, long-term industrial and infrastructure-focused investments.

The transaction applies solely to the foundation trust and does not reflect Bill Gates’ personal holdings, which reportedly remain at more than 100 million Microsoft shares.

The trust itself operates as a separate philanthropic investment vehicle managed with support from Cascade Asset Management, with Gates serving as sole trustee.

Despite the significance of the divestment, market reaction is expected to remain relatively muted, as investors largely view the sale as tied to the foundation’s structural and philanthropic objectives rather than concerns about the company’s business outlook.

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