Bill Gates Portfolio List | All 21 Stock Investments Now

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Bill Gates Portfolio List | All 21 Stock Investments Now


Updated on December 28th, 2021 by Bob Ciura

Bill Gates is the fourth-richest person in the world, behind only Jeff Bezos, Elon Musk, and Bernard Arnault.

While Bill Gates has fallen to #4, his net worth of ~$124 billion is a massive amount of money. Not surprisingly, the Bill & Melinda Gates Foundation has a huge investment portfolio above $23 billion according to a recent 13F filing.

That kind of wealth is something the vast majority of us can only dream of. However, there is one similarity between the everyday investor and the wealthiest person on the planet.

We’re all looking for good stocks to buy and hold for the long-term.

Note: 13F filing performance is different than fund performance. See how we calculate 13F filing performance here.

That is why it is useful to review the stock holdings of the Bill & Melinda Gates Foundation.

You can download our full list of all 21 Gates Foundation stocks (along with important metrics like dividend yields and price-to-earnings ratios) by clicking on the link below:

 

Free Excel Download: Get a free Excel Spreadsheet of all of The Bill & Melinda Gates Trust’s individual stock holdings, complete with metrics that matter – including P/E ratio and dividend yield. Click here to download the Gates Foundation’s holdings now.

The Bill & Melinda Gates Foundation owns several highly profitable companies, with sustainable competitive advantages. Many of the stocks also pay dividends to shareholders, and grow their dividend payouts over time.

This article will discuss the 21 stocks held by the Bill & Melinda Gates Foundation.

Table of Contents

You can skip to the analysis for each of the Gates Foundation’s 21 stock holdings, with the table of contents below. Stocks are listed in order of the portfolio’s largest positions to smallest positions.

  1. Berkshire Hathaway (BRK.B)
  2. Waste Management (WM)
  3. Caterpillar Inc. (CAT)
  4. Canadian National Railway (CNI)
  5. Walmart (WMT)
  6. Ecolab (ECL)
  7. Microsoft (MSFT)
  8. Crown Castle International (CCI)
  9. United Parcel Service, Inc. (UPS)
  10. Schrodinger, Inc. (SDGR)
  11. Coca-Cola FEMSA, S.A.B. de C.V. (KOF)
  12. Deere & Company (DE)
  13. FedEx Corp. (FDX)
  14. Grupo Televisa SAB (TV)
  15. Coupang, Inc. (CPNG)
  16. Alphabet (GOOG)(GOOGL)
  17. Madison Square Garden Sports Corp. (MSGS)
  18. Weber Inc. (WEBR)
  19. On Holding AG (ON)
  20. Mexico Fund (MXF)
  21. Affirm Holdings, Inc. (AFRM)

You can also watch video analysis of Gates’ stock holdings below:

#1—Berkshire Hathaway

Dividend Yield: N/A (Berkshire Hathaway does not currently pay a dividend)

Percentage of Bill Gates’ Portfolio: 45.5%

Berkshire Hathaway stock is the largest individual holding of the Gates Foundation’s investment portfolio, and it is easy to see why. It’s safe to say the money is in good hands. Berkshire, under the stewardship of Warren Buffett, grew from a struggling textile manufacturer, into one of the largest conglomerates in the world.

Today, Berkshire is a global giant. It owns and operates dozens of businesses, with a hand in nearly every major industry including insurance, railroads, energy, finance, manufacturing, and retailing. It has a market capitalization above $600 billion.

Berkshire can be thought of in five parts: wholly owned insurance subsidiaries like GEICO, General Re and Berkshire Reinsurance; wholly-owned non-insurance subsidiaries like Dairy Queen, BNSF Railway, Duracell, Fruit of the Loom, NetJets, Precision Cast Parts and See’s Candies; shared control businesses like Kraft Heinz (KHC) and Pilot Flying J; marketable publicly-traded securities including significant stakes in companies like American Express (AXP), Apple (AAPL), Bank of America (BAC), Coca-Cola (KO) and Wells Fargo (WFC); and finally the company’s cash position.

In Berkshire’s annual letters to shareholders, Buffett typically evaluates the company’s performance in terms of book value. Book value is an accounting metric that measures a company’s assets minus its liabilities. The resulting difference is a company’s book value. This is a proxy for the intrinsic value of a firm, which Buffett believes to be the most important financial metric.

Berkshire doesn’t pay a dividend to shareholders. Buffett and his partner Charlie Munger have always contended that they can create wealth at a higher rate than the dividend would provide to shareholders.

While Berkshire stock may not be attractive for investors who want dividend income, there are few companies that have a track record nearly as great as Berkshire’s.

#2—Waste Management

Dividend Yield: 1.4%

Percentage of Bill Gates’ Portfolio: 12.0%

Waste Management is the embodiment of a company with a wide economic “moat”, a term popularized by Warren Buffett to describe a strong competitive advantage that protects a company from the full ravages of market competition. Waste Management operates in waste removal and recycling services. This is a highly-concentrated industry, with only a few companies controlling the majority of the market.

Click here to download our most recent Sure Analysis report on Waste Management (preview of page 1 of 3 shown below):

#3—Caterpillar

Dividend Yield: 2.1%

Percentage of Bill Gates’ Portfolio: 8.0%

Caterpillar is the global leader in heavy machinery. It has a strong brand with a dominant industry position. Caterpillar manufactures and markets heavy machinery, mostly for the construction and mining sectors.

The company operates in three primary segments: Construction Industries, Resource Industries and Energy & Transportation, along with ancillary financing and related services through its Financial Products segment.

The company’s Resource Industries segment was its best performer last quarter:

Source: Investor Presentation

In the 2021 third quarter, revenue of $12.4 billion increased 25% year-over-year, driven by higher sales volume and prices. Construction Industries, Resource Industries and Energy & Transportation posted gains of 30%, 32% and 22% respectively. Adjusted earningspershare increased 75% for the quarter.

Click here to download our most recent Sure Analysis report on Caterpillar (preview of page 1 of 3 shown below):

#4—Canadian National Railway

Dividend Yield: 1.6%

Percentage of Bill Gates’ Portfolio: 6.5%

Canadian National Railway is the only transcontinental railroad in North America. It has a network of approximately 20,000 route miles and connects three coasts: the Atlantic, the Pacific and the Gulf of Mexico. It handles over $200 billion worth of goods annually and carries over 300 million tons of cargo.

Click here to download our most recent Sure Analysis report on Canadian National Railway (preview of page 1 of 3 shown below):

#5—Walmart Inc.

Dividend Yield: 1.5%

Percentage of Bill Gates’ Portfolio: 4.2%

Walmart is another great example of a company with durable competitive advantages. It is the largest retailer in the U.S., with annual revenue above $600 billion. The company came to dominate the retail industry by keeping a laser-like focus on reducing costs everywhere, particularly in supply chain and distribution.

Consumers tend to scale down to discount retail when times are tight, which is why Walmart continued to grow, even during the Great Recession. As a result, Walmart is arguably the most recession-resistant stock in the Gates Foundation’s portfolio.

This allows Walmart the ability to raise its dividend each year like clockwork, even during recessions. Walmart has raised its dividend for over 40 years in a row.

Its long history of dividend growth qualifies Walmart as a Dividend Aristocrat, a group of companies in the S&P 500 that have raised dividends for at least 25 consecutive years.

You can see the entire list of all 65 Dividend Aristocrats here

Click here to download our most recent Sure Analysis report on Walmart (preview of page 1 of 3 shown below):

#6—Ecolab

Dividend Yield: 0.9%

Percentage of Bill Gates’ Portfolio: 3.9%

Ecolab was created in 1923, when its founder Merritt J. Osborn invented a new cleaning product called “Absorbit”. This product cleaned carpets without the need for businesses to shut down operations to conduct carpet cleaning. Osborn created a company revolving around the product, called Economics Laboratory, or Ecolab.

Source: Investor Presentation

Today, Ecolab is the industry leader and generates annual sales of roughly $12 billion. Ecolab operates three major business segments: Global Industrial, Global Institutional, and Global Energy, each of roughly equal size. The business is diversified in terms of operating segments, and also geography.

Click here to download our most recent Sure Analysis report on Ecolab (preview of page 1 of 3 shown below):

#7—Microsoft

Dividend Yield: 0.7%

Percentage of Bill Gates’ Portfolio: 3.6%

Microsoft Corporation, founded in 1975 and headquartered in Redmond, WA, develops, manufactures and sells both software and hardware to businesses and consumers.

Its offerings include operating systems, business software, software development tools, video games and gaming hardware, and cloud services.

Click here to download our most recent Sure Analysis report on Microsoft (preview of page 1 of 3 shown below):

#8—Crown Castle International

Dividend Yield: 2.9%

Percentage of Bill Gates’ Portfolio: 3.4%

Crown Castle International is structured as a real estate investment trust, or REIT. You can see our full REIT list here.

Crown Castle owns cell phone towers with small cells where larger towers are not feasible, and fiber connections for data transmission.

The trust owns, operates and leases more than 40,000 cell towers and 75,000 route miles of fiber across every major US market, helping it to support data infrastructure across the country.

Click here to download our most recent Sure Analysis report on Crown Castle International (preview of page 1 of 3 shown below):

#9—United Parcel Service

Dividend Yield: 1.9%

Percentage of Bill Gates’ Portfolio: 1.8%

United Parcel Service is a logistics and package delivery company that offers services including transportation, distribution, ground freight, ocean freight, insurance and financing. Its operations are split into three segments: U.S. Domestic Package, International Package, and Supply Chain & Freight.

The company’s continued growth in the face of potential global economic headwinds, is due largely to its competitive advantages. UPS is the largest logistics/package delivery company in the U.S.

It operates in a near duopoly, as its only major competitor to date is FedEx (FDX). To be sure, Amazon (AMZN) is expanding its own logistics business, but it still remains a customer of UPS as well.

Click here to download our most recent Sure Analysis report on UPS (preview of page 1 of 3 shown below):

#10—Schrodinger Inc.

Dividend Yield: N/A

Percentage of Bill Gates’ Portfolio: 1.7%

Schrodinger, Inc. is a health care technology company. It operates a computational platform that aims to accelerate drug delivery, both for external clients and the company’s own internal drug programs. Schrodinger conducted its initial public offering in February 2020. The stock currently has a market capitalization above $2 billion.

Schrodinger has exciting growth potential, due to the success of its drug delivery platform and its large and diversified customer base.

Schrodinger has a long runway of growth, because of the high degree of value that its products and services provide to customers. Designing drugs is extremely difficult work which is complex, lengthy, capital-intensive, and prone to high failure rates. This means many customers will continue to outsource this work to Schrodinger.

#11—Coca-Cola FEMSA SAB

Dividend Yield: 4.5%

Percentage of Bill Gates’ Portfolio: 1.5%

Coca-Cola FEMSA produces, markets, and distributes Coca-Cola (KO) beverages. It offers the full line of sparkling and still beverages. It sells its products through distribution centers and retailers in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and the Philippines.

Coca-Cola FEMSA is the largest franchise bottler in the world. The stock is an excellent way to gain exposure to two very attractive emerging markets: Latin America and South Asia.

#12—Deere & Company (DE)

Dividend Yield: 1.2%

Percentage of Bill Gates’ Portfolio: 1.5%

Deere & Company is the largest manufacturer of farm equipment in the world. The company also makes equipment used in construction, forestry & turf care, produces engines and provides financial solutions to its customers. Deere was founded in 1837.

On August 25th, 2021, Deere increased its dividend 16.7% to $1.05 after increasing its dividend 18.4% two quarters ago.

Click here to download our most recent Sure Analysis report on Deere (preview of page 1 of 3 shown below):


#13—FedEx

Dividend Yield: 0.9%

Percentage of Bill Gates’ Portfolio: 3.5%

FedEx Corp. is a transportation and shipping company. The company offers a variety of services including transportation, e-commerce, and business services. It operates four core segments: FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services.

Click here to download our most recent Sure Analysis report on FedEx (preview of page 1 of 3 shown below):

#14—Grupo Televisa SAB (TV)

Dividend Yield: N/A

Percentage of Bill Gates’ Portfolio: 0.8%

Televisa is a diversified media conglomerate. In all, Televisa operates 25 pay-tv brands, and television networks, cable operators and over-the-top services in over 50 countries. In the U.S., it operates Univision. In addition, Televisa owns a majority interest in Sky, a satellite television provider in Mexico, the Dominican Republic, and Central America.

The company is enjoying strong growth, thanks largely to high economic growth in Mexico and several Latin American markets. The company’s strongest businesses are Sky and cable.

Televisa is a strong brand and has a fundamental advantage, thanks to its geographic focus. As a result, it is a compelling growth stock, for investors interested in international diversification. The company has multiple catalysts for growth in front of it, specifically a rising audience and declining capital expenditure requirements.

At the same time, capital intensity is declining for that business segment, thanks to the conclusion of a multi-year period of elevated investment to build out its network.

This investment in expanding the company’s customer base will propel its future growth in the years ahead.

#15—Coupang, Inc.

Dividend Yield: N/A

Percentage of Bill Gates’ Portfolio: 0.7%

Coupang is an e-commerce platform through its mobile apps and websites primarily in South Korea. It sells various products and services in the categories of home goods, apparel, beauty products, fresh food and groceries, sporting goods, electronics, consumables, and more.

#16—Alphabet Inc. (GOOG)(GOOGL)

Dividend Yield: N/A

Percentage of Bill Gates’ Portfolio: 0.25%/0.25%

Investors most likely know Alphabet by of its former name – and largest business – Google. Since going public in 2004, Google has grown into a technology giant, which now exists as a conglomerate known as Alphabet. The stock trades under two share classes, an ‘A’ class and a ‘C’ class. The ‘A’ class, GOOGL, has voting rights, while the ‘C’ class, GOOG, does not.

Alphabet holds all the various businesses—the Google search platform, Android, Chrome, YouTube, Nest, Gmail, Maps and more – under one umbrella. Google Cloud is an emerging growth platform for the company.

Alphabet has positive long-term growth potential from three major sources.

First, Alphabet has the world’s dominant search engine, which generates a remarkable amount of cash. Growth may slow at some point, but we see plenty of opportunity as the network effect continues to take hold around the world (making Google more and more valuable to advertisers).

Next, the company makes significant investments in new technologies, known as its Other Bets segment. Other Bets investments are devoted to high-risk, high-reward ventures. Alphabet’s Other Bets include life sciences brand Verily and Google Fiber. These bets still represent a very small part of the company but have the opportunity to propel Alphabet to its next level. Finally, the company’s immense cash hoard allows Google to retire shares and “buy its way” to growth via acquisitions.

#17—Madison Square Garden Sports Corp. (MSGS)

Dividend Yield: N/A

Percentage of Bill Gates’ Portfolio: 0.22%

Madison Square Garden Sports Corp. is a diversified sports company. It owns multiple sports franchises including the New York Knicks and the New York Rangers. It also owns development league teams such as the Hartford Wolf Pack and the Westchester Knicks of the NBA G League. It also owns e-sports properties including Knicks Gaming and a controlling interest in Counter Logic Gaming (CLG).

#18—Weber Inc.

Dividend Yield: N/A

Percentage of Bill Gates’ Portfolio: 0.19%

Weber manufactures and distributes outdoor cooking products, accessories, consumables, and services in the U.S. and internationally. Its products include charcoal and gas grills, smokers, pellet and electric grills, and more.

#19—On Holding AG (ONON)

Dividend Yield: N/A

Percentage of Bill Gates’ Portfolio: 0.06%

On Holding is based in Switzerland and it develops and distributes sports products worldwide. It offers its products through independent retailers and distributors, online, and stores.

#20—Mexico Fund (MXF)

Dividend Yield: N/A

Percentage of Bill Gates’ Portfolio: 0.05%

The Mexico Fund, Inc. is a closed-ended equity mutual fund launched and managed by Impulsora del Fondo México, S.C. It primarily invests in public equity markets of Mexico.

#21—Affirm Holdings (AFRM)

Dividend Yield: N/A

Percentage of Bill Gates’ Portfolio: 0.02%

Affirm Holdings is a platform for digital and mobile-first commerce in the United States and Canada. The company’s platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app.

Additional Resources

See the articles below for analysis on other major investment firms/asset managers/gurus:

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