Bill Gates - Bill & Melinda Gates Foundation Trust Investment Strategy (Jun 30, 2025)

As of Jun 30, 2025, the Bill & Melinda Gates Foundation Trust portfolio managed by Bill Gates demonstrates a sophisticated investment approach with 78 positions and an average holding period of 2203 quarters. The strategy focuses on Basic Materials, Communication Services, Consumer Cyclical, Consumer Defensive, Energy, Financial Services, Healthcare, Industrials, Real Estate, Technology sectors with a typical position size of 8.6% of the portfolio.

The portfolio's risk management approach includes a maximum position size of 8.57% and sector diversification of 10%, exemplified by the case study of MICROSOFT CORP (MSFT). This strategic framework provides insights into Bill Gates's investment philosophy, risk management practices, and long-term value creation approach.

Key metrics revealing investment style, risk management, and performance characteristics

Metric	Value	Category	Description
Holding Period	6.0 years	Style	Average duration positions are maintained
Position Count	78	Style	Number of active positions in portfolio
Position Size	8.6%	Risk	Typical allocation per position
Win Rate	55.7%	Performance	Percentage of profitable positions
Average Return	2107.5%	Performance	Mean return across positions
Sharpe Ratio	0.14	Performance	Return per unit of risk taken

Investment Case Study: MICROSOFT CORP (MSFT)

6/30/2017 - 11/3/2025

Total Return: 3,468.25%

Holding Period: 3048 days

Max Position Size: $15,593,905,379.00

Position Weight: 18.57%

6/30/2017: ENTRY(64,000,000.00 shares) @ $0.07

9/30/2017: DECREASE(-8,000,000.00 shares) @ $0.07

12/31/2017: DECREASE(-8,000,000.00 shares) @ $0.09

3/31/2018: DECREASE(-8,000,000.00 shares) @ $0.09

6/30/2018: DECREASE(-8,000,000.00 shares) @ $0.10

9/30/2018: DECREASE(-8,000,000.00 shares) @ $0.11

12/31/2018: DECREASE(-8,000,000.00 shares) @ $0.10

3/31/2019: DECREASE(-8,000,000.00 shares) @ $0.12

9/30/2021: DECREASE(-5,062,297.00 shares) @ $0.28

12/31/2021: DECREASE(-1,000,000.00 shares) @ $0.34

3/31/2022: DECREASE(-993,083.00 shares) @ $0.31

9/30/2022: INCREASE(38,320,050.00 shares) @ $0.23

9/30/2023: INCREASE(21,500.00 shares) @ $315.75

12/31/2023: DECREASE(-1,075,301.00 shares) @ $376.04

3/31/2024: DECREASE(-1,711,272.00 shares) @ $420.72

6/30/2024: DECREASE(-1,610,000.00 shares) @ $446.95

9/30/2024: DECREASE(-5,932,350.00 shares) @ $430.30

12/31/2024: DECREASE(-500,000.00 shares) @ $421.50

6/30/2025: DECREASE(-2,266,040.00 shares) @ $497.41

Entry Context: Initial position established based on fundamental analysis

Sector Conditions: Favorable market conditions in the sector

Risk Factors: