Bill Gates Stock Portfolio: Latest 2024 Update

3. Waste Management, Inc. (NYSE:WM)

Bill & Melinda Gates Foundation’s Investment Stake: $6.7 billion

Number of Hedge Fund Investors In Q3 2024: 54

Waste Management, Inc. (NYSE:WM) is a Houston-based mega-corporation that provides trash transportation services and operates recycling facilities and landfills. Its scale and market position, with a customer base covering more than 20 million people, offer Waste Management, Inc. (NYSE:WM) a wide moat in its industry and make it one of the largest waste management firms in the US. The energy-intensive nature of its operations means that the firm is vulnerable to any upticks in energy prices as these drive up its logistics, landfill, and recycling plant costs. Additionally, Waste Management, Inc. (NYSE:WM) is also focusing on generating renewable energy for its facilities, which can help it bring down these costs in the future. The firm also depends on efficient route planning, and in 2024, it has benefited from higher prices in the wake of turmoil in the auto industry that has stressed the refurbishment market. Looking ahead, facility automation, route planning, and renewable energy will drive Waste Management, Inc. (NYSE:WM)’s hypothesis.

Parnassus Investments mentioned Waste Management, Inc. (NYSE:WM) in its Q3 2024 investor letter. Here is what the fund said:

Waste Management, Inc. (NYSE:WM) announced second-quarter revenue and earnings that fell just short of analyst expectations, weighing on the stock. However, company management reiterated their optimistic full-year guidance for adjusted operating EBITDA (earnings before interest, taxes, depreciation and amortization) and free cash flow.”