Bill Gates's Foundation Trust Buys $180 Million Stake in FedEx Freight

The Bill and Melinda Gates Foundation Trust bought 1.19 million shares of FedEx Freight Holding ($FDXF) for approximately $180 million, according to its Q2 2026 13F filing. The position is worth $746.6 million, and the fund's total 13F portfolio stands at $34.42 billion, with top holdings including Berkshire Hathaway, Caterpillar, Canadian National Railway, and Waste Management, per WhaleWisdom.
FedEx Freight, North America's largest less-than-truckload carrier, became an independently traded public company on June 1, 2026, following FedEx's December 2024 spinoff announcement. Jim Cramer noted on Mad Money that spinoffs often see "mechanical" selling pressure from shareholders unfamiliar with the new entity, calling it "a temporary beatdown" that can create mispricing opportunities, per Yahoo Finance.
FedEx Freight's Q4 fiscal 2026 revenue was $2.4 billion, up 4.8% year-over-year, though adjusted operating income fell 23.9% to $363 million. Full-year fiscal 2026 revenue was $8.8 billion, down 1.1%. Goldman Sachs initiated coverage with a Buy rating and $186 price target, forecasting 4-6% annual revenue growth through 2029 and EPS rising from $4.65 in fiscal 2027 to $6.95 by 2029, according to Investing.com. At $135.73, FDXF trades at 26.45 times forward earnings, with Goldman's target implying about 37% upside.