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Gates Foundation Trust

Kirkland, WA 20 processed 13Fs on this site, 2021 Q3 to 2026 Q2

  • $34.4B
  • 24 holdings
  • 2026 Q2
  • +8.7% QoQ
  • Top 5 82.8%

Portfolio

2026 Q2, filed 8/14/2026, top 12 of 24 holdings

Top 5 82.8%, top 10 94.9%

  1. BRK.B, Berkshire Hathaway 21.3%
  2. CAT, Caterpillar 19.7%
  3. CNI, Canadian National Railway 17.9%
  4. WM, Waste Management 17.3%
  5. DE, Deere 6.6%
  6. ECL, Ecolab 4.2%
  7. WMT, Walmart 2.8%
  8. FDX, FedEx 2.2%
  9. KOF 1.9%
  10. HD, Home Depot 1.0%
  11. WCN, Waste Connections 1.0%
  12. MSGS, MSG Sports 0.7%
  13. Other 3.4%

AUM over time

2026 Q2 $34.4B +8.7% QoQ
2021 Q3: $23.2B 2021 Q3: $23.2B
Q3 2021
2021 Q4: $23B, −0.9% QoQ 2021 Q4: $23B, −0.9% QoQ
Q4
2022 Q1: $19.8B, −14.0% QoQ 2022 Q1: $19.8B, −14.0% QoQ
Q1 2022
2022 Q2: $17.7B, −10.5% QoQ 2022 Q2: $17.7B, −10.5% QoQ
Q2
2022 Q3: $34B, +92.2% QoQ 2022 Q3: $34B, +92.2% QoQ
Q3
2022 Q4: $35.7B, +5.1% QoQ 2022 Q4: $35.7B, +5.1% QoQ
Q4
2023 Q1: $36.5B, +2.1% QoQ 2023 Q1: $36.5B, +2.1% QoQ
Q1 2023
2023 Q2: $42.1B, +15.4% QoQ 2023 Q2: $42.1B, +15.4% QoQ
Q2
2023 Q3: $38.9B, −7.5% QoQ 2023 Q3: $38.9B, −7.5% QoQ
Q3
2023 Q4: $42.3B, +8.7% QoQ 2023 Q4: $42.3B, +8.7% QoQ
Q4
2024 Q1: $45.9B, +8.5% QoQ 2024 Q1: $45.9B, +8.5% QoQ
Q1 2024
2024 Q2: $47.7B, +3.9% QoQ 2024 Q2: $47.7B, +3.9% QoQ
Q2
2024 Q3: $45.1B, −5.4% QoQ 2024 Q3: $45.1B, −5.4% QoQ
Q3
2024 Q4: $42B, −6.8% QoQ 2024 Q4: $42B, −6.8% QoQ
Q4
2025 Q1: $41.8B, −0.5% QoQ 2025 Q1: $41.8B, −0.5% QoQ
Q1 2025
2025 Q2: $47.8B, +14.3% QoQ 2025 Q2: $47.8B, +14.3% QoQ
Q2
2025 Q3: $36.6B, −23.4% QoQ 2025 Q3: $36.6B, −23.4% QoQ
Q3
2025 Q4: $35.4B, −3.3% QoQ 2025 Q4: $35.4B, −3.3% QoQ
Q4
2026 Q1: $31.7B, −10.4% QoQ 2026 Q1: $31.7B, −10.4% QoQ
Q1 2026
2026 Q2: $34.4B, +8.7% QoQ 2026 Q2: $34.4B, +8.7% QoQ
Q2

Book

2021 Q4 2021 Q3, filed 14 Feb, long equity only

Download CSV Download Excel All activity
BRK.B, Berkshire Hathaway 43.85%, was 45.53% Reduce −12.9% 33,686,679 $299.00 $10.1B −5,000,000 −$487M
WM, Waste Management 13.54% Hold 18,633,672 $166.90 $3.1B — —
CAT, Caterpillar 8.72% Hold 9,685,132 $206.74 $2B — —
CNI, Canadian National Railway 6.99% Hold 13,066,169 $122.89 $1.6B — —
ECL, Ecolab 4.46% Hold 4,366,427 $234.59 $1B — —
WMT, Walmart 4.36% Hold 6,921,739 $144.69 $1B — —
CCI, Crown Castle 4.15% Hold 4,564,046 $208.74 $953M — —
MSFT, Microsoft 2.84%, was 3.57% Reduce −34.0% 1,937,703 $336.32 $652M −1,000,000 −$177M
UPS 2.13% Hold 2,284,015 $214.34 $490M — —
FDX, FedEx 1.68% Hold 1,493,712 $258.64 $386M — —
DE, Deere 1.54% Hold 1,033,598 $342.89 $354M — —
KOF 1.48% Hold 6,214,719 $54.79 $341M — —
SDGR, Schrodinger 1.06% Hold 6,981,664 $34.83 $243M — —
Canadian Pacific Railway 0.78% New 2,478,545 $71.94 $178M +2,478,545 +$178M
CPNG, Coupang 0.73% Hold 5,714,285 $29.38 $168M — —
Sanderson Farms 0.44% New 524,236 $191.08 $100M +524,236 +$100M
Grupo Televisa 0.29%, was 0.77% Reduce −56.8% 7,038,529 $9.37 $66M −9,264,360 −$113M
GOOGL, Alphabet Class A 0.27% Hold 21,554 $2,897 $62M — —
GOOG, Alphabet Class C 0.27% Hold 21,491 $2,894 $62M — —
MSGS, MSG Sports 0.21% Hold 278,147 $173.73 $48M — —
Weber 0.14% Hold 2,500,000 $12.93 $32M — —
ONON, On Holding 0.08% Hold 500,000 $37.81 $19M — —

Exits / last held

Gone since 2021 Q3, shown at their last reported size.

Stock % of portfolio Recent activity Shares Reported price* Value Share change $ change
CHCO, Kansas City Southern 2.56% Exit 0 $270.64 $593M −2,190,000 −$593M
AFRM, Affirm 0.02% Exit 0 $119.13 $4.2M −35,229 −$4.2M

Weight bar: held both quarters added sold at this quarter’s reported price

* Reported price is value ÷ shares from the 13F as of period end, not a live market quote. Weight % is each long-equity position ÷ full 13F AUM, so rows may not sum to 100% when the filing includes options or other non-equity (excluded from this table). Share change and $ change are vs 2021 Q3. Click a column header to sort, or New, Hold, Add or Reduce to bring those moves to the top. Exit opens the last-held block below.

Filings history

20 periods, with AUM normalized

Newest 13Fs
Period Holds AUM QoQ Form Filed Filing ID
2026 Q2 24 $34.4B +8.7% 13F-HR 8/14/2026 000110465926097175
2026 Q1 22 $31.7B −10.4% 13F-HR 5/15/2026 000110465926062592
2025 Q4 23 $35.4B −3.3% 13F-HR 2/17/2026 000110465926016458
2025 Q3 23 $36.6B −23.4% 13F-HR 11/14/2025 000110465925112544
2025 Q2 25 $47.8B +14.3% 13F-HR 8/14/2025 000110465925078647
2025 Q1 25 $41.8B −0.5% 13F-HR 5/15/2025 000110465925049456
2024 Q4 24 $42B −6.8% 13F-HR 2/14/2025 000110465925014123
2024 Q3 24 $45.1B −5.4% 13F-HR 11/14/2024 000110465924119000
2024 Q2 23 $47.7B +3.9% 13F-HR 8/14/2024 000110465924089650
2024 Q1 24 $45.9B +8.5% 13F-HR 5/15/2024 000110465924061949
2023 Q4 24 $42.3B +8.7% 13F-HR 2/14/2024 000110465924023662
2023 Q3 74 $38.9B −7.5% 13F-HR 11/14/2023 000110465923118104
2023 Q2 23 $42.1B +15.4% 13F-HR 8/14/2023 000110465923091369
2023 Q1 22 $36.5B +2.1% 13F-HR 5/15/2023 000110465923060842
2022 Q4 23 $35.7B +5.1% 13F-HR 2/14/2023 000110465923021739
2022 Q3 21 $34B +92.2% 13F-HR 11/14/2022 000110465922118573
2022 Q2 20 $17.7B −10.5% 13F-HR 8/15/2022 000110465922091260
2022 Q1 18 $19.8B −14.0% 13F-HR 5/16/2022 000110465922061355
2021 Q4 22 $23B −0.9% 13F-HR 2/14/2022 000110465922022859
2021 Q3 22 $23.2B — 13F-HR 11/15/2021 000110465921139188

About

Gates Foundation Trust

20 processed 13Fs on this site, 2021 Q3 to 2026 Q2

Location
Kirkland, WA
All SEC filings
View on sec.gov