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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

2023 Q1 2022 Q4, filed 15 May, long equity only

Download CSV Download Excel All activity
MSFT, Microsoft 31.05% Hold 39,264,670 $288.30 $11.3B — —
CNI, Canadian National Railway 17.74% Hold 54,826,786 $117.97 $6.5B — —
BRK.B, Berkshire Hathaway 16.67%, was 21.35% Reduce −20.3% 19,689,845 $308.77 $6.1B −5,000,000 −$1.5B
WM, Waste Management 15.77% Hold 35,234,344 $163.17 $5.7B — —
CAT, Caterpillar 4.62% Hold 7,353,614 $228.84 $1.7B — —
DE, Deere 4.44% Hold 3,917,693 $412.88 $1.6B — —
ECL, Ecolab 2.37% Hold 5,218,044 $165.53 $864M — —
KOF 1.37% Hold 6,214,719 $80.47 $500M — —
WMT, Walmart 1.22% Hold 3,020,859 $147.45 $445M — —
FDX, FedEx 0.96% Hold 1,534,362 $228.49 $351M — —
WCN, Waste Connections 0.82% Hold 2,149,175 $139.07 $299M — —
CCI, Crown Castle 0.52% Hold 1,420,072 $133.84 $190M — —
SDGR, Schrodinger 0.50% Hold 6,981,664 $26.33 $184M — —
CPNG, Coupang 0.41% Hold 9,248,045 $16.00 $148M — —
UPS 0.39% Hold 740,689 $193.99 $144M — —
MSGS, MSG Sports 0.32% Hold 592,406 $194.85 $115M — —
KHC, Kraft Heinz 0.28% Hold 2,622,600 $38.67 $101M — —
DHR, Danaher 0.26% Hold 373,000 $252.04 $94M — —
HRL, Hormel Foods 0.24% Hold 2,195,290 $39.88 $88M — —
ONON, On Holding 0.04% Hold 500,000 $31.03 $16M — —
CVNA, Carvana 0.01% Hold 520,000 $9.79 $5.1M — —
VRM, Vroom 0.01% Hold 2,500,000 $0.8987 $2.2M — —

Exits / last held

Gone since 2022 Q4, shown at their last reported size.

Stock % of portfolio Recent activity Shares Reported price* Value Share change $ change
Weber 0.06% Exit 0 $8.05 $20M −2,500,000 −$20M

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 2022 Q4. 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