FilingsTodayGates Foundation Trust
At a glance
The trust that manages the Bill & Melinda Gates Foundation's endowment. Its job is to fund the foundation's health and poverty work, so it holds a few large, established companies for long periods.
At the end of 2026 Q2, Gates Foundation Trust's 13F listed 24 US stocks worth $34.42B. The largest position was Berkshire Hathaway at 21.4% of the portfolio, and the top 10 made up 94.9%, a concentrated book. The five biggest holdings were Berkshire Hathaway ($7.35B), Caterpillar ($6.77B), Canadian Natl RY ($6.18B), Waste Management ($5.96B) and Deere & ($2.26B).
Against 2026 Q1, it opened 2 new positions and sold out of 0. The largest new positions were Home Depot ($352.7M) and FedEx Freight Holding Company ($180M). It trimmed Berkshire Hathaway (-13.8%) and Waste Management (-3.3%).
Over 8 quarters from 2024 Q3 to 2026 Q2, the reported portfolio went from $45.09B to $34.42B (-23.7%) and from 24 to 24 stocks. It was largest at 2025 Q2 ($47.78B). The largest holding changed over the period: MSFT and BRK-B. New positions and exits added up to 8 over these quarters.
Top 10 by weight
Quarter by quarter (last 8)
| Quarter | Total value | Stocks | New | Exited | Largest |
|---|---|---|---|---|---|
| 2026 Q2 | $34.42B | 24 | 2 | 0 | BRK-B |
| 2026 Q1 | $31.67B | 22 | 0 | 1 | BRK-B |
| 2025 Q4 | $35.36B | 23 | 0 | 0 | BRK-B |
| 2025 Q3 | $36.58B | 23 | 0 | 2 | BRK-B |
| 2025 Q2 | $47.78B | 25 | 0 | 0 | MSFT |
| 2025 Q1 | $41.81B | 25 | 1 | 0 | MSFT |
| 2024 Q4 | $42.02B | 24 | 1 | 1 | MSFT |
| 2024 Q3 | $45.09B | 24 | - | - | MSFT |
Holdings top 24
| Stock | Value | Weight | Share change |
|---|---|---|---|
| Berkshire Hathaway BRK-BReduced | $7.35B | 21.35% | -13.8% |
| Caterpillar CAT | $6.77B | 19.65% | 0.0% |
| Canadian Natl RY | $6.18B | 17.95% | 0.0% |
| Waste Management WMReduced | $5.96B | 17.30% | -3.3% |
| Deere & DE | $2.26B | 6.56% | 0.0% |
| Ecolab ECL | $1.45B | 4.22% | 0.0% |
| Walmart WMT | $950.3M | 2.76% | 0.0% |
| Fedex FDX | $746.6M | 2.17% | 0.0% |
| Coca Cola Femsa SAB DE CV KOF | $660.3M | 1.92% | 0.0% |
| Home Depot HDNew | $352.7M | 1.02% | New |
| Waste Connections WCN | $339.9M | 0.99% | 0.0% |
| Madison Square Garden Sports MSGS | $238.1M | 0.69% | 0.0% |
| FedEx Freight Holding Company FDXFNew | $180M | 0.52% | New |
| Coupang CPNG | $160.6M | 0.47% | 0.0% |
| West Pharmaceutical Svsc | $159.6M | 0.46% | 0.0% |
| Anheuser-Busch InBev BUD | $140.3M | 0.41% | 0.0% |
| Paccar PCAR | $120.1M | 0.35% | 0.0% |
| Schrodinger SDGR | $113.5M | 0.33% | 0.0% |
| Mcdonalds MCD | $90.5M | 0.26% | 0.0% |
| Danaher DHR | $71M | 0.21% | 0.0% |
| Kraft Heinz KHC | $58.4M | 0.17% | 0.0% |
| Hormel Foods HRL | $51.8M | 0.15% | 0.0% |
| E.on EONGY | $17.7M | 0.05% | 0.0% |
| Veralto VLTO | $11M | 0.03% | 0.0% |
Source: SEC Form 13F. Options and bonds are excluded; multiple lines for the same stock are combined. Stocks are matched by their SEC-registered names.