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Gates Foundation Trust Portfolio holdings
AUM
$34.4B
1-Year Est. Return
26.34%
This Fund
S&P 500
This Quarter
Est. Return
+1.27%
1 Year Est. Return
+26.34%
3 Year Est. Return
+71.93%
5 Year Est. Return
+109.95%
10 Year Est. Return
+387.54%
AUM
$36.6B
AUM Growth
-$11.2B
(-23%)
Cap. Flow
-$11.6B
Cap. Flow
% of AUM
-31.78%
Top 10 Holdings %
Top 10 Hldgs %
95.7%
Holding
25
New
–
Increased
–
Reduced
10
Closed
2
Top Buys
No buys this quarter
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$8.67B |
| 2 |
Berkshire Hathaway Class B
BRK.B
|
+$1.14B |
| 3 |
Waste Management
WM
|
+$743M |
| 4 |
Caterpillar
CAT
|
+$427M |
| 5 |
Canadian National Railway
CNI
|
+$289M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 46.38% |
| 2 | Financials | 29.91% |
| 3 | Technology | 13.01% |
| 4 | Consumer Staples | 4.37% |
| 5 | Materials | 3.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Berkshire Hathaway Class B
BRK.B
$1.08T
| $10.9B | 29.91% |
21,765,224
-2,358,460
| -10% | -$1.14B |
|
|
2
Waste Management
WM
$87.8B
| $6.39B | 17.47% |
28,934,344
-3,300,000
| -10% | -$743M |
|
|
3
Canadian National Railway
CNI
$76.2B
| $4.89B | 13.36% |
51,826,786
-3,000,000
| -5% | -$289M |
|
|
4
Microsoft
MSFT
$3.81T
| $4.76B | 13.01% |
9,191,207
-17,000,000
| -65% | -$8.67B |
|
|
5
Caterpillar
CAT
$368B
| $3.03B | 8.29% |
6,353,614
-1,000,000
| -14% | -$427M |
|
6
Deere & Co
DE
$170B
| $1.63B | 4.45% |
3,557,378
| – | – |
|
7
Ecolab
ECL
$80.4B
| $1.43B | 3.91% |
5,218,044
| – | – |
|
8
Walmart Inc
WMT
$820B
| $865M | 2.36% |
8,390,477
-700,000
| -8% | -$69.7M |
|
9
FedEx
FDX
$78.3B
| $562M | 1.54% |
2,384,362
-150,000
| -6% | -$34.6M |
|
10
Coca-Cola Femsa
KOF
$23.7B
| $516M | 1.41% |
6,214,719
| – | – |
|
|
WCN
11
Waste Connections
WCN
$41.7B
| $358M | 0.98% |
2,039,175
-110,000
| -5% | -$20M |
|
12
Coupang
CPNG
$29.7B
| $298M | 0.81% |
9,248,045
| – | – |
|
13
Schrodinger
SDGR
$1.47B
| $140M | 0.38% |
6,981,664
| – | – |
|
14
Madison Square Garden
MSGS
$9.38B
| $134M | 0.37% |
592,406
| – | – |
|
15
West Pharmaceutical
WST
$23.7B
| $117M | 0.32% |
444,500
| – | – |
|
16
McDonald's
MCD
$188B
| $102M | 0.28% |
334,900
| – | – |
|
17
AB InBev
BUD
$158B
| $102M | 0.28% |
1,703,000
| – | – |
|
18
PACCAR
PCAR
$66B
| $98.3M | 0.27% |
1,000,000
| – | – |
|
19
Danaher
DHR
$152B
| $74M | 0.2% |
373,000
| – | – |
|
20
Kraft Heinz
KHC
$30.5B
| $64.4M | 0.18% |
2,472,600
-150,000
| -6% | -$4.08M |
|
21
Hormel Foods
HRL
$11.9B
| $51.6M | 0.14% |
2,085,290
-110,000
| -5% | -$3.05M |
|
22
On Holding
ONON
$9.64B
| $21.2M | 0.06% |
500,000
| – | – |
|
23
Veralto
VLTO
$24B
| $13.3M | 0.04% |
124,333
| – | – |
|
24
Crown Castle
CCI
$32.4B
| – | – |
-1,420,072
| Closed | -$146M |
|
25
United Parcel Service
UPS
$89.6B
| – | – |
-755,089
| Closed | -$76.2M |
|
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Gates Foundation Trust's Q3 2025 Portfolio in Review
As of Q3 2025, Gates Foundation Trust held 25 positions worth $36.6B, down 23% from $47.8B the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Gates Foundation Trust withdrew a net $11.6B in Q3 2025, closing 2 positions and reducing 10 holdings. Its most notable exit was Crown Castle, an estimated $146M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 46% of assets, up from 40% a quarter earlier, followed by Financials and Technology.
- Gates Foundation Trust's biggest Q3 2025 reduction was Microsoft, cutting an estimated $8.67B.
- Gates Foundation Trust fully exited Crown Castle in Q3 2025, selling an estimated $146M.
- Gates Foundation Trust's ten largest holdings make up 96% of its $36.6B portfolio in Q3 2025.
- Gates Foundation Trust opened 0 new positions and closed 2 in Q3 2025.
- Gates Foundation Trust's portfolio value fell 23% quarter-over-quarter to $36.6B.
Based on Gates Foundation Trust's 13F filing for Q3 2025, filed 14 Nov 2025.