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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
+2.74%
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
$35.4B
AUM Growth
-$1.22B
(-3.3%)
Cap. Flow
-$1.93B
Cap. Flow
% of AUM
-5.44%
Top 10 Holdings %
Top 10 Hldgs %
95.68%
Holding
23
New
–
Increased
–
Reduced
2
Closed
–
Avg Time Held
25.7
quarters
Top 10 Avg Time Held
35.2
quarters
Top 20 Avg Time Held
26.5
quarters
Top Buys
No buys this quarter
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Berkshire Hathaway Class B
BRK.B
|
+$1.17B |
| 2 |
Microsoft
MSFT
|
+$752M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 50.75% |
| 2 | Financials | 27.59% |
| 3 | Technology | 10.52% |
| 4 | Consumer Staples | 4.93% |
| 5 | Materials | 3.87% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Berkshire Hathaway Class B
BRK.B
$1.11T
| $9.75B | 27.59% |
19,406,764
-2,358,460
| -11% | -$1.17B |
2013 Q2
50 quarters
|
|
2
Waste Management
WM
$84.4B
| $6.36B | 17.98% |
28,934,344
| – | – |
2013 Q2
50 quarters
|
|
3
Canadian National Railway
CNI
$71.6B
| $5.12B | 14.49% |
51,826,786
| – | – |
2013 Q2
50 quarters
|
|
|
4
Microsoft
MSFT
$4.02T
| $3.72B | 10.52% |
7,691,207
-1,500,000
| -16% | -$752M |
2021 Q3
17 quarters
|
|
5
Caterpillar
CAT
$367B
| $3.64B | 10.29% |
6,353,614
| – | – |
2013 Q2
50 quarters
|
|
6
Deere & Co
DE
$171B
| $1.66B | 4.68% |
3,557,378
| – | – |
2021 Q3
17 quarters
|
|
7
Ecolab
ECL
$79.7B
| $1.37B | 3.87% |
5,218,044
| – | – |
2013 Q2
50 quarters
|
|
8
Walmart Inc
WMT
$897B
| $935M | 2.64% |
8,390,477
| – | – |
2013 Q2
50 quarters
|
|
9
FedEx
FDX
$69.2B
| $689M | 1.95% |
2,384,362
| – | – |
2013 Q2
50 quarters
|
|
10
Coca-Cola Femsa
KOF
$24B
| $589M | 1.66% |
6,214,719
| – | – |
2013 Q2
50 quarters
|
|
11
Waste Connections
WCN
$38.7B
| $358M | 1.01% |
2,039,175
| – | – |
2022 Q3
13 quarters
|
|
12
Coupang
CPNG
$27.5B
| $218M | 0.62% |
9,248,045
| – | – |
2021 Q1
19 quarters
|
|
13
Madison Square Garden
MSGS
$9.71B
| $153M | 0.43% |
592,406
| – | – |
2021 Q3
17 quarters
|
|
14
Schrodinger
SDGR
$1.94B
| $125M | 0.35% |
6,981,664
| – | – |
2020 Q1
23 quarters
|
|
15
West Pharmaceutical
WST
$25.9B
| $122M | 0.35% |
444,500
| – | – |
2025 Q1
3 quarters
|
|
16
PACCAR
PCAR
$56.9B
| $110M | 0.31% |
1,000,000
| – | – |
2024 Q3
5 quarters
|
|
17
AB InBev
BUD
$154B
| $109M | 0.31% |
1,703,000
| – | – |
2023 Q2
10 quarters
|
|
18
McDonald's
MCD
$167B
| $102M | 0.29% |
334,900
| – | – |
2024 Q4
4 quarters
|
|
19
Danaher
DHR
$156B
| $85.4M | 0.24% |
373,000
| – | – |
2022 Q4
12 quarters
|
|
20
The Kraft Heinz Company
KHC
$26.6B
| $60M | 0.17% |
2,472,600
| – | – |
2022 Q3
13 quarters
|
|
21
Hormel Foods
HRL
$10.6B
| $49.4M | 0.14% |
2,085,290
| – | – |
2022 Q4
12 quarters
|
|
22
On Holding
ONON
$11.8B
| $23.2M | 0.07% |
500,000
| – | – |
2021 Q3
17 quarters
|
|
23
Veralto
VLTO
$23.9B
| $12.4M | 0.04% |
124,333
| – | – |
2023 Q4
8 quarters
|
|
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Gates Foundation Trust's Q4 2025 Portfolio in Review
As of Q4 2025, Gates Foundation Trust held 23 positions worth $35.4B, down 3.3% from $36.6B the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Gates Foundation Trust withdrew a net $1.93B in Q4 2025, reducing 2 holdings. Its largest reduction was Berkshire Hathaway Class B, cutting an estimated $1.17B.
By sector, the portfolio is most concentrated in Industrials at 51% of assets, up from 46% a quarter earlier, followed by Financials and Technology.
- Gates Foundation Trust's biggest Q4 2025 reduction was Berkshire Hathaway Class B, cutting an estimated $1.17B.
- Gates Foundation Trust's ten largest holdings make up 96% of its $35.4B portfolio in Q4 2025.
- Gates Foundation Trust opened 0 new positions and closed 0 in Q4 2025.
- Gates Foundation Trust's portfolio value fell 3.3% quarter-over-quarter to $35.4B.
Based on Gates Foundation Trust's 13F filing for Q4 2025, filed 17 Feb 2026.