GF

Gates Foundation Trust

Sector-focusedQuality / disciplined sizingConcentrated strategy

Total reported value

$31.7B

Reporting period: 2026-03-31 · Number of holdings: 22

GATES FOUNDATION TRUST disclosed 22 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $31.7B and a quarterly turnover rate of 21.6%.

Personality snowflake

Concentration
65.46
Portfolio Stability
21.59
Momentum/Contrarian
50
Sector conviction
100
Diversification
44
Sizing Uniformity
83.5

Recent moves

  • Add CAT

    0.0%　$861.5M

  • Add CNI

    0.0%　$203.2M

  • Add WM

    -4.5%　-$5.2M

  • Trim BRK-B

    -12.2%　-$1.6B

  • Add DE

    0.0%　$347.7M

  • Add FDX

    0.0%　$160.5M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#TickerIssuerAsset SubclassWeightWeight ChangeShares Change4Q Trend
1BRK-BBerkshire Hathaway Inc-cl BStock-Other25.80%-1.79%-12.15%
2WMWaste Management INCStock-Industrials20.06%+2.08%-4.47%
3CNICanadian Natl Railway CoStock-Industrials16.82%+2.33%—
4CATCaterpillar INCStock-Industrials14.22%+3.93%—
5DEDeere & CoStock-Industrials6.33%+1.65%—
6ECLEcolab INCStock-Materials4.38%+0.51%—
7WMTWalmart INCStock-Consumer Staples3.29%+0.65%—
8FDXFedex CORPStock-Industrials2.68%+0.73%—
9KOFCoca-cola Femsa Sab-sp AdrStock-Other1.91%+0.25%—
10WCNWaste Connections INCStock-Industrials1.05%+0.04%—
11MSGSMadison Square Garden SportsStock-Comm Services0.60%+0.17%—
12CPNGCoupang INCStock-Consumer Disc0.55%-0.07%—
13BUDAnheuser-busch Inbev-spn AdrStock-Consumer Staples0.37%+0.06%—
14PCARPaccar INCStock-Industrials0.36%+0.05%—
15WSTWest Pharmaceutical ServicesStock-Healthcare0.35%——
16MCDMcdonald's CORPStock-Consumer Disc0.33%+0.04%—
17SDGRSchrodinger INCStock-Other0.25%-0.10%—
18DHRDanaher CORPStock-Healthcare0.22%-0.02%—
19KHCKraft Heinz Co/theStock-Consumer Staples0.18%+0.01%—
20HRLHormel Foods CORPStock-Consumer Staples0.15%+0.01%—
21✓ On Hldg AGStock-Other0.05%-0.02%—
22VLTOVeralto CORPStock-Industrials0.03%-0.01%—

Holding changes this quarter

Gates Foundation Trust's most significant position changes for 2026-03-31: Sold out: Microsoft CORP (MSFT); Trim: Waste Management INC (WM) — shares -4.47%; Trim: Berkshire Hathaway Inc-cl B (BRK-B) — shares -12.15%.

Position changes disclosed by Gates Foundation Trust for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#TickerIssuerWeight ChangeShares ChangeAction
1CATCaterpillar INC+3.9%—Unchanged
2CNICanadian Natl Railway Co+2.3%—Unchanged
3WMWaste Management INC+2.1%-4.47%Trim
4DEDeere & Co+1.7%—Unchanged
5FDXFedex CORP+0.7%—Unchanged
6WMTWalmart INC+0.7%—Unchanged
7ECLEcolab INC+0.5%—Unchanged
8KOFCoca-cola Femsa Sab-sp Adr+0.3%—Unchanged
9MSGSMadison Square Garden Sports+0.2%—Unchanged
10BUDAnheuser-busch Inbev-spn Adr+0.1%—Unchanged
11PCARPaccar INC+0.1%—Unchanged
12WCNWaste Connections INC0%—Unchanged
13MCDMcdonald's CORP0%—Unchanged
14KHCKraft Heinz Co/the0%—Unchanged
15HRLHormel Foods CORP0%—Unchanged
16WSTWest Pharmaceutical Services——Unchanged
17VLTOVeralto CORP0%—Unchanged
18DHRDanaher CORP0%—Unchanged
19✓ On Hldg AG0%—Unchanged
20CPNGCoupang INC-0.1%—Unchanged
21SDGRSchrodinger INC-0.1%—Unchanged
22BRK-BBerkshire Hathaway Inc-cl B-1.8%-12.15%Trim
23MSFTMicrosoft CORP—EXITSold out

FAQ

What is Gates Foundation Trust and what type of investor is it?
Gates Foundation Trust is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $31.7B, spread across 22 disclosed positions.
What are Gates Foundation Trust's largest equity positions?
Based on the latest 13F filing, Gates Foundation Trust's top holdings by market value are: 1. Berkshire Hathaway Inc-cl B (BRK-B) — $8.2B (25.8%) 2. Waste Management INC (WM) — $6.4B (20.1%) 3. Canadian Natl Railway Co (CNI) — $5.3B (16.8%) 4. Caterpillar INC (CAT) — $4.5B (14.2%) 5. Deere & Co (DE) — $2.0B (6.3%)
What changes did Gates Foundation Trust make in its most recent portfolio filing?
In the latest quarter, Gates Foundation Trust took a more defensive posture — trimming 2 positions and completely exiting 1 holdings. The largest of these moves: Sold out: Microsoft CORP (MSFT); Trim: Waste Management INC (WM) — shares -4.47%; Trim: Berkshire Hathaway Inc-cl B (BRK-B) — shares -12.15%
What sectors does Gates Foundation Trust focus on?
Gates Foundation Trust is concentrated in the following sectors based on its current disclosed equity portfolio: • Industrials: 63.0% • Financials: 26.4% • Materials: 4.5% • Consumer Staples: 4.1% • Consumer Discretionary: 0.9% • Communication Services: 0.6%