Bill & Melinda Gates Foundation
Bill & Melinda Gates Foundation Trust
Gates Foundation investment trust
$34.42B
Portfolio Value
24
Holdings
Q2 '26
Period
2026-08-14
Filed
About Bill & Melinda Gates Foundation
The Bill & Melinda Gates Foundation Trust manages the endowment of the world's largest private charitable foundation. The trust's investment portfolio, overseen by Michael Larson at Cascade Investment, supports the foundation's philanthropic mission in global health, education, and poverty alleviation.
Investment Philosophy
Long-term, diversified investment approach managed by Cascade Investment (Michael Larson). Focuses on preserving capital while generating returns to fund the foundation's charitable activities. Holds concentrated positions in a few high-conviction stocks alongside diversified holdings across asset classes.
Notable Facts
- •Largest private charitable foundation in the world
- •Investment portfolio managed by Michael Larson at Cascade Investment
- •Historically concentrated in Berkshire Hathaway and Microsoft
- •Warren Buffett has donated the majority of his wealth to this foundation
Simulated 13F Return
Total Return
+19.46%
Q4 '24 → Q3 '25
Annualized
+26.86%/yr
S&P: +18.77%/yr
Alpha (vs S&P)
+5.74%
3 quarters tracked
1-Year Return
—
⚠️ Approximation only. 13F filings are delayed ~45 days. Options, shorts, and intra-quarter trades not captured.
📈 Recent Activity
Changes from previous quarter
📊 Sector Breakdown
Portfolio allocation by sector
💼 Holdings
24 of 24 positions · $34.42B
This quarter: 2 new positions, reduced 2. Balanced activity.
| # | Stock | % Portfolio▼ | Activity | Shares | Reported Price | Value | Current Price | +/- Reported | 52w Low | 52w High | SEC | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | BRK.BBerkshire Hathaway Inc. Class B | 21.4% | Reduce 13.83% | 14689844 | $500.39 | $7.35B | — | — | — | — | 📄 | |
| 2 | CATCATERPILLAR INC | 19.7% | Held | 6353614 | $1064.90 | $6.77B | — | — | — | — | 📄 | |
| 3 | CNICANADIAN NATL RY CO | 18.0% | Held | 51826786 | $119.24 | $6.18B | — | — | — | — | 📄 | |
| 4 | WMWASTE MGMT INC DEL | 17.3% | Reduce 3.33% | 26720744 | $222.88 | $5.96B | — | — | — | — | 📄 | |
| 5 | DEDEERE & CO | 6.6% | Held | 3557378 | $634.33 | $2.26B | — | — | — | — | 📄 | |
| 6 | ECLECOLAB INC | 4.2% | Held | 5218044 | $278.61 | $1.45B | — | — | — | — | 📄 | |
| 7 | WMTWALMART INC | 2.8% | Held | 8390477 | $113.26 | $950.3M | — | — | — | — | 📄 | |
| 8 | FDXFEDEX CORP | 2.2% | Held | 2384362 | $313.13 | $746.6M | — | — | — | — | 📄 | |
| 9 | KOFCoca-Cola FEMSA | 1.9% | Held | 6214719 | $106.25 | $660.3M | — | — | — | — | 📄 | |
| 10 | HDHOME DEPOT INC | 1.0% | Buy | 1000000 | $352.68 | $352.7M | — | — | — | — | 📄 | |
| 11 | WCNWASTE CONNECTIONS INC | 1.0% | Held | 2039175 | $166.69 | $339.9M | — | — | — | — | 📄 | |
| 12 | MSGSMADISON SQUARE GRDN SPRT COR | 0.7% | Held | 592406 | $401.84 | $238.1M | — | — | — | — | 📄 | |
| 13 | FDXFFEDEX FGHT HLDG CO INC | 0.5% | Buy | 1192181 | $151.00 | $180.0M | — | — | — | — | 📄 | |
| 14 | CPNGCOUPANG INC | 0.5% | Held | 9248045 | $17.37 | $160.6M | — | — | — | — | 📄 | |
| 15 | WSTWEST PHARMACEUTICAL SVSC INC | 0.5% | Held | 444500 | $359.00 | $159.6M | — | — | — | — | 📄 | |
| 16 | BUDFFANHEUSER BUSCH INBEV SA NV | 0.4% | Held | 1703000 | $82.40 | $140.3M | — | — | — | — | 📄 | |
| 17 | PCARPACCAR INC | 0.3% | Held | 1000000 | $120.12 | $120.1M | — | — | — | — | 📄 | |
| 18 | SDGRSCHRODINGER INC | 0.3% | Held | 6981664 | $16.25 | $113.5M | — | — | — | — | 📄 | |
| 19 | MCDMCDONALDS CORP | 0.3% | Held | 334900 | $270.31 | $90.5M | — | — | — | — | 📄 | |
| 20 | DHRDANAHER CORP DEL | 0.2% | Held | 373000 | $190.48 | $71.0M | — | — | — | — | 📄 | |
| 21 | KHCKRAFT HEINZ CO | 0.2% | Held | 2472600 | $23.62 | $58.4M | — | — | — | — | 📄 | |
| 22 | HRLHORMEL FOODS CORP | 0.2% | Held | 2085290 | $24.82 | $51.8M | — | — | — | — | 📄 | |
| 23 | ONONON HLDG AG | 0.1% | Held | 500000 | $35.42 | $17.7M | — | — | — | — | 📄 | |
| 24 | VLTOVERALTO CORP | <0.1% | Held | 124333 | $88.68 | $11.0M | — | — | — | — | 📄 |