13F · As of Q2 2026 · filed 2026-08-14 · compared with Q1 2026

Gates Foundation Trust

Bill & Melinda Gates Foundation assets

Gates Foundation Trust reported 24 US-listed positions worth $34.4B at the end of Q2 2026. The top three — Berkshire Hathaway (21.4%), Caterpillar (19.7%), Canadian Natl Ry (18.0%) — make up 59.0% of the portfolio. Against Q1 2026 it opened 2 new positions, sold out of 0, added to 0 and trimmed 2.

$34.4BReported value
24Positions
2 / 0New / Sold out

New positions

2
SecurityTickerValue ($)WeightSharesvs prior quarter
Home DepotHD 353M1.02%1,000,000 New
Fedex Fght HldgFDXF 180M0.52%1,192,181 New

Trimmed

2
SecurityTickerValue ($)WeightSharesvs prior quarter
Berkshire HathawayBRK-B 7.4B21.4%14,689,844 ▼ 14%
Waste MgmtWM 6.0B17.3%26,720,744 ▼ 3%

All holdings

24
CSV ↓
SecurityTickerValue ($)WeightSharesvs prior quarter
Berkshire HathawayBRK-B 7.4B21.4%14,689,844 ▼ 14%
CaterpillarCAT 6.8B19.7%6,353,614 –
Canadian Natl RyCNI 6.2B18.0%51,826,786 –
Waste MgmtWM 6.0B17.3%26,720,744 ▼ 3%
Deere &DE 2.3B6.56%3,557,378 –
EcolabECL 1.5B4.22%5,218,044 –
WalmartWMT 950M2.76%8,390,477 –
FedexFDX 747M2.17%2,384,362 –
Coca-Cola Femsa Sab De CvKOF 660M1.92%6,214,719 –
Home DepotHD 353M1.02%1,000,000 New
Waste ConnectionsWCN 340M0.99%2,039,175 –
Madison Square Grdn Sprt CorMSGS 238M0.69%592,406 –
Fedex Fght HldgFDXF 180M0.52%1,192,181 New
CoupangCPNG 161M0.47%9,248,045 –
West Pharmaceutical SvscWST 160M0.46%444,500 –
Anheuser Busch InbevBUD 140M0.41%1,703,000 –
PaccarPCAR 120M0.35%1,000,000 –
SchrodingerSDGR 113M0.33%6,981,664 –
McdonaldsMCD 90.5M0.26%334,900 –
DanaherDHR 71.0M0.21%373,000 –
Kraft HeinzKHC 58.4M0.17%2,472,600 –
Hormel FoodsHRL 51.8M0.15%2,085,290 –
OOn Hldg— 17.7M0.05%500,000 –
VeraltoVLTO 11.0M0.03%124,333 –
Top 10 holdings by weight · Q2 2026
Berkshir…21.4%Caterpil…19.7%Canadian…18.0%Waste Mg…17.3%Deere &6.56%Ecolab4.22%Walmart2.76%Fedex2.17%Coca-Col…1.92%Home Dep…1.02%

If you had bought then

Q1 2026 → Q2 2026

Bought Gates Foundation Trust's top 10 holdings at the end of Q1 2026, in its weights, and they were +11.4% by the end of Q2 2026. The S&P 500 ETF (SPY) moved +14.8% over the same dates.

+11.4%Top 10, weighted
+14.8%S&P 500 (SPY)
-3.4%pDifference
StockWeightQ1 2026 endQ2 2026 endChange
Berkshire Hathaway
26.7%$479.20$500.39+4.4%
Waste Mgmt
20.8%$229.79$222.88-3.0%
Canadian Natl Ry
17.4%$102.68$119.24+16.1%
Caterpillar
14.7%$708.46$1064.90+50.3%
Deere &
6.55%$563.30$634.33+12.6%
Ecolab
4.54%$266.02$278.61+4.7%
Walmart
3.41%$124.28$113.26-8.9%
Fedex
2.78%$356.18$313.13-12.1%
Coca-Cola Femsa Sab De Cv
1.98%$97.55$106.25+8.9%
Waste Connections
1.08%$162.44$166.69+2.6%

Prices are the quarter-end values reported in 13F filings (value ÷ shares, median across tracked filers), adjusted for confirmed splits; dividends excluded. 13F shows only quarter-end holdings, so this is not the investor's actual return. Past performance does not indicate future results.

Questions

What is Gates Foundation Trust's largest holding?

Berkshire Hathaway, 21.4% of reported US holdings ($7.4B) at the end of Q2 2026.

What did Gates Foundation Trust buy last quarter?

2 new positions, largest: Home Depot, Fedex Fght Hldg.

What did Gates Foundation Trust sell out of?

None.

How current is this data?

It is Gates Foundation Trust's Form 13F for the quarter ending 2026-06-30, filed 2026-08-14. 13F filings are due 45 days after quarter end and list US-listed long positions only.

Restated and computed from SEC (13F, 13D/G, Form 4) and DART filings and NPS public data. Filings describe a past date and may differ from current holdings (13F: quarter end, up to 45 days later). Not investment advice.
Sources: SEC EDGAR, DART, data.go.kr (NPS), OpenFIGI. See Methodology for how figures are computed.