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Bill Gates

Photo: Bogdan Hoyaux / European Union, CC BY 4.0, via Wikimedia Commons

Bill Gates

Gates Foundation Trust · Long-term concentrated endowment The trust that holds the Gates Foundation endowment is managed by Michael Larson's Cascade team as a concentrated, low-turnover portfolio of blue-chip equities.

The Gates Foundation Trust holds and invests the endowment behind the philanthropic foundation created by Bill Gates and Melinda French Gates, with investments overseen by Cascade Investment under Michael Larson.

Wikipedia ↗ source: sec.gov

$34.4B reported 13F equity 24 positions as of 2026Q2 13F: latest change 2026-08-14

Showing all 24 reported 13(f) positions; TradingPilot links only the 2 matching its curated universe — a licensed CUSIP↔ticker database was not used. Unmapped positions render as plain text, exactly as filed.

Portfolio allocation (reported 13F equity)

Long US-listed equity positions only; options excluded.

$34.4B13F equity
  • BERKSHIRE HATHAWAY INC DEL21.4%
  • CATERPILLAR INC19.7%
  • CANADIAN NATL RY CO18.0%
  • WASTE MGMT INC DEL17.3%
  • DE6.6%
  • ECOLAB INC4.2%
  • WMT2.8%
  • FEDEX CORP2.2%
  • COCA-COLA FEMSA SAB DE CV1.9%
  • HOME DEPOT INC1.0%
  • Others5.1%

Reported 13F equity value — not a return, not AUM

Long US-listed equity positions only; filed with a ~45-day lag.

2026Q1 — $31.4B reported 13F equity2026Q2 — $34.4B reported 13F equity$34.4B$31.4B2026Q12026Q2
#TickerSecurity (as filed) % of 13FShares Reported priceCurrentValueActivity
1 — BERKSHIRE HATHAWAY INC DEL 21.4% 14,689,844 $500.39 — $7.4B Trimmed −14%
2 — CATERPILLAR INC 19.7% 6,353,614 $1,064.90 — $6.8B Held +0%
3 — CANADIAN NATL RY CO 18.0% 51,826,786 $119.24 — $6.2B Held +0%
4 — WASTE MGMT INC DEL 17.3% 26,720,744 $222.88 — $6.0B Trimmed −3%
5 DE DEERE & CO 6.6% 3,557,378 $634.33 $660.00 +4.0% $2.3B Held +0%
6 — ECOLAB INC 4.2% 5,218,044 $278.61 — $1.5B Held +0%
7 WMT WALMART INC 2.8% 8,390,477 $113.26 $121.25 +7.1% $950.3M Held +0%
8 — FEDEX CORP 2.2% 2,384,362 $313.13 — $746.6M Held +0%
9 — COCA-COLA FEMSA SAB DE CV 1.9% 6,214,719 $106.25 — $660.3M Held +0%
10 — HOME DEPOT INC 1.0% 1,000,000 $352.68 — $352.7M New
11 — WASTE CONNECTIONS INC 1.0% 2,039,175 $166.69 — $339.9M Held +0%
12 — MADISON SQUARE GRDN SPRT COR 0.7% 592,406 $401.84 — $238.1M Held +0%
13 — FEDEX FGHT HLDG CO INC 0.5% 1,192,181 $151.00 — $180.0M New
14 — COUPANG INC 0.5% 9,248,045 $17.37 — $160.6M Held +0%
15 — WEST PHARMACEUTICAL SVSC INC 0.5% 444,500 $359.00 — $159.6M New
16 — ANHEUSER BUSCH INBEV SA NV 0.4% 1,703,000 $82.40 — $140.3M Held +0%
17 — PACCAR INC 0.3% 1,000,000 $120.12 — $120.1M Held +0%
18 — SCHRODINGER INC 0.3% 6,981,664 $16.25 — $113.5M New
19 — MCDONALDS CORP 0.3% 334,900 $270.31 — $90.5M Held +0%
20 — DANAHER CORP DEL 0.2% 373,000 $190.48 — $71.0M New
21 — KRAFT HEINZ CO 0.2% 2,472,600 $23.62 — $58.4M Held +0%
22 — HORMEL FOODS CORP 0.2% 2,085,290 $24.82 — $51.8M Held +0%
23 — ON HLDG AG 0.1% 500,000 $35.42 — $17.7M Held +0%
24 — VERALTO CORP 0.0% 124,333 $88.68 — $11.0M Held +0%

Reported price = value ÷ shares at the quarter-end — an average, NOT the manager's buy/sell price.

Current shows the stock's price change since the filing quarter-end (mapped names only) — it is the STOCK's move, not the manager's realized return (we don't know their cost basis or whether they still hold).

TradingPilot analysis of the reported 13F equity book

As of 2026Q2, Bill Gates's reported 13F book holds 24 equity positions; the top 5 are 83% of it.

  1. BERKSHIRE HATHAWAY INC DEL — 21.4% of 13F
  2. CATERPILLAR INC — 19.7% of 13F
  3. CANADIAN NATL RY CO — 18.0% of 13F
  4. WASTE MGMT INC DEL — 17.3% of 13F
  5. DEERE & CO (DE) — 6.6% of 13F

This quarter: 5 new, 0 added, 2 trimmed, 0 sold out.

Biggest share moves:
  • BERKSHIRE HATHAWAY INC DEL — Trimmed (−2,358,460 sh)
  • WASTE MGMT INC DEL — Trimmed (−921,600 sh)