Gates Foundation Trust

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Gates Foundation Trust (Bill Gates / Michael Larson) reported 24 stock positions worth $34.4 billion. Its top holding was Berkshire Hathaway Class B (BRK.B) at 21.4% of the portfolio, followed by Caterpillar (CAT, 19.7%) and Canadian Natl Railway (CNI, 18.0%). Compared with Q1 2026, it opened 1 new position and reduced 2. The biggest buy was a new position in Home Depot (HD) and the biggest sale Berkshire Hathaway Class B (BRK.B, shares −14%).

Most Recent 13F
Q2 2026
Notable People
Bill Gates / Michael Larson
Location
KIRKLAND, WA
CIK
0001166559
Portfolio Value
$34.4B (Q2 2026)
SEC Filing
0001104659-26-097175 ↗ filed Aug 14, 2026

Holdings Value

0$10.0B$20.0B$30.0B$40.0B$50.0B Q1 2024: $45.9B Q1 2024 Q2 2024: $47.7B Q2 2024 Q3 2024: $45.1B Q3 2024 Q4 2024: $42.0B Q4 2024 Q1 2025: $41.8B Q1 2025 Q2 2025: $47.8B Q2 2025 Q3 2025: $36.6B Q3 2025 Q4 2025: $35.4B Q4 2025 Q1 2026: $31.7B Q1 2026 Q2 2026: $34.4B $34.4B Q2 2026

Holdings 24 stocks · $34.4B
BRK.B Berkshire Hathaway Inc. Class B 21.35% 14,689,844 $7.4B Reduce -13.8%
CAT Caterpillar Inc. 19.65% 6,353,614 $6.8B No change
CNI Canadian Natl Railway Co. 17.95% 51,826,786 $6.2B No change
WM Waste Management Inc. 17.30% 26,720,744 $6.0B Reduce -3.3%
DE Deere & Co. 6.55% 3,557,378 $2.3B No change
ECL Ecolab Inc. 4.22% 5,218,044 $1.5B No change
WMT Walmart Inc. 2.76% 8,390,477 $950.3M No change
FDX FedEx Corp. 2.17% 2,384,362 $746.6M No change
KOF Coca-Cola Femsa Sab-SP ADR 1.92% 6,214,719 $660.3M No change
HD Home Depot Inc. 1.02% 1,000,000 $352.7M New
WCN Waste Connections Inc. 0.99% 2,039,175 $339.9M No change
MSGS Madison Square Garden Sports 0.69% 592,406 $238.1M No change
FDXF FedEx Freight Holding Co. 0.52% 1,192,181 $180.0M No change
CPNG Coupang Inc. 0.47% 9,248,045 $160.6M No change
WST West Pharmaceutical Services 0.46% 444,500 $159.6M No change
BUD Anheuser-Busch Inbev-SPN ADR 0.41% 1,703,000 $140.3M No change
PCAR Paccar Inc. 0.35% 1,000,000 $120.1M No change
SDGR Schrodinger Inc. 0.33% 6,981,664 $113.5M No change
MCD McDonald's Corp. 0.26% 334,900 $90.5M No change
DHR Danaher Corp. 0.21% 373,000 $71.0M No change
KHC The Kraft Heinz Co. 0.17% 2,472,600 $58.4M No change
HRL Hormel Foods Corp. 0.15% 2,085,290 $51.8M No change
ONON On Holding AG Class A filed as ON HLDG AG 0.05% 500,000 $17.7M No change
VLTO Veralto Corp. 0.03% 124,333 $11.0M No change

Portfolio Sells Q1 2026 → Q2 2026
BRK.B Berkshire Hathaway Inc. Class B Reduce -13.8% 21.35% −4.45
WM Waste Management Inc. Reduce -3.3% 17.30% −2.76

Portfolio Buys Q1 2026 → Q2 2026
HD Home Depot Inc. New 1.02% +1.02

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 24$34.4BBRK.B, CAT, CNI, WM, DE
Q1 2026 22$31.7BBRK.B, WM, CNI, CAT, DE
Q4 2025 23$35.4BBRK.B, WM, CNI, MSFT, CAT
Q3 2025 23$36.6BBRK.B, WM, CNI, MSFT, CAT
Q2 2025 25$47.8BMSFT, BRK.B, WM, CNI, CAT
Q1 2025 25$41.8BMSFT, BRK.B, WM, CNI, CAT
Q4 2024 24$42.0BMSFT, BRK.B, WM, CNI, CAT
Q3 2024 24$45.1BMSFT, BRK.B, WM, CNI, CAT
Q2 2024 23$47.7BMSFT, BRK.B, WM, CNI, CAT
Q1 2024 24$45.9BMSFT, WM, BRK.B, CNI, CAT