Gates Foundation Trust

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Gates Foundation Trust (Bill Gates / Michael Larson) reported 22 stock positions worth $31.7 billion. Its top holding was Berkshire Hathaway Class B (BRK.B) at 25.8% of the portfolio, followed by Waste Management (WM, 20.1%) and Canadian Natl Railway (CNI, 16.8%). Compared with Q4 2025, it sold out of 1 and reduced 2. The biggest sale was an exit from Microsoft (MSFT).

Most Recent 13F
Q2 2026
Notable People
Bill Gates / Michael Larson
Location
KIRKLAND, WA
CIK
0001166559
Portfolio Value
$31.7B (Q1 2026)
SEC Filing
0001104659-26-062592 ↗ filed May 15, 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 $31.7B Q1 2026 Q2 2026: $34.4B Q2 2026

Holdings 22 stocks · $31.7B
BRK.B Berkshire Hathaway Inc. Class B 25.80% 17,048,304 $8.2B Reduce -12.2%
WM Waste Management Inc. 20.06% 27,642,344 $6.4B Reduce -4.5%
CNI Canadian Natl Railway Co. 16.82% 51,826,786 $5.3B No change
CAT Caterpillar Inc. 14.22% 6,353,614 $4.5B No change
DE Deere & Co. 6.33% 3,557,378 $2.0B No change
ECL Ecolab Inc. 4.38% 5,218,044 $1.4B No change
WMT Walmart Inc. 3.29% 8,390,477 $1.0B No change
FDX FedEx Corp. 2.68% 2,384,362 $849.3M No change
KOF Coca-Cola Femsa Sab-SP ADR 1.91% 6,214,719 $606.2M No change
WCN Waste Connections Inc. 1.05% 2,039,175 $331.2M No change
MSGS Madison Square Garden Sports 0.60% 592,406 $190.4M No change
CPNG Coupang Inc. 0.55% 9,248,045 $174.6M No change
BUD Anheuser-Busch Inbev-SPN ADR 0.37% 1,703,000 $118.1M No change
PCAR Paccar Inc. 0.36% 1,000,000 $115.5M No change
WST West Pharmaceutical Services 0.35% 444,500 $111.4M No change
MCD McDonald's Corp. 0.33% 334,900 $104.1M No change
SDGR Schrodinger Inc. 0.25% 6,981,664 $79.3M No change
DHR Danaher Corp. 0.22% 373,000 $70.7M No change
KHC The Kraft Heinz Co. 0.18% 2,472,600 $55.6M No change
HRL Hormel Foods Corp. 0.15% 2,085,290 $47.2M No change
ONON On Holding AG Class A filed as ON HLDG AG 0.05% 500,000 $17.0M No change
VLTO Veralto Corp. 0.03% 124,333 $11.0M No change

Portfolio Sells Q4 2025 → Q1 2026
MSFT Microsoft Corp. Sold out 0.00% −10.52
BRK.B Berkshire Hathaway Inc. Class B Reduce -12.2% 25.80% −1.79
WM Waste Management Inc. Reduce -4.5% 20.06% +2.08

Portfolio Buys Q4 2025 → Q1 2026
None this quarter.

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