Gates Foundation · 13F portfolio
Gates Foundation Trust’s portfolio
The trust that holds the endowment of the Gates Foundation, the charity set up by Bill Gates. From the 13F reports it has filed with the SEC since Q2 2013.
Portfolio value · June 30, 2026
$34.4B+8.7% vs Q1 2026
24 holdings, reported August 14, 2026: 45 days after the quarter end.
Five largest holdings
Changes in Q2 202682.8%
of the portfolio: Berkshire Hathaway, Caterpillar, Canadian National Railway, Waste Management, Deere
2 New0 Added2 Reduced0 Sold out
Biggest move: Berkshire Hathaway, reduced, ≈ −$1.18B
Value on June 30, 2013
$17.8B
53 quarterly reports in all
Report for Q2 2026, filed August 14, 2026: the filing on EDGAR.
NewAddedUnchangedReduced
What changed in Q2 2026
Against the report for Q1 2026. Share counts are compared on the same basis after stock splits. Amounts are approximate: the change in shares times the price at the quarter end (for a position sold out, its value at the end of Q1 2026).
| Company | Move | Shares bought or sold | Change | ≈ Amount | Shares now |
|---|---|---|---|---|---|
| Berkshire Hathaway Class B | Reduced | −2,358,460 | −13.8% | −$1.18B | 14,689,844 |
 Home Depot HD | New | +1,000,000 | new | +$353M | 1,000,000 |
 Waste Management WM | Reduced | −921,600 | −3.3% | −$205M | 26,720,744 |
| FedEx Freight | New | +1,192,181 | new | +$180M | 1,192,181 |
All holdings on June 30, 2026
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway Class B | 14,689,844 | $7.35B | 21.4% | −13.8% |
| 2 |  Caterpillar CAT | 6,353,614 | $6.77B | 19.7% | — |
| 3 | Canadian National Railway CNI | 51,826,786 | $6.18B | 18.0% | — |
| 4 | Waste Management WM | 26,720,744 | $5.96B | 17.3% | −3.3% |
| 5 |  Deere DE | 3,557,378 | $2.26B | 6.6% | — |
| 6 |  Ecolab ECL | 5,218,044 | $1.45B | 4.2% | — |
| 7 |  Walmart WMT | 8,390,477 | $950M | 2.8% | — |
| 8 |  FedEx FDX | 2,384,362 | $747M | 2.2% | — |
| 9 | Coca-Cola Femsa KOF ADR | 6,214,719 | $660M | 1.9% | — |
| 10 | Home Depot HD | 1,000,000 | $353M | 1.0% | new |
| 11 | Waste Connections WCN | 2,039,175 | $340M | 1.0% | — |
| 12 | Madison Square GRDN SPRT MSGS Class A | 592,406 | $238M | 0.7% | — |
| 13 | FedEx Freight | 1,192,181 | $180M | 0.5% | new |
| 14 | Coupang CPNG Class A | 9,248,045 | $161M | 0.5% | — |
| 15 | West Pharmaceutical Services | 444,500 | $160M | 0.5% | — |
| 16 | Anheuser Busch Inbev BUD ADR | 1,703,000 | $140M | 0.4% | — |
| 17 |  Paccar PCAR | 1,000,000 | $120M | 0.3% | — |
| 18 | Schrodinger SDGR | 6,981,664 | $113M | 0.3% | — |
| 19 |  McDonald's MCD | 334,900 | $90.5M | 0.3% | — |
| 20 |  Danaher DHR | 373,000 | $71M | 0.2% | — |
| 21 |  Kraft Heinz KHC | 2,472,600 | $58.4M | 0.2% | — |
| 22 |  Hormel Foods HRL | 2,085,290 | $51.8M | 0.2% | — |
| 23 | On Holding ONON | 500,000 | $17.7M | 0.1% | — |
| 24 | Veralto | 124,333 | $11M | 0.0% | — |
Names link to a company page where this site has one (S&P 500 companies, with their financials from SEC filings). ◆ a position kept confidential at first and reported later. Principal amounts (notes and bonds) are marked “principal”.
Portfolio value by quarter
The market value of the holdings in every report since Q2 2013: $17.8B then, $34.4B on June 30, 2026. It rises and falls with prices as much as with buying and selling.
Every quarter in numbers
| Quarter end | Value | Holdings | Largest holding | Filed |
|---|---|---|---|---|
| Jun 30, 2026 | $34.4B | 24 | Berkshire Hathaway 21.4% | Aug 14, 2026 |
| Mar 31, 2026 | $31.7B | 22 | Berkshire Hathaway 25.8% | May 15, 2026 |
| Dec 31, 2025 | $35.4B | 23 | Berkshire Hathaway 27.6% | Feb 17, 2026 |
| Sep 30, 2025 | $36.6B | 23 | Berkshire Hathaway 29.9% | Nov 14, 2025 |
| Jun 30, 2025 | $47.8B | 25 | Microsoft 27.3% | Aug 14, 2025 |
| Mar 31, 2025 | $41.8B | 25 | Microsoft 25.6% | May 15, 2025 |
| Dec 31, 2024 | $42B | 24 | Microsoft 28.5% | Feb 14, 2025 |
| Sep 30, 2024 | $45.1B | 24 | Microsoft 27.6% | Nov 14, 2024 |
| Jun 30, 2024 | $47.7B | 23 | Microsoft 32.7% | Aug 14, 2024 |
| Mar 31, 2024 | $45.9B | 24 | Microsoft 33.5% | May 15, 2024 |
| Dec 31, 2023 | $42.3B | 24 | Microsoft 34.0% | Feb 14, 2024 |
| Sep 30, 2023 | $38.9B | 74 | Microsoft 31.9% | Nov 14, 2023 |
| Jun 30, 2023 | $42.1B | 23 | Microsoft 31.8% | Aug 14, 2023 |
| Mar 31, 2023 | $36.5B | 22 | Microsoft 31.0% | May 15, 2023 |
| Dec 31, 2022 | $35.7B | 23 | Microsoft 26.4% | Feb 14, 2023 |
| Sep 30, 2022 | $34B | 21 | Microsoft 26.9% | Nov 14, 2022 |
| Jun 30, 2022 | $17.7B | 20 | Berkshire Hathaway 53.6% | Aug 15, 2022 |
| Mar 31, 2022 | $19.8B | 18 | Berkshire Hathaway 51.2% | May 16, 2022 |
| Dec 31, 2021 | $23B | 22 | Berkshire Hathaway 43.8% | Feb 14, 2022 |
| Sep 30, 2021 | $23.2B | 22 | Berkshire Hathaway 45.5% | Nov 15, 2021 |
| Jun 30, 2021 | $23.9B | 15 | Berkshire Hathaway 50.9% | Aug 16, 2021 |
| Mar 31, 2021 | $21B | 17 | Berkshire Hathaway 45.2% | May 17, 2021 |
| Dec 31, 2020 | $22.3B | 21 | Berkshire Hathaway 43.7% | Feb 12, 2021 |
| Sep 30, 2020 | $22.1B | 24 | Berkshire Hathaway 45.4% | Nov 16, 2020 |
| Jun 30, 2020 | $17.9B | 23 | Berkshire Hathaway 39.9% | Aug 14, 2020 |
| Mar 31, 2020 | $17.4B | 23 | Berkshire Hathaway 47.3% | May 15, 2020 |
| Dec 31, 2019 | $21.4B | 16 | Berkshire Hathaway 52.9% | Feb 14, 2020 |
| Sep 30, 2019 | $21.2B | 18 | Berkshire Hathaway 53.8% | Nov 14, 2019 |
| Jun 30, 2019 | $19.8B | 16 | Berkshire Hathaway 50.6% | Aug 14, 2019 |
| Mar 31, 2019 | $20.9B | 18 | Berkshire Hathaway 50.1% | May 15, 2019 |
| Dec 31, 2018 | $21.9B | 19 | Berkshire Hathaway 53.2% | Feb 14, 2019 |
| Sep 30, 2018 | $25.8B | 19 | Berkshire Hathaway 51.5% | Nov 14, 2018 |
| Jun 30, 2018 | $22.1B | 19 | Berkshire Hathaway 45.2% | Aug 14, 2018 |
| Mar 31, 2018 | $24.5B | 19 | Berkshire Hathaway 47.8% | May 15, 2018 |
| Dec 31, 2017 | $26.5B | 19 | Berkshire Hathaway 47.6% | Feb 14, 2018 |
| Sep 30, 2017 | $25.8B | 19 | Berkshire Hathaway 48.8% | Nov 14, 2017 |
| Jun 30, 2017 | $23.1B | 19 | Berkshire Hathaway 43.5% | Aug 14, 2017 |
| Mar 31, 2017 | $18.9B | 18 | Berkshire Hathaway 56.9% | May 15, 2017 |
| Dec 31, 2016 | $19B | 18 | Berkshire Hathaway 59.4% | Feb 14, 2017 |
| Sep 30, 2016 | $18.5B | 18 | Berkshire Hathaway 58.2% | Nov 14, 2016 |
| Jun 30, 2016 | $16.8B | 18 | Berkshire Hathaway 55.4% | Aug 15, 2016 |
| Mar 31, 2016 | $17.2B | 18 | Berkshire Hathaway 57.3% | May 13, 2016 |
| Dec 31, 2015 | $16.7B | 18 | Berkshire Hathaway 58.9% | Feb 12, 2016 |
| Sep 30, 2015 | $17.2B | 19 | Berkshire Hathaway 60.1% | Nov 13, 2015 |
| Jun 30, 2015 | $17B | 17 | Berkshire Hathaway 54.9% | Aug 14, 2015 |
| Mar 31, 2015 | $18.6B | 18 | Berkshire Hathaway 57.0% | May 15, 2015 |
| Dec 31, 2014 | $20B | 19 | Berkshire Hathaway 59.0% | Feb 13, 2015 |
| Sep 30, 2014 | $21.7B | 19 | Berkshire Hathaway 53.2% | Nov 14, 2014 |
| Jun 30, 2014 | $20B | 20 | Berkshire Hathaway 45.7% | Aug 14, 2014 |
| Mar 31, 2014 | $19.8B | 20 | Berkshire Hathaway 48.6% | May 15, 2014 |
| Dec 31, 2013 | $20.1B | 18 | Berkshire Hathaway 48.5% | Feb 14, 2014 |
| Sep 30, 2013 | $19.5B | 22 | Berkshire Hathaway 50.8% | Nov 14, 2013 |
| Jun 30, 2013 | $17.8B | 21 | Berkshire Hathaway 46.9% | Aug 14, 2013 |
Today’s largest holdings over time
The weight of each of the five largest holdings on June 30, 2026, quarter by quarter. A gap means it was not held then.
Berkshire Hathaway BRK-BCaterpillar CATCanadian National Railway CNIWaste Management WMDeere DE
Other investors
Berkshire HathawayWarren Buffett$299BQ2 2026
Pershing SquareBill Ackman$19.5BQ2 2026
Baupost GroupSeth Klarman$5.42BQ2 2026
Himalaya CapitalLi Lu$3.7BQ2 2026
Duquesne Family OfficeStanley Druckenmiller$4.35BQ2 2026
AppaloosaDavid Tepper$7.47BQ2 2026
Scion Asset ManagementMichael Burry$68.1MQ3 2025 No reports since Q3 2025
How these numbers are made
- Source: Form 13F-HR reports and their amendments (13F-HR/A) on SEC EDGAR. Holdings are read from the XML information tables of the reports. Those exist from the quarter to June 30, 2013; older reports are plain text and are not used here.
- Values were reported in thousands of dollars until the SEC’s change of January 3, 2023, and in dollars since; all are shown in dollars. Each report is checked by its value per share.
- A stock often takes several lines of a report, one per subsidiary or adviser that holds it. The lines are added up by CUSIP, the security’s identifier; options are kept apart.
- Amendments are applied in the order they were filed: a restatement replaces the quarter’s report, “new holdings” adds positions that had been kept confidential.
- Moves compare every holding with the previous report. After a stock split the earlier share count is converted to the new basis (splits of S&P 500 companies from their SEC filings, others from the value per share). The dollar amount of a move is the change in shares times the quarter-end price, so it only approximates what was paid or received.
- A stock whose CUSIP changes (after a merger or a reorganization) shows as sold under the old CUSIP and bought under the new one.
- Tickers come from the SEC’s fail-to-deliver data. A holding links to a company page here only when its CUSIP belongs to that S&P 500 company.
- Checked every night. Reports are due 45 days after each quarter ends: in mid-February, May, August and November.
- Not investment advice: by the time a 13F is public the position may be gone, and it is only part of what the investor owns.
Source: SEC EDGAR, Form 13F reports of GATES FOUNDATION TRUST; tickers from the SEC’s fail-to-deliver data.