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Gates Foundation Trust

Q1 2015 13F · by Michael Larson, CIO

As of
Mar 31, 2015
Filed
May 15, 2015
US stock
$18.6B · prev $20.0B
Positions
18 · prev 19
Options notional
$0
Documents
1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

  • US stock listed on a US exchange 100.0%
  • Foreign stock not listed in the US 0.0%
  • Notes debt, at principal 0.0%
  • Puts at notional value 0.0%
  • Calls at notional value 0.0%

Moves3 since the prior filing

The book

Very concentrated · behaves like 3 equal-sized positions

  1. Very concentrated
  2. Concentrated
  3. Focused
  4. Diversified

Low turnover · 0.1% a year, more than 30 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions79% of US stock

  1. BRK.B BERKSHIRE HATHAWAY Class B trimmed−2.02 pp trimmed−2.0257.0%
  2. CNI Canadian National Railway held held6.2%
  3. WM Waste Management, Inc. held held5.4%
  4. WMT Walmart Inc. held held5.1%
  5. CAT Caterpillar Inc. held held4.8%

Positions18 in this filing · 1 exited

BRK.BBERKSHIRE HATHAWAY Class B57.02%73,625,314$10.6Btrimmed−6%−2.02 pp8 q
CNICanadian National Railway6.15%17,126,874$1.1Bheld—8 q
WMWaste Management, Inc.5.42%18,633,672$1.0Bheld—8 q
WMTWalmart Inc.5.12%11,603,000$954Mheld—8 q
CATCaterpillar Inc.4.84%11,260,857$901Mheld—8 q
TVGrupo Televisa S.A.2.99%16,879,103$557Mheld—8 q
FDXFedEx Corporation2.69%3,024,999$500Mheld—8 q
ECLEcolab, Inc.2.68%4,366,425$499Mheld—8 q
KOFCoca-Cola FEMSA, S.A.B DE C.V2.66%6,214,719$496Mheld—8 q
CCICrown Castle Inc.2.36%5,332,900$440Mheld—2 q
UPSUnited Parcel Service, Inc. Class B2.35%4,525,329$439Mheld—2 q
WBAWalgreens Boots Alliance, Inc1.58%3,475,398$294Mheld—2 q
BPBP p.l.c.1.55%7,405,614$290Mheld—8 q
LBTYKLiberty Global Ltd. Class C0.97%3,639,349$181Madded+3%+0.12 pp8 q
ANAutoNation, Inc.0.66%1,898,716$122Mheld—8 q
LBTYALiberty Global Ltd. Class A0.59%2,119,515$109Mheld—8 q
RSGRepublic Services Inc.0.29%1,350,000$55Mheld—8 q
ARCOArcos Dorados Holdings Inc.0.08%3,060,500$15Mheld—5 q
unresolvedDiamond Foods Inc—−10,412—exited0.00 pp—

Source

Form
13F-HR
Reading
0 defects · 0 unresolved
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet