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Gates Foundation Trust

Q4 2015 13F · by Michael Larson, CIO

As of
Dec 31, 2015
Filed
Feb 12, 2016
US stock
$16.7B · prev $17.2B
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%

Moves2 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 · 0.0% a year

  1. Low
  2. Moderate
  3. High

Top 5 positions80% of US stock

  1. BRK.B BERKSHIRE HATHAWAY Class B trimmed−1.11 pp trimmed−1.1158.9%
  2. WM Waste Management, Inc. held held6.0%
  3. CNI Canadian National Railway held held5.7%
  4. CAT Caterpillar Inc. held held4.6%
  5. WMT Walmart Inc. held held4.3%

Positions18 in this filing · 1 exited

BRK.BBERKSHIRE HATHAWAY Class B58.94%74,381,548$9.8Btrimmed−6%−1.11 pp11 q
WMWaste Management, Inc.5.97%18,633,672$994Mheld—11 q
CNICanadian National Railway5.74%17,126,874$957Mheld—11 q
CATCaterpillar Inc.4.59%11,260,857$765Mheld—11 q
WMTWalmart Inc.4.27%11,603,000$711Mheld—11 q
ECLEcolab, Inc.3.00%4,366,425$499Mheld—11 q
CCICrown Castle Inc.2.77%5,332,900$461Mheld—5 q
TVGrupo Televisa S.A.2.76%16,879,103$459Mheld—11 q
FDXFedEx Corporation2.70%3,024,999$451Mheld—11 q
KOFCoca-Cola FEMSA, S.A.B DE C.V2.64%6,214,719$440Mheld—11 q
UPSUnited Parcel Service, Inc. Class B2.61%4,525,329$435Mheld—5 q
WBAWalgreens Boots Alliance, Inc1.78%3,475,398$296Mheld—5 q
LBTYKLiberty Global Ltd. Class C0.89%3,639,349$148Mheld—11 q
ANAutoNation, Inc.0.68%1,898,716$113Mheld—11 q
LBTYALiberty Global Ltd. Class A0.54%2,119,515$90Mheld—11 q
ARCOArcos Dorados Holdings Inc.0.06%3,060,500$10Mheld—8 q
1LGEUSDLiberty Global PLC Lilac - C0.05%181,967$8Mheld—2 q
99998USDLiberty Global PLC Lilac - A0.03%105,975$4Mheld—2 q
BPBP p.l.c.—−6,134,939—exited−1.09 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