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Gates Foundation Trust

Q1 2016 13F · by Michael Larson, CIO

As of
Mar 31, 2016
Filed
May 13, 2016
US stock
$17.2B · prev $16.7B
Positions
18 · prev 18
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%

Moves4 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−1.67 pp trimmed−1.6757.3%
  2. WM Waste Management, Inc. held held6.4%
  3. CNI Canadian National Railway held held6.2%
  4. CAT Caterpillar Inc. held held5.0%
  5. WMT Walmart Inc. held held4.6%

Positions18 in this filing · 0 exited

BRK.BBERKSHIRE HATHAWAY Class B57.27%69,381,548$9.8Btrimmed−7%−1.67 pp12 q
WMWaste Management, Inc.6.40%18,633,672$1.1Bheld—12 q
CNICanadian National Railway6.22%17,126,874$1.1Bheld—12 q
CATCaterpillar Inc.5.01%11,260,857$862Mheld—12 q
WMTWalmart Inc.4.62%11,603,000$795Mheld—12 q
KOFCoca-Cola FEMSA, S.A.B DE C.V3.00%6,214,719$516Mheld—12 q
FDXFedEx Corporation2.86%3,024,999$492Mheld—12 q
ECLEcolab, Inc.2.83%4,366,426$487Madded0%−0.17 pp12 q
UPSUnited Parcel Service, Inc. Class B2.78%4,525,329$477Mheld—6 q
TVGrupo Televisa S.A.2.70%16,879,104$464Madded0%−0.06 pp12 q
CCICrown Castle Inc.2.68%5,332,900$461Mheld—6 q
WBAWalgreens Boots Alliance, Inc1.70%3,475,398$293Mheld—6 q
LBTYKLiberty Global Ltd. Class C0.80%3,639,349$137Mheld—12 q
ANAutoNation, Inc.0.52%1,898,717$89Madded0%−0.16 pp12 q
LBTYALiberty Global Ltd. Class A0.47%2,119,515$82Mheld—12 q
ARCOArcos Dorados Holdings Inc.0.07%3,060,500$11Mheld—9 q
1LGEUSDLiberty Global PLC Lilac - C0.04%181,967$7Mheld—3 q
99998USDLiberty Global PLC Lilac - A0.02%105,975$4Mheld—3 q

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