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Gates Foundation Trust

Q4 2016 13F · by Michael Larson, CIO

As of
Dec 31, 2016
Filed
Feb 14, 2017
US stock
$19.0B · prev $18.5B
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%

Moves1 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 positions82% of US stock

  1. BRK.B BERKSHIRE HATHAWAY Class B trimmed+1.22 pp trimmed+1.2259.4%
  2. WM Waste Management, Inc. held held7.0%
  3. CNI Canadian National Railway held held6.1%
  4. CAT Caterpillar Inc. held held5.5%
  5. WMT Walmart Inc. held held4.2%

Positions18 in this filing · 0 exited

BRK.BBERKSHIRE HATHAWAY Class B59.43%69,349,971$11.3Btrimmed−7%+1.22 pp15 q
WMWaste Management, Inc.6.95%18,633,672$1.3Bheld—15 q
CNICanadian National Railway6.07%17,126,874$1.2Bheld—15 q
CATCaterpillar Inc.5.49%11,260,857$1.0Bheld—15 q
WMTWalmart Inc.4.22%11,603,000$802Mheld—15 q
FDXFedEx Corporation2.96%3,024,999$563Mheld—15 q
UPSUnited Parcel Service, Inc. Class B2.73%4,525,329$519Mheld—9 q
ECLEcolab, Inc.2.69%4,366,426$512Mheld—15 q
CCICrown Castle Inc.2.43%5,332,900$463Mheld—9 q
KOFCoca-Cola FEMSA, S.A.B DE C.V2.08%6,214,719$395Mheld—15 q
TVGrupo Televisa S.A.1.85%16,879,104$353Mheld—15 q
WBAWalgreens Boots Alliance, Inc1.51%3,475,398$288Mheld—9 q
LBTYKLiberty Global Ltd. Class C0.57%3,639,349$108Mheld—15 q
ANAutoNation, Inc.0.49%1,898,717$92Mheld—15 q
LBTYALiberty Global Ltd. Class A0.34%2,119,515$65Mheld—15 q
ARCOArcos Dorados Holdings Inc.0.09%3,060,500$17Mheld—12 q
1LGEUSDLiberty Global PLC Lilac - C0.07%636,044$13Mheld—6 q
99998USDLiberty Global PLC Lilac - A0.04%370,424$8Mheld—6 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