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Gates Foundation Trust

Q4 2017 13F · by Michael Larson, CIO

As of
Dec 31, 2017
Filed
Feb 14, 2018
US stock
$26.5B · prev $25.8B
Positions
19 · 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 4 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 positions81% of US stock

  1. BRK.B BERKSHIRE HATHAWAY Class B trimmed−1.21 pp trimmed−1.2147.6%
  2. MSFT Microsoft Corp trimmed−0.69 pp trimmed−0.6915.5%
  3. CAT Caterpillar Inc. held held6.7%
  4. WM Waste Management, Inc. held held6.1%
  5. CNI Canadian National Railway held held5.3%

Positions19 in this filing · 0 exited

BRK.BBERKSHIRE HATHAWAY Class B47.61%63,569,972$12.6Btrimmed−7%−1.21 pp19 q
MSFTMicrosoft Corp15.51%48,000,000$4.1Btrimmed−14%−0.69 pp3 q
CATCaterpillar Inc.6.70%11,260,857$1.8Bheld—19 q
WMWaste Management, Inc.6.08%18,633,672$1.6Bheld—19 q
CNICanadian National Railway5.34%17,126,874$1.4Bheld—19 q
WMTWalmart Inc.4.33%11,603,000$1.1Bheld—19 q
FDXFedEx Corporation2.85%3,024,999$755Mheld—19 q
CCICrown Castle Inc.2.24%5,332,900$592Mheld—13 q
ECLEcolab, Inc.2.21%4,366,426$586Mheld—19 q
UPSUnited Parcel Service, Inc. Class B2.04%4,525,329$539Mheld—13 q
KOFCoca-Cola FEMSA, S.A.B DE C.V1.63%6,214,719$433Mheld—19 q
TVGrupo Televisa S.A.1.19%16,879,104$315Mheld—19 q
WBAWalgreens Boots Alliance, Inc0.95%3,475,398$252Mheld—13 q
LBTYKLiberty Global Ltd. Class C0.47%3,639,349$123Mheld—19 q
ANAutoNation, Inc.0.37%1,898,717$97Mheld—19 q
LBTYALiberty Global Ltd. Class A0.29%2,119,515$76Mheld—19 q
ARCOArcos Dorados Holdings Inc.0.12%3,060,500$32Mheld—16 q
1LGEUSDLiberty Global PLC Lilac - C0.05%636,044$13Mheld—10 q
99998USDLiberty Global PLC Lilac - A0.03%370,424$7Mheld—10 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