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Gates Foundation Trust

Q2 2019 13F · by Michael Larson, CIO

As of
Jun 30, 2019
Filed
Aug 14, 2019
US stock
$19.8B · prev $20.9B
Positions
16 · 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%

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 · 0.0% a year

  1. Low
  2. Moderate
  3. High

Top 5 positions84% of US stock

  1. BRK.B BERKSHIRE HATHAWAY Class B trimmed+0.52 pp trimmed+0.5250.6%
  2. WM Waste Management, Inc. held held10.8%
  3. CNI Canadian National Railway held held8.0%
  4. CAT Caterpillar Inc. held held7.7%
  5. WMT Walmart Inc. held held6.5%

Positions16 in this filing · 2 exited

BRK.BBERKSHIRE HATHAWAY Class B50.61%47,078,974$10.0Btrimmed−10%+0.52 pp25 q
WMWaste Management, Inc.10.84%18,633,672$2.1Bheld—25 q
CNICanadian National Railway7.99%17,126,874$1.6Bheld—25 q
CATCaterpillar Inc.7.74%11,260,857$1.5Bheld—25 q
WMTWalmart Inc.6.47%11,603,000$1.3Bheld—25 q
ECLEcolab, Inc.4.35%4,366,426$862Mheld—25 q
CCICrown Castle Inc.3.51%5,332,900$695Mheld—19 q
FDXFedEx Corporation2.50%3,024,999$497Mheld—25 q
UPSUnited Parcel Service, Inc. Class B2.36%4,525,329$467Mheld—19 q
KOFCoca-Cola FEMSA, S.A.B DE C.V1.95%6,214,719$386Mheld—25 q
TVGrupo Televisa S.A.0.72%16,879,104$142Mheld—25 q
LBTYKLiberty Global Ltd. Class C0.49%3,639,349$97Mheld—25 q
LBTYALiberty Global Ltd. Class A0.29%2,119,515$57Mheld—25 q
ARCOArcos Dorados Holdings Inc.0.11%3,060,500$22Mheld—22 q
LILAKLiberty Latin America Ltd. Class C0.06%636,044$11Mheld—6 q
LILALiberty Latin America Ltd. Class A0.03%370,424$6Mheld—6 q
MSFTMicrosoft Corp—−8,000,000—exited−4.52 pp—
ANAutoNation, Inc.—−1,898,717—exited−0.32 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