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Gates Foundation Trust

Q2 2021 13F · by Michael Larson, CIO

As of
Jun 30, 2021
Filed
Aug 16, 2021
US stock
$23.9B · prev $21.0B
Positions
15 · prev 17
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 · 0.4% a year, more than 30 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions82% of US stock

  1. BRK.B BERKSHIRE HATHAWAY Class B added+5.64 pp added+5.6450.9%
  2. WM Waste Management, Inc. held held10.9%
  3. CAT Caterpillar Inc. held held9.3%
  4. CNI Canadian National Railway held held6.2%
  5. WMT Walmart Inc. held held4.5%

Positions15 in this filing · 2 exited

BRK.BBERKSHIRE HATHAWAY Class B50.87%43,686,679$12.1Badded+18%+5.64 pp33 q
WMWaste Management, Inc.10.94%18,633,672$2.6Bheld—33 q
CATCaterpillar Inc.9.26%10,156,756$2.2Bheld—33 q
CNICanadian National Railway6.15%13,907,283$1.5Bheld—33 q
WMTWalmart Inc.4.49%7,600,706$1.1Bheld—33 q
CCICrown Castle Inc.4.16%5,086,680$992Mheld—27 q
ECLEcolab, Inc.3.77%4,366,427$899Madded0%−0.69 pp33 q
UPSUnited Parcel Service, Inc. Class B2.44%2,801,790$583Mheld—27 q
SDGRSchrodinger, Inc.2.21%6,981,664$528Mheld—6 q
FDXFedEx Corporation1.87%1,493,712$446Mheld—33 q
KOFCoca-Cola FEMSA, S.A.B DE C.V1.38%6,214,719$329Mheld—33 q
TVGrupo Televisa S.A.1.01%16,879,104$241Mheld—33 q
CPNGCoupang, Inc.1.00%5,714,285$239Mheld—2 q
GOOGAlphabet Inc. Class C0.23%21,491$54Mheld—6 q
GOOGLAlphabet Inc. Class A0.22%21,554$53Mheld—6 q
LBTYKLiberty Global Ltd. Class C—−507,517—exited−0.06 pp—
LBTYALiberty Global Ltd. Class A—−380,772—exited−0.05 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