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Gates Foundation Trust

Q2 2023 13F · by Michael Larson, CIO

As of
Jun 30, 2023
Filed
Aug 14, 2023
US stock
$42.1B · prev $36.5B
Positions
23 · prev 22
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 5 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 positions87% of US stock

  1. MSFT Microsoft Corp held held31.8%
  2. BRK.B BERKSHIRE HATHAWAY Class B added+3.71 pp added+3.7120.4%
  3. CNI Canadian National Railway held held15.8%
  4. WM Waste Management, Inc. held held14.5%
  5. CAT Caterpillar Inc. held held4.3%

Positions23 in this filing · 0 exited

MSFTMicrosoft Corp31.79%39,264,670$13.4Bheld—8 q
BRK.BBERKSHIRE HATHAWAY Class B20.38%25,142,853$8.6Badded+28%+3.71 pp41 q
CNICanadian National Railway15.78%54,826,786$6.6Bheld—41 q
WMWaste Management, Inc.14.53%35,234,344$6.1Bheld—41 q
CATCaterpillar Inc.4.30%7,353,614$1.8Bheld—41 q
DEDeere & Company3.77%3,917,693$1.6Bheld—8 q
ECLEcolab, Inc.2.32%5,218,044$974Mheld—41 q
KOFCoca-Cola FEMSA, S.A.B DE C.V1.23%6,214,719$518Mheld—41 q
WMTWalmart Inc.1.13%3,020,859$475Mheld—41 q
FDXFedEx Corporation0.90%1,534,362$380Mheld—41 q
SDGRSchrodinger, Inc.0.83%6,981,664$349Mheld—14 q
WCNWaste Connections, Inc.0.73%2,149,175$307Mheld—4 q
CPNGCoupang, Inc.0.38%9,248,045$161Mheld—10 q
CCICrown Castle Inc.0.38%1,420,072$162Mheld—35 q
UPSUnited Parcel Service, Inc. Class B0.32%740,689$133Mheld—35 q
MSGSMadison Square Garden Sports Corp.0.26%592,406$111Mheld—8 q
BUDAnheuser-Busch INBEV SA/NV0.23%1,703,000$97Mnew+0.23 ppnew
KHCThe Kraft Heinz Company0.22%2,622,600$93Mheld—4 q
DHRDanaher Corporation0.21%373,000$90Mheld—3 q
HRLHormel Foods Corporation0.21%2,195,290$88Mheld—3 q
ONONOn Holding AG0.04%500,000$17Mheld—8 q
CVNACarvana Co.0.03%520,000$13Mheld—5 q
VRMVroom, Inc.0.01%2,500,000$4Mheld—5 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