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Gates Foundation Trust

Q1 2024 13F · by Michael Larson, CIO

As of
Mar 31, 2024
Filed
May 15, 2024
US stock
$45.9B · prev $42.3B
Positions
24 · prev 24
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 trimmed−0.49 pp trimmed−0.4933.5%
  2. WM Waste Management, Inc. held held16.4%
  3. BRK.B BERKSHIRE HATHAWAY Class B trimmed−0.93 pp trimmed−0.9315.9%
  4. CNI Canadian National Railway held held15.8%
  5. CAT Caterpillar Inc. held held5.9%

Positions24 in this filing · 0 exited

MSFTMicrosoft Corp33.49%36,499,597$15.4Btrimmed−4%−0.49 pp11 q
WMWaste Management, Inc.16.38%35,234,344$7.5Bheld—44 q
BRK.BBERKSHIRE HATHAWAY Class B15.87%17,303,097$7.3Btrimmed−13%−0.93 pp44 q
CNICanadian National Railway15.75%54,826,786$7.2Bheld—44 q
CATCaterpillar Inc.5.88%7,353,614$2.7Bheld—44 q
DEDeere & Company3.19%3,557,378$1.5Bheld—11 q
ECLEcolab, Inc.2.63%5,218,044$1.2Bheld—44 q
KOFCoca-Cola FEMSA, S.A.B DE C.V1.32%6,214,719$604Mheld—44 q
WMTWalmart Inc.1.19%9,090,477$547Mheld—44 q
FDXFedEx Corporation0.97%1,534,362$445Mheld—44 q
WCNWaste Connections, Inc.0.81%2,149,175$370Mheld—7 q
SDGRSchrodinger, Inc.0.41%6,981,664$189Mheld—17 q
CPNGCoupang, Inc.0.36%9,248,045$165Mheld—13 q
CCICrown Castle Inc.0.33%1,420,072$150Mheld—38 q
MSGSMadison Square Garden Sports Corp.0.24%592,406$109Mheld—11 q
UPSUnited Parcel Service, Inc. Class B0.24%755,089$112Mheld—38 q
BUDAnheuser-Busch INBEV SA/NV0.23%1,703,000$104Mheld—4 q
KHCThe Kraft Heinz Company0.21%2,622,600$97Mheld—7 q
DHRDanaher Corporation0.20%373,000$93Mheld—6 q
HRLHormel Foods Corporation0.17%2,195,290$77Mheld—6 q
CVNACarvana Co.0.10%520,000$46Mheld—8 q
ONONOn Holding AG0.04%500,000$18Mheld—11 q
VLTOVeralto Corporation0.02%124,333$11Mheld—2 q
VRMVroom, Inc.0.00%31,250$419,688held—8 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