Bill Gates
Gates Foundation Trust
The Gates Foundation Trust's US stock portfolio, which holds the foundation's endowment. Large positions include Microsoft and Berkshire.
13F portfolio value
Q2 2026
$34.42B
1-year growth
-28.0%
2-year growth
-27.8%
Positions
24
Top 10 share
94.9%
Quarterly turnover
1.5%
Last filed
Aug 14, 2026
Source: SEC EDGAR · Photo: Bogdan Hoyaux / European Union (CC BY 4.0)
Q2 2026: summary
MakklerAI- In Q2 2026, the portfolio was $34.4B across 24 positions, up from $31.7B and 22 positions in Q1; the top 10 made up 94.9%.
- New positions were HD at $353M (1.0% of the portfolio) and FDXF at $180M (0.5%); there were no full exits.
- BRK-B shares fell 13.8% to a $7.4B position (21.4% weight), while WM shares declined 3.3% to $6.0B (17.3%).
- CAT’s portfolio weight rose from 14.2% to 19.7% and CNI’s from 16.8% to 18.0%; shares in both were unchanged.
Portfolio value (13F)
$47.67BQ2 2024
$45.09BQ3 2024
$42.02BQ4 2024
$41.81BQ1 2025
$47.78BQ2 2025
$36.58BQ3 2025
$35.36BQ4 2025
$31.67BQ1 2026
$34.42BQ2 2026
| Quarter | Value | Positions | New | Added | Trimmed | Sold | Quarterly turnover |
|---|---|---|---|---|---|---|---|
| Q2 2026 | $34.42B | 24 | 2 | 0 | 2 | 0 | 1.5% |
| Q1 2026 | $31.67B | 22 | 0 | 0 | 2 | 1 | 0.0% |
| Q4 2025 | $35.36B | 23 | 0 | 0 | 2 | 0 | 0.0% |
| Q3 2025 | $36.58B | 23 | 0 | 0 | 10 | 2 | 0.0% |
| Q2 2025 | $47.78B | 25 | 0 | 1 | 1 | 0 | 2.4% |
| Q1 2025 | $41.81B | 25 | 1 | 0 | 1 | 0 | 0.2% |
| Q4 2024 | $42.02B | 24 | 1 | 0 | 2 | 1 | 0.2% |
| Q3 2024 | $45.09B | 24 | 1 | 1 | 3 | 0 | 0.8% |
| Q2 2024 | $47.67B | 23 | — | — | — | — | — |
Weight of the largest positions
The latest quarter's 10 largest positions, with their weights in earlier quarters.
| Stock | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|---|---|---|---|---|
| BRK-B | 21.0% | 22.6% | 21.2% | 21.9% | 24.5% | 29.9% | 27.6% | 25.8% | 21.4% |
| CAT | 5.1% | 6.4% | 6.3% | 5.8% | 6.0% | 8.3% | 10.3% | 14.2% | 19.7% |
| CNI | 13.6% | 14.2% | 13.2% | 12.8% | 11.9% | 13.4% | 14.5% | 16.8% | 18.0% |
| WM | 15.8% | 14.8% | 15.5% | 17.9% | 15.4% | 17.5% | 18.0% | 20.1% | 17.3% |
| DE | 2.8% | 3.3% | 3.6% | 4.0% | 3.8% | 4.4% | 4.7% | 6.3% | 6.6% |
| ECL | 2.6% | 3.0% | 2.9% | 3.2% | 2.9% | 3.9% | 3.9% | 4.4% | 4.2% |
| WMT | 1.3% | 1.6% | 2.0% | 1.9% | 1.9% | 2.4% | 2.6% | 3.3% | 2.8% |
| FDX | 1.0% | 1.5% | 1.7% | 1.5% | 1.2% | 1.5% | 1.9% | 2.7% | 2.2% |
| KOF | 1.1% | 1.2% | 1.2% | 1.4% | 1.3% | 1.4% | 1.7% | 1.9% | 1.9% |
| HD | — | — | — | — | — | — | — | — | 1.0% |
| WCN | 0.8% | 0.9% | 0.9% | 1.0% | 0.8% | 1.0% | 1.0% | 1.0% | 1.0% |
| MSGS | 0.2% | 0.3% | 0.3% | 0.3% | 0.3% | 0.4% | 0.4% | 0.6% | 0.7% |
| FDXF | — | — | — | — | — | — | — | — | 0.5% |
| CPNG | 0.4% | 0.5% | 0.5% | 0.5% | 0.6% | 0.8% | 0.6% | 0.6% | 0.5% |
| WST | — | — | — | 0.2% | 0.2% | 0.3% | 0.3% | 0.4% | 0.5% |
| BUD | 0.2% | 0.3% | 0.2% | 0.3% | 0.2% | 0.3% | 0.3% | 0.4% | 0.4% |
| PCAR | — | 0.2% | 0.2% | 0.2% | 0.2% | 0.3% | 0.3% | 0.4% | 0.3% |
| SDGR | 0.3% | 0.3% | 0.3% | 0.3% | 0.3% | 0.4% | 0.4% | 0.3% | 0.3% |
| MCD | — | — | 0.2% | 0.3% | 0.2% | 0.3% | 0.3% | 0.3% | 0.3% |
| DHR | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% |
| KHC | 0.2% | 0.2% | 0.2% | 0.2% | 0.1% | 0.2% | 0.2% | 0.2% | 0.2% |
| HRL | 0.1% | 0.2% | 0.2% | 0.2% | 0.1% | 0.1% | 0.1% | 0.1% | 0.2% |
| On Hldg Ag | <0.1% | <0.1% | <0.1% | <0.1% | <0.1% | <0.1% | <0.1% | <0.1% | <0.1% |
| VLTO | <0.1% | <0.1% | <0.1% | <0.1% | <0.1% | <0.1% | <0.1% | <0.1% | <0.1% |
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