Gates Foundation Trust 13F, Q3 2025
Bill Gates · quarter ending 30 September 2025 · filed 14 November 2025 · SEC CIK 1166559
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q3 2025
Weights are against the whole filed book. Changes are in shares held, against the Q2 2025 filing.
| Company | Ticker | Value | % of book | vs Q2 2025 |
|---|---|---|---|---|
| BERKSHIRE HATHAWAY INC DEL | BRK/B | $10.94B | 29.9% | -10% shares |
| WASTE MGMT INC DEL | WM | $6.39B | 17.5% | -10% shares |
| CANADIAN NATL RY CO | CNI | $4.89B | 13.4% | -6% shares |
| MICROSOFT CORP | MSFT | $4.76B | 13.0% | -65% shares |
| CATERPILLAR INC | CAT | $3.03B | 8.3% | -14% shares |
| DEERE & CO | DE | $1.63B | 4.5% | unchanged |
| ECOLAB INC | ECL | $1.43B | 3.9% | unchanged |
| WALMART INC | WMT | $864.72M | 2.4% | -8% shares |
| FEDEX CORP | FDX | $562.26M | 1.5% | -6% shares |
| COCA-COLA FEMSA SAB DE CV | KOF | $516.44M | 1.4% | unchanged |
| WASTE CONNECTIONS INC | WCN | $358.49M | 1.0% | -5% shares |
| COUPANG INC | CPNG | $297.79M | 0.8% | unchanged |
| SCHRODINGER INC | SDGR | $140.05M | 0.4% | unchanged |
| MADISON SQUARE GRDN SPRT COR | MSGS | $134.48M | 0.4% | unchanged |
| WEST PHARMACEUTICAL SVSC INC | WST | $116.61M | 0.3% | unchanged |
| MCDONALDS CORP | MCD | $101.77M | 0.3% | unchanged |
| ANHEUSER BUSCH INBEV SA/NV | BUD | $101.52M | 0.3% | unchanged |
| PACCAR INC | PCAR | $98.32M | 0.3% | unchanged |
| DANAHER CORPORATION | DHR | $73.95M | 0.2% | unchanged |
| KRAFT HEINZ CO | KHC | $64.39M | 0.2% | -6% shares |
| HORMEL FOODS CORP | HRL | $51.59M | 0.1% | -5% shares |
| ON HLDG AG | $21.18M | 0.1% | unchanged | |
| VERALTO CORP | VLTO | $13.26M | 0.0% | unchanged |
What changed since Q2 2025
Against the Q2 2025 filing, Gates Foundation Trust opened 0 new positions, added to 0, trimmed 10, left 13 unchanged and exited 2. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001104659-25-112544, filed by GATES FOUNDATION TRUST. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.