Gates Foundation Trust 13F, Q4 2025
Bill Gates · quarter ending 31 December 2025 · filed 17 February 2026 · SEC CIK 1166559
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q4 2025
Weights are against the whole filed book. Changes are in shares held, against the Q3 2025 filing.
| Company | Ticker | Value | % of book | vs Q3 2025 |
|---|---|---|---|---|
| BERKSHIRE HATHAWAY INC DEL | BRK/B | $9.75B | 27.6% | -11% shares |
| WASTE MGMT INC DEL | WM | $6.36B | 18.0% | unchanged |
| CANADIAN NATL RY CO | CNI | $5.12B | 14.5% | unchanged |
| MICROSOFT CORP | MSFT | $3.72B | 10.5% | -16% shares |
| CATERPILLAR INC | CAT | $3.64B | 10.3% | unchanged |
| DEERE & CO | DE | $1.66B | 4.7% | unchanged |
| ECOLAB INC | ECL | $1.37B | 3.9% | unchanged |
| WALMART INC | WMT | $934.78M | 2.6% | unchanged |
| FEDEX CORP | FDX | $688.75M | 1.9% | unchanged |
| COCA-COLA FEMSA SAB DE CV | KOF | $588.60M | 1.7% | unchanged |
| WASTE CONNECTIONS INC | WCN | $357.59M | 1.0% | unchanged |
| COUPANG INC | CPNG | $218.16M | 0.6% | unchanged |
| MADISON SQUARE GRDN SPRT COR | MSGS | $153.23M | 0.4% | unchanged |
| SCHRODINGER INC | SDGR | $124.83M | 0.3% | unchanged |
| WEST PHARMACEUTICAL SVSC INC | WST | $122.30M | 0.3% | unchanged |
| PACCAR INC | PCAR | $109.51M | 0.3% | unchanged |
| ANHEUSER BUSCH INBEV SA/NV | BUD | $109.06M | 0.3% | unchanged |
| MCDONALDS CORP | MCD | $102.36M | 0.3% | unchanged |
| DANAHER CORPORATION | DHR | $85.39M | 0.2% | unchanged |
| KRAFT HEINZ CO | KHC | $59.96M | 0.2% | unchanged |
| HORMEL FOODS CORP | HRL | $49.42M | 0.1% | unchanged |
| ON HLDG AG | $23.24M | 0.1% | unchanged | |
| VERALTO CORP | VLTO | $12.41M | 0.0% | unchanged |
What changed since Q3 2025
Against the Q3 2025 filing, Gates Foundation Trust opened 0 new positions, added to 0, trimmed 2, left 21 unchanged and exited 0. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
No new positions this quarter.
Exited
Nothing from the previous filing was sold outright.
Added to
No position was increased by more than 2%.
Trimmed
- BRK/B-11%$9.75B
- MSFT-16%$3.72B
Other quarters
Source: SEC Form 13F-HR, accession 0001104659-26-016458, 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.