Skip to content
Disclosery

GATES FOUNDATION TRUST

Follow

13F filer, CIK 1166559, KIRKLAND, WA

GATES FOUNDATION TRUST reported $36,583,755,044 across 23 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 95.7% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001104659-25-112544

Period
2025-09-30
Reported value
$36.6B
Holdings
23
Top 10 weight
95.7%
New
0
Sold out
2

Largest buys vs the previous quarter

None.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
MSFTreduced-17,000,000-$8.81B
BRK-Breduced-2,358,460-$1.19B
WMreduced-3,300,000-$729M
CATreduced-1,000,000-$477M
CNIreduced-3,000,000-$283M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001104659-25-112544, largest first. % of portfolio is the value over $36,583,755,044, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 22,137,613 shares; 2024Q4: 19,655,024 shares; 2025Q1: 17,172,435 shares; 2025Q2: 24,123,684 shares; 2025Q3: 21,765,224 shares 21,765,224$10.9B29.91%-2,358,460Timeline
WMWASTE MGMT INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 32,234,344 shares; 2024Q4: 32,234,344 shares; 2025Q1: 32,234,344 shares; 2025Q2: 32,234,344 shares; 2025Q3: 28,934,344 shares 28,934,344$6.39B17.47%-3,300,000Timeline
CNICANADIAN NATL RY COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 54,826,786 shares; 2024Q4: 54,826,786 shares; 2025Q1: 54,826,786 shares; 2025Q2: 54,826,786 shares; 2025Q3: 51,826,786 shares 51,826,786$4.89B13.36%-3,000,000Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,957,247 shares; 2024Q4: 28,457,247 shares; 2025Q1: 28,457,247 shares; 2025Q2: 26,191,207 shares; 2025Q3: 9,191,207 shares 9,191,207$4.76B13.01%-17,000,000Timeline
CATCATERPILLAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,353,614 shares; 2024Q4: 7,353,614 shares; 2025Q1: 7,353,614 shares; 2025Q2: 7,353,614 shares; 2025Q3: 6,353,614 shares 6,353,614$3.03B8.29%-1,000,000Timeline
DEDEERE & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,557,378 shares; 2024Q4: 3,557,378 shares; 2025Q1: 3,557,378 shares; 2025Q2: 3,557,378 shares; 2025Q3: 3,557,378 shares 3,557,378$1.63B4.45%0Timeline
ECLECOLAB INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,218,044 shares; 2024Q4: 5,218,044 shares; 2025Q1: 5,218,044 shares; 2025Q2: 5,218,044 shares; 2025Q3: 5,218,044 shares 5,218,044$1.43B3.91%0Timeline
WMTWALMART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,090,477 shares; 2024Q4: 9,090,477 shares; 2025Q1: 9,090,477 shares; 2025Q2: 9,090,477 shares; 2025Q3: 8,390,477 shares 8,390,477$865M2.36%-700,000Timeline
FDXFEDEX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,534,362 shares; 2024Q4: 2,534,362 shares; 2025Q1: 2,534,362 shares; 2025Q2: 2,534,362 shares; 2025Q3: 2,384,362 shares 2,384,362$562M1.54%-150,000Timeline
KOFCOCA-COLA FEMSA SAB DE CVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,214,719 shares; 2024Q4: 6,214,719 shares; 2025Q1: 6,214,719 shares; 2025Q2: 6,214,719 shares; 2025Q3: 6,214,719 shares 6,214,719$516M1.41%0Timeline
WCNWASTE CONNECTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,149,175 shares; 2024Q4: 2,149,175 shares; 2025Q1: 2,149,175 shares; 2025Q2: 2,149,175 shares; 2025Q3: 2,039,175 shares 2,039,175$358M0.98%-110,000Timeline
CPNGCOUPANG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,248,045 shares; 2024Q4: 9,248,045 shares; 2025Q1: 9,248,045 shares; 2025Q2: 9,248,045 shares; 2025Q3: 9,248,045 shares 9,248,045$298M0.81%0Timeline
SDGRSCHRODINGER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,981,664 shares; 2024Q4: 6,981,664 shares; 2025Q1: 6,981,664 shares; 2025Q2: 6,981,664 shares; 2025Q3: 6,981,664 shares 6,981,664$140M0.38%0Timeline
MSGSMADISON SQUARE GRDN SPRT CORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 592,406 shares; 2024Q4: 592,406 shares; 2025Q1: 592,406 shares; 2025Q2: 592,406 shares; 2025Q3: 592,406 shares 592,406$134M0.37%0Timeline
WSTWEST PHARMACEUTICAL SVSC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 444,500 shares; 2025Q2: 444,500 shares; 2025Q3: 444,500 shares 444,500$117M0.32%0Timeline
MCDMCDONALDS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 334,900 shares; 2025Q1: 334,900 shares; 2025Q2: 334,900 shares; 2025Q3: 334,900 shares 334,900$102M0.28%0Timeline
BUDANHEUSER BUSCH INBEV SA NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,703,000 shares; 2024Q4: 1,703,000 shares; 2025Q1: 1,703,000 shares; 2025Q2: 1,703,000 shares; 2025Q3: 1,703,000 shares 1,703,000$102M0.28%0Timeline
PCARPACCAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,000,000 shares; 2024Q4: 1,000,000 shares; 2025Q1: 1,000,000 shares; 2025Q2: 1,000,000 shares; 2025Q3: 1,000,000 shares 1,000,000$98.3M0.27%0Timeline
DHRDANAHER CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 373,000 shares; 2024Q4: 373,000 shares; 2025Q1: 373,000 shares; 2025Q2: 373,000 shares; 2025Q3: 373,000 shares 373,000$74M0.2%0Timeline
KHCKRAFT HEINZ COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,622,600 shares; 2024Q4: 2,622,600 shares; 2025Q1: 2,622,600 shares; 2025Q2: 2,622,600 shares; 2025Q3: 2,472,600 shares 2,472,600$64.4M0.18%-150,000Timeline
HRLHORMEL FOODS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,195,290 shares; 2024Q4: 2,195,290 shares; 2025Q1: 2,195,290 shares; 2025Q2: 2,195,290 shares; 2025Q3: 2,085,290 shares 2,085,290$51.6M0.14%-110,000Timeline
ONONON HLDG AGQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 500,000 shares; 2024Q4: 500,000 shares; 2025Q1: 500,000 shares; 2025Q2: 500,000 shares; 2025Q3: 500,000 shares 500,000$21.2M0.06%0Timeline
VLTOVERALTO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 124,333 shares; 2024Q4: 124,333 shares; 2025Q1: 124,333 shares; 2025Q2: 124,333 shares; 2025Q3: 124,333 shares 124,333$13.3M0.04%0Timeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
CCICROWN CASTLE INC1,420,072$146Mshares
UPSUNITED PARCEL SVCS INC755,089$76.2Mshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001104659-25-112544 base2025-11-14acceptance time not in the bulk data set