Bill and Melinda Gates Foundation

Gates Foundation Trust · Holdings as of Jun 30, 2023, filed by Aug 15, 2023 · US long stock positions only

The foundation's book. Berkshire plus a handful of long holds.

Reported value

$42B

23 positions shown

Copycat since 2016

3.37x

13% per year

vs SPY

behind

SPY 3.57x same window

Top position

MSFT

32% of book

Copying these filings vs SPY

$1 at every deadline since 2016

Price returns, dividends excluded on both lines. A copycat of public filings traded at each deadline, not the fund's actual performance.

Mar 2026 Dec 2025 Sep 2025 Jun 2025 Mar 2025 Dec 2024 Sep 2024 Jun 2024 Mar 2024 Dec 2023 Sep 2023 Jun 2023

The book

tile = share of the filed book · tap a tile for the ticker · Jun 2023

MSFT 32% BRK.B 20% CNI 16% WM 15% CAT 4% DE 4% ECL 2%

+8 more 1%

Symbol	Value	% of book	vs prior quarter
MSFT	$13.4B	32%	unchanged
BRK.B	$8.6B	20%	added
CNI	$6.6B	16%	unchanged
WM	$6.1B	15%	unchanged
CAT	$1.8B	4%	unchanged
DE	$1.6B	4%	unchanged
ECL	$974M	2%	unchanged
KOF	$518M	1%	unchanged
WMT	$475M	1%	unchanged
FDX	$380M	1%	unchanged
SDGR	$349M	1%	unchanged
WCN	$307M	1%	unchanged
CCI	$162M	0%	unchanged
CPNG	$161M	0%	unchanged
UPS	$133M	0%	unchanged
MSGS	$111M	0%	unchanged
BUD	$97M	0%	new
KHC	$93M	0%	unchanged
DHR	$90M	0%	unchanged
HRL	$88M	0%	unchanged
unlisted	$16M	0%	unchanged
CVNA	$13M	0%	unchanged
unlisted	$4M	0%	unchanged

Positions built under SEC confidential treatment appear only after the SEC releases them. Cash, foreign listings and shorts never appear in these filings.