管理人记录 · ✦ 精选 · 已归档季度

Gates Foundation Trust

Endowment trust · Kirkland, WA · CIK 1166559 · EDGAR 文件 ↗

Concentrated endowment portfolio.

$36.58B13F报告持仓市值

23持仓明细

95.7%前十大权重

6.00有效持仓

0.6%预计换手率

+0新增

−2清仓

申报的13F投资组合价值仅涵盖美国应申报多头仓位，不含现金、债券、空头仓位或非美国持仓，不等同于管理规模。

各季度报告持仓市值 Q2 2024 → Q2 2026

板块敞口

工业 46.4% (+6.8pp)

金融服务 29.9% (+5.4pp)

科技 13.4% (-14.2pp)

必选消费 4.4% (+0.8pp)

基础材料 3.9% (+1.0pp)

可选消费 1.2% (+0.4pp)

医疗保健 0.5% (+0.1pp)

通信服务 0.4% (+0.1pp)

占已申报普通股权益价值的比例；（±pp）较上一季度。

持仓组合 · Q3 2025

#	证券	权重	价值	股份	Δ股份		持有
1	BRK-B Berkshire Hathaway Inc.	29.9%	$10.94B	21.77M	-9.8%	▼ Trim	6
2	WM Waste Management, Inc.	17.5%	$6.39B	28.93M	-10.2%	▼ Trim	6
3	CNI Canadian National Railway…	13.4%	$4.89B	51.83M	-5.5%	▼ Trim	6
4	MSFT Microsoft Corporation	13.0%	$4.76B	9.19M	-64.9%	▼ Trim	6
5	CAT Caterpillar Inc.	8.3%	$3.03B	6.35M	-13.6%	▼ Trim	6
6	DE Deere & Company	4.4%	$1.63B	3.56M	0.0%	Held	6
7	ECL Ecolab Inc.	3.9%	$1.43B	5.22M	0.0%	Held	6
8	WMT Walmart Inc.	2.4%	$864.72M	8.39M	-7.7%	▼ Trim	6
9	FDX FedEx Corporation	1.5%	$562.26M	2.38M	-5.9%	▼ Trim	6
10	KOF Coca-Cola FEMSA, S.A.B. de…	1.4%	$516.44M	6.21M	0.0%	Held	6
11	WCN Waste Connections, Inc.	1.0%	$358.49M	2.04M	-5.1%	▼ Trim	6
12	CPNG Coupang, Inc.	0.8%	$297.79M	9.25M	0.0%	Held	6
13	SDGR Schrödinger, Inc.	0.4%	$140.05M	6.98M	0.0%	Held	6
14	MSGS Madison Square Garden…	0.4%	$134.48M	592.41K	0.0%	Held	6
15	WST West Pharmaceutical…	0.3%	$116.61M	444.50K	0.0%	Held	3
16	MCD McDonald's Corporation	0.3%	$101.77M	334.90K	0.0%	Held	4
17	BUD Anheuser-Busch InBev SA/NV	0.3%	$101.52M	1.70M	0.0%	Held	6
18	PCAR PACCAR Inc	0.3%	$98.32M	1.00M	0.0%	Held	5
19	DHR Danaher Corporation	0.2%	$73.95M	373.00K	0.0%	Held	6
20	KHC The Kraft Heinz Company	0.2%	$64.39M	2.47M	-5.7%	▼ Trim	6
21	HRL Hormel Foods Corporation	0.1%	$51.59M	2.09M	-5.0%	▼ Trim	6
22	ONON On Holding AG	0.1%	$21.18M	500.00K	0.0%	Held	6
23	VLTO Veralto Corporation	0.0%	$13.26M	124.33K	0.0%	Held	6

仅含普通股（SH）持仓；期权行显示于"期权"标签页，且不作净额处理。✂ = 变动基于拆股调整后的前期持股数计算。"持有 N+ 季度"= 在我们的数据窗口内每季度均有持仓，实际持有时间可能更长。

证券	股份	上期	变动	价值	权重	连续记录
MSFT Microsoft Corporation	9.19M	26.19M	-64.9%	$4.76B	13.0%	●●○○○○
BRK-B Berkshire Hathaway Inc.	21.77M	24.12M	-9.8%	$10.94B	29.9%
WM Waste Management, Inc.	28.93M	32.23M	-10.2%	$6.39B	17.5%
CNI Canadian National…	51.83M	54.83M	-5.5%	$4.89B	13.4%
CAT Caterpillar Inc.	6.35M	7.35M	-13.6%	$3.03B	8.3%
WMT Walmart Inc.	8.39M	9.09M	-7.7%	$864.72M	2.4%
FDX FedEx Corporation	2.38M	2.53M	-5.9%	$562.26M	1.5%
WCN Waste Connections, Inc.	2.04M	2.15M	-5.1%	$358.49M	1.0%
KHC The Kraft Heinz Company	2.47M	2.62M	-5.7%	$64.39M	0.2%
HRL Hormel Foods Corporation	2.09M	2.20M	-5.0%	$51.59M	0.1%

证券	股份	上期	变动	价值	权重	连续记录
CCI Crown Castle Inc.	n/a	1.42M	退出	$145.88M	0.3%
UPS United Parcel Service…	n/a	755.09K	退出	$76.22M	0.2%

持仓持有时长

22–4 季度

215–8 季度

当前各持仓在我们数据窗口内已连续报告的季度数。

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