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.

$35.36B13F报告持仓市值

23持仓明细

95.7%前十大权重

6.40有效持仓

3.3%预计换手率

+0新增

−0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 50.7% (+4.3pp)

金融服务 27.6% (-2.3pp)

科技 10.9% (-2.5pp)

必选消费 4.9% (+0.5pp)

基础材料 3.9% (+0.0pp)

可选消费 1.0% (-0.2pp)

医疗保健 0.6% (+0.1pp)

通信服务 0.4% (+0.0pp)

占已申报普通股权益价值的比例；（±pp）较上一季度。

持仓组合 · Q4 2025

#	证券	权重	价值	股份	Δ股份		持有
1	BRK-B Berkshire Hathaway Inc.	27.6%	$9.75B	19.41M	-10.8%	▼ Trim	7
2	WM Waste Management, Inc.	18.0%	$6.36B	28.93M	0.0%	Held	7
3	CNI Canadian National Railway…	14.5%	$5.12B	51.83M	0.0%	Held	7
4	MSFT Microsoft Corporation	10.5%	$3.72B	7.69M	-16.3%	▼ Trim	7
5	CAT Caterpillar Inc.	10.3%	$3.64B	6.35M	0.0%	Held	7
6	DE Deere & Company	4.7%	$1.66B	3.56M	0.0%	Held	7
7	ECL Ecolab Inc.	3.9%	$1.37B	5.22M	0.0%	Held	7
8	WMT Walmart Inc.	2.6%	$934.78M	8.39M	0.0%	Held	7
9	FDX FedEx Corporation	1.9%	$688.75M	2.38M	0.0%	Held	7
10	KOF Coca-Cola FEMSA, S.A.B. de…	1.7%	$588.60M	6.21M	0.0%	Held	7
11	WCN Waste Connections, Inc.	1.0%	$357.59M	2.04M	0.0%	Held	7
12	CPNG Coupang, Inc.	0.6%	$218.16M	9.25M	0.0%	Held	7
13	MSGS Madison Square Garden…	0.4%	$153.23M	592.41K	0.0%	Held	7
14	SDGR Schrödinger, Inc.	0.4%	$124.83M	6.98M	0.0%	Held	7
15	WST West Pharmaceutical…	0.3%	$122.30M	444.50K	0.0%	Held	4
16	PCAR PACCAR Inc	0.3%	$109.51M	1.00M	0.0%	Held	6
17	BUD Anheuser-Busch InBev SA/NV	0.3%	$109.06M	1.70M	0.0%	Held	7
18	MCD McDonald's Corporation	0.3%	$102.36M	334.90K	0.0%	Held	5
19	DHR Danaher Corporation	0.2%	$85.39M	373.00K	0.0%	Held	7
20	KHC The Kraft Heinz Company	0.2%	$59.96M	2.47M	0.0%	Held	7
21	HRL Hormel Foods Corporation	0.1%	$49.42M	2.09M	0.0%	Held	7
22	ONON On Holding AG	0.1%	$23.24M	500.00K	0.0%	Held	7
23	VLTO Veralto Corporation	0.0%	$12.41M	124.33K	0.0%	Held	7

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
BRK-B Berkshire Hathaway Inc.	19.41M	21.77M	-10.8%	$9.75B	27.6%	●●○○○○
MSFT Microsoft Corporation	7.69M	9.19M	-16.3%	$3.72B	10.5%	●●●○○○

持仓持有时长

12–4 季度

225–8 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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