Bill & Melinda Gates Foundation Trust
Bill & Melinda Gates Foundation Trust
Latest 13F filing
Q4 2025
filed Feb 17, 2026
Portfolio value
$35.36B
Positions
23
Top 10 concentration
95.7%
QoQ change
-3.3%
$-1.22B
Activity vs. Q3 2025
0
New positions
0
Added to
21
Unchanged
2
Reduced
5
Exited
Portfolio composition — Q4 2025
- BRK/BBERKSHIRE HATHAWAY INC DEL27.6%
- WMWASTE MGMT INC DEL18.0%
- CNICANADIAN NATL RY CO14.5%
- MSFTMICROSOFT CORP10.5%
- CATCATERPILLAR INC10.3%
- DEDEERE & CO4.7%
- ECLECOLAB INC3.9%
- WMTWALMART INC2.6%
- FDXFEDEX CORP1.9%
- KOFCOCA-COLA FEMSA SAB DE CV1.7%
- Other13 more positions4.3%
Top buys
New & added positions, by size
No new or added positions this quarter.
Holdings as of Q4 2025
| # | Ticker | Issuer | Shares | Value | % Portfolio | Reported price | Action | Δ Shares |
|---|---|---|---|---|---|---|---|---|
| 1 | BRK/B | BERKSHIRE HATHAWAY INC DEL | 19,406,764 | $9.75B | 27.59% | $502.65 | REDUCE | -10.8% |
| 2 | WM | WASTE MGMT INC DEL | 28,934,344 | $6.36B | 17.98% | $219.71 | — | 0% |
| 3 | CNI | CANADIAN NATL RY CO | 51,826,786 | $5.12B | 14.49% | $98.85 | — | 0% |
| 4 | MSFT | MICROSOFT CORP | 7,691,207 | $3.72B | 10.52% | $483.62 | REDUCE | -16.3% |
| 5 | CAT | CATERPILLAR INC | 6,353,614 | $3.64B | 10.29% | $572.87 | — | 0% |
| 6 | DE | DEERE & CO | 3,557,378 | $1.66B | 4.68% | $465.57 | — | 0% |
| 7 | ECL | ECOLAB INC | 5,218,044 | $1.37B | 3.87% | $262.52 | — | 0% |
| 8 | WMT | WALMART INC | 8,390,477 | $934.78M | 2.64% | $111.41 | — | 0% |
| 9 | FDX | FEDEX CORP | 2,384,362 | $688.75M | 1.95% | $288.86 | — | 0% |
| 10 | KOF | COCA-COLA FEMSA SAB DE CV | 6,214,719 | $588.60M | 1.66% | $94.71 | — | 0% |
| 11 | WCN | WASTE CONNECTIONS INC | 2,039,175 | $357.59M | 1.01% | $175.36 | — | 0% |
| 12 | CPNG | COUPANG INC | 9,248,045 | $218.16M | 0.62% | $23.59 | — | 0% |
| 13 | MSGS | MADISON SQUARE GRDN SPRT COR | 592,406 | $153.23M | 0.43% | $258.65 | — | 0% |
| 14 | SDGR | SCHRODINGER INC | 6,981,664 | $124.83M | 0.35% | $17.88 | — | 0% |
| 15 | WST | WEST PHARMACEUTICAL SVSC INC | 444,500 | $122.30M | 0.35% | $275.14 | — | 0% |
| 16 | PCAR | PACCAR INC | 1,000,000 | $109.51M | 0.31% | $109.51 | — | 0% |
| 17 | BUD | ANHEUSER BUSCH INBEV SA/NV | 1,703,000 | $109.06M | 0.31% | $64.04 | — | 0% |
| 18 | MCD | MCDONALDS CORP | 334,900 | $102.36M | 0.29% | $305.63 | — | 0% |
| 19 | DHR | DANAHER CORPORATION | 373,000 | $85.39M | 0.24% | $228.92 | — | 0% |
| 20 | KHC | KRAFT HEINZ CO | 2,472,600 | $59.96M | 0.17% | $24.25 | — | 0% |
| 21 | HRL | HORMEL FOODS CORP | 2,085,290 | $49.42M | 0.14% | $23.70 | — | 0% |
| 22 | ONON | ON HLDG AG | 500,000 | $23.24M | 0.07% | $46.48 | — | 0% |
| 23 | VLTO | VERALTO CORP | 124,333 | $12.41M | 0.04% | $99.78 | — | 0% |
Positions exited in Q4 2025
Source: SEC EDGAR 13F-HR filing Feb 17, 2026. Reported prices are derived from the filing's value-to-shares ratio (effectively the quarter-end mark). Filings are published with a 45-day delay. CIK 0001166559.