Institutional 13F · Context Only · Never a Buy List机构 13F · 仅供参考 · 非买入清单
Gates Foundation Trust
superinvestor_value
B
Reliability stable可靠性稳定
leaderboard rank榜单排名 #27FADE淡出
Book持仓规模
$34.4B
long US listed only仅美股多头
Positions持仓数
24
96% resolved已解析
Top-10 concentration前十集中度
95%
% of book占组合%
Turnover换手
LOW
6.8% per quarter每季
Median excess中位超额
-13%
buys vs SPY, since filing买入相对SPY，自披露起 · n 61
Hit rate胜率
38%
share of buys beating SPY跑赢SPY的买入占比
Core lean — the 10-second read核心倾向 — 10秒速读
Core lean: Housing Chain — added HD (+1.0pp of book this quarter)核心倾向：住房产业链 — 本季度加仓 HD（占组合 +1.0pp）
Housing Chain住房产业链
+1.0pp
1.0% of book held占组合持有
· 1 names标的
· Consumer Cyclical
HD
Retail零售
+1.0pp
3.8% of book held占组合持有
· 2 names标的
· Consumer Cyclical
HD
Consumer Discretionary (Equal-Weight)非必需消费（等权）
+1.0pp
1.3% of book held占组合持有
· 2 names标的
· US Sectors (EW)
HD
Industrials (Equal-Weight)工业（等权）
+0.5pp
46.6% of book held占组合持有
· 7 names标的
· US Sectors (EW)
FDXF
Descriptive read of the latest filing — themes clustered from curated baskets (Finviz fallback), added-pp = Σ % of book bought this quarter. Not a forecast.基于最新披露的描述性解读——主题按精选篮子聚类（Finviz 兜底），added-pp = 本季度买入占组合百分比之和。非预测。
Grade & excess history评级与超额历史
per-quarter buy cohorts, scored on public filing dates vs SPY — descriptive ranks in a curated survivor cohort按季度买入队列，以公开披露日为锚相对SPY评分——精选幸存者队列中的描述性排名Reliability可靠性: stable稳定 · 4 scored quarters已评分季度 · 0% positive为正 · recent-4 median近4季中位 -10% vs all-time对全期 -10%
Median excess by quarter各季度中位超额: ▁▆█▇ (oldest → newest, shifted by the series minimum so negatives render由旧到新，按序列最小值平移以呈现负值)
| Quarter季度 | Buys买入数 | Median excess中位超额 | Hit胜率 | Median fwd 63d中位前瞻63日 |
|---|---|---|---|---|
| 2023-06-30 | 2 | -33% | 0% | +3% |
| 2023-09-30 | 49 | -13% | 41% | +1% |
| 2024-09-30 | 2 | -7% | 50% | -10% |
| 2026-06-30 | 2 | -8% | 0% | — |
Sector exposure & rotation行业配置与轮动
value-weighted, latest filing; QoQ deltas vs prior quarter按市值加权，最新披露；季度环比变化对上季Current weights当前权重 · 2026-06-30
Industrials
65.5%
▲ +4.0pp
Financial
21.4%
▼ -4.5pp
Consumer Defensive
5.4%
▼ -0.5pp
Basic Materials
4.2%
▼ -0.2pp
Consumer Cyclical
1.3%
▲ +1.0pp
Healthcare
1.0%
▲ +0.2pp
Communication Services
0.7%
▲ +0.1pp
Technology
0.5%
▼ -0.1pp
Unclassified
0.1%
▲ +0.0pp
Theme categories主题类别
US Sectors (EW) 46.7%
Industrials & Defense 26.2%
Consumer Defensive 2.8%
Consumer Cyclical 1.0%
Healthcare 0.5%
Rotating into (QoQ)轮入（环比）
Industrials +4.0pp
Consumer Cyclical +1.0pp
Healthcare +0.2pp
Rotating out of (QoQ)轮出（环比）
Financial -4.5pp
Consumer Defensive -0.5pp
Basic Materials -0.2pp
Quarter history — top-3 sectors季度历史 — 前三大行业
| 2026-06-30 | Industrials 66% · Financial 21% · Consumer Defensive 5% |
| 2026-03-31 | Industrials 62% · Financial 26% · Consumer Defensive 6% |
| 2025-12-31 | Industrials 51% · Financial 28% · Technology 11% |
| 2025-09-30 | Industrials 46% · Financial 30% · Technology 14% |
| 2025-06-30 | Industrials 40% · Technology 28% · Financial 25% |
| 2025-03-31 | Industrials 43% · Technology 26% · Financial 22% |
| 2024-12-31 | Industrials 42% · Technology 29% · Financial 21% |
| 2024-09-30 | Industrials 42% · Technology 28% · Financial 23% |
| 2024-06-30 | Industrials 39% · Technology 33% · Financial 21% |
| 2024-03-31 | Industrials 43% · Technology 34% · Financial 16% |
| 2023-12-31 | Industrials 42% · Technology 34% · Financial 17% |
| 2023-09-30 | Industrials 40% · Technology 32% · Financial 20% |
Full book完整持仓
every resolved position as filed — click a column header to sort. Conviction is a descriptive composite, not a forecast.截至披露日的全部已解析持仓——点击列头排序。信念分为描述性综合指标，非预测。23 positions shown项持仓 · resolved已解析 23/24 (96%) · unresolved CUSIPs are excluded from this table but counted in book totals未解析CUSIP不列入本表，但计入组合总额
| #↕ | Ticker标的 ↕ | Company公司 ↕ | % book仓位% ↕ | Value金额 ↕ | Action动作 ↕ | Δ sharesΔ股数 ↕ | Add streak连加季数 ↕ | Conviction信念分 ↕ | Sector行业 ↕ | Themes主题 | Since filing自披露 ↕ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 |  BRK-B |
Berkshire Hathaway Inc Del | 21.4% | $7.4B | trim | -14% | — | 70 · HIGH | Financial | Financials (Equal-Weight) | +4% |
| 2 |  CAT |
Caterpillar Inc | 19.6% | $6.8B | hold | +0% | — | 68 · MODERATE | Industrials | Reshoring & Industrial Capex, Industrials (Equal-Weight) | -10% |
| 3 |  CNI |
Canadian Natl Ry Co | 17.9% | $6.2B | hold | +0% | — | 67 · MODERATE | Industrials | Rail | -2% |
| 4 |  WM |
Waste Mgmt Inc Del | 17.3% | $6.0B | hold | -3% | — | 65 · MODERATE | Industrials | Industrials (Equal-Weight) | -2% |
| 5 |  DE |
Deere & Co | 6.6% | $2.3B | hold | +0% | — | 64 · MODERATE | Industrials | Reshoring & Industrial Capex, Industrials (Equal-Weight) | +15% |
| 6 |  ECL |
Ecolab Inc | 4.2% | $1.5B | hold | +0% | — | 52 · MODERATE | Basic Materials | Materials (Equal-Weight) | +1% |
| 7 |  WMT |
Walmart Inc | 2.8% | $950M | hold | +0% | — | 51 · MODERATE | Consumer Defensive | Defensives, Retail, Consumer Staples (Equal-Weight) | -3% |
| 8 |  FDX |
Fedex Corp | 2.2% | $747M | hold | +0% | — | 49 · MODERATE | Industrials | Industrials (Equal-Weight) | -5% |
| 9 |  KOF |
Coca-Cola Femsa Sab De Cv | 1.9% | $660M | hold | +0% | — | 48 · MODERATE | Consumer Defensive | — | — |
| 10 | HD |
Home Depot Inc | 1.0% | $353M | new | — | 1q | 51 · MODERATE | Consumer Cyclical | Housing Chain, Retail, Consumer Discretionary (Equal-Weight) | -6% |
| 11 |  WCN |
Waste Connections Inc | 1.0% | $340M | hold | +0% | — | 30 · LOW | Industrials | Waste | -1% |
| 12 |  MSGS |
Madison Square Grdn Sprt Cor | 0.7% | $238M | hold | +0% | — | 28 · LOW | Communication Services | — | -4% |
| 13 | FDXF |
Fedex Fght Hldg Co Inc | 0.5% | $180M | new | — | 1q | 22 · LOW | Industrials | Industrials (Equal-Weight) | -10% |
| 14 |  CPNG |
Coupang Inc | 0.5% | $161M | hold | +0% | — | 25 · LOW | Technology | E-Commerce, Grocery | -2% |
| 15 |  WST |
West Pharmaceutical Svsc Inc | 0.5% | $160M | hold | +0% | — | 24 · LOW | Healthcare | GLP-1 & Obesity, Health Care (Equal-Weight) | +1% |
| 16 |  BUD |
Anheuser Busch Inbev Sa Nv | 0.4% | $140M | hold | +0% | — | 22 · LOW | Consumer Defensive | — | +2% |
| 17 |  PCAR |
Paccar Inc | 0.3% | $120M | hold | +0% | — | 21 · LOW | Industrials | Industrials (Equal-Weight) | -6% |
| 18 |  SDGR |
Schrodinger Inc | 0.3% | $113M | hold | +0% | — | 19 · LOW | Healthcare | — | +12% |
| 19 |  MCD |
Mcdonalds Corp | 0.3% | $91M | hold | +0% | — | 18 · LOW | Consumer Cyclical | Consumer Discretionary (Equal-Weight) | -1% |
| 20 |  DHR |
Danaher Corp Del | 0.2% | $71M | hold | +0% | — | 16 · LOW | Healthcare | Health Care (Equal-Weight) | +2% |
| 21 |  KHC |
Kraft Heinz Co | 0.2% | $58M | hold | +0% | — | 15 · LOW | Consumer Defensive | Consumer Staples (Equal-Weight) | +1% |
| 22 |  HRL |
Hormel Foods Corp | 0.1% | $52M | hold | +0% | — | 13 · LOW | Consumer Defensive | Consumer Staples (Equal-Weight) | -10% |
| 23 |  VLTO |
Veralto Corp | 0.0% | $11M | hold | +0% | — | 12 · LOW | Industrials | Industrials (Equal-Weight) | +1% |
Rotation detail轮动明细
this filing cycle, uncapped — adds/new and trims from the resolved book, exits from the rotation feed本披露周期，不设上限——新建/加仓与减持取自已解析持仓，清仓取自轮动数据Rotated into轮入 (2)
| HD new |
1.0% | -6% |
| FDXF new |
0.5% | -10% |
Rotated out of轮出 (1)
| BRK-B trim |
-14% | +4% |
Trade log交易记录
last 40 graded trades, filing-date anchored, newest first — variable hold vs SPY最近40笔已评分交易，以披露日为锚，最新在前——持有期不定，相对SPYNo graded trades available for this fund.该基金暂无已评分交易。
Caveats注意事项 —
13F = quarterly, ~45-day lag, reported long positions from managers with at least $100M in Section 13(f) securities. No shorts, no cash, no non-US positions. This desk is context — ownership is never a directional signal here.13F = 季度披露，约45天滞后，仅含美股多头且持仓≥1亿美元。不含空头、现金或非美股仓位。本台仅为背景参考——持仓数据在此永远不是方向性信号。
Grades and reliability are descriptive ranks within a curated survivor cohort — they measure what filings did after their filing dates, not a manager-selection edge. Conviction and core-lean reads are descriptive composites earning a forward record via the pre-registered ledger (L5); sector/theme classification applies the current map to history.评级与可靠性为精选幸存者队列中的描述性排名——衡量披露日之后持仓的表现，而非经理选择能力。信念分与核心倾向为描述性综合指标，通过预注册账本（L5）积累前瞻记录；行业/主题分类将当前映射应用于历史。