Institutional 13F · Context Only · Never a Buy List机构 13F · 仅供背景参考 · 非买入清单
Gates Foundation Trust
superinvestor_value
B
Reliability stable可靠性稳定
leaderboard rank榜单排名 #24
Book持仓规模
$31.7B
long US listed only仅美股多头
Positions持仓数
22
96% resolved已解析
Top-10 concentration前十集中度
96%
% of book占组合%
Turnover换手
LOW
6.6% per quarter每季
Median excess中位超额
-12%
buys vs SPY, since filing买入相对SPY，自申报起 · n 57
Hit rate胜率
42%
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
No thematic add cluster this quarter — the latest buys do not map to a tracked theme.本季度无主题性加仓集群——最新买入未映射到任何跟踪主题。
Descriptive read of the latest filing — themes clustered from curated baskets (Finviz fallback), added-pp = Σ % of book bought this quarter. Not a forecast.基于最新申报的描述性解读——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，以公开申报日为锚相对SPY评分——精选幸存者队列中的描述性排名Reliability可靠性: stable稳定 · 2 scored quarters已评分季度 · 50% positive为正 · recent-4 median近4季中位 -2% vs all-time对全期 -2%
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 |
|---|---|---|---|---|
| 2023-09-30 | 48 | -12% | 44% | +0% |
| 2024-09-30 | 2 | +8% | 50% | — |
Sector exposure & rotation行业配置与轮动
value-weighted, latest filing; QoQ deltas vs prior quarter按市值加权，最新申报；季度环比变化对上季Current weights当前权重 · 2026-03-31
Industrials
43.7%
▲ +8.4pp
Financial
25.8%
▼ -1.8pp
Unclassified
20.8%
▲ +2.6pp
Basic Materials
4.4%
▲ +0.5pp
Consumer Defensive
3.6%
▲ +0.7pp
Communication Services
0.6%
▲ +0.2pp
Healthcare
0.6%
▼ -0.0pp
Consumer Cyclical
0.3%
▲ +0.0pp
Health Care
0.2%
▼ -0.1pp
Theme categories主题类别
US Sectors (EW) 54.2%
Industrials & Defense 20.5%
Consumer Defensive 3.3%
Healthcare 0.3%
Rotating into (QoQ)轮入（环比）
Industrials +8.4pp
Consumer Defensive +0.7pp
Basic Materials +0.5pp
Rotating out of (QoQ)轮出（环比）
Technology -10.5pp
Financial -1.8pp
Health Care -0.1pp
Quarter history — top-3 sectors季度历史 — 前三大行业
| 2026-03-31 | Industrials 44% · Financial 26% · Unclassified 21% |
| 2025-12-31 | Industrials 35% · Financial 28% · Unclassified 18% |
| 2025-09-30 | Industrials 32% · Financial 30% · Unclassified 17% |
| 2025-06-30 | Technology 27% · Industrials 27% · Financial 25% |
| 2025-03-31 | Industrials 30% · Technology 26% · Financial 22% |
| 2024-12-31 | Technology 29% · Industrials 28% · Financial 21% |
| 2024-09-30 | Technology 28% · Industrials 27% · Financial 23% |
| 2024-06-30 | Technology 33% · Industrials 25% · Financial 21% |
| 2024-03-31 | Technology 33% · Industrials 27% · Unclassified 18% |
| 2023-12-31 | Technology 34% · Industrials 25% · Unclassified 19% |
| 2023-09-30 | Technology 32% · Industrials 24% · Financial 20% |
| 2023-06-30 | Technology 32% · Industrials 24% · 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.截至申报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。21 positions shown项持仓 · resolved已解析 21/22 (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自申报 ↕ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 |  BRK-B |
Berkshire Hathaway Inc Del | 25.8% | $8.2B | trim | -12% | — | 70 · HIGH | Financial | Financials (Equal-Weight) | -1% |
| 2 |  WM |
Waste Mgmt Inc Del | 20.1% | $6.4B | hold | -4% | — | 68 · MODERATE | Industrials | Industrials (Equal-Weight) | +4% |
| 3 |  CNI |
Canadian Natl Ry Co | 16.8% | $5.3B | hold | +0% | — | 67 · MODERATE | — | Rail | — |
| 4 |  CAT |
Caterpillar Inc | 14.2% | $4.5B | hold | +0% | — | 65 · MODERATE | Industrials | Reshoring & Industrial Capex, Industrials (Equal-Weight) | -3% |
| 5 |  DE |
Deere & Co | 6.3% | $2.0B | hold | +0% | — | 63 · MODERATE | Industrials | Reshoring & Industrial Capex, Industrials (Equal-Weight) | +5% |
| 6 |  ECL |
Ecolab Inc | 4.4% | $1.4B | hold | +0% | — | 52 · MODERATE | Basic Materials | Materials (Equal-Weight) | +7% |
| 7 |  WMT |
Walmart Inc | 3.3% | $1.0B | hold | +0% | — | 50 · MODERATE | Consumer Defensive | Defensives, Retail, Consumer Staples (Equal-Weight) | -14% |
| 8 |  FDX |
Fedex Corp | 2.7% | $849M | hold | +0% | — | 48 · MODERATE | Industrials | Industrials (Equal-Weight) | +1% |
| 9 |  KOF |
Coca-Cola Femsa Sab De Cv | 1.9% | $606M | hold | +0% | — | 47 · MODERATE | — | — | — |
| 10 |  WCN |
Waste Connections Inc | 1.1% | $331M | hold | +0% | — | 45 · MODERATE | — | Waste | — |
| 11 |  MSGS |
Madison Square Grdn Sprt Cor | 0.6% | $190M | hold | +0% | — | 28 · LOW | Communication Services | — | +9% |
| 12 |  CPNG |
Coupang Inc | 0.6% | $175M | hold | +0% | — | 27 · LOW | — | E-Commerce, Grocery | +3% |
| 13 |  BUD |
Anheuser Busch Inbev Sa Nv | 0.4% | $118M | hold | +0% | — | 25 · LOW | — | — | — |
| 14 |  PCAR |
Paccar Inc | 0.4% | $116M | hold | +0% | — | 23 · LOW | Industrials | Industrials (Equal-Weight) | +10% |
| 15 |  WST |
West Pharmaceutical Svsc Inc | 0.3% | $111M | hold | +0% | — | 22 · LOW | Healthcare | GLP-1 & Obesity, Health Care (Equal-Weight) | +16% |
| 16 |  MCD |
Mcdonalds Corp | 0.3% | $104M | hold | +0% | — | 20 · LOW | Consumer Cyclical | Consumer Discretionary (Equal-Weight) | -2% |
| 17 |  SDGR |
Schrodinger Inc | 0.2% | $79M | hold | +0% | — | 18 · LOW | Health Care | — | +34% |
| 18 |  DHR |
Danaher Corp Del | 0.2% | $71M | hold | +0% | — | 17 · LOW | Healthcare | Health Care (Equal-Weight) | +25% |
| 19 |  KHC |
Kraft Heinz Co | 0.2% | $56M | hold | +0% | — | 15 · LOW | Consumer Defensive | Consumer Staples (Equal-Weight) | +15% |
| 20 |  HRL |
Hormel Foods Corp | 0.1% | $47M | hold | +0% | — | 13 · LOW | Consumer Defensive | Consumer Staples (Equal-Weight) | +25% |
| 21 |  VLTO |
Veralto Corp | 0.0% | $11M | hold | +0% | — | 12 · LOW | Industrials | Industrials (Equal-Weight) | +10% |
Rotation detail轮动明细
this filing cycle, uncapped — adds/new and trims from the resolved book, exits from the rotation feed本申报周期，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 (0)
| no new buys this cycle本周期无新买入 |
Rotated out of轮出 (2)
| BRK-B trim |
-12% | -1% |
 MSFT exit |
-100% | -6% |
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，以申报日为锚，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, long-only US listed ≥$100M. 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——衡量申报日之后持仓的表现，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。