{
 "ok": true,
 "schema": "pops4.edgar.portfolio/1",
 "kind": "13F",
 "name": "GATES FOUNDATION TRUST",
 "cik": 1166559,
 "asOf": "2026-06-30",
 "filed": "2026-08-14",
 "source": {
  "holdingsReport": "https://www.sec.gov/Archives/edgar/data/1166559/000110465926097175/0001104659-26-097175-index.htm",
  "form": "13F-HR"
 },
 "unit": "portfolio",
 "holdings": {
  "lines": 24,
  "stocks": 24,
  "matchedWeight": 41.5,
  "stockWeight": 100,
  "lookedThrough": [],
  "notLookedThrough": []
 },
 "performance": {
  "ok": true,
  "from": "2026-03-31",
  "to": "2026-06-30",
  "return": 11.4,
  "benchmark": {
   "name": "iShares Core S&P 500 ETF (IVV)",
   "return": 14.6,
   "from": "a second pension’s 13Fs"
  },
  "vsBenchmark": -3.2,
  "rose": 17,
  "priced": 22,
  "coverage": 100,
  "addedMost": [
   {
    "name": "CATERPILLAR INC",
    "weight": 14.2,
    "price": 50.3,
    "points": 7.15
   },
   {
    "name": "CANADIAN NATL RY CO",
    "weight": 16.8,
    "price": 16,
    "points": 2.7
   },
   {
    "name": "BERKSHIRE HATHAWAY INC DEL",
    "weight": 25.8,
    "price": 4.4,
    "points": 1.14
   },
   {
    "name": "DEERE & CO",
    "weight": 6.3,
    "price": 12.6,
    "points": 0.8
   },
   {
    "name": "ECOLAB INC",
    "weight": 4.4,
    "price": 4.7,
    "points": 0.21
   }
  ],
  "costMost": [
   {
    "name": "WASTE MGMT INC DEL",
    "weight": 20.1,
    "price": -3,
    "points": -0.6
   },
   {
    "name": "FEDEX CORP",
    "weight": 2.7,
    "price": -12.1,
    "points": -0.32
   },
   {
    "name": "WALMART INC",
    "weight": 3.3,
    "price": -8.9,
    "points": -0.29
   },
   {
    "name": "MCDONALDS CORP",
    "weight": 0.3,
    "price": -13,
    "points": -0.04
   },
   {
    "name": "COUPANG INC",
    "weight": 0.6,
    "price": -8,
    "points": -0.04
   }
  ],
  "changes": {
   "newPositions": 2,
   "newShare": 1.5,
   "exited": 0,
   "exitedShare": 0,
   "addedTo": 0,
   "trimmed": 2,
   "bookValueFrom": 31665505891,
   "bookValueTo": 34424791932
  },
  "heldBack": [],
  "heldBackShare": 0,
  "sources": {
   "earlier": "https://www.sec.gov/Archives/edgar/data/1166559/000110465926062592/0001104659-26-062592-index.htm",
   "later": "https://www.sec.gov/Archives/edgar/data/1166559/000110465926097175/0001104659-26-097175-index.htm"
  },
  "meaning": "Price return of the stock book: the 2026-03-31 holdings valued at 2026-06-30 prices, both from the filer’s own 13Fs. Not the fund’s official return or funded status; dividends and trades between quarter ends are not in it."
 },
 "actuarial": {
  "top10Weight": 94.9,
  "effectiveHoldings": 6.5,
  "largestSector": {
   "name": "Industrials & services",
   "shareOfChecked": 64.1
  },
  "sectorMix": [
   {
    "name": "Industrials & services",
    "weight": 26.6,
    "shareOfChecked": 64.1
   },
   {
    "name": "Consumer",
    "weight": 7.2,
    "shareOfChecked": 17.3
   },
   {
    "name": "Materials",
    "weight": 4.2,
    "shareOfChecked": 10.2
   },
   {
    "name": "Transport",
    "weight": 2.2,
    "shareOfChecked": 5.2
   },
   {
    "name": "Utilities",
    "weight": 1,
    "shareOfChecked": 2.4
   },
   {
    "name": "Health care",
    "weight": 0.3,
    "shareOfChecked": 0.8
   }
  ],
  "revenueRange": {
   "weightedHalfWidth": 11,
   "coverage": 39.1,
   "meaning": "weighted average half-width of Edgarette’s 80% revenue ranges (method v4.1, tested on an unseen year) for the holdings she covers; wider = harder to predict"
  },
  "warningShare": 7,
  "checkedShare": 41.5,
  "speedCash": {
   "coverage": 39.1,
   "cashConversion": 15.9,
   "growth3y": 3,
   "dividendPayers": 98,
   "dividendRaisers": 96.6,
   "equityRatio": 26.5,
   "liabilitiesOverAssets": 0.7,
   "quadrants": {
    "fs": 11.4,
    "ss": 19.8,
    "fj": 51.1,
    "sj": 17.6
   },
   "compass": {
    "now": 13.8,
    "later": 0,
    "notyet": 1.2,
    "steady": 16.3,
    "fading": 16.8,
    "between": 52
   },
   "meaning": "weighted by the portfolio’s holdings, from each company’s own audited filings (SEC XBRL, fiscal 2025); shares are of the covered weight"
  },
  "expectedReturn": {
   "dividendYield": 0.9,
   "buybackYield": 0.9,
   "incomeYield": 1.8,
   "pe": 52.5,
   "growth": {
    "low": -11.2,
    "mid": -0.5,
    "high": 10.3
   },
   "valuationChange": 0,
   "range": {
    "low": -9.5,
    "mid": 1.3,
    "high": 12.1,
    "level": 80,
    "horizon": "next 12 months"
   },
   "coverage": {
    "yields": 38.9,
    "growth": 39.1,
    "pe": 38.9
   },
   "method": "Building blocks (Grinold–Kroner): income yield (common dividends + buybacks − shares issued for cash, ÷ market value) + revenue growth from Edgarette’s 80% ranges + valuation change taken as zero. Market value = reported price × diluted shares, fiscal 2025 filings. Each holding’s range averaged by weight, no diversification credit.",
   "meaning": "An assumption built by a published method from filed figures: not a promise, not a price forecast, not advice. Stock book only.",
   "receipt": {
    "loggedAt": "2026-10-07T17:43:31.553Z",
    "hash": "28fcba4d4b64c08df4a26b184e2dda449f171a99c23a56bbc8ebcb8e83a12bbe",
    "range": {
     "low": -9.9,
     "mid": 0.8,
     "high": 11.5,
     "level": 80,
     "horizon": "next 12 months"
    },
    "note": "Logged once and never edited; scored against the stock book’s actual return."
   }
  },
  "xrv": 1,
  "harbor": {
   "signs": [
    {
     "key": "warning",
     "text": "7% of the portfolio in companies with warning filings"
    },
    {
     "key": "concentration",
     "text": "the 10 largest holdings are 94.9% of the portfolio"
    }
   ],
   "rule": "Boat condition = number of warning signs: warning filings ≥ 5% of the portfolio; liabilities over assets ≥ 10%; slow and jumpy ≥ 30%; top 10 ≥ 60%; revenue ranges ≥ ±20%.",
   "level": 2,
   "name": "Weathered boat",
   "plain": "two warning signs"
  }
 },
 "risks": [
  "Concentrated: the 10 largest holdings are 94.9% of the portfolio.",
  "Behaves like about 6 equal holdings (effective number), so a few companies drive the result.",
  "Sector concentration: 64.1% of the checked holdings are Industrials & services.",
  "7% of the portfolio is in companies that filed warning events in the last 12 months.",
  "Health Watch covers only 41.5% of this portfolio; the rest is many small holdings not yet checked.",
  "Holdings are as of 2026-06-30; the portfolio may have changed since."
 ],
 "healthWatch": {
  "checked": {
   "holdings": 16,
   "weight": 41.5,
   "rule": "the 100 largest stock holdings matched to an SEC filer"
  },
  "flaggedWeight": 7,
  "flaggedMeaning": "share of the portfolio in checked holdings that filed a late-filing notice, bankruptcy, debt trigger, non-reliance, auditor change, restructuring, impairment or cyber incident in the last 12 months (leadership changes and listing notices or transfers are listed but not counted)",
  "bySignal": [
   {
    "code": "5.02",
    "label": "Director or officer change",
    "holdings": 14,
    "weight": 39.1
   },
   {
    "code": "2.05",
    "label": "Restructuring or exit costs",
    "holdings": 3,
    "weight": 6.5
   },
   {
    "code": "3.01",
    "label": "Exchange listing notice or transfer",
    "holdings": 2,
    "weight": 2.9
   },
   {
    "code": "1.05",
    "label": "Cybersecurity incident",
    "holdings": 1,
    "weight": 0.5
   }
  ]
 },
 "overlap": [],
 "top": [
  {
   "name": "BERKSHIRE HATHAWAY INC DEL",
   "cik": null,
   "ticker": null,
   "pct": 21.353
  },
  {
   "name": "CATERPILLAR INC",
   "cik": 18230,
   "ticker": "CAT",
   "pct": 19.654,
   "signals": [
    {
     "code": "5.02",
     "label": "Director or officer change",
     "count": 2,
     "latest": {
      "filed": "2026-04-10",
      "url": "https://www.sec.gov/Archives/edgar/data/18230/000110465926042062/0001104659-26-042062-index.htm"
     }
    }
   ],
   "compass": "between",
   "quadrant": "fj",
   "sector": "Industrials & services"
  },
  {
   "name": "CANADIAN NATL RY CO",
   "cik": null,
   "ticker": null,
   "pct": 17.952
  },
  {
   "name": "WASTE MGMT INC DEL",
   "cik": null,
   "ticker": null,
   "pct": 17.3
  },
  {
   "name": "DEERE & CO",
   "cik": 315189,
   "ticker": "DE",
   "pct": 6.555,
   "signals": [
    {
     "code": "5.02",
     "label": "Director or officer change",
     "count": 5,
     "latest": {
      "filed": "2026-06-01",
      "url": "https://www.sec.gov/Archives/edgar/data/315189/000110465926068930/0001104659-26-068930-index.htm"
     }
    }
   ],
   "compass": "fading",
   "quadrant": "sj",
   "sector": "Industrials & services"
  },
  {
   "name": "ECOLAB INC",
   "cik": 31462,
   "ticker": "ECL",
   "pct": 4.223,
   "signals": [
    {
     "code": "2.05",
     "label": "Restructuring or exit costs",
     "count": 1,
     "latest": {
      "filed": "2026-02-10",
      "url": "https://www.sec.gov/Archives/edgar/data/31462/000110465926012358/0001104659-26-012358-index.htm"
     }
    },
    {
     "code": "5.02",
     "label": "Director or officer change",
     "count": 3,
     "latest": {
      "filed": "2026-05-11",
      "url": "https://www.sec.gov/Archives/edgar/data/31462/000110465926058710/0001104659-26-058710-index.htm"
     }
    }
   ],
   "compass": "now",
   "quadrant": "ss",
   "sector": "Materials"
  },
  {
   "name": "WALMART INC",
   "cik": 104169,
   "ticker": "WMT",
   "pct": 2.761,
   "signals": [
    {
     "code": "3.01",
     "label": "Exchange listing notice or transfer",
     "count": 1,
     "latest": {
      "filed": "2025-11-20",
      "url": "https://www.sec.gov/Archives/edgar/data/104169/000010416925000177/0000104169-25-000177-index.htm"
     }
    },
    {
     "code": "5.02",
     "label": "Director or officer change",
     "count": 4,
     "latest": {
      "filed": "2026-01-16",
      "url": "https://www.sec.gov/Archives/edgar/data/104169/000010416926000023/0000104169-26-000023-index.htm"
     }
    }
   ],
   "compass": "steady",
   "quadrant": "fs",
   "sector": "Consumer"
  },
  {
   "name": "FEDEX CORP",
   "cik": 1048911,
   "ticker": "FDX",
   "pct": 2.169,
   "signals": [
    {
     "code": "2.05",
     "label": "Restructuring or exit costs",
     "count": 1,
     "latest": {
      "filed": "2026-01-29",
      "url": "https://www.sec.gov/Archives/edgar/data/1048911/000110465926007986/0001104659-26-007986-index.htm"
     }
    },
    {
     "code": "5.02",
     "label": "Director or officer change",
     "count": 8,
     "latest": {
      "filed": "2026-07-24",
      "url": "https://www.sec.gov/Archives/edgar/data/1048911/000110465926086643/0001104659-26-086643-index.htm"
     }
    }
   ],
   "compass": "steady",
   "quadrant": "ss",
   "sector": "Transport"
  },
  {
   "name": "COCA-COLA FEMSA SAB DE CV",
   "cik": 910631,
   "ticker": "KOF",
   "pct": 1.918,
   "signals": [],
   "sector": "Consumer"
  },
  {
   "name": "HOME DEPOT INC",
   "cik": 354950,
   "ticker": "HD",
   "pct": 1.024,
   "signals": [
    {
     "code": "5.02",
     "label": "Director or officer change",
     "count": 2,
     "latest": {
      "filed": "2026-08-21",
      "url": "https://www.sec.gov/Archives/edgar/data/354950/000035495026000148/0000354950-26-000148-index.htm"
     }
    }
   ],
   "compass": "steady",
   "quadrant": "ss",
   "sector": "Consumer"
  },
  {
   "name": "WASTE CONNECTIONS INC",
   "cik": 1318220,
   "ticker": "WCN",
   "pct": 0.987,
   "signals": [
    {
     "code": "5.02",
     "label": "Director or officer change",
     "count": 1,
     "latest": {
      "filed": "2026-03-18",
      "url": "https://www.sec.gov/Archives/edgar/data/1318220/000110465926031042/0001104659-26-031042-index.htm"
     }
    }
   ],
   "compass": "now",
   "quadrant": "fs",
   "sector": "Utilities"
  },
  {
   "name": "MADISON SQUARE GRDN SPRT COR",
   "cik": null,
   "ticker": null,
   "pct": 0.692
  },
  {
   "name": "FEDEX FGHT HLDG CO INC",
   "cik": null,
   "ticker": null,
   "pct": 0.523
  },
  {
   "name": "COUPANG INC",
   "cik": 1834584,
   "ticker": "CPNG",
   "pct": 0.467,
   "signals": [
    {
     "code": "1.05",
     "label": "Cybersecurity incident",
     "count": 1,
     "latest": {
      "filed": "2025-12-16",
      "url": "https://www.sec.gov/Archives/edgar/data/1834584/000183458425000196/0001834584-25-000196-index.htm"
     }
    },
    {
     "code": "5.02",
     "label": "Director or officer change",
     "count": 2,
     "latest": {
      "filed": "2026-02-06",
      "url": "https://www.sec.gov/Archives/edgar/data/1834584/000183458426000005/0001834584-26-000005-index.htm"
     }
    }
   ],
   "compass": "notyet",
   "quadrant": "fs",
   "sector": "Consumer"
  },
  {
   "name": "WEST PHARMACEUTICAL SVSC INC",
   "cik": null,
   "ticker": null,
   "pct": 0.464
  },
  {
   "name": "ANHEUSER BUSCH INBEV SA NV",
   "cik": 1668717,
   "ticker": "BUD",
   "pct": 0.408,
   "signals": [],
   "sector": "Consumer"
  },
  {
   "name": "PACCAR INC",
   "cik": 75362,
   "ticker": "PCAR",
   "pct": 0.349,
   "signals": [
    {
     "code": "5.02",
     "label": "Director or officer change",
     "count": 3,
     "latest": {
      "filed": "2026-05-01",
      "url": "https://www.sec.gov/Archives/edgar/data/75362/000119312526201546/0001193125-26-201546-index.htm"
     }
    }
   ],
   "compass": "between",
   "quadrant": "sj",
   "sector": "Industrials & services"
  },
  {
   "name": "SCHRODINGER INC",
   "cik": 1490978,
   "ticker": "SDGR",
   "pct": 0.33,
   "signals": [
    {
     "code": "5.02",
     "label": "Director or officer change",
     "count": 4,
     "latest": {
      "filed": "2026-06-23",
      "url": "https://www.sec.gov/Archives/edgar/data/1490978/000149097826000049/0001490978-26-000049-index.htm"
     }
    }
   ],
   "compass": "between",
   "quadrant": "fj",
   "sector": "Health care"
  },
  {
   "name": "MCDONALDS CORP",
   "cik": 63908,
   "ticker": "MCD",
   "pct": 0.263,
   "signals": [
    {
     "code": "5.02",
     "label": "Director or officer change",
     "count": 2,
     "latest": {
      "filed": "2026-08-04",
      "url": "https://www.sec.gov/Archives/edgar/data/63908/000006390826000069/0000063908-26-000069-index.htm"
     }
    }
   ],
   "compass": "steady",
   "quadrant": "fs",
   "sector": "Consumer"
  },
  {
   "name": "DANAHER CORP DEL",
   "cik": null,
   "ticker": null,
   "pct": 0.206
  },
  {
   "name": "KRAFT HEINZ CO",
   "cik": 1637459,
   "ticker": "KHC",
   "pct": 0.17,
   "signals": [
    {
     "code": "3.01",
     "label": "Exchange listing notice or transfer",
     "count": 1,
     "latest": {
      "filed": "2026-08-26",
      "url": "https://www.sec.gov/Archives/edgar/data/1637459/000163745926000057/0001637459-26-000057-index.htm"
     }
    },
    {
     "code": "5.02",
     "label": "Director or officer change",
     "count": 5,
     "latest": {
      "filed": "2026-10-06",
      "url": "https://www.sec.gov/Archives/edgar/data/1637459/000163745926000067/0001637459-26-000067-index.htm"
     }
    }
   ],
   "compass": "now",
   "quadrant": "ss",
   "sector": "Consumer"
  },
  {
   "name": "HORMEL FOODS CORP",
   "cik": 48465,
   "ticker": "HRL",
   "pct": 0.15,
   "signals": [
    {
     "code": "2.05",
     "label": "Restructuring or exit costs",
     "count": 1,
     "latest": {
      "filed": "2025-11-04",
      "url": "https://www.sec.gov/Archives/edgar/data/48465/000004846525000053/0000048465-25-000053-index.htm"
     }
    },
    {
     "code": "5.02",
     "label": "Director or officer change",
     "count": 5,
     "latest": {
      "filed": "2026-08-24",
      "url": "https://www.sec.gov/Archives/edgar/data/48465/000004846526000049/0000048465-26-000049-index.htm"
     }
    }
   ],
   "compass": "steady",
   "quadrant": "ss",
   "sector": "Consumer"
  },
  {
   "name": "ON HLDG AG",
   "cik": null,
   "ticker": null,
   "pct": 0.051
  },
  {
   "name": "VERALTO CORP",
   "cik": 1967680,
   "ticker": "VLTO",
   "pct": 0.032,
   "signals": [
    {
     "code": "5.02",
     "label": "Director or officer change",
     "count": 1,
     "latest": {
      "filed": "2025-11-03",
      "url": "https://www.sec.gov/Archives/edgar/data/1967680/000196768025000139/0001967680-25-000139-index.htm"
     }
    }
   ],
   "compass": "now",
   "quadrant": "ss",
   "sector": "Industrials & services"
  }
 ],
 "notes": [
  "13F lists US stocks and options only: no bonds, cash, private assets or liabilities, so it shows the stock book, not the funded status.",
  "Holdings are matched to SEC filers by ticker or name; the measures cover the matched share shown.",
  "Display only: a description from SEC filings, not a rating and not investment advice. Nothing pasted here is stored."
 ],
 "license": "CC BY 4.0, POPS4. Holdings from the filer’s own SEC report or as entered.",
 "committee": {
  "groups": [
   {
    "type": "Insurers",
    "n": 10,
    "median": 10,
    "members": [
     {
      "name": "Travelers",
      "cik": 86312,
      "return": 27.4
     },
     {
      "name": "Ameriprise Financial",
      "cik": 820027,
      "return": 14.2
     },
     {
      "name": "Prudential Financial",
      "cik": 1137774,
      "return": 13
     },
     {
      "name": "Allstate",
      "cik": 899051,
      "return": 11.6
     },
     {
      "name": "Cincinnati Financial",
      "cik": 20286,
      "return": 10.2
     },
     {
      "name": "MassMutual",
      "cik": 225602,
      "return": 9.7
     },
     {
      "name": "Markel",
      "cik": 1096343,
      "return": 9.3
     },
     {
      "name": "Berkshire Hathaway",
      "cik": 1067983,
      "return": 8
     },
     {
      "name": "MetLife",
      "cik": 1099219,
      "return": 6.1
     },
     {
      "name": "Loews",
      "cik": 60086,
      "return": 5.8
     }
    ]
   },
   {
    "type": "Endowments & foundations",
    "n": 2,
    "median": 11.7,
    "members": [
     {
      "name": "Harvard Management Co",
      "cik": 1082621,
      "return": 11.9
     },
     {
      "name": "Gates Foundation Trust",
      "cik": 1166559,
      "return": 11.4
     }
    ]
   },
   {
    "type": "Managers",
    "n": 2,
    "median": 15.6,
    "members": [
     {
      "name": "Bridgewater Associates",
      "cik": 1350694,
      "return": 19.6
     },
     {
      "name": "Renaissance Technologies",
      "cik": 1037389,
      "return": 11.6
     }
    ]
   },
   {
    "type": "Banks",
    "n": 2,
    "median": 13.6,
    "members": [
     {
      "name": "Goldman Sachs",
      "cik": 886982,
      "return": 14.7
     },
     {
      "name": "JPMorgan Chase",
      "cik": 19617,
      "return": 12.4
     }
    ]
   },
   {
    "type": "Pensions",
    "n": 7,
    "median": 14.6,
    "members": [
     {
      "name": "CalPERS",
      "cik": 919079,
      "return": 15
     },
     {
      "name": "CalSTRS",
      "cik": 1081019,
      "return": 15
     },
     {
      "name": "New York State Teachers",
      "cik": 314969,
      "return": 14.7
     },
     {
      "name": "New York State Common",
      "cik": 810265,
      "return": 14.6
     },
     {
      "name": "Kentucky Teachers",
      "cik": 714142,
      "return": 14.1
     },
     {
      "name": "Wisconsin Investment Board",
      "cik": 854157,
      "return": 13.9
     },
     {
      "name": "Maryland State Retirement",
      "cik": 1795552,
      "return": 9.4
     }
    ]
   }
  ]
 },
 "disclaimer": "Data & Disclosure Notice: Edgar and Edgarette are automated software. Every figure on this page is calculated by software from public filings made by companies and funds with the U.S. Securities and Exchange Commission (EDGAR) and is published without individual human review. The accuracy and completeness of those filings are the responsibility of the filers; reports can contain errors and can be amended. Figures are shown as filed and as of each filing's date, and this page may be corrected or updated without notice. Ranges, expected returns, rankings, boats and other measures are statistical descriptions of past filings, not ratings, price forecasts, company guidance or recommendations; past results do not guarantee future results. This is general information published for all readers, not advice tailored to any person's portfolio, needs or circumstances, and nothing here is financial, investment, actuarial, legal, tax or other professional advice. Actuaries and other professionals who use these figures remain responsible for reviewing them for reasonableness and consistency against the original filings and for disclosing their reliance on them. No company, fund or reinsurer pays to be included or ranked. Provided as is, without warranty of any kind. Not affiliated with or endorsed by the SEC or by any company, fund or reinsurer named. All trademarks remain the property of their owners."
}