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Gates Foundation’s cannibal stocks

Gates Foundation Trust · 13F for Q2 2026

7cannibals held
$17.1Bin these positions
Q2 2026latest 13F filing

Caterpillar

CATUnchanged
$6.8B6,353,614 shares

Caterpillar retired 1.8% of its shares in twelve months, so this stake grew 1.8% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026
$6.0B26,720,744 shares

Waste Management retired 0.8% of its shares in twelve months, so this stake grew 0.8% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

Deere &

DEUnchanged
$2.3B3,557,378 shares

Deere & retired 0.3% of its shares in twelve months, so this stake grew 0.3% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

Walmart

WMTUnchanged
$950.3M8,390,477 shares

Walmart retired 0.5% of its shares in twelve months, so this stake grew 0.5% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

Fedex

FDXUnchanged
$746.6M2,384,362 shares

Fedex has retired 25.4% of its shares since its peak.

Shares held, 8 quarters
Q3 2024Q2 2026
$352.7M1,000,000 shares

Home Depot has retired 57.5% of its shares since its peak.

Shares held, 8 quarters
Q3 2024Q2 2026

McDonald's

MCDUnchanged
$90.5M334,900 shares

McDonald's retired 0.6% of its shares in twelve months, so this stake grew 0.6% without buying a share.

Shares held, 8 quarters
Q3 2024Q2 2026

Values as reported in the 13F at quarter end. See the Q2 2026 filing on EDGAR.

Questions

Which cannibal stocks does Gates Foundation own?

In the Q2 2026 13F, Gates Foundation Trust held CAT, WM, DE, WMT, FDX, HD, MCD. 7 of them are on the Buyback Radar leaderboard.

Where does this data come from?

From Gates Foundation Trust's 13F filings with the SEC, the last eight quarters, amendments applied, options excluded. A 13F shows US-listed stock positions at quarter end and is filed up to 45 days later, so it is a record, not a live portfolio.

How do buybacks help Gates Foundation?

Caterpillar retired 1.8% of its shares in the last twelve months. That alone made every remaining share, including Gates Foundation's 6,353,614, 1.8% bigger as a slice of the company, without buying anything.

Gates Foundation’s moves in companies like these are covered on Cannibal Stocks.

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