# Bill & Melinda Gates Foundation Trust

Bill & Melinda Gates Foundation Trust is an Endowment / Foundation based in Johannesburg, South Africa.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Johannesburg, South Africa
- **Region:** North America
- **Address:** Johannesburg, Washington, South Africa
- **Founded:** 2000
- **Assets under management:** 77200 (Altss estimate)
- **Website:** gatesfoundation.org
- **LinkedIn:** https://gatesfoundation.org

## Regulatory record

- **Reports private funds:** No

## About

The Bill & Melinda Gates Foundation Trust was established to manage the endowment supporting the Bill & Melinda Gates Foundation. Bill Gates and Melinda French Gates created the Foundation in 2000 with Warren Buffett as a major donor. The Trust operates separately from the grant-making entity yet supplies the capital for its programs. The Trust maintains a concentrated public equity book alongside private investments.59 percent, Waste Management at 17.98 percent, and Canadian National Railway at 14.49 percent as of Q4 2025. Additional positions cover Microsoft, Caterpillar, and Deere. Private holdings include 1mg Technologies in India and Schrodinger in the United States. The geographic footprint centers on North America with exposure to India and Latin America through specific holdings. The portfolio mixes long-term public equity with programmatic private investments executed through the Strategic Investment Fund. The Trust reports 2167 professionals. It maintains a real estate arm and an art collection that includes the Codex Leicester and a Winslow Homer painting. Two Gulfstream G650ER aircraft support travel requirements. In September 2025 the Trust sponsored the Goalkeepers event in New York focused on Sustainable Development Goals. The Foundation itself has distributed over $83 billion in grants since inception. The Trust's architecture separates endowment management from grant decisions through an external advisor relationship with Cascade Asset Management Company. This arrangement allows the Foundation to maintain liquidity for annual payouts while the advisor executes the public market strategy. The structure also incorporates a dedicated Strategic Investment Fund for private and impact positions.

## Sectors

- Healthcare Services
- Education
- AgriTech & FoodTech
- Energy Transition & Renewables

## People

- Bill Gates — Trustee

## Questions

### Who runs investment decisions at the Bill & Melinda Gates Foundation Trust?

Michael Larson at Cascade Asset Management Company serves as the primary investment advisor. The Trust maintains oversight through its trustees including Bill Gates.

### Does the Trust participate in fund commitments or only direct deals?

The Trust holds both public equities and direct private positions. It commits to vehicles such as the Global Health Investment Fund through its Strategic Investment Fund.

### What investment stages does the Trust typically target?

Public equity holdings dominate the portfolio. Private investments focus on operating businesses and early-stage companies in healthcare and technology sectors.

### How is the Trust related to the Bill & Melinda Gates Foundation?

The Trust holds and manages the endowment assets. It transfers capital to the Foundation for grant-making activities on an annual basis.

### What is the Trust's known posture on co-investments alongside external GPs?

The Trust acts as a limited partner in selected funds including the Global Health Investment Fund. It also maintains direct ownership in certain private companies.

## Related profiles

- [Flossbach von Storch Family Office](https://altss.com/profile/flossbach-von-storch-family-office)
- [PPM America](https://altss.com/profile/ppmamerica)

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Last updated: 2026-07-06T00:31:27.535Z

Canonical page: https://altss.com/profile/bill-melinda-gates-foundation-trust

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