§ 13F · FUND PROFILE
Cascade Investment (Gates).
Cascade Investment is the family office of Microsoft co-founder Bill Gates, managing approximately $224 billion in assets with a focused portfolio of 74 positions. The fund is known for its concentrated approach to large-cap equity investments, with significant exposure to broad market ETFs like QQQ and SPY, reflecting a preference for diversified technology and market-wide exposure.
AUM · $224.0T (13F)Positions · 74Turnover · — · Q4Filed · Jan 27, 2026
CONCENTRATION
—
Top 10 holdings
NEW BUYS
0
+$1.1T deployed
EXITS
0
No exits
SECTOR SHIFT
—
No prior quarter data
3YR HIT RATE
—
Top-5 overlap
§ 01 · TOP HOLDINGS
The book · Q4 2025
FILED JAN 27, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q4 |
|---|---|---|---|---|---|---|
| 1 | QQQ | INVESCO QQQ TR | 74K | $45.6T | 17.8% | −1% |
| 2 | SPY | SPDR S&P 500 ETF TR | 57K | $39.0T | 15.3% | ±0% |
| 3 | DIA | SPDR DOW JONES INDL AVERAGE | 53K | $25.6T | 10.0% | +1% |
| 4 | AAPL | APPLE INC | 89K | $24.3T | 9.5% | +1% |
| 5 | NVDA | NVIDIA CORPORATION | 87K | $16.2T | 6.3% | −1% |
| 6 | AMZN | AMAZON COM INC | 64K | $14.7T | 5.8% | ±0% |
| 7 | GOOG | ALPHABET INC | 36K | $11.4T | 4.5% | −2% |
| 8 | JPM | JPMORGAN CHASE & CO. | 25K | $8.0T | 3.1% | +1% |
| 9 | SDY | SPDR SERIES TRUST | 41K | $5.7T | 2.2% | +9% |
| 10 | V | VISA INC | 15K | $5.3T | 2.1% | +2% |
§ 02 · SECTOR ALLOCATION
Where the money is
Sector data pending
§ 03 · THE CASCADE SIGNAL
AC read
Cascade Investment (Gates) is classified as a Other Institutional fund with $224.0B in AUM across 74 positions. With a quarterly turnover of unknown and an HHI of unknown, this is a unknown concentration, unknown activity portfolio. This quarter saw 0 new positions and 0 exits.
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
1 FILINGS
Q4 2025
Steady book
+0 buys · −0 exits · 0 changed
Q3 2025
Steady book
+0 buys · −0 exits · 0 changed
Q2 2025
Steady book
+0 buys · −0 exits · 0 changed
Q1 2025
Steady book
+0 buys · −0 exits · 0 changed