2026-08-05T13:02:50-05:00 2025-09-30 PwC US Tax LLP 300 Madison Avenue New York NY 10017 990PF 2024-10-01 986038021 THE WELLCOME TRUST % THE WELLCOME TRUST WELL 2076118638 215 EUSTON ROAD LONDON ENGLAND UK NW1 2BE JOANNA KLAENTSCHI HEAD OF TAX 2076118638 2026-08-04 true true ANNE PANCHERI P01494192 6464713000 2026-08-04 2024 2025-03-06 01:10:19Z X X X 57932370800 X 0 X 647985462 104062079 58645957 1656486471 -120564568 5577511 2242553322 109639590 2356311 160229132 10472492 70558417 119386412 14923302 13614240 132738841 524279147 0 0 2032579851 0 2556858998 0 0 -314305676 109639590 11401050 10365740 10365740 2557780 2548470 2557780 2557780 9791490 5250180 5250180 53830258770 57654111260 57654111260 501055640 241912140 261016980 259143500 259143500 115083540 942340 942340 54230100300 57932370800 57932370800 502585110 425264580 4972064970 5545536280 4520046870 5076654820 9994696950 11047455680 44235403350 46884915120 54230100300 57932370800 44235403350 -314305676 2963817446 46884915120 46884915120 4385584 4385584 4385584 0 4557807 4557807 172223 0 172223 false false false false false true true false true false false false false false false WWW.WELLCOME.ORG THE WELLCOME TRUST 2076118638 215 EUSTON ROAD LONDON ENGLAND UK NW1 2BE true UK false false false true false false false false true false false false false false false false false false false false false CILLA SNOWBALL 215 EUSTON ROAD LONDON ENGLAND UK NW1 2BE DIRECTOR 7.0 93014 0 0 RICHARD GILLINGWATER 215 EUSTON ROAD LONDON ENGLAND UK NW1 2BE DIRECTOR 7.0 93014 0 0 AS SY 215 EUSTON ROAD LONDON ENGLAND UK NW1 2BE DIRECTOR 7.0 93014 0 0 PROFESSOR JULIA GILLARD 215 EUSTON ROAD LONDON ENGLAND UK NW1 2BE CHAIR 21.0 248863 0 0 ARUP CHAKRABORTY 215 EUSTON ROAD LONDON ENGLAND UK NW1 2BE DIRECTOR THRU 06/2025 7.0 69761 0 0 GABRIEL LEUNG 215 EUSTON ROAD LONDON ENGLAND UK NW1 2BE DIRECTOR 7.0 93014 0 0 IJEOMA UCHEGBU 215 EUSTON ROAD LONDON ENGLAND UK NW1 2BE DIRECTOR 7.0 93014 0 0 FIONA POWRIE 215 EUSTON ROAD LONDON ENGLAND UK NW1 2BE DIRECTOR/DEPUTY CHAIR 7.0 139521 0 0 DIANA NOBLE 215 EUSTON ROAD LONDON ENGLAND UK NW1 2BE DIRECTOR 7.0 93014 0 0 STEPHEN LOVEGROVE 215 EUSTON ROAD LONDON ENGLAND UK NW1 2BE DIRECTOR 7.0 93014 0 0 MR NICK MOAKES 215 EUSTON ROAD LONDON ENGLAND UK NW1 2BE CIO 35.0 5859530 3500 0 MR FABIAN THEHOS 215 EUSTON ROAD LONDON ENGLAND UK NW1 2BE MGMT DIR-INVESTMENTS 35.0 5140738 16591 0 MS LISHA PATEL 215 EUSTON ROAD LONDON ENGLAND UK NW1 2BE MGMT DIR-INVESTMENTS 35.0 4438879 3500 0 MR GEOFF LOVE 215 EUSTON ROAD LONDON ENGLAND UK NW1 2BE PRINCIPL,VENT EQUITY 35.0 3637029 16591 0 MS ELAINA ELZINGA 215 EUSTON ROAD LONDON ENGLAND UK NW1 2BE PRINCIPAL, INVSTMNTS 35.0 2970295 46675 0 907 WELLINGTON MANAGEMENT INTERNATIONAL LTD CARDINAL PLACE 80 VICTORIA STREET LONDON UK SW1E 5JL INVESTMENT MGMT 15827552 SAVILLS 33 MARGARET STREET LONDON UK W1G 0JD PROPERTY MGMT 7495953 T ROWE PRICE ASSOCIATES INC PO BOX 64043 BALTIMORE MD 212644043 INVESTMENT MGMT 4072863 BROWN ADVISORY 901 SOUTH BOND STREET SUITE 400 BALTIMORE MD 21231 INVESTMENT MGMT 4019241 ABERFORTH 14 MELVILLE STREET EDINBURGH UK EH3 7NS INVESTMENT MGMT 3136471 123 NOT APPLICABLE DUE TO FOREIGN STATUS NOT APPLICABLE DUE TO FOREIGN STATUS 0 0 0 0 0 0 0 0 0 X 0 0 0 0 0 0 0 0 2022 2021 2020 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 NA NA NONE 215 EUSTON ROAD LONDON ENGLAND UK NW1 2BE NONE NONE NONE NONE 14 647985462 18 1656486471 2304471933 2304471933 false false false false false false false false false false NONE FREEHOLD LAND/BLDS 306621180 115888320 5538920 LEASEHOLD LAND/BLD 2011950 2011950 7350 FINANCE LEASE BLDS 0 0 FINANCE LEASE P&E 0 0 EQUIPMENT FIXTURES 173832480 108511170 9954430 FREEHOLD ASSET CIP 4962810 0 0 THE WELLCOME TRUST IS A FOREIGN FOUNDATION DESCRIBED IN SECTION 4948(B) OF THE INTERNAL REVENUE CODE. ITEM D2 ITEM D2 THE WELLCOME TRUST (THE "TRUST") IS A FOREIGN CHARITABLE TRUST CREATED IN 1936 BY THE WILL OF THE LATE SIR HENRY WELLCOME. THE TRUST IS REGISTERED UNDER THE CHARITIES ACT OF 1993 OF THE UNITED KINGDOM. SINCE ITS CREATION, THE TRUST HAS RECEIVED AT LEAST 85% OF ITS SUPPORT FROM SOURCES OUTSIDE THE UNITED STATES, WITHIN THE MEANING OF TREASURY REGULATION SECTION 53.4948-1(B), AS CALCULATED BELOW: INCEPTION TO DATE (IN GBP) SUPPORT FROM US SOURCES GIFTS, GRANTS, CONTRIBUTIONS, OR MEMBERSHIP FEES 0 GROSS RECEIPTS FROM SALES OF GOODS AND SERVICES 0 NET INCOME FROM UNRELATED BUSINESS ACTIVITIES (52,710,047) ------------ TOTAL SUPPORT FROM US SOURCES (52,710,047) SUPPORT FROM NON-US SOURCES GIFTS, GRANTS, CONTRIBUTIONS, OR MEMBERSHIP FEES 1,961,845,249 GROSS RECEIPTS FROM SALES OF GOODS AND SERVICES 31,253,658 NET INCOME FROM UNRELATED BUSINESS ACTIVITIES (3,353,019) ------------ TOTAL SUPPORT FROM NON-US SOURCES 1,989,745,888 TOTAL SUPPORT FROM US AND NON-US SOURCES 1,937,035,840 PERCENTAGE OF NON-US SUPPORT 100% FORM 990-PF, PAGE 5, PART VI-B, LINE 3B FORM 990-PF, PAGE 5, PART VI-B, LINE 3B DURING THE FISCAL YEAR ENDING SEPTEMBER 30, 2025, NORTH LONDON VENTURES LIMITED("NORTH LONDON") AND GOWER PLACE INVESTMENTS LIMITED ("GOWER PLACE"), TWO ENGLISH CORPORATIONS ACTING AS HOLDING COMPANIES, OWNED, BY ATTRIBUTION, MORE THAN 20% OF THE VOTING STOCK OF VARIOUS UK COMPANIES, WHICH MAY CONSTITUTE "BUSINESS ENTERPRISES" AS THAT TERM IS DEFINED IN IRC SECTION 4943(D)(3). DURING THE FISCAL YEAR WELLCOME TRUST OWNED 20% OF THE VOTING FIXED-SHARE PREFERRED STOCK AND 100% OF THE NON-VOTING COMMON STOCK OF NORTH LONDON AND GOWER PLACE. THE REMAINING 80% OF THE VOTING FIXED-SHARE PREFERRED STOCK OF NORTH LONDON AND GOWER PLACE WAS AND REMAINS OWNED BY A U.K. PHILANTHROPIC TRUST THAT IS NOT RELATED TO EITHER WELLCOME TRUST OR TO ANY OF WELLCOME TRUST'S DISQUALIFIED PERSONS. WELLCOME TRUST DOES NOT DIRECTLY OWN ANY OF THE STOCK OF THE ENTITIES OWNED AND CONTROLLED BY NORTH LONDON AND GOWER PLACE. AT NO TIME SINCE THE FORMATION OF NORTH LONDON AND GOWER PLACE HAVE DISQUALIFIED PERSONS WITH RESPECT TO WELLCOME TRUST HELD ANY STOCK IN NORTH LONDON OR GOWER PLACE OR IN ANY OF THE UNDERLYING ENTITIES REFERRED TO ABOVE. HOLDERS OF THE VOTING PREFERRED STOCK IN NORTH LONDON AND GOWER PLACE HAVE THE RIGHT TO ELECT AND REMOVE THE DIRECTORS OF NORTH LONDON AND GOWER PLACE AT ANY TIME, WITH WELLCOME TRUST ENTITLED TO ELECT AND REMOVE 20% OF THE NORTH LONDON AND GOWER PLACE DIRECTORS, AND THE UNRELATED U.K. PHILANTHROPIC TRUST ENTITLED TO ELECT AND REMOVE 80% OF THE NORTH LONDON AND GOWER PLACE DIRECTORS. AT THE PRESENT TIME, ALL OF THE DIRECTORS OF NORTH LONDON AND GOWER PLACE ARE ALSO EMPLOYEES OF WELLCOME TRUST, ALTHOUGH 80% OF THESE DIRECTORS COULD BE REMOVED AT ANY TIME BY VOTE OF THE UNRELATED U.K. PHILANTHROPIC TRUST. WELLCOME TRUST HOLDS A CALL OPTION THAT PERMITS IT TO PURCHASE THE VOTING STOCK OF NORTH LONDON AND GOWER PLACE OWNED BY THE UNRELATED U.K. PHILANTHROPIC TRUST AT FAIR MARKET VALUE UPON TWO MONTHS' NOTICE. THE CALL OPTION HAS NOT BEEN EXERCISED. BECAUSE WELLCOME TRUST DOES NOT OWN (EITHER DIRECTLY OR BY ATTRIBUTION) MORE THAN 20% OF THE VOTING STOCK IN NORTH LONDON OR GOWER PLACE OR IN ANY OF THE UNDERLYING ENTITIES REFERRED TO ABOVE, AND NO DISQUALIFIED PERSONS WITH RESPECT TO WELLCOME TRUST OWN ANY STOCK IN NORTH LONDON OR GOWER PLACE OR IN ANY OF THE UNDERLYING ENTITIES, THE ORGANIZATION HAS DETERMINED THAT WELLCOME TRUST'S INTERESTS IN NORTH LONDON AND GOWER PLACE AND THE UNDERLYING ENTITIES REFERRED TO ABOVE DO NOT CONSTITUTE EXCESS BUSINESS HOLDINGS UNDER 4943 AND THE TREASURY REGULATIONS ISSUED THEREUNDER. FORM 990-PF, PAGE 6, PART VI-B, LINE 5D FORM 990-PF, PAGE 6, PART VI-B, LINE 5D NOTE A: THE WELLCOME TRUST IS A U.K. TRUST AND HAS RECEIVED A DETERMINATION LETTER FOR EXEMPT STATUS UNDER THE INTERNAL REVENUE CODE SECTION 501(C)(3) AND COMPLIES WITH TREASURY REGULATION SECTION 53.4945-5(B)(6). UNQUOTED INVESTMENTS FMV 25851886320 25851886320 QUOTED INVESTMENTS FMV 19587613860 19587613860 SHARES IN SUBSIDIARIES FMV 5017422020 5017422020 INVESTMENT PROPERTIES FMV 1561592000 1561592000 DERIVATIVE FINANCIAL FMV 178102260 178102260 OTHER INVESTMENTS FMV 5457494800 5457494800 FREEHOLD LAND/BLDS 307741320 121427240 186314080 LEASEHOLD LAND/BLD 2019300 2019300 FINANCE LEASE BLDS 0 0 0 FINANCE LEASE P&E 0 0 0 EQUIPMENT FIXTURES 183890920 118465600 65425320 FREEHOLD ASSET CIP 7404100 0 7404100 DUE FROM SUBSIDIARIES 115083540 942340 942340 INVESTMENT COSTS 17672331 OFFICE EXPENSES 36915535 ADVISORY COMMITTEE EXPENSES 5105340 OTHER DIRECT COSTS 73045635 CURRENCY GAINS -63882203 OTHER REVENUE -56682365 OTHER INCOME FROM PASSTHROUGH 343618 ROYALTIES FROM PASSTHROUGH 901726 EFFECTIVELY CONNECTED INTEREST INCOME 4291708 REAL ESTATE INCOME FROM PASSTHROUGH 40459 UNREALIZED GAIN 2733582305 CHANGE IN FUND BALANCE DUE TO 230235141 FLUCTUATION IN EXCHANGE RATE 0 LONG-TERM ACCOUNTS PAYABLE 2976612960 3010372440 DUE TO SUBSIDIARIES 1649530740 2181517100 PROVISION FOR LIABILITIES 114681150 118330980 PENSION LIABILITY -220777980 -233565700 INVESTMENT MANAGEMENT FEES 35606474 CONSULTANCY FEES 22646765 EQUITY COSTS 9687055 TRUSTEE COMPANY FEES 261812 OTHER PROFESSIONAL FEES 2356311