Terry Smith’s portfolio: Fundsmith 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001569205Latest: Q2 2026
Q3 2016 filing in brief
In its Q3 2016 13F, filed November 14, 2016, Fundsmith reported $7.3B across 19 US positions. The largest: MSFT (7.8%), BARD C R INC (7.7%), IDXX (6.9%), PEP (6.8%), SJM (6.7%). In the quarter it opened 3 positions, sold out of 3, added to 13 and trimmed 0; positions opened and sold out came to 35.2% of the portfolio's value.
Methodology
Holdings come from the manager’s Form 13F-HR filings on SEC EDGAR, with amendments applied. Values and shares are reported at quarter-end; the filing date is when the report became public. These disclosures show reported long positions and listed options, not the manager’s entire portfolio or its trades since quarter-end.
Quarterly changes compare shares with the immediately preceding quarter on file. New and exited positions appear or disappear; added and trimmed positions change their share count by more than 1%. A share change can also reflect a stock split or other corporate action.
Opened and sold out is the value of new positions plus the prior value of exited positions, divided by the average of the two quarters’ reported portfolio values. It excludes changes to positions still held. Reported value growth includes price changes and is not a measure of investment performance. Largest-five and largest-ten weights exclude options.
Holdings
Filed Nov 14, 2016
- 3 New
- 13 Added
- 0 Trimmed
- 3 Exited
19 positions at September 30, 2016. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | MSFT | MICROSOFT CORP | $572M | 9.9M | 7.82% | +12.4% | Added |
| 2 | — | BARD C R INC | $560M | 2.5M | 7.65% | — | New |
| 3 | IDXX | IDEXX LABS INC | $506M | 4.5M | 6.92% | +0.5% | Held |
| 4 | PEP | PEPSICO INC | $501M | 4.6M | 6.84% | +30.0% | Added |
| 5 | SJM | SMUCKER J M CO | $488M | 3.6M | 6.68% | +5.0% | Added |
| 6 | PYPL | PAYPAL HLDGS INC | $488M | 11.9M | 6.67% | +20.4% | Added |
| 7 | PM | PHILIP MORRIS INTL INC | $483M | 5.0M | 6.60% | +13.7% | Added |
| 8 | SYK | STRYKER CORP | $482M | 4.1M | 6.58% | +5.2% | Added |
| 9 | WAT | WATERS CORP | $480M | 3.0M | 6.56% | +24.1% | Added |
| 10 | JNJ | JOHNSON & JOHNSON | $471M | 4.0M | 6.43% | +7.5% | Added |
| 11 | V | VISA INC | $409M | 4.9M | 5.59% | +9.5% | Added |
| 12 | — | BECTON DICKINSON & CO | $369M | 2.1M | 5.05% | — | New |
| 13 | — | DR PEPPER SNAPPLE GROUP INC | $361M | 3.9M | 4.93% | +9.6% | Added |
| 14 | MMM | 3M CO | $347M | 2.0M | 4.74% | +1.7% | Added |
| 15 | — | AUTOMATIC DATA PROCESSING IN | $341M | 3.9M | 4.67% | — | New |
| 16 | EL | LAUDER ESTEE COS INC | $304M | 3.4M | 4.15% | +47.7% | Added |
| 17 | CL | COLGATE PALMOLIVE CO | $141M | 1.9M | 1.92% | +37.7% | Added |
| 18 | MAR | MARRIOTT INTL INC NEW | $13M | 196.4K | 0.18% | 0.0% | Held |
| 19 | ORCL | ORACLE CORP | $881K | 22.5K | 0.01% | 0.0% | Held |
Every quarter on file (54)
From the manager’s Form 13F-HR filings on SEC EDGAR, amendments applied. Long US positions only; not a recommendation.