Terry Smith’s portfolio: Fundsmith 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001569205Latest: Q2 2026
Q2 2021 filing in brief
In its Q2 2021 13F, filed August 13, 2021, Fundsmith reported $36.1B across 43 US positions. The largest: PYPL (9.9%), MSFT (9.0%), IDXX (7.4%), INTU (6.2%), META (6.2%). In the quarter it opened 1 position, sold out of 0, added to 14 and trimmed 1; positions opened and sold out came to 0% 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 Aug 13, 2021
- 1 New
- 14 Added
- 1 Trimmed
- 0 Exited
43 positions at June 30, 2021. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | PYPL | PAYPAL HOLDINGS INC | $3.6B | 12.3M | 9.93% | −0.1% | Held |
| 2 | MSFT | MICROSOFT | $3.3B | 12.0M | 9.03% | −0.1% | Held |
| 3 | IDXX | IDEXX LABORATORIES | $2.7B | 4.2M | 7.42% | +0.5% | Held |
| 4 | INTU | INTUIT INC | $2.2B | 4.6M | 6.23% | +0.1% | Held |
| 5 | META | $2.2B | 6.4M | 6.21% | +0.1% | Held | |
| 6 | EL | ESTEE LAUDER | $2.2B | 6.8M | 6.02% | +0.3% | Held |
| 7 | PM | PHILIP MORRIS INTERNATIONAL | $1.9B | 19.4M | 5.32% | −0.2% | Held |
| 8 | SYK | STRYKER CORP | $1.8B | 7.0M | 5.05% | +0.1% | Held |
| 9 | MKC | MCCORMICK & CO NON VTG SHRS | $1.6B | 17.8M | 4.36% | +3.4% | Added |
| 10 | V | VISA INC CLASS A SHARES | $1.5B | 6.5M | 4.24% | +0.7% | Held |
| 11 | WAT | WATERS CORP | $1.5B | 4.4M | 4.22% | +0.3% | Held |
| 12 | PEP | PEPSICO INC | $1.5B | 10.1M | 4.14% | +0.5% | Held |
| 13 | ADP | AUTOMATIC DATA PROCESSING | $1.4B | 7.1M | 3.91% | −0.2% | Held |
| 14 | NKE | NIKE INC CL B | $1.4B | 8.8M | 3.75% | +10.4% | Added |
| 15 | SBUX | STARBUCKS CORP | $1.2B | 10.7M | 3.33% | +0.2% | Held |
| 16 | JNJ | JOHNSON & JOHNSON | $1.2B | 7.2M | 3.27% | +7.8% | Added |
| 17 | BDX | BECTON DICKINSON AND CO | $1.1B | 4.3M | 2.92% | −0.1% | Held |
| 18 | BF.B | BROWN FORMAN CORP CLASS B | $944M | 12.6M | 2.62% | +12.1% | Added |
| 19 | CHD | CHURCH & DWIGHT INC | $786M | 9.2M | 2.18% | +48.2% | Added |
| 20 | SABR | SABRE | $194M | 15.6M | 0.54% | +4.4% | Added |
| 21 | FTNT | FORTINET INC | $179M | 752.0K | 0.50% | +0.6% | Held |
| 22 | EFX | EQUIFAX | $163M | 679.3K | 0.45% | +0.6% | Held |
| 23 | AKX | ANSYS | $140M | 404.3K | 0.39% | +12.7% | Added |
| 24 | VRSK | VERISK ANALYTICS | $138M | 789.7K | 0.38% | +12.8% | Added |
| 25 | CGNX | COGNEX | $136M | 1.6M | 0.38% | +0.6% | Held |
| 26 | VRSN | VERISIGN | $134M | 588.5K | 0.37% | +0.6% | Held |
| 27 | IPGP | IPG PHOTONICS | $134M | 633.5K | 0.37% | +0.6% | Held |
| 28 | AOS | AO SMITH | $127M | 1.8M | 0.35% | +0.6% | Held |
| 29 | MSCI | MSCI | $112M | 209.8K | 0.31% | +0.6% | Held |
| 30 | QLYS | QUALYS | $107M | 1.1M | 0.30% | +0.5% | Held |
| 31 | 3M4 | MASIMO | $105M | 433.4K | 0.29% | +0.6% | Held |
| 32 | WING | WINGSTOP INC | $88M | 560.9K | 0.25% | +25.3% | Added |
| 33 | PAYC | PAYCOM SOFTWARE | $79M | 217.1K | 0.22% | +0.6% | Held |
| 34 | ROL | ROLLINS INC | $77M | 2.2M | 0.21% | +21.6% | Added |
| 35 | ZTS | ZOETIS INC | $41M | 220.6K | 0.11% | +3.9% | Added |
| 36 | MAR | MARRIOTT INTERNATIONAL CL A | $41M | 297.4K | 0.11% | +0.4% | Held |
| 37 | PG | PROCTER AND GAMBLE CO | $41M | 300.2K | 0.11% | +255.0% | Added |
| 38 | MELI | MERCADOLIBRE | $38M | 24.2K | 0.10% | 0.0% | Held |
| 39 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $16M | 129.6K | 0.04% | +9.9% | Added |
| 40 | — | XP CLASS A | $11M | 253.4K | 0.03% | 0.0% | Held |
| 41 | CL | COLGATE PALMOLIVE CO | $10M | 122.1K | 0.03% | +1.8% | Added |
| 42 | WNSN | WNS HLDGS LTD | $9M | 118.7K | 0.03% | — | New |
| 43 | HD | HOME DEPOT INC | $1M | 4.3K | 0.00% | −17.5% | Trimmed |
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.