Terry Smith’s portfolio: Fundsmith 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001569205Latest: Q2 2026
Q4 2021 filing in brief
In its Q4 2021 13F, filed February 14, 2022, Fundsmith reported $41.0B across 44 US positions. The largest: MSFT (10.7%), IDXX (6.8%), EL (6.5%), PYPL (6.0%), INTU (5.9%). In the quarter it opened 1 position, sold out of 0, added to 24 and trimmed 1; positions opened and sold out came to 3.1% 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 Feb 14, 2022
- 1 New
- 24 Added
- 1 Trimmed
- 0 Exited
44 positions at December 31, 2021. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | MSFT | MICROSOFT | $4.4B | 13.0M | 10.67% | +8.0% | Added |
| 2 | IDXX | IDEXX LABORATORIES | $2.8B | 4.2M | 6.82% | 0.0% | Held |
| 3 | EL | ESTEE LAUDER | $2.7B | 7.2M | 6.47% | +4.9% | Added |
| 4 | PYPL | PAYPAL HOLDINGS INC | $2.5B | 13.0M | 5.99% | +5.9% | Added |
| 5 | INTU | INTUIT INC | $2.4B | 3.7M | 5.86% | −18.5% | Trimmed |
| 6 | META | META PLATFORMS INC | $2.3B | 6.8M | 5.58% | +5.6% | Added |
| 7 | PM | PHILIP MORRIS INTERNATIONAL | $1.9B | 20.4M | 4.73% | +5.5% | Added |
| 8 | SYK | STRYKER CORP | $1.9B | 7.3M | 4.73% | +3.4% | Added |
| 9 | MKC | MCCORMICK & CO NON VTG SHRS | $1.8B | 18.9M | 4.46% | +1.1% | Added |
| 10 | PEP | PEPSICO INC | $1.8B | 10.4M | 4.42% | +3.2% | Added |
| 11 | ADP | AUTOMATIC DATA PROCESSING | $1.7B | 7.1M | 4.27% | 0.0% | Held |
| 12 | WAT | WATERS CORP | $1.7B | 4.5M | 4.10% | 0.0% | Held |
| 13 | V | VISA INC CLASS A SHARES | $1.5B | 6.9M | 3.63% | +4.1% | Added |
| 14 | NKE | NIKE INC CL B | $1.5B | 8.8M | 3.56% | −0.1% | Held |
| 15 | AMZN | AMAZON COM INC | $1.4B | 425.4K | 3.46% | +15.6% | Added |
| 16 | SBUX | STARBUCKS CORP | $1.4B | 11.6M | 3.30% | +7.7% | Added |
| 17 | JNJ | JOHNSON & JOHNSON | $1.2B | 7.2M | 3.01% | +0.2% | Held |
| 18 | GOOGL | ALPHABET INC | $1.2B | 419.1K | 2.96% | — | New |
| 19 | CHD | CHURCH & DWIGHT INC | $1.2B | 11.7M | 2.92% | +5.8% | Added |
| 20 | BF.B | BROWN FORMAN CORP CLASS B | $1.1B | 15.5M | 2.75% | +7.1% | Added |
| 21 | FTNT | FORTINET INC | $228M | 635.8K | 0.56% | +0.2% | Held |
| 22 | EFX | EQUIFAX | $200M | 683.2K | 0.49% | +0.2% | Held |
| 23 | SABR | SABRE | $195M | 22.7M | 0.48% | +12.8% | Added |
| 24 | AKX | ANSYS | $187M | 465.6K | 0.46% | +0.2% | Held |
| 25 | VRSK | VERISK ANALYTICS | $182M | 794.2K | 0.44% | +0.2% | Held |
| 26 | VRSN | VERISIGN | $176M | 694.8K | 0.43% | +0.2% | Held |
| 27 | AOS | AO SMITH | $153M | 1.8M | 0.37% | +0.2% | Held |
| 28 | QLYS | QUALYS | $147M | 1.1M | 0.36% | +0.2% | Held |
| 29 | IPGP | IPG PHOTONICS | $147M | 853.0K | 0.36% | +6.8% | Added |
| 30 | CGNX | COGNEX | $141M | 1.8M | 0.34% | +11.4% | Added |
| 31 | MSCI | MSCI | $129M | 211.0K | 0.32% | +0.2% | Held |
| 32 | 3M4 | MASIMO | $128M | 435.9K | 0.31% | +0.2% | Held |
| 33 | WING | WINGSTOP INC | $97M | 564.2K | 0.24% | +0.2% | Held |
| 34 | PAYC | PAYCOM SOFTWARE | $91M | 218.4K | 0.22% | +0.2% | Held |
| 35 | ROL | ROLLINS INC | $90M | 2.6M | 0.22% | +16.5% | Added |
| 36 | HD | HOME DEPOT INC | $66M | 159.6K | 0.16% | +7.6% | Added |
| 37 | ZTS | ZOETIS INC | $64M | 263.6K | 0.16% | +9.6% | Added |
| 38 | PG | PROCTER AND GAMBLE CO | $61M | 371.1K | 0.15% | +16.6% | Added |
| 39 | MELI | MERCADOLIBRE | $33M | 24.2K | 0.08% | 0.0% | Held |
| 40 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $17M | 141.7K | 0.04% | +9.3% | Added |
| 41 | WNSN | WNS HLDGS LTD | $17M | 193.2K | 0.04% | +2.3% | Added |
| 42 | — | GENPACT LIMITED | $17M | 317.3K | 0.04% | +4.0% | Added |
| 43 | CL | COLGATE PALMOLIVE CO | $11M | 128.8K | 0.03% | +4.8% | Added |
| 44 | — | XP CLASS A | $7M | 253.4K | 0.02% | 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.