Terry Smith’s portfolio: Fundsmith 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001569205Latest: Q2 2026
Q2 2024 filing in brief
In its Q2 2024 13F, filed August 14, 2024, Fundsmith reported $24.5B across 40 US positions. The largest: MSFT (13.0%), META (10.0%), SYK (7.4%), PM (6.0%), V (5.9%). In the quarter it opened 0 positions, sold out of 0, added to 3 and trimmed 31; 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 14, 2024
- 0 New
- 3 Added
- 31 Trimmed
- 0 Exited
40 positions at June 30, 2024. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | MSFT | MICROSOFT CORP | $3.2B | 7.1M | 13.01% | −6.3% | Trimmed |
| 2 | META | META PLATFORMS INC-CLASS A | $2.5B | 4.9M | 10.01% | −2.0% | Trimmed |
| 3 | SYK | STRYKER CORP | $1.8B | 5.4M | 7.43% | −2.2% | Trimmed |
| 4 | PM | PHILIP MORRIS INTERNATIONAL | $1.5B | 14.5M | 5.98% | −2.3% | Trimmed |
| 5 | V | VISA INC CLASS A SHARES | $1.5B | 5.6M | 5.94% | −2.4% | Trimmed |
| 6 | ADP | AUTOMATIC DATA PROCESSING | $1.3B | 5.6M | 5.43% | −3.1% | Trimmed |
| 7 | IDXX | IDEXX LABORATORIES INC | $1.3B | 2.7M | 5.29% | −1.9% | Trimmed |
| 8 | GOOGL | ALPHABET CL A ORD | $1.2B | 6.8M | 5.08% | −1.9% | Trimmed |
| 9 | WAT | WATERS CORP | $1.1B | 3.7M | 4.32% | −3.0% | Trimmed |
| 10 | MAR | MARRIOTT INTERNATIONAL CL A | $1.0B | 4.3M | 4.20% | −2.3% | Trimmed |
| 11 | PEP | PEPSICO INC | $950M | 5.8M | 3.87% | −1.5% | Trimmed |
| 12 | MTD | METTLER TOLEDO ORD | $827M | 591.6K | 3.37% | −3.0% | Trimmed |
| 13 | PG | PROCTER & GAMBLE ORD | $766M | 4.6M | 3.12% | −3.2% | Trimmed |
| 14 | CHD | CHURCH AND DWIGHT ORD | $717M | 6.9M | 2.92% | −3.6% | Trimmed |
| 15 | MKC | MCCORMICK & CO NON VTG SHRS | $713M | 10.0M | 2.90% | −17.8% | Trimmed |
| 16 | FTNT | FORTINET ORD | $620M | 10.3M | 2.53% | +25.8% | Added |
| 17 | OTIS | OTIS WORLDWIDE ORD | $591M | 6.1M | 2.41% | −2.5% | Trimmed |
| 18 | BF.B | BROWN FORMAN CORP CLASS B | $481M | 11.1M | 1.96% | −2.8% | Trimmed |
| 19 | NKE | NIKE INC CL B | $475M | 6.3M | 1.93% | −3.3% | Trimmed |
| 20 | AAPL | Apple | $328M | 1.6M | 1.34% | −2.4% | Trimmed |
| 21 | TXN | TEXAS INSTRUMENTS INC | $301M | 1.5M | 1.22% | +39.0% | Added |
| 22 | VRSK | VERISK ANALYTICS INC | $125M | 464.1K | 0.51% | −3.0% | Trimmed |
| 23 | EFX | EQUIFAX INC | $111M | 458.4K | 0.45% | −3.0% | Trimmed |
| 24 | VRSN | VERISIGN INC | $111M | 624.5K | 0.45% | −3.0% | Trimmed |
| 25 | EXPO | EXPONENT INC | $97M | 1.0M | 0.39% | −3.0% | Trimmed |
| 26 | GGG | GRACO ORD | $90M | 1.1M | 0.37% | −3.0% | Trimmed |
| 27 | CGNX | COGNEX CORP | $89M | 1.9M | 0.36% | −3.0% | Trimmed |
| 28 | CHH | CHOICE HOTELS INTERNATIONAL ORD | $87M | 733.9K | 0.36% | −3.0% | Trimmed |
| 29 | MSCI | MSCI INC | $80M | 166.6K | 0.33% | −3.0% | Trimmed |
| 30 | QLYS | QUALYS INC | $78M | 548.0K | 0.32% | −3.0% | Trimmed |
| 31 | ROL | ROLLINS ORD | $78M | 1.6M | 0.32% | −3.0% | Trimmed |
| 32 | CLX | CLOROX COMPANY | $78M | 570.2K | 0.32% | −3.0% | Trimmed |
| 33 | IEX | IDEX ORD | $73M | 362.5K | 0.30% | −3.0% | Trimmed |
| 34 | — | ODDITY TECH LTD | $63M | 1.6M | 0.26% | +21.7% | Added |
| 35 | SABR | SABRE CORP | $57M | 21.5M | 0.23% | −0.8% | Held |
| 36 | HD | HOME DEPOT ORD | $50M | 146.2K | 0.21% | −0.3% | Held |
| 37 | PAYC | PAYCOM SOFTWARE INC | $46M | 322.6K | 0.19% | −0.8% | Held |
| 38 | ZTS | ZOETIS CL A ORD | $40M | 228.2K | 0.16% | −0.3% | Held |
| 39 | MA | MASTERCARD CL A ORD | $28M | 64.3K | 0.12% | −0.3% | Held |
| 40 | MCD | MCDONALD S ORD | $24M | 93.4K | 0.10% | −0.3% | 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.