Terry Smith’s portfolio: Fundsmith 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001569205Latest: Q2 2026
Q4 2024 filing in brief
In its Q4 2024 13F, filed February 14, 2025, Fundsmith reported $23.5B across 38 US positions. The largest: META (11.4%), MSFT (11.1%), SYK (8.2%), ADP (6.3%), V (6.2%). In the quarter it opened 2 positions, sold out of 4, added to 0 and trimmed 13; positions opened and sold out came to 2.8% 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, 2025
- 2 New
- 0 Added
- 13 Trimmed
- 4 Exited
38 positions at December 31, 2024. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | META | META PLATFORMS INC | $2.7B | 4.6M | 11.39% | −6.4% | Trimmed |
| 2 | MSFT | MICROSOFT CORP | $2.6B | 6.2M | 11.12% | −10.3% | Trimmed |
| 3 | SYK | STRYKER CORPORATION | $1.9B | 5.3M | 8.19% | −0.1% | Held |
| 4 | ADP | AUTOMATIC DATA PROCESSING IN | $1.5B | 5.0M | 6.26% | −10.0% | Trimmed |
| 5 | V | VISA INC | $1.5B | 4.6M | 6.23% | −16.7% | Trimmed |
| 6 | PM | PHILIP MORRIS INTL INC | $1.4B | 11.2M | 5.77% | −6.4% | Trimmed |
| 7 | WAT | WATERS CORP | $1.3B | 3.6M | 5.75% | −0.3% | Held |
| 8 | GOOGL | ALPHABET INC | $1.3B | 6.8M | 5.53% | −0.1% | Held |
| 9 | MAR | MARRIOTT INTL INC NEW | $1.2B | 4.3M | 5.06% | −0.3% | Held |
| 10 | IDXX | IDEXX LABS INC | $1.1B | 2.7M | 4.69% | 0.0% | Held |
| 11 | PEP | PEPSICO INC | $861M | 5.7M | 3.67% | −1.3% | Trimmed |
| 12 | FTNT | FORTINET INC | $806M | 8.5M | 3.44% | −15.7% | Trimmed |
| 13 | PG | PROCTER AND GAMBLE CO | $776M | 4.6M | 3.31% | −0.1% | Held |
| 14 | MTD | METTLER TOLEDO INTERNATIONAL | $724M | 591.5K | 3.09% | −0.1% | Held |
| 15 | CHD | CHURCH & DWIGHT CO INC | $718M | 6.9M | 3.06% | −0.4% | Held |
| 16 | OTIS | OTIS WORLDWIDE CORP | $553M | 6.0M | 2.36% | −2.8% | Trimmed |
| 17 | NKE | NIKE INC | $464M | 6.1M | 1.98% | −2.6% | Trimmed |
| 18 | BF.B | BROWN FORMAN CORP | $366M | 9.6M | 1.56% | −3.7% | Trimmed |
| 19 | TXN | TEXAS INSTRS INC | $319M | 1.7M | 1.36% | 0.0% | Held |
| 20 | VRSN | VERISIGN INC | $129M | 624.5K | 0.55% | 0.0% | Held |
| 21 | VRSK | VERISK ANALYTICS INC | $115M | 417.7K | 0.49% | 0.0% | Held |
| 22 | CHH | CHOICE HOTELS INTL INC | $104M | 733.9K | 0.44% | 0.0% | Held |
| 23 | MSCI | MSCI INC | $100M | 166.6K | 0.43% | 0.0% | Held |
| 24 | CLX | CLOROX CO DEL | $100M | 613.5K | 0.42% | 0.0% | Held |
| 25 | GGG | GRACO INC | $96M | 1.1M | 0.41% | 0.0% | Held |
| 26 | EFX | EQUIFAX INC | $93M | 363.3K | 0.39% | 0.0% | Held |
| 27 | SABR | SABRE CORP | $78M | 21.5M | 0.33% | 0.0% | Held |
| 28 | QLYS | QUALYS INC | $77M | 548.0K | 0.33% | 0.0% | Held |
| 29 | IEX | IDEX CORP | $76M | 362.5K | 0.32% | 0.0% | Held |
| 30 | EXPO | EXPONENT INC | $75M | 836.5K | 0.32% | 0.0% | Held |
| 31 | ROL | ROLLINS INC | $74M | 1.6M | 0.32% | 0.0% | Held |
| 32 | — | ODDITY TECH LTD | $68M | 1.6M | 0.29% | 0.0% | Held |
| 33 | PAYC | PAYCOM SOFTWARE INC | $66M | 322.6K | 0.28% | 0.0% | Held |
| 34 | HD | HOME DEPOT INC | $57M | 145.6K | 0.24% | −1.5% | Trimmed |
| 35 | MEDP | MEDPACE HLDGS INC | $42M | 127.5K | 0.18% | — | New |
| 36 | DOCS | DOXIMITY INC | $38M | 710.5K | 0.16% | — | New |
| 37 | ZTS | ZOETIS INC | $37M | 227.3K | 0.16% | −1.5% | Trimmed |
| 38 | MA | MASTERCARD INCORPORATED | $34M | 64.0K | 0.14% | −1.5% | 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.