Funds › Fundsmith (Terry Smith) › Q1 2021Fundsmith (Terry Smith) 13F holdings, Q1 2021 Fundsmith (Terry Smith) disclosed 42 US equity positions worth $31.4bn in its Q1 2021 13F filing. Its largest position is PYPL at 9.5% of the reported book, followed by MSFT and IDXX. Versus Q4 2020 it opened 3 new positions, added to 18, reduced 1 and exited 0.
$31.4bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
42 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
9.5% Largest position The largest single position as a share of the reported equity book.
63.3% Top 10 weight The ten largest positions together, as a share of the reported equity book.
19 Effective positions 1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
55 Quarters on file since Q4 2012 Quarters for which this manager's 13F holdings are on record. Holdings Against Q4 2020: 3 new , 18 added , 1 reduced , 0 exited
42 rows
Stock Sector Weight Value Shares Δ shares Action PYPL PAYPAL HLDGS INC Financial Services 9.5% $3.0bn 12.30m −0.2% held MSFT MICROSOFT CORP Technology 9.0% $2.8bn 12.05m −0.2% held IDXX IDEXX LABS INC Healthcare 6.6% $2.1bn 4.22m −0.1% held EL LAUDER ESTEE COS INC Consumer Defensive 6.3% $2.0bn 6.81m +0.3% held META META PLATFORMS INC Communication Services 6.0% $1.9bn 6.43m +0.2% held INTU INTUIT Technology 5.6% $1.8bn 4.58m −0.2% held PM PHILIP MORRIS INTL INC Consumer Defensive 5.5% $1.7bn 19.39m −0.4% held SYK STRYKER CORPORATION Healthcare 5.4% $1.7bn 7.01m +5.6% added MKC MCCORMICK & CO INC Consumer Defensive 4.9% $1.5bn 17.22m +6.7% added PEP PEPSICO INC Consumer Defensive 4.5% $1.4bn 10.03m +4.0% added V VISA INC Financial Services 4.4% $1.4bn 6.49m +6.0% added ADP AUTOMATIC DATA PROCESSING IN Technology 4.3% $1.3bn 7.11m +0.4% held WAT WATERS CORP Healthcare 4.0% $1.2bn 4.39m −0.4% held SBUX STARBUCKS CORP Consumer Cyclical 3.7% $1.2bn 10.72m +2.7% added JNJ JOHNSON & JOHNSON Healthcare 3.5% $1.1bn 6.64m +3.9% added BDX BECTON DICKINSON & CO Healthcare 3.4% $1.1bn 4.33m −0.2% held NKE NIKE INC Consumer Cyclical 3.4% $1.1bn 7.93m +2.5% added BF/B BROWN FORMAN CORP – 2.5% $775m 11.23m +9.5% added CHD CHURCH & DWIGHT CO INC Consumer Defensive 1.7% $544m 6.22m +11% added SABR SABRE CORP Technology 0.7% $221m 14.93m +9.7% added FTNT FORTINET INC Technology 0.4% $138m 747,908 +0.4% held CGNX COGNEX CORP Technology 0.4% $134m 1.61m +0.4% held IPGP IPG PHOTONICS CORP Technology 0.4% $133m 629,987 +0.4% held VRSK VERISK ANALYTICS INC Industrials 0.4% $124m 699,816 +15% added EFX EQUIFAX INC Industrials 0.4% $122m 675,592 +0.4% held AKX ANSYS INC – 0.4% $122m 358,608 +0.4% held AOS SMITH A O CORP Industrials 0.4% $119m 1.76m +18% added VRSN VERISIGN INC Technology 0.4% $116m 585,315 +17% added QLYS QUALYS INC Technology 0.4% $111m 1.06m +14% added MASI* MASIMO CORP – 0.3% $99.0m 431,063 +0.4% held MSCI MSCI INC Financial Services 0.3% $87.5m 208,613 +0.4% held PAYC PAYCOM SOFTWARE INC Technology 0.3% $79.9m 215,932 +0.4% held ROL ROLLINS INC Consumer Cyclical 0.2% $63.4m 1.84m – new WING WINGSTOP INC Consumer Cyclical 0.2% $56.9m 447,555 – new MAR MARRIOTT INTL INC NEW Consumer Cyclical 0.1% $43.9m 296,181 +6.6% added MELI MERCADOLIBRE Consumer Cyclical 0.1% $35.7m 24,225 −15% reduced ZTS ZOETIS INC Healthcare 0.1% $33.4m 212,207 +75% added TSM TAIWAN SEMICONDUCTOR MANUFAC Technology 0.04% $14.0m 117,981 0.0% held PG PROCTER & GAMBLE CO Consumer Defensive 0.04% $11.5m 84,563 +122% added XP XP INC Financial Services 0.03% $9.5m 253,367 0.0% held CL COLGATE PALMOLIVE CO Consumer Defensive 0.03% $9.5m 120,029 +7.1% added HD HOME DEPOT INC Consumer Cyclical 0.01% $1.6m 5,265 – new
Sector mix Consumer Defensive 23.0% Healthcare 22.9% Technology 21.9% Financial Services 14.2% Consumer Cyclical 7.7% Communication Services 6.0% Unclassified 3.2% Industrials 1.2% Book over time Every quarter on file (55) Where Fundsmith (Terry Smith) was early Concentration and tenure
9.9% Median largest position, all quarters The largest single position as a share of the reported equity book.
68.8% Median top 10 weight, all quarters The ten largest positions together, as a share of the reported equity book.
Concentrated Style, by median largest position
9 Median completed holding, quarters