Funds › Fundsmith (Terry Smith) › Q2 2021Fundsmith (Terry Smith) 13F holdings, Q2 2021 Fundsmith (Terry Smith) disclosed 43 US equity positions worth $36.1bn in its Q2 2021 13F filing. Its largest position is PYPL at 9.9% of the reported book, followed by MSFT and IDXX. Versus Q1 2021 it opened 1 new position, added to 27, reduced 1 and exited 0.
$36.1bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
43 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
9.9% Largest position The largest single position as a share of the reported equity book.
63.8% Top 10 weight The ten largest positions together, as a share of the reported equity book.
18 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 Q1 2021: 1 new , 27 added , 1 reduced , 0 exited
43 rows
Stock Sector Weight Value Shares Δ shares Action PYPL PAYPAL HLDGS INC Financial Services 9.9% $3.6bn 12.29m −0.1% held MSFT MICROSOFT CORP Technology 9.0% $3.3bn 12.04m −0.1% held IDXX IDEXX LABS INC Healthcare 7.4% $2.7bn 4.24m +0.5% added INTU INTUIT Technology 6.2% $2.2bn 4.58m +0.1% held META META PLATFORMS INC Communication Services 6.2% $2.2bn 6.44m +0.1% held EL LAUDER ESTEE COS INC Consumer Defensive 6.0% $2.2bn 6.83m +0.3% held PM PHILIP MORRIS INTL INC Consumer Defensive 5.3% $1.9bn 19.35m −0.2% held SYK STRYKER CORPORATION Healthcare 5.0% $1.8bn 7.01m +0.1% held MKC MCCORMICK & CO INC Consumer Defensive 4.4% $1.6bn 17.80m +3.4% added V VISA INC Financial Services 4.2% $1.5bn 6.54m +0.7% added WAT WATERS CORP Healthcare 4.2% $1.5bn 4.41m +0.3% held PEP PEPSICO INC Consumer Defensive 4.1% $1.5bn 10.09m +0.5% added ADP AUTOMATIC DATA PROCESSING IN Technology 3.9% $1.4bn 7.10m −0.2% held NKE NIKE INC Consumer Cyclical 3.7% $1.4bn 8.76m +10% added SBUX STARBUCKS CORP Consumer Cyclical 3.3% $1.2bn 10.75m +0.2% held JNJ JOHNSON & JOHNSON Healthcare 3.3% $1.2bn 7.16m +7.8% added BDX BECTON DICKINSON & CO Healthcare 2.9% $1.1bn 4.33m −0.1% held BF/B BROWN FORMAN CORP – 2.6% $944m 12.60m +12% added CHD CHURCH & DWIGHT CO INC Consumer Defensive 2.2% $786m 9.22m +48% added SABR SABRE CORP Technology 0.5% $194m 15.58m +4.4% added FTNT FORTINET INC Technology 0.5% $179m 752,030 +0.6% added EFX EQUIFAX INC Industrials 0.5% $163m 679,315 +0.6% added AKX ANSYS INC – 0.4% $140m 404,278 +13% added VRSK VERISK ANALYTICS INC Industrials 0.4% $138m 789,708 +13% added CGNX COGNEX CORP Technology 0.4% $136m 1.62m +0.6% added VRSN VERISIGN INC Technology 0.4% $134m 588,541 +0.6% added IPGP IPG PHOTONICS CORP Technology 0.4% $134m 633,458 +0.6% added AOS SMITH A O CORP Industrials 0.4% $127m 1.77m +0.6% added MSCI MSCI INC Financial Services 0.3% $112m 209,762 +0.6% added QLYS QUALYS INC Technology 0.3% $107m 1.07m +0.5% added MASI* MASIMO CORP – 0.3% $105m 433,438 +0.6% added WING WINGSTOP INC Consumer Cyclical 0.2% $88.4m 560,949 +25% added PAYC PAYCOM SOFTWARE INC Technology 0.2% $78.9m 217,122 +0.6% added ROL ROLLINS INC Consumer Cyclical 0.2% $76.6m 2.24m +22% added ZTS ZOETIS INC Healthcare 0.1% $41.1m 220,555 +3.9% added MAR MARRIOTT INTL INC NEW Consumer Cyclical 0.1% $40.6m 297,432 +0.4% held PG PROCTER & GAMBLE CO Consumer Defensive 0.1% $40.5m 300,204 +255% added MELI MERCADOLIBRE Consumer Cyclical 0.1% $37.7m 24,225 0.0% held TSM TAIWAN SEMICONDUCTOR MANUFAC Technology 0.04% $15.6m 129,633 +9.9% added XP XP INC Financial Services 0.03% $11.0m 253,367 0.0% held CL COLGATE PALMOLIVE CO Consumer Defensive 0.03% $9.9m 122,131 +1.8% added WNSN WNS HLDGS LTD – 0.03% $9.5m 118,721 – new HD HOME DEPOT INC Consumer Cyclical 0.0% $1.4m 4,345 −17% reduced
Sector mix Healthcare 23.0% Consumer Defensive 22.2% Technology 21.9% Financial Services 14.5% Consumer Cyclical 7.8% Communication Services 6.2% Unclassified 3.3% 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