Funds › Fundsmith (Terry Smith) › Q2 2024Fundsmith (Terry Smith) 13F holdings, Q2 2024 Fundsmith (Terry Smith) disclosed 40 US equity positions worth $24.5bn in its Q2 2024 13F filing. Its largest position is MSFT at 13.0% of the reported book, followed by META and SYK. Versus Q1 2024 it opened 0 new positions, added to 3, reduced 33 and exited 0.
$24.5bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
40 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
13.0% Largest position The largest single position as a share of the reported equity book.
66.7% Top 10 weight The ten largest positions together, as a share of the reported equity book.
17 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 2024: 0 new , 3 added , 33 reduced , 0 exited
40 rows
Stock Sector Weight Value Shares Δ shares Action MSFT MICROSOFT CORP Technology 13.0% $3.2bn 7.14m −6.3% reduced META META PLATFORMS INC Communication Services 10.0% $2.5bn 4.87m −2.0% reduced SYK STRYKER CORPORATION Healthcare 7.4% $1.8bn 5.36m −2.2% reduced PM PHILIP MORRIS INTL INC Consumer Defensive 6.0% $1.5bn 14.47m −2.3% reduced V VISA INC Financial Services 5.9% $1.5bn 5.55m −2.4% reduced ADP AUTOMATIC DATA PROCESSING IN Technology 5.4% $1.3bn 5.59m −3.1% reduced IDXX IDEXX LABS INC Healthcare 5.3% $1.3bn 2.66m −1.9% reduced GOOGL ALPHABET INC Communication Services 5.1% $1.2bn 6.85m −1.9% reduced WAT WATERS CORP Healthcare 4.3% $1.1bn 3.65m −3.0% reduced MAR MARRIOTT INTL INC NEW Consumer Cyclical 4.2% $1.0bn 4.26m −2.3% reduced PEP PEPSICO INC Consumer Defensive 3.9% $950m 5.76m −1.5% reduced MTD METTLER TOLEDO INTERNATIONAL Healthcare 3.4% $827m 591,575 −3.0% reduced PG PROCTER & GAMBLE CO Consumer Defensive 3.1% $766m 4.65m −3.2% reduced CHD CHURCH & DWIGHT CO INC Consumer Defensive 2.9% $717m 6.91m −3.6% reduced MKC MCCORMICK & CO INC Consumer Defensive 2.9% $713m 10.05m −18% reduced FTNT FORTINET INC Technology 2.5% $620m 10.29m +26% added OTIS OTIS WORLDWIDE CORP Industrials 2.4% $591m 6.14m −2.5% reduced BF/B BROWN FORMAN CORP – 2.0% $481m 11.14m −2.8% reduced NKE NIKE INC Consumer Cyclical 1.9% $475m 6.30m −3.3% reduced AAPL APPLE INC Technology 1.3% $328m 1.56m −2.4% reduced TXN TEXAS INSTRS INC Technology 1.2% $301m 1.54m +39% added VRSK VERISK ANALYTICS INC Industrials 0.5% $125m 464,051 −3.0% reduced EFX EQUIFAX INC Industrials 0.5% $111m 458,387 −3.0% reduced VRSN VERISIGN INC Technology 0.5% $111m 624,500 −3.0% reduced EXPO EXPONENT INC Industrials 0.4% $96.8m 1.02m −3.0% reduced GGG GRACO INC Industrials 0.4% $90.4m 1.14m −3.0% reduced CGNX COGNEX CORP Technology 0.4% $89.1m 1.91m −3.0% reduced CHH CHOICE HOTELS INTL INC Consumer Cyclical 0.4% $87.3m 733,892 −3.0% reduced MSCI MSCI INC Financial Services 0.3% $80.3m 166,619 −3.0% reduced QLYS QUALYS INC Technology 0.3% $78.1m 548,009 −3.0% reduced ROL ROLLINS INC Consumer Cyclical 0.3% $77.9m 1.60m −3.0% reduced CLX CLOROX CO DEL Consumer Defensive 0.3% $77.8m 570,206 −3.0% reduced IEX IDEX CORP Industrials 0.3% $72.9m 362,501 −3.0% reduced ODD ODDITY TECH LTD Consumer Defensive 0.3% $63.4m 1.62m +22% added SABR SABRE CORP Technology 0.2% $57.4m 21.50m −0.8% reduced HD HOME DEPOT INC Consumer Cyclical 0.2% $50.3m 146,200 −0.3% held PAYC PAYCOM SOFTWARE INC Technology 0.2% $46.1m 322,611 −0.8% reduced ZTS ZOETIS INC Healthcare 0.2% $39.6m 228,205 −0.3% held MA MASTERCARD INC Financial Services 0.1% $28.4m 64,280 −0.3% held MCD MCDONALDS CORP Consumer Cyclical 0.10% $23.8m 93,371 −0.3% held
Sector mix Technology 25.1% Healthcare 20.6% Consumer Defensive 19.4% Communication Services 15.1% Consumer Cyclical 7.1% Financial Services 6.4% Industrials 4.4% Unclassified 2.0% 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