Funds › Fundsmith (Terry Smith) › Q3 2024Fundsmith (Terry Smith) 13F holdings, Q3 2024 Fundsmith (Terry Smith) disclosed 40 US equity positions worth $25.3bn in its Q3 2024 13F filing. Its largest position is MSFT at 11.7% of the reported book, followed by META and SYK. Versus Q2 2024 it opened 0 new positions, added to 6, reduced 8 and exited 0.
$25.3bn 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.
11.7% Largest position The largest single position as a share of the reported equity book.
67.5% 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 Q2 2024: 0 new , 6 added , 8 reduced , 0 exited
40 rows
Stock Sector Weight Value Shares Δ shares Action MSFT MICROSOFT CORP Technology 11.7% $3.0bn 6.90m −3.4% reduced META META PLATFORMS INC Communication Services 11.0% $2.8bn 4.87m 0.0% held SYK STRYKER CORPORATION Healthcare 7.6% $1.9bn 5.34m −0.4% held ADP AUTOMATIC DATA PROCESSING IN Technology 6.1% $1.5bn 5.57m −0.2% held V VISA INC Financial Services 6.0% $1.5bn 5.55m −0.1% held PM PHILIP MORRIS INTL INC Consumer Defensive 5.8% $1.5bn 12.01m −17% reduced IDXX IDEXX LABS INC Healthcare 5.3% $1.3bn 2.66m 0.0% held WAT WATERS CORP Healthcare 5.2% $1.3bn 3.65m −0.2% held GOOGL ALPHABET INC Communication Services 4.5% $1.1bn 6.85m 0.0% held MAR MARRIOTT INTL INC NEW Consumer Cyclical 4.2% $1.1bn 4.27m +0.1% held PEP PEPSICO INC Consumer Defensive 3.9% $976m 5.74m −0.4% held MTD METTLER TOLEDO INTERNATIONAL Healthcare 3.5% $888m 591,919 +0.1% held PG PROCTER & GAMBLE CO Consumer Defensive 3.2% $802m 4.63m −0.3% held FTNT FORTINET INC Technology 3.1% $785m 10.12m −1.6% reduced CHD CHURCH & DWIGHT CO INC Consumer Defensive 2.9% $721m 6.88m −0.5% held OTIS OTIS WORLDWIDE CORP Industrials 2.5% $638m 6.14m 0.0% held NKE NIKE INC Consumer Cyclical 2.2% $557m 6.30m 0.0% held BF/B BROWN FORMAN CORP – 1.9% $493m 10.01m −10% reduced AAPL APPLE INC Technology 1.4% $363m 1.56m 0.0% held TXN TEXAS INSTRS INC Technology 1.4% $351m 1.70m +10% added MKC MCCORMICK & CO INC Consumer Defensive 0.6% $142m 1.73m −83% reduced VRSN VERISIGN INC Technology 0.5% $119m 624,500 0.0% held VRSK VERISK ANALYTICS INC Industrials 0.4% $112m 417,685 −10.0% reduced EFX EQUIFAX INC Industrials 0.4% $107m 363,328 −21% reduced CLX CLOROX CO DEL Consumer Defensive 0.4% $99.9m 613,497 +7.6% added GGG GRACO INC Industrials 0.4% $99.7m 1.14m 0.0% held MSCI MSCI INC Financial Services 0.4% $97.1m 166,619 0.0% held EXPO EXPONENT INC Industrials 0.4% $96.4m 836,477 −18% reduced CHH CHOICE HOTELS INTL INC Consumer Cyclical 0.4% $95.6m 733,892 0.0% held ROL ROLLINS INC Consumer Cyclical 0.3% $80.8m 1.60m 0.0% held SABR SABRE CORP Technology 0.3% $78.9m 21.50m 0.0% held IEX IDEX CORP Industrials 0.3% $77.8m 362,501 0.0% held CGNX COGNEX CORP Technology 0.3% $77.2m 1.91m 0.0% held QLYS QUALYS INC Technology 0.3% $70.4m 548,009 0.0% held ODD ODDITY TECH LTD Consumer Defensive 0.3% $65.2m 1.62m 0.0% held HD HOME DEPOT INC Consumer Cyclical 0.2% $59.9m 147,815 +1.1% added PAYC PAYCOM SOFTWARE INC Technology 0.2% $53.7m 322,611 0.0% held ZTS ZOETIS INC Healthcare 0.2% $45.1m 230,726 +1.1% added MA MASTERCARD INC Financial Services 0.1% $32.1m 64,990 +1.1% added MCD MCDONALDS CORP Consumer Cyclical 0.1% $28.7m 94,403 +1.1% added
Sector mix Technology 25.4% Healthcare 21.8% Consumer Defensive 16.9% Communication Services 15.5% Consumer Cyclical 7.4% Financial Services 6.5% Industrials 4.5% Unclassified 1.9% 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