WhaleCreep

Fundsmith (Terry Smith) 13F holdings, Q3 2024

Long-only investorSEC filingsCompare with another fundHoldings as of 2024-09-30, filed 2024-11-14

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
MSFT MICROSOFT CORPTechnology11.7%$3.0bn6.90m−3.4%reduced
META META PLATFORMS INCCommunication Services11.0%$2.8bn4.87m0.0%held
SYK STRYKER CORPORATIONHealthcare7.6%$1.9bn5.34m−0.4%held
ADP AUTOMATIC DATA PROCESSING INTechnology6.1%$1.5bn5.57m−0.2%held
V VISA INCFinancial Services6.0%$1.5bn5.55m−0.1%held
PM PHILIP MORRIS INTL INCConsumer Defensive5.8%$1.5bn12.01m−17%reduced
IDXX IDEXX LABS INCHealthcare5.3%$1.3bn2.66m0.0%held
WAT WATERS CORPHealthcare5.2%$1.3bn3.65m−0.2%held
GOOGL ALPHABET INCCommunication Services4.5%$1.1bn6.85m0.0%held
MAR MARRIOTT INTL INC NEWConsumer Cyclical4.2%$1.1bn4.27m+0.1%held
PEP PEPSICO INCConsumer Defensive3.9%$976m5.74m−0.4%held
MTD METTLER TOLEDO INTERNATIONALHealthcare3.5%$888m591,919+0.1%held
PG PROCTER & GAMBLE COConsumer Defensive3.2%$802m4.63m−0.3%held
FTNT FORTINET INCTechnology3.1%$785m10.12m−1.6%reduced
CHD CHURCH & DWIGHT CO INCConsumer Defensive2.9%$721m6.88m−0.5%held
OTIS OTIS WORLDWIDE CORPIndustrials2.5%$638m6.14m0.0%held
NKE NIKE INCConsumer Cyclical2.2%$557m6.30m0.0%held
BF/B BROWN FORMAN CORP–1.9%$493m10.01m−10%reduced
AAPL APPLE INCTechnology1.4%$363m1.56m0.0%held
TXN TEXAS INSTRS INCTechnology1.4%$351m1.70m+10%added
MKC MCCORMICK & CO INCConsumer Defensive0.6%$142m1.73m−83%reduced
VRSN VERISIGN INCTechnology0.5%$119m624,5000.0%held
VRSK VERISK ANALYTICS INCIndustrials0.4%$112m417,685−10.0%reduced
EFX EQUIFAX INCIndustrials0.4%$107m363,328−21%reduced
CLX CLOROX CO DELConsumer Defensive0.4%$99.9m613,497+7.6%added
GGG GRACO INCIndustrials0.4%$99.7m1.14m0.0%held
MSCI MSCI INCFinancial Services0.4%$97.1m166,6190.0%held
EXPO EXPONENT INCIndustrials0.4%$96.4m836,477−18%reduced
CHH CHOICE HOTELS INTL INCConsumer Cyclical0.4%$95.6m733,8920.0%held
ROL ROLLINS INCConsumer Cyclical0.3%$80.8m1.60m0.0%held
SABR SABRE CORPTechnology0.3%$78.9m21.50m0.0%held
IEX IDEX CORPIndustrials0.3%$77.8m362,5010.0%held
CGNX COGNEX CORPTechnology0.3%$77.2m1.91m0.0%held
QLYS QUALYS INCTechnology0.3%$70.4m548,0090.0%held
ODD ODDITY TECH LTDConsumer Defensive0.3%$65.2m1.62m0.0%held
HD HOME DEPOT INCConsumer Cyclical0.2%$59.9m147,815+1.1%added
PAYC PAYCOM SOFTWARE INCTechnology0.2%$53.7m322,6110.0%held
ZTS ZOETIS INCHealthcare0.2%$45.1m230,726+1.1%added
MA MASTERCARD INCFinancial Services0.1%$32.1m64,990+1.1%added
MCD MCDONALDS CORPConsumer Cyclical0.1%$28.7m94,403+1.1%added

Sector mix

  • Technology25.4%
  • Healthcare21.8%
  • Consumer Defensive16.9%
  • Communication Services15.5%
  • Consumer Cyclical7.4%
  • Financial Services6.5%
  • Industrials4.5%
  • Unclassified1.9%

Book over time

Every quarter on file (55)
QuarterPositionsEquity book
Q2 202641$13.6bn
Q1 202634$12.8bn
Q4 202537$17.1bn
Q3 202535$19.8bn
Q2 202539$23.0bn
Q1 202538$22.0bn
Q4 202438$23.5bn
Q3 202440$25.3bn
Q2 202440$24.5bn
Q1 202440$25.6bn
Q4 202340$23.9bn
Q3 202339$22.0bn
Q2 202339$23.8bn
Q1 202340$23.2bn
Q4 202238$21.9bn
Q3 202246$21.1bn
Q2 202243$22.7bn
Q1 202244$29.1bn
Q4 202144$41.0bn
Q3 202143$36.2bn
Q2 202143$36.1bn
Q1 202142$31.4bn
Q4 202039$30.2bn
Q3 202036$25.6bn
Q2 202034$22.9bn
Q1 202034$17.8bn
Q4 201931$21.2bn
Q3 201931$19.6bn
Q2 201931$19.2bn
Q1 201931$17.6bn
Q4 201832$15.8bn
Q3 201817$14.9bn
Q2 201817$13.4bn
Q1 201817$12.1bn
Q4 201718$11.7bn
Q3 201717$10.3bn
Q2 201719$9.5bn
Q1 201718$8.6bn
Q4 201618$7.6bn
Q3 201619$7.3bn
Q2 201619$6.3bn
Q1 201617$4.6bn
Q4 201518$4.0bn
Q3 201520$3.3bn
Q2 201519$3.2bn
Q1 201520$3.1bn
Q4 201416$2.8bn
Q3 201416$2.3bn
Q2 201416$2.2bn
Q1 201415$1.9bn
Q4 201315$1.6bn
Q3 201316$1.5bn
Q2 201317$1.4bn
Q1 201317$1.2bn
Q4 201212$575m

Where Fundsmith (Terry Smith) was early

14 rows
CL COLGATE PALMOLIVE COQ1 20131 of 1313.4%3.4%30Exited by Q1 2022+45%
MCD MCDONALD S ORDQ1 20135 of 1922.5%10.9%14Exited by Q4 2024+205%
MSFT MICROSOFT CORPQ1 20136 of 3747.2%13.0%47Held at last filing, Q2 2026+1204%
BDX BECTON DICKINSON AND COQ2 20135 of 1687.6%8.5%27Exited by Q3 2021+146%
ADP AUTOMATIC DATA PROCESSING INQ2 20138 of 1486.8%6.8%47Held at last filing, Q2 2026+270%
IDXX IDEXX LABS INCQ1 20155 of 1470.1%15.3%46Held at last filing, Q2 2026+582%
PYPL PAYPAL HOLDINGS INCQ3 20158 of 3224.0%9.9%28Exited by Q4 2022+177%
SJM SMUCKER J M COQ4 20158 of 1282.3%8.3%7Exited by Q3 2017−4.1%
EL ESTEE LAUDER COMPANIES CL AQ2 20166 of 1613.4%6.9%29Exited by Q3 2023+116%
INTU INTUITQ2 201710 of 2391.5%6.8%26Exited by Q1 2026+399%
MKC MCCORMICK & CO NON VTG SHRSQ4 20182 of 1092.2%5.9%24Exited by Q4 2024+18%
BF/B BROWN FORMAN CORPQ3 20191 of 1063.0%3.9%23Exited by Q2 2025−46%
CHD CHURCH & DWIGHT CO INCQ3 20194 of 1200.08%4.8%24Held at last filing, Q2 2026+29%
CLX CLOROX CO DELQ4 20195 of 1401.2%1.6%13Held at last filing, Q2 2026−38%

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