Fundsmith Equity 13F, Q3 2023
Terry Smith · quarter ending 30 September 2023 · filed 14 November 2023 · SEC CIK 1569205
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q3 2023
The 25 largest of 39 positions. Weights are against the whole filed book. Changes are in shares held, against the Q2 2023 filing.
| Company | Ticker | Value | % of book | vs Q2 2023 |
|---|---|---|---|---|
| MICROSOFT CORP | MSFT | $2.73B | 12.4% | -4% shares |
| STRYKER CORP | SYK | $1.51B | 6.8% | unchanged |
| META PLATFORMS INC-CLASS A | META | $1.50B | 6.8% | -11% shares |
| PHILIP MORRIS INTERNATIONAL | PM | $1.39B | 6.3% | -5% shares |
| AUTOMATIC DATA PROCESSING | ADP | $1.33B | 6.0% | unchanged |
| VISA INC CLASS A SHARES | V | $1.32B | 6.0% | unchanged |
| IDEXX LABORATORIES INC | IDXX | $1.30B | 5.9% | unchanged |
| MCCORMICK & CO NON VTG SHRS | MKC | $1.16B | 5.3% | unchanged |
| PEPSICO INC | PEP | $1.12B | 5.1% | unchanged |
| WATERS CORP | WAT | $1.04B | 4.7% | unchanged |
| ALPHABET CL A ORD | GOOGL | $993.06M | 4.5% | unchanged |
| MARRIOTT INTERNATIONAL CL A | MAR | $864.02M | 3.9% | +2237% shares |
| PROCTER & GAMBLE ORD | PG | $706.92M | 3.2% | unchanged |
| BROWN FORMAN CORP CLASS B | BF/B | $697.25M | 3.2% | unchanged |
| CHURCH AND DWIGHT ORD | CHD | $666.60M | 3.0% | +9% shares |
| NIKE INC CL B | NKE | $640.87M | 2.9% | unchanged |
| METTLER TOLEDO ORD | MTD | $629.96M | 2.9% | unchanged |
| OTIS WORLDWIDE ORD | OTIS | $518.07M | 2.4% | unchanged |
| FORTINET ORD | FTNT | $288.95M | 1.3% | +113% shares |
| Apple | AAPL | $228.27M | 1.0% | unchanged |
| VERISIGN INC | VRSN | $135.73M | 0.6% | unchanged |
| VERISK ANALYTICS INC | VRSK | $124.37M | 0.6% | unchanged |
| MSCI INC | MSCI | $107.68M | 0.5% | unchanged |
| SABRE CORP | SABR | $101.26M | 0.5% | unchanged |
| QUALYS INC | QLYS | $99.75M | 0.5% | unchanged |
What changed since Q2 2023
Against the Q2 2023 filing, Fundsmith Equity opened 2 new positions, added to 3, trimmed 3, left 31 unchanged and exited 2. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001520023-23-000012, filed by Fundsmith LLP. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.