Fundsmith Equity 13F, Q1 2024
Terry Smith · quarter ending 31 March 2024 · filed 15 May 2024 · SEC CIK 1569205
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q1 2024
The 25 largest of 40 positions. Weights are against the whole filed book. Changes are in shares held, against the Q4 2023 filing.
| Company | Ticker | Value | % of book | vs Q4 2023 |
|---|---|---|---|---|
| MICROSOFT CORP | MSFT | $3.21B | 12.5% | -4% shares |
| META PLATFORMS INC-CLASS A | META | $2.41B | 9.4% | unchanged |
| STRYKER CORP | SYK | $1.96B | 7.7% | unchanged |
| VISA INC CLASS A SHARES | V | $1.59B | 6.2% | unchanged |
| IDEXX LABORATORIES INC | IDXX | $1.47B | 5.7% | unchanged |
| AUTOMATIC DATA PROCESSING | ADP | $1.44B | 5.6% | unchanged |
| PHILIP MORRIS INTERNATIONAL | PM | $1.36B | 5.3% | unchanged |
| WATERS CORP | WAT | $1.30B | 5.1% | unchanged |
| MARRIOTT INTERNATIONAL CL A | MAR | $1.10B | 4.3% | unchanged |
| ALPHABET CL A ORD | GOOGL | $1.05B | 4.1% | unchanged |
| PEPSICO INC | PEP | $1.02B | 4.0% | -12% shares |
| MCCORMICK & CO NON VTG SHRS | MKC | $939.35M | 3.7% | -19% shares |
| METTLER TOLEDO ORD | MTD | $812.21M | 3.2% | +8% shares |
| PROCTER & GAMBLE ORD | PG | $778.65M | 3.0% | unchanged |
| CHURCH AND DWIGHT ORD | CHD | $748.05M | 2.9% | unchanged |
| OTIS WORLDWIDE ORD | OTIS | $624.91M | 2.5% | -2% shares |
| NIKE INC CL B | NKE | $612.04M | 2.4% | -3% shares |
| BROWN FORMAN CORP CLASS B | BF/B | $591.50M | 2.3% | unchanged |
| FORTINET ORD | FTNT | $558.43M | 2.2% | +12% shares |
| Apple | AAPL | $273.95M | 1.1% | +20% shares |
| TEXAS INSTRUMENTS INC | TXN | $193.60M | 0.8% | new |
| EQUIFAX INC | EFX | $126.48M | 0.5% | -3% shares |
| VERISIGN INC | VRSN | $122.07M | 0.5% | -3% shares |
| VERISK ANALYTICS INC | VRSK | $112.83M | 0.4% | -8% shares |
| GRACO ORD | GGG | $109.86M | 0.4% | -3% shares |
What changed since Q4 2023
Against the Q4 2023 filing, Fundsmith Equity opened 2 new positions, added to 5, trimmed 18, left 15 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 0001520023-24-000020, 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.