Fundsmith Equity 13F, Q4 2024
Terry Smith · quarter ending 31 December 2024 · filed 14 February 2025 · SEC CIK 1569205
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q4 2024
The 25 largest of 38 positions. Weights are against the whole filed book. Changes are in shares held, against the Q3 2024 filing.
| Company | Ticker | Value | % of book | vs Q3 2024 |
|---|---|---|---|---|
| META PLATFORMS INC | META | $2.67B | 11.4% | -6% shares |
| MICROSOFT CORP | MSFT | $2.61B | 11.1% | -10% shares |
| STRYKER CORPORATION | SYK | $1.92B | 8.2% | unchanged |
| AUTOMATIC DATA PROCESSING IN | ADP | $1.47B | 6.3% | -10% shares |
| VISA INC | V | $1.46B | 6.2% | -17% shares |
| PHILIP MORRIS INTL INC | PM | $1.35B | 5.8% | -6% shares |
| WATERS CORP | WAT | $1.35B | 5.8% | unchanged |
| ALPHABET INC | GOOGL | $1.30B | 5.5% | unchanged |
| MARRIOTT INTL INC NEW | MAR | $1.19B | 5.1% | unchanged |
| IDEXX LABS INC | IDXX | $1.10B | 4.7% | unchanged |
| PEPSICO INC | PEP | $861.22M | 3.7% | unchanged |
| FORTINET INC | FTNT | $805.95M | 3.4% | -16% shares |
| PROCTER AND GAMBLE CO | PG | $775.61M | 3.3% | unchanged |
| METTLER TOLEDO INTERNATIONAL | MTD | $723.75M | 3.1% | unchanged |
| CHURCH & DWIGHT CO INC | CHD | $718.01M | 3.1% | unchanged |
| OTIS WORLDWIDE CORP | OTIS | $552.58M | 2.4% | -3% shares |
| NIKE INC | NKE | $464.28M | 2.0% | -3% shares |
| BROWN FORMAN CORP | BF/B | $366.05M | 1.6% | -4% shares |
| TEXAS INSTRS INC | TXN | $318.89M | 1.4% | unchanged |
| VERISIGN INC | VRSN | $129.25M | 0.6% | unchanged |
| VERISK ANALYTICS INC | VRSK | $115.04M | 0.5% | unchanged |
| CHOICE HOTELS INTL INC | CHH | $104.20M | 0.4% | unchanged |
| MSCI INC | MSCI | $99.97M | 0.4% | unchanged |
| CLOROX CO DEL | CLX | $99.64M | 0.4% | unchanged |
| GRACO INC | GGG | $96.06M | 0.4% | unchanged |
What changed since Q3 2024
Against the Q3 2024 filing, Fundsmith Equity opened 2 new positions, added to 0, trimmed 9, left 27 unchanged and exited 4. 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 0001520023-25-000002, 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.