Fundsmith
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Terry Smith's Fundsmith reported 40 stock positions worth $24.5 billion. Its top holding was Microsoft (MSFT) at 13.0% of the portfolio, followed by Meta Platforms Class A (META, 10.0%) and Stryker (SYK, 7.4%). Compared with Q1 2024, it added to 3 and reduced 37. The biggest buy was Texas Instruments (TXN, shares +39%) and the biggest sale McCormick & Co.-Non VTG SHRS (MKC, shares −18%).
- Most Recent 13F
- Q2 2026
- Notable People
- Terry Smith
- Location
- LONDON, X0
- CIK
- 0001569205
- Portfolio Value
- $24.5B (Q2 2024)
- SEC Filing
- 0001520023-24-000030 ↗ filed Aug 14, 2024
Holdings Value
Holdings 40 stocks · $24.5B
| MSFT Microsoft Corp. | 13.01% | 7,140,615 | $3.2B | Reduce -6.3% |
| META Meta Platforms Inc. Class A | 10.01% | 4,871,364 | $2.5B | Reduce -2.0% |
| SYK Stryker Corp. | 7.43% | 5,356,264 | $1.8B | Reduce -2.2% |
| PM Philip Morris International | 5.98% | 14,474,445 | $1.5B | Reduce -2.4% |
| V Visa Inc. Class A | 5.94% | 5,552,520 | $1.5B | Reduce -2.4% |
| ADP Automatic Data Processing | 5.43% | 5,585,761 | $1.3B | Reduce -3.1% |
| IDXX Idexx Laboratories Inc. | 5.29% | 2,663,192 | $1.3B | Reduce -1.9% |
| GOOGL Alphabet Inc. Class A | 5.08% | 6,849,259 | $1.2B | Reduce -1.9% |
| WAT Waters Corp. | 4.32% | 3,654,450 | $1.1B | Reduce -3.0% |
| MAR Marriott International Class A | 4.20% | 4,264,511 | $1.0B | Reduce -2.3% |
| PEP Pepsico Inc. | 3.87% | 5,761,087 | $950.2M | Reduce -1.4% |
| MTD Mettler-Toledo International | 3.37% | 591,575 | $826.8M | Reduce -3.0% |
| PG The Procter & Gamble Co. | 3.12% | 4,647,218 | $766.4M | Reduce -3.2% |
| CHD Church & Dwight Co. Inc. | 2.92% | 6,914,366 | $716.9M | Reduce -3.6% |
| MKC McCormick & Co.-Non VTG SHRS | 2.90% | 10,048,497 | $712.8M | Reduce -17.8% |
| FTNT Fortinet Inc. | 2.53% | 10,285,664 | $619.9M | Add +25.8% |
| OTIS Otis Worldwide Corp. | 2.41% | 6,138,278 | $590.9M | Reduce -2.5% |
| BF.B Brown-Forman Corp. Class B | 1.96% | 11,138,751 | $481.1M | Reduce -2.8% |
| NKE Nike Inc. Class B | 1.93% | 6,299,493 | $474.8M | Reduce -3.3% |
| AAPL Apple Inc. | 1.34% | 1,558,589 | $328.3M | Reduce -2.4% |
| TXN Texas Instruments Inc. | 1.22% | 1,544,781 | $300.5M | Add +39.0% |
| VRSK Verisk Analytics Inc. | 0.51% | 464,051 | $125.1M | Reduce -3.0% |
| EFX Equifax Inc. | 0.45% | 458,387 | $111.1M | Reduce -3.0% |
| VRSN Verisign Inc. | 0.45% | 624,500 | $111.0M | Reduce -3.0% |
| EXPO Exponent Inc. | 0.39% | 1,018,098 | $96.8M | Reduce -3.0% |
| GGG Graco Inc. | 0.37% | 1,139,641 | $90.4M | Reduce -3.0% |
| CGNX Cognex Corp. | 0.36% | 1,906,276 | $89.1M | Reduce -3.0% |
| CHH Choice Hotels Intl Inc. | 0.36% | 733,892 | $87.3M | Reduce -3.0% |
| MSCI MSCI Inc. | 0.33% | 166,619 | $80.3M | Reduce -3.0% |
| QLYS Qualys Inc. | 0.32% | 548,009 | $78.1M | Reduce -3.0% |
| ROL Rollins Inc. | 0.32% | 1,597,513 | $77.9M | Reduce -3.0% |
| CLX Clorox Company | 0.32% | 570,206 | $77.8M | Reduce -3.0% |
| IEX Idex Corp. | 0.30% | 362,501 | $72.9M | Reduce -3.0% |
| ODD Oddity Tech Ltd. Class A | 0.26% | 1,615,158 | $63.4M | Add +21.7% |
| SABR Sabre Corp. | 0.23% | 21,499,095 | $57.4M | Reduce -0.8% |
| HD Home Depot Inc. | 0.21% | 146,200 | $50.3M | Reduce -0.3% |
| PAYC Paycom Software Inc. | 0.19% | 322,611 | $46.1M | Reduce -0.8% |
| ZTS Zoetis Inc. | 0.16% | 228,205 | $39.6M | Reduce -0.3% |
| MA Mastercard Inc. Class A | 0.12% | 64,280 | $28.4M | Reduce -0.3% |
| MCD McDonald's Corp. | 0.10% | 93,371 | $23.8M | Reduce -0.3% |
Portfolio Sells Q1 2024 → Q2 2024
| MKC McCormick & Co.-Non VTG SHRS | Reduce -17.8% | 2.90% | −0.77 |
| WAT Waters Corp. | Reduce -3.0% | 4.32% | −0.75 |
| NKE Nike Inc. Class B | Reduce -3.3% | 1.93% | −0.46 |
| IDXX Idexx Laboratories Inc. | Reduce -1.9% | 5.29% | −0.45 |
| BF.B Brown-Forman Corp. Class B | Reduce -2.8% | 1.96% | −0.35 |
| V Visa Inc. Class A | Reduce -2.4% | 5.94% | −0.28 |
| SYK Stryker Corp. | Reduce -2.2% | 7.43% | −0.25 |
| ADP Automatic Data Processing | Reduce -3.1% | 5.43% | −0.20 |
| PEP Pepsico Inc. | Reduce -1.4% | 3.87% | −0.13 |
| MAR Marriott International Class A | Reduce -2.3% | 4.20% | −0.11 |
| PAYC Paycom Software Inc. | Reduce -0.8% | 0.19% | −0.07 |
| GGG Graco Inc. | Reduce -3.0% | 0.37% | −0.06 |
| IEX Idex Corp. | Reduce -3.0% | 0.30% | −0.06 |
| QLYS Qualys Inc. | Reduce -3.0% | 0.32% | −0.05 |
| MSCI MSCI Inc. | Reduce -3.0% | 0.33% | −0.05 |
| EFX Equifax Inc. | Reduce -3.0% | 0.45% | −0.04 |
| OTIS Otis Worldwide Corp. | Reduce -2.5% | 2.41% | −0.04 |
| CLX Clorox Company | Reduce -3.0% | 0.32% | −0.04 |
| VRSN Verisign Inc. | Reduce -3.0% | 0.45% | −0.03 |
| CHH Choice Hotels Intl Inc. | Reduce -3.0% | 0.36% | −0.02 |
| HD Home Depot Inc. | Reduce -0.3% | 0.21% | −0.01 |
| CHD Church & Dwight Co. Inc. | Reduce -3.6% | 2.92% | −0.01 |
| MCD McDonald's Corp. | Reduce -0.3% | 0.10% | −0.01 |
| MA Mastercard Inc. Class A | Reduce -0.3% | 0.12% | −0.01 |
| ZTS Zoetis Inc. | Reduce -0.3% | 0.16% | +0.01 |
| ROL Rollins Inc. | Reduce -3.0% | 0.32% | +0.02 |
| SABR Sabre Corp. | Reduce -0.8% | 0.23% | +0.03 |
| CGNX Cognex Corp. | Reduce -3.0% | 0.36% | +0.04 |
| EXPO Exponent Inc. | Reduce -3.0% | 0.39% | +0.05 |
| VRSK Verisk Analytics Inc. | Reduce -3.0% | 0.51% | +0.07 |
| PG The Procter & Gamble Co. | Reduce -3.2% | 3.12% | +0.08 |
| MTD Mettler-Toledo International | Reduce -3.0% | 3.37% | +0.19 |
| AAPL Apple Inc. | Reduce -2.4% | 1.34% | +0.27 |
| MSFT Microsoft Corp. | Reduce -6.3% | 13.01% | +0.46 |
| META Meta Platforms Inc. Class A | Reduce -2.0% | 10.01% | +0.56 |
| PM Philip Morris International | Reduce -2.4% | 5.98% | +0.66 |
| GOOGL Alphabet Inc. Class A | Reduce -1.9% | 5.08% | +0.96 |
Portfolio Buys Q1 2024 → Q2 2024
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 41 | $13.6B | MAR, SYK, WAT, V, UBER |
| Q1 2026 | 34 | $12.8B | MAR, SYK, WAT, V, GOOGL |
| Q4 2025 | 37 | $17.1B | WAT, SYK, IDXX, V, MAR |
| Q3 2025 | 35 | $19.8B | SYK, IDXX, GOOGL, MSFT, V |
| Q2 2025 | 39 | $23.0B | META, MSFT, SYK, PM, IDXX |
| Q1 2025 | 38 | $22.0B | META, MSFT, SYK, PM, V |
| Q4 2024 | 38 | $23.5B | META, MSFT, SYK, ADP, V |
| Q3 2024 | 40 | $25.3B | MSFT, META, SYK, ADP, V |
| Q2 2024 | 40 | $24.5B | MSFT, META, SYK, PM, V |
| Q1 2024 | 40 | $25.6B | MSFT, META, SYK, V, IDXX |