Fundsmith
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Terry Smith's Fundsmith reported 40 stock positions worth $25.3 billion. Its top holding was Microsoft (MSFT) at 11.7% of the portfolio, followed by Meta Platforms Class A (META, 11.0%) and Stryker (SYK, 7.6%). Compared with Q2 2024, it added to 11 and reduced 15. The biggest buy was Texas Instruments (TXN, shares +10%) and the biggest sale McCormick & Co.-Non VTG SHRS (MKC, shares −83%).
- Most Recent 13F
- Q2 2026
- Notable People
- Terry Smith
- Location
- LONDON, X0
- CIK
- 0001569205
- Portfolio Value
- $25.3B (Q3 2024)
- SEC Filing
- 0001520023-24-000040 ↗ filed Nov 14, 2024
Holdings Value
Holdings 40 stocks · $25.3B
| MSFT Microsoft Corp. | 11.75% | 6,900,275 | $3.0B | Reduce -3.4% |
| META Meta Platforms Inc. Class A | 11.03% | 4,871,364 | $2.8B | No change |
| SYK Stryker Corp. | 7.63% | 5,336,821 | $1.9B | Reduce -0.4% |
| ADP Automatic Data Processing | 6.10% | 5,571,820 | $1.5B | Reduce -0.3% |
| V Visa Inc. Class A | 6.03% | 5,546,831 | $1.5B | Reduce -0.1% |
| PM Philip Morris International | 5.77% | 12,012,659 | $1.5B | Reduce -17.0% |
| IDXX Idexx Laboratories Inc. | 5.32% | 2,664,162 | $1.3B | Add +0.0% |
| WAT Waters Corp. | 5.19% | 3,645,999 | $1.3B | Reduce -0.2% |
| GOOGL Alphabet Inc. Class A | 4.50% | 6,852,087 | $1.1B | Add +0.0% |
| MAR Marriott International Class A | 4.20% | 4,266,655 | $1.1B | Add +0.1% |
| PEP Pepsico Inc. | 3.86% | 5,739,988 | $976.1M | Reduce -0.4% |
| MTD Mettler-Toledo International | 3.51% | 591,919 | $887.7M | Add +0.1% |
| PG The Procter & Gamble Co. | 3.17% | 4,633,222 | $802.5M | Reduce -0.3% |
| FTNT Fortinet Inc. | 3.10% | 10,118,293 | $784.7M | Reduce -1.6% |
| CHD Church & Dwight Co. Inc. | 2.85% | 6,882,775 | $720.8M | Reduce -0.5% |
| OTIS Otis Worldwide Corp. | 2.53% | 6,141,228 | $638.3M | Add +0.1% |
| NKE Nike Inc. Class B | 2.20% | 6,299,493 | $556.9M | No change |
| BF.B Brown-Forman Corp. Class B | 1.95% | 10,010,507 | $492.5M | Reduce -10.1% |
| AAPL Apple Inc. | 1.44% | 1,558,589 | $363.2M | No change |
| TXN Texas Instruments Inc. | 1.39% | 1,700,630 | $351.3M | Add +10.1% |
| MKC McCormick & Co.-Non VTG SHRS | 0.56% | 1,728,157 | $142.2M | Reduce -82.8% |
| VRSN Verisign Inc. | 0.47% | 624,500 | $118.6M | No change |
| VRSK Verisk Analytics Inc. | 0.44% | 417,685 | $111.9M | Reduce -10.0% |
| EFX Equifax Inc. | 0.42% | 363,328 | $106.8M | Reduce -20.7% |
| CLX Clorox Company | 0.40% | 613,497 | $99.9M | Add +7.6% |
| GGG Graco Inc. | 0.39% | 1,139,641 | $99.7M | No change |
| MSCI MSCI Inc. | 0.38% | 166,619 | $97.1M | No change |
| EXPO Exponent Inc. | 0.38% | 836,477 | $96.4M | Reduce -17.8% |
| CHH Choice Hotels Intl Inc. | 0.38% | 733,892 | $95.6M | No change |
| ROL Rollins Inc. | 0.32% | 1,597,513 | $80.8M | No change |
| SABR Sabre Corp. | 0.31% | 21,499,095 | $78.9M | No change |
| IEX Idex Corp. | 0.31% | 362,501 | $77.8M | No change |
| CGNX Cognex Corp. | 0.31% | 1,906,276 | $77.2M | No change |
| QLYS Qualys Inc. | 0.28% | 548,009 | $70.4M | No change |
| ODD Oddity Tech Ltd. Class A | 0.26% | 1,615,158 | $65.2M | No change |
| HD Home Depot Inc. | 0.24% | 147,815 | $59.9M | Add +1.1% |
| PAYC Paycom Software Inc. | 0.21% | 322,611 | $53.7M | No change |
| ZTS Zoetis Inc. | 0.18% | 230,726 | $45.1M | Add +1.1% |
| MA Mastercard Inc. Class A | 0.13% | 64,990 | $32.1M | Add +1.1% |
| MCD McDonald's Corp. | 0.11% | 94,403 | $28.7M | Add +1.1% |
Portfolio Sells Q2 2024 → Q3 2024
| MKC McCormick & Co.-Non VTG SHRS | Reduce -82.8% | 0.56% | −2.34 |
| MSFT Microsoft Corp. | Reduce -3.4% | 11.75% | −1.26 |
| PM Philip Morris International | Reduce -17.0% | 5.77% | −0.21 |
| CHD Church & Dwight Co. Inc. | Reduce -0.5% | 2.85% | −0.07 |
| VRSK Verisk Analytics Inc. | Reduce -10.0% | 0.44% | −0.07 |
| EFX Equifax Inc. | Reduce -20.7% | 0.42% | −0.03 |
| EXPO Exponent Inc. | Reduce -17.8% | 0.38% | −0.01 |
| BF.B Brown-Forman Corp. Class B | Reduce -10.1% | 1.95% | −0.01 |
| PEP Pepsico Inc. | Reduce -0.4% | 3.86% | −0.01 |
| PG The Procter & Gamble Co. | Reduce -0.3% | 3.17% | +0.05 |
| V Visa Inc. Class A | Reduce -0.1% | 6.03% | +0.09 |
| SYK Stryker Corp. | Reduce -0.4% | 7.63% | +0.20 |
| FTNT Fortinet Inc. | Reduce -1.6% | 3.10% | +0.58 |
| ADP Automatic Data Processing | Reduce -0.3% | 6.10% | +0.67 |
| WAT Waters Corp. | Reduce -0.2% | 5.19% | +0.87 |
Portfolio Buys Q2 2024 → Q3 2024
| TXN Texas Instruments Inc. | Add +10.1% | 1.39% | +0.17 |
| MTD Mettler-Toledo International | Add +0.1% | 3.51% | +0.14 |
| OTIS Otis Worldwide Corp. | Add +0.1% | 2.53% | +0.12 |
| CLX Clorox Company | Add +7.6% | 0.40% | +0.08 |
| IDXX Idexx Laboratories Inc. | Add +0.0% | 5.32% | +0.04 |
| HD Home Depot Inc. | Add +1.1% | 0.24% | +0.03 |
| ZTS Zoetis Inc. | Add +1.1% | 0.18% | +0.02 |
| MCD McDonald's Corp. | Add +1.1% | 0.11% | +0.02 |
| MA Mastercard Inc. Class A | Add +1.1% | 0.13% | +0.01 |
| MAR Marriott International Class A | Add +0.1% | 4.20% | −0.01 |
| GOOGL Alphabet Inc. Class A | Add +0.0% | 4.50% | −0.59 |
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 |