Terry Smith | Fundsmith Llp

This pages lists all securities owned by Fundsmith Llp going back to 2013 Q1. At the top of the list are companies that have been held the longest such as Visa Inc., Johnson & Johnson, and Stryker Corporation.

Name	Ticker	Quarters Owned	First Quarter Owned	Latest Quarter Owned	Min % of Portfolio	Avg % of Portfolio	Max % of Portfolio
Visa Inc.	V	37	'13 Q1	'22 Q2	1.68%	4.95%	6.46%
Johnson & Johnson	JNJ	37	'13 Q1	'22 Q2	0.15%	4.99%	9.10%
Stryker Corporation	SYK	37	'13 Q1	'22 Q2	4.73%	7.07%	9.86%
PepsiCo, Inc.	PEP	37	'13 Q1	'22 Q2	4.14%	6.10%	8.53%
Philip Morris International Inc.	PM	37	'13 Q1	'22 Q2	4.73%	6.48%	8.27%
Waters Corporation	WAT	32	'13 Q1	'22 Q2	1.25%	5.04%	7.54%
Microsoft Corporation	MSFT	31	'13 Q1	'22 Q2	2.98%	8.92%	11.36%
Automatic Data Processing, Inc.	ADP	31	'13 Q2	'22 Q2	3.77%	5.03%	6.83%
IDEXX Laboratories, Inc.	IDXX	30	'15 Q1	'22 Q2	0.13%	6.33%	15.34%
PayPal Holdings, Inc.	PYPL	27	'15 Q3	'22 Q2	2.97%	7.47%	9.93%

Industry Breakdown

Disclaimer: Investor holdings are derived from 13F filings which are required to be filed by all institutional investment managers with at least $100 million in assets under management. Limitations to this data include but are not limited to: (1) SEC does not review 13Fs for accuracy or completeness, (2) cash, foreign stocks, short positions, and a variety of other assets are not required to be reported, (3) 13Fs are often filed 45 days after the end of the quarter, by which time a manager's positions and outlook could have changed significantly, (4) the market value does not tell us at what price the manager acquired the asset, and (5) data is only available starting mid 2013. Please do your own research before drawing any conclusions from this data.