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Terry Smith Fundsmith LLP

AUM $13.6B
1-Year Est. Return 7.6%
 

Terry Smith is the founder and CEO of Fundsmith, a firm known for a concentrated portfolio of high-quality global companies. His approach favors simple, understandable businesses with high returns on capital and the ability to reinvest at attractive rates. Smith’s annual letters and plain-spoken commentary have made Fundsmith a frequent reference point for long-only quality investors.

This Fund
S&P 500
This Quarter Est. Return
+6.12%
1 Year Est. Return
+7.6%
3 Year Est. Return
+53.18%
5 Year Est. Return
+52.54%
10 Year Est. Return
+342.88%
AUM
$21.2B
AUM Growth
+$1.6B
Cap. Flow
+$442M
Cap. Flow %
2.09%
Top 10 Hldgs %
65.92%
Holding
32
New
1
Increased
18
Reduced
6
Closed
1

Top Buys

Rank Stock Value
1
CLX icon
Clorox
CLX
+$251M
2
SYK icon
Stryker
SYK
+$28.6M
3
BF.B icon
Brown-Forman Class B
BF.B
+$25.2M
4
PEP icon
PepsiCo
PEP
+$24.5M
5
INTU icon
Intuit
INTU
+$21.5M

Top Sells

Rank Stock Value
1
PYPL icon
PayPal
PYPL
+$22.6M
2
CHD icon
Church & Dwight Co
CHD
+$15.3M
3
V icon
Visa
V
+$5.43M
4
MAR icon
Marriott International
MAR
+$5.3M
5
WAT icon
Waters Corp
WAT
+$3.58M

Sector Composition

Rank Sector Weight
1 Consumer Staples 29.18%
2 Healthcare 26.85%
3 Technology 22.52%
4 Financials 13.7%
5 Communication Services 6.39%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AOS icon
26
A.O. Smith
AOS
$8.57B
$56.1M 0.27%
1,178,048
+329,485
+39% +$16M
VRSN icon
27
VeriSign
VRSN
$25.5B
$52.6M 0.25%
272,873
– –
MSCI icon
28
MSCI
MSCI
$41B
$51.7M 0.24%
200,070
– –
PAYC icon
29
Paycom
PAYC
$10.3B
$45.3M 0.21%
170,928
– –
MAR icon
30
Marriott International
MAR
$92.9B
$26M 0.12%
171,758
-39,544
-19% -$5.3M
MELI icon
31
Mercado Libre
MELI
$97.5B
$19.9M 0.09%
34,804
+11,160
+47% +$6.18M
CHD icon
32
Church & Dwight Co
CHD
$23.4B
– –
-202,952
Closed -$15.3M
1
2

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Terry Smith's Q4 2019 Portfolio in Review

As of Q4 2019, Terry Smith held 32 positions worth $21.2B, up 8.2% from $19.6B the previous quarter. Its ten largest holdings account for 66% of the portfolio.

Terry Smith's Q4 2019 filing shows 1 new, 18 increased, 6 reduced and 1 closed positions. Its largest new stake was Clorox: 1,682,176 shares worth $258M. The largest sale was PayPal, an estimated $22.6M.

By sector, the portfolio is most concentrated in Consumer Staples at 29% of assets, up from 28% a quarter earlier, followed by Healthcare and Technology.

  • Terry Smith's largest Q4 2019 buy was Clorox: 1,682,176 shares worth $258M.
  • Terry Smith added most to Stryker in Q4 2019, an estimated $28.6M increase.
  • Terry Smith's biggest Q4 2019 reduction was PayPal, cutting an estimated $22.6M.
  • Terry Smith fully exited Church & Dwight Co in Q4 2019, selling an estimated $15.3M.
  • Terry Smith's ten largest holdings make up 66% of its $21.2B portfolio in Q4 2019.
  • Terry Smith opened 1 new position and closed 1 in Q4 2019.
  • Terry Smith's portfolio value rose 8.2% quarter-over-quarter to $21.2B.

Based on Fundsmith LLP's 13F filing for Q4 2019, filed 13 Feb 2020.