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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
+2.06%
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
$31.4B
AUM Growth
+$1.27B
Cap. Flow
+$747M
Cap. Flow %
2.38%
Top 10 Hldgs %
63.3%
Holding
42
New
3
Increased
29
Reduced
8
Closed
–

Top Buys

Rank Stock Value
1
MKC icon
McCormick & Company Non-Voting
MKC
+$96.6M
2
SYK icon
Stryker
SYK
+$89.1M
3
V icon
Visa
V
+$77.9M
4
BF.B icon
Brown-Forman Class B
BF.B
+$71.5M
5
ROL icon
Rollins
ROL
+$66M

Top Sells

Rank Stock Value
1
PYPL icon
PayPal
PYPL
+$7.32M
2
MELI icon
Mercado Libre
MELI
+$7.25M
3
PM icon
Philip Morris
PM
+$6.74M
4
MSFT icon
Microsoft
MSFT
+$5.35M
5
WAT icon
Waters Corp
WAT
+$4.45M

Sector Composition

Rank Sector Weight
1 Consumer Staples 25.42%
2 Healthcare 23.21%
3 Technology 22.28%
4 Financials 14.18%
5 Consumer Discretionary 7.72%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PYPL icon
1
PayPal
PYPL
$52.7B
$2.99B 9.5%
12,304,750
-28,991
-0.2% -$7.32M
MSFT icon
2
Microsoft
MSFT
$3.59T
$2.84B 9.04%
12,049,293
-23,045
-0.2% -$5.35M
IDXX icon
3
Idexx Laboratories
IDXX
$43.9B
$2.07B 6.57%
4,220,612
-5,816
-0.1% -$2.91M
EL icon
4
Estee Lauder
EL
$36.9B
$1.98B 6.3%
6,807,070
+20,343
+0.3% +$5.57M
META icon
5
Meta Platforms (Facebook)
META
$1.4T
$1.89B 6.03%
6,433,648
+14,774
+0.2% +$3.98M
INTU icon
6
Intuit
INTU
$100B
$1.75B 5.58%
4,577,260
-10,325
-0.2% -$3.98M
PM icon
7
Philip Morris
PM
$293B
$1.72B 5.47%
19,388,572
-79,369
-0.4% -$6.74M
SYK icon
8
Stryker
SYK
$126B
$1.71B 5.43%
7,006,486
+371,593
+6% +$89.1M
MKC icon
9
McCormick & Company Non-Voting
MKC
$14.9B
$1.54B 4.88%
17,220,169
+1,086,376
+7% +$96.6M
PEP icon
10
PepsiCo
PEP
$196B
$1.42B 4.51%
10,033,062
+384,256
+4% +$52.7M
V icon
11
Visa
V
$693B
$1.37B 4.37%
6,492,332
+370,101
+6% +$77.9M
ADP icon
12
Automatic Data Processing
ADP
$112B
$1.34B 4.26%
7,113,605
+25,988
+0.4% +$4.51M
WAT icon
13
Waters Corp
WAT
$40.4B
$1.25B 3.97%
4,393,544
-16,291
-0.4% -$4.45M
SBUX icon
14
Starbucks
SBUX
$122B
$1.17B 3.73%
10,720,429
+279,348
+3% +$29.3M
JNJ icon
15
Johnson & Johnson
JNJ
$651B
$1.09B 3.47%
6,640,844
+248,335
+4% +$40.2M
BDX icon
16
Becton Dickinson
BDX
$52.3B
$1.05B 3.35%
4,443,243
-10,807
-0.2% -$2.64M
NKE icon
17
Nike
NKE
$60.5B
$1.05B 3.35%
7,927,468
+193,924
+3% +$27M
BF.B icon
18
Brown-Forman Class B
BF.B
$13.1B
$775M 2.46%
11,231,696
+975,848
+10% +$71.5M
CHD icon
19
Church & Dwight Co
CHD
$23.4B
$544M 1.73%
6,223,361
+592,157
+11% +$49.4M
SABR icon
20
Sabre
SABR
$848M
$221M 0.7%
14,931,624
+1,316,243
+10% +$17.8M
FTNT icon
21
Fortinet
FTNT
$113B
$138M 0.44%
3,739,540
+15,685
+0.4% +$513K
CGNX icon
22
Cognex
CGNX
$10.2B
$134M 0.43%
1,611,251
+6,760
+0.4% +$563K
IPGP icon
23
IPG Photonics
IPGP
$3.12B
$133M 0.42%
629,987
+2,643
+0.4% +$601K
VRSK icon
24
Verisk Analytics
VRSK
$24.4B
$124M 0.39%
699,816
+91,668
+15% +$16.8M
EFX icon
25
Equifax
EFX
$22.6B
$122M 0.39%
675,592
+2,834
+0.4% +$501K
1
2

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PMAM
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MGIA
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BHCM
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DWM
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Terry Smith's Q1 2021 Portfolio in Review

As of Q1 2021, Terry Smith held 42 positions worth $31.4B, up 4.2% from $30.2B the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Terry Smith's Q1 2021 filing shows 3 new, 29 increased and 8 reduced positions. Its largest new stake was Rollins: 1,842,427 shares worth $63.4M. The largest sale was PayPal, an estimated $7.32M.

By sector, the portfolio is most concentrated in Consumer Staples at 25% of assets, down from 26% a quarter earlier, followed by Healthcare and Technology.

  • Terry Smith's largest Q1 2021 buy was Rollins: 1,842,427 shares worth $63.4M.
  • Terry Smith added most to McCormick & Company Non-Voting in Q1 2021, an estimated $96.6M increase.
  • Terry Smith's biggest Q1 2021 reduction was PayPal, cutting an estimated $7.32M.
  • Terry Smith's ten largest holdings make up 63% of its $31.4B portfolio in Q1 2021.
  • Terry Smith opened 3 new positions and closed 0 in Q1 2021.
  • Terry Smith's portfolio value rose 4.2% quarter-over-quarter to $31.4B.

Based on Fundsmith LLP's 13F filing for Q1 2021, filed 14 May 2021.