Fundsmith LLP

LONDON, X0 · CIK 0001569205

Portfolio Value: $15.62B

Positions: 32

Period: 2018-12-31

Filed: 2019-02-14

Portfolio Value

$15.62B

Positions

New

Increased

Decreased

Sold Out

Fundsmith LLP Q4 2018 13F Filing Summary

Fundsmith LLP (LONDON, X0) reported a portfolio value of $15.62B across 32 positions in their Q4 2018 SEC 13F filing (period ending 2018-12-31). Top holdings include MSFT ($1.36B), PYPL ($1.33B), IEX ($1.09B). The top 10 positions account for 67.9% of the portfolio. This quarter saw 15 new positions, 4 increases, 13 reductions, 11 complete exits. Notable new buys: MKC ($348.96M), MASI ($51.47M), CHKP ($49.18M). Notable exits: MCD, BARD C R INC, AAPL.

All Holdings

#	Stock	CUSIP	Value↓	Shares	Weight	Change
1	MSFTMICROSOFT COM	594918104	$1.36B	11,901,040	8.72%	-1.4%
2	PYPLPAYPAL HOLDINGS INC COM	70450Y103	$1.33B	15,157,619	8.53%	-0.3%
3	IEXIDEXX LABORATORIES COM	45168D104	$1.09B	4,382,048	7.01%	-1.0%
4	PMPHILIP MORRIS INTERNATIONAL COM	718172109	$1.00B	12,308,123	6.43%	-0.8%
5	METAFACEBOOK COM	30303M102	$1.00B	6,092,839	6.42%	+2.2%
6	INTUINTUIT INC COM	461202103	$997.87M	4,388,174	6.39%	+7.3%
7	BDXBECTON DICKINSON AND CO COM	75887109	$973.37M	3,729,405	6.23%	-0.4%
8	SYKSTRYKER CORP COM	863667101	$971.79M	5,469,325	6.22%	-0.9%
9	WATWATERS CORP COM	941848103	$960.42M	4,933,327	6.15%	-1.9%
10	ELESTEE LAUDER COM	518439104	$911.97M	6,275,561	5.84%	+6.7%
11	PEPPEPSICO INC COM	713448108	$905.49M	8,099,198	5.80%	-0.9%
12	ADPAUTOMATIC DATA PROCESSING COM	53015103	$883.34M	5,863,113	5.66%	+0.9%
13	VVISA INC CLASS A SHARES COM CL A	92826C839	$847.15M	5,644,266	5.42%	-1.3%
14	MMM3M CO COM	88579Y101	$724.73M	3,439,447	4.64%	-1.4%
15	JNJJOHNSON & JOHNSON COM	478160104	$632.04M	4,574,375	4.05%	-0.1%
16	MKCMCCORMICK & CO NON VTG SHRS COM	579780206	$348.96M	2,648,658	2.23%	New
17	CLCOLGATE PALMOLIVE CO COM	194162103	$146.03M	2,181,181	0.94%	-56.9%
18	MASIMASIMO COM	574795100	$51.47M	479,372	0.33%	New
19	CHKPCHECK POINT SOFTWARE TECH COM	M22465104	$49.18M	479,073	0.31%	New
20	EFXEQUIFAX COM	294429105	$49.15M	527,747	0.31%	New
21	VRSKVERISK ANALYTICS COM	92345Y106	$49.12M	450,436	0.31%	New
22	SABRSABRE COM	78573M104	$48.97M	2,262,871	0.31%	New
23	GTLLCDK GBL. COM	1.2508e+105	$44.18M	922,783	0.28%	New
24	VRSNVERISIGN COM	9.2343e+106	$40.46M	272,873	0.26%	New
25	CGNXCOGNEX COM	192422103	$39.95M	1,033,167	0.26%	New
26	ANSSANSYS COM	03662Q105	$39.03M	273,041	0.25%	New
27	AOSAO SMITH COM	831865209	$29.46M	689,903	0.19%	New
28	MSCIMSCI COM	55354G100	$21.27M	144,247	0.14%	New
29	PAYCPAYCOM SOFTWARE COM	70432V102	$20.93M	170,928	0.13%	New
30	IPGPIPG PHOTONICS COM	44980X109	$19.16M	169,115	0.12%	New
31	MARMARRIOTT INTERNATIONAL CL A COM	571903202	$13.66M	103,472	0.09%	-35.2%
32	MELIMERCADOLIBRE COM	58733R102	$5.35M	18,267	0.03%	New

Position Changes

Stock	Value	Shares
MKCMCCORMICK & CO NON VTG SHRS	$348.96M	2,648,658
MASIMASIMO	$51.47M	479,372
CHKPCHECK POINT SOFTWARE TECH	$49.18M	479,073
EFXEQUIFAX	$49.15M	527,747
VRSKVERISK ANALYTICS	$49.12M	450,436
SABRSABRE	$48.97M	2,262,871
GTLLCDK GBL.	$44.18M	922,783
VRSNVERISIGN	$40.46M	272,873
CGNXCOGNEX	$39.95M	1,033,167
ANSSANSYS	$39.03M	273,041
AOSAO SMITH	$29.46M	689,903
MSCIMSCI	$21.27M	144,247
PAYCPAYCOM SOFTWARE	$20.93M	170,928
IPGPIPG PHOTONICS	$19.16M	169,115
MELIMERCADOLIBRE	$5.35M	18,267