Fundsmith LLP

LONDON, X0 · CIK 0001569205

Portfolio Value: $21.17B

Positions: 31

Period: 2019-12-31

Filed: 2020-02-13

Portfolio Value

$21.17B

Positions

New

Increased

Decreased

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Fundsmith LLP Q4 2019 13F Filing Summary

Fundsmith LLP (LONDON, X0) reported a portfolio value of $21.17B across 31 positions in their Q4 2019 SEC 13F filing (period ending 2019-12-31). Top holdings include MSFT ($1.92B), PYPL ($1.64B), PM ($1.44B). The top 10 positions account for 65.9% of the portfolio. This quarter saw 1 new positions, 18 increases, 6 reductions, 15 complete exits. Notable new buy: CLX ($258.28M). Notable exits: CHD, MMM, GTLL.

All Holdings

#	Stock	CUSIP	Value↓	Shares	Weight	Change
1	MSFTMICROSOFT COM	594918104	$1.92B	12,190,529	9.08%	+0.0%
2	PYPLPAYPAL HOLDINGS INC COM	70450Y103	$1.64B	15,185,799	7.76%	-1.4%
3	PMPHILIP MORRIS INTERNATIONAL COM	718172109	$1.44B	16,899,236	6.79%	-0.2%
4	ELESTEE LAUDER CL A	518439104	$1.42B	6,875,587	6.71%	+1.6%
5	METAFACEBOOK CL A	30303M102	$1.35B	6,588,286	6.39%	+1.6%
6	SYKSTRYKER CORP COM	863667101	$1.28B	6,082,992	6.03%	+2.3%
7	MKCMCCORMICK & CO NON VTG SHRS COM NON VTG	579780206	$1.25B	7,379,711	5.92%	+1.2%
8	INTUINTUIT INC COM	461202103	$1.24B	4,743,046	5.87%	+1.8%
9	VVISA INC CLASS A SHARES COM CL A	92826C839	$1.21B	6,415,516	5.70%	-0.5%
10	IEXIDEXX LABORATORIES COM	45168D104	$1.20B	4,591,899	5.67%	+0.8%
11	WATWATERS CORP COM	941848103	$1.19B	5,106,666	5.64%	-0.3%
12	PEPPEPSICO INC COM	713448108	$1.16B	8,469,394	5.47%	+2.2%
13	ADPAUTOMATIC DATA PROCESSING COM	53015103	$1.10B	6,464,198	5.21%	-0.3%
14	BDXBECTON DICKINSON AND CO COM	75887109	$1.04B	3,821,427	4.91%	+0.1%
15	JNJJOHNSON & JOHNSON COM	478160104	$884.47M	6,063,399	4.18%	+1.8%
16	BF-ABROWN FORMAN CORP CLASS B CL B	115637209	$651.03M	9,630,607	3.08%	+4.2%
17	CLXCLOROX COMPANY COM	189054109	$258.28M	1,682,176	1.22%	New
18	VRSKVERISK ANALYTICS COM	92345Y106	$92.84M	621,663	0.44%	+16.3%
19	EFXEQUIFAX COM	294429105	$91.68M	654,288	0.43%	+5.4%
20	SABRSABRE COM	78573M104	$91.34M	4,070,298	0.43%	+12.1%
21	MASIMASIMO COM	574795100	$90.88M	574,963	0.43%	-
22	ANSSANSYS COM	03662Q105	$89.35M	347,128	0.42%	-
23	CHKPCHECK POINT SOFTWARE TECH ORD	M22465104	$88.97M	801,834	0.42%	+10.2%
24	IPGPIPG PHOTONICS COM	44980X109	$66.64M	459,804	0.31%	+17.0%
25	CGNXCOGNEX COM	192422103	$65.44M	1,167,817	0.31%	-
26	AOSAO SMITH COM	831865209	$56.12M	1,178,048	0.27%	+38.8%
27	VRSNVERISIGN COM	9.2343e+106	$52.58M	272,873	0.25%	-
28	MSCIMSCI COM	55354G100	$51.65M	200,070	0.24%	-
29	PAYCPAYCOM SOFTWARE COM	70432V102	$45.26M	170,928	0.21%	-
30	MARMARRIOTT INTERNATIONAL CL A CL A	571903202	$26.01M	171,758	0.12%	-18.7%
31	MELIMERCADOLIBRE COM	58733R102	$19.91M	34,804	0.09%	+47.2%

Position Changes

Stock	Value	Shares
CLXCLOROX COMPANY	$258.28M	1,682,176