Fundsmith Portfolio - Sep 30, 2025

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Fundsmith, Terry Smith, has built a diversified portfolio of 35 publicly traded holdings with a total market value of $19.8B as of Sep 30, 2025. This comprehensive analysis examines the latest 13F filing data to understand the investment strategy and recent portfolio adjustments.

The portfolio demonstrates a diversified approach to stock selection, with the top holding representing 8.6% of the total portfolio value. The top 5 holdings account for 38.1% of the overall portfolio allocation.

Recent portfolio activity shows 10 significant position adjustments, indicating active portfolio management and strategic repositioning. These changes reflect the investor's response to market conditions and evolving investment thesis.

Portfolio Statistics

35
Total Holdings
$19.8B
Portfolio Value
Sep 30, 2025
Latest Filing
8.6%
Largest Position

Top Holdings Analysis

The portfolio's top holdings reveal the investor's core investment thesis and sector preferences. The largest position in STRYKER CORPORATION (SYK) represents 8.6% of the total portfolio, valued at $1.7B.

Rank Symbol Company Value Portfolio % Change
1 SYK STRYKER CORPORATION $1.7B 8.6% -1.8%
2 IDXX IDEXX LABS INC $1.7B 8.4% -1.1%
3 GOOGL ALPHABET INC $1.5B 7.7% -7.6%
4 MSFT MICROSOFT CORP $1.3B 6.8% -47.7%
5 V VISA INC $1.3B 6.6% +0.0%

For a complete analysis of all holdings and detailed portfolio breakdown by sector and market cap, visit our comprehensive holdings page.

Recent Portfolio Activity

Recent portfolio adjustments provide insights into the investor's evolving strategy and market outlook. The following table shows the top 10 most significant position changes from recent reporting periods (out of 141 total transactions), sorted by the magnitude of change.

For a complete history of all portfolio transactions and detailed activity analysis, visit our comprehensive activity page.

Symbol Company Quantity Change Date Action
MSFT Microsoft Corporation -2,358,140 Sep 30, 2025 SELL
META Meta Platforms, Inc. -2,010,088 Sep 30, 2025 SELL
PM Philip Morris International Inc -1,886,051 Sep 30, 2025 SELL
NSSC NAPCO Security Technologies, In +824,945 Sep 30, 2025 BUY
EXPO Exponent, Inc. -746,820 Sep 30, 2025 SELL
CHH Choice Hotels International, In -733,892 Sep 30, 2025 SELL
ZTS Zoetis Inc. +730,300 Sep 30, 2025 BUY
CPRX Catalyst Pharmaceuticals, Inc. +654,721 Sep 30, 2025 BUY
GOOGL Alphabet Inc. -514,102 Sep 30, 2025 SELL
WAT Waters Corporation +347,091 Sep 30, 2025 BUY

Investment Strategy Insights

Fundsmith's investment approach can be analyzed through several key metrics. The portfolio's concentration in top holdings suggests a diversified investment strategy, with significant positions in companies that align with the investor's long-term thesis.

The largest position in STRYKER CORPORATION (SYK) demonstrates strong conviction in this particular investment opportunity. Recent activity shows a decrease of 1.8% in this position, indicating active portfolio management and strategic positioning.

Portfolio turnover can be assessed through recent activity patterns. The 10 most significant transactions shown here (out of 141 total transactions) suggest a highly active approach to portfolio management, with frequent strategic adjustments and position changes.

Additional Analysis

Complete Holdings

View all 35 holdings with detailed analysis

Trading Activity

Track all portfolio transactions and position changes

Performance Metrics

Analyze profit, winning trades, and investment returns

Sector Allocation

Analyze portfolio breakdown by sector and industry

Fundsmith's portfolio as of Sep 30, 2025 reflects a strategic approach to equity investing with 35 holdings valued at $19.8B. The concentrated position in STRYKER CORPORATION and other top holdings demonstrates the investor's confidence in specific investment themes and long-term value creation opportunities. Recent activity indicates ongoing portfolio optimization and strategic repositioning.

For the most current portfolio data and detailed analysis, refer to the latest SEC 13F filings and our comprehensive holdings and activity pages, which are updated regularly with the latest filing information.

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