13F filing recap · Q3 2015

What did Fundsmith buy in Q3 2015?

Reported stock-position changes between this filing and the previous one.

Stock value

$3.28B

Positions

Estimated turnover

21.3%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

New positions

PYPLPayPal Holdings, Inc.$132.51Mreported value+4.27M shares

Increased positions

MSFTMicrosoft Corporation$333.35Mreported value+338.1K shares+4.7%DPSDr Pepper Snapple Group, Inc.$280.92Mreported value+39.1K shares+1.1%PEPPepsico, Inc.$279.63Mreported value+395.2K shares+15.4%SYKStryker Corp$274.94Mreported value+158.4K shares

Reduced positions

BDXBecton Dickinson & Co$209.98Mreported value-69.0K shares-4.2%EBAYEbay Inc.$56.12Mreported value-1.97M shares-46.2%DPZDomino’s Pizza, Inc.$4.89Mreported value-1.38M shares-96.8%