13F filing recap · Q2 2016

What did Fundsmith buy in Q2 2016?

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

Stock value

$6.31B

Positions

Estimated turnover

24.9%

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

ELEstee Lauder Companies Inc$211.47Mreported value+2.32M shares MARMarriott International Inc /md/$13.05Mreported value+196.4K shares ORCLOracle Corporation$919.0Kreported value+22.5K shares

Increased positions

SJMThe J. M. Smucker Company$525.93Mreported value+1.40M shares+68.3%BCRC.r. Bard, Inc.$516.22Mreported value+435.6K shares+24.7%SYKStryker Corp$471.26Mreported value+327.2K shares+9.1%MSFTMicrosoft Corporation$452.21Mreported value+977.1K shares

Exited positions

DNKNDunkin' Brands Group Inc$4.21Mprior reported value-89.3K shares-100.0%