13F filing recap · Q3 2016

What did Fundsmith buy in Q3 2016?

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

Stock value

$7.32B

Positions

Estimated turnover

12.7%

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.

Increased positions

MSFTMicrosoft Corporation$572.25Mreported value+1.10M shares+12.4%BCRC.r. Bard, Inc.$559.63Mreported value+300.6K shares+13.7%IDXXIdexx Laboratories Inc /de$506.26Mreported value+21.5K shares+0.5%PEPPepsico, Inc.$500.65Mreported value+1.06M shares+30.0%SJMThe J. M. Smucker Company$488.38Mreported value+173.1K shares+5.0%PYPLPayPal Holdings, Inc.$488.29Mreported value+2.02M shares+20.4%PMPhilip Morris International Inc.$482.80Mreported value+598.4K shares+13.7%SYKStryker Corp$481.57Mreported value+204.1K shares+5.2%WATWaters Corporation$480.28Mreported value+589.0K shares+24.1%JNJJohnson & Johnson$470.55Mreported value+278.6K shares+7.5%VVisa Inc.$408.91Mreported value+427.5K shares+9.5%BDXBecton Dickinson & Co$369.42Mreported value+261.9K shares+14.6%DPSDr Pepper Snapple Group, Inc.$360.55Mreported value+347.4K shares+9.6%MMM3m Company$346.92Mreported value+32.1K shares+1.7%ADPAutomatic Data Processing Inc$341.31Mreported value+532.9K shares+16.0%ELEstee Lauder Companies Inc$303.80Mreported value+1.11M shares+47.7%CLColgate-Palmolive Company$140.51Mreported value+521.5K shares+37.7%