13F filing recap · Q2 2017

What did Fundsmith buy in Q2 2017?

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

Stock value

$9.54B

Positions

Estimated turnover

7.9%

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

INTUIntuit Inc.$144.46Mreported value+1.09M shares

Increased positions

PYPLPayPal Holdings, Inc.$754.13Mreported value+890.0K shares+6.8%MSFTMicrosoft Corporation$738.98Mreported value+518.6K shares+5.1%SYKStryker Corp$718.33Mreported value+552 shares+0.0%WATWaters Corporation$704.83Mreported value+401.4K shares

Reduced positions

BCRC.r. Bard, Inc.$804.52Mreported value-6.0K shares-0.2%IDXXIdexx Laboratories Inc /de$717.68Mreported value-34.2K shares-0.8%PEPPepsico, Inc.$616.13Mreported value-35.2K shares-0.7%JNJJohnson & Johnson$539.54Mreported value-25.6K shares