13F filing recap · Q1 2023

What did Fundsmith buy in Q1 2023?

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

Stock value

$23.17B

Positions

Estimated turnover

6.8%

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

GGGGraco Inc.$39.86Mreported value+545.9K shares MARMarriott International Inc /md/$16.54Mreported value+99.6K shares MAMastercard Inc$15.14Mreported value+41.7K shares

Increased positions

MSFTMicrosoft Corporation$2.60Breported value+1.1K shares+0.0%MKCMccormick & Company, Incorporated$1.29Breported value+3.4K shares+0.0%VVisa Inc.$1.27Breported value+1.3K shares+0.0%ADPAutomatic Data Processing Inc$1.23Breported value+1.2K shares

Reduced positions

PMPhilip Morris International Inc.$1.60Breported value-12.2K shares-0.1%SYKStryker Corp$1.57Breported value-108.7K shares-1.9%IDXXIdexx Laboratories Inc /de$1.48Breported value-489.5K shares-14.2%ELEstee Lauder Companies Inc$1.34Breported value-251.3K shares

Exited positions

ADBEAdobe Inc.$709.85Mprior reported value-2.11M shares-100.0%