To The Moon

Terry Smith’s Fundsmith Equity fund,  the biggest retail fund in the UK,  was the only active strategy among interactive investors’ November best buys, as Vanguard funds continued to dominate. Fundsmith Equity was the most bought fund last month, followed by Vanguard's Life Strategy 80% Equity in second place.

Fundsmith Equity fund managers over £26bn, Terry Smith, his personal holding in the Fundsmith Equity fund is north of £200m.

According to data from Finance, the recent performance of Fundsmith are as follow: The Anualised return to 30.11.2022 is 15.5%, Higher than UK Equities' annulised return of 11.6%. Also higher than UK bonds and cash's return.

Fundsmith performance to 30 November 2022. Source: Fundsmith.co.uk

What's more, Fundsmith Equity has returned 486% over the last decade, more than double the IA Global sector’s average of 219.8%. Having returned £5,400 of profit for every £1,000 invested since 2010, more than twice the returns of the wider market, his clients will be hoping the fund manager sticks around a while longer.

Performance of Fundsmith Equity v sector over 10yrs. Source:FE Analytics

Portfolio Holdings for Fundsmith

Fundsmith holds 44 positions in its portfolio as reported in the March 2022 quarterly 13F filing

Source From https://stockzoa.com/

Latest statistics and disclosures from Fundsmith's latest quarterly 13F-HR filing:

• Top 5 stock holdings are $Microsoft(MSFT)$ , $IDEXX Laboratories(IDXX)$ , $Estee Lauder(EL)$ , $Stryker(SYK)$ , $Philip Morris(PM)$ , and represent 33.50%of Fundsmith's stock portfolio.

• Added to shares of these 9 stocks: $Adobe(ADBE)$ (+$876M), $Mettler-Toledo(MTD)$ (+$567M), $Masimo(MASI)$ (+$47M), $Wingstop(WING)$ (+$32M), $Paycom(PAYC)$ (+$14M), $Cognex(CGNX)$ (+$7.3M), $Ansys(ANSS)$ , $Sabre(SABR)$ , $MSCI Inc(MSCI)$ .

• Started 2 new stock positions in $Mettler-Toledo(MTD)$ , $Adobe(ADBE)$ .

• Reduced shares in these 10 stocks: $Johnson & Johnson(JNJ)$ (-$1.2B), $Microsoft(MSFT)$ (-$920M), $Pepsi(PEP)$ (-$437M), $Stryker(SYK)$ (-$376M), $Estee Lauder(EL)$ (-$373M), $Philip Morris(PM)$ (-$373M), $Intuit(INTU)$ (-$349M), $Automatic Data Processing Inc(ADP)$ (-$349M), $McCormick(MKC)$ (-$342M), $IDEXX Laboratories(IDXX)$ (-$342M).

• Sold out of its positions in $Colgate-Palmolive(CL)$ , $A.O. Smith(AOS)$ .

Notes: None of these stocks are particularly cheap. However, the underlying companies all have strong competitive advantages and significant long-term growth potential. FundSmith Historical PerformanceIt is a global equity fund that has a focus on high-quality, profitable companies. Its top holdings currently include tech giant $Microsoft(MSFT)$ , diabetes specialist $Novo-Nordisk A/S(NVO)$ .

source: https://www.fundsmith.co.uk/

For more about Terry Smith, you are recommended to read Terry Smith: HowI built my £26bn fund

Source:

https://www.fundsmith.co.uk/news/2022/3752-ftadviser-terry-smith-how-i-built-my-26bn-fund/

https://www.investmentweek.co.uk/news/4061119/fundsmith-equity-lands-active-spot-novembers-most-bought