To The Moon

Fundsmith’s factsheet says no sales or purchases this month.

We know from their 13F that they bought Edwards Lifescience 

Could this be for their Smithson fund instead?

$Sabre(SABR)$ $VeriSign(VRSN)$ $Fortinet(FTNT)$ $Masimo(MASI)$ $Qualys(QLYS)$ $Verisk Analytics(VRSK)$ $MSCI Inc(MSCI)$ $Cognex(CGNX)$ $Equifax(EFX)$ $IPG Photonics(IPGP)$ $Apple(AAPL)$ $Ansys(ANSS)$ $Rollins(ROL)$ $Paycom(PAYC)$ $Johnson & Johnson(JNJ)$ $Home Depot(HD)$ $Procter & Gamble(PG)$ $Zoetis(ZTS)$ $MercadoLibre(MELI)$ $IDEX Corp(IEX)$ $WNS (Holdings)(WNS)$ $Genpact(G)$ $Taiwan Semiconductor Manufacturing(TSM)$ $XP Inc.(XP)$ $Edwards Lifesciences(EW)$ With the exception of Mercado Libre; which is in their emerging markets fund, the rest here are either in their mid cap fund or their sustainable fund.

Large cash position of 3.6% in the fund. Feels higher than previous months… tech exposure also seems lower. Somethings up!

Seems too large for Smithson as its new positions are typically below $15bn market cap and EW is $48bn. Might be Fundsmith Sustainable as that has a few different holdings from the main fund. Fundsmith normally says that they are building a new position, naming it later on.

https://twitter.com/long_equity/status/1598268214160531456