Fundsmith LLP portfolio

Every position on this page is a snapshot of 2026-03-31. It was already 45 days old on 2026-05-15, the day it first became public. Today it is 134 days old.

That lag is the law, not a service level — Rule 13f-1 gives managers 45 days after quarter end to file, and no product can shorten it. A fund can have sold every share below before you read this sentence. Treat it as a record of what happened, never as a position you can follow.

This page was built from one document: the 2026-03-31 Form 13F info table filed by Fundsmith LLP (CIK 1569205, accession 0001569205-26-000005). Every other 13F site is reading the same file.

If anything here disagrees with it, the filing wins — and we would want to know. All 13F filings by this manager

A 13F is a long-only equity snapshot, and the holes in it are structural. Anyone selling you this data as "what the smart money is doing" is selling you one leg of a position:

• No short positions. None, ever. A fund shown here as bullish may be net short the same name through a book you cannot see.
• No cash, bonds, FX, commodities or non-US listings. A macro fund's entire thesis can be invisible.
• No intra-quarter round trips. Bought and sold inside the same quarter means it never appears at all.
• Options are notional, not ownership. We keep puts and calls in a separate bucket rather than adding their notional into a fund's book size, which is how a $2B fund gets reported as a $20B one.
• Confidential treatment. Managers can ask the SEC to withhold a position while they build it. Those holdings are legally absent from the filing, so a "new" position may be months old.