Terry Smith · quarter digest

What Terry Smith did in Q3 2024

Fundsmith filed 4 moves in Q3 2024: 0 new, 2 add, 2 trim, 0 exit.

13F filed 2024-11-14. Manager quality score: q9. Philosophy: Buy good companies. Don't overpay. Do nothing.

Adds · 2

Adding to conviction

ADD +6%·10.5% book·+6

“Microsoft top-up.”

TXNTEXAS INSTRUMENTS INC

ADD +10%·1.4% book·+3

Trims · 2

PFEPHILIP MORRIS INTERNATIONAL

TRIM -17%·5.8% book·−5

VRSKVERISK ANALYTICS INC

TRIM -10%·0.4% book·−15

Current top holdings

#	Ticker	Weight	Conviction
1	MSFT Microsoft	11.2%	+6
2	MA Mastercard	9.8%	+17
3	NOVO Novo Nordisk	8.4%	+6
4	META Meta Platforms	6.5%	+5
5	LLY Eli Lilly	5.9%	−9
6	V Visa	5.4%	+8

Not investment advice. Data from 13F filings with HoldLens parsing. Methodology.