Terry Smith · quarter digest

What Terry Smith did in Q4 2024

Fundsmith filed 8 moves in Q4 2024: 2 new, 2 add, 3 trim, 1 exit.

13F filed 2025-02-14. Manager quality score: q9. Philosophy: Buy good companies. Don't overpay. Do nothing.

New positions · 2

Fresh money

GRACOGRACO INC

NEW·0.4% book·−3

IDEXIDEX CORP

NEW·0.3% book·0

Adds · 2

ADD +7%·11.0% book·+6

“Microsoft top-up.”

ADD +5%·9.6% book·+17

“Mastercard add.”

Trims · 3

METAMETA PLATFORMS INC

TRIM -6%·11.4% book·+5

VVISA INC

TRIM -17%·6.2% book·+8

PFEPHILIP MORRIS INTL INC

TRIM -6%·5.8% book·−5

Exits · 1

AAPLApple

EXIT·0.0% book·−20

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.